Day: May 31, 2024

Conviction Fails to Deter Donald Trump’s 2024 Election Odds, According to Polymarket Bets

Following the landmark news of former President Donald Trump’s conviction on 34 counts related to a hush-money scheme allegedly influencing the 2016 election, data from the Polygon-powered prediction market Polymarket shows Trump still leading in forecast bets for the 2024 election. Convicted But Leading: Trump Tops 2024 Election Predictions on Polymarket According to Polymarket, Donald […] Source CryptoX Portal

How Will Mt. Gox’s Bitcoin Distribution Affect Crypto Prices?

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As the defunct cryptocurrency exchange Mt. Gox prepares to distribute around $9 billion worth of Bitcoin, some investors are worried about the potential impact on prices. However, industry experts and major creditors believe that any short-term volatility will be outweighed by BTC’s long-term bullish prospects.  With the approval of US spot Bitcoin exchange-traded funds (ETFs), many market experts anticipate that the market will absorb the newly available tokens.  Bitcoin Optimism Among Market Participants As reported by our sister website, Bitcoinist, Mt. Gox’s Japanese trustee, Nobuaki Kobayashi, recently announced plans to…

Uniswap Postpones Protocol Upgrade Vote; UNI Tumbles 9%

“Over the last week, a stakeholder raised a new issue relating to this work that requires additional diligence on our end to fully vet,” said the Foundation. “Due to the immutable nature and sensitivity of our proposed upgrade, we have made the difficult decision to postpone posting this vote.” Source

You can’t argue with Bitcoin’s success

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Martin expressed optimism about Bitcoin ETFs, highlighting their potential and the resources they’ve already brought to Wall Street Lynn Martin, president of the New York Stock Exchange Group, expressed this optimism at Consensus 2024 when asked about the launch of Bitcoin (BTC) ETFs and the potential they hold for Wall Street. She cited the resources they have already brought to the market. “We’ve been having conversations with the SEC for more than six years about Bitcoin ETFs,” Martin said in an interview. “I think you can’t argue with the success…

Crypto Analyst Reveals Why $69,000 Is Very Important In The Grand Scheme Of A Bitcoin Recovery

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Crypto analyst Pierre has provided insights into why $69,000 is a significant price level for Bitcoin. He suggested the flagship crypto could hit a new all-time high (ATH) if it successfully holds above that range.  A Breakout Above $69,000 Could Lead To A Bitcoin Recovery Pierre mentioned in an X (formerly Twitter) post that Bitcoin must break above $69,000 as it would allow the crypto token to retest a range around the ATH region of $73,000. This could also open up the possibility of the flagship hitting a new ATH…

Ethereum Investors Take On Sky-High Leverage: Brace For Volatile Storm?

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Data shows the investors in the Ethereum derivatives market have been taking on very high leverage recently, something that could lead to volatility for the asset. Ethereum Estimated Leverage Ratio Has Been At Extreme Levels Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the ETH Estimated Leverage Ratio has been on the up recently. The “Estimated Leverage Ratio” (ELR) refers to an indicator that keeps track of the ratio between the Ethereum Open Interest and Exchange Reserve. The former of these, the Open Interest, here is…

Bitcoin Price (BTC) Dips to $67.3K as Stocks Struggle

This week’s muted action in bitcoin – the price has essentially stayed in the $67,000-$69,000 range – came alongside struggles for other risk assets, U.S. stocks amongst them. While still remaining close to all-time highs, the Nasdaq is lower by about 2% this week, while the S&P 500 is off by roughly 1.5%. Source