ETF Buyers Buck Sell-Off Trend According to Bloomberg ETF expert Eric Balchunas, ETF investors are the “strong hands” currently buying up Bitcoin (BTC) during the recent sell-off. Despite outflows from Grayscale’s ETF, Balchunas notes that these are primarily from a single entity, Genesis, converting ETF shares into spot Bitcoin. ETF Investors Driving Inflows Overall, ETF…
Top trader DonAlt has issued a warning to Bitcoin (BTC) investors, stating that the monthly chart is on the verge of signaling a bearish trend. Monthly Close Critical According to DonAlt, Bitcoin needs to close the month above $56,000 to avoid a “catastrophic” sell signal. If the monthly close falls below this level, it could…
Crypto analyst Jamie Coutts predicts that cryptocurrencies will significantly outperform gold in the coming years. Gold’s Underperformance Coutts believes that gold will not match the expected 2-3x increase in market capitalization that crypto is expected to experience in this market cycle. He attributes this to the emergence of crypto as a “new asset class.” Comparison…
Economic Factors Driving Growth Veteran investor Luke Gromen believes Bitcoin (BTC) is poised for growth over the next year due to favorable macroeconomic conditions. He cites the US government’s massive debt of nearly $35 trillion as a key factor. Gromen argues that the Fed cannot prevent inflation from rising, which will push investors towards assets…
Last week was tough for Bitcoin ETFs, with daily outflows signaling a possible shift in sentiment among institutional investors. This has impacted Bitcoin’s price, which fell to $61,370 during the week. Sustained Outflows Earlier this year, investor interest in Bitcoin ETFs soared, pushing Bitcoin’s price to an all-time high. However, these ETFs have now set…
Despite recent market dips, some investors are seeing this as a buying opportunity. Accumulation Addresses Overflowing On March 22, over 25,000 BTC ($1.6 billion) was transferred to accumulation addresses, the highest daily amount this year. These addresses are typically held by long-term investors who believe in Bitcoin’s future value. What Accumulation Addresses Tell Us Accumulation…
Bullish Predictions Cathie Wood, CEO of Ark Invest, remains optimistic about Bitcoin’s future. She recently predicted that the cryptocurrency could reach $1.5 million by 2030, surpassing her previous estimate of $3.8 million. Emerging Market Adoption Wood believes that Bitcoin’s adoption in emerging markets, such as Nigeria, is a major driver of its growth. She cites…
Iceland, known for its breathtaking landscapes and renewable energy, is making a shift. The country is now focusing on food production instead of cryptocurrency mining. Why the Change? Iceland wants to become more self-sufficient and secure its food supply. Crypto mining, while using renewable energy, isn’t as important as sectors that directly benefit Icelanders. Benefits…
Advocacy for Bitcoin ETFs Bivu Das, Managing Director of Kraken UK, believes Bitcoin ETFs are essential for establishing the UK as a crypto hub. They offer a regulated and accessible way for investors to gain exposure to Bitcoin’s price movements. FCA’s Cautious Approach However, the Financial Conduct Authority (FCA) remains cautious. In 2021, they banned…
Preparing for the Bitcoin Halving The Bitcoin halving, where mining rewards are cut in half, is approaching. To stay profitable, US miners are upgrading their equipment. Why Machines Are Leaving the US Luxor Technology reports that 600,000 S19 series mining rigs are being moved out of the US, primarily to Africa and South America. These…
