Tag: Bitcoins

Bitcoin’s ‘Great Accumulation,’ Binance.US resumes withdrawals…

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Top Stories This Week ‘The Great Accumulation’ of Bitcoin has begun, says Gemini’s Winklevoss Recently renewed optimism for an approved Bitcoin spot exchange-traded fund (ETF) is igniting “The Great Accumulation Race” for Bitcoin, according to industry pundits. Over the past week, Fidelity, Invesco, WisdomTree and Valkyrie have followed investment giant BlackRock in applying for a Bitcoin spot ETF with the United States Securities Exchange Commission, which some analysts believe is the reason for Bitcoin’s price surge in the past days. Binance.US solves USD withdrawal issues but warns it won’t last…

Biggest US Banks Place Quiet Big Bets On Bitcoin’s Largest Corporate Holder MSTR

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Summary: BlackRock, Bank of America, and Fidelity have all massively increased their holdings of MicroStrategy stock, Bitcoin’s largest corporate holder. Buying MSTR seems to be a path to BTC exposure rather than directly buying crypto’s top coin. Canada’s sixth largest bank has also spent a considerable amount buying MicroStrategy stock in 2023. The appetite for MSTR shares comes at a time when the U.S. Securities and Exchange Commission is cracking down on crypto activity in America. Major banks and Financial Institutions in the U.S. seem to be increasing their exposure…

Bitcoin’s Lack of Layer 2s Is a Blessing in Disguise

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Crypto’s first layer 2 solutions were born out of the need to scale layer 1s properly rather than creating hard forks of the base layer blockchains. And ever since, L2s have typically been marketed as the solution to scaling, faster transactions, lower fees and precursors for mainstream adoption of crypto. However, truly efficient, secure and stable scaling solutions in crypto are hard to come by. Original

Altcoins gain traction while bitcoin’s social trend falls

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied As bitcoin (BTC) started to fall from the crucial $26,000 mark, the social volume and sentiment toward altcoins have risen tremendously, according to data provided by the market intelligence platform Santiment. While the prices of some of the major altcoins — ethereum (ETH), binance coin (BNB) and XRP, for example — have witnessed notable drops over the past 24 hours, Santiment’s data shows that their social volume has risen. Moreover, bitcoin saw a tremendous social rise…

Why Bitcoin’s resistance to retesting the $25K support could be futile

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Bitcoin (BTC) has been trading in a narrow 3.4% range for the past three days after successfully defending the $25,500 support on June 10. In this time, investors’ attention has shifted to the macroeconomic area as the U.S. Federal Reserve will announce its interest rate decision on June 14. Cryptocurrencies might work independently from the traditional finance markets, but the cost of capital impacts almost every investor. Back in May, the Fed raised its benchmark interest rate to 5%–5.25%, the highest since 2007. All eyes will be on Fed’s Chair…

Bitcoin’s SOPR ratio suggests strong interest as price recovers

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin’s (BTC) price witnessed an instant fall on June 5, as the US Securities and Exchange Commission (SEC) decided to take legal action against Binance and Coinbase. The asset’s price fell from around $26,800 to $25,500 within 18 hours after the SEC’s legal case against the exchanges.  A day after, however, the broader crypto market witnessed a recovery, and bitcoin consolidated over the $26,000 mark until June 10. As the bearish sentiment grew, the asset’s price…

Why Did Bitcoin’s BTC Price Hold Above $27K Over the Weekend? Two Analysts Expect Continued Resilience

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Connors writes that despite 2023’s focus on Bitcoin’s increased dominance and surging fees amid a challenging U.S regulatory environment, Ethereum’s post-merge performance, including an unexpected non-impact of staking ‘unlock,’ increased staking demand, and realized deflationary promise with over 250k ETH ‘burned,’ is garnering market attention. Original

Why Did Bitcoin’s BTC Price Rise on Friday? BTC Hovers Over $27K as Crypto Investors Shrug Off Hot Jobs Data

Almost without exception, other major cryptos spent the day solidly in positive territory with ADA and SOL, the tokens of the Cardano and Solana smart contract platforms, recently rising more than 4% and 3.5%, respectively. Meanwhile, a bevy of small DeFi focused protocols were the big gainers of the past seven days, according to the CoinDesk Market Index, a measure of crypto markets overall performance, with Lido (LDO), Synapse (SYN), and PancakeSwap (CAKE), climbing 15%, 13%, and 12%, respectively. The CMI was recently up 1.6%. Original Source 27KBitcoinsBTCCryptodataFridayHOTHoversInvestorsJobsPriceRiseShrug CryptoX Portal