Larry Fink – CEO of $10 trillion investment management giant BlackRock – says crypto is a “flight to safety” asset class, comparable it to the likes of gold and US Treasuries. In an interview with Fox Business, Fink dismissed the idea that Bitcoin (BTC)’s rally on Monday was merely due to a false rumor about...Read More
On-chain data shows that a wealthy crypto investor lost $49,000 on a bad trade following false reports about BlackRock receiving approval on its Bitcoin ETF application. As noted by analysts from Lookonchain on Monday, an anonymous whale traded $613,201 in USDC for 20.5 Wrapped Bitcoin (WBTC) using 1Inch shortly after the initial report dropped. At...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
After experiencing a massive price plunge in the crypto industry during the last week, The market leader, Bitcoin price, has displayed a bullish move as the star crypto has gained 3.62% within the last day. BTC is currently hovering close to its crucial resistance level of $28,000 and is expected to surpass it soon. BlackRock’s...Read More
Bitcoin has just set a new record for the time spent in a mid-cycle consolidation phase between market cycle peaks. It has been in this phase for eight months, according to technical analyst ‘CryptoCon,’ who added that this cycle is still playing out the same as previous ones. The analyst has used Fibonacci retracement levels...Read More
As we reach mid-October, Bitcoin’s price has yet to showcase its anticipated ‘Uptober’ potential, having only registered a $3.5K increase since September. Furthermore, Bitcoin’s surge is currently encountering short-term selling pressure, plunging the bullish hope of reaching a $30K milestone. Consequently, the upcoming week may witness continued low volatility as buyer confidence in Bitcoin declines....Read More
Bitcoin’s Layer 2 Lightning Network has witnessed a 1,212% growth in just two years. In August 2023, the network recorded approximately 6.6 million routed transactions, a substantial increase compared to the 503,000 transactions observed in August 2021, according to River’s Bitcoin-only exchange data. Surprising Growth Amidst Market Challenges River’s research analyst, Sam Wouters, shed light...Read More
In a crucial moment, the Federal Open Market Committee (FOMC) has signaled a steadfast approach towards its ‘restrictive’ monetary policy amidst an ongoing inflation surge. The minutes from the recent meeting showed a commitment to maintaining higher interest rates for “some time” until inflation slows down. Following this news, Bitcoin price dropped toward the low...Read More
On Oct. 10, the billionaire investor told CNBC that it was an extremely tough time to be an investor in risk assets amid escalating geopolitical tensions and America’s dire financial situation. The founder and chief investment officer of Tudor Investment said, “It’s a really challenging time to want to be an equity investor and in...Read More
Robert Linus – project lead at Bitcoin development group ZeroSync – has proposed a new system allowing developers to “compute anything on Bitcoin,” giving it functionality more similar to its neighboring crypto network Ethereum. Unlike other proposals to expand Bitcoin’s capabilities, “BitVM” does not require any changes to Bitcoin’s code that could cause the network...Read More
On-chain metrics show that Bitcoin is witnessing a significant shift in investor dynamics as the supply transition is changing in favor of long-term holders. According to the 75th edition of the Bitfinex Alpha Report, long-term Bitcoin holder supply has increased by more than one million bitcoin (BTC) since April 13, 2023, while short-term holder supply...Read More
TL;DR Deribit plans to launch linear options for XRP, SOL, and MATIC in January, targeting European markets and doubling down on derivatives trading. Despite its price fluctuations, XRP remains a popular choice for payments, with institutions like HSBC allowing its use. Following its legal victories against the US SEC, XRP might be on the verge...Read More
Digital Asset Investment products experienced a popularity surge in the past 14 days or so after about 10 weeks of severe drops. The reports indicate a rising trend in the digital asset fund inflows, with $78 million flowing in last week, a twofold surge from the preceding one, whose inflow was over $25 million. Europe...Read More
Despite an overall depressed market and now the specter of another war as tensions escalate in the Middle East, crypto experts and executives remain confident for the future. Many have been sharing their thoughts recently, and the Bitcoin halving narrative seems to be strengthening. There are various counters, but the general consensus is that this...Read More
The bitcoin price is struggling to rise above $28,000 after facing a couple of rejections at these levels. Due to this, altcoins currently appear to be uncertain about the impending trend, while a major shift is fast approaching. This could result in altcoins having an upper hand compared to Bitcoin. However, this certainly may not...Read More
