Cryptocurrency
Standard Chartered US$200K BTC forecast – says Bitcoin will surge if Trump wins election
ICYMI on crypto, the latest from Standard Chartered this week. Analysts at the bank point to two reasons a Trump win would be positive for Bitcoin. 1. Trump would ease back on regulating crypto: “While officials in the Biden administration have taken a relatively...
Australian Tax Office targeting unreported crypto profits: 1.2m accounts investigation
The Australian Taxation Office (ATO) is seeking personal data and transaction details from crypto exchanges to crack down on potential tax evaders.Finance Magnates has the details, here:Oversight of Crypto Tax Compliance ATO's notice aims to identify individuals who...
Bitcoin falls to 50% of 2024 range this week and bounces. Price back above 100 day MA
The price of bitcoin moved lower earlier this week and in the process fell below the 100 day MA in the process (blue line in the chart below currently near $60000), and toward the 50% midpoint of the 2024 trading range. That level comes in at $56,150. The low this...
Jack Dorsey’s Block says it will buy bitcoin every month with 10% of its gross profit
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin falls below $60,000 low price for the month. Low-price reached $59,982 so far
The price of bitcoin just traded below the $60,000 level to a low of $59.982. The low got close to the low for the month reached on April 19 at $59.629. For the trading month, the price is currently trading down $-11,656 or -16.35%. The end of March closing level was...
Bitcoin nears $60,000 as selling intensifies
daily bitcoinThe halving and the launch of Hong Kong ETFs (whic launched today) haven't been the positive catalysts that bitcoin bulls hoped for, at least not yet. Bitcoin is at the lows of the week, down $2750 to $60,152 today.The low so far is $60,053 as bids...
Bitcoin dips to a 10-day low as the halving bulls wait
Daily bitcoinBitcoin is under pressure today, though it's off the lows. It's down 2% to $62,750 after trading as much as $1000 lower and to the worst levels since April 19. That was the day before the halving, which hasn't been the catalyst that bulls hoped.An...
ICYMI Swiss National Bank Chairman Jordan says wary about buying Bitcoin
Swiss National Bank Chairman Thomas Jordan spoke on Friday, saying the SNB remains wary about buying bitcoins.His remarks come in response to this:The Swiss National Bank (SNB) is being urged to include cryptocurrency in their reservesie. a call from campaigners to...
Bitcoin falls 3% as the halvening gain disappears
Bitcoin is now down 3.3% on the day, or $2200, to $64,150. Virtually all of the selling has been since the start of the US session and points to some broader angst in risk assets.It climbed earlier in the week after the halvening but stalled out yesterday and is now...
US SEC is unlikely to approve spot ETH ETFs in May – price to rise regardless
Analysts at Standard Chartered had previously been tipping U.S. Securities and Exchange Commission (SEC) approval for Ethereum exchange-traded funds as soon as May. But, no longer:"We had previously expected the SEC to approve ETH ETFs on May 23," "This was based on...
Oil snippets: 1 Barclays sees upside risk, 2 Venezuala to shift sales to digital currency
A couple of snippets on oil.1. Barclays says risks to its forecast USD 90/bbl Brent fair value estimate for this year are skewed to the upside. 2. Venezuela is working to shift its oil sales to digital currency. This comes asoil sanctions are set to be reimposed....
ICYMI – Bitcoin halving took place over the weekend
The halving took place once block number 840,000 was mined. This happened early in the weekend. The halving has reduced the Bitcoin block mining reward to 3.125 Bitcoins (new Bitcoins are introduced into circulation through these mining rewards.).Finance Magnates had...
Bitcoins trades below the $60,000 level for the first time since March 5
The price of bitcoin has moved below the 38.2% retracement of the 2024 trading range at $60,314 and has also moved below the $60,000 level for the first time since March 5. The low price has reached $59,672. The low price from March 5 came in at $59,313. That is the...
3 Chinese asset managers have received initial approval to offer BTC & ETH backed ETFs
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin trades to a new session low. What next?
So much for a safe haven? Or store of value?The price of bitcoin is trading below the $64,000 level again. The low price for the day reached $63,696. Over the weekend, the price moved down to a low of $61,308. That was the lowest level since March 20. In the trading...
Bitcoin trims most of its weekend losses as Hong Kong approves spot ETF
Bitcoin 10 minuteBitcoin bids have accelerated in the past hour as it nearly erases the week-end drop that was prompted by Iran's strikes on Israel.The catalyst for the latest leg of buying is the Hong Kong approval of spot BTC and ETH applications for ETFs. It's not...
Bitcoin plunges on Middle East war fears
Bitcoin intradayIt would be havoc right now if markets were open and it might yet be when they open in less than 24 hours.Bitcoin is down more than 6% in what could be a sign of what's to come. Bitcoin finished Friday at $67,138 but it's now trading down more than...
Bitcoin extends decline to nearly 7%
Bitcoin dailyIt's an ugly one for bitcoin as it fell nearly 7% on the day to $65,239 at the lows. It's since recovered slightly as nearby support from the April low helps out.The halvening is coming up and the bitcoin bulls hope that's a catalyst around April 20 but...
US SEC targeting another crypto platform, Uniswap Labs facing potential enforcement action
The U.S. Securities and Exchange Commission (SEC) served a Wells notice on Uniswap Labs, leaving it facing potential enforcement action.A Wells notice is a letter issued by the regulator after concluding an investigation, indicating that it plans to pursue enforcement...
Bitcoin bounces to the highest levels of the day
Bitcoin dailyBitcoin fell hard on Tuesday but stabilized yesterday and has rebounded somewhat today. It was last up 3.3% to $67,959.Zooming out, the chart is wedging in a narrowing range between $60,000 and $73,000. It's right in the middle of that now and appears to...
Bitcoin taking a hit, back under $68K
Bitcoin has dropped to under US$68KETH down also, circa $3370Crypto has seen some pressure after the strong data in the US on Monday, that goes for a lot of the 'risk' complex. This article was written by Eamonn Sheridan at www.forexlive.com.
Bitcoin falls below $70,000 as selling picked up after Powell
Traditional markets are closed today but bitcoin continues to tick over. Crypto often offers a view into risk sentiment and the 2% fall in BTC today might indicate some bearishness creeping in, particularly as the selling accelerated after Powell's comments in San...
Sam Bankman-Fried sentenced to 25 years in prison
courtroom sketch of Sam Bankman Fried todaySam Bankman-Fried has been sentenced to 25 years in prison by Judge Lewis Kaplan of the Southern District of New York:"It is the judgment of the court that you are sentenced to 240 months then consecutive 60 for a total of...
Sam Bankman-Fried learns his fate today. Ominous signs in early comments from the judge
Sam Bankman-Fried arrived in court for his sentencing hearing today and could be facing what is essentially a life sentence.Judge Lewis Kaplan of the Southern District of New York will decide his fate. Prosecutors have asked for 40-50 years, which will essentially be...
Bitcoin makes a new high, and them makes a new low for the day. What next?
The price of Bitcoin whipped to a new high in the US morning session and in the process extended above the high price for the week at $71572. The high for the day was reached at $71754, but buyers turned to sellers, and the price rotated lower.The subsequent run to...
South American gold miner Nilam Resources wants to buy 24,800 Bitcoin
Crypto media is carrying the report:Nilam Resources has announced it is entering into a Letter of Intent (LOI) with Xyberdata Ltd. to acquire 24,800 bitcoin. Nilam is a precious metal mining company with principal assets in Peru.NIlam says Bitcoin is gaining...
