Other things being equal, tighter monetary policy is often a headwind for risk assets – bitcoin among them – as higher rates boost competition for investor capital. With a cycle of lower interest across Western economies seemingly at hand, bitcoin bulls might soon have their sights set on the crypto’s all-time high from March above $73,500. Original
On June 4, 2024, U.S. spot bitcoin exchange-traded funds (ETFs) saw their second-largest day of inflows since their launch in January. The inflows totaled approximately $886.6 million, with Fidelity’s FBTC leading, capturing $379 million on Tuesday. U.S. Spot Bitcoin ETFs Secure Over $61 Billion in BTC Holdings Spot bitcoin ETFs have been experiencing daily inflows […] Source CryptoX Portal
“Like other US listed miners, $RIOT’s biz model is a dysfunctional hamster wheel of cash burn, which is why it loots retail shareholders with non-stop ATM issuance to fund operations. Even with $BTC near all-time highs, post-halving $RIOT’s mining ops aren’t profitable,” the firm said in a social media post on X (formerly Twitter). Source
The Shiba Inu (SHIB) burn rate is again under the radar following a drastic decline in the number of tokens burned. This development is significant considering the impact that these token burns are known to have on the meme coin. Shiba Inu Burn Rate Crashes By Over 99% Data from the burn tracking website Shibburn shows that Shiba Inu’s burn rate has declined by 99.44% in the last 24 hours. Only 120,888 Shiba Inu tokens have been burned during this period, which is way low compared to the over 21…
The Japanese crypto exchange outlined plans on its website to raise $320 million to purchase bitcoin and repay their hack’s victims. According to DMM Bitcoin’s website, all clients who held Bitcoin (BTC) during the hack will be guaranteed a refund from what is described as “group companies.” “As initially reported, we will guarantee all of the Bitcoin (BTC) held by customers by obtaining support from group companies to replace the amount of Bitcoin (BTC) that was leaked,” the website read. DMM Bitcoin obtained a 5 billion yen loan on June…
Bitcoin price is back trading above $70,000 after weeks of sideways price action. The recent boredom and sideways grind, however, isn’t necessarily a bad thing. In the past, such lulls in volatility have preceded the top cryptocurrency’s greatest rallies on record. Let’s take a look. Bitcoin Historical Volatility Reaches Record Low The term volatility often has a negative connotation surrounding it. For example, Oxford Languages defines volatility as the “liability to change rapidly and unpredictably, especially for the worse.” In financial markets, the term refers to how much and how…
Bitcoin has climbed past $70,000 and is now the world’s ninth-largest asset by market capitalization, among many publicly traded companies and precious metals. Despite overtaking silver’s market value in March, the leading cryptocurrency must reach $84,740 per coin to match silver’s current $1.67 trillion valuation. Bitcoin Is Now in 9th Place Among the World’s Largest […] Original
The U.S. Securities and Exchange Commission (SEC) has announced the closure of its Salt Lake Regional Office (SLRO) due to attrition and a focus on organizational efficiency. This move will reduce the number of SEC regional offices from 11 to 10. The jurisdiction for Utah, previously held by SLRO, will now be managed by the […] Source BitcoincryptoexchangeExchanges CryptoX Portal
In a video update, Miles Deutscher, a widely followed crypto expert, provided his 502,800 followers on X with an in-depth analysis of the current market conditions. This update came in response to what Deutscher described as “massive ramifications” for certain altcoins following a notable Bitcoin price surge. Deutscher began his discussion by pointing out a significant rally in Bitcoin’s price, which soared from $68,500 to over $71,000. This movement aligns with his observation of substantial inflows into Bitcoin spot ETFs, which he highlighted as nearly reaching $900 million in a…
BTC crossed $71,000 early Wednesday after spot bitcoin ETFs had their best day of inflows since March. Bitcoin has risen about 3% in the last 24 hours, while the CoinDesk 20 Index (CD20), representing a broad measurement of the digital asset market, is up around 2.8%. Bitcoin peaked at $71,341 at the start of the European morning, its highest since May 21. It subsequently pulled back to trade around $70,900. Nevertheless, BTC is showing a green candle for the fifth consecutive day, its longest such stretch since March. Original