Professional traders are flocking back to Bitcoin funds in the wake of multiple applications for exchange-traded funds by leading asset managers. As a result, open interest (OI) for options contracts has soared to $13.8 billion, according to blockchain analytics firm Glassnode. Furthermore, the increase in demand for Bitcoin options has pushed OI close to its...Read More
A new report by the cryptocurrency exchange Bitfinex revealed that the latest on-chain metrics and investor behavior suggest the crypto market may be ready for the next bull run. In the weekly edition of the Bitfinex Alpha report, the crypto exchange noted that Bitcoin’s Spent Output Profit Ratio (SOPR) and Net Unrealized Profit and Loss...Read More
Bitcoin (BTC) has seen positive returns for two consecutive quarters, ending the first half of 2023 in green, according to data compiled by the cryptocurrency information platform CoinGlass. For the first quarter, the leading crypto asset posted a return of 71.77% and 7.19% at the end of the second one. The last time bitcoin recorded...Read More
The US Securities and Exchange Commission has reportedly issued a warning that the recent Bitcoin Spot ETF filings by financial giants, such as Fidelity and BlackRock, could lack comprehensive details. The agency has a long history of rejecting such products in the States, and its current war on crypto is likely not helping. BlackRock made...Read More
MicroStrategy – the company spearheaded by one of Bitcoin’s most vocal and influential proponents Michael Saylor – has bought some $350 million worth of BTC. Michael Saylor broke the news on Twitter. MicroStrategy has acquired an additional 12,333 BTC for $347 million at an average price of $28,136 per Bitcoin. As of 06/27/2023, MicroStrategy hodls...Read More
Bitcoin’s price has recently taken for the skies lately with an increase of upward of 20% in the past seven days alone. The cryptocurrency is already trading at around $30K, returning the bullish sentiment in the industry following days of a painful chop and downward movements. And while analysts are presenting their technical thesis for...Read More
Major digital asset funds have seen capital outflows for the ninth week in a row, according to asset manager CoinShares. On June 19, CoinShares released its weekly asset flows report, and the news is still grim from an institutional investment standpoint. This ninth week of outflows adds to the run, which now totals $423 million....Read More
Bitcoin prices fell to $24,820 in early Asian trading on Thursday morning. It is the lowest the asset has traded for since March 16, three months ago. A thousand dollars was shaved off the price of BTC in less than an hour resulting in a daily loss of 3.6%. At the time of writing, BTC...Read More
Periods similar to the ongoing SEC-induced FUD test the resilience of short-term holders – a cohort that is typically the first to flee as the price of crypto-asset tanks. However, the latest data suggest that the movement of short-term Bitcoin holders depicted strong interest in staying in the market and gaining profitability. A CryptoQuant analyst...Read More
Bitcoin is up 4.5% on Tuesday despite back-to-back lawsuits from the U.S. Securities and Exchange Commission (SEC) targeting two of the world’s largest crypto exchanges this week. The event has triggered $94 million in liquidations across the market over the last day – mostly consisting of shorts. Per data from Coinglass, $61.5 million in short...Read More
Bitcoin’s network fundamentals have continued to explode this year. The price side of things, however, has been disappointing recently. With its stagnating since mid-March, concerns about possible downside targets stretching toward $20,000 have emerged. Despite some encouraging signs in recent months, Bitcoin’s latest retreat dragged its price below $27,000. Bitcoin’s Key Support Areas As the...Read More
On Tuesday, the prices of bitcoin and other crypto assets were seen trading at a discount on the Australian arm of Binance, the world’s largest crypto exchange by trading volume, compared to rival local platforms. As of 1:10 pm, bitcoin (BTC) was trading at A$34,863 ($22,670) on Binance Australia, about A$7,516 ($4,913) lower than the...Read More
Although it was launched less than a year ago in its current version, ChatGPT has already made massive strides in the AI community and has become a go-to chatbot for countless questions and inquiries. However, it’s worth noting that the AI virtual machine is not perfect, makes certain mistakes, and cannot be trusted blindly. No,...Read More
In its weekly on-chain report, analytics provider Glassnode cautioned that there is likely to be a big move ahead for BTC following a period of low volume and volatility. “Given the extremely low volatility, and narrow trading ranges of late, it seems this equilibrium is soon to be disturbed,” it noted. Bitcoin jumped 4% on...Read More
The former head of BitMEX – Arthur Hayes – has backtracked from his previous prediction about Bitcoin’s price trajectory. The exec said the largest crypto asset is unlikely to reach $70,000 this year, but 2024 could be bullish for the entire market. Bracing for Armageddon While speaking on the ‘What Bitcoin Did podcast,’ Hayes predicted...Read More