Bitcoin climbs above $69,000 in surge
Crypto is cooking today with bitcoin having its best day in four weeks. Bitcoin appears to have broken the recent downtrend and shaken off some worries about crypto ETF inflows.Bitcoin dailyIt's not just bitcoin either as ETH rises 7% and is trading at a session...
Bitcoin downtrend triggers technical support pursuit
Bitcoin trades mostly between the 100 and 200 bar MA on 4H.Today, Bitcoin's price is experiencing a downturn, currently trading at $63,128 after reaching a low of $62,720. Throughout the trading week, the cryptocurrency's value peaked on Wednesday, touching its...
Here's a $90K Bitcoin forecast – halving, ETF flows cited
Bernstein has raised it end of year Bitcoin forecast to USD90,000 from 80K previously:expects a 7% reduction in hashrate post halving from shutdowns (from 15%)More hereBTC update: This article was written by Eamonn Sheridan at www.forexlive.com.
The SEC is waging a compaign to classify ethereum as a security – report
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Ethereum Foundation under investigation – report
There has been some quick selling in ethereum after a Coindesk report saying that the Ethereum Foundation is under investigation by a 'state authority'. The Ethereum Foundation – the Swiss non-profit organization at the heart of the Ethereum ecosystem – is under...
Ether ETFs Likely Won't Get Approved in May
Bloomberg is gated but CoinDesk have the piece up:Bloomberg analyst James Seyffart believes a spot ether exchange-traded fund won't get approved in May. Seyffart and his colleague had previously seen a 35% chance that one or more of the issuers will receive a green...
Bitcoin roars back more than $3000 from the lows
Ugly trading in Asia has led to big buys in the US.Bitcoin is up more than $3000 from the low in US trade of $62,328 and is trading at $65,681. Despite the huge pop, it's still down 2.5% on the day as the market frets about ETF inflows and the latest buy (which is...
Standard Chartered are forecasting Bitcoin to $150,000 in 2024
Standard Chartered cite the surge of inflows, "sticky' institutional flows, into exchange-traded funds (ETF) and say if inflows continue strongly then BTC will keep rising:“For 2024, the $150,000 level now looks likely” “For end-2024, we raise our long-held price...
Bitcoin corrects higher and finds willing sellers against a key hourly moving average.
The price of bitcoin as a a lot of up-and-down action today. However, a pattern that arising is sellers leaning against or near its falling 100-hour moving average. The moving average currently comes in at $68,142 and is now a key bias-defining level for the digital...
ICYMI – JP Morgan notes that Bitcoin has surpassed gold in investor portfolio allocation
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US prediction market will now accept punts on crypto price outcomes
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
El Salvador to transfer a chunk of its bitcoin to a cold wallet, store in a physical vault
El Salvador President Bukele:Bukele’s revealing El Salvador’s Bitcoin wallet address is a strong signal of confidence from the President:Its now public info and anyone can monitor it to see if its being moved and/or lent outIt also show Bukele's faith in Bitcoin...
Bitcoin, and the wider crypto complex, has sunk further during Asia time.
The only item of note to pass across the wires today was El Salvador:El Salvador to transfer a chunk of its bitcoin to a cold wallet, store in a physical vaultWhich doesn't seem to me to be reason to trash crypto at all!Nevertheless, BTC has been heavy: This article...
Bitcoin falls below $70,000, down 5% on the day
It's looking like we could get an outside day in bitcoin as it extends its decline to 5.0%. In nominal terms, it's down $3600 to as low as $69,469.The drop in bitcoin doesn't bode well for the Nasdaq but so far the NQ is only down 0.25%. This article was written by...
With the decline in Bitcoin,it is time to look at what might happen on a bigger correction
In This video, I take a look at Bitcoin from a technical perspective with a view toward a bigger correction. With the decline today and shift below the 100-hour MA, what would kill that idea of a correction lower? What would be the next targets if the short term...
Bitcoin falls 3% to session low
Bitcoin dailyBitcoin hit a fresh record at $73,803 earlier today but the enthusiasm has given way to selling as markets broadly sour. Bitcoin is down 3% on the day to $70,900 as broader markets fret about the Fed decision next week. The US dollar is substantially...
Bitcoin’s rising dominance over Ethereum
Bitcoin: Maintaining dominance in the cyptocurrency marketThis article examines recent trends in the cryptocurrency market, highlighting Bitcoin's continued leadership. It also shows crypto investors and traders how to look at how BTC price is trending vs ETH...
Grayscale has filed to launch a lower-fee Bitcoin ETF
Given the surge higher for BTC there is little doubt ETFs for it are in demand.Grayscale to offer another ETF product:to spin out a percentage of GBTC shares to seed the new Bitcoin Mini Trust productMore here if you are after what details are currently available. BTC...
Bernstein analysts "are now more convinced about our $150K price (forecast) for Bitcoin"
Bernstein analysts reiterating their price projection of USD150,000 for Bitcoin:bitcoin will ‘break out’ after the next halving eventcite booming exchange-traded fund (ETF) inflows: "We estimated $10Bn inflows for 2024 and another $60Bn for 2025. In the last 40...
El Salvador removes income taxes for money from abroad
El Salvador's Congress approved a reform to remove income taxes previously imposed on money from abroad.the aim of the change is to attract more foreign investment. Money from abroad, such as remittances and investments in companies will now be exempt from tax.Info...
ICYMI – MicroStrategy bought another 12,000 Bitcoin
MicroStrategy have been big buyers prior to and during the recent run up:Bitcoin Soars as Microstrategy Invests $155mn, halving a background fundamental tooBitcoin breaks the range to hit $53,000 for the first time since 2021MicroStrategy splashed out nearly $822...
Bitcoin hits $72,000 for the first time
It's a happy Monday for bitcoin bulls as the crypto party has resumed to push it $3700 higher to $72,140.It was a bit of a rocky road getting through the $69,000/$70,000 level but that's a big one as it clears the all-time high. It's smooth sailing and clear skies...
Bitcoin rises to a fresh record high. Touches $70,000 for the first time
Bitcoin has broken through the all-time high set on Monday and touched above $70,000.Bitcoin hit a record $69,200 on Monday then quickly fell to $58,500 but it steadied there and avoided making an outside day on the close. Since then the dip buyers have continued to...
Eyes on risk trades after the bitcoin reversal
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Deutsche Bank on what's drivng Bitcoin: "becoming increasingly institutionalised"
Deutsche Bank on crypto, and the surge of adoption. On Bitcoin:the largest driver of the rally in recent weeks was likely the SEC’s approval of a spot Bitcoin ETF on January 10thSince then such funds have seen nearly $7.9bn of inflows. Blackrock and Fidelity have seen...
Bitcoin falls below $62,000. Outside day now a possibility
Bitcoin bulls should have been popping champagne tonight, but instead a dark cloud has rolled in. This looked like a banner day for crypto as bitcoin edged above the 2021 high of $69,000 but it has turned into a race to take profits.Bitcoin is down more than 8% to...
Bitcoin drop extends to 11% in brutal turnaround. Breaks $60,000 to the downside
The new money chasing bitcoin ETFs has just found out that volatility runs both ways.Bitcoin dailyThe easy money on the way up has kicked off some heartburn today. The latest drop was a quick one and took out the $60,000 stops before hitting $59,387 at the low. It's...
Bitcoin kissing the all-time high was the kiss of death in today’s trading
Bitcoin touched an all-time high of $69,202 just over two hours ago but the brief moment of exhilaration was met with a wave of pain as sellers used the headline to take profits.The turn is something I warned about earlier. Prices have quickly fallen to $64,000 in a...
