Month: January 2022

Bitcoin Declines Toward Support at $44K-$45K as Analysts Await Price Bounce

Bitcoin (BTC) was declining toward the $44,000-$45,000 support zone at the time of writing and is roughly flat over the past 24 hours. Indicators suggest a possible price bounce, albeit limited toward the $55,000 resistance level. BTC has been stuck in a month-long trading range after a near 20% crash in early December discouraged some buyers. Since then, the relative strength index (RSI) signaled a few oversold readings, although price gains have been muted compared to prior signals. Katie Stockton, managing partner at Fairlead Strategies, a technical research firm, also…

Amid Electricity Shortages, Kosovo Government Places Ban On Crypto Mining

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Kosovo has banned crypto mining on Tuesday in an effort to reduce electricity use as the country grapples with its worst energy crisis in a decade as a result of electricity disruptions. Kosovo Bans Crypto Mining Operations Due to electricity shortages during the winter season, the government of Kosovo has decided to stop crypto mining in the country. According to a report by local newspaper Gazeta Express, Kosovo’s Minister of Economy, Artane Rizvanolli, has decided to ban crypto mining following a recommendation from the Technical Committee on Emergency Measures for…

Bitcoin Open Interest Reaches Dangerously High Values, Leverage Flush Coming?

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On-chain data shows Bitcoin open interest has reached dangerously high values, a sign that a leverage flush may be coming soon. Bitcoin Open Interest Rises To High Values As pointed out by an analyst in a CryptoQuant post, the BTC open interest has now reached values where mass liquidations have taken place in the past. The “open interest” is an indicator that measures the total amount of BTC futures positions currently open on derivatives exchanges. The metric accounts for both long and short positions. When the value of the metric…

SEC Delays Decision on NYDIG’s Spot Bitcoin ETF Proposal

The Securities and Exchange Commission (SEC) has extended the time period for ruling on NYDIG’s proposal for a spot bitcoin ETF by 60 days in order to have “sufficient time to consider the proposed rule change and any comments received.” The SEC’s original deadline was Jan. 15, so now it has until March 15 to make a decision. In recent months, the SEC has rejected spot bitcoin ETF proposal from a number of investment companies, including Van Eck, WisdomTree and Kryptoin. It also recently delayed its decisions on spot bitcoin…

Altcoins turn bullish even as Bitcoin price slips below $46K again

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The mood across the cryptocurrency is one of growing anticipation as the price of Bitcoin (BTC) continues to trade just below $47,000. The sideways price action has analysts warning that an “explosive volatility period” is rapidly approaching but few have been willing to predict the direction of the breakout.  While Bitcoin price compresses, the altcoin market has come alive and multiple tokens are posting notable gains, especially in the DeFi cohort. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and…

Adidas Originals NFT Compilation Enters Top 50 Collections by Volume, Close to $60M in Sales in 18 Days – Bitcoin News

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Less than 20 days ago, the German multinational sneaker and sportswear corporation Adidas launched the company’s Adidas Originals non-fungible token (NFT) collection and since then the NFT compilation has surged into the top 50 NFT collections in terms of sales. Adidas NFT Collection Sees Significant Demand in Less Than 20 Days At the end of November 2021, Adidas revealed it was “excited” about the metaverse and said the company had partnered with Coinbase and acquired land in The Sandbox. The following week, Adidas told the press it partnered with the…

What Crypto Can Learn From Elizabeth Holmes’ Fraud Conviction

After a yearslong saga of accusations, investigations and angry denial, erstwhile business media darling Elizabeth Holmes has reached the final stage of investor grief: conviction. A jury late Monday found that she defrauded investors in Theranos, the health-testing startup she founded and led. Optimists may think of the verdict as a broad sea change in the way the U.S. public views technology founders. But a closer look shows specific lessons that tech founders, and perhaps crypto founders in particular, should take away from Holmes’ grim downfall if they want to…

Bitcoin Gets Fresh Start After Flush Of Options Open Interest

Bitcoin started 2022 on a different trajectory than the one expected by most traders. Moving sideways for the majority of Q4 last year, the first crypto by market cap seems proposed to more volatility in either direction. Related Reading | Bitcoin Breaks $51k Again As 20k BTC Flows Out Of Exchanges As of press time, Bitcoin trades at $46,803 with sideways movement in the last 24 hours. BTC’s price returned to its current levels after a rejection around the $50,000 area as 2021 came to an end. BTC moving sideways…

Crypto funds attracted $9.3B in inflows in 2021 as institutional adoption grew

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Institutional cryptocurrency funds attracted record inflows in 2021, as demand for digital assets such as Bitcoin (BTC) and Ether (ETH) continued to grow during a volatile and often unpredictable bull market.  Crypto investment products registered $9.3 billion in inflows during the year, up from $6.8 billion in 2020, according to the latest CoinShares data that was released on Tuesday. Bitcoin funds attracted $6.3 billion worth of capital last year, while Ether products saw inflows totaling nearly $1.4 billion. Multi-asset funds were also popular, attracting $775 million in investor capital. A…