Bitcoin

Bitcoin faces a critical test this week as bulls struggle to maintain the $60,000 support level, raising questions about whether the cryptocurrency has bottomed.

Shares of Strategy (MSTR) snapped a nine-day losing streak on Monday, rebounding 12.6% to $92.68 after the Bitcoin-buying firm unveiled a new capital management framework.

Cathie Wood’s ARK Invest has capitalized on the recent crypto market downturn by purchasing a combined $43.5 million worth of shares in several crypto-related companies over the past three trading days.

The US Securities and Exchange Commission has secured a $5.4 million judgment against crypto platform NanoBit Limited and its affiliates for defrauding at least 18 investors between 2023 and 2024.

Ether, solana, and dogecoin slid on Tuesday as a surging dollar and the prospect of over $1 billion in potential bitcoin sales by Strategy kept crypto markets under pressure.