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The Coinbase earnings report shows that services and subscriptions are the exchange’s core revenue streams. Is this a positive or a negative? Coinbase, a leading U.S. cryptocurrency exchange , shared its second-quarter results on Aug. 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.  Coinbase key financial metrics, in millions of dollars. Source: Coinbase However, the exchange took a hit with a $97 million net loss, worse than its previous quarter, and saw a 32% drop in its adjusted EBITDA to $194 million in Q2. Services and USDC stablecoin impact growth One downside was the 7% fall in subscription and service revenue from Q1. The letter to shareholders revealed that a 28% decrease in the USD Coin (USDC) market cap partly caused this. Since Coinbase holds a stake in Circle, USDC's issuer, it gains from the interest rate offered by the stablecoin reserves. Addition...

Bitcoin price is up, alongside the prices of stocks and altcoins, thanks to a “positive” CPI report. Bitcoin price is up on Dec. 13, and a market-wide rally in crypto prices has some investors hopeful that the intra-day high at $18,105 is a sign that BTC has bottomed.  A primary catalyst for the rally appears to be the Consumer Price Index report which showed energy decreasing by 1.6%, which should be welcomed news for struggling Bitcoin miners. With the overall CPI report showing easing inflation at 7.1% versus the previously expected 7.3%, equities traders are reacting by driving prices higher. Daily cryptocurrency market performance. Source: Coin360 The stock market is also flashing green, with the Dow showing a 600-point increase and the S&P 500 registering a 100-point gain. As reported by Cointelegraph, Bitcoin’s price action remains closely correlated to U.S. equities and today’s rally is no exception to the trend.  Here are a few reasons why Bitcoin price is up today . Bit...

Bitcoin fails to hold $17,000 as BTC price correlation with Asia stocks stands out on the day. Bitcoin (BTC) hit new month-to-date lows on Dec. 7 as Asian markets fell during trading. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $16,500 stands as support as BTC price wobbles Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to lows of $16,736 on Bitstamp, a level not seen since Nov. 30. The pair thus began to erase the ground it had reclaimed into the November monthly close, showing heavy influence from Asian equities prior to the Wall Street open. The mood was nervous on the day, with Hong Kong’s Hang Seng index down 3.2% at the time of writing and the Nikkei 225 and Shanghai Composite Index 0.7% and 0.4% lower, respectively. “Welp, there we go with Bitcoin, couldn't hold support and started falling down, just like indices have been showing weakness,” Michaël van de Poppe, founder and CEO of trading firm Eight, reacted. “Have been patiently...

Bitcoin gets a boost from a declining U.S. dollar, but BTC price action is anything but straight bullish, say analysts. Bitcoin (BTC) starts its first full week of December at three-week highs as bulls and bears battle on. After a weekly close just above $17,000, BTC/USD seems determined to make the most of relief on stocks and a weakening U.S. dollar. As the United States gears up to release November Inflation data, the dollar looks to be a key item to watch as BTC price action teases a recovery from the pits of the FTX meltdown. All may not be as straightforward as it seems — miners are facing serious hardship, data shows, and opinions on stocks’ own ability to continue higher are far from unanimous. As the end of the year approaches, will Bitcoin see a “Santa rally” or face a new year nursing fresh losses? Cointelegraph presents five areas worth watching in the coming days when it comes to BTC/USD performance. Bitcoin traders diverge over “Santa rally” Light relief for Bitcoin bull...