Bitcoin exchange reserves are a good way to gauge investor sentiment in the market. It can show when investors are ready to sell, meaning that they believe the asset has hit an overvalued point. Likewise, it can show when investors are holding on to their bags and expecting the price of the digital asset to rally. The latter has been the norm going on four months now. Since August, bitcoin exchange reserves have been plummeting with no signs of stopping. This has shown investor sentiment to be in the positive…
Day: November 12, 2021
SEC Rejects Vaneck Bitcoin Spot Market ETF Over Price Manipulation Concerns – Bitcoin News
On Friday, November 12, the U.S. Securities and Exchange Commission (SEC) rejected Vaneck’s bitcoin spot market exchange-traded fund (ETF). The U.S. regulator noted that the denial was due to the lack of prevention toward “fraudulent and manipulative acts and practices.” SEC Turns Down Spot Market ETF – US Regulator Believes There Should be More Manipulation Protection for Investors Following the approval of a few bitcoin ETFs that leverage future markets, the SEC has rejected Vaneck’s bitcoin spot market ETF on Friday. So far, the U.S. regulator has not approved any…
Off the Charts: Supply Chain Angst
The following chart doesn’t answer who is correct. But it does put some illustration onto the supply chain problem. This is the deep sea freight cost component within the Bureau of Labor Statistics’ producer price index for the past two years, drawn from the Federal Reserve Bank of St. Louis’s FRED database. Source
Tether, Bitcoin and Chinese Commercial Paper at Scale
For critics of Tether, the new economy of digital assets is based on the world’s oldest profession: real estate speculation. Crypto markets took a dip Thursday just around the time it was reported that China’s Evergrande Group was on the verge of defaulting on a bond payment. While the embattled housing giant ultimately made its scheduled payment of $148 million, questions persist about the long-term prospects for it and other real estate developers in China. Bitcoin, meanwhile, remained above all-time highs by about 5.5%. This article is excerpted from The…
Traders look to ‘buy the dip’ after spot ETF rejection sends Bitcoin price to $62K
Bears swooped in to seize the upper hand on Nov. 12 after news that the United States Securities and Exchange Commission (SEC) had rejected the VanEck spot Bitcoin (BTC) exchange-traded fund (ETF) application made ripples through the crypto sphere and deflated the bullish momentum that had been building throughout the week. While many investors had high hopes that the passage of a spot BTC ETF would send the price of Bitcoin to the coveted $100,000 price level, its denial was expected by others, including Bloomberg senior ETF analyst Eric Balchunas,…
The Politics of Bitcoin
This episode is sponsored by NYDIG. Download this episode On today’s episode of “The Breakdown,” NLW looks at how bitcoin’s place in the political dialogue in the United States has changed dramatically over the years. He argues 2021 will be remembered as the year politicians started taking the industry seriously. The episode features a thread from Ohio U.S. Senate candidate Morgan Harper: https://twitter.com/mh4oh/status/1458064822772375565 See also: ‘Probably Nothing’: Why People Still Hate Crypto “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research…
How Crypto Becomes Money
By soaring 4.4% to new record highs Wednesday after the release of a report that showed U.S. inflation hit its highest level in 31 years and then losing all of that in the day, bitcoin played straight into the hands of mainstream economists who pooh-pooh its potential as a currency. Such volatile moves, they will argue, make it impossible for cryptocurrencies to serve what traditional economics describes as the three functions of money: i) a medium of exchange, ii) a store of value, and iii) a unit of account. A…
Shiba INU Update | What is happening | Cryptocurrency
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io #Shiba #Shibarmy #Cryptocurrency Shiba INU is not going anywhere recently what is the reason what is happening, what can we expect in Shiba INU? Let’s Discuss. Exchanges I Use: Binance – Huobi Global – BUYUCOIN – Telegram Channel Link – Other Channel Watch The Machines – Music: For Business Enquiry – pooja@kharayat.com or telegram – Follow me on Instagram – kharayat.mayank10 Also don’t forget to Subscribe to the Channel ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version
ENS airdrops token, and SEC’s Crenshaw speaks on DeFi, Nov. 5–12
Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter. Ethereum Name Service announced a retroactive token airdrop this week to a fanfare of crypto enthusiasts. If you happen to own a .eth domain, read on to discover how you can claim your eligible tokens. What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week, subscribe below. “The DAO space has matured,” says ENS’ director of operations Domain protocol Ethereum Name Service distributed its native ENS governance…
After London Fork, ETH’s Supply Change Drops To Almost Zero
On-chain data shows Ethereum supply is barely changing anymore following the London hard fork. This means ETH is becoming a scarce asset now. Following London Fork, Ethereum Supply Rate Of Change Drops To Nearly Zero As pointed out by a CryptoQuant post, ETH’s supply curve has nearly flattened now as rate of change drops to almost zero. This has made the asset scarce. The Ethereum supply indicator tells us about the total amount of ETH that’s currently in circulation. As miners receive a block reward (in ETH) for mining blocks,…