Month: September 2023

End Of The Road? Why A Bitcoin Price Surge to $28,500 Could Lead To A Crash

boss

The crypto market is finally seeing some green during today’s trading session, with the Bitcoin price rising above $27,000 for the first time since late August. Similar to that occasion, the cryptocurrency stands at a crossroads, but bulls should remain cautious, new data suggests. As of this writing, the Bitcoin price trades at $27,200 with a 3% profit in the last 24 hours. Over the previous week, the cryptocurrency experienced a 9% gain, with the rest of the top 10 by market cap displaying similar price action but lagging BTC.…

Crypto fund outflows reach nearly half a billion over 9 weeks — CoinShares

boss

Outflows from crypto exchange-traded products (ETPs) reached $455 million over the previous nine weeks, according to a report from asset manager CoinShares. Outflows from ETPs generally indicate negative sentiment toward cryptocurrencies. Let’s analyse the latest dynamics in digital asset investment products. Here is our #FundFlows with @jbutterfill. Last week, outflows totalled US$54m.There have been outflows for 8 out of the last 9 weeks that aggregate to US$455m. 1/4 pic.twitter.com/23TRrTuN3L — CoinShares (@CoinSharesCo) September 18, 2023 Crypto exchange-traded products are designed to track crypto prices. When shares of these funds fall…

Price analysis 9/18: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, TON, SOL

boss

Bitcoin and select altcoins are attempting to make a comeback as traders expect the Fed to hold rates steady during its meeting this week. The failure of the bears to sink Bitcoin’s price below $25,000 support ignited buying interest last week. The positive momentum picked up further at the start of the new week, and buyers are trying to sustain Bitcoin’s (BTC) price above $27,000. Market participants seem to be buoyant on expectations that the Federal Reserve will not hike rates again this year. The CME FedWatch Tool shows a 58%…

The Truth Behind Cuba’s Bitcoin Revolution: Video

boss

Cuba, a country known for its unique blend of rich history, vibrant culture and political isolation, is the focus of Cointelegraph’s latest on-the-ground documentary. The Truth Behind Cuba’s Bitcoin Revolution explores Bitcoin’s (BTC) impact in one of the world’s last remaining communist states.  The documentary provides a firsthand account of how Cubans are using Bitcoin to navigate challenging economic circumstances, attract new businesses and save money in a censorship-heavy environment. Journalist and Bitcoin enthusiast Joe Hall embarked on the journey to Cuba, determined to witness and capture the “Bitcoin revolution” that…

5 reasons why governments don’t accept web3

With recent advancements in technology bringing web3 closer to becoming a reality, some governments may be unwilling to cede control to the people. Web3 is a catch-all term that refers to the next iteration of the internet: an open-source, decentralized, permissionless, and trustless system built on top of blockchain technology.  However, even as the reality of web3 draws closer, there seems to be an unwillingness among government authorities to embrace it. Some observers have hypothesized that this seeming hostility stems from government fears of losing control and oversight of the…

SEC claims Ceffu wallet provider is ‘Binance-related’ in motion against BAM

boss

In its latest filing regarding its motion to compel against BAM, the holding company for Binance.US, the United States Securities and Exchange Commission (SEC) has claimed that wallet provider Ceffu is indeed “Binance-related.” This is in contradiction to claims made by Binance in earlier court documents. The redacted filing argues again that Binance’s request for a protective order against the SEC investigation is meritless. It calls for the court to deny that request. Binance made the request in the U.S. District Court for the District of Columbia on Aug. 14, calling…

This Bitcoin Metric Continues To Retest Bear-Bull Junction, Will A Break Happen?

boss

On-chain data shows a Bitcoin indicator has continued to retest the bear-bull transition point recently, but is yet to obtain a break. Bitcoin Short-Term Holder SOPR Is Retesting The Break-Even Level As pointed out by an analyst in a CryptoQuant post, the short-term holders have continued to sell at a loss recently. The relevant indicator here is the “Spent Output Profit Ratio” (SOPR), which tells us whether the average investor in the Bitcoin market is selling at a profit or at a loss right now. When the value of this…

$2,000,000,000 Worth of Crypto Wash Trading on Ethereum-Based Decentralized Exchanges, Says Surveillance Firm

boss

A crypto surveillance firm says that billions of dollars in fake market volume are flowing through decentralized exchanges (DEXs) on Ethereum (ETH). In a new report, Solidus Labs says crypto token deployers and liquidity providers have wash traded at least $2 billion worth of crypto assets on Ethereum-based DEXs since 2020. Wash trading involves entities buying and selling an asset at the same price from themselves to artificially inflate the trading volume and attract more investments and liquidity According to Solidus, 67% of the roughly 30,000 DEX liquidity pools it…

Hut 8 Merger with USBTC Greenlighted by Canadian Supreme Court

The merger between Hut 8 and USBTC is not just a significant event within the crypto space, it also holds great promise for investors and the broader financial markets. In a recent development, Hut 8 Mining Corp (NASDAQ: HUT) has received final approval from the British Columbia Supreme Court for its merger with US Bitcoin Corp (USBTC). The Journey to Merger Between Hut 8 and USBTC The merger between Hut 8 and USBTC was first announced in February 2023, marking a pivotal moment in the crypto space. However, this momentous…