Bitcoin rises to all-time high above $69,000
Bitcoin hourlyA soft US ISM services report led to a round of US dollar selling and improving risk appetite in financial markets. That was the final nudge bitcoin needed to get above $69,000 for the first time ever.The 2021 top briefly broke in a rise to $69,200...
I made a shitload of money on this shit coin. What now?
Technical analysis meets crypto shit coins? Or HODL it all and just moon it?Just my personal opinion, traders that made 379% on a possible shitcoin, should at least consider taking Partial Profits at possible technical junctions, even if they love the moon And even if...
Bitcoin near session highs | Forexlive
The price of bitcoin is inching back toward the highway for the day at $67,621 (reached earlier today). A high price just extended to $67,577. A move above that level would have traders looking toward the $69,000 level that was the all-time high level reached on...
US authorities have delayed the BlackRock spot Ethereum ETF
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin breach is $66,000 | Forexlive
The price of bitcoin has breached the $66,000 level trading up to $66,351. The price trades at the highest level since November 15. The high price for bitcoin all-time reached $69,000 on November 10, 2021. There was a high October 21 that reached $67,087. That is the...
Bitcoin blast off continues as it rises above $65,000
Bitcoin is blazing hot as it rises another 4% to the best levels since November 2021.It's up $2834 to $65,446 with a nearly 30% in the past week alone. It's been an incredible run that started in late October at the same time as US equities turned and accelerated as...
Chinese state media warns against cryptocurrency as bitcoin rallies
China's Economic Daily is state-sponsored media, another mouthpiece for the Chinese Communist Party. Taking aim at crypto, saying that "wild fluctuations in bitcoin’s value remain the norm, and cryptocurrencies have yet to enter the mainstream".Trading crypto is...
JP Morgan says Wednesday (Feb 28) was the biggest day for net inflows to bitcoin ETFs
JP Morgan note that Wednesday was biggest day for bitcoin ETF net inflows, analysts at the firm estimated that the funds saw $675 million of net sales on Wednesday.This was the largest single day of net sales for the group, contributing to the ~$7.5bn accrued since...
JP Morgan analysts project Bitcoin/USD price will drop to $42,000 after halving
JPM in a crypto note, looking for a lower BTC price once bitcoin-halving-induced euphoria subsides after April. In brief:the halving event will reduce Bitcoin miners' rewards from currently 6.25 BTC per block to 3.125 BTCthis will negatively impact miners'...
Grayscale says not enough bitcoin to accommodate all the new demand, and so prices higher
Numbers cited show a demand / supply imbalance:US-listed bitcoin exchange-traded funds ...since the beginning of February, those products have purchased an average of 3,500-4,300 coins each day, according to three analysts who work for crypto money managers. That is...
Bitcoin continues the run lower
As opposed to the tumble yesterday which moved the price of Bitcoin from $64000 to $58800 in about 15 minute window, today there has been a more orderly fall. As outlined earlier in a post (see post here), getting below the 200 bar MA (green line in the chart above,...
Bitcoin’s price surge: Buyers leading short-term trend. Watch 200 bar MA on 5-minute chart
Bitcoin is higher on the day. The closing level yesterday was at $62,512. The current price is at $63,281.Yesterday saw a huge run up from $56,755-$64,000 at its session high. After that trend move higher, the price tumbled down to a low of $58,835 before bouncing...
Bitcoin gets its legs again as Asian bids emerge
BTC 10 minsBitcoin cut through $60,000 in US trade and then exploded higher to $63,933 before a harsh reminder of two-way volatility in an air-pocket down to $58,798.But it didn't take the dip buyers long as FOMO bids returned after three declines were unable to break...
Coinbase services restored. Eyes on bitcoin
I would tend to think that a restoration of Coinbase is bullish for bitcoin because it's a FOMO rally and that's more fuel for the fire. However, I'd also argue that the disruption isn't exactly a vote of confidence in services and some traders might prefer ETFs,...
Bitcoin breaks $60K and now it has rising to $64K, and buyers turn to sellers
Not just a few hours ago, the price of bitcoin broke above the natural resistance at $60,000 for the first time since November. Now the price as reached up to $64,000. Sellers have leaned against that level and are currently pushing price down to $61,572. Whoops and...
Bitcoin is up 57% from 2024 year lows and moves away from $60,000. Buyers in control.
The price of bitcoin has continued its search to the upside reaching a new high going back to November 2021 of $60,765. The price is now up all her 57% from the low price for 2024 reached during the week of January 22. Since the week of September 11, 2023 the price is...
Bitcoin is on fire. Is it too hot? Where does it cool?
The price of bitcoin is hot. It is red hot. From the low yesterday at $40,900, the price has moved to a high today of $57,449. That is a pretty healthy move in a short period of time. Looking the RSI, it is higher and in overbought conditions. The RSI is even...
Bitcoin climbs nearly 7% to $54,000. What’s next
Momentum is the dominant feature of markets this year and nothing has more momentum than bitcoin right now. After a 10-day break as it consolidated around $52,000, bitcoin has broken out in a big way.It's up $3400 today, or 6.7%, to $54,450. That's the highest since...
Bitcoin jumping higher again, price above US$55K
The BTC surge continues. ETH is >3200 This article was written by Eamonn Sheridan at www.forexlive.com.
Bitcoin Soars as Microstrategy Invests $155mn, halving a background fundamental too
The surge in Bitcoin in the past 24 hours or so has been attributed to buying from Microstrategy.Adam had this info on Monday US time, but ICYMI:Bitcoin breaks the range to hit $53,000 for the first time since 2021More:Microstrategy bought around $155mn of BTCbought...
European Central Bank says that Bitcoin’s “fair value is still zero.”
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Analysts warn that “U.S. Ether ETFs Could Exacerbate Concentration Risk”
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin tries the upside and downside but seems stuck to $52,000
Bitcoin is essentially flat today but the post-holiday price action wasn't subdued. Earlier, it looked like it could be breaking the week-long range to the upside as it touched $52,980. However the big round number held and the sellers appeared as broader tech sank....
Bitcoin surges above $50,000, setting new high going back to December 2021
The price of bitcoin has moved above the $50,000 level for the first time since December 2021. The high price reached $50,204 so far.Looking at the daily chart, the price is also about the 61.8% retracement of the move down from its all-time high. That level comes in...
Bitcoin breaks the ETF spike high in seventh straight day of gains
Bitcoin dailyBitcoin has broken the spike high on ETF launch day and is now gunning for $50,000.It's rallied for seven straight days and is up another 4.5% today, or $2100. The sell-the-fact trade on the ETF launch led to a 20% drop but it's quickly made up the...
North America’s largest public crypto miner is looking to expand in Africa
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin climbs to $45,500 in a return to pre-ETF levels
bitcoin dailyThe bitcoin ETF launch has been a disappointment but hope spring eternal in the crypto space and the halvening is keeping bulls in the game. Around the end of April, the number of bitcoin mined daily will halve and bulls expect that to cause a supply...
A forecast for Bitcoin to hit $500K after April’s halving, then $5mn by 2032
There are a bazillion crypto/BTC forecasts about, 99.9% for much higher, of course (it's a bit of a wild unregulated market).Near term forecasts focus on the upcoming 'halving':Halving happens every four years for bitcoin its when crypto miners' reward is cut in half...
UK authorities seized 61,000 BTC (around US$1.8bn) re investment scam operated in China
UK authorities seized 61,000 BTC valued at approximately £1.4 billion (or $1.78 billion) related to an investment fraud that operated in China, the Financial Times reported. The FT is gated but other outlets have picked it up. How is BTC involved in all this?Zhimin...
