The chairman of the Swiss National Bank has expressed reservations about incorporating bitcoin into the central bank’s currency reserves. He stated that no decision has been made yet to invest in bitcoin, underscoring the necessity for currency reserves to be liquid, sustainable, and easily tradable, given their use in international payments. Swiss National Bank on […] Original
The yen’s devaluation didn’t impact crypto markets yet, but this could change if the BOJ steps in to prop up the currency, Noelle Acheson, analyst and author of the Crypto Is Macro Now reports, said in an email interview. A possible intervention would mean the BOJ selling U.S. dollar assets (U.S. Treasuries) to buy yen, and a weaker greenback could in theory help crypto prices, she added. Original
Nearly a week after the halving, Bitcoin Runes have achieved a milestone as observers and participants alike deliberate over the impacts of the new standard. According to a Dune Analytics dashboard, the Runes protocol on Bitcoin (BTC) has raked in $135 million in transaction fees on the cryptocurrency’s largest blockchain. On-chain data showed that tokens issued under the standard generated more than 2,100 BTC costs within a week. Runes fee data | Source: Dune Analytics, Cryptokoryo Casey Rodarmor, the same mind behind the Ordinals protocol, developed Bitcoin Runes to improve the…
Bitcoin has been struggling to break out of its narrow range and reach new highs, and there’s doesn’t appear to be much hope for the cryptocurrency’s price in the near term, according to Wolfe Research. “Bitcoin continues to demonstrate its inability to successfully get through that stubborn $70k resistance level,” Wolfe’s Rob Ginsberg said in a note Wednesday. “It’s the same area where price stalled out in 2021 before going onto fall some 50% from the peak over the next three months” — before bitcoin hit another all-time high that…
BNY Mellon, the world’s largest custodian bank and the oldest in the U.S., has recently disclosed its investment in Bitcoin ETFs. According to an SEC filing, the bank is exposed to BTC ETFs offered by BlackRock and Grayscale, underscoring the growing institutional interest in cryptocurrencies. The U.S. SEC’s approval of 11 spot Bitcoin ETFs earlier this year marked a significant milestone for American crypto investors. This decision came after prolonged investor demand for such financial instruments. ETF anticipation and subsequent approval triggered a surge in the crypto market, propelling BTC…
In the last 24 hours, bitcoin miners have faced significantly reduced earnings, with the current hashprice lingering at a significant low. Just five days ago, miners were harvesting an average of 5.105 BTC per block, between a blend of new BTC and transaction fees, following a peak in the hashprice. However, the average yield per […] Original
The spot Bitcoin ETF sector is again in the red zone, experiencing a capital outflow of $217 million on April 25. According to SoSo Value, funds did not move in five ETFs, including BlackRock’s iShares Bitcoin Trust ETF (IBIT). This is the second day in a row that the BlackRock fund has not recorded an inflow of capital. Source: SoSo Value In addition to the Grayscale Bitcoin Trust ETF (GBTC), outflows were recorded in four ETFs, including the one from Fidelity Investments and ARK Invest/21Shares. Despite the latest trend, IBIT was among…
The latest price moves in bitcoin (BTC) and crypto markets in context for April 26, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original
As of April 26, 2024, bitcoin continues to exhibit fluctuating fortunes, with the latest trading session closing at $64,095. Amid a wider range between $62,923 and $65,069 over the last 24 hours, traders are grappling with mixed signals across various technical charts and indicators. Bitcoin Bitcoin’s oscillators are predominantly neutral with the relative strength (RSI) […] Original
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