In 2023, Bitcoin has delivered remarkable gains, surpassing the initial recovery phase and resuming an upward trajectory. The crypto-asset’s price has been hovering a little over $34,000 as it continues to ride on the coattails of spot ETF hype. But it is approaching the overheating zone, something that investors should pay attention to. According to...Read More
In a move that has sent shockwaves through the cryptocurrency market, a staggering 19,197 Bitcoin (BTC), equivalent to approximately $652 million, has been withdrawn from Binance, one of the world’s largest cryptocurrency exchanges. Notably, the withdrawal was carried out in two transactions as highlighted by Blockchain.com. This event has ignited intense speculation and discussions among...Read More
In September, a Seattle startup lab of white hat hackers sent proof to a senior writer at WIRED Magazine that they could crack the IronKey S200 thumb drive containing 7002 Bitcoins. But former Ripple CTO Stefan Thomas incredibly refused an offer by the Seattle startup, named Unciphered, to access the USB drive for him. Fmr....Read More
Bitcoin price surged in a breakout rally to briefly touch $35,000 this month. But Euro Pacific Capital’s founder and chief global strategist doesn’t think it will last. This month saw the ever-widening buzz surrounding a hotly anticipated approval by the SEC of a spot Bitcoin ETF. The excitement has pushed blowout Bitcoin sales on crypto...Read More
As Bitcoin hovers near the $35,000 mark, igniting a widespread surge in the crypto market, a new report hints at more gains in the offing for the flagship crypto asset. Matrixport, the digital asset trading firm established by Wu Jihan, co-founder of Bitmain, believes the current bull market actually initiated in June this year when...Read More
Bitcoin (BTC)’s explosion to a new yearly high on Monday has placed the vast majority of investors’ holdings back into profit, according to a new report from Glassnode. The blockchain and market intelligence platform said that 4.7 million BTC flipped green after the rally, representing 24% of Bitcoin’s circulating supply. Chaos In The Derivatives Market...Read More
The Depository Trust and Clearing Corporation (DTCC) removed BlackRock’s Bitcoin ETF, iBTC, from its ETF list shortly after its addition on Monday. Bitcoin’s price dropped by 3% in response, falling from $34,527 to $33,432 within 30 minutes shortly after the removal was noticed. The drop appears to have triggered $37 million in long liquidations across...Read More
Bitcoin is growing increasingly scarce, and its price movements are finally showing it. Recent statistics from the on-chain analytics platform IntoTheBlock reveal that an unprecedented portion of the accessible BTC supply has been securely stashed away for the long term. Long-Term Bitcoin Holders Remain Resilient Long-term Bitcoin holders have significantly ramped up their exposure to...Read More
While maintaining the $30,000 mark is proving challenging for Bitcoin, there appears to be a noteworthy surge in bullish sentiment. It can be attributed in part to the increased optimism of investors regarding the potential approval of a spot Bitcoin ETF in the US. A potential approval can push Bitcoin between $42,000 and $56,000, according...Read More
While giving a recent keynote address for Zoom’s 2023 Zoomtopia Conference, the Berkshire vice president said Bitcoin is the “stupidest investment I ever saw.” He didn’t stop there, though. Charlie Munger went on to say that most cryptocurrencies aren’t just unprofitable, but he thinks bagholders will eventually lose all their money: “Don’t get me started...Read More
Bitcoin briefly soared toward $30,000 following a false spot Bitcoin ETF approval information before swiftly retreating to the $28,000 level. But an actual approval could add $1 trillion to the crypto market, according to the latest report by CryptoQuant. The next wave of Bitcoin institutional adoption appears to be advancing in the form of financial...Read More
Grayscale Bitcoin Trust (GBTC) – the world’s largest Bitcoin fund – reached its lowest point in 22 months last Friday. The decline in the discount has sparked optimism as spot Bitcoin exchange-traded funds (ETFs) in the United States are moving closer to becoming a reality. This comes as the SEC passed the deadline to appeal...Read More
Bitcoin has surged past the $28,400 mark for the first time since mid-August, sparking investor optimism that “Uptober” has arrived. Data indicates that BTC wallets have accumulated billions of dollars in the last month, potentially driving prices even higher. A similar sentiment was voiced by experts who embraced the bullish outlook as the leading cryptocurrency...Read More
Bitcoin’s price has found itself trapped beneath the $27,000 mark amidst a significant decline in spot trading volumes that hit a 6-year bottom. This substantial slump in spot trading activity can be attributed to the growing fear surrounding the macroeconomic landscape. However, this downward trend in spot trading has an interesting side, according to CryptoQuant....Read More
Though Bitcoin (BTC) continues to trade well below its 2021 November 2021 highs, Anthony Scaramucci, the founder of SkyBridge Capital and former White House communications chief, remains steadfastly bullish on the asset. Speaking at the Messari Mainnet conference in New York, Scaramucci expressed confidence that the worst of the bear market is now behind us....Read More