UK police holding $2.6 billion in bitcoin in money laundering trial
The FT reports from a trial in London where Jian Wen, 42, is accused of laundering bitcoin on behalf of her former employer, who is a fugitive from Beijing authorities.The report says that in 2018, UK police seized four separate devices containing more than 61,000...
US DOJ charges 3 people in a $1.9bn cryptocurrency scam
The US Department of Justice has filed criminal charges against two people and the guilty plea of a third person for orchestrating a worldwide $1.9 billion cryptocurrency Ponzi fraud scheme known as HyperFund, among other names. The US Securities and Exchange...
Bitcoin erases to weekly decline in return to $42,000
Bitcoin has extended gains to 5% today and touched $41,999.The $2000 gain today is the first genuinely good day for bitcoin since the US ETFs were launched on January 11 and it touched $49,000. Since then the inflow numbers into bitcoin ETFs have been disappointing,...
JP Morgan predict easing selling pressure on Bitcoin as Grayscale profit taking stabilizes
JP Morgan says in a note on Thursday that the bulk of the profit taking selling in Grayscale’s bitcoin ETF (GBTC) is likely to have been completed and that selling p[pressure on BTC should now ease. JPM had previously projected around US$3bn would depart GBTC as...
The US will sell over $130 million in bitcoin linked to the Silk Road forfeitures
The US has filed public notification that it'll be selling over $130 mn in bitcoin seized as part of Silk Road money laundering and drug trafficking crimes.notice lists two lots of bitcoin that the government plans to sellfirst is roughly 2,800 BTC for around $129...
Deutsche Bank survey shows a third of respondents expect Bitcoin under $20,000 by end 2024
Tuesday reports on a recent survey by Deutsche Bank:a third of respondents to the survey expect BTC to drop below $20,000 by the end of 2024around 10% see Bitcoin stabilizing between $20,000 to $40,000about 25% see levels above $40,000---I wonder how much of the dire...
The sell-the-fact trade continues in bitcoin; Ether plunges
Bitcoin is now down more than 20% from the peak reached just minutes after the new slate of ETFs began trading. Bitcoin chartSupport at $40,000 held several times last week but broke yesterday and the selling has continued today.So far, the ETFs have only proven to be...
Crypto – Ethereum spot ETF unlikely to get US SEC approval before May says JP Morgan
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
ETF buyers caught holding the bag as bitcoin nears $40,000
Bitcoin is down $2000 today or 4.5% as the selling after the ETF debuts continues. Bitcoin rose as high as $49051 in the hour after the 11 US bitcoin ETFs were launched but a 'sell the fact' trade quickly emerged and it's been downhill ever since.Today bitcoin held at...
JP Morgan says there is plenty more downside for Bitcoin – more 'sell the fact' to come
Everyone was screaming "sell the fact!" on the ETF approval news. Its been ongoing:ETF buyers caught holding the bag as bitcoin nears $40,000JPM says there is more downside pressure ahead for BTC. Last week JPM guesstimated that there was up around US$3bn in GBTC...
Morgan Stanley says paradigm shift (pro- Bitcoin and CBDCs) threaten US dollar’s dominance
A note from Morgan Stanley emphasised what it referred to as “a paradigm shift in the global perception and use of digital assets”, citing:106 million people holding BitcoinBitcoin ATMs available in over 80 countries spot Bitcoin exchange-traded funds (ETFs) approved...
Bitcoin falls 2.5% as flows continue to point to a disappointing ETF launch
It's beginning to dawn on some people that spot ETFs won't be a white knight for the bitcoin market.We're midway through the fourth day of bitcoin ETF trading and the results aren't anywhere near the +$2 billion the bitcoin bulls were touting in the first 48 hours....
Bitcoin rebounds but ETF volumes paint a murky picture
Here are the trading volumes on IBIT, which is Blackrock's bitcoin ETF and is destined to be the winner of the low-cost spot race:Day 1 - 38m sharesDay 2 - 23m sharesDay 3 - 13.65m shares with 35 mins of trading to goThe moderate volatility in bitcoin today might be...
SkyBridge’s Scaramucci sees bitcoin over US$170,000 by 2025
Posting this as an ICYMI on a forecast for leading crypto Bitcoin from hedge fund SkyBridge's Anthony Scaramucci.He says that "If bitcoin's at $45,000 on the halving, where it roughly is right now, it'll be $170,000 by mid- to late 2025"."Wherever the price is on the...
Why the bitcoin ETF inflows are a huge disappointment
On Thursday -- just 30 minutes after the launch of the first US spot ETFs -- bitcoin touched a 21-month high of $49,051.The peak of the hype in the first half hour is exactly what you would have expected but in the two days that followed, it's fallen 12%, raising some...
Bitcoin extends decline to 6%. What’s next
The ETFs came and yesterday's volume numbers were big but not as big as I thought they would be for some of the most-hyped financial products ever created. Now the pain trade is hitting with bitcoin down nearly 6%.I also wonder -- if on-exchange ETF buyers are now the...
How has the ETF story impacted Bitcoin price action so far this year?
Bitcoin (BTC/USD) hourly chartThere is no doubt that there has been plenty of anticipation ahead of the approval of Bitcoin ETFs. That has helped the cryptocurrency skyrocket all the way up from $34,000 at the end of November to a brief high of $49,000 this week.But...
How the race for volumes in bitcoin ETFs is shaping up
Trading has been underway for 90 minutes in the Great ETF Race of 2024 and it's already clear who the winner will be.The IBIT ETF from Blackrock has seen 21.65 million shares traded, far more than Fidelities FBTC at 9.01 million, though the dollar-value gap is...
Bitcoin briefly hits $49,000 as it rides the ETF hype
BTC 30 minsThe bitcoin bulls are having their moment as it climbs 6% on the hype from the first day of trading. Market watchers will be seeing how much money flows into each of the bitcoin ETFs and how much stays in the Grayscale GBTC Trust now that it's convered into...
Bitcoin near the highs of the week as max bitcoin ETF hype is set to hit
Bitcoin 30 min chartBitcoin is up nearly 4% and at the highs of the day at $47,655.Money is rolling in with the ETF hype-machine peaking as trading is set to start at the bottom of the hour. The question is whether this will be a sell-the-fact trade or not. One spot...
SEC says the content from the approval tweet was not drafted by them
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin ETFs approved — SEC document
Everyone is being careful with this but the SEC website this time has a new document here.It ends with:IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Exchange Act,87 that the Proposals (SR-NYSEARCA-2021-90; SR-NYSEARCA-2023-44; SR-NYSEARCA2023-58;...
It's not exactly fireworks after bitcoin ETFs are approved
The biggest surprise of all might be if bitcoin does nothing following the approval of 11 spot ETFs. Presumably they will begin trading tomorrow but the market isn't exactly making fireworks.Bitcoin is now up 0.2% on the day at $45,500.Maybe market participants are...
SEC head Gensler says does not approve or endorse bitcoin; a speculative, volatile asset
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
BTC/USD price rising, Who let the dogs out?
We finally got the news on the approval (that wasn;t fake):Bitcoin ETFs approved -- SEC documentEven though the SEC boss didn't like it:SEC head Gensler says does not approve or endorse bitcoin; a speculative, volatile assetThe Bitcoin price didn't do a whole lot on...
Bitcoin price rises as signs mount that an ETF approval is looming
bitcoin 10 mins chartAll signs continue to point to an imminent approval of a bitcoin ETF.The latest is that Fidelity's trading app shows tickers for the prospective spot ETFs, though they're not yet available to trade. Other reports are highlighting a Cboe filing...
