Day: November 23, 2023

Bitcoin flows from Binance to Coinbase after tumultous week

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The crypto markets have observed a subtle yet noteworthy shift in Bitcoin (BTC) flows from Binance to Coinbase Pro amid Binance’s recent regulatory challenges and the anticipation of a spot Bitcoin ETF in the United States. Data from CryptoQuant reveals that, as of 4:00 PM on Nov. 22, approximately 5,000 BTC exited Binance, finding a new home in Coinbase Pro, which saw an uptick of around 12,000 BTC in its reserves. The catalyst behind this movement appears to be the legal troubles faced by former Binance CEO Changpeng Zhao. He…

Bitcoin Price Nears $38K as US vs Binance Battle Sparks Bullish Outlook

Market experts are convinced the settlement between Binance and the US government is a bullish event for Bitcoin and the altcoin industry with spot ETFs anticipated anytime soon. The forced stepping down of former Binance Holdings Ltd CEO Changpeng Zhao which accompanied a $4.3 billion fine among other settlement agreements, has turned out to be a bullish signal for Bitcoin (BTC) and the entire altcoin industry, which was in the green on Thursday. According to the latest market data, the flagship crypto asset has gained about 2.6 percent to trade…

Bitcoin Derivative Traders Eyeing $40,000 after Binance Settlement

Bitcoin has managed to successfully sail through amid several concerning events in the crypto space, with derivatives data showing strength. Amid all the developments surrounding Binance‘s $4.3 billion settlement with the US SEC, the BTC price continues to hold around $37,500. This low volatility in the Bitcoin price shows that external events are having less impact on the world’s largest crypto. Bitcoin Remains Unshaken Amidst the recent turmoil in the cryptocurrency market, there are suggestions of potential manipulation of Bitcoin’s price to mitigate contagion risks. These risks involve the issuance…

BlackRock Meets SEC over Spot Bitcoin ETF and Redemption Requirements

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In the filing BlackRock proposed In-kind redemptions could also offer tax efficiency, avoiding the need to sell securities for redemptions, which might trigger capital gains taxes. Representatives from BlackRock and the Nasdaq engaged in discussions with the United States Securities and Exchange Commission (SEC) regarding the proposed rule permitting the listing of a spot Bitcoin (BTC) exchange-traded fund (ETF). A November 20 SEC memo revealed that BlackRock presented a plan outlining the potential use of either an in-kind or in-cash redemption model for its iShares Bitcoin Trust. The SEC’s response…

User claims $11M in Blur token rewards at NFT marketplace’s season 2 airdrop

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A pseudonymous nonfungible token (NFT) trader made around $11 million in the recent airdrop reward distribution conducted by the NFT marketplace Blur.  Dune analytics data showed that a wallet with the Ethereum Name Service (ENS) tag called “hanwe.eth” claimed a total of 22,851,000 Blur (BLUR) tokens in the season 2 airdrop of Blur. At the time of writing, coin price tracker CoinGecko showed that the amount is worth around $11.2 million. It’s time to BLAST OFF. I just received 22851000 $BLUR from @BLUR_io‘s Season 2 drop. Season 3 starts NOW…

Volume of Bitcoin in hodlers’ accounts exceed 70%

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On Nov. 22, 2023, the share of the circulating supply of Bitcoin that was active more than a year ago exceeded 70%. According to analytics firm Glassnode, the share of Bitcoin’s circulating supply that was active more than a year ago has reached 70.3%, a new milestone for the original cryptocurrency. Source: Glassnode The data from MacroMicro follows the general trend, albeit with a different figure – indicating a 70.71% of circulating supply of Bitcoin active more than a year ago. Moreover, judging by the portal data, the ATH was set…

Bitcoin ETF hype returns as ‘aggressive bid’ sends BTC price near $38K

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Bitcoin (BTC) took fresh aim at $38,000 into Nov. 23 as an “aggressive bid” dispelled cold feet over Binance’s $4.3 billion fine. BTC/USD 1-hour chart. Source: TradingView Bitcoin analysis: “Something is cooking” Data from Cointelegraph Markets Pro and TradingView showed BTC price strength making a striking comeback to top out at $37,870. A subsequent cooling off kept the market near $37,500, with the mood markedly different from just 24 hours prior. Then, concerns over United States legal action against the largest exchange, Binance, sparked a cascade of long liquidations, which…

Bitcoin ETF hype returns as ‘aggressive bid’ sends BTC price near $38K

Bitcoin (BTC) took fresh aim at $38,000 into Nov. 23 as an “aggressive bid” dispelled cold feet over Binance’s $4.3 billion fine. BTC/USD 1-hour chart. Source: TradingView Bitcoin analysis: “Something is cooking” Data from Cointelegraph Markets Pro and TradingView showed BTC price strength making a striking comeback to top out at $37,870. A subsequent cooling off kept the market near $37,500, with the mood markedly different to just 24 hours prior. Then, concerns over United States legal action against largest exchange Binance had sparked a cascade of long liquidations, which…

XRP Bulls Eyeing $40 Price Target, Despite Doubts

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Renowned cryptocurrency analyst Dark Defender, with a substantial following of nearly 100,000 individuals on platform X, has drawn attention to the emergence of a “cup and handle pattern” in the daily time frame of the cryptocurrency XRP. Based on his analysis, provided that the token maintains a closing price above the support level of $0.604, XRP has potential for a positive upswing towards the price goals of $1.05 and $1.88. Although Dark Defender’s projection has all the bullish elements to give XRP some badly needed boost in price, another analyst’s…