There is an increasing narrative among crypto market analysts that the next bull market and cycle peak could come as soon as Bitcoin halving. This follows months of consolidation where BTC has failed several times to break above $30K, and volumes and volatility have fallen to record lows. On Aug. 10, market analyst “CrediBULL Crypto”...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
The summer period’s lackluster trading activity is evident as digital asset investment products recorded outflows of $107 million this week. The profit-taking has gathered tremendous pace lately, with weekly trading volumes in investment products 36% below the year-to-date average. The wider on-exchange market has experienced a more significant decline, with volumes down 62% relative to...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
Responding to a Dogecoin influencer warning about scam coins, Elon Musk said Friday that X will never launch a token. And we never will — Elon Musk (@elonmusk) August 5, 2023 While that may be so, make no mistake about it — crypto and finance feature heavily in Musk’s plans for X.com. He recently teased...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
The first half of 2023 has brought an unexpected twist for the crypto market, which has always been a favourite target for cybercriminals. However, as the number of crypto hacks surged in an alarming fashion, a surprising trend began to emerge from hackers as they now started returning the stolen funds. This event surged exponentially...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
The Ordinals protocol team announced the launch of a non-profit organization, dubbed ‘Open Ordinals Institute,’ to fund its open-source development. The Open Ordinals Institute is a registered 501(c)(3) California-based public charity that will collect donations in Bitcoin to back the protocol’s development by funding its core group of developers. The focus will also be on...Read More
Bloomberg ETF analysts have boosted their approval odds for a U.S. Bitcoin (BTC) spot ETF from 50% to 65%, in light of “recent events and new information.” The analysts believe it is most likely that the Securities and Exchange Commission (SEC) will simultaneously approve all recent applications for the product after Grayscale defeats the agency...Read More
Coinbase CEO Brian Armstrong revealed that the crypto exchange is exploring the “best” way to integrate the Lightning Network after being called out for not adding support for the layer-2 scaling solution, which enables faster and cheaper BTC transactions than the Bitcoin base network. The comment comes a month after Binance added LN capability for...Read More
After being trapped between $31,500 and $29,500 for more than a month now, Bitcoin broke below the price range due to a lack of positive stimuli. Higher timeframe on-chain metrics, however, continue to signal a bull market. In fact, the latest edition of Bitfinex Alpha said that we could still be in the early part...Read More
Bitcoin (BTC) whale MicroStrategy announced on Tuesday that it has gobbled up another 420 BTC since its last announcement in June. This brings the company’s total holdings up to 152,800 BTC worth $4.46 billion. According to MicroStrategy’s Q2 earnings report, the firm’s 12,800 BTC acquired since Q1 was acquired for $28,233 per coin – below...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 month-end closing is on the horizon! A fair amount of volatility was expected to kick in. But the current trade setup indicates the price may remain largely stagnant not only until the close but also for the next few weeks of August. Now that the price shows signs of a bullish breakout, the possibility...Read More
Robert Kiyosaki, an American businessman and author of the best-selling book Rich Dad, Poor Dad, believes the United States is broke as the country’s debt keeps increasing, countering claims that the world’s largest economy is strong. In a recent tweet, Kiyosaki called the media agency Wall Street Journal (WSJ) “numb nuts” because it failed to...Read More
In spite of the game of snakes and ladders that the crypto market has been playing for the past two years, Mike Novogratz feels that the troubles faced by the industry are coming to an end due to recent developments. In an interview conducted at the Galaxy offices, Novogratz shared his thoughts on BlackRock’s spot...Read More
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
