Meltem Demirors, Chief Strategy Officer of CoinShares, has expressed concerns about Ethereum’s narrative amid the emergence of competing layer-1 blockchains. Bitcoin Still Preferred for Newcomers According to Demirors, new investors are more likely to choose Bitcoin as their entry point into crypto due to its simpler narrative as “digital gold” or “money backed by physics.”…
Veteran trader Dave the Wave predicts Bitcoin (BTC) is at a critical juncture, with the potential for either a major upward surge or a significant correction. Upside Target: $65,000 Dave the Wave believes Bitcoin could break out of its current trading range and surge to $65,000. This move would be driven by a breakout from…
Resistance Level at $58,000 A respected trader known as DonAlt believes Bitcoin (BTC) is approaching a crucial resistance level at $58,000. He anticipates a pullback if BTC reaches this point. “If we get there, I think it would be for a wick mostly,” DonAlt said. “I think that would be the top for a while……
Strong Earnings Coinbase, the popular cryptocurrency exchange, saw its stock jump last week after reporting its first profitable quarter in two years. The company posted a net income of $273 million, or $1.04 per share. Analyst Optimism Owen Lau, an analyst at Oppenheimer & Co., believes Coinbase’s profitability could change the perception of the company…
Raid and Missing Crypto In 2019, a police raid seized a hardware wallet containing 81.62 Bitcoins, worth $309,000 at the time. When investigators accessed the wallet later, the Bitcoins were gone. Seed Phrase Breakthrough Investigators discovered a device with the wallet’s seed phrase, a unique recovery code. Using crypto-tracking software, they traced the transferred Bitcoins…
Market Sentiment Overload Analyst Michaël van de Poppe warns that Bitcoin’s recent surge may be followed by a 40% correction. He believes market sentiment is overheated, leading to unsustainable price increases. Strategic Investing Poppe advises short-term traders to be cautious when prices rise rapidly. He suggests avoiding buying assets that have already appreciated significantly. Long-Term…
Inflows Soar to $2.2 Billion Bitcoin exchange-traded funds (ETFs) have been on a roll, with a whopping $2.2 billion pouring into them over the past week. This surge surpasses any other ETF in the US during the same period. BlackRock Dominates BlackRock’s IBIT ETF has been the biggest beneficiary, raking in over $1.6 billion in…
FTX Creditors Sue Law Firm FTX creditors have filed a lawsuit against Sullivan & Cromwell (S&C), the law firm handling the exchange’s bankruptcy proceedings. They accuse S&C of helping FTX commit fraud. S&C’s Ties to FTX S&C’s relationship with FTX began in 2021 when FTX hired a former S&C employee as its general counsel. This…
Two cryptocurrencies linked to artificial intelligence (AI) are seeing a surge in value following the launch of a new text-to-video model by OpenAI. OpenAI’s Sora Model OpenAI, an AI research company, has introduced Sora, a model that generates high-quality videos based on text descriptions. Sora can create videos with complex camera movements, detailed scenes, and…
Check Washing Scam Targets Elderly Couple Diana and her husband, married for 70 years, were shocked to find thousands of dollars stolen from their U.S. Bank account. The money was intended for their future funeral expenses. The couple became victims of a “check washing” scam, where criminals alter the amount and recipient on checks. Frustrating…
