Tag: Bitcoin

Bank Clients Just Dipped Their Toes Into Bitcoin (BTC) ETFs, but Q4 Could See a FOMO Spike

Other top-tier banks/wealth management operations, including Morgan Stanley, Cantor Fitzgerald, Royal Bank of Canada, Bank of America, UBS and HSBC, didn’t add to or subtract much from their positions. A new entrant was Australian investment bank Macquarie Group, which purchased 132,355 shares of IBIT worth $4.8 million. Wells Fargo, which has a very minor stake in the ETFs, held most of its shares in the Grayscale Bitcoin Trust (GBTC) and Grayscale Bitcoin Mini Trust (BTC). Source

Satoshi-era Bitcoin wallet moves 2,000 BTC for the first time since 2010

A wallet that first received coins in the early years of Bitcoin has moved 2,000 BTC for the first time since 2010. The Bitcoin (BTC) wallet, which falls under the so-called “Satoshi-era wallets”, moved the BTC worth nearly $180 million to U.S.-based crypto exchange Coinbase on Nov. 15. According to Lookonchain, on-chain data shows the whale hodled for 14 years. That means the miner held on from when Bitcoin price hovered below 10 cents. Now, with rapid adoption, the coins mined when BTC creator Satoshi Nakamoto was still active online…

Bitcoin mixer operator sentenced to 3 years for laundering over $300m

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Larry Harmon, an Ohio resident, has been sentenced to three years in prison for laundering more than $300 million worth of Bitcoin through his darknet service, Helix, according to Bloomberg. The platform operated a tool designed to obscure the origins of cryptocurrency transactions, enabling users, primarily criminals, to move funds undetected, according to the U.S. Justice Department The service was active from 2014 to 2017, during which Harmon partnered with major darknet marketplaces like AlphaBay to process illegal transactions involving drug sales, stolen data, and counterfeit goods. Unlicensed money-transmitting Harmon…

Bitcoin Volume Crashes 27% As Price Falls, What Does This Say About The Decline?

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Este artículo también está disponible en español. The Bitcoin volume has experienced a severe crash amidst its initial price momentum, falling by approximately 27% and triggering a subsequent decline in the value of the pioneer cryptocurrency. This significant drop in volume has caught the attention of market participants, as a crypto analyst is discussing the mechanics and significance of a decline in Bitcoin and whether it indicates a Distribution or Accumulation phase.  Bitcoin Price Falls As Volume Plummets 27% Data from CoinMarketCap has revealed that the daily trading volume of…

As bitcoin wraps up big week, case is made for $200,000

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Bitcoin is closing in on $100,000 for the first time, but could still double after that, according to BCA Research. “After its recent surge, premised on the more ‘bitcoin friendly’ candidate winning the U.S. presidency, we can expect some near-term retracement — as was the case in April this year,” analyst Dhaval Joshi wrote in a report on Thursday. “On a multiyear horizon though, bitcoin’s structural uptrend is intact and will ultimately take it to $200,000+.” That is due to the belief that, similar to gold, bitcoin is a “non-confiscatable…

Thumzup approves $1m of Bitcoin as treasury reserve asset

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Thumzup Media Corporation, a social media marketing company based in Los Angeles, announced its entry into the crypto space with plans to purchase up to $1 million in Bitcoin.  The company, which helps brands pay users to promote them on platforms like Venmo and PayPal, aims to diversify its treasury holdings with this move. CEO Robert Steele explained in a company release that Bitcoin’s rising institutional acceptance and the introduction of Bitcoin (BTC) exchange-traded funds have solidified its role as a viable financial asset.  The company believes that Bitcoin’s finite…

Bitcoin Spot Is King – STH Selling Pressure Expected To Be Absorbed By ETFs

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Este artículo también está disponible en español. Bitcoin has experienced a whirlwind of volatility following its recent all-time high of $93,483 set on Wednesday. Over the past few days, the price has oscillated between this record level and a low of $85,100, indicating the potential onset of a consolidation phase before the next major move. Traders and investors are now closely monitoring whether BTC will stabilize or continue its upward trajectory. Related Reading Key data from CryptoQuant suggests that selling pressure may increase quickly, primarily driven by speculative traders looking…

This OG Bitcoin (BTC) Investor Just Turned $120 Into $178M

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The trend of more of the older wallets that held bitcoin from its early days coming out of the woodwork could continue, as they might be able to bag massive profits at current price levels. Such moves could limit any additional price upside, even though some traders are still optimistic that bitcoin could reach $100,000—a key psychological level of resistance—by year-end. Original

Bitcoin miner Greenidge Generation wins legal battle in New York

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Greenidge Generation Holdings Inc. will continue operating its Dresden, New York, facility following a legal victory against the state’s Department of Environmental Conservation. According to a Nov. 14 press release, the New York Supreme Court ruled in favor of Greenidge, overturning the Department of Environmental Conservation’s denial of a Title V Air Permit. Judge Vincent Dinolfo deemed the Department of Environmental Conservation’s actions “arbitrary and capricious” and criticized its interpretation of the Climate Leadership and Community Protection Act. The court found that the DEC failed to provide a rational basis…