Bitcoin

Bitcoin Leaves Exchanges in Droves as Daily New Addresses Increase

Bitcoin (BTC) investors are moving their assets out of crypto exchanges at an increasing rate. An analysis from on-chain intelligence platform CryptoQuant revealed that over the past few days, exchanges have witnessed a rising outflow of BTC, even though the leading digital currency has been in a fluctuation area since February. While the outflows from...
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Grayscale Launches Mini Spot Bitcoin ETF at ‘Ultra-Low’ 0.15% Fee

The crypto investment management company has launched a new product called the Grayscale Bitcoin Mini Trust, which has the ticker $BTC. The new offering, endorsed as a spin-off of Grayscale’s Bitcoin exchange-traded fund (ETF) GBTC, has a competitive, “ultra-low” fee of 0.15%. Grayscale’s New Spin-Off Fund Months ago, Grayscale filed for the Mini Trust fund...
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Goldman Sachs CEO Predicts Bitcoin Could Rival Gold as a Store of Value

Goldman Sachs CEO David Solomon said that bitcoin could “very well” serve as a store of value similar to gold. Solomon’s comments come at a time of growing debate over bitcoin’s potential as a reserve asset and store of value. Bitcoin’s Potential as a Store of Value In a July 30 CNBC interview, Solomon said...
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WisdomTree CEO Lists 3 Reasons Why Bitcoin Will See Mass Adoption Soon

In a recent interview with CNBC, WisdomTree CEO Jonathan Steinberg shared his optimistic outlook on the future of Bitcoin and cryptocurrencies, predicting their mainstream adoption within the next few years. Steinberg cited regulatory clarity, the emergence of publicly traded crypto funds, and the tokenization of real-world assets (RWAs) as the main drivers of this trend....
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This is Why Bitcoin May Pull Further Back, According to Bitfinex Analysts

Bitcoin (BTC) briefly crossed the $70,000 mark on Monday morning before dumping to $66,000, but analysts at the crypto exchange Bitfinex say the leading digital asset may pull back even more in the coming days. According to the latest Bitfinex Alpha report, bitcoin’s possible decline may be caused by significant downward pressure on implied volatility...
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US National Debt Hits Record $35 Trillion, Can a Bitcoin Reserve Strategy Help?

This week, the U.S. national debt surpassed $35 trillion for the first time ever. Moreover, America has added around $12 trillion in federal debt since 2020. To put it into perspective, the U.S. has added an average of $280 billion of federal debt every month since January 2020. The country now has around $105,000 in...
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Known Bitcoin Holder Abducted and Murdered Over 3 BTC

Kyiv police have detained four men, aged between 24 and 29, for the abduction and murder of a 29-year-old foreigner. The crime was driven by the motive to steal nearly 3 bitcoins (BTC), valued at approximately seven million hryvnias ($170,000). Details of The Abduction and Murder According to a report from the National Police of...
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Cantor Fitzgerald Announces $2 Billion Bitcoin Financing Initiative

Cantor Fitzgerald announced that it will open a Bitcoin financing business. The business will provide leverage to investors who hold Bitcoin and will launch with $2 billion in initial financing. Bitcoin Financing Business At the Bitcoin Conference 2024, Cantor Fitzgerald CEO and Chairman Howard Lutnick said on stage, “We will build the best platform for...
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Bitcoin Plummets Under $67,000 As U.S. Government Moves $2 Billion In Bitcoin

On-chain analysts just caught the U.S. government moving around $2 billion worth of its massive BTC holdings, sparking market panic that it might be preparing for another sale. Meanwhile, Bitcoin’s price has steadily declined throughout the day, tapping $70,000 at 13:15pm UTC before crashing to $66,900 by 17:26 UTC. At 16:18 UTC, data from Arkham...
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Hong Kong Joins Bitcoin Reserve Debate, Legislator Calls for Consideration

Hong Kong Legislative Council Member Johnny Ng said that the city-state should follow suit if the United States decides to implement a Bitcoin strategic reserve. The concept is now likely being discussed across the globe following remarks by two of three US presidential candidates over the weekend. “Regarding Bitcoin becoming an official financial reserve for...
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Senator Lummis Proposes $67B Strategic Bitcoin Reserve to Back USD

