The BTC Narrative Collapse: Why Bitcoin’s Price Drop Was ‘Inevitable’ Despite ETF Hype

PANews reported on November 18th that, according to Fortune magazine, Bitcoin mining company Bitfury announced a $1 billion investment plan on Tuesday to support mission-driven entrepreneurs. The company plans to invest $200 million next year, with the remaining funds to be invested gradually over the next few years. Bitfury stated that a specific list of investee companies has not yet been determined. However, the company plans to invest in ethical companies working in areas such as artificial intelligence, quantum computing, and transparent decentralized systems. In addition, the company also plans to invest in the field of sovereign identity. Bitfury derives most of its revenue from its cryptocurrency mining business, which includes two subsidiaries spun off from its parent company and listed on Nasdaq. Cipher Mining (CIFR) operates in the United States and has a market capitalization of approximately $5.5 billion; Hut8 (HUT) originated in Canada and has a market capitalization of approximately $4 billion. In addition, Bitfury has founded and co-founded two companies that provide AI infrastructure: LiquidStack and Axelera AI.

The post Bitcoin doesn’t need the McRib to rally appeared on BitcoinEthereumNews.com. Crypto bros tracking bitcoin’s (BTC) price against re-releases of the McDonald’s McRib got a little too excited this week when an online news outlet mistakenly reported the sandwich’s return. Analyst Jack McCordic, known as “internbrah” on X, claims the McRib has “historically” heralded an up-to-2X increase in BTC’s price.  McCordic’s graph shows that when the McCrib returned to the US in 2020 and 2023, and the UK in 2024, the price of BTC increased by 237%, 71% and 58% respectively in the months that followed. He does, however, fail to note that when the McCrib was released in November 2021 in the US, the price of BTC actually fell by 74%.  The bitcoin chart with McRib re-releases fails to mention at least three other McRib returns in the US. Read more: Bitcoin scammer posed as McDonald’s owner to steal $1.5M McCordic’s graph also fails to mention the McRib’s US release in October 2022 as part of its “Farewell Tour,” and another release in December 2024. On these two occasions respectively, BTC’s price fell by 23% in a week and 20% in five months.   Despite this less-than-tasty price action, McCordic posted his McRib chart on Thursday after a report from Dextero claimed the sandwich was coming back to the UK on October 16.  He told his followers, “Don’t fade the McRib” and added the new apparent McRib release to his graph.  However, Dexerto’s report was later deleted, and McDonald’s UK confirmed to Protos that the McRib will not be coming back this month. Sorry guys.  A screenshot of Dexerto’s report meta on Google that now takes you to a deleted page. Read more: Donald Trump serves fries at McDonald’s five days after flop crypto launch It seems that Dexerto may have mistakenly caught a report from last year, which similarly stated that the McRib…

Wirex introduces on-chain payments on Stellar directly via cards with USDC and EURC, in partnership with Visa.