Day: June 20, 2022

Bitcoin futures enter backwardation for the first time in a year

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Bitcoin’s (BTC) month-to-date chart is very bearish, and the sub-$18,000 level seen over the weekend was the lowest price seen since December 2020. Bulls’ current hope depends on turning $20,000 to support, but derivatives metrics tell a completely different story as professional traders are still extremely skeptical. BTC-USD 12-hour price at Kraken. Source: TradingView It’s important to remember that the S&P 500 index dropped 11% in June, and even multi-billion dollar companies like Netflix, PayPal and Caesars Entertainment have corrected with 71%, 61% and 57% losses, respectively. The U.S. Federal…

Ex-Sushi CTO Raises $8 Million for Astaria, an NFT Lending Platform

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Astaria, a non-fungible token (NFT) lending platform and liquidity engine, has acquired $8 million in early capital to support its development throughout the down market. True Ventures, Arrington Capital, Ethereal Ventures, Wintermute, Genesis Trading, LedgerPrime, Hypersphere Ventures, The LAO, and several other investors participated in the preliminary round of funding.   Users can use Astaria to generate instant liquidity by putting up their NFTs as collateral. According to Justin Bram, the co-founder and CEO of Astaria, the recent drop in NFT sales, coupled with signs of a bear market, makes Astaria’s…

Cleveland Fed President Loretta Mester Is ‘Not Predicting a Recession,’ Says Inflation Will Move Down – Economics Bitcoin News

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Cleveland Federal Reserve Bank president Loretta Mester doesn’t think a recession will take place in the United States but believes it will take two years to get inflation back down to 2%. While speaking during an interview on Sunday, Mester explained that while it will take two years, inflation “will be moving down.” A 2% Inflation Rate Will Take 2 Years to Achieve, Says Cleveland Fed President Loretta Mester The president and CEO of the Federal Reserve Bank of Cleveland, Loretta Mester, spoke to CNBC in an interview on Sunday…

Bitcoin. Que el ánimo no decaiga. Hemos salido de peores situaciones.

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io LINK de NEXO: (Bonus de 100$ en Bitcoin para la gente que abra cuenta con este link y deposite y mantenga la cantidad de 1000$ o más, al menos un mes) LINK DE BINANCE : Link de Kucoin: POOL DE CARDANO DEL CANAL : LINK DE ATANI : LINK de SORARE (JUEGO DE FUTBOL CON NFTs): Dan una carta limitada gratis al comprar 5 cartas si se abre la cuenta con este link. LINK DE BLOCKFI : The BIAs (blockfi interes accounts)…

Bitcoin Long-Term Holder Loss-Taking Now Highest Since 2019

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On-chain data shows Bitcoin long-term holder SOPR has reached the deepest value since 2019, suggesting this cohort has been realizing some heavy losses recently. Bitcoin Long-Term Holder SOPR Continues To Trend Down As pointed out by an analyst in a CryptoQuant post, BTC long-term holders are currently realizing the largest amount of losses since 2019. The “spent output profit ratio” (or SOPR in brief) is an indicator that tells us whether Bitcoin investors are selling at a profit or at a loss right now. The metric works by checking through…

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Iranian government to cut power supply for the country’s legal crypto mining rigs

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According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran’s Ministry of Energy, said that the entity would be cutting the power supply to all of the country’s licensed crypto mining firms by the beginning of July. Citing an anticipated electricity deficit from the peak-summer season, Mashhadi stated, “There are currently 118 authorized [digital currency] extraction centers in the country, which must cut off their electricity supply from the national grid from the beginning of July.” “Last week, the country’s electricity consumption recorded an…

Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Bitcoin plummeted over the weekend below the ATH reached in 2017, at around $19,600. Coinglass, a trading and information platform, shows that there were $600 million in liquidations as Bitcoin dropped to a low of $17,600 approximately. Bitcoin suffered around $300 million in liquidations whilst Ethereum endured $200 million. Despite this downward price action, Bitcoin closed the week strong above $20,000 and some on-chain metrics suggest a macro bottom, or temporary bottom, could be close. Why are many altcoins showing strength…

More ‘forced selling’ ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever

Canada’s Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto’s most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund’s holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever. Purpose Bitcoin ETF holdings. Source: Glassnode Interestingly, another Canadian crypto fund, dubbed 3iQ CoinShares Bitcoin ETF, witnessed similar outflows, dropping from…