Institutional Investors Lead the Charge With the launch of Bitcoin ETFs in 2024, institutional investors have been making waves in the crypto market. Hedge funds and pensions are gobbling up Bitcoin through these ETFs, amassing a collective 250,000 BTC. Hedge Funds Fuel the Hype Financial giants like Millennium Management have invested billions in Bitcoin ETFs,…
Ethereum ETF Optimism Analyst Altcoin Psycho believes the market is underestimating the likelihood of a spot Ethereum (ETH) exchange-traded fund (ETF) being approved. He predicts a significant price surge if an ETF is approved. Memecoin Decline Altcoin Psycho also expects a shift in market focus from memecoins to blue-chip crypto projects. He believes memecoins have…
Coinbase Institutional believes an Ethereum (ETH) exchange-traded fund (ETF) is inevitable. The U.S. Securities and Exchange Commission (SEC) is likely considering it with the same rationale used to approve Bitcoin (BTC) ETFs earlier this year. The SEC had noted the strong correlation between spot BTC prices on the Chicago Mercantile Exchange (CME) and the spot…
Gavin Wood, the creator of Polkadot, believes that proof of personhood is essential for the widespread adoption of blockchain technology. What is Proof of Personhood? Proof of personhood is a mechanism that digitally verifies a person’s identity and humanity. It is a critical aspect of modern society, as it ensures that individuals are who they…
Analyst Willy Woo believes Bitcoin (BTC) is poised for a new uptrend after a period of consolidation. Profit-Taking Phase Over Woo analyzed the Spent Output Profit Ratio (SOPR), which measures whether coins are being sold at a profit or loss. He found that BTC holders have completed profit-taking near record highs, indicating that sell pressure…
Fit21: A Make-or-Break Moment The US crypto industry is on edge as a crucial vote in Washington next week could reshape its future. The Financial Innovation and Technology for the 21st Century Act (Fit21) proposes a major shift in how the government regulates digital assets. Currently, the SEC and CFTC have overlapping authority over crypto….
Whale Accumulation Surges As Bitcoin enters 2024, whales (addresses holding over 1,000 BTC) have been accumulating heavily. According to IntoTheBlock, these whales have added 250,000 BTC since the approval of spot ETFs in the US. This accumulation brings their balance close to pre-FTX collapse levels. Impact on BTC Price The whale accumulation suggests growing institutional…
Schiff Promotes Silver, Brandt Mocks Peter Schiff, a gold enthusiast, has been praising silver’s recent surge. He claims it’s a better investment than Bitcoin, which has only gained 2% compared to silver’s 20%. Bitcoin advocate Peter Brandt countered by calling Schiff’s statements attention-grabbing tactics. He suggested Schiff was overreacting to silver’s minor price increase. Bitcoin…
Genesis, the bankrupt crypto lender, has received court approval to proceed with its $3 billion repayment plan. However, Genesis’s parent company, Digital Currency Group (DCG), won’t receive any funds from the plan. DCG’s Objection Overruled DCG had objected to the plan, claiming that it would give customers more than they were entitled to. However, the…
The Consumer Financial Protection Bureau (CFPB) has announced that $384 million will be distributed to 191,000 victims of illegal practices by an online bank. Think Finance’s Illegal Loans In 2017, the CFPB filed a lawsuit against Think Finance, a Texas-based lender, for deceiving customers into repaying loans they did not owe. The loans, issued in…
