Market Recovery On Monday, the Hong Kong Securities and Futures Commission (SFC) approved Spot Bitcoin and Ethereum ETFs for trading. This long-awaited decision has sparked a surge in cryptocurrency prices. Bitcoin’s Rebound Over the weekend, the crypto market crashed, pushing Bitcoin below $60,000. However, the SFC’s announcement reversed this trend, driving Bitcoin back towards $67,000….
Recent Drop in Open Interest Bitcoin’s Open Interest, a measure of derivative contracts, has recently seen a significant decline. This means that investors are closing or liquidating their positions. Overheating and Volatility Historically, high Open Interest levels have indicated an overheated market, leading to increased volatility. The recent surge in Open Interest coincided with Bitcoin’s…
Fraudulent Crew Resurfaces Cryptocurrency investigator ZachXBT has exposed a connection between a notorious fraud crew and the new crypto project Leaper Finance. This crew has a history of orchestrating multi-million dollar scams on platforms like Mauritius, Kokomo, and Lendora. Leaper Finance Targeted According to ZachXBT, the same hackers have invested $1 million into Leaper Finance’s…
Memecoin on the Rise Analyst The Flow Horse predicts a bright future for the memecoin dogwifhat (WIF). Despite a current lull, he believes WIF will surge in the second half of 2024. He sees a potential “pump” after a period of sideways trading, making it an attractive buy opportunity during the summer dip. Altcoin in…
Allegations and Defamation Former JPMorgan Securities financial advisor Michael Nolan accused the bank of defamation after it filed a Form U5 with FINRA alleging he violated company policy and shared sensitive information with a client. FINRA’s Ruling After an arbitration process, FINRA ordered JPMorgan Chase to pay Nolan $250,000 in damages. The regulator also directed…
Blockchain analytics firm Glassnode believes that Bitcoin (BTC) is still in the early stages of a bull run, despite recent price declines. On-Chain Metrics Suggest Continued Euphoria Glassnode analyzed on-chain metrics and found that Bitcoin’s current price correction is relatively mild compared to previous market cycles. The firm argues that the magnitude of price drawdowns…
Coinbase, a major crypto exchange, is appealing a court ruling in its lawsuit against the Securities and Exchange Commission (SEC). The dispute centers on the definition of an “investment contract” under securities laws. Coinbase’s Argument Coinbase argues that trading digital assets does not meet the criteria of an investment contract under the Howey Test. This…
Bullish Optimism Adam Back, CEO of Blockstream, believes Bitcoin is “super cheap” right now. He predicts that its true value will be realized over time, potentially reaching $100,000. Bearish Sentiments Jeff Ross, CEO of Vailshire Capital, is more cautious. He predicts a 40% correction in Bitcoin’s price after the halving event. He advises investors to…
Since the start of the year, the crypto world has witnessed an explosion of new digital assets, with over 540,000 cryptocurrencies created in just four months. Rapid Growth According to data from CoinGecko, the total number of crypto assets has now reached 2.52 million. This is a staggering increase from the 440,000 coins that existed…
Bitcoin Bottom and Rally A seasoned trader who accurately predicted the Bitcoin bottom in 2018 believes the recent dip has set the stage for a rally to new all-time highs. Analyst Bluntz analyzed the Bitcoin chart using Elliott Wave theory, which suggests a three-part correction followed by an uptrend. Bluntz believes Bitcoin has completed this…