Today’s economic calendar is light on data but a pair of speakers will be notable
It's January tenth and that's about the time of year when the turn-of-the-year flows dry up and we can get back to the business of trading fundamentals. Unfortunately, there aren't many fundamentals coming today.The lone economic indicators coming up today are US...
SEC says Bitcoin ETFs have NOT been approved
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Eight reasons why a bitcoin ETF will be a ‘sell the fact’ trade
A bitcoin ETF hasn't been approved yet but all signs point to an announcement on Wednesday and trading as soon as Thursday.This will lead to something of a frenzy on CNBC with advertisers of the 11 prospective ETFs vying for supremacy in what will surely be a...
The SEC will never live this down
The SEC twitter account being hacked on the eve of the expected ETF announcement is a massive blackeye for the organization that's supposed to be in charge of investor protection.The risk is that this disaster delays the actual ETF approval. I can't imagine it would...
Twitter is investigating the hack of the US SEC account that led to Bitcoin turmoil
The Securities and Exchange Commission says this tweet was result of a 'compromise' of its account:Chair of the SEC Gary Gensler tweeted out moments after that it was a hack:Law enforcement is on the case, the SEC says it wasn't an inadvertent staff tweet and sticking...
Twitter confirms @SECGov was compromised, did not have two-factor authentication enabled
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Why the spot bitcoin ETF will be approved
Spot bitcoin ETF approvals are a done deal, the only question is how the market will react.The co-founder of crypto manager Valkyrie Steven McClurg today said the SEC will approve the ETF sometime after the market closes on Wednesday with trading beginning on...
SEC Gensler's Last Stand on crypto Investments amidst Bitcoin ETF approval expectations
Amidst the fevered expectations of imminent approval for spot Bitcoin ETF's Securities and Exchange Commission Chair Gary Gensler was posting on Twitter Monday urging caution:said crypto investments may be ‘exceptionally risky’ warned that companies offering crypto...
Bitcoin hits $47,000 as ETF fever builds
I ran a poll earlier today and the results so far have shocked me.I would put the odds at 99% and would have thought that a community of market watchers would have put it at least at 85%.Perhaps as the news continues to hit and bitcoin grabs more headlines, there will...
Y'all set to spend another week muttering about imminent spot bitcoin ETF approval?
We've been sitting on the edge of our seat for months on this now. Last week, same old.Thursday:Is this confirmation that a spot Bitcoin ETF has been officially approved?Friday:SEC asked bitcoin ETF issuers to submit final versions of key docs as soon as todayA...
SEC asked bitcoin ETF issuers to submit final versions of key docs as soon as today
I continue to believe a bitcoin ETF is a done deal with a launch likely next week.The latest report comes from Bloomberg and cites four people familiar who say the SEC told several issueers that they should submit a final version of a key listing document as soon as...
Multiple social media sources suggest imminent approval of bitcoin spot ETF applications
Multiple social media sources, along with news wires, are saying the U.S. Securities and Exchange Commission (SEC) will be approving bitcoin spot ETF applications for multiple firms.Unnamed sources, but the items say these sources are "extremely close to the...
Is this confirmation that a spot Bitcoin ETF has been officially approved?
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin slammed lower – sell the Spot ETF approval fact?
I've been banging on about a likely sell of BTC in my posts earlier:Multiple social media sources suggest imminent approval of bitcoin spot ETF applicationsI've been speaking with someone who is suggesting that when the news is finally confirmed it'll be a 'sell the...
The SEC is meeting with exchanges today to review comments from Bitcoin ETF issuers
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin takes a dive after laughable speculative report that SEC will reject bitcoin ETF
10 mins bitcoin chartThere's no end to the stupidity in crypto but this is a new one.There's a report doing the rounds from Matrixport that speculates the SEC will reject the bitcoin spot ETF this month. It's written by Markus Thielen, their head of research.It's...
Bitcoin has hit its highest since April of 2022
Bitcoin is having a Happy New Year, making a new high from all the way back in April of 2022:Weekly candlesLower rates on the horizon have been supporting all sorts of risk trades. Halving coming not doing it any harm either:Bitcoin, rising in price to over USD50K due...
Buyers are stuffing bitcoin in their stockings
The hype train around a bitcoin ETF continues to build and that's helped to to shrug off a recent pullback to rise back above $44,000. Until the ETF starts trading (or at least until it's announced) I can't see a reason to sell bitcoin. That pull is even stronger...
Goldman Sachs on the scooping up of crypto by institutions in 2023
Goldman Sachs popped out a report last week in which they argued that 2023 was the year the cryptocurrency markets evolved further and were adopted by institutions:“The institutionalization of the market was most evident in the derivatives market”, with the growth of...
JP Morgan Forecasts Ether to Outperform Bitcoin in 2024: Protodanksharding boost for ETH
JP Morgan are forecasting Ether to outperform Bitcoin in 2024.Suggesting this will be due to underperformance by BTC:the bitcoin halving event in 2024 is likely already factored into the current market price (I posted on this here)the impact of the halving on Bitcoin...
ICYMI – US regulator (SEC) will take a “new look” at spot bitcoin ETF applications
Comments on Thursday from US Securities and Exchange Commission Chair Gary Gensler interview with CNBCagency's "new look" at applications for a spot bitcoin ETF had been taking recent court rulings into consideration. "We had in the past denied a number of these...
Seychelles-based KuCoin cryptocurrency "exchange" banned in New York, fined $22m
KuCoin has been forced to block customers in New York and pay a $22 million fine.The NY Attorney General took action against the firm for failing to register with the state before letting investors buy and sell cryptocurrencies on its platform. "Crypto companies...
North Korean hackers steal $3 Billion: An alarming trend in cybercrime targeting crypto
North Korean-backed state hackers have stolen an estimated US$3 bn over the last six years (since January 2017).I've seen similar reports from time to time so this is not fresh news. Not good news either, especially for those having funds stolen. More here.US$1.7...
Bitcoin extends decline to 9%
Bitcoin dailyBitcoin has now erased most of last week's gain.Prices of bitcoin have dropped 8.9%, or $4000 today to $40,550. The selling started in Asia without a catalyst and has continued today. Some eyes were on long options bets that were liquidated.A bitcoin spot...
Bitcoin dropping sharply back under US $43K
Crypto taking a hit at the start of the week here in Asia time zone:Not seeing any obvious catalyst just yet.ETH down 6% or so also. This article was written by Eamonn Sheridan at www.forexlive.com.
Pensions giant invests US $20m into a UK crypto derivatives trading platform
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
JP Morgan CEO Dimon urges crypto ban: ‘I’d close It down’
JP Morgan CEO Jamie Dimon spoke in the US Congress at a Senate hearing on Wednesday, alongside seven other big bank CEOs.Dimon has been a long-time opposer of crypto "I've always been deeply opposed to crypto, bitcoin, etc."and he reiterated his stance, suggesting it...
Japan considers proposal to exempt companies from tax on unrealized crypto gains
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Bitcoin skyrockets above $43,000, as bullish rally prospers
Bitcoin is extending above its 50% midpointThe price of bitcoin is continuing its run to the upside with an extension above the $43,000 level. The high price today has reached $44,011. The current price is trading at $43,353.Technically the price has extended above -...
Bitcoin nears $40,000 in solid weekend rally. ETF approval remains the catalyst
Enthusiasm is quietly building around bitcoin as risk trades improve and interest rates fall. Liquidity is improving and the industry appears to have cleaned up following the fines and Binance and the collapse at FTX.Bitcoin is up $792 to $39,577, which is the highest...
