Day: January 19, 2024

IntoTheBlock explains why Bitcoin’s price fell after ETF approval

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IntoTheBlock provides insights into the unexpected downturn in Bitcoin’s market, particularly following the approval of the Bitcoin ETF. Data shared in a Jan. 19 X post by blockchain analytics firm IntoTheBlock shows that Bitcoin (BTC) prices have decreased by approximately 10% in the past week, a trend that contradicts many market predictions. The firm’s analysis reveals several key factors contributing to this trend. There has been a significant increase in Bitcoin inflows into centralized exchanges for the past six weeks, with nearly $2 billion in net deposits since December. This…

Most spot Bitcoin ETFs will not survive

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Grayscale’s Michael Sonnenshein backed the longevity of his firm’s spot Bitcoin ETF as it saw over $2.2 billion in outflows less a week after approval. Holding north of $25 billion in assets under management, Grayscale’s Bitcoin Trust (GBTC) ETF is the biggest spot Bitcoin exchange-traded fund of 11 funds authorized by the United States Securities and Exchange Commission (SEC) on Jan. 10. Grayscale also boasts the highest fees of the lot at 1.5%, but this will not deter its future success, according to CEO Michael Sonnenshein. Commenting on Bitcoin (BTC)…

Crypto Analyst Predicts Massive XRP Crash To $0.34

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XRP holders may have to deal with more price declines from the crypto token if this crypto analyst’s recent analysis is anything to go by. This bearish analysis comes amidst several other predictions that have painted bullish narratives for the crypto token.  XRP Could Drop To As Low As $0.34 Crypto analyst Ali Martinez highlighted how a possible XRP sell-off could trigger a price decline to $0.34. As part of his analysis, he stated that XRP was currently “grappling” to maintain its footing at the crucial $0.55 support level. The…

Analyst predicts crypto bull run will be more parabolic than 2021

In a Jan. 19 video on Crypto Banter, Kyle Chassé, the founder of Master Ventures, shares why he believes this year will result in $100,000 BTC and $7,000 ETH. Chassé predicts that Bitcoin will hit $100,000 this year, although these prices won’t be seen until around May when the post-halving rally starts. In the meantime, the analyst suggests that 15%-20% pullbacks are likely. To back up his prediction, Chassé points to the Bitcoin (BTC) charts to highlight that massive buy pressure from institutions is much more than the market has…

The Answer Lies With Bitcoin, Not Stablecoins

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Bitcoin, however, offers a truly decentralized option, getting us closer to freedom as non-domination. Bitcoin’s decentralized nature prevents the type of domination that comes with the centralized structures of stablecoins or traditional finance. Each participant can impact the network’s decisions, reducing the risk of arbitrary power, and thus fostering a more republican view of freedom. Original

Jim Cramer calls Bitcoin price decline ‘nasty sell-off’

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TV personality and founder of hedge fund Cramer & Co. Jim Cramer called the decline in Bitcoin a “nasty beginning to the sell-off”. In his post in X on Jan. 19, Cramer doubted the prospects for further growth of the first cryptocurrency. As an argument, he noted that an asset cannot double in price by hundreds of billions in anticipation of an ETF. Nasty beginning to the bitcoin selloff. Someone’s probably going to try to make a stand here but as we said last night you can’t have an asset…

XRP Price Drop Vs. BTC, ETH: Lawyer Dissects Driving Forces

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The XRP price dynamics, in comparison to its more dominant counterparts, Bitcoin (BTC) and Ethereum (ETH) have been a subject of intense scrutiny and debate. Pro-XRP lawyer Bill Morgan recently shed light on this perplexing trend through a detailed discourse on X (formerly Twitter), sparking a wide array of responses and theories from the community. Morgan, reflecting on the long-term performance of XRP, pointed out a noticeable trend: “The XRP price dynamic seems to be to move with the market meaning BTC and Ethereum but to gradually over the long…

Grayscale Bitcoin Trust sellout has clear reasons

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A crypto trader shared why he believes Grayscale Bitcoin Trust is seeing a mass sellout. Grayscale Bitcoin Trust (GBTC) has been observed selling off its Bitcoin (BTC) holdings, with recent reports indicating that the firm recently moved $1.3 billion of Bitcoin to Coinbase. Pseudonymous crypto trader Ash Crypto explained that he believes that market forces are the sole reason behind this liquidation in a Jan. 18 X post. Historically, GBTC has been a significant holder of Bitcoin. This accumulation was primarily due to their practice of redeeming shares by paying…

Bitcoin bulls target $50k, NuggetRush and Bonk vie for dominance

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Capital flowing into spot Bitcoin ETFs Bonk has little upside potential in 2024. NuggetRush may rally after launching Investor sentiment post spot Bitcoin ETF approval has been upbeat. In the wake of this frenzy, this post will discuss whether Bitcoin (BTC) will hit $50,000 in the coming sessions. Meanwhile, a new Bonk (BONK) competition has emerged in NuggetRush (NUGX), a new P2E memecoin.  NuggetRush versus Bonk NuggetRush blends utility and…