January 10, 2022

Bitcoin Open Interest Continues To Rise, Short Squeeze Incoming?

January 10, 2022 boss

On-chain data shows Bitcoin open interest and estimated leverage ratio metrics have continued to rise recently. This could mean that a short squeeze may be coming soon. Bitcoin Open Interest Rises Despite Decline In Price As pointed out by an analyst in a CryptoQuant post, the BTC open interest has shown uptrend over the past month, despite the price of the crypto moving down. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts that are currently open in the market. When the value of…

Dez Bryant Taps Chainlink for ‘Dynamic’ Sports NFTs

January 10, 2022

“I was sitting back playing [NBA 2K], thinking, ‘Man, you can buy your player their own digital clothes, shoes, everything,” Bryant told CoinDesk in an interview. “I thought, what if athletes could offer something like this to their fans for them to own. We’ve been on a mission ever since.” Source

Digital Asset Funds Hit by Record Weekly Outflows of $207M

January 10, 2022

As crypto prices fall, fund investors remain bearish with record weekly outflows from digital asset investment products totaling $207 million in the seven days through Jan. 7. The spate of redemptions adds to the pressure on the market that began in mid-December, bringing the four-week outflow total to $465 million. Investment funds focused on bitcoin, the world’s largest cryptocurrency by market cap, saw outflows of $107 million during the seven-day period, according to a report published Monday by CoinShares. Bitcoin’s outflows were a “direct response” to the minutes of the…

Bitcoin’s Hashrate Slides 15% in 10 Days, Price and Difficulty Puts Pressure on BTC Miners – Mining Bitcoin News

January 10, 2022 boss

The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15% in ten days. Civil Unrest in Kazakhstan Leads to Hashrate Loss Speculation, Kazakhstan’s Bitcoin Miners Say Issues Did Not Affect Them This week the civil unrest in Kazakhstan caused a…

Billionaire Investor Bill Miller Now Has 50% of His Personal Wealth in Bitcoin

January 10, 2022

He bought some more bitcoin over time but then didn’t buy it for years, until last year when the price hit new highs and then started to fall sharply, and he thought it was a good time to buy the dip. Miller started buying again at $30,000, down from its high of just under $69,000, reasoning that there were a lot more people using it, as well as VCs and others investing in it. Source

Bitcoin Keeps Bleeding And Nears $40K, 4 Scenarios For Q1 2022

January 10, 2022 boss

Bitcoin starts yet another 2022 week in the red with a 2% loss in 24 hours and a 13.5% loss in 7 days. The benchmark crypto has been on a downtrend since the end of 2021 and could potentially dip further due to macroeconomic factors. Related Reading | TA: Bitcoin Key Indicators Suggest A Strengthening Case For More Downsides BTC trends to the downside in the 4-hour chart. Source: BTCUSD Tradingview At least, the above seems to correspond with the general sentiment in the market. The U.S. Federal Reserve is turning…

Polygon Stakes Claim to Fastest Zero-Knowledge Layer 2 With ‘Plonky2’ Launch

January 10, 2022

“We’ve had ZK-proofs for some time, but what we haven’t had is a way to prove Ethereum transactions, which are complex. It wasn’t possible to build a layer 2 that supports these transactions, which might have a flash loan, an arbitrage trade, a swap, all in one transaction. Proving them wasn’t possible until now,” he said. Source

Soldex, Solana-built Decentralized Exchange Partners with Larix Protocol

January 10, 2022 boss

The growth of the cryptocurrency industry has raised many concerns. Ranging from security and scalability, onboarding of newbies, trustless custody and order matching on exchanges, to overall user experience. To achieve mass adoption, there’s a need for third generational exchanges that would resolve these issues. Cryptocurrency and blockchain technology keeps evolving and changing to suit users’ needs. Decentralized exchanges are revolutionary and essential parts of this evolution, offering users privacy, security, and sovereignty over their crypto assets. However, any active DeFi user must have experienced the following drawbacks while using…

Bitfarms purchased more than $43M in Bitcoin to start the new year

January 10, 2022 boss

Canadian crypto mining firm Bitfarms has already bought 1,000 Bitcoin in 2022, making its total holdings of the crypto asset more than $177 million. In a Monday announcement, Bitfarms said it purchased 1,000 Bitcoin (BTC) for $43.2 million in the first week of January, roughly the same amount the company added to its treasury in both the third and fourth quarters of 2021. According to the mining firm, it currently holds more than 4,300 BTC as of Jan. 10, roughly $177 million at a price of $41,183. “Our guiding company…

The Hidden Bitcoin Trend Line That Could Save The Bull Run

January 10, 2022 boss

Today, Bitcoin price sank below $40,000 for the first time since September – a price more than 50% lower than what the market was anticipating this time of year. While the downside has been impossible to ignore, the latest sweep of lows has resulted in a touch of a trend line dating back to the bear market bottom that could keep the bull market intact a bit longer. Technical Analysis And Framing The Importance Of Trend Lines When it comes to technical analysis in Bitcoin, trend lines always matter. When…