Bitcoin keeps touching new levels of adoption in the real world, with traditional finance (TradFi) firms embracing the digital asset at a remarkable pace. The significant investment in spot Bitcoin exchange-traded funds (ETFs) signifies growing institutional interest in crypto assets. Last quarter, a staggering number of U.S. banks, investment managers, hedge funds, and professional firms...Read More
Bitcoin’s price performances for the past ten years or so have been dominated by bear and bull cycles. In general, the BTC halving is regarded as the catalyst for the start of the bull market, while the last two years ahead of each such event are dictated by the bears. Current Cycle However, this hasn’t...Read More
Inflows for spot Bitcoin ETFs in the United States soared to $303 million on May 15 amid a big jump in BTC prices. It is the highest inflow since May 3 as institutional inventors pivoted back to bullish in the wake of the US Consumer Price Index (CPI) data on May 15 which met expectations....Read More
While the crypto market is far from its March peak, analysts say the fundamentals of the Bitcoin network remain strong. According to the latest Bitfinex Alpha report, Bitcoin’s foundational strength is underscored by key factors like the steadfastness of long-term holders and the plunge in mining difficulty. These factors indicate that the network is positioned...Read More
On Monday, May 13, Hong Kong’s spot Bitcoin and Ethereum ETFs saw a total outflow of $39.3 million, according to preliminary data from Farside Investors. It is the highest total outflow for the institutional investment products since they were launched on the Hong Kong Stock Exchange on May 2. Spot Bitcoin funds from issuers Bosera,...Read More
The high-tech industry continues to make active inroads into the blockchain industry, proposing and building out new solutions that make Web3’s products better and more usable by mainstream folks as well as sophisticated industry participants. 1. Block CEO Jack Dorsey – Bitcoin Bull Back in 2021 at “The B-Word” conference by Crypto Council for Innovation,...Read More
The Bitcoin network’s mining difficulty has experienced its largest negative adjustment since December 2022, when the bear market was in full gear. According to data from the real-time Bitcoin dashboard Bitbo, the mining difficulty fell 5.7% to 83.1 trillion on Thursday at block height 842,688. Bitcoin Mining Difficulty Negatively Adjusts Bitcoin’s mining difficulty measures how...Read More
While the effects of the fourth halving slowly set in, Bitcoin miners appear to be selling less and holding onto more BTC after the recent block reward reduction. In fact, Bitcoin is currently seeing the longest-ever miner consolidation and accumulation period since it hit $16K. BTC Miner Accumulation Continues According to the latest analysis by...Read More
The Bitcoin network has achieved a new milestone: one billion processed transactions, 15 years, four months, and four days after its genesis block was mined. According to data on Clark Moody’s Bitcoin dashboard, the one billionth transaction was mined into block 842,241 on May 5 at 9:34 pm UTC. Bitcoin Process One Billion Transactions Bitcoin’s...Read More
Grammy award-winning rapper Eminem recently cut an ad for Crypto.com to advertise blockchain to NBA fans. Here are 10 other celebrity endorsements that prove cryptocurrency adoption is accelerating. But real quick first— here’s “The Real Slim Shady” singer’s X post with the Crypto.com advertisement: You know what it’s always been. #FFTB #Ad @cryptocom pic.twitter.com/XZ3Qf7TkkR —...Read More
Over time, the United States government, through its regulatory agencies, has filed cases against several crypto firms, demanding compliance for their products and services. While the list is extensive, some cases have stood out, like lawsuits against decentralized protocols like Uniswap, crypto mixing platforms like Tornado Cash, and big firms like Binance and Coinbase. The...Read More
CryptoQuant analysts have found that Bitcoin miners have increased their selling activity in the last month amid slow demand growth for BTC. According to the latest CryptoQuant weekly report, the decrease in BTC demand is evident in low Bitcoin whale demand, fewer purchases from spot exchange-traded funds in the United States, and the Coinbase premium...Read More
Days after suffering devastating losses that dragged its price to $56,500, bitcoin rebounded on Thursday and during the early hours of Friday. This coincided with a slowdown in outflows from spot bitcoin exchange-traded funds (ETFs) in the US compared to the previous day’s record outflows. According to the latest data compiled by SoSoValue, spot bitcoin...Read More
The Bitcoin Fear and Greed Index shows crypto investor sentiment has turned neutral following BTC’s slump below $57,000. According to data from Alternative.me, the fear and greed index sits at 54 for the first time in three months, signaling that crypto investors are neither fearful nor greedy amid the current market conditions. Investors Harbor Neutral...Read More
Tether (USDT) has long reigned as the largest stablecoin in the cryptocurrency market, with its widespread adoption and liquidity making it a staple for traders and investors. However, recent reports suggest that its dominance is facing challenges. Despite holding onto the top spot, Tether is gradually losing its market share, largely due to intense competition....Read More
