Month: January 2024

Will 2024 Be the Year of the Bitcoin ETF?

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Nigeria’s Central Bank Fleshes Out New Rule Allowing Crypto Firms’ Access to Bank Accounts

Nigeria’s push to increase oversight of digital assets aligns with recent initiatives from neighboring African nations, where cryptocurrencies have become increasingly popular as hedges against inflation. In 2022, Botswana passed a law regulating the digital assets sector despite opposition from some lawmakers in the country. Meanwhile, the Bank of Mauritius has been planning to launch a central bank digital currency, Bloomberg News reported. Source

Crypto Market Can Easily Handle Bitcoin ETF Trading Volume, Which Could Be Worth Billions of Dollars

While the work of APs is considered the “primary” market, another key player, market makers, is needed in the “secondary” market, for example on exchanges, where most of the trading is done. Market makers build on the role APs fill by buying ETF shares when others want to sell them, and vice versa. If prices get out of whack, they can earn a profit by trading to nudge them back in line. In some cases, market makers also play the role of the AP. Source

Bitcoin (BTC) Price Targets $50,000 on BTC ETF Approval, Traders Say

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Bitcoin Reclaims $43,000 On Rumor Of ETF Approval Tomorrow

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In a strong turnaround from yesterday’s flash crash, the Bitcoin (BTC) price has staged a recovery, breaching the $43,000 mark. This surge comes after yesterday’s intense volatility, where the cryptocurrency giant witnessed an over 11% flash crash following a controversial report from Matrixport. The report suggested a potential rejection by the US Securities and Exchange Commission (SEC) of the much-anticipated spot Exchange Traded Funds (ETFs), triggering the second-largest liquidation of long positions in the past year. Bitcoin’s price plummeted to as low as $41,500. However, Bitcoin is today stabilizing above…

Why is crypto down today? Matrixport and other FUD

The crypto market witnessed a sharp decline just hours after the Matrixport report on Jan. 3. However, data shows that investors believe this could be a local bottom. According to data provided by CoinGecko, the global crypto market capitalization is down by 4.8% in the past 24 hours and is currently hovering around $1.73 trillion — registering a $70 billion decline.  On the other hand, CoinGecko data shows that the 24-hour global crypto trading volume recorded a 95% rally over the past day — rising from $94 billion to $183…

Cathie Wood’s Investment Firm Sells $25M of COIN Stock

ARK’s ETFs have a target weighting whereby no individual holding exceeds 10% of the fund’s total value. Having more than doubled in price in the last three months of 2023, COIN has consistently held above that threshold in both ARKK and ARKW, leading to regular sales of the crypto exchange’s stock by Cathie Wood’s firm. Source

Will a Bitcoin ETF Be Approved in the U.S.? Some 83% Say ‘Yes’

“This market will resolve to ‘Yes’ if any spot Bitcoin ETF receives approval from the SEC by January 15, 2024, 11:59:59 PM ET. Otherwise, this market will resolve to ‘No,’” conditions of the bet say. “The primary resolution source for this market will be information from the SEC, however, a consensus of credible reporting may also be used.” Source

Traders liquidate almost $700m amid Bitcoin’s precipitous decline

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Against the falling Bitcoin (BTC) exchange rate, the daily liquidation volume on the crypto market approached $700 million. Traders liquidated $698 million worth of positions in the last 24 hours, according to Coinglass data. Source: Coinglass The majority came from BTC, $11.1 million, with the vast majority coming from short positions. Ethereum (ETH) became the second most popular asset for liquidation, with traders liquidating $5.57 million worth of positions, most of which came from long. Source: Coinglass Positions were mainly liquidated on crypto exchanges Binance, OKX, and Bybit. The most…