Skepticism from the Top Goldman Sachs’ Chief Investment Officer, Sharmin Mossavar-Rahmani, remains skeptical of cryptocurrencies like Bitcoin. She believes they lack traditional valuation metrics and are difficult to analyze for investment purposes. Unregulated Markets and Speculation Mossavar-Rahmani views cryptocurrencies as speculative investments and emphasizes the need for regulation and checks and balances in the financial…
Glassnode, a data analysis company, has revealed that a whopping 9.5% of Bitcoin’s total supply was purchased when the price was above $60,000. That’s a staggering 1.87 million Bitcoin! Short-Term and Long-Term Holders The data shows that the majority of these high-priced purchases were made by short-term holders (STHs), who bought their coins within the…
Binance Denies Executive’s Decision-Making Authority Binance has released a statement regarding the detention of Tigran Gambaryan, an executive accused of money laundering in Nigeria. The company claims that Gambaryan is a former law enforcement professional who has no decision-making power within Binance. Binance asserts that Gambaryan was hired in 2021 to improve compliance and has…
Charges Against KuCoin On March 26th, the US Department of Justice (DOJ) and Commodity and Futures Trading Commission (CFTC) sued KuCoin, accusing it of: Breaking anti-money laundering laws Operating an unlicensed money transfer business Failing to register as a futures commission merchant Impact on KuCoin Token Price Drop: KuCoin’s token (KCS) has fallen 18.9% in…
Venture capitalist Anthony Pompliano is optimistic about Bitcoin’s future, predicting a “supply shock” after the recent price surge. Record-Breaking Milestone Bitcoin has recently achieved a “really important milestone” by hitting its highest weekly, monthly, and quarterly closes. According to Pompliano, this has historically been followed by a significant increase in Bitcoin’s value. Demand and Supply…
A wealthy investor has been accumulating significant amounts of two Solana-based memecoins, according to data from Lookonchain. Major Purchases The investor recently purchased 181 million cat in a dog’s world (MEW) and 776,830 dogwifhat (WIF) within a short period. Memecoin Market At the time of writing, MEW has surged over 45% in the past day,…
Bullish Outlook Quant analyst PlanB believes Bitcoin (BTC) has the potential to surge over 400% in this market cycle. He suggests that a peak of $200,000 would be disappointing. PlanB’s stock-to-flow model, which compares the supply of a commodity to its annual production, indicates that BTC could rally by over 660% before the cycle ends….
Bitcoin Price Decline: An Opportunity to Buy Despite a recent dip in Bitcoin’s price to below $67,000, crypto analyst Michael van de Poppe sees it as a buying opportunity. He believes that the decline presents a chance to acquire BTC at a lower price. Price Corrections Are Normal Poppe emphasizes that price corrections are common…
Bitcoin ETF outflows are back on the rise, potentially affecting the cryptocurrency’s performance. Leading Outflows Grayscale’s Spot Bitcoin ETF has historically been the primary contributor to outflows due to its high fees. However, Cathie Wood’s ARK Invest has also seen significant outflows from its ETF. ARK Invest’s fund saw a record $87.5 million outflow on…
Trading Algos and Bitcoin Price Recent Bitcoin price fluctuations in Asia have been heavily influenced by automated trading algorithms that track the flow of investments into US exchange-traded funds (ETFs). These algorithms react to daily ETF flow data, leading to significant price swings during Asian trading hours. ETF Flows Impact Bitcoin Returns The introduction of…