Despite a lull in the broader crypto market, the industry is buzzed with excitement as heavyweight financial institutions throw their hats into the ring for a spot Bitcoin ETF. The latest one to join the race is – Franklin Templeton. In the fast-paced world of crypto, nothing lasts for a very long time. This also...Read More
Following a period of substantial capital inflows at the beginning of the year, the recent months have witnessed a shift towards either neutral or negative inflows, suggesting a period of stagnation as uncertainty took over the asset class. According to blockchain intelligence platform Glassnode, the market has been hovering on a relatively neutral level since...Read More
BitMEX co-founder Arthur Hayes said that the recent decision by the United States Federal Reserve (Fed) to lower interest rates is expected to trigger a rapid surge in Bitcoin’s price, potentially propelling it toward the $70,000 mark. Hayes had previously predicted that Bitcoin would reach this level after March, but the Fed had increased interest...Read More
Liquidity across the crypto market continues to dry up, with both on-chain and off-chain volumes reaching historical lows. These were the findings from analytics provider Glassnode in its latest weekly report on Sept. 11. Moreover, a “significant proportion” of the BTC supply is teetering on the edge of falling into a significant unrealized loss, it...Read More
Jay Clayton – former Chairman of the US Securities and Exchange Commission (SEC) – thinks the regulator will sooner or later approve the launch of a spot Bitcoin exchange-traded fund (ETF). The agency recently decided to delay the applications of BlackRock and numerous other finance giants who displayed ambitions to introduce such a product. Clayton...Read More
While Bitcoin network fundamentals such as hash rate and difficulty have reached peaks, the same cannot be said for its hash price. The world’s largest crypto’s price has failed to recover, and miners are facing the brunt of it yet again. Bitcoin hash price – which can be described as the revenue generated by miners...Read More
The latest edition of the weekly report from crypto exchange Bitfinex has revealed that Bitcoin’s mining difficulty reached a new peak as BTC hovered around the $26,000 price level. The “Bitfinex Alpha” report disclosed that the mining difficulty hit an all-time high of 55.62 trillion hashes. Bitcoin’s Mining Difficulty Hits New High The mining difficulty...Read More
According to Bloomberg Intelligence, the highly-anticipated launch of a spot Bitcoin exchange-traded fund (ETF) in the United States could occur right before Labor Day (September 4). The entity said that the US Securities and Exchange Commission (SEC) is expected to respond to several applications from BlackRock, Bitwise, WisdomTree, VanEck, and Invesco in the following days....Read More
Crypto markets pumped $65 billion following the news that a court ruled in favor of Grayscale in its lawsuit challenging the SEC’s decision to deny conversion of its GBTC fund to an ETF. The big move has reversed the recent bearish sentiment as market analysts and observers are now eyeing the next bull cycle. On...Read More
Long-term Bitcoin holders have proved to be highly resilient but data suggest that this cohort of market players had the inkling of a favorable outcome. Bitcoin received a major push following the Grayscale court victory against the US Securities and Exchange Commission (SEC). However, preceding this event, there was significant accumulation amidst a period of...Read More
Miami’s mayor – Francis Suarez – announced his withdrawal from the US Presidential race without providing an exact reason for his decision. He is known as an outspoken proponent of bitcoin who has invested some of his wealth in the primary digital asset. Suarez also became the first American politician to receive his salary in...Read More
Bloomberg Intelligence analyst Mike McGlone believes Bitcoin spot ETF approval is “inevitable” – but one bearish influence still remains: the Federal Reserve. Given the ongoing hawkishness of most central banks worldwide, the analyst believes further downside pressure for both Bitcoin and stocks could lie ahead. The Fed’s Looming Influence As tweeted by McGlone, while the...Read More
Bitcoin has wiped off all the gains it made after the Grayscale victory over the SEC. Leading up to the fact, several thousands of BTC were sent to crypto exchanges primarily driven by investors seeking to capitalize on the positive news as many anticipated a favorable outcome. Interestingly, this influx of BTC into exchanges shows...Read More
KuCoin’s most recent report focused on the crypto trends in Turkey estimated that 52% of the locals aged 18 to 60 have already invested in bitcoin or alternative coins. The figure was 40% in November 2021, indicating that Turks have shown great interest in employing digital assets as a hedge against inflation in the past...Read More
The leading cryptocurrency miner – Argo Blockchain – has reportedly decreased its debt to $75 million during the first half of the year. In comparison, it owed $143 million at the end of June 2022. The company also managed to reduce overall costs and expenses. However, revenue in H1 was significantly less than the one...Read More
