With the recent upswing, the Bitcoin price appears to be in the final phase of recovery that it triggered after marking the bottoms after the FTX collapse. After maintaining a fine upswing since the start of the year, the BTC price has soared beyond 170% to mark yearly highs close to $44,500. Meanwhile, the price...Read More
Despite Bitcoin (BTC)’s stellar performance this year, its role in an average investor’s portfolio is still questionable, according to Bloomberg. In an opinion piece published for the outlet on Friday, financial analyst and crypto advisory expert Aaron Brown said the asset’s dubious correlations to traditional asset classes leave it out of place when bought alongside...Read More
The government of El Salvador has teamed up with stablecoin issuer Tether to launch the “Adopting El Salvador Freedom Visa Program,” designed to benefit the economy, the culture, and the people of the nation. This new citizenship-by-investment initiative offers a residency visa and a route to citizenship for 1,000 individuals who are prepared to make...Read More
The Bitcoin community has just witnessed the largest Ordinals inscription sale of all time amid the resurgence of digital artifacts on the largest blockchain network. According to a tweet by Solana-based non-fungible token (NFT) marketplace Magic Eden, Ordinals inscription #8 from the Honey Badgers has been sold for 10.4 bitcoins (BTC) worth approximately $450,000. We...Read More
Jack Dorsey’s Block has announced the full, global rollout of Bitkey – the firm’s self-custodial Bitcoin (BTC) wallet – in a bid to encourage HODLers to take full control of their coins. “Move your Bitcoin off the exchanges,” said Dorsey via X (formerly Twitter) on Thursday, attaching a link to Bitkey’s website which is currently...Read More
Anticipation of ETFs has driven the largest surge in inflows into digital asset investment products since late 2021, reaching $1.7 billion over nine consecutive weeks. Bitcoin attracted over $1 billion in inflows last month, totaling $1.6 billion year-to-date. Following the footsteps of the world’s largest altcoin, Ethereum, too, recorded inflows of $126 million, marking a...Read More
JPMorgan Chase CEO Jamie Dimon attacked Bitcoin and other cryptocurrencies on Wednesday, suggesting that they’re only useful for criminals and may as well be banned. “If I were the government, I’d close it down,” Dimon said of the crypto industry during remarks on Capitol Hill on Wednesday. Bitcoin, Banks, and Crime Dimon was one among...Read More
Bitcoin has gained recognition in the financial sector within two decades after its launch. This is evident in the increasing number of times the leading digital asset has been mentioned in official filings over the past years. According to recent research, the world’s largest cryptocurrency was mentioned in more than a thousand filings with the...Read More
Bitcoin (BTC) has climbed back to $44,000 for the first time in 19 months – nearly three years since first reaching that value in February 2021. That doesn’t mean the asset is stagnant, however: on-chain analysis finds that much has changed about the nature of the crypto market, painting a much more bullish outlook this...Read More
A Bitcoin Core developer, Luke Dashjr, asserted that a bug fix on the largest blockchain network could potentially prevent new BTC ordinals and BRC-20 tokens from causing congestion by addressing an alleged vulnerability. The statement comes as Bitcoin approaches the $45,000 mark and a surge in unconfirmed transactions on the blockchain, reigniting the discussion around...Read More
Bitcoin has recently witnessed a significant upswing, breaking past the $44,000 mark for the first time since the early months of 2022. This impressive rise is driven by a mixture of factors, including a decrease in interest rates and the growing excitement over the potential launch of a Bitcoin ETF (Exchange-Traded Fund) in the United...Read More
Cryptocurrency trading volumes on Robinhood experienced a significant increase in November by approximately 75% above the levels recorded in October, based on early results disclosed by the company. However, equity trading volumes and options contracts traded in November remained relatively consistent, aligning with the levels observed in October, according to a Form 8-K filing submitted...Read More
In a week that saw Bitcoin surging to an impressive $42,000, Tether, the company behind the world’s largest stablecoin, witnessed a substantial increase in the value of its BTC holdings, resulting in a staggering unrealized profit of over $1 billion. Since May 2023, Tether has amassed 4,083 BTC. Tether’s Bitcoin Holdings Soar According to data...Read More
Ki Young Ju, the co-founder and CEO of CryptoQuant, has provided insights into the behavior of whales in the cryptocurrency market, specifically focusing on their preparations for market growth towards the end of 2023. The latest highlights came after his October post, where he noted that Bitcoin whales were adopting a “risk-on mode,” indicating a...Read More
Bitcoin (BTC) has reached a new year-to-date high, soaring past $42,000 on December 4. The asset has broken through the upper limit of the trading range it was confined to for weeks, recording its strongest monthly close since March 2022. However, analysts from the cryptocurrency exchange Bitfinex have warned that investors and traders be wary...Read More
