Outflows Hit $206 Million Digital asset manager CoinShares reports that institutional investments in crypto products saw a second week of outflows, totaling $206 million. This brings the two-week total to nearly $312 million. Interest Rate Fears Weigh on Crypto According to CoinShares, investor interest in crypto exchange-traded funds (ETFs) and exchange-traded products (ETPs) is declining…
Economist Henrik Zeberg predicts that Bitcoin (BTC) could reach $111,000 by August based on a technical indicator. RSI Indicator Points to Bullish Trend Zeberg analyzed Bitcoin’s monthly Relative Strength Index (RSI), which measures momentum. When the RSI exceeds 70, it has historically signaled a parabolic phase for Bitcoin. Currently, the RSI is at 71. Potential…
Crypto analyst Altcoin Sherpa has identified three altcoins with significant potential for growth: Wormhole (W) Cross-chain messaging protocol Launched during a challenging market Expected to experience a significant increase in value Omni Network (OMNI) Ethereum-based project Also launched in unfavorable conditions Poised for a substantial rise TNSR Governance token of NFT platform Tensor Demonstrating strong…
Bitcoin Halving: A Periodic Cut in Block Rewards Bitcoin has recently undergone its fourth halving, where block rewards for miners are halved. This event occurs every four years and reduces rewards from 6.25 BTC to 3.125 BTC. Miner Revenue Sources Miners earn revenue from block rewards and transaction fees. Block rewards have historically been the…
Scarcity vs. Oversupply Analyst Willy Woo believes the tide is turning in the battle between gold and Bitcoin. While gold has long been considered a scarce asset, advancements in mining have eroded its scarcity. Meanwhile, Bitcoin’s supply is decreasing due to the Halving events. Bitcoin’s Scarcity Advantage Bitcoin’s Halving events have reduced the daily issuance…
Payouts Begin After a long wait, Mt. Gox users are finally receiving payments. The process has been slow, but users are relieved to see progress. Challenges Remain Some users have reported problems with transfers and extended deadlines. Others are concerned about fees incurred during the redemption process. Impact on Bitcoin Market The release of 200,000…
Interest Rate Jitters Fuel Fund Outflows Last week, crypto investment funds saw a massive $206 million exodus, as investors grew anxious about the Federal Reserve’s potential interest rate hikes. Bitcoin ETFs and Market Volume Take a Dive Bitcoin ETFs in the US experienced a whopping $204.3 million in outflows. Global exchange-traded products saw a drop…
Open Interest: A Sideways Trend Ethereum’s Open Interest, the total number of derivative contracts open, has been hovering at low levels after a sharp drop during the recent price decline. This suggests a cooling down in the futures market. Funding Rate: A Shift to Negative The Ethereum funding rate, which tracks fees paid between derivative…
A New Whale Emerges A mysterious Ethereum whale has been on a buying spree, snatching up over $405 million worth of ETH since March 31st. Justin Sun Connection? The blockchain research firm Lookonchain suspects that the whale may be none other than Tron founder Justin Sun. This is based on similarities in activity between the…
Whale on the Move A massive crypto whale holding nearly half a billion dollars in Ethereum (ETH) has been withdrawing funds from exchanges. The whale, identified by blockchain tracker Lookonchain, has moved ETH from Binance and decentralized exchanges (DEXes). Whale’s Massive Accumulation In just two weeks, the whale has amassed approximately $405.19 million worth of…