Hong Kong is open for business as its bourse now includes spot Bitcoin and the world’s first spot Ethereum ETFs, which went live at 09.30 local time. According to the HKEX website, Asia’s first spot crypto asset ETFs are “trading now” with 14 new funds listed. Three ETF issuers have listed products – China Asset...Read More
The US economic calendar is brimming with activity this week, with the Federal Reserve reacting to rising PCE, PPI, and CPI inflation data. Moreover, the central bank’s decision and upcoming economic data releases will provide insights into the inflation battle and the broader US economic trajectory, shaping market sentiment for the months ahead. Additionally, a...Read More
Bitcoin’s fourth halving is already in the history books, and the block rewards have been reduced to 3.125 BTC. Although historically the event has been named the catalyst of a new bull cycle, there’s a lot of controversy now, with many claiming that the effects of this halving are declining. Aside from that, though, there...Read More
As the classic weather forecast goes in the Northern Hemisphere, April showers bring May flowers. Will it hold up for crypto exchange markets in Q2 of 2024 after a sharp correction this April? And if the market does recover in May, whose flowers will bloom brightest? Bitcoin price‘s four-year bull run seems imminent, but will...Read More
Bitcoin completed its fourth halving on April 20th, with block rewards falling from 6.25 BTC to 3.125 BTC. Historically, halvings have been related to growing bitcoin prices and eventually marked the beginning of new cycles followed by massive surges in value. The latest halving is no different, even as BTC reached an all-time high beyond...Read More
The latest inflow on April 22 was $19.7 million which means that BlackRock is now in the top ten of longest daily inflow streaks for all US exchange-traded funds. The 70-day milestone ties BlackRock’s IBIT fund with JETS, an ETF that combines shares in an index of airline industry companies. It has also achieved 70...Read More
Following the successful completion of the long-awaited fourth Bitcoin halving on April 20, miners’ struggle for profitability has begun. The event reduced block rewards from 6.25 BTC to 3.125 BTC, slashing the amount of assets produced daily. This has greatly affected miners’ profitability as they would rely more on transaction fees and higher BTC prices...Read More
Bitcoin’s fourth halving, a highly anticipated event occurring every four years in the cryptocurrency realm, has finally occurred. This event, reducing the Bitcoin block reward from 6.25 BTC to 3.125 BTC, marks a crucial moment in the industry. As a result, the daily issuance of Bitcoin has been slashed in half, now standing at around...Read More
Preliminary data from Farside Investors revealed that four of the new spot Bitcoin ETFs had another day of zero flows on April 16. These were Bitwise (BITB), Invesco Galaxy (BTCO), WisdomTree (BTCW), and Hashdex (DEFI). Additionally, Grayscale’s GBTC and ARK 21Shares’ ARKB had outflows of $79.4 million and $12.9 million respectively. Nevertheless, Bloomberg ETF analyst...Read More
The week started on a strong note, with Bitcoin rising above $66,000, a 3.02% increase over the past day owing to Hong Kong’s ETF development. With spot cryptocurrency ETFs being all the roar, Hong Kong has joined the trend by granting approval for several spot Bitcoin and Ethereum ETFs on Monday. Hong Kong Welcomes Spot...Read More
The cryptocurrency market saw a massive correction in the past two days, starting with a red Friday and followed by a Saturday massacre. While the reasons are still debated, even though they seem to be external and not related to the industry itself, the fact is that the total market cap shed over $400 billion...Read More
Bitcoin is all set to undergo halving later this month. With less than 10 days away, the network has reached yet another crucial milestone. The latest stats compiled by CoinWarz revealed a record-breaking mining difficulty for Bitcoin, peaking at 86.39 trillion. Over the last week, it climbed by 3.92%, and within the last month, it...Read More
Grayscale Bitcoin Trust (GBTC) recorded its lowest net outflow of $17.5 million for the first time since its conversion to a spot Bitcoin exchange-traded fund (ETF) on Wednesday, according to Farside Investors data. This follows a statement by Grayscale Investments CEO Michael Sonnenshein that the company’s fund is close to a point of “equilibrium” regarding...Read More
Monday, April 8, saw an aggregate outflow of $224 million from the newly launched eleven spot Bitcoin ETFs, according to preliminary data from Farside Investors. This reverses four days of inflows, during which a total net of $570 million flowed into the institutional investment products. This week’s outflow was again exacerbated by Grayscale, which saw...Read More
With the fourth Bitcoin halving approximately 15 days away, miners are focused on increasing their profitability before their block rewards are significantly reduced. Although some Bitcoin mining companies have increased their selling activity, they still face challenges like lower transaction fees, increasing mining competition, and the need for higher computing power to produce the same...Read More
