Day: August 16, 2024

NYSE Scrubs Plan to List BTC ETF Options

The SEC extended its review period multiple times after publishing the NYSE proposal for public comment in February 2024, eventually initiating formal proceedings in April, but the proposal was withdrawn by the exchange before a final decision was made. Source

Illicit crypto activity drops 20%, but stolen funds surge, Chainalysis says

Analysts at Chainalysis say illicit blockchain activity has dropped nearly 20% YTD, yet stolen funds and ransomware inflows continue to rise. Illicit crypto activity has declined nearly 20% year-to-date, a positive sign for the growing legitimacy of the sector, according to a mid-year report from blockchain analytics firm Chainalysis. Despite the decline, there are still concerning trends in specific types of cybercrime, the firm noted, saying that funds stolen in crypto heists nearly doubled to $1.58 billion and ransomware inflows rose by 2% to $459.8 million in the first half…

Will Bitcoin Trade Above $70K By September? Analysts Weigh in

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Bitcoin’s (BTC) price continues fluctuating within the $58,000 to $61,000 price range following its recovery from the ‘Black Monday’ crash. However, analysts remain unsure about the next step for the flagship cryptocurrency. Some market watchers suggest the key levels BTC must break to continue the bullish run, while others highlight signals that could indicate a timeline for the next leg up. Related Reading Analysts Unsure About BTC’s Next Move On August 5, the crypto market experienced a massive crash that shredded over 20% of most cryptocurrencies’ gains. Bitcoin led the…

Analyst Warns: Bitcoin Nears Dangerous Territory – $40,000 On The Horizon?

Bitcoin is trading for $59,545, a slight increase of 0.5% in the past 24 hours. Although little, this surge in its price is quite noteworthy as it comes against the backdrop of Bitcoin’s price plunging as low as $57,812 earlier today. Regardless of this modest recovery, a recent analysis by a CryptoQuant author on the CryptoQuant QuickTake platform has revealed that Bitcoin might now be approaching a precarious position. Bears At The Gates? Analyzing BTC’s Vulnerable Stance According to the CryptoQuant analyst Grizzly, Bitcoin’s Net Unrealized Profit/Loss (NUPL) metric—a tool…

While Useful, Bitcoin Will Not Replace the U.S. Dollar, Russian Analyst Warns

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Viktor Pershikov, a Russian expert in financial markets, has explored the opportunities that crypto and bitcoin will bring to Russia following the laws approved recently by President Putin. Pershikov stated that, while some cryptocurrencies present interesting opportunities as payment tools, ultimately, no cryptocurrency can currently substitute for the U.S. dollar. Russian Analyst States Bitcoin Won’t […] Original

Key Catalysts Poised To Drive The Crypto’s Comeback

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In a recent report, market researcher and analyst DeFi Ignas has provided a detailed analysis of the current bearish and bullish cases for the leading altcoin, Ethereum (ETH), offering valuable insights into the cryptocurrency’s prospects. Factors Behind The Ethereum Underperformance Ethereum has struggled to keep pace with its crypto peers over the past two years, declining 47% against Bitcoin (BTC) and underperforming Solana (SOL) by 6.8x since the market lows of early 2023.  According to Ignas, the reasons behind this underperformance are open to debate, but a few key factors…