Fitch downgraded the U.S. government’s credit rating Tuesday, citing the national debt and deteriorating politics. Bitcoin is already looking good this year with the NFTs. But this really puts the shine on BTC. One of the “Big Three” credit ratings companies, Fitch, notched the United States’ rating down from AAA to AA+ this week. Only...Read More
Ken’s job in the Barbie movie might literally be Bitcoin. Influencers across the crypto sphere went wild for Robbie’s remarks last week. During a recent interview, the Australian actress (Wolf of Wall Street, Suicide Squad) said Bitcoin talk is “Big Ken Energy.” Ken, of course, is Barbie’s boyfriend. The Ken doll first debuted in 1961,...Read More
Ron DeSantis – Governor of Florida and one of the Republicans’ presidential nominees – stated that the “war on Bitcoin and cryptocurrency” that Biden’s administration has supposedly waged will cease should he become the next political leader of the United States. He also reiterated his hostile stance toward central bank digital currencies, saying such a...Read More
The Federal Financial Supervisory Authority of Germany (better known by its abbreviation BaFin) launched an investigation against the cryptocurrency platform Bitcoin Bank Breaker. The watchdog believes there are several red flags surrounding the firm, suspecting it of functioning without the necessary authorization. BaFin warned German consumers to be extra careful when dealing with the cryptocurrency trading...Read More
The Federal Reserve rose its target interest rate by 25 basis points on Wednesday, in line with market expectations. This brings the central bank’s rate to over 5.25% – one of its highest levels since the lead-up to the 2008 financial crisis. The latest hike marks the Federal Reserve’s 11th rate hike over its last...Read More
Bitcoin whales typically capture the stagnant market conditions to accumulate more coins. This trend continued even during the underwhelming price performance of Bitcoin in recent months, as new analysis suggests a dramatic uptick in whale activity during the period. Glassnode’s latest edition of “The Week On-Chain,” observed that the aggregate Whale balance has declined by...Read More
According to the crypto market data provider Kaiko, Bitcoin’s correlation with the S&P 500 Index has dropped to a two-year low at just 3%, highlighting the asset’s increasing independence from traditional finance. Some experts have argued over the years that such a development could act as a catalyst and push BTC’s price to a new all-time...Read More
Bitcoin has been trading within the $28k to $32k range for nearly four months. Historically, the crowd has been known to get very polarized when a top crypto asset goes for an extended period of time in a tight price range. Investors now have the option of thousands of other assets when they become restless...Read More
Bitcoin (BTC)’s supply and demand dynamics suggest that the asset could surge as high as $180,000 by April 2024, according to a research note from Fundstrat on Monday. The forecast – which precedes the U.S. central bank’s next meeting – largely rests on a Bitcoin spot ETF being approved in the United States, which the...Read More
A Bitcoin wallet that was inactive for more than a decade has recently sent out more than $30 million worth of BTC to another address. The whale received the stash in mid-April 2012 when the USD valuation of the primary cryptocurrency was south of $5. As revealed by Lookonchain, the mysterious whale who was hibernating...Read More
The United States Securities and Exchange Commission (SEC) has reportedly put six spot Bitcoin exchange-traded fund (ETF) applications under review, marking the first step before officially approving or rejecting them. Finance giants, including BlackRock and Fidelity Digital Assets, have recently displayed ambitions to launch such ETFs, infusing enthusiasm in the crypto space and positively affecting...Read More
Nassim Nicholas Taleb – the author of the book “The Black Swan” who is among crypto’s biggest critics – launched another bashing manifest against the asset class. He believes the mania surrounding bitcoin and the alternative coins have started fading out because young people have turned their focus toward Artificial Intelligence (AI). The Latest Dose...Read More
On July 21, prominent on-chain analyst Willy Woo said that there were early signs that Bitcoin consolidation is nearing completion. The asset has been very tightly range-bound for the past month. The longer-term view stretching back four months also shows sideways trading between larger boundaries. Futures demand is currently moving the market, said Woo before...Read More
The latest influx of Bitcoin (BTC) spot ETF applications in the United States is certainly generating hype, but some analysts are split on whether that excitement is warranted. While many claim approval will invite a new wave of investor capital into the asset, others think it may only amount to a sell-the-news event. The Bearish...Read More
On-chain data examined by blockchain analytics firm IntoTheBlock has revealed that roughly 29% of all bitcoins (BTC) in circulation have remained unmoved for more than five years. In a Monday tweet, analysts at the firm said a large part of the unmoved assets might be lost coins. Ever wondered how many Bitcoins are lost forever?...Read More
Bitcoin jumped by a few hundred dollars minutes after the US announced the CPI numbers for June. It’s worth noting that both the core and the overall Consumer Price Index were lower than estimated. According to an analysis made ahead of the CPI announcement for June, the general estimations suggested a decline in the inflation...Read More
MicroStrategy is the world’s largest corporate holder of Bitcoin. The company is currently holding a whopping 152,333 BTC, worth over $4.6 billion at current prices. One of the most commonly discussed points by crypto traders and investors alike is whether the company has a liquidation threshold and if it will ever have to sell BTC....Read More
Robert F. Kennedy – a US presidential candidate from the Democratic party and an outspoken advocate of the cryptocurrency industry – revealed owning between $100,001 and $250,000 worth of bitcoin. The disclosure comes approximately two months after the Miami BTC conference, where he said he is not a crypto investor. Kennedy Owns Over 3 BTC...Read More
One of the leading cryptocurrency mining companies – Marathon Digital – produced 979 BTC in June, 21% less than the 1,245 BTC mined in May. As of the end of last month, the company owned 12,538 BTC, making it one of the biggest corporate holders of the primary digital asset. The June Figures The US-based...Read More
Bitcoin (BTC) has treated its faithful well in 2023, having appreciated over 80% year to date. However, there may be better ways for investors to capitalize on the asset’s success besides stacking actual sats. Here’s a look at how some Bitcoin-related assets and companies are performing next to BTC, from financial companies to mining stocks....Read More
Arthur Hayes, the co-founder and former CEO of cryptocurrency exchange BitMEX, believes bitcoin (BTC) will be chosen by artificial intelligence (AI) as the currency for their economic activities in the future. In a lengthy Substack essay posted on July 7, the American entrepreneur laid out reasons for his belief, presenting arguments and conclusions to prove...Read More
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
Bitcoin Depot – a US-based Bitcoin ATM provider – announced it will start trading on Nasdaq on July 3 after partnering with the fintech company GSR II Meteora Acquisition Corp. Previous reports revealed that the agreement between the two entities is worth $885 million. ‘BTM’ Pops up on Nasdaq The partners announced the finalization of...Read More
John Michael Musbach – a 34-year-old resident of Haddonfield, New Jersey – was reportedly sentenced to six and a half years in jail for hiring a hitman to commit a murder. He transferred $20,000 worth of BTC to the “executor” to kill a kid that was about to testify against him in a child-pornography case....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
The North Carolina House of Representatives has passed a bill that includes provisions to investigate the acquisition and potential benefits of Bitcoin and other cryptocurrencies. House Bill 721, titled “State Precious Metals Depository Study,” aims to examine the potential impact of a state securely holding, insuring, and liquidating virtual currency, with special emphasis on Bitcoin....Read More
Bitcoin surging past the $31,000 psychological level was crucial in many ways. For one, the world’s premier cryptocurrency hit a one-year high amidst the incessant bear market. But the gains may not stop here. Historically, July has been a month for strong rallies, according to the digital asset platform Matrixport. In its latest analysis, Bitcoin...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
