Month: February 2024

BlackRock and Fidelity’s Bitcoin ETFs break into top 10 with $4.8b January inflow

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BlackRock and Fidelity’s spot Bitcoin ETFs have entered the top 10 ETFs with the highest inflows in January, amassing around $4.8 billion. The iShares Bitcoin Trust by BlackRock secured eighth place with an impressive $2.6 billion in net flows, closely followed by the Fidelity Wise Origin Bitcoin ETF, which captured tenth place with $2.2 billion, according to a Feb. 3 report from Morningstar research analyst Lan Anh Tran. This influx contrasts sharply with the Grayscale Bitcoin Trust, which experienced the second-highest outflows among ETFs, losing an estimated $5.7 billion. Nate…

Merlin Chain Secures Funding to Empower “Bitcoin-native” Innovations – Blockchain News, Opinion, TV and Jobs

New York, United States, February 5th, 2024, Chainwire Merlin Chain, the native Bitcoin Layer2, announced a round of funding from 24 investors including OKX Ventures, ABCDE, Foresight Ventures and Arkstream Capital. Merlin Chain offers a native scaling solution that integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules. It is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1, to Make Bitcoin Fun Again. Merlin Chain is built by Bitmap Tech, a premier OG team boasting an overall market cap exceeding $500 million. The BRC-420 “Blue…

El Salvador votes for continuity and crypto under Bukele’s leadership

Nayib Bukele, celebrated for his pro-bitcoin stance and aggressive crime-fighting policies, is poised to secure a second term as El Salvador’s president, with exit polls showing his “Nueva Ideas” party commanding an 87% lead in the recent elections. The remarkable margin suggests Bukele could continue to lead until 2029, highlighting the electorate’s strong approval of his governance. #ElSalvador | Resultados preliminares con base en boca de urna, arrojan que tal como se previó en las encuestas, @nayibBukele tendría la ventaja en los comicios presidenciales con un porcentaje superior al 87%…

Why Is Bitcoin Price Not Going Up Despite The ETFs? Expert

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In a recent analysis, Fred Krueger, the former founder and chairman of Traffic Marketplace, offered a nuanced explanation for the seemingly paradoxical situation where the Bitcoin price has fallen despite the influx of over $5 billion in new assets through Exchange-Traded Funds (ETFs) by BlackRock and Fidelity. Since January 11, the first trading day of the ten spot ETFs, the Bitcoin price has currently plunged by 13% (over 21% at times). Why Is Bitcoin Price Not Going Up? Krueger’s insights, shared via X (formerly Twitter), delve into the complex dynamics…

Bitcoin halving will impact Kangamoon, Ethereum, and Optimism

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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. In 2024, Bitcoin halving will happen. This event will likely impact altcoins like Kangamoon (KANG), Ethereum (ETH), and Optimism (OP).  Ethereum is evolving In the coming years, Ethereum will continue to upgrade.  As it is, more institutions are adopting Ethereum, which has led to an increase in its total value locked and transition to a deflationary asset.  Despite potential challenges, experts are bullish.  ETH is steady, with supporters bullish…

Crypto Market Stagnant in the Last Days of the ‘Year of the Rabbit’

Last year, CLSA, a Hong Kong-based brokerage firm, predicted in a January note that 2023 will see market fluctuations, attributing a calmer outlook to the Year of the Rabbit while advising investors to venture beyond their comfort zones cautiously. And indeed, the market “hopped” back from its dismal 2022 performance, with bitcoin having jumped nearly 94% over the last year, with ether (ETH) rising 47%. Source

BNB Price Increase To Continue? This Resistance Could Trigger Fresh Rally

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BNB price is attempting a fresh increase from the $288 zone. The price could start a fresh rally if there is a clear move above the $310 resistance. BNB price is showing bullish signs above the $300 pivot level. The price is now trading below $310 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $306 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair gather bullish momentum if there is a close above the…

Ethereum Bears Keep Pushing, Why Decline Isn’t Over Yet

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Ethereum price is again moving lower from the $2,325 resistance. ETH could decline heavily if there is a move below the $2,270 support zone. Ethereum is showing a few bearish signs from the $2,325 zone. The price is trading below $2,300 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a fresh increase if it manages to clear the $2,325 resistance zone. Ethereum Price Struggles Below $2,325…

Nayib Bukele Wins Re-Election in El Salvador

In 2021, El Salvador became the first nation to adopt the largest cryptocurrency as legal tender, developed and introduced a crypto wallet Chivo to enhance bitcoin adoption and also started buying the asset as an investment. The move, while widely applauded by bitcoin enthusiasts, drew criticism from international organizations such as the International Monetary Foundation (IMF). Source