In addition to its price hitting a 19-month high, Bitcoin dominance also hit local highs, topping 54%. However, a minor retreat in the metric and a potential BTC correction could be good news for altcoins. On Dec. 4, crypto trader Jacob Canfield commented on the dominance decline and potential for altcoin moves. “I’m liking this...Read More
El Salvador President Nayib Bukele said the country’s Bitcoin (BTC) investment is in profit as the price of the asset crossed the $40,000 mark for the first time in almost two years. The Central American country started buying BTC in September 2021, with its stash currently worth over $130 million. El Salvador BTC Portfolio Sees...Read More
While the price of Bitcoin (BTC) ballooned to a 19-month high this weekend, Ethereum (ETH) has kept apace, surging beyond $2200 for the first time since May 2022. On-chain analysts at CryptoQuant have identified three drivers behind the crypto’s stellar performance over the past month. Ultrasound Money Takes Effect As shared by analyst MAC_D, ETH...Read More
Itau Unibanco, Brazil’s largest bank, has officially entered the cryptocurrency exchange market, launching a trading service for its investment platform clients. The service debuted on Monday and enables users to trade Bitcoin and Ether, the two most popular cryptocurrencies. Itau Expands Crypto Trading with Diverse Portfolio According to a Reuters report, Guto Antunes, the head...Read More
Blockstream CEO Adam Back has projected that Bitcoin’s price will reach a staggering $100,000 before the next halving event. This prediction, defying historical Bitcoin pricing trends, has sparked a mix of excitement and skepticism, highlighting the fluctuating nature of the cryptocurrency market. Bitoin Price Prediction Bitcoin analyst Vijay Boyapati recently questioned whether Bitcoin might hit...Read More
Northern Data – a German data center and Bitcoin mining operator – has spent another $360 million on GPUs to bolster its cloud computing services. The move signals further integration of Bitcoin miners into the AI sector where industry firms benefit from pre-existing infrastructure and economies of scale. Diving Deep Into AI Taiga Cloud –...Read More
Bitcoin spot exchange-traded fund fervor has gripped institutional investors, which are piling funds back into crypto assets. Institutional-grade crypto asset funds saw their largest weekly inflows since late 2021 last week, according to fund manager CoinShares. A new record of inflows of 346 million was recorded for the week, the highest total observed in the...Read More
The world’s largest cryptocurrency exchange, Binance, has experienced ailing on-chain activities since its $4.3 billion settlement with the United States Department of Justice (DOJ) less than two weeks ago. According to a report by market analytics platform CryptoQuant, Binance’s reserves have steadily declined as users continue to withdraw their assets. Binance Reserves Decline Binance’s reserves...Read More
A recent report from Grayscale Investments revealed an unexpected diversity in Bitcoin (BTC) ownership, with 74% of addresses holding less than 0.01 bitcoin, equivalent to approximately $380. Grayscale’s research dispels the inaccurate public belief that Bitcoin is predominantly owned by a few individuals, revealing around 40% of BTC’s supply is concentrated among institutions like exchanges,...Read More
Bitcoiners are blasting the British Broadcasting Corporation (BBC) following the outlet’s recent article discussing the blockchain network’s energy consumption. The public broadcaster cited a study claiming that every Bitcoin transaction consumes “a back yard swimming pool” worth of water, though critics say that the claim is based on “junk science.” Does Bitcoin Use Too Much...Read More
The market is experiencing a significant Santa Claus rally, with Bitcoin maintaining a robust position above the $38,000 level. Yet, it’s anticipated that investors might begin selling off their Bitcoin holdings as the price reaches a 19-month peak. Following this, Bitcoin has seen a notable selloff from its recent high of $39K, leading to questions...Read More
With the highly-anticipated Bitcoin halving just four months away, the world’s largest crypto asset is witnessing a strong rally driven by expectations of growing institutional demand. On December 1st, Bitcoin briefly surged past $38.8k, a threshold not observed since May 2022. Although it quickly dipped below $38.3k, Matrixport’s report presents a compelling case for Bitcoin’s ascent...Read More
Michael Novogratz, the founder and CEO of Galaxy Digital Holdings Ltd., anticipates that Bitcoin will reclaim its previous peak within a year, fueled by the growing expectation that the U.S. Securities and Exchange Commission (SEC) will greenlight the first American exchange-traded fund (ETF) directly holding Bitcoin. Meanwhile, there has been a surge in Bitcoin ETF...Read More
The ProShares Bitcoin Strategy ETF (BITO) – the first bitcoin (BTC) ETF to launch in the United States – has topped a new record for assets under management (AUM) this week, now boasting nearly $1.5 billion in Bitcoin futures contracts. The record signals eagerness among institutions to gain exposure to BTC before approval of a...Read More
Trust Wallet, a leading self-custody and multi-chain wallet boasting over 70 million users, is experiencing issues with its Bitcoin nodes. The heightened transaction volume has reportedly led to instability among various node providers, causing technical difficulties for Trust Wallet users relying on these nodes for their Bitcoin transactions. Trust Wallet Experiences Bitcoin Node Issues According...Read More
