Day: March 29, 2024

Coinbase Sees Largest USDC Inflow Ever, What This Could Mean For Bitcoin

boss

On-chain data shows Coinbase has just witnessed its largest USD Coin (USDC) inflow. Here’s why this may be relevant for Bitcoin. Coinbase Has Just Seen A $1.4 Billion USDC Inflow As pointed out by analyst Maartunn in a post on X, a large amount of USDC has flowed into Coinbase during the past day. The on-chain indicator of interest here is the “exchange inflow,” which keeps track of the total amount of a given asset entering into the wallets associated with a centralized exchange or group of platforms. A spike…

Bitcoin futures open interest hits record $36b before options expiry

boss

Bitcoin futures open interest surged to over $38 billion today, as BTC price increased 10% over the week.  The surge reflects growing investor interest and speculative activity around Bitcoin’s future price movements. Binance, the world’s leading cryptocurrency exchange, reported its highest BTC open interest to date, at $8.4 billion. BTC futures open interest | Source: Coinglass Record-setting open interest in Bitcoin futures comes as $15.1 billion worth of Bitcoin and Ethereum options are set to expire, potentially leading to increased volatility. Options expirations often trigger significant price movements as traders…

Bitcoin Futures Open Interest Hits Record $37.55 Billion With CME Leading the Pack

boss

On Friday, March 29, 2024, the combined open interest in bitcoin futures reached a new all-time peak of $37.55 billion. This uptick occurs amid buoyant bitcoin markets and a growing attraction from institutional investors. Bitcoin Futures Open Interest Reaches Unprecedented $37.55 Billion Since the close of 2023, interest in bitcoin (BTC) derivatives has escalated, reaching […] Original

Grayscale Bitcoin ETF Sees Drastic 60% Drop In Outflows, Why This Is Important

boss

The outflows from the Grayscale Bitcoin ETF rocked the market hard last week, leading to a dramatic decline in the BTC price. However, with the new week, there has been a change in direction as investors begin to get bullish on Bitcoin once more. As a result, the outflows from the Grayscale ETF have slowed down, reaching one of its lowest points for the month. Grayscale Bitcoin ETF Outflows Drop 60% Grayscale outflows ramped up last week, spearheading what would turn out to be a full week of outflows from…

Meme coin investors catch speculative mood

IntoTheBlock experts note a meme coin speculative sentiment increase amid the ongoing bull market. According to the latest IntoTheBlock report, traders increasingly turn to speculative opportunities promising high returns. The trend is evident throughout the meme coin sector, as seen in the emergence of new meme coins and the resurgence of older ones gaining popularity again. Analysts note that the same trend of speculative activity was observed in previous cycles and is now beginning to appear in the current one, as evident from the performance of the meme coin sector.…

Bitcoin Ready To Rip? Indicator Prints Bullish Signal After 9 Years

boss

One analyst on X thinks Bitcoin bulls may be in for a treat in the coming months after one key indicator printed a buy signal for the first time in nearly a decade. While pointing to a bullish crossover on the 2-month chart’s Golden Moment Indicator, the analyst said the signal is again flashing green in almost nine years.  Further cementing this outlook, this is forming as yet the Supertrend indicator, which has historically preceded every major Bitcoin uptrend, is also bullish. BTC bull signals print | Source: Analyst on X…

Binance Executives File Suit Against Nigeria: Local Media

In separate filings, Tigran Gambaryan, head of financial crime compliance at the world’s largest crypto exchange, and Nadeem Anjarwalla, regional manager for Africa, urged the Federal High Court in Abuja to order the agencies to release them, return their passports and issue a public apology, Leadership reported, citing the government-owned News Agency of Nigeria. Source

Dogecoin Enters New Trend Set To Drive Price To $0.3: Analyst

boss

Amid the recent momentum displayed by the meme-inspired cryptocurrency Dogecoin (DOGE), Rekt Capital, a crypto trader and analyst, has identified a new trend that could propel DOGE’s price to the $0.3 price mark in the short term. Dogecoin (DOGE) Inititate New Macro Uptrend Over the past few weeks, Dogecoin has been performing fairly well, triggering optimism and expectations for more price growth. Due to this, the top meme currency in the world in terms of overall market valuation has always generated discussion within the sector. DOGE’s recent spike in price…

Tokenized US Treasury Bonds Hit $1 Billion Milestone on Public Blockchains

This week, 21.co’s onchain data analyst Tom Wan presented figures revealing that tokenized U.S. Treasury bonds on public blockchains have surpassed the $1 billion mark. The analyst highlighted that Blackrock’s BUIDL experienced significant growth of 400%, escalating from $40 million to $240 million within a span of a week. The Rise of Tokenized Real-World Assets […] Source CryptoX Portal