Day: December 11, 2023

What do they mean and are they frequent?

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A Bitcoin (BTC) block that took over an hour to mine made headlines earlier in November. This is despite Bitcoin’s core protocol being written to aim to mine a block every 10 minutes. Block 815,690 is the latest outlier to generate press speculation. This block took one hour and nine minutes to mine on Nov. 7. Public interest in an hour-plus confirmation time is not a singular event. Roughly once or twice a year, a media outlet picks up on a long block validation event and decides to run with…

Bitcoin Price (BTC) Decline Has Crypto Stocks COIN, MSTR, and MARA Buckling

The price drop followed a swift correction in crypto markets Sunday evening, with BTC dropping nearly 10% from the $44,000 level in the space of a few minutes in what might be termed a “flash crash.” At press time, bitcoin was trading at $41,700, down about 5% over the past 24 hours. The CoinDesk Market Index (CMI), a basket of almost 200 crypto assets, was also down 5%, highlighting the broad-market negative day. Source

Final lap before spot Bitcoin ETF in play

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Analysts opined that the U.S. SEC would likely approve spot BTC ETFs in early January 2024, with eyes on the deadline for a decision on ARK Invest’s application.  ETF expert Nate Geraci surmised that the final response date for ARK Invest’s joint filing with 21Shares for a spot Bitcoin (BTC) ETF further strengthens predictions of approval within the first two weeks of January 2024. The Securities and Exchange Commission (SEC) has until Jan. 10 to decide whether to accept or deny ARK Invest’s bid. Geraci speculated that this hints at…

Bitcoin $42,000 Support Under Pressure As Short Position Inflows Soar

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Bitcoin (BTC) recently experienced a sharp decline, tumbling towards $40,000 amid a broader sell-off across the cryptocurrency market. While the most significant token managed to recover some losses, currently trading 4% lower at $42,000, concerns persist regarding the potential for further downside price action before a potential recovery. Investors Show Caution With Short-BTC Position Inflows According to a recent CoinShares report, digital asset investment products witnessed their 11th consecutive week of inflows, totaling $43 million. Notably, there was a significant increase in short position inflows due to recent price appreciation…

AI-Based Analytical Tools for Smart Trading

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The fintech world is abuzz about the launch of TradeWire, an innovative analytics platform utilizing cutting-edge artificial intelligence to provide traders with game-changing insights and capabilities. TradeWire aims to revolutionize the playing field by democratizing access to robust technology that was previously only available to well-funded institutional firms. For the first time, ordinary investors can now leverage the immense power of machine learning and AI once reserved for quantitative hedge funds. TradeWire: An Advanced AI-Driven Smart Trading Platform TradeWire offers traders an end-to-end solution for implementing data-driven investing strategies. The…

M&G invests $20m in UK’s first regulated Bitcoin derivatives exchange

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London-based global investment manager M&G Investments has injected $20 million into Global Futures & Options Holdings, positioning it as the first FCA-regulated and centrally-cleared trading venue for digital currency asset derivatives in the U.K. According to the Dec. 11 announcement, the strategic partnership, in collaboration with London Clearing House, aims to meet the increasing demand from institutional investors. Growing institutional interest  In a recent series B funding round, M&G’s Crossover strategy allocated capital from the $162 billion Prudential With-Profits Fund to Global Futures & Options Holdings (GFO-X). The investment underscores M&G’s…

Bitcoin miners attract venture capital, new crypto mining project raises funds

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. According to a Messari report, Bitcoin miners have attracted the most venture capital investment in November. This surge comes as Bitcoin mining operations seek to expand their facilities and upgrade equipment to stay competitive. With new mining projects like Bitcoin Minetrix (BTCMTX) garnering traction in presale, the mining sector appears to show no signs of slowing down. Venture capital floods Bitcoin miners ahead of halving Crypto fundraising saw a…

X-Spot granted trademark injunction against Huobi Global in Hong Kong

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X-Spot Global Limited, a company owned by Huobi Global exchange (now HTX) co-founder Leon Li, has won an injunction against Huobi Global for the latter to cease its use of the Chinese-equivalent “Huobi” trademark in Hong Kong. According to a recent decision with the Hong Kong High Court, the HTX exchange will be barred from using the trademark name Huobi (火幣) and the Chinese business name “火必,” which is “confusingly similar” to the English trademark in Hong Kong, pending a final trial on the matter. Presiding judge Mimmie Chan J…