Outflows from gold exchange-traded funds and a surge in bitcoin ETF inflows fueled speculation investors were shifting from the precious metal into the cryptocurrency. Original
Gold Investors Aren't Switching Into Bitcoin, JPMorgan Says
Day: March 15, 2024
Banco Do Brasil to Test Offline Payments in Brazilian CBDC Pilot
Banco Do Brasil, a bank owned in its majority by the Brazilian state, and Giesecke+Devrient, are partnering to explore the possibilities of bringing offline payments to the future Brazilian CBDC, Drex. The joint initiative will include this functionality in Drex’s pilot, to extend access to financial services to Brazilians with difficult or no access to […] Source CryptoX Portal
Bitcoin retreats from record high amid analyst warnings of 20% market correction
IntoTheBlock’s head of research cautions that the market is showing signs of ‘being overheated,’ citing escalating leverage in both centralized and decentralized finance sectors. With Bitcoin’s (BTC) price retracing from its peak and dipping below $69,000, analysts at IntoTheBlock warn of the market showing signs of “being overheated,” sparking worries of a potential correction. The crypto market is showing signs of being overheated. An increasing amount of leverage in DeFi and CeFi markets suggests we may soon experience a correction. Let’s dive in – based on @intotheblock‘s weekly newsletter 👇🚨…
Why Is Bitcoin Price Down Today? 3 Key Reasons
Today’s Bitcoin price movement is a confluence of factors including massive liquidations, macroeconomic pressures, and the impact of negative Coinbase Premium alongside Bitcoin ETF dynamics. These elements combined have led to a noticeable dip in Bitcoin’s price. #1 Long Liquidations Today’s Bitcoin market saw a significant price drop, initiated by a sweeping liquidation event on the futures market. Over the last 24 hours, crypto trader liquidations exceeded $682.54 million across more than 191,000 traders, according to Coinglass data. This surge in liquidations resulted in Bitcoin’s price plummeting by 8% in…
Investors shift away from Bitcoin mining stocks as spot ETFs open new avenue, Luxor says
With the approval of spot Bitcoin ETFs, traditional investors seem no longer relying on crypto-friendly mining stocks as a proxy to gain access to BTC. Publicly traded Bitcoin (BTC) mining companies have traditionally served as a gateway for investors to gain exposure to the largest cryptocurrency by market capitalization without directly owning it. However, the recent approval of spot Bitcoin exchange-traded funds (ETFs) has dramatically changed this dynamic. In a statement to crypto.news, Alessandro Cecere, marketing specials at Bitcoin mining services firm Luxor Technologie said that the market “may now…
Bitcoin Blockchain Layer-2 Project BVM Gains Traction With Promise of ‘Juicy’ Airdrops
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…
Stifel Resumes Galaxy Digital Coverage With a Buy Rating
“The company offers an asymmetric return profile with significant principle exposure to bitcoin (BTC) and ether (ETH); a diverse group of revenue-producing businesses across trading, investment banking and asset management; and longer-term outsized growth potential through its infrastructure solutions arms, which focuses on core technologies that power decentralized networks,” analysts Bill Papanastasiou and Suthan Sukumar wrote. Source
Bitcoin Mining Difficulty Hits Unprecedented Levels
The winds of change are blowing through the Bitcoin landscape. On March 14th, 2024, the network witnessed a monumental shift – mining difficulty skyrocketed to a record-breaking 84 trillion hashes. This unprecedented challenge coincides with another significant event on the horizon: the Bitcoin halving slated for April. According to BTC.com, the rate has risen by nearly 5.80% since the previous modification. The mining hashrate for the original coin has also peaked, indicating that more people are now participating in the mining process. At present, the value stands at 617 EH/s.…
Two Democrat Senators Ask SEC’s Gensler to Block Approval of More Crypto ETPs
“Brokers’ communications falsely equated cryptocurrency with cash; in others, they provided misleading explanations of cryptocurrency’s risks,” they wrote. “These alarming deficiencies raise significant concerns that brokers and advisers may now provide incomplete and deceptive information about bitcoin ETPs to retail investors.” Source
Avalanche Foundation Snaps up KIMBO, COQ, and Three Other Tokens as First Meme Coin Investment
The Foundation first said in December it would invest in meme coin as part of a digital culture drive. Source