The country’s Central Banker says fiat money is more credible than stablecoins because it has the power of government behind it. Source
New Zealand Central Banker Adrian Orr Says Stablecoins Aren’t Stable: Report
Day: February 12, 2024
Bitcoin (BTC) Logs Biggest Weekly Gain Since October as S&P 500 Tops 5K
Bitcoin (BTC), the leading cryptocurrency by market value, rose nearly 13.5% to $48,300 in the seven days to Feb. 12, the biggest single-week gain since October, according to CoinDesk data. At the same time, CoinDesk 20 Index, a measure of the biggest cryptocurrencies, has risen 11%. Original
Signs Point to Fresh BCH Rally Ahead
Bitcoin Cash price rallied over 15% and broke the $275 resistance. BCH is now facing strong resistance near the $282 zone. Bitcoin cash price started a fresh surge above the $250 resistance. The price is trading above $265 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $258 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $282 resistance zone. Bitcoin Cash Price Rallies Above $270…
Ethereum Price Signals Uptrend Exhaustion But Dips Could Be Attractive
Ethereum price is struggling to clear the $2,550 resistance. ETH could start a downside correction if there is a move below the $2,475 support. Ethereum is consolidating gains below the $2,550 resistance zone. The price is trading above $2,480 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2,515 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,475 support zone. Ethereum Price Remains Supported Ethereum price…
Bitcoin ETFs Flows Could Propel BTC Prices to $112K This Year: CryptoQuant
CEO Ki Young Ju said on X the “worse case” for bitcoin was at least $55,000, or a nearly 15% bump from Monday’s prices. The targets were made based on the effect of inflows on bitcoin’s market capitalization and a metric ratio that has historically indicated if prices were “overvalued” or “undervalued.” Source
9 Bitcoin ETFs Accumulate 208,878 BTC Worth $10 Billion, Overshadowing Grayscale’s Sell-Off
Since the conclusion of the spot bitcoin exchange-traded fund (ETF) trading sessions on Feb. 9, 2024, the nine freshly launched ETFs have amassed 6,009.49 bitcoin, valued at approximately $288 million. Concurrently, Grayscale’s Bitcoin Trust (GBTC), which evolved into a publicly-traded exchange-traded product, has sold off about 2,252.2 bitcoin, amounting to roughly $108 million. New Bitcoin […] Original