Markets are starting to price in an incoming Fed pivot as bank instability forces central banks to protect the financial system.Analysis from CryptoQuant analyst Cristian Palusi suggests that the liquidity crises now plaguing commercial banks may be a “long-awaited buy signal” for Bitcoin. Banks Down, Bitcoin Up In a post published on Thursday, Palusci noted...Read More
BitMEX co-founder and crypto-essayist Arthur Hayes published a lengthy blog post on Thursday breaking down the Federal Reserve’s new program to protect the banking system – and what it means for Bitcoin. The initiative titled the “Bank Term Funding Program” is regarded by Hayes as a “repackaged” form of Yield Curve Control (YCC) that will...Read More
Ryan Selkis – CEO of the crypto intelligence firm Messari – believes there will be more negative events in the financial world in the near future, including bank crashes. He sees bitcoin acting as “a life raft and peaceful exit option” amid the calamity, predicting its price could soar to $100,000 in the next twelve...Read More
The turbulence in the banking industry has influenced the world of cryptocurrencies, particularly Bitcoin. While there was apprehension about the viability of digital currency, recent developments reveal a renewed sense of optimism among traders and analysts as Bitcoin rose to its highest value since June 2022. However, the question remains: is Bitcoin’s recent surge sustainable?...Read More
For the first time since June last year, Bitcoin price traded above $26k on Tuesday. While the spike was short-lived, over $311 million was liquidated from the cryptocurrency market, thus insinuating a bear trap. Nonetheless, Bitcoin price is up over 11 percent in the past seven days to trade at around $24.8k during the Asian...Read More
Bitcoin soared to a high of $26,514 on Tuesday, up 30% since crashing below $20,000 on Friday. What caused the king of crypto to rebound in such a spectacular fashion? Here are three possible reasons: Silicon Valley Bank’s Bailout Much of Bitcoin’s price trouble last week stemmed from uncertainty surrounding the crypto industry’s biggest banking...Read More
The fresh CPI rates are out! The new rates have emerged as expected at 6% which kicked off the BTC price rally beyond $26,000. The bulls appear to be exhausted a bit as the prices are consolidating just below the yearly highs. But will the price continue to swing high or it is just a...Read More
Bitcoin’s price action has been a topic of concern for traders and investors worldwide. Expert Michael van de Poppe recently shared his technical analysis of the cryptocurrency, highlighting its potential for a rally amidst the ongoing collapse of the US banking system. Van de Poppe, a well-known trader, and analyst emphasized the importance of yields...Read More
Robert Kiyosaki – an American businessman, investor, and motivational speaker better known as the author of the bestseller “Rich Dad, Poor Dad” – thinks the current crisis in the banking sector will intensify. As such, he advised investors to focus on bitcoin, gold, and silver, arguing those assets could save them amid the potential turbulence....Read More
It’s been one year since the Swiss city of Lugano established Bitcoin and Tether (USDT) as de facto legal tender within its borders. Since then, how has its adoption initiative fared?On Monday, Tether published a breakdown of various milestones the city has reached around crypto infrastructure and education under “Plan B.” According to Tether’s post,...Read More
A second-year B.Com student from the Indian city Lucknow reportedly hanged himself after losing a bitcoin investment worth ₹3.5 lahks ($4,200). The local police assured they will investigate the tragic event once the victim’s family filed a complaint. Depression and Then Suicide According to coverage by Hindustan Times, the boy distributed the sum through an online...Read More
According to Dua Crypto’s research, The Netherlands rank as the most interested European nation in cryptocurrencies. Russia (where the local central bank is predominantly negative on the asset class) is at the bottom of the list. Bitcoin (BTC) is the most popular digital currency in most countries, while Dogecoin (DOGE) is second. The Dutch Reached...Read More
Arthur Hayes, the co-founder of cryptocurrency derivative trading platform BitMEX, has proposed a new type of stablecoin, NakaDollar (NUSD), which would be backed by bitcoin (BTC) and bitcoin derivatives. Hayes noted in a blog post that, unlike a majority of already existing stablecoins, including Tether USD (USDT), USD Coin (USDC), and Binance USD (BUSD), NUSD...Read More
The crypto market is currently bleeding as Bitcoin price leads the bearish momentum. While Bitcoin is struggling to claim its lost $22,000 level, major altcoins have lost more than 80% from their highs. At the time of writing, Bitcoin is changing hands at $21,737 after a loss of 1.80% from the previous day trade. Immediate...Read More
Following the collapse of FTX – and the subsequent inquiries into just how much Silvergate knew about the business dealings of the FTX Group – trouble began brewing for the bank. Looming Trouble These troubles only began compounding. First, Silvergate announced that they would be delaying the results of their K-10 report by several weeks,...Read More