Bitcoin trades to the highest level since May 2022
The price of bitcoin has extended to the highest level since May 2022. The high price has reached $38408Bitcoin moves above and away from the 38.2% retracementLooking at the daily chart above, the price of the digital currency moved above the 38.2% of the move down...
Crypto industry has spent US$20mn on lobbying so far in 2023: Coindesk Report
Coindesk reports that the crypto industry has spent US$20 million on crypto lobbying in 2023 so far. Compared with US$22 million last year and a total of just over $56.3 million since 2019.A quick video summary has been posted if you are interested. This...
Binance Holding pleaded guilty. Agrees to pay $4B to US authorities
Binance holdings pleaded guilty, agrees to pay over $4 billion to US authoritiesDOJ says by Nancy chief Changpeng Zhao has pleaded guilty to criminal chargesCharges involve violations of Bank secrecy act, failure to register as a money-transmitting business and...
Bitcoin has fallen as low as circa $35.8K
News overnight that the U.S. Justice Department (DOJ)Binance founder and CEO Changpeng Zhao pleaded guilty to criminal charges brought by the U.S. Department of Justice.The DOJ is seeking over $4 billion from Binance as part of a proposed resolution of its probe.-The...
Bitcoin surges as Javier Milei triumphs in Argentina's Presidential Election
Bitcoin has jumped higher after Javier Milei wins Argentina's presidential election.Milei wins Argentina's presidential election, Massa concedesOne of Milei's key policy plans is to end the Argentine peso and adopt the US dollar as the country's currency. Which would...
Bitcoin nears the highs of the year in a 5% rally
Bitcoin dailyBitcoin fell yesterday in a move that was strangely at-odds with the raging rallies in risk assets elsewhere. Some of the selling was because of confusion and bad reports about ETF filings. In any case, BTC found support ahead of the early-November lows...
Bitcoin wasn’t invited to the party
The waiting game continues for a bitcoin ETF and it appears as though some bulls are losing patience, or taking profits. Bitcoin is down 3.7% today, or $1348 to $35,040 in the second day of selling. There have been several false reports of bitcoin ETFs and an approval...
BlackRock's Ethereum ETF plan confirmed in Nasdaq filing
BlackRock's plan for an ETF that holds Ethereum's ether (ETH) has been confirmed in a filing by Nasdaq (the US exchange, this is where BlackRock is looking to list the product). BlackRock is, of course, awaiting regulatory approval. This article was written by Eamonn...
Bitcoin has moved higher again today – ETF excitement cited
The price of crypto has been underpinned in recent weeks by the expectation that approval for Bitcoin exchange traded fund (ETF) applications by the US Securities and Exchange Commission is imminent. Or at least in the days and weeks ahead. Analysts are speculating...
Bitcoin moves back above the $35,000 level and makes a break above trendline resistance
The price bitcoin is breaking above a topside trendline on the hourly chart (see red numbered circles),and is testing the high price from November 5 at $35,330. The high price just reached $35,337. Move above that level and opens the door for further upside momentum....
Bitcoin reverses lower after touching a fresh 18-month high
Risk assets are rallying today and the US dollar is falling. That's normally a good mix for bitcoin but after touching the best levels since May 2022, bitcoin has reversed lower.The high was $35,197, which is a handful of dollars above last week's ETF-optimism...
Report that crypto funds had largest single week of inflows in over a year: ETF optimism
CoinShares data being cited for the reports that crypto-focused funds had the largest single week of inflows in over a year. This comes amidst the feverish optimism that a U.S. spot bitcoin exchange-traded fund will soon get approved by the US Securities and Exchange...
Standard Chartered-owned crypto firm launches in Hong Kong: Zosia
UK banking firm Standard Chartered owns Zodia Custody, the crypto security firm.Zodia is launching its services in Hong Kong.Julian Sawyer, CEO of Zodia, said that Hong Kong was a market where demand for crypto is driven by institutions, rather than retail. Zodia...
Sam Bankman-Fried takes the stand
Sam Bankman-Fried is testifying today. We got a preview of what he will say yesterday in a hearing with the judge but the jury excluded. His lawyers are working on an 'advice of council' defense where he claims that everything he did that was wrong was based on the...
Blackrock spot BTC ETF ticker has reappeared on the DTCC list
The BTC ETF from BlackRock (BlackRock's iShares Spot Bitcoin ETF) had been listed on the Depository Trust & Clearing Corporation (DTCC ) directory earlier in the week but disappeared from it on Tuesday.Its disappearance was noted widely on social and crypto...
Bitcoin consolidates gains after ETF ticker fiasco
Bitcoin (BTC/USD) daily chartIt has been quite the week so far for Bitcoin, after it surged past the $30,000 mark and took more or less one shot to clip the $35,000 mark. Since then, gains have been capped but not after a bit of a fiasco with the ETF ticker on the...
Bitcoin higher again, above US$32K
I posted yesterday on some bullish BTC thoughts:Morgan Stanley says “crypto winter” may be in the past. Optimistic for an April 24 halvingAnd since then we've had some news:Bitcoin is up 4.7% today and there is all kinds of speculation about a bitcoin ETFBitcoin...
Grayscale court ruling sends Bitcoin ETF approval back to SEC
Bitcoin is up 4.7% today and there is all kinds of speculation about a bitcoin ETF.It sounds like a done deal, though the courts sending it back to the SEC slows it down a tad (did anyone really think the courts would order them to covert it to an ETF...
Bitcoin trades to the highest level since mid July
Bitcoin extends to new highsThe price of bitcoin has extended to a new session hide in the process is trading at the highest level since July 14. The price I just reached $31,307. The current price is trading at $31,199 up 4% on the day.Looking at the daily chart, the...
Morgan Stanley says “crypto winter” may be in the past. Optimistic for an April 24 halving
This from last week ICYMI (like I did). Morgan Stanley's Wealtyh management unit writes that insight into cyrpto pricing next moves can come from its 'four “seasons” of cryptocurrency’s historical trading cycle'.now is a good time to search for insights from past...
ICYMI – SEC’s Gensler says still considering Bitcoin ETF proposals
Securities and Exchange Commission Chair Gary Gensler spoke in an interview with Bloomberg TV:says regulators are still weighing proposals for Bitcoin ETFsstill speaking with firms seeking spot Bitcoin ETFswe have not one but multiple I think it's eight or 10 filings...
Coinbase shares to surge – the Bitcoin ETF false news was a dress rehearsal for real thing
Analysts at Barclays say the market response to the false news from Monday on the BTC ETF approval is guidance on what is to come once real approval has been granted:we continue to see limited P&L benefit to Coinbase(but) we view this (the response to the false...
Cointelegraph apologizes again for posting “unverified” Bitcoin ETF approval news
ICYMI (probably a good thing!):Fake report? Bitcoin gives it all backCointelegraph have apologized. Earlier today, during routine coverage, Cointelegraph’s social media team posted a message on X without prior editorial approval stating that the United States...
Bitcoin surges more than 8% as Coin Telegraph reports SEC approves spot ETF (fake news)
Bitcoin is up 8% in a quick rally to the upside. Most of the gain has come in just the past few minutes. There has been speculation about a bitcoin spot ETF and now Coin Telegraph reports that the SEC has approved the iShares spot bitcoin ETF.Bitcoin dailyThe shorter...
Crypto, stop “bitches & moans about regulation”, needed because of “criminals & scumbags”
Australia's Assistant Treasurer Stephen Jones outlined plans to regulate crypto and digital assets earlier. Long-time crypto fan, Australian businessman Mark Carnegie, founder of MHC Digital Group, a digital assets platform, says the higher regulation is needed:… we...
