South Korea’s Democratic Party of Korea (DPK) is eager to relax regulations on exchange-traded funds (ETFs), including those tied to spot bitcoin, despite resistance from the People Power Party (PPP). Although election concerns have temporarily halted the initiative, a crucial poll is set for April 10, and the parliament is predominantly controlled by the DPK-led […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Trading Guru Peter Brandt has recently commented on the Ethereum vs. Bitcoin chart, offering intriguing insights into market developments. Brandt’s remark comes after his prior critiques of Ethereum, denigrating it as a “junk coin” and its proponents as “Etheridiots.” However, amidst Ethereum’s recent descent to its lowest position against Bitcoin in nearly three years, Brandt’s stance seems to have transformed. Ethereum Plunges Against Bitcoin: A Bear Trap? Upon analyzing the Ethereum-to-BTC chart, Brandt suggested the presence of a “bear trap,” indicating that the ongoing decline in Ethereum’s value compared to Bitcoin…
The CryptoQuant platform author shared their opinion on the return of the Bitcoin price above $70,000 after several weeks of correction. According to the expert, the price of Bitcoin (BTC) recovered after several weeks for several reasons. First, the crypto market saw a significant portion of investors’ profits for $2.7 billion, while selling pressure weakened as holders of short-term bonds ceased to realize the losses from the price correction. Another reason for recovering the first cryptocurrency is the release of several billion stablecoins USDT last week. “New USDT has been…
The latest data reveals that Blackrock’s spot bitcoin exchange-traded fund (ETF) has increased its bitcoin portfolio, now encompassing 263,937.48 bitcoins valued at $17.88 billion. Spot Bitcoin ETF Reserves Reach New Heights Several U.S. spot bitcoin ETFs have bolstered their bitcoin (BTC) holdings, bringing the total for ten ETFs, excluding Grayscale’s Bitcoin Trust (GBTC), to 519,440.22 […] Original
Crypto analyst Armando Pantoja recently outlined his price targets for several crypto tokens after the fast-approaching Bitcoin Halving. Although he included price targets for Bitcoin and Ethereum, his ambitious price target for Shiba Inu (SHIB) was what caught the attention of the crypto community. Shiba Inu To Hit $0.001 After The Halving Pantoja predicted in an X (formerly Twitter) post that Shiba Inu could rise to $0.001 after the Bitcoin Halving occurs later this month. As expected, this price prediction has raised eyebrows, considering SHIB’s current price level. Moreover, a…
Digital asset investment products have reached a record inflow for the year after receiving $646 million from investors mainly interested in Bitcoin last week. According to CoinShares, cryptocurrency investment vehicles have garnered over $13.8 billion in 2024’s first four months. The milestone coincided with interest in Bitcoin (BTC), as the token experienced demand from Wall Street investors via spot BTC ETFs and was the primary driver behind inflows into investment products. Bitcoin received inflows of over $663 million last week. Still, short-BTC investment rails stifled the asset’s overall weekly haul…
Central banks kept up demand for gold in February, registering net purchases of 19 tonnes. Albeit the purchasing trend continued, purchases fell 58% compared to January’s demand, according to IMF and World Gold Council numbers. China reported the largest gold accumulation, acquiring 12 tonnes to maintain a 16-month gold purchasing streak. Gold Demand Still High […] Source CryptoX Portal
On-chain data shows Polygon (MATIC) is currently inside the same buy zone that earlier led to rallies of around 112% and 87% for the asset. Polygon 30-Day MVRV Ratio Is Significantly Negative Currently As pointed out by analyst Ali in a post on X, MATIC is showing a historically bullish pattern in its 30-day MVRV ratio. The “Market Value to Realized Value (MVRV) ratio” here refers to an on-chain indicator that keeps track of the ratio between the Polygon market cap and realized cap. The realized cap is a capitalization…
Brad Garlinghouse highlighted several macroeconomic factors behind the potential growth of the total crypto market value. Source
Two of China’s largest fund management firms have recently been reported to be filing applications for spot bitcoin exchange-traded funds (ETFs), according to regional sources on Monday. Harvest Global Investments and Southern Fund are seeking approval from Hong Kong’s Securities and Futures Commission (SFC), aiming to obtain authorization to introduce spot bitcoin ETFs. China’s Investment […] Original