Tag: Investors

XRP cryptocurrency jumps as investors hope Ripple will win SEC case

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A visual representation of the digital cryptocurrency, XRP. S3studio | Getty Images The XRP cryptocurrency soared on Wednesday as investors grew hopeful that Ripple, a company closely associated with the token, would win its prolonged legal battle with the U.S. Securities and Exchange Commission. The token was worth around 45 cents at about 8 a.m. ET, according to data from CoinGecko, up over 11% in the last 24 hours. It was earlier trading up as much as 20%. Traders pointed to a supplemental notice submitted by Ripple on Monday which…

Bitcoin holds $28K due to spot buying, but institutional investors are still selling

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Bitcoin’s (BTC) price broke above the February 2023 highs of $25,200 after U.S. inflation data was in consensus with the market expectation. The potential fallout of the global banking system further promoted Bitcoin investment as a non-correlated global hedging instrument similar to gold in March. The correlation between gold and BTC has been rising since the start of the month. Correlation coefficient between BTC and gold. Source: TradingView However, institutions have become net sellers of Bitcoin in 2023, which raises some red flags. Bitcoin whales, holding between 10 and 10,000…

Investors shelter in short-term Treasuries, reducing Bitcoin’s chance of rallying to $30K

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The price of Bitcoin (BTC) surpassed $28,000 on March 21, but according to two derivatives metrics, traders aren’t very ecstatic after a 36% gain in eight days. Looking beyond Bitcoin’s stellar performance, there are reasons why investors are not fully confident in further price upside The recent rescue of Credit Suisse, a 167-year-old leading Swiss financial institution, is proof that the current global banking crisis might not be over. On March 19, Swiss authorities announced that UBS had agreed to acquire rival Credit Suisse in an “emergency rescue” merger in…

Belgian FSMA surveys crypto investors before taking on new ad regulation authority

The Belgian Financial Services and Markets Authority (FSMA) will have new powers to supervise virtual currency advertising when a new regulation comes into force on May 17. In preparation for its new role, the agency commissioned a survey of investors. The new regulation will have three aspects. First, it will require accuracy and clear language, with no statements on future returns of value. Second, there will be a mandatory warning on all advertising: “Virtual currencies, real risks. The only guarantee in crypto is risk.” In addition, a “broader warning should…

Investors Pull Coins From Bitcoin Funds

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Bitcoin funds are bleeding coins even as U.S. bank failures fuel expectations of an early Federal Reserve pivot in favor of liquidity easing. Usually, if the Fed doesn’t raise rates aggressively like it has been doing, risky assets like bitcoin benefit, but the opposite is occurring with the bitcoin funds. Data tracked by ByteTree Asset Management shows the number of coins held by close-ended funds, spot and futures-focused exchange-traded funds in Europe, the U.S. and Canada has declined by 16,560 BTC ($409 million) this month, reaching a 17-month low of…

Bitcoin BTC Price Slides Below 24.5K as European Banking Woes Spook Investors

The largest cryptocurrency by market capitalization dropped to $23,946 at one point before regaining ground to recently trade at $24,502, roughly flat over the 24 hours. But that was still well off BTC’s highs of the previous day when it soared past $26,000 after the release of a mildly upbeat consumer price index (CPI) inflation data for February. The 6% CPI improved on the previous month’s reading and offered investors looking for more monetary policy dovishness hope the U.S. Federal Reserve would at least temporarily stop its recent diet of…

Bitcoin BTC Price Holds Near $25K as Investors Remain Upbeat About Inflation Data, Fed Rate Hikes

Ether was changing hands just above $1,700, about where it stood on Monday, same time. The second largest cryptocurrency has roughly matched BTC’s upswing this week. Other major cryptos spent most of Tuesday healthfully in the green before flattening. APT, the token of layer 1 blockchain Aptos was recently up more than 14%. CRO, the native crypto of crypto exchange Crypto.com, rose about 6%. The CoinDesk Market Index, a measure of the crypto market’s overall performance, climbed 2.4%. Source

Apollo among Investors Eyeing $73.6 Billion of Loans Held by SVB

In other SVB-related news, the Financial Group, which was the holding company of SVB, is exploring ways to sell off its other units. Private equity company Apollo Global Management is reportedly interested in the book of loans held by the now-collapsed Silicon Valley Bank (SVB). The bank has made several headlines over the past week due to its debacle that affected the entire US banking sector. Regulators have taken over SVB, and investors, including Apollo, have started eyeing the company. Apollo among Suitors Seeking to Buy Pieces of SVB According…