Browsing:BTC

Scott Melker, a crypto analyst, has highlighted a significant influx into Bitcoin following the approval of a BTC Spot Exchange-Traded Fund (ETF).
4 months ago 1 min read

Over $550 billion could flow into crypto market, says analyst

Scott Melker, a crypto analyst, has highlighted a significant influx into Bitcoin following the approval of a BTC Spot Exchange-Traded Fund (ETF). Melker projected $550 billion in Bitcoin ETF investment in a social media post on X (formerly Twitter), representing only 0.5% of total assets managed by Registered Investment Advisors (RIAs). Melker stated that RIAs currently manage assets worth $114 trillion, and Bitcoin’s total market capitalization is $860 billion. According to the post, if even half of RIA-managed assets were to flow into a Bitcoin ETF, the total amount could be around $570 billion. Some cryptocurrency analysts, including Bloomberg Intelligence’s

The US SEC is warning investors against succumbing to FOMO in their investment decisions
4 months ago 1 min read

The US SEC is warning investors against succumbing to FOMO in their investment decisions

As the crypto community awaits the US SEC’s final decision on Spot Bitcoin ETF applications, which is set to be announced on January 10, the regulatory body has issued a cautionary report, warning investors against succumbing to FOMO in their investment decisions. The report, which was published on January 6 in an X post by the SEC’s Office of Investor Education and Advocacy, sheds light on the negative consequences of succumbing to FOMO and offers advice on how to resist or overcome this emotional state. Furthermore, the report provides guidance on mitigating investment risks and navigating market volatility. “Say ‘NO

Over $150 Million Poured Into Crypto Funds In 2024
4 months ago 1 min read

Over $150 Million Poured Into Crypto Funds In 2024

According to a recent CoinShares report, the first week of 2024 witnessed a significant milestone in crypto investments, with a notable influx of $151 million into investment products in this sector. The significance of this over $150 million increase in inflows was highlighted by James Butterfill, Head of Research at CoinShares, especially in light of Grayscale’s ongoing legal battle with the US Securities and Exchange Commission (SEC). Since the case’s inception in October 2022, these inflows have totaled $2.3 billion, accounting for 4.4% of the firm’s total managed assets. Despite the lack of a spot exchange-traded fund (ETF) launch in

Spot Bitcoin ETF Approval Will Send BTC Price To $80K
4 months ago 1 min read

Spot Bitcoin ETF Approval Will Send BTC Price To $80,000, Says Forbes

Forbes recently published a column anticipating a significant increase in Bitcoin’s price, projecting an increase of up to $80,000 following the Securities and Exchange Commission’s (SEC) approval of Spot Bitcoin ETFs. According to MarketWatch, crypto analysts at AllianceBernstein, one of the largest investment firms, believe that the US SEC’s approval of Spot Bitcoin ETF applications could result in a significant increase in Bitcoin’s price, reaching $80,000 by the end of 2024. AllianceBernstein analysts Gautam Chhugani and Mahika Sapra highlight several factors that could contribute to this potential surge. Aside from the approval of Spot Bitcoin ETFs, they point to the

BlackRock buys $10 million worth of Bitcoin
4 months ago 1 min read

BlackRock buys $10 million worth of Bitcoin, BTC trading at $46,888

The crypto market is buzzing with excitement as reports indicate that on January 5, BlackRock made a significant investment, purchasing $10 million worth of Bitcoin. This move comes ahead of the approval of its Spot Bitcoin ETF, which is expected to have a volume of more than $2 billion. Bitcoin fell to $42,000 last week as a result of Matrixport research highlighting the perceived low likelihood of ETF approvals. Because of the much-anticipated decisions on Bitcoin ETFs, the crypto market is currently engulfed in a cloud of Fear of Missing Out (FOMO). This has prompted even large investors, dubbed “whales,”

A holding wallet recently received nearly $1.2 million in Bitcoin (BTC) from the infamous North Korean hacker unit
4 months ago 1 min read

A holding wallet receives nearly $1.2 million in Bitcoin (BTC) from the North Korean hacker group

In an interesting development, a holding wallet recently received nearly $1.2 million in Bitcoin (BTC) from the infamous North Korean hacker unit, Lazarus Group. This transaction has piqued the interest of cybersecurity professionals and blockchain experts, as it is one of the group’s largest transactions in the last 30 days. The Lazarus Group’s wallet was involved in two transactions totaling 27.371 BTC, according to Arkham, a blockchain research organization. This move coincides with the potential approval of a spot Bitcoin ETF in the United States, and investors anticipate increased volatility in the aftermath of the SEC’s decision. Around 3.34 BTC

Indian crypto firms are making a strategic move to Dubai in order to avoid India's stringent digital currency tax regulations.
4 months ago 1 min read

Indian Crypto Firms Move to Dubai for Better Regulations, Escaping India’s Heavy Taxes on Digital Currencies

Indian crypto firms are making a strategic move to Dubai in order to avoid India’s stringent digital currency tax regulations. The taxing environment in India has posed challenges for crypto businesses, prompting a shift to Dubai, which has more favorable regulations and business conditions. The taxation of digital currencies in India has become a barrier to the growth of crypto firms, prompting them to look for opportunities in Dubai, which is known for its supportive regulatory framework. The financial ties between India and the UAE play a role in this migration, with the UAE accounting for a significant portion of

An anonymous individual paid a whopping $64,000 to embed 9 megabytes of mysterious data into the Bitcoin blockchain
4 months ago 1 min read

A mystery person spends $64,000 to Add unknown data to Bitcoin blockchain

An anonymous individual paid a whopping $64,000 to embed 9 megabytes of mysterious data into the Bitcoin blockchain, causing the crypto community to buzz with speculation and theories. Ord.io reported on January 6