Month: April 2024

Options market projects Bitcoin’s chances of reaching $100k

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More than 600 Bitcoin $100,000 strike call options were traded in a significant block trade earlier today.  According to Greeks.live, the traders had a notional value of up to $45 million and $8.5 million worth of premiums alone. Per the options market, traders are confident that Bitcoin’s price will reach or exceed $100,000. In simple terms, many traders are wagering that Bitcoin’s price will soar much higher, underlining a bullish sentiment in the cryptocurrency market. Bitcoin broke through the $70,000 zone without warning, one step away from a new all-time…

PEPE In Peril? Dwindling Exchange Supply Raises Price Jitters

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The world of memecoins continues to be a rollercoaster ride, and Pepe (PEPE) is no exception. Recent on-chain data reveals a surge in tokens moving out of exchanges, potentially signaling a bullish sentiment among investors. However, conflicting indicators cast a shadow of doubt on the sustainability of this upward trend. Pepe Soars Out Of Exchanges, Suggesting Investor Confidence A significant development for PEPE is the movement of a large number of tokens away from exchanges. According to Santiment, a blockchain analytics platform, the supply of PEPE outside exchanges reached a…

Detained Binance Executive Pleads Not Guilty; Nigerian Judge Sends Him to Prison

The Binance executive detained by Nigerian authorities for nearly six weeks has pleaded not guilty to charges of money laundering. Binance expressed deep disappointment that Tigran Gambaryan, who holds no decision-making power within the company, remains in detention. Judge Dismisses Tigran Gambaryan’s Arguments Tigran Gambaryan, a detained executive from Binance, pleaded not guilty to money […] Source CryptoX Portal

Bitcoin Can Reach $140,000 After This Rare Signal Prints: Analyst

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Bitcoin may be hovering below its all-time highs, but analysts are turning bullish based on a rare chart formation. Taking to X, the analyst observed that BTC has closed two consecutive months above the upper Bollinger Band on the monthly chart.  Bitcoin rides the Bollinger Bands | Source: Analyst on X A Rare Bollinger Band Signal Prints: BTC To $140,000? The analyst said that historically, when Bitcoin closes two consecutive months above the upper Bollinger Band on the monthly chart, prices tend to double within three months. If this pattern holds,…

Stablecoins USDT, USDC Expand by $10B in a Month, May Drive Crypto, Bitcoin (BTC) Prices Higher

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The supply of Tether’s USDT and Circle’s USDC – the two largest stablecoins – expanded by nearly $10 billion combined over the past 30 days, 10x Research pointed out. Meanwhile, the supply of MakerDAO’s DAI and Hong Kong-based First Digital’s FDUSD, the third and fourth largest stablecoins, also expanded by 5%-10% in this period, CoinGecko data shows. Original

Crypto Does Not Have an Illicit Finance Problem, Bad Actors Do

While Senators weigh the merits of Adeyemo’s important testimony, they should also weigh the consequences of more than five years of U.S. policy inaction in regulating the very wayward corners of the crypto industry that pose the greatest threats to consumers, markets and, indeed, national security. U.S. policymakers and regulators, from Treasury Secretary Janet Yellen, to Federal Reserve Chairman Jerome Powell (and Deputy Secretary Adeyemo), have all made calls for Congressional action. They focus particularly on dollar-denominated stablecoins, the crypto world’s digital thrift, much of which borrow the trust of…

South Korea’s Democratic Party to Introduce ETF and Digital Finance Reforms

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

Ethereum Dive To 3-Year Low Against Bitcoin, Is This A Bear Trap? Trading Guru Weighs In

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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…

CryptoQuant shares reasons behind Bitcoin’s $70k recovery

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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…

10 US Bitcoin ETFs Amass Over 519,000 BTC, With Blackrock Leading at 50.81%

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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