Glassnode has detected the movement of approximately 40,000 Bitcoins tied from wallets tied to seizures conducted by US law enforcement. The transfers have sparked concerns about a sell-off primarily because such an activity could point towards a potential sale that could put significant pressure on Bitcoin’s price. Bitcoin is currently facing significant sell pressure after...Read More
The bitcoin price, after consolidating within a very narrow range for a few days, plunged below the crucial support level of $22,000. The bearish volume has accumulated heavily, which may keep the rally within the consolidation range for an extended period. Hence, the price is believed to test the lower support below $21,500 in the...Read More
A scalability solution unique to Ethereum is now compatible with Bitcoin. Rollkit allows for the storage of rollup information developed for Ethereum but on the Bitcoin network. According to an official statement, Rollkit — a modular framework for rollups — was successfully launched on march 5, 2023. The solution could, at least in theory, help...Read More
Grayscale and the Securities and Exchange Commission (SEC) have presented their first oral arguments in court regarding the approval/ denial of a Bitcoin a spot ETF product in the United States. During the hearing, judges pressed the SEC on its justification for simultaneously approving multiple Bitcoin Futures ETFs, while denying an equivalent spot ETF. Spot...Read More
Alameda Research – sister trading firm to the now bankrupt FTX exchange – is suing the world’s largest Bitcoin fund on behalf of FTX’s debtors and affiliates. The company demands that Grayscale permit redemptions on its Bitcoin and Ethereum Trusts, which could cumulatively unlock over $9 billion for the trust’s shareholders. Grayscale’s Bitcoin Stash Per...Read More
The negative sentiment in digital asset investment products reached the fourth week recording an outflow of $17 million. Confirming the same, the latest edition of the CoinShares report stated, “The poor sentiment likely represents continued investor concerns over regulatory uncertainty for the asset class.” Institutional investors are feeling the pressure as the US regulatory agency,...Read More
While many were excited when Yuga Labs announced its first ordinals NFT collection last month, the exact nature of its auction process is proving highly controversial. Casey Rodarmor – the inventor of Ordinals – called the NFT giant’s sale “degenerate” due to putting its participants’ Bitcoin holdings at risk. The Problem With Bitcoin Auctions In...Read More
The chief obstacle for bitcoin mining has shifted from solely procuring top-of-the-line mining equipment due to the closure of Chinese miners amidst regulatory restrictions, leading to a surplus of available equipment. Instead, the current dilemma is centered around resolving apprehensions related to environmental, social, and governance (ESG) issues concerning energy consumption and its impact on...Read More
Bitcoin displayed an unexpected move in the past few days by squashing the possibilities of reaching $30,000, enrouting through $25,000 initially and later at $28,000. However, the recent price plunge changed the entire scenario, as now the price is expected to revisit the support below $20,000 again. The price of Bitcoin dropped from the ascending...Read More
In a post-FTX world, it’s really hard being a crypto executive. Not only are your bags empty and revenues down, but you also have United States financial regulators breathing down your neck with subpoenas one day, and lawsuits the next. It’s understandable, then, why industry leaders like Brian Armstrong may wish to present themselves to...Read More
BitMEX co-founder Arthur Hayes published an essay on Thursday outlining “realistic potential situations” that could make oil prices boom, and make Bitcoin’s price skyrocket as a result. The former CEO argued that such a scenario could spur central banks across the world – including the Federal Reserve – to return to a market-friendly loose monetary...Read More
With hotter-than-anticipated economic data released in February, uncertainty over inflation has increased, and the U.S. stock market is now at a crucial crossroads. Despite growing concerns among investors, the economy displays signs of resilience that may help safeguard Bitcoin against a significant downward shift. Although Bitcoin investors are advised to remain cautious until the release...Read More
Bitcoin price dropped below $22,500 from $23,400 in minutes following the Silvergate fiasco. Major exchanges stopped dealing with the crypto-friendly bank that created huge FUD within the space. As a result, massive liquidations were recorded in the early trading hours. While the market participants have become extremely bearish on Bitcoin, some chances of a rebound...Read More
Following an ultimately flat February, eager investors are curious: what’s in store for Bitcoin’s price this March? Here’s a look at how Bitcoin has performed each March over the last 12 years. On average, the asset’s price has risen by 10% each time. Bitcoin, March, and the Halving In its earliest days, March wasn’t a...Read More
Bitcoin prices remain in consolidation following a 42% rally off the cycle bottom this year, but on-chain metrics are hitting new highs. Despite the 2023 crypto market rally, Bitcoin remains down 66% from its all-time high of 69,000 in November 2021. Those that missed the cycle bottom of $16,500 in mid-November may still have opportunities...Read More
