Tag: Markets

JPMorgan forecasts limited downside for crypto markets: Report

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The cryptocurrency market’s recent downtrend appears to be coming to an end, as JPMorgan’s latest research suggests that most long-position liquidations have been completed. According to a Bloomberg report, analysts for the American bank estimate that the liquidations are “largely behind us.” The prediction is based on the open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME) indicating that the selling trend might soon decelerate. Open interest, which refers to active futures contracts, serves as an indicator of market sentiment and the strength of price trends.…

JPMorgan forecasts stability in crypto markets

JPMorgan predicts the ending of the recent crypto market selloff, forecasting limited downside and potential stability in the near term. The latest downturn in the cryptocurrency markets seems to be approaching a conclusion, according to a new analysis by JPMorgan Chase & Co. The firm argues that long-position liquidations in the crypto world are mostly resolved and that further sharp declines are unlikely. While still echoing, the crypto markets’ recent behavior suggests that the market’s unwinding phase is near its end. Open interest in the futures contracts of Bitcoin (BTC)…

Robinhood accumulated $3B in Bitcoin in 3 months — What does this mean for markets?

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In a swift and intriguing turn of events, a previously enigmatic Bitcoin (BTC) address managed to catapult itself to the esteemed position of the third-largest holder of BTC. As reported by Cointelegraph on Aug. 22, the address in question accumulated a staggering 118,000 BTC. While its identity has now been attributed to Robinhood, questions still linger, as the financial giant has neither confirmed nor denied these allegations. Some on-chain analysts posit that the stash actually belongs to MicroStrategy, the U.S. business intelligence and analytics software firm, which holds 152,800 BTC,…

Crypto amplified financial risks in emerging markets: BIS papers

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Cryptocurrencies like Bitcoin (BTC) have failed to reduce but rather have “amplified financial risks” in less developed economies, according to a new study published by the The Bank for International Settlements (BIS). On Aug. 22, the Consultative Group of Directors of Financial Stability (CGDFS) released a new report on cryptocurrencies, titled “Financial stability risks from crypto assets in emerging market economies.” The study was conducted by BIS member central banks within CGDFS including those in Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru and the United States. The document emphasized that…

Chinese giant’s impact on digital markets

China’s Evergrande’s bankruptcy filing reverberates in the crypto markets, triggering significant drops in major digital assets and casting a shadow over Tether’s financial backing. Once the leading property developer in China, Evergrande has recently transformed into a prominent representation of China’s property crisis.  On Aug. 17, Evergrande sought refuge from debtors by filing for Chapter 15 protection under the US bankruptcy code. This provision assists non-US companies in shielding themselves during restructuring, keeping creditors at bay.  Evergrande’s affiliate, Tianji Holdings, followed suit in Manhattan bankruptcy court. This development underscores the…

SEC Appealing XRP Ruling Isn’t Moving Markets

PayPal’s move to issue a stablecoin is putting crypto legislation back in focus in Washington, D.C. Timothy Massad, former CFTC chairman and current director of the Digital Assets Policy Project at the Harvard Kennedy School, joined the conversation. tastycrypto head Ryan Grace shared his crypto markets outlook. And, The Sandbox co-founder and COO Sebastien Borget discussed the virtual world’s latest collaboration. Source

Mango Markets, Crypto Exchange Atop Solana Blockchain, Sees Legal Bills Swell a Year After Alleged $116M Heist

According to the website Realms, there’s about $89 million in the Mango DAO treasury, but most of that is denominated in MNGO tokens, and the market for those might not be liquid enough to sell them quickly and easily. Project insiders say that the main source of funding would likely come from a $15.3 million stash of dollar-linked stablecoins within the Mango Dao treasury, primarily denominated in USDC. Source

A Blessing For Bitcoin, Crypto Markets?

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The looming prospect of a U.S. Department of Justice (DOJ) action against Binance, the largest crypto exchange, may hold a silver lining for Bitcoin and the broader markets. Even if this sounds crazy at first, there are good arguments for it. Rumors have been swirling for weeks about a potential DOJ action against Binance, a threat that has cast a long shadow over the markets, leading to increased volatility and uncertainty among investors. Yesterday’s report by Semafor has rekindled the rumor, but also gave it a new perspective, hinting that…