The Bank of Canada published a report on Wednesday outlining Canadian crypto ownership trends last year. Its Bitcoin Omnibus Survey found that Bitcoin (BTC) ownership across the country declined from 13% to 10% of the population in 2022. The report noted that the ownership decline occurred on the back of Bitcoin’s massive price decline of...Read More
Altcoins are indeed making waves in the crypto market, and the recent activities of Litecoin (LTC), Ripple-affiliated XRP, and Solana (SOL) are clear indicators of this trend. In the past 24 hours, all three have experienced notable gains, signaling a potential shift in the crypto landscape. As Bitcoin’s (BTC) dominance begins to waver, the spotlight...Read More
Grayscale wrote a letter to the U.S. Securities and Exchange Commission (SEC) on Thursday calling for the agency to simultaneously approve any qualifying Bitcoin spot ETF applications, so as to not “pick winners and losers.” However, the firm also argued that Coinbase shouldn’t qualify as a surveillance partner to launch such a product, under the...Read More
Crypto investor and Galaxy Digital CEO Mike Novogratz told followers on Wednesday to “Buy BTC” in response to the United States government’s rapidly growing interest expense on its sovereign debt. To some analysts, the trend suggests that the Federal Reserve will be forced to lower its benchmark interest rate again if the Federal government can...Read More
Twitter co-founder Jack Dorsey pressed Coinbase CEO Brian Armstrong on Wednesday over his alleged refusal to acknowledge the power of Bitcoin’s lightning network – a layer-2 scaling solution designed to make BTC easier to spend. His question sparked an online debate about the benefits and limitations of lightning in the payments realm, compared to other...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
In a significant development in the US crypto landscape, senior Democrats in the House of Representatives have voiced their opposition to a comprehensive overhaul of financial laws pertaining to crypto assets. However, they have also indicated that a deal on the regulation of stablecoins could be within reach. The Proposed Bill Failed To Meet Expectations ...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
The latest weekly publication of Bitfinex revealed that bitcoin (BTC) balances on centralized exchanges have retraced to levels last seen in January/February 2018. Bitfinex found that the balances have plunged by 32% from the 3.1 million BTC peak in March 2020 to 2.1 million now. At writing time, only 11% of BTC’ circulating supply was...Read More
Digital asset investment products have returned to negative territory following four weeks of solid inflows. According to asset manager CoinShares, there was a total outflow of $6.5 million from crypto funds last week, reversing the trend of inflows. However, the outflow is minor compared to the prior four weeks, which totaled $742 million of inflows....Read More
After a series of days stuck under the $30K line, Bitcoin has finally shown a clear trend, though it’s not the one bulls were hoping for. Bitcoin slipped below its monthly support of $29K, and it didn’t stop there, continuing to slide down to the $28.8K mark. This severe bearish swing led to a massive...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
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
Bonds issued by El Salvador, the first country in the world to establish Bitcoin (BTC) as legal tender, are up 60% in value this year – rivaling Bitcoin’s 80% gains. The sudden demand for the country’s national debt represents a massive sentiment shift around its financial position. Yields for El Salvador’s 10-year debt ran as...Read More
With a swath of Bitcoin spot ETF applications knocking at the regulators’ doorsteps, it’s only a matter of time before the U.S. Securities and Exchange Commission (SEC) is forced to issue a decision on whether or not to approve them. Estimates show that the agency may approve the first application as early as August. First...Read More
The “BITCOIN” cryptocurrency has skyrocketed by over 300% in value over the past week – gains the world’s largest cryptocurrency could only hope to gain through a massive influx of investor capital. That said, a closer look shows that’s not exactly what happened. “BITCOIN” is actually the ticker symbol for a relatively new meme token,...Read More
Bitcoin is currently attempting to be the star of the recovery show. In recent hours, Bitcoin has once again caught the attention of investors and traders as it sparked a renewed surge toward the $30,000 mark from a critical support level that it touched yesterday. This surge has left many questioning whether it is the...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
In a recent analysis, renowned crypto market technical analyst Ali Martinez has drawn attention to Bitcoin’s positive signals, indicating a potential uptrend for the world’s leading cryptocurrency. Martinez’s focus on the TD Sequential, a widely respected technical indicator, revealed a crucial buy signal on Bitcoin’s 12-hour chart. This buy signal coincided with the formation of...Read More
Once a fervent and laser-eyed Bitcoin (BTC) bull, Spencer Schiff – son of crypto critic and gold bug Peter Schiff – is now in agreement with his father that Bitcoin’s price is headed to zero. His reasoning, however, greatly differs from his father’s, who he believes is “completely wrong about the economy.” No Longer A...Read More
The choppy market has caused severe headwinds for Bitcoin miners as the hash rate reaches new record highs. The rise comes ahead of the much anticipated halving event slated for next spring that is expected to catalyze the largest crypto asset’s price action. Recent data suggested that Bitcoin’s hash rate has increased by nearly 661%...Read More
Telegram founder and CEO Pavel Durov disclosed that he holds bitcoin, the largest crypto by market capitalization, and Toncoin (TON), which is independent from Telegram. The CEO also bought a quarter of new Telegram bonds issued by the company. Telegram Issues $270 Million Bonds In a post on his official Telegram channel on Tuesday (July...Read More
ARK Invest CEO Cathie Wood said on Tuesday that she and her fund are now more confident in their “bull case” for Bitcoin (BTC): $1.5 million by 2030. The investment manager’s boost of confidence stems from Bitcoin’s positive response to the United States regional banking crisis in March. The Bear, Base, and Bull Case Ark...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
Crypto exchange Binance announced it has completed the integration of Bitcoin on the Lightning Network (LN). The move will enable Binance users to leverage the scaling solution for Bitcoin deposits and withdrawals. When depositing BTC, users will have the additional option of “BTC-Lightning” alongside the standard choices of Bitcoin, BEP20, SegWit, and others. With the...Read More
Investment products offering crypto exposure have surged in popularity since last month, attracting net inflows of $137 million over the last week alone. Meanwhile, trading volumes for such products have soared beyond their yearly average, totalling $2.3 billion last week. Investors Return to Bitcoin Per Coinshares’ weekly report, inflows into digital asset investment products totalled...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
