Month: January 2024

Deribit sees significant interest in $50k Bitcoin call options

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In response to Bitcoin’s recent price fluctuations, the options market is showing heightened activity, particularly with a focus on call options at a $50,000 strike price set to expire on Jan. 26. According to Deribit data, over 8,300 contracts, valued at $376 million, are outstanding at this strike price, suggesting a notable anticipation of a potential rise in Bitcoin’s value. Across all expiry dates on Deribit, there are more than 21,800 contracts for calls at $50,000, totaling a notional value of $926 million. Additionally, Velo Data highlights a skew towards…

Why The Crypto Flash Could Be The Buy The Dip Moment

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In a flash, nearly $200 billion in value was wiped out of the cryptocurrency market today in a larger selloff driven by rumors that pending Bitcoin ETF approvals could end up denied by the SEC. Despite the carnage across crypto today, this could be the moment dip buyers have been waiting for. Recapping The Crypto Market Flash Crash At around 6AM this morning, Bitcoin price began falling, causing a cascade of liquidations in altcoins. Bitcoin dropped nearly 10% while altcoins fell anywhere between 20 and 30% from local highs. The…

CoinShares sees $2.2b influx in 2023 crypto product investments

In the final week of 2023, cryptocurrency investments surged with a $243 million inflow, reaching a yearly total of $2.2 billion, fueled by Bitcoin’s substantial 86% share and market optimism. James Butterfill, Head of Research at CoinShares, reported that Bitcoin (BTC) dominated this surge, representing 86% with over $1.9 billion in inflows, followed by Solana’s (SOL) at $167 million. However, multi-asset and BNB exchange-traded products (ETP) defied the trend, experiencing net outflows of $18 million and $1 million, respectively. Comparing the data to the previous year, 2023 exhibited increased inflows.…

Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It’s Impossible

XRP YouTuber Moon Lambo has hit out at those who believe that the XRP price could be worth $20,000 in the future. The analyst believes that this price level is unattainable for the crypto token as he highlighted reasons why he holds this belief.  Why The XRP Price Cannot Rise To $20,000 In a video on his YouTube Channel, Moon Lambo explained that XRP’s market cap will need to run into quadrillions of dollars if it were to achieve that price level based on its current market cap. However, from…

Asset manager backs Bitcoin price to hit $80K in 2024

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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. Bitcoin could reach an all-time high price of $80,000 in 2024, according to a prominent analyst. Let’s dive into this optimistic forecast. Analysts say a trifecta of catalysts could push Bitcoin price Potential approvals of Bitcoin spot ETFs, the Bitcoin halving set for April, and growing demand from enterprises could drive Bitcoin to $80,000 by the year-end according to AllianceBernstein. Bitcoin rallied by over 150% in 2023 and has…

Forget The SEC And Bitcoin ETF Approval Drama, Here’s Why Bitcoin Flash Crashed

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The recent flash crash of Bitcoin from over $45,500 to as low as $41,100 has sent shockwaves throughout the crypto community, sparking debate over the underlying causes. While some have attributed the crash to unconfirmed rumors that the US Securities and Exchange Commission (SEC) might, after all, not approve Bitcoin ETFs in January, The Wolf Of All Streets on X suggests a different explanation. Blame The High Funding Rate For The BTC Crash The analyst points to the ultra-high positive funding rate on perpetual futures contracts as the primary culprit. In…

Imminent Approval of U.S. Bitcoin ETF Boosts Crypto Market Optimism

The SEC has requested that issuers have their authorized participant agreement – describing who will play the key role of creating and redeeming ETF shares – available in the coming days. Authorized participants are a central part of the ETF business, but this job will be a particularly tough one, with bitcoin ETF APs needing basic knowledge of digital assets and the ability to provide safekeeping and custody, conduct due diligence for anti-money-laundering and know-your-customer purposes, ensure compliance with sanctions regulations, deal and place crypto asset orders on behalf of…

Bitget stacks workforce amid growing interest in Bitcoin, BRC-20 tokens

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Bitget increased its headcount ahead of anticipated developments in crypto’s two largest decentralized networks and the intersection between AI and digital assets.  The crypto exchange added some 400 staffers to its workforce during 2023 in preparation for major industry trends involving Artificial Intelligence (AI), Bitcoin (BTC), and Ethereum (ETH). According to a letter from managing director Gracy Chen, Bitget’s hiring spree increased its employee number from 1,100 to 1,500. Chen said the extra hands were needed to leverage technological upgrades that have galvanized Bitcoin fervor and gradually displayed its value…