In a recent post on the social platform X, Ross Ulbricht, the founder of the infamous darknet marketplace Silk Road, revealed that he has now spent an entire decade in prison. Ulbricht, currently serving a double life sentence, has been controversial since his arrest in 2013. Debate Erupts Over Ulbricht’s Punishment On Oct. 2, Ulbricht...Read More
Bitcoin has recently grabbed headlines with its fluctuating price of around $28K. While Bitcoin’s price is trying to accelerate buyer confidence, sellers are increasingly active near resistance levels. Consequently, the psychological $30K threshold seems unlikely to be reached by Bitcoin next week. This sentiment is further supported by various on-chain metrics, particularly the rising NVT...Read More
September of 2023 was a great month for Bitcoin mining companies. While the crypto world has been focused on the high-profile court cases regarding SBF and Celsius’ Mashinsky, Bitcoin miners have steadily been improving their hash rates, promising a greater future supply of the first cryptocurrency. News of record outputs from three Bitcoin mining firms...Read More
Although the most violent months of inflation increases in the developed world seem to be behind us, there are still countries where the rising costs of essential goods are threatening the local economies and people. Moreover, many economists are predicting higher inflation rates in the upcoming months coming back to the US and other nations,...Read More
A Q3 2023 on-chain report by crypto market intelligence firm IntoTheBlock revealed that addresses holding at least 0.1% of bitcoin’s (BTC) supply saw strong net inflows throughout the year’s third quarter. IntoTheBlock said these addresses recorded a single-day inflow of $600 million despite BTC plunging to $25,000, showing they are quietly bullish. Strong Net Inflows...Read More
On Oct. 6, Capriole Fund founder Charles Edwards observed the hodl waves for long-term Bitcoin holders. He noted that the recent massive growth in long-term Bitcoin holders is comparable only with 2016. The jump will have big consequences in 2024, he said adding that this was not seen in the last bull cycle, meaning that...Read More
BitMEX co-founder and macro-analyst Arthur Hayes recently predicted that Bitcoin’s price will soar between $750,000 and $1,000,000 per coin within roughly 3 years. His prediction, which is far more bullish than that of most analysts, rests on a macroeconomic thesis that all financial assets are due for an unprecedented boom. The Biggest Bull Market Ever...Read More
Bitcoin’s price has been holding above a crucial support level but has been trading sideways, waiting for a decisive move. The traditional markets have also witnessed important events, with some indicators hinting at potential market shifts. Recently, Santiment observed that Bitcoin crossed the $28,000 mark, a level it hasn’t seen since August 17th. They also...Read More
Ever since the beginning of the year 2023, the crypto markets have been experiencing a roller coaster ride, with the volatility varying on larger scales. The bitcoin price also underwent drastic changes, with the value marking higher highs and lows. Hence, it displays the growing dominance of bulls in the long term, despite the fact...Read More
Digital asset investment products witnessed inflows last week, with a total of $21 million coming in for the first time in 6 weeks. Interestingly, earlier in the week, it appeared that outflows would persist, but the tide turned towards the end of the week, particularly on Friday. CoinShares said this shift can be attributed to...Read More
TL;DR Bitcoin supply on exchanges is at a 5-year low of around 2.29 million BTC. The percentage of BTC supply on exchanges has decreased from 5.99% to 5.73% since September 1st, indicating decreased selling pressure. Whales have been accumulating BTC, controlling over 66% of the circulating supply, and the top 1% of Bitcoin addresses own...Read More
The social media account with the username @satoshi has recently broken its silence on X, marking its first post since 2018. This unexpected return has sparked curiosity and speculation within the cryptocurrency community, considering that “Satoshi Nakamoto” is the pseudonym attributed to the individual or group behind the creation of Bitcoin. Satoshi’s Account Resurfaces After...Read More
The latest edition of the weekly market report from cryptocurrency exchange Bitfinex revealed that bitcoin (BTC) reserves on centralized exchanges have plunged further to levels last seen in early January 2018. According to the Bitfinex Alpha Report, only 2.03 million BTC currently sits on exchanges. Bitfinex noticed a correlation between the slump in exchange reserves...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 prices have surged almost 4% on the day, topping $28,000 during the Monday morning Asian trading session. It is the highest price BTC has been at since August 17, however, there is heavy resistance at this level. Analyst ‘CrediBULL Crypto’ said, “Every higher timeframe impulse starts with a lower timeframe impulse.” He added that...Read More