Coinbase to miss Q3 revenue estimate by 10%, analyst blames low crypto volatility, volumes
Mizuho says that Coinbase will miss current consensus third-quarter revenues by 10%, citing low trading volumes. Crypto volatility has been relatively low this year, partially due to regulatory uncertainty. “We expect dwindling volumes…combined with an expected...
Crypto: Ripple obtains full license to operate in Singapore
Four months ago, in June, the Monetary Authority of Singapore granted an initial in-principle approval. Now have a full license to act as a major payments institution. Ripple will continue to provide regulated crypto payment services in Singapore.Should be a bullish...
Crypto market stalls as ethereum futures ETF debut flounders
There was some crypto hype late last week the spilled over into early trading today with some impressive gains. The driver was likely the launch of an ether futures-backed ETF launching today from VanEck under the symbol EFUT along with a handful of others.Let's just...
Bitcoin jumps above $28,000 | Forexlive
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Ethereum climbs 3% on talk of ETF launches
Ethereum is at the highs of the day, up 3.1% to $1644.The catalyst is chatter that the SEC is trying to accelerate the launch of futures-based ETFs before the anticipated government shutdown on Monday. If a shutdown occurs, just 8% of SEC staff will stay on the job.A...
Some chatter about that Ethereum futures ETFs could start trading next week
Bloomberg opinion piece from one of their crypto analsyts, says the US regulator, the Securities and Exchange Commission (SEC) wanted to quicken the launch of Ether futures ETFs: “They want it off their plate before the shutdown” Said approval could come on Friday...
Guilty plea on charges of misappropriating funds from investors promised big crypto return
News crossing of a guilty plea from a former investment banker who was charged in April with misappropriating funds from investors he wooed with promises of big returns from cryptocurrency trading.From the article (link here for more):Russell told prospective...
FTX receives court approval to liquidate crypto assets
Earlier this week, the fall in the price of bitcoin was tied back to bankruptcy disclosures from FTX showing that it had nearly $7 billion worth of assets, including about $560 million in bitcoin.Today the court approved the liquidation of holdings. The dollar value...
Coindesk says the CEO of Binance US has left the firm, one third of workforce has been cut
Binance.US CEO Brian Shroder has left the crypto exchangeThe company has eliminated one-third of its workforce.Coinbase citing a spokesperson for the firm. Binance hold themselves up as being on the side of the little guy, not like establishment firms. But, they still...
Bitcoin falls to the lowest since June
The risk mood is beginning to sour and an early tell was selling in bitcoin. The sales have accelerated in the past 15 minutes and bitcoin broke the recent range low of $25,269. The next level to watch is the June low of $24,750.Bitcoin dailyIn March, bitcoin briefly...
Texas paid bitcoin miner Riot US$31.7 million to shut down during heat wave in August
CNBC carry the report on a nice little earner for crypto miner Riot Platforms.During the crypto boom of 2021, Riot Platforms was raking in cash from bitcoin mining. Now the company is losing so much money that it’s counting on energy credits from selling power back to...
Coinbase will launch a new lending platform that’s aimed at large institutional investors
Crytocurrency exchange Coinbase Global has told Reuters that its launching a digital asset lending platform.to be aimed at large institutional investorsReuters adds that Coinbase has raised US$57 million for its new crypto-lending platform according to a regulatory...
Bitcoin stumbles 2%, nears the August lows. What’s next
BTC dailyIt's been a volatile week for bitcoin and it's ending on a poor note. Bitcoin is down $570 or 2.2$ to $25,445. That's just above the August low of $25,350.Bitcoin popped on Tuesday after the SEC lost a court case brought by Grayscale and its improper...
ICYMI – Bitcoin jump as Grayscale wins lawsuit against the SEC
The news on Tuesday US time that:A D.C. court ruled that the SEC improperly rejected the Bitcoin spot ETF. The court ordered the petition for review be granted and the commission's order be vacated. This means the SEC was wrong to reject the application for a spot...
Bitcoin surges to the upside. What are the technicals telling us now?
The price of bitcoin surged higher on positive results from a lawsuit between Grayscale and the SEC. The ruling may open the door for ETF's on bitcoin. We will see.The run to the upside to the price above its 200-day moving average at $27,472, but short of its 38.2%...
CryptoQuant data shows that Bitcoin trading volume is at its lowest in more than 4 years
CryptoQuant is a provider of on-chain and market data analytics for cryptocurrency investors.From their latest:Bitcoin’s trading volume hit its lowest level in almost five years this month analysis of CryptoQuant data from both spot and derivatives exchanges shows the...
ICYMI – JP Morgan see limited downside for crypto markets over the near term
A report from JPM late last week says the downside shift for Bitcoin looks to be ending. JPM cite their analysis of open interest in Chicago Mercantile Exchange’s (CME) bitcoin (BTC) futures: shows the unwinding of long positions appears to be in its end phase rather...
Here’s a $148K forecast for Bitcoin – Halving set up
A forecast for a much higher BTC price from 'Panetra Capital'."Bitcoin has historically bottomed 477 days prior to the halving, climbed leading into it, and then exploded to the upside afterwards,""The post-halving rallies have averaged 480 days – from the halving to...
Bitcoin sags as Grayscale verdict awaited
Cryto traders are watching the clock today and waiting for an 11 am (or just before) ruling on the Grayscale Trust vs SEC case in the D.C. Circuit Court. It won't necessarily come at that time, or today at all but rulings typcically come on Tuesdays and...
Crypto exchange Coinbase has taken an equity stake in stablecoin company Circle
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Don't discount technicals when analyzing Bitcoin. A look at the technicals driving BTC/USD
The price of Bitcoin this week, finally cracked below its 100-day moving average (blue line in the chart below) for the 1st time since June 21. The price lows over the last few weeks have found support buyers leaning early against that 100-day moving average level,...
Bitcoin falls to fresh daily lows, falls 7%
It's not a pretty picture in bitcoin as today's decline has extended to 7%, or nearly $2000.Two levels to watch: $25,000 and the June low of $24,750. If those break, there isn't much down to $20,000. This article was written by Adam Button at...
No Grayscale vs SEC decision today
Eyes are on the US court of appeals for the D.C. Circuit for a potential decision in the bitcoin spot ETF case with Greyscale suing the SEC for approval. Some were pointing to slate of decisions today set for 11 am ET but that came and passed with four decisions and...
Coinbase says it has system issues but funds are secure. Meanwhile BTC extending lower.
Coinbase has made a statement saying its systems are experiencing issues and they are working on a fix. Say that funds remain secure.Meanwhile, Bitcoin is extending the losses it had Thursday:There are rumours that SpaceX has sold its stake in BTC. The Wall Street...
Chatter about that US regulator is set to approve Ether-Futures ETFs
Bloomberg (gated) on a cryptocurrency tailwind if true. The US Securities and Exchange Commission (SEC) is poised to allow the first exchange-traded funds based on Ether futures, a major win for several firms that long have sought to offer the productsThe regulator...
Coinbase has been given approval to operate a futures trading service
Coinbase has been granted regulatory approval from the National Futures Association (NFA), a CFTC-designated self-regulatory organization, to introduce crypto futures to its US institutional customers.The service will operate alongside the firm's existing spot crypto...
Bitcoin sags as the wait continues for an ETF approval
Earlier today, Eamonn highlighted how today marked 160 days since the spot bitcoin ETF was filed by Grayscale. That's the usual outside timeline for approval but this is far from a usual case. That means the timeline is unclear but the final deadline is October 5,...
