Europe saw the launch of the first spot Bitcoin ETF on Tuesday, but it turned out to be a sell-the-news moment since the cryptocurrency’s price plummeted in the following days to multi-month lows. Interestingly, something similar happened back in 2021 after the launch of the futures Bitcoin ETFs in the States, leading to speculations on...Read More
Bitcoin is currently undergoing a period of record low volatility. However, the asset appears to be a “challenging multi-contact point trendline” that can be traced to its lowest point in 2023. This could offer insights into the future direction of the leading crypto-asset, according to renowned veteran trader Peter Brandt, who said the largest cryptocurrency...Read More
Speaking to CNBC on Aug. 16, Fundstrat analyst Tom Lee said that if the spot BTC ETF gets approved, the demand for Bitcoin will be greater than the supply. He added that the firm’s crypto strategists predicted a clearing price of $150,000 to $180,000. The bold prediction is before the end of next year and...Read More
Bitcoin has tapped a new all-time high against the Argentine peso, shortly after a Bitcoin-supportive presidential candidate came first in the nation’s primary elections. The asset now trades for $10,258,244.60 ARS, up 21% over the past 5 days. Pressure on the Peso Compared to the US dollar, Bitcoin has performed remarkably well against the peso...Read More
On-chain data analyzed by cryptocurrency exchange Bitfinex shows that bitcoin (BTC) miners have entered an accumulation phase in preparation for the upcoming halving event scheduled for April 2024. According to the latest edition of the Bitfinex Alpha report, the miner reserve metric indicates a significant accumulation trend from May 27, 2023, which has increased since bitcoin’s recent...Read More
Javier Milei – a 52-year-old Argentine politician, businessman, and economist – collected the most votes in the country’s primary presidential elections. The leader of the political coalition La Libertad Avanza (Freedom Advances) is a keen advocate of bitcoin and a fierce opponent of the central bank. He has also gained popularity due to a crypto...Read More
The numbers for July’s Consumer Price Index are here. The market has failed to react as Bitcoin’s price recorded an ever-so-slight uptick in volatility before calming back down almost immediately. The Bureau of Labor Statistics of the United States has just revealed the rate of July’s Consumer Price Index. To those unaware, it’s the metric...Read More
Ki Young Ju – CEO of crypto data analysis platform CryptoQuant – revealed that a bitcoin miner who produced 150 BTC in 2009 (worth a mere $0.13 back then) sold his stash for an astonishing $6.5 million last year. The total profit of the investment equals a whopping 5,000,000,000%. CryptoQuant’s boss took it to Twitter...Read More
Bitcoin derivatives are all about predicting future prices, and this generally needs prices to actually move in one direction or the other. The recent market lethargy and weeks of stagnation have led to decreased activity on derivatives markers, according to Glassnode. “Bitcoin prices are infamously volatile, however the market is currently experiencing an extreme volatility...Read More
Esther Freeman – a 70-year-old Israeli resident who turned a $3,000 BTC investment into over $320,000 in 2021 – has terminated the legal battle with Bank Hapoalim. The latter was unwilling to accept her crypto profits, casting doubts on the source of the funds she used to hop on the Bitcoin bandwagon. Her investment is...Read More
The cryptocurrency data aggregator CoinGecko added a new section on its website showing the top 48 crypto assets deemed securities by the US SEC. The combined market capitalization of those digital currencies is currently over $91 billion, representing 7.5% of the whole $1.21 billion cap. CoinGecko introduced a new index that tracks the performance of some...Read More
According to data from Switzerland-based investment adviser 21e6 Capital AG, around 13% of crypto hedge funds have shut down so far this year. The reasons for the closures were weak performance and difficulties in accessing banking services. Furthermore, crypto funds generated, on average, around 15% returns in the first half of 2023. They have been...Read More
The payment technology firm Block (formerly known as Square) revealed that its bitcoin revenue for the second quarter was approximately 34% more than the figure reported in Q2, 2022. The company, spearheaded by Twitter’s former CEO Jack Dorsey, is a main player on the crypto scene, owning over 8,000 BTC. Q2’s Solid Numbers Block revealed that its...Read More
Bitcoin miners have had a rocky start in 2023 after being battered by a severe market downturn the previous year. But as prices recovered over the last several months, they have been at significant capacity, according to Bernstein. The brokerage firm’s latest report weighs in on how large miners are poised to reap substantial benefits...Read More
Bitcoin price has cautiously ratcheted upward since Jan. A rising trend channel from $16,600 to $30,000 almost doubled the spot price of BTC in H1. The price changed in three phases, with blistering rallies that happened in January, March, and June. Here’s what large language model chatbot Google Bard has to say about the best...Read More
The approaching presidential vote in the United States in 2024 promises to be intriguing and contested as more and more well-known candidates announce their participation in the election. Both the Democratic and the Republican parties have amassed serious figures who put the economic welfare of Americans, the improvement of the domestic health sector, the US...Read More
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
