Day: December 15, 2023

Bitcoin may peak this month, analyst forecasts

Crypto analyst Jason Pizzino believes Bitcoin may peak within the next month before seeing a market pullback. Price predictions can be tricky business. Yet, according to one analyst, a prolonged run-up in overall crypto market sentiment as measured by the Crypto Fear & Greed Index may be one factor suggesting a pullback may be coming soon. According to Jason Pizzino, a crypto analyst on YouTube, the index’s multi-month climb to greed levels represents the longest sustained rise compared to previous market cycles. The analyst also laid out his case for…

Ledger vulnerability put entire DApp ecosystem at risk: Finance Redefined

boss

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi saw an unprecedented chain of events unfold on Dec. 14 when a malicious actor exploited a vulnerability in the Ledger hardware wallet’s connector library. The exploit put the entire decentralized application (DApp) ecosystem at risk. On-chain analysts and DApps like SushiSwap and MetaMask advised users not to interact with their wallets at all. Ledger released a patch…

SEC meets with BlackRock for iShares Bitcoin ETF 

boss

In their latest meeting, SEC and BlackRock reportedly discussed the iShares Bitcoin ETF on Dec. 14, raising questions about in-kind transactions. Unlike previous meetings, James Seyffart, a Bloomberg Intelligence analyst, reports that there were no presentations. As part of a follow-up thread on X, Seyffart reminds the community that Hashdex, another firm in the spot Bitcoin ETF race, had also engaged with SEC’s Office of the Chair. After this, a community member asked Seyffart about the likelihood of SEC approval, given Chairman Gary Gensler’s comment on listening to the courts from yesterday. …

Analyst Forecasts Further Bitcoin Correction, Signals Alts Market Upswing

boss

Jason Pizzino, a seasoned macro investor and swing trader, has recently put forward his analysis indicating a potential pullback for Bitcoin. His observations, informed by a deep understanding of market dynamics, suggest that Bitcoin’s prolonged rally could soon give way to further correction. Altcoins Set To Shine As Bitcoin Undergoes Correction Pizzino’s analysis is grounded in a comprehensive review of various market indicators. The analyst has been closely monitoring the altcoin sector, noting an accumulation of upside potential which could lead to impactful market movements, especially with the upcoming Bitcoin…

Iris Energy boosts self-mining with purchase of Bitmain T21 miners

Iris Energy acquires 8,380 miners for $22.3 million, aiming for 10 EH/s mining capacity. Iris Energy Limited, a computer application company based in Australia, has confirmed the procurement of 8,380 T21 miners from Bitmain Technologies Delaware Limited in a Dec. 15 press release. The cost of the miners is said to be $22.3 million, which will be payable in incremental payments.  In line with the Company’s objective to expand its self-mining capacity to 10 EH/s, it is worth noting the current operating capacity stands at 5.6 EH/s.  Upcoming shipments to…

SEC officials meet again with spot Bitcoin ETF filers

boss

The United States Securities and Exchange Commission has held a new round of discussions with asset managers proposing a spot Bitcoin (BTC) exchange-traded fund (ETF) in the U.S., this time with officials from Gary Gensler’s office participating in the meetings. Based on court filings, the regulator received representatives from BlackRock on Dec. 14 to discuss the proposed rule change that would enable the crypto investment vehicle to be traded on major exchanges. According to Bloomberg ETF analyst Jayme Seyffart, this is the third meeting between BlackRock and the SEC to…

Bitcoin ETF approvals anticipated in January; Ethereum in unique position

boss

In a recent episode of The Scoop podcast, Bloomberg Intelligence analysts James Seyffart and Eric Balchunas predict a high likelihood of the SEC approving a series of spot Bitcoin ETFs between Jan. 5-10. Seyffart and Balchunas’s prediction aligns with the final deadline for the ARK and 21Shares application, initially filed in April, preceding other major players like BlackRock in June in a competitive field of 12 firms. Seyffart speculates that the Securities and Exchange Commission (SEC) has been strategically delaying decisions, possibly to align multiple approvals simultaneously. This approach would…

SEC responds predictably to Coinbase’s 2022 crypto rulemaking petition: No

boss

The United States Securities and Exchange Commission has denied a Coinbase petition for rulemaking on transactions with cryptocurrencies that are securities. Coinbase filed the petition in July 2022 and pushed steadily for a response. SEC Chair Gary Gensler announced the commission’s decision in a Dec. 15 statement. He gave three reasons for denying Coinbase’s petition, which requested “rules to govern the regulation of securities that are offered and traded via digitally native methods, including potential rules to identify which digital assets are securities.” Gensler first argued that existing laws and…