Day: October 7, 2021

Bitcoin ETF Approval Expected by Month’s End, Prominent Hedge Fund Puts More Weight Behind BTC – Bitcoin News

The price of bitcoin soared past the $55K handle on Wednesday for the first time in four months giving proponents hope the crypto bull run has been re-ignited. Speculators are predicting a bitcoin exchange-traded fund (ETF) will be approved soon and some believe bitcoin will outperform other crypto assets this month. ETF Analyst Eric Balchunas Discusses Bitcoin Exchange Traded Fund Approval Odds While 13 digital currencies outperformed bitcoin (BTC) this past week, BTC has been a top performer gathering 34.2% over the last seven days. On Wednesday, statistics indicate that…

CME Bitcoin derivative traders had ‘paper hands’ as BTC broke $55K — Report

Bitcoin (BTC) derivatives traders on the Chicago Mercantile Exchange (CME) missed out on incredible profits as BTC’s spot price smashed through $55,000 this week. Retail investors reduced their long exposure across the Bitcoin futures and options markets in late September, according to data shared by Ecoinometrics. The amount of open short positions also climbed, indicating that derivative traders anticipated Bitcoin’s price to drop, as shown in the chart below. CME Bitcoin derivatives — retail traders. Source: CFTC “Commitments of Traders” report, Ecoinometrics The data was taken on Sept. 28, when BTC…

NEW DOGECOIN UPDATE – DOGECOIN ANALYSIS – THIS CRYPTOCURRENCY WILL 10X

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One of Germany’s Oldest Banks Taps Fireblocks to Custody Customers’ Crypto — CoinDesk

“Supporting Bankhaus von der Heydt marks another key milestone in our mission to bridge the gap between digital asset banking and traditional finance,” said Michael Shaulov, CEO of Fireblocks. “As a pioneer in Germany for over 250 years, Bankhaus von der Heydt is seen as a trusted partner for innovative financial market solutions and we are proud to work alongside them to revolutionize the financial sector and work towards bringing every single banking service to the blockchain space, safely.” Source

ESPN, DraftKings Execs Join Soccer NFT Platform Sorare Following $680M Raise

European soccer non-fungible token (NFT) platform Sorare is continuing its growth with a slew of new hires. The company announced Thursday Ryan Spoon has been appointed as chief operating officer, bringing experience from BetMGM and ESPN. Michael Meltzer, who previously worked for sports betting site DraftKings, will be the company’s new VP of business development. David Byttow, a tech veteran who’s worked for Lyft, Snap and Postmates, has been hired as head of mobile. Kiana Davari has been brought on as Sorare’s head of people. She oversaw international talent as…

Bitcoin hints at $1T market cap retest after price hitting 4-month highs

Bitcoin (BTC) took a trip below $54,000 during Oct. 7 as traders waited to see how far a retracement of Wednesday’s $5,000 gains could go. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC flirts with $1-trillion asset support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD looking decidedly less confident Thursday, down 3% while taking aim at $53,000 — and its $1-trillion market capitalization — before recovering. The pair had hit local highs of $55,800 — its best since before the May miner rout — but it did not take…

Terra’s bullish case after Columbus-5 upgrade

Terra’s (LUNA) three-month rally saw its token rise by 674%, catapulting LUNA to the ranks of potential so-called “Ethereum killers.” LUNA has been on a tear lately because Terra’s most recent upgrade, Columbus-5, has effectively overhauled its tokenomics and brought significant changes to its technology. LUNA currently sits in fourth place in total value locked (TVL) among other blockchains, indicating its growing popularity for decentralized finance (DeFi) applications and also underpins its long-term viability. Terra is a layer-one blockchain developed by South Korean startup firm Terraform Labs and was released…

As Bitcoin Greatly Outperforms S&P 500, Bitcoin ATMs Gain in Popularity – Sponsored Bitcoin News

sponsored Since the beginning of the COVID-19 pandemic and after an initial dip, the stock market has performed exceptionally well for such an economically uncertain time. The SPDR S&P 500 electronically traded fund (ETF), which provides a good indicator of the stock market’s overall performance, has increased in value by 32% year-over-year (YoY) and 39% since the beginning of January 2020. While these returns are impressive, the performance of Bitcoin has surpassed expectations and greatly exceeded the performance of the S&P 500. Bitcoin’s value has drastically increased by 554% since…