Day: December 3, 2023

BTC price nears $40K as as Bitcoin trader eyes return to all-time high

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Bitcoin (BTC) held closer to the $40,000 mark on Dec. 3 after weekend gains reinforced a “strong” uptrend. BTC/USD 1-hour chart. Source: TradingView Bitcoin leaves $60 million in shorts hanging Data from Cointelegraph Markets Pro and TradingView tracked a fresh BTC price surge, which took BTC/USD to new 2023 highs of $39,730. These built on upward momentum, which had entered days prior, as Bitcoin hit $39,000 for the first time since mid-2022. With derivatives leading into the end of the Wall Street trading week, commentators had argued that spot buyers…

3 reasons why Chainlink price can rally another 20% by New Year’s

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Chainlink (LINK) price has rebounded by over 240% from its yearly low of around $4.70 in June 2023. It may rise further still in the coming days and weeks, according to a slew of on-chain and technical indicators, as discussed below. LINK price nears ascending triangle breakout LINK’s price has been consolidating inside what appears to be an ascending triangle pattern since November 2023. Ascending triangles are bullish continuation patterns when formed during an uptrend. They resolve when the price breaks above the upper trendline and rises by as much…

LINK Price Climbs Above $16 Again

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The LINK price seems to be intensifying its bullish momentum again after cooling off over the past few weeks. Despite the recent sluggishness in Chainlink’s price action, the cryptocurrency has maintained most of its profit and managed to stay above the $14 level in the past weeks. Interestingly, the LINK price recently made its way above the $16 mark for the second time in less than a month. But here is the question – what is driving the latest surge? On-Chain Data Reveals Catalyst For Chainlink’s Jump To $16 The…

FTX and Alameda transfers another $22M worth of crypto asset

Blockchain analysis firm Lookonchain reported that cryptocurrency powerhouses FTX and Alameda Research are actively engaged in a substantial transfer of digital assets, amounting to an impressive $22 million. The diverse cryptocurrency mix comprises $IMX, $GMT, $ETH, UNI, $SHIB, $BAL, $LOOKS, and $WOO. Following their bankruptcy declaration, FTX and Alameda Research have actively maneuvered in cryptocurrency, another bouquet of digital assets, transferring significant amounts to prominent exchanges. Since October 2023, the company has orchestrated remarkable transactions, reaching a cumulative value of $551 million across 59 diverse tokens. In their most recent…

Grayscale Bitcoin Trust aims for ETF shift to narrow discount

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Grayscale, a significant player in digital asset management, has expressed enthusiasm about the potential transformation of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. This move could eliminate the current 8.09% discount of approximately $1.89 billion, aligning GBTC’s price more closely with the actual value of Bitcoin, offering significant benefits for investors. The company’s chief legal officer, Craig Salm and chief financial officer, Edward McGee, revealed the details. Pending approval from the United States Securities Exchange Commission, GBTC is set to transition from its current platform, OTCQX, to the…

Here Are Four Crypto Assets Poised For A Major Price Explosion

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The general crypto market has recorded a slight boost in the last week as market leader Bitcoin surged by 4.44% to trade above the $39,000 price mark. As bullish sentiments continue to rise, popular crypto analyst Austin Arnold has now highlighted four tokens that offer investors a high potential for profitability in the coming weeks. Top Crypto Tokens Set For A Massive Price Rally – Austin Arnold Speaking in a recently published video on his YouTube channel Altcoin Daily, Arnold stated that certain tokens are “set to rip through the…

Ethereum team lead sees zero interest from university in collaborating

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Peter Szilagyi, the team lead of Ethereum, has expressed frustration over his alma mater’s lack of interest in providing opportunities for students to collaborate with Ethereum (ETH). In a series of posts on X (formerly Twitter), Szilagyi explained that he had always felt a lack of genuine interest when he returned to his old university to deliver talks about Ethereum. He stated that the students appeared to be more focused on the price of Ethereum rather than the project itself. ETH has increased 20.10% over the last 30 days. At…

Nov. 26 – Dec. 2 – Cointelegraph Magazine

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Top Stories This Week Bitcoin ETF race gets 13th entrant, BlackRock revises ETF model Asset manager Pando Asset has become an unexpected late entrant into the spot Bitcoin ETF race in the United States. On Nov. 29, Pando submitted a Form S-1 — used to register securities with the agency — to the U.S. Securities and Exchange Commission for the Pando Asset Spot Bitcoin Trust. Like other ETF bids, the trust aims to track Bitcoin’s price with the custody arm of the crypto exchange Coinbase to hold Bitcoin on behalf…

Bitcoin’s top of funnel is becoming less noisy, suggests Swan Bitcoin CEO

Swan Bitcoin CEO Cory Klippsten has suggested that the spot Bitcoin (BTC) exchange-traded fund (ETF) will suppress the loud and flashy marketing strategies that have served as the initial gateway for many into the crypto space since 2017. During a recent interview with Bloomberg on December 1, Klippsten reiterated that Bitcoin ETFs offer an alternative entry into the market at a time when it has been tainted by well-funded crypto marketing schemes, not all of which have proven to be legitimate. “The past six years from 2017 through 2023, the…