Crypto markets are in the green during the Monday morning Asian trading session. The momentum has been driven by a debt ceiling deal between U.S. President Joe Biden and top congressional Republican Kevin McCarthy. However, the tentative agreement to suspend the federal government’s $31.4 trillion debt ceiling has yet to clear Congress. Nevertheless, it has...Read More
Should bitcoin start resembling more the price performance as well as the investment structure of gold, its price could skyrocket to $45,000, according to a note by JPMorgan’s analysts. However, the multinational investment bank believes there’s a big catch. Bitcoin’s YTD performance has been rather impressive, as the asset entered 2023 at under $17,000 following...Read More
On May 26, on-chain analytics provider Santiment observed that Bitcoin traders often buy short-term, small crypto price dips but have been scared to buy the longer-term bigger ones. It added that mentions of buying the dip are dormant at the moment, suggesting very weak market sentiment. “Historically, this kind of #FUD has been good to...Read More
Bitcoin turned higher this week, recording a modest 2% gain. While the largest crypto asset continues to languish below several key levels, the holders’ accumulation over the past several weeks suggests that it is “increasingly being used as a buy-and-hold asset.’” According to Bitfinex’s latest report, over 68.45% of the total supply, amounting to 13.27...Read More
The “poor sentiment” surrounding Bitcoin dominated the trend over several weeks as its price mostly remained trapped below the $28,000 level. However, more recent data is flashing bullish for the world’s largest crypto asset indicating that it could potentially be on the cusp of a bullish breakout. Bitcoin Bottom Is In Bitcoin’s tight-range consolidation may...Read More
Although typically regarded as a volatile asset with major price fluctuations, bitcoin has been stuck in a tight range for the past several days. However, all that could change in the following days, at least according to similar historical developments. Aside from a price dive on May 12 to a two-month low, BTC’s recent performance...Read More
The Democrat candidate for U.S. President took to the “Nakamoto Stage” at the Bitcoin 2023 conference to make some powerful pledges. Robert F. Kennedy shared his own experiences with Bitcoin stating that he would protect the rights of Americans to hold and use the asset if he is elected president. “As president, I will make...Read More
Tether – the company behind the largest stablecoin by means of total market cap – USDT – will be buying Bitcoin. It joins the rank of other large corporations by adding the primary cryptocurrency to its balance sheet. Tether revealed today that starting this month (May), the company will “regularly” allocate as much as 15%...Read More
For some, the Ordinals craze has wreaked havoc in the Bitcoin ecosystem. BTC’s price may have, so far, failed to capitalize on it, but that was not the case for the network miners. In fact, the development has been a blessing in disguise for them. Bitcoin Miner Revenue Shoots Up This month was marked by...Read More
Santiment – a crypto markets intelligence platform – has a bullish outlook on Bitcoin after the Federal Reserve increased its benchmark interest rate by another 25 basis points on Wednesday. In a follow-up blog post, the firm claimed that the top crypto is showing “some promising rise potential” – particularly as its correlation to equities...Read More
According to data from the crypto financial service platform Matrixport, the narrowing wedge that has been in formation for the past three weeks is about to break to the upside. Such a trend could project a move higher by an equal amount to the range at which the triangle started to form. A breakout could...Read More
The Bitcoin ordinal inscription craze is back, and network transactions are surging as a result. On May 1, on-chain analytics provider Glassnode reported that daily transactions were approaching peak levels. The 30-day moving average for the metric had reached 348,700 daily transactions. Furthermore, the peak level was measured in 2017 when it reached 379,000 transactions...Read More
First Republic Bank stock (FRC) lost half its value on Tuesday, April 25, following a disappointing quarterly earnings report. The embattled bank was the worst performer on the S&P 500 for the day as investors dumped its shares. Since the beginning of the year, First Republic stock has dumped 93%. The bank has become the...Read More
In a note published on April 24, Standard Chartered analysts predicted that Bitcoin prices will climb to $100,000 by the end of 2024. Analyst Geoff Kendrick noted that the collapse of several U.S. banks, including Silicon Valley Bank, Silvergate, and Signature, has solidified the case for Bitcoin as a “decentralized, trustless, and scarce digital asset.”...Read More
By quoting Portfolio Shield’s inventor, Steven Van Metre, Robert Kiyosaki warned that gold prices could be heading toward a massive correction that could slash the value in half. At the same time, he reaffirmed his stance that “cash is trash” and his belief in the yellow metal as well as bitcoin. Gold to Drop Hard?...Read More