The proposal came during a speech by the Republican representative for Wyoming at the Bitcoin 2024 Conference in Nashville on July 27. “We can create a brighter future for generations of Americans by diversifying into Bitcoin and being the first developed nation to create a strategic reserve,” she said. US Bitcoin Reserve The pro-crypto politician...
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Nansen Says Bitcoin Investors Should Become Risk-On, Here’s Why

On-chain analytics platform Nansen believes bitcoin (BTC) investors should adopt a risk-on strategy amid the market’s current condition because all tactical signals are flashing green. According to the firm’s weekly research report, crypto narratives are currently positive and increase the likelihood of higher risk-adjusted crypto returns in the near term. Bitcoin Investors Should Become Risk-On...
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Europol Claims That Bitcoin Remains Top Choice for Criminals

Bitcoin has remained the most used cryptocurrency by criminals, even with the rise of privacy coins like Monero. According to the recent Europol Internet Organized Crime Threat Assessment report, financial crimes are also still the main illicit crypto use. Bitcoin’s Popularity with Criminals Sparks Concerns Bitcoin has been the preferred asset for ransomware groups due...
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Here’s Why VanEck’s CEO Holds ‘Way Over 30%’ of His Portfolion in Bitcoin

Jan van Eck, the CEO of the investment management company VanEck, highlighted some of Bitcoin’s most notable merits during the ongoing BTC Conference in the States. Additionally, he said that ‘way over 30%’ of his portfolio has been allocated to the primary digital asset. VanEck is among the financial giants that filed and later launched...
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RFK Jr. Proposes Massive Bitcoin Buy: Match US Gold Reserves with BTC

Kennedy proposes that the federal government should buy Bitcoin until its holdings match the value of the nation’s gold reserves. US gold reserves are currently around 8,133 tonnes, which is worth around $615 billion. So, this amount of Bitcoin would equate to roughly 9.4 million BTC, which is almost 45% of the total supply. “I...
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The State Of Michigan Has Bought Bitcoin In Its Pension Fund

Yet another regional government has disclosed an allocation to the newly launched Bitcoin ETFs, forging another step in Bitcoin’s growing adoption among not only institutions but also governments. In a Form-13F filed on Friday, the State of Michigan Retirement System revealed that it had $6.6 million allocated to Bitcoin ETF products as of June 30....
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Here’s Why Bitcoin’s Net Flows to Exchanges Have Hit a Yearly High: ITB

Since the beginning of the month, bitcoin (BTC) flows into crypto exchanges have been on the rise. This is primarily due to creditor distributions by the rehabilitation trustee of the defunct BTC trading platform Mt. Gox. Data from blockchain analytic platform IntoTheBlock has revealed that July 25 saw the exchange BTC net flows hit a...
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Scaramucci Slams Claims of Harris’s Anti-Crypto Bias, Critiques Trump’s Transactional Approach

Amidst significant backlash for opting not to speak at the Bitcoin Conference, Vice President Kamala Harris has found an ally in SkyBridge founder Anthony Scaramucci. Voicing his support for the presumptive Democratic presidential nominee, Scaramucci criticized the ongoing narrative suggesting Harris’s administration’s hostility towards crypto. He contrasted this with former President and Republican nominee Donald...
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Marathon Digital Increases Bitcoin Stash With $100M Purchase

Marathon Digital, the world’s largest Bitcoin mining company, has announced its latest purchase of $100 million worth of BTC, increasing its stash to more than 20,000 BTC. According to a press release, Marathon is changing its approach to its Bitcoin treasury policy and adopting a full HDOL strategy. This means that the miner will hold...
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VanEck Predicts Bitcoin Could Reach $2.9 Million by 2050 If This Happens

Investment management firm VanEck has outlined a scenario in which bitcoin (BTC) could reach $2.9 million per coin by 2050. This forecast is based on their “base case scenario,” which envisions bitcoin becoming a key international medium of exchange and ultimately growing to be one of the world’s reserve currencies. The Road to $2.9 Million...
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Kamala Harris Will Not Attend the Bitcoin Conference

