Tag: Markets

Bitcoin slumps under $50K, losing 12% as broader financial markets in turmoil

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Bitcoin experienced a sharp decline on Aug. 5, plummeting to $49,221 after maintaining a level of around $58,350 for almost two hours. At the time of writing, Bitcoin (BTC) had a daily trading volume of $79.5 billion, while its market cap had fallen to $1.04 trillion. The crypto asset is still 28.2% down from its all-time high of $73,737, reached on March 14. BTC 24-hour price chart | Source: crypto.news The drop was part of a broader market downturn that also saw Ethereum (ETH) fall by nearly 20%, from $2,695…

Markets in Freefall, Coinbase Reports Great Q2 Revenue, and More — Week in Review

The U.S. stock market experienced significant declines, and the crypto market fell by 5.82% following a disappointing jobs report, sparking concerns about a potential recession. Meanwhile, Coinbase reported $1.4 billion in Q2 revenue, highlighting growth and regulatory progress in the crypto sector. In Zambia, the central bank aims to enforce the kwacha as the sole […] Source CryptoX Portal

How the 2024 Presidential Election and Key Policy Shifts are Propelling Crypto Markets to New Heights

Former President Donald Trump, the Republican nominee and current frontrunner in the election, has emerged as a staunch advocate for cryptocurrencies. Last weekend, on July 27, he delivered a rousing keynote speech at the Bitcoin 2024 conference in Nashville. Addressing an at-capacity crowd, Trump laid out his vision for the U.S. to become the global hub for crypto innovation. He pledged to replace Securities and Exchange Commission Chairman Gary Gensler, known for his anti-crypto stance, a promise that was met with enthusiastic approval from the audience. Trump’s commitment to holding…

Harris vs. Trump: Polls Show Tight Race as Betting and Prediction Markets Favor Trump

After Kamala Harris announced her candidacy for the U.S. presidency in the 2024 election, recent polls show she is performing competitively against Donald Trump in hypothetical matchups. However, betting markets suggest Trump is favored to win, with Polymarket odds giving Trump a 63% chance over Harris’s 34%. Trump Leads Betting Odds Despite Harris’s Competitive Poll […] Source CryptoX Portal

The Evolving Efficiency of Bitcoin Markets

Low liquidity, regulatory uncertainty and speculative behavior contributes to inefficiency in crypto markets. But systematic approaches, including momentum indexes, can reduce risks to investors, says Gregory Mall, head of investment solutions at AMINA Bank. Source

CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date

The Chicago Board Options Exchange (CBOE) has confirmed the launch date for Spot Ethereum ETFs, revealing when five Spot ETH ETFs will commence trading in the crypto market.  CBOE Finalizes Launch Date For Spot Ethereum ETFs On July 19, the CBOE released a new issue notification on its official website concerning the launch of Spot Ethereum ETFs trading. According to the notification, five Spot ETH ETFs will begin trading on the Chicago Board Options Exchange on July 23, 2024, pending regulatory effectiveness. Previously, analysts, including Bloomberg Senior ETF analyst, Eric…