The Grayscale Bitcoin ETF case decision could come as soon as Tuesday US time
The gist of the case is the US Securities and Exchange Commission (SEC) repeatedly rejecting Crypto investment firm Grayscale's proposal to convert the Grayscale Bitcoin Trust into an ETF. An approved ETF would mean crypto assets trading directly on traditional U.S....
Bitcoin trades to the lowest level since March 17
Bitcoin falls below necklineThe price of bitcoin has moved to a new low for the day, week, and month and traded at the lowest level since March 17. Looking at the 4-hour chart, the price this week also fell below a neckline of a head and shoulder formation. On the...
Coinbase says UK & Canadian Customers unable to sell or withdraw to Paypal (fix underway)
Coinbase reports:We're experiencing increased cancelled transactions for PayPal. Your funds are safe while our teams work on a fix.The firm has updated the alert:The issue has been identified and a fix is being implemented.---BTC update, a relatively quiet weekend for...
North Korea has stolen US$721 million in Japanese cryptocurrency assets since 2017
Japanese media, Nikkei, has the report, citing a study by a U.K.-based Elliptic, that tracks and identifies money transfers on the blockchain where cryptocurrency is traded.North Korea is using cyberattacks to target Japanese cryptocurrency assetsHacker groups...
Cryptocurrency trading should be regulated as gambling say UK MPs
The UK's Treasury Committee has published its report on how cryptocurrencies should be regulated.The report said that while there may be some benefits of certain forms of cryptocurrency and in blockchain technology more widely, it noted that the market was currently...
Binance says its suspending AUD fiat services – looking for alternatives
> Binance says its suspending AUD fiat services - looking for alternatives Eamonn Sheridan Thursday, 18/05/2023 | 03:27 GMT-0 18/05/2023 | 03:27 GMT-0 Binance Australia tweet:AUD PayID deposits were suspended and bank transfer withdrawals will also be impacted "due...
Japan to introduce strict anti-money laundering rules on cryptocurrency transactions
> Japan to introduce strict anti-money laundering rules on cryptocurrency transactions Eamonn Sheridan Wednesday, 24/05/2023 | 23:24 GMT-0 24/05/2023 | 23:24 GMT-0 New regulations re crypto and money laundering are due in Japan from June 1. Details are here:----...
SEC sues Coinbase for operating as an unregistered broker
From the complaint:SEC says Coinbase has operated as an unregistered broker since at least 2019Crypto assets that Coinbase makes available put Coinbase's operatings 'squarely within the purview of the securities laws'Coinbase's staking program includes five stakeable...
Bitcoin and the rest of the crypto market shrug off lawsuit against Coinbase
Bitcoin 10 minsBitcoin has nearly erased the rout from yesterday's SEC charges against Binance and today's suit against Coindesk.It's an impressive turnaround after some troubling news, particularly accusations that Binance was wash trading.What's happening here?...
Binance has suspended US currency deposits – cites SEC law suit
Bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather,...
Ethereum falls to the lowest since March as the regulatory onslaught continues
Those who have been around the forex market for awhile have seen this before: When the SEC wants someone out of business, they win. The US retail FX market was cleaned out by regulators who can always find some kind of deficiency. In crypto, the early wild-west nature...
Bitcoin rises to near 2 week high. Trendline and 100 day moving average targeted above.
Bitcoin moved toward downward sloping trendline and 100D MAThe price of a bitcoin is trading to near 2 week highs. The high price it going back to June 7 extended to $27,388. The high price reached today just traded at $27,268.Looking at the daily chart, the downward...
Bitcoin trades above $28000 to highest level since May 29. Back above 100 day MA.
Bitcoin above the 100 day MAThe run to the upside in Bitcoin is continued with the digital currency now above its 100-day moving average at $27,619. The price also extend above a topside general trend line at $27,388. The high price just reached $28,149. The current...
Bitcoin eases back below $30,000 after custodian deal sours
Bitcoin 10 minsSome modest selling has crept into bitcoin, bringing the price back below $30,000 after BitGo revealed that it terminated a merger deal with rival custody firm Prime Trust.After considerable effort and work to find a path forward with Prime Trust, BitGo...
Binance ’s EUR fiat deposit partner, Paysafe, will no longer provide services to exchange
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Reserve Bank of New Zealand is ramping up its monitoring of stablecoins and cryptoassets
The RBNZ says there are significant risks and opportunities from stablecoins and other private money innovationsbut also significant uncertainties about how the sector will develop and where the optimal balance will liecaution is needed, which also reinforces the need...
Bitcoin tumbles below the $30,000 level after SEC news. What next technically?
The SEC headlines on bitcoin sent the digital currency sharply to the downside. The price which reached a high of $31,260 moved down to a low of $29,508. In the process, the pair fell below what was a floor between $29,820 and $29,941. That area will now be eyed as...
Standard Chartered have pumped their 2024 bitcoin forecast to as high as US$120,000
Crypto analysts at Standard Chartered have boosted their Bitcoin forecast:to USD 50,000 in 2023and to as high as USD 120,000 in 2024 (from $100K in April, analysts at the bank now say this call has a 20% upside)Citing:"Increased miner profitability per BTC (bitcoin)...
UK financial regulator shuts down 26 illegal cryptocurrency machines
The UK's Financial Conduct Authority shut down 26 machines across the country for illegally offering cryptocurrencies.The action came after a member of the public paid in a thousand GBP into a crypto ATM in an attempt to buy cryptocurrencies, but no cryptocurrency or...
Selling pressure takes bitcoin below $30,000 but the range-bottom holds
Bitcoin hit at session low in the past hour, briefly trading below $30,000. It has since bounced back above that level though as the range since mid-June holds.Bitcoin jumped from $26,000 to $31,500 after Blackrock and several others filed applications to list bitcoin...
ICYMI: SEC Chair Gensler said the crypto market is “rife with fraud, rife with hucksters”
US Securities and Exchange Commission Chair Gary Gensler spoke on Thursday with Bloomberg TV on its "Bloomberg Markets" show.crypto is highly speculativeinvestors should not assume they're getting the protections of the securities laws, even though the securities laws...
ICYMI – Binance Japan launches crypto services with with 34 tokens/virtual currencies
ICYMI, noews from Binance, the world’s largest cryptocurrency exchange.It announced the launch of Binance Japan, offering 34 coins, including Bitcoin, Ether, Solana and Dogecoin. “By offering regulated exchange services in Japan, we’re hoping to bolster the...
SEC now ready to consider ETH futures – report
The SEC has indicated its readiness to publicly consider the latest ether futures filings, according to two sources cited by Blockworks. The report noted that the readiness to consider doesn't necessarily mean they will be approved.ETH dailyThe report adds to the...
Mad admits to being the original Bitfinex hacker
The original Bitfinex hacker has finally been identified. Ilya “Dutch” Lichtenstein, a resident of New York, has admitted to being the original Bitfinex hacker. The coins were worth $71 million at the time and the value eventually grew to $4.5 billion.Lichtenstein and...
PayPal launches stablecoin | Forexlive
PayPal USD has launched a stablecoin PYUSD. The coin is is issued by Paxos Trust Co and fully backed by US dollar deposits, short-term Treasuries and similar cash equivalents, the San Jose, California-based payments company said on Monday. It’s pegged to the dollar...
Fresh banking troubles provide a fresh bid for bitcoin
Bitcoin dailyBitcoin is in the midst of its best day in almost a month. It's up 2.3%, or $752 to $29,925 as it threatens to retake $30,000 for the first time in a week. The catalyst for the buying appears to be the Moody's downgrade of several medium-sized US banks...