Harris, who was nominated as candidate for the presidential election when Joe Biden bowed out of the race on July 21, may even speak at the upcoming Bitcoin 2024 conference in Nashville which starts on July 25. On July 24, the CEO of the event, David Bailey, said that they were in talks with the...
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No Forks Required: BitcoinOS Verifies First ZK Proof In Bitcoin History

Developers at BitcoinOS (BOS) made blockchain history on Tuesday by successfully verifying the first-ever zero-knowledge proof (ZKP) on Bitcoin mainchain. This milestone opens the door to truly minimized Bitcoin layer 2 rollup systems, offering limitless scalability and functionality for Bitcoin without needing changes to its underlying consensus code. Bitcoin Now Has ZK Proofs According to...
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Bitcoin Banking App Fold Will Soon Trade On The NASDAQ

Fold, a popular Bitcoin financial services platform, has confirmed arrangements to become a publicly traded company on the NASDAQ stock exchange. The firm’s entry will add another tally to the growing list of public stocks that keep a large swath of Bitcoin directly on their balance sheet. Bitcoin Banking Gone Public Per a press release...
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Demand-Supply Power Tussle: Analyst Sees 3 Bullish and 2 Bearish Bitcoin Price Signals

Popular crypto analyst Willy Woo has identified an ongoing power tussle (or tug-o-war, in his words) between demand and supply in the Bitcoin ecosystem. In a tweet, Woo outlined three bullish and two bearish factors that could decide bitcoin’s (BTC) price trajectory in the near term. He opined that the bullish signals overpower the bearish...
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Mt. Gox Bitcoin Movements Continue, Trustee Transfers $2.47B in BTC to Unknown Address

Bitcoin movements from the rehabilitation trustee of the defunct crypto exchange Mt. Gox are still ongoing. The wallet linked to the defunct entity just moved $2.47 billion worth of bitcoins (BTC) to an unknown address. According to data from the blockchain intelligence platform Arkham, the wallet transferred 32,371 BTC to the unlabelled address at around...
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US Government Transfers Nearly $4M Worth of Seized Bitcoins to Coinbase

The US government transferred 58.742 BTC – worth nearly $4 million, to crypto exchange Coinbase on Monday. According to the latest data compiled by blockchain analytics firm Arkham Intelligence, the transfer came from an address labeled “US Government: Ryan Farace Seized Funds,” identified on the blockchain as 3B2jEBZi8fJWGEDrh6Pe7hDMaJ6iGfFtaU. These funds were confiscated three years ago...
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Bitcoin Miners Return to Profitability as BTC Continues Market Recovery: Bitfinex

Bitcoin miners are in the green again following BTC’s massive recovery over the past week. On-chain data suggests miners’ BTC sales to upgrade machinery and sustain operations are ending. The Miner Sustainability metric, an indicator that evaluates the profitability of mining activities after accounting for the cost of hardware and operations, shows that this cohort...
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Coinbase Premium Turns Positive in Early July: A Signal of Renewed Institutional Interest?

The Coinbase premium turned positive in early July after a period of concern following a dip in mid-May According to research from Kaiko, this could hint at a resurgence of institutional interest in Bitcoin. Renewed Institutional Interest The Coinbase premium, which measures the difference between hourly bitcoin prices on Coinbase’s BTC-USD pair and Binance’s BTC-USDT...
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Short Bitcoin ETFs Take a Hit With $1.9M in Outflows: Are Bears Losing Their Grip?

Investment in digital asset products continued to rise, with inflows reaching $1.35 billion last week, totaling $3.2 billion over the past three weeks. Trading volumes for Exchange Traded Products (ETPs) also saw a significant increase, up 45% week-over-week to $12.9 billion. However, this accounted for a lower-than-usual 22% of the overall crypto market volumes. Bitcoin...
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Here’s the Percentage of Bitcoin Addresses in Profit Following Surge to $67K: ITB

Bitcoin’s latest uptrend and surge to the $67,000 level have put many investors in the money, with the majority of addresses holding the primary cryptocurrency flashing green. A tweet from IntoTheBlock has revealed that 93% of addresses holding BTC are in profit again. Historical data from the on-chain intelligence platform shows that Bitcoin holders have...
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