Mark Newton – technical strategist at the investment insights firm Fundstrat – is not convinced that Bitcoin has reached its bottom. He claims there is a significant chance of a “final washout” style event that could take the top cryptocurrency as low as $12,500. One Last Crash? As Newton explained in a note to Bloomberg...Read More
With bitcoin losing nearly half its value at one point a week ago and marking an 18-month low, the asset’s situation seemed gloomy at best. However, there are some positive signs as investors have been continuously withdrawing their BTC holdings from exchanges. BTC on Exchanges Sees 3-Year Lows A lot has been said about what...Read More
The Swiss luxury watchmaker – Hublot – allowed its customers to buy certain limited products in cryptocurrencies by partnering with the bitcoin payment service provider – BitPay. In addition, Prague City Tourism joined forces with Global Payments to enable passengers of the emblematic Tram Line number 42 to purchase tickets in digital assets. Hublot Enters...Read More
Coinbase Derivatives Exchange, previously FairX, is all set to launch its first listed crypto derivatives product – Nano Bitcoin futures (BIT). BIT Futures on Coinbase Derivatives Exchange According to the official announcement, BIT will be available to retail investors to trade from June 27 on the CFTC-regulated futures exchange. Boris Ilyevsky, Head of Coinbase Derivatives...Read More
Ethereum competitor Avalanche announced new support for native Bitcoin (BTC) through its bridge solution built on its crypto wallet Core. Following the news, its native token AVX spiked higher, outperforming major digital assets like Bitcoin and Ethereum in the past 24 hours. Wrapped BTC on Avalanche Ava Lab – the foundation behind the smart contracts...Read More
Binance US – the US-based division of the world’s largest crypto exchange – announced a new pricing model that offers zero fees for four bitcoin trading pairs, including BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD. The crypto giant becomes the first American exchange that makes such a service available to its users. The elimination of such trading...Read More
Michael Sonnenshein, the CEO of the leading crypto asset manager, Grayscale Investments, believes the launch of ProShares’ Short Bitcoin Exchange-Traded Fund (ETF) could be a positive sign for the industry. SEC Becoming More Comfortable With Bitcoin In a Twitter thread on Tuesday, Sonnenshein noted that he believes the United States Securities and Exchange Commission (SEC)...Read More
Ethereum’s co-founder used the recent market crash as an opportunity to lash out against the Bitcoin stock-to-flow model, which has deviated severely from its price predictions. The S2F creator responded quickly and didn’t hold back. Buterin and ETH Against the S2F Developed and published a few years ago by a popular crypto analyst going by...Read More
After a record-breaking string of declines, the former BitMEX CEO – Arthur Hayes – has given yet another dire outlook on where crypto is headed. In the latest Twitter thread, Hayes said that the respite might be brief, and forced selling in the short-term may drag the entire market down. The former exec predicted the...Read More
The bloodbath that brought BTC down from $21,000 to below $18,000 during the weekend has resulted in the largest USD-denominated realized loss for bitcoin investors. Interestingly, long-term holders were among the most active sellers, some of which realized losses in excess of 70%. Largest USD-Denominated Realized Loss Streak After registering the longest negative streak in...Read More
Scott Quinn Berkett – a 25-year-old resident of Beverly Hills, Los Angeles – reportedly pleaded guilty to transferring $13,000 worth of bitcoin to a hitman on the Dark Web. The latter was supposed to kill Berkett’s ex-girlfriend. Bitcoin on the Crime Scene According to coverage by CBS News, the California man and his unidentified partner...Read More
The dramatic collapse in UST brought tremendous selling pressure, catching many off-guard. But the subsequent negative macroeconomic conditions have adversely affected the cryptocurrency market as a whole, with institutional demand plunging to the lowest levels. Grayscale Bitcoin Trust (GBTC) Hits Lowest Point The Grayscale Bitcoin Trust, an investment vehicle provided by asset manager Grayscale Investments,...Read More
Mike Novogratz, a prominent Bitcoin bull and the CEO of digital asset investment firm Galaxy Digital, noted that cryptocurrencies are here to stay even though it will take a while for the market to turn bullish. Novogratz: Bitcoin Isn’t Going Away The billionaire told Bloomberg in an interview that assets, including crypto and stocks, that...Read More
Despite the recent pullback of the cryptocurrency market, the British cryptographer and an outspoken supporter of bitcoin – Adam Back – thinks the asset could tap $100,000 by the end of 2022. He also admitted that he kept buying amounts of BTC and HODL for the long term. No Matter the Crash, Back Remains Bullish...Read More
Over the past seven days, crypto markets have plunged a whopping 24%, shedding $320 billion from total market capitalization. That figure, which encompasses all cryptocurrencies, fell to an 18-month low beneath $900 billion this week, marking a 70% drawdown since November. The massive sell-off has paused a little today as markets recaptured that $900 billion...Read More
Faustin-Archange Touadéra – President of the Central African Republic (CAR) – urged people to understand bitcoin’s “disruptive power to bring long-term prosperity.” In his view, the primary cryptocurrency could serve as a lifeboat during the turbulent economic times nowadays. ‘Understanding Bitcoin is Crucial’ In April this year, the Central African Republic made the headlines becoming...Read More
Michael Saylor – CEO and founder of the largest corporate BTC holder MicroStrategy – reiterated his bullish stance on the company’s bitcoin strategy and, once again, shook off the rumor regarding a margin call hitting some of the firm’s holdings. Saylor restated his commitment to continue purchasing bitcoin as well. On the Bitcoin Strategy Despite...Read More
MicroStrategy refuted rumors that it had received a margin call against its $205-million bitcoin-backed loan from Silvergate Capital, although BTC dipped below the company’s liquidation price of $21,000. The NASDAQ-listed business intelligence giant started accumulating massive portions of bitcoin nearly two years ago. Since then, it has bought nearly 130,000 BTC. Some purchases came from...Read More
The Founder of SkyBridge Capital – Anthony Scaramucci – advised investors to remain disciplined amidst the ongoing crypto havoc. He compared the months-long selloff to the Internet bubble burst in 2000 while noting that some crypto gems will survive the winter as Amazon did twenty-two years ago. “Stay Disciplined” As the bloodbath deepened, bitcoin slumped...Read More
New York City Mayor Eric Adams has spoken against the bill that seeks to impose a two-year moratorium on bitcoin mining plants, which are not 100% run by renewal energy in the New York state. He thinks the moratorium can impede the growth of the bitcoin mining industry in the United States. The controversial bill...Read More
It’s been a rough start to the week for crypto investors. The total market cap slumped below $1 trillion for the first time in 18 months. Bitcoin spearheaded the crash, falling to $21,000 on Monday, and Ether (ETH) dropped to as low as $1,093. The sell-off worsened after news surfaced that the U.S. Federal Reserve...Read More
The first nation to legalize BTC inside its borders sits on a substantial unrealized loss from its bitcoin stack. However, its Finance Minister, Alejandro Zelaya, reassured that the most recent market crash will not hurt the country’s fiscal health. No Worries in El Salvador The small Central American country made history approximately a year ago...Read More
No bottom is in sight yet, as bitcoin slumped below $25,000 for the first time since December 2020. Expectedly, the altcoins keep suffering more with several double-digit losers. As such, the liquidations are up to half a billion again. A lot can change in the cryptocurrency markets in a week, and it did so in...Read More
The adverse price developments in the cryptocurrency space only intensified in the past 24 hours, with new weekly, monthly, and even yearly lows registered from many altcoins. With double-digit drops evident across many charts, it’s no wonder that the daily liquidations have shot up above $500 million. It’s safe to say that the crypto market...Read More
The world’s leading provider of news, broadcasts, and videos – Bloomberg Media Distribution – expanded its coverage of cryptocurrency data on the Bloomberg Terminal. The company will track the performance and latest updates of the top 50 digital assets, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and more. From 10 to 50...Read More
Jan Van Eck, CEO of global investment manager VanEck, believes the value of one bitcoin could skyrocket to as high as $250,000, but the quarter of a million dollars prediction could take decades to happen. Bitcoin at $250k Could Take a Decade The VanEck CEO made the bullish price prediction in a recent interview with...Read More
Sen. Cynthia Lummis (R-WY) has revealed a sweeping U.S. crypto legalization and regulation bill. Her lead advisor for the initiative, MicroStrategy CEO Michael Saylor, believes bitcoin is a commodity, not a security. The U.S. crypto bill seems to have the support among crypto industry insiders of both Bitcoin maximalists and the Ethereum / DeFi /...Read More
The world’s largest digital asset manager – Grayscale – hired Donald B. Verrilli as additional legal counsel. With his help, the firm aims to receive the SEC’s approval and finally convert its Bitcoin trust into an exchange-traded fund. Grayscale Reinforces Bitcoin ETF Team In a recent tweet, Grayscale raised hopes that Verrilli could be a...Read More
3iQ Digital Asset Management has launched Bitcoin and Ether Feeder ETFs in Australia. Listed on Cboe Australia on June 6, these funds will invest in Canadian-domiciled 3iQ CoinShares Bitcoin ETF and 3iQ CoinShares Ether ETF. Exposure to BTC, ETH Investments These ETF products are aimed at providing Australian investors with an opportunity to leverage potential...Read More
Mash, a Lightning network startup, has announced raising $6 million in seed funding. Expanding its team across different fields such as engineering, marketing, sales, and business development also remains an area of focus in addition to executing its go-to-market strategy. Seed Round According to the official blog post, the investment round was co-led by Castle...Read More
