Tag: Market

Bitcoin and Ether Show Relative Resilience Amid Widespread Losses: CoinDesk Indices Market Update

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Will History Repeat Itself Or Are We Heading For A Market Meltdown?

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Bitcoin stands at the forefront, with its upcoming halving event sparking excitement and uncertainty among investors. As the countdown to Bitcoin’s fourth halving narrows to roughly three days, market dynamics have taken a tumultuous turn, with significant implications for the digital asset’s price trajectory. Deciphering BTC’s Halving Patterns: Insights Into Pre-Event Price Behaviour While the Bitcoin market has been on a decline over the past week, A CryptoQuant analyst has recently highlighted a recurring pattern in Bitcoin’s price dynamics observed before each halving cycle. This pattern entails a significant price…

Monday’s Market Action Sees $36.7 Million Outflow From US Spot Bitcoin ETFs

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On Monday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced another round of outflows, shedding $36.7 million since the outflows on Friday. Additionally, after the close of Monday’s market, Grayscale’s Bitcoin Trust (GBTC) offloaded 2,524.1 bitcoins valued at $159.25 million. Blackrock’s IBIT and Fidelity’s FBTC Lead in Bitcoin Accumulation as GBTC Sells Off Since the trading […] Original

BlackRock’s Bitcoin ETF draws $73m amid sluggish market

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BlackRock’s Bitcoin ETF was the only spot Bitcoin fund in the United States to record inflows on Monday, setting it apart from other ETFs that reported no inflows or experienced outflows. According to data from Farside Investors, the iShares Bitcoin Trust (IBIT) recorded net inflows of $73.4 million on April 15, albeit a decrease from the $111.1 million observed the previous day. This contrasted sharply with the other eight ETFs, which, aside from Grayscale’s offering, reported no inflows during the same period. The inflows into IBIT were unable to counterbalance…

This Exchange Altcoin Is a ‘Dark Horse’ Crypto Play Amid Good Market Structure, Says Trader

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A closely followed crypto analyst and trader is turning bullish on the native asset of a layer-1 blockchain. Pseudonymous analyst Loma tells his 303,500 followers on the social media platform X that BNB, the native asset of the BNB Chain, is displaying strength from both the technical and fundamental viewpoints. “I think [BNB] is a live dark horse for majors. Structurally looks good in both USD and BTC pairing. Negative funding since it’s typically hedged against spot holdings for fee reductions by larger whales. Free of SEC (U.S. Securities and…

Crypto expert explores bear market possibility as Bitcoin halving draws near

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Analyst and co-founder of CMCC Crest Willy Woo predicted the beginning of a crypto bear market should Bitcoin fall below $59,000. According to Willy Woo, if the price of Bitcoin (BTC) falls below the support level of short-term holders at $58,900, the market risks entering a bearish phase. Here’s how the markets look to me. $58.9k STH support, if this breaks we move to a bear market. CVD selloff has peaked, so a phase of “up” next. CVD measures market orders (impatient buy/sells). Longer term: still weeks away from a…

If China Doesn’t Invade Taiwan, Prediction Market Bet Pays 8%

A contract asking users to bet on the outcome of the 2024 Presidential election—which has over $110.8 million staked, easily a record for crypto-based prediction markets—saw “yes” shares for Biden winning rise 1 cent, to 45 cents, and “yes” shares for Trump dip by a penny to 45 cents. A share pays out $1 if the prediction turns out correct, so the market is signaling each candidate now has a 45% chance of winning. Source

Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High

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Toncoin (TON) has defied recent market turbulence, reaching a new milestone with its price surging to an all-time high of $7.0. This nearly 25% increase has propelled Toncoin to become the eighth largest cryptocurrency by market cap, surpassing Dogecoin (DOGE) with a market cap of nearly $25 billion. Source: CoinMarketCap Toncoin: Powered By Strategic Partnership Toncoin’s recent momentum can be attributed in part to its partnership with HashKey, which has bolstered investor confidence. Since March, Toncoin has sustained considerable momentum, witnessing a surge of approximately 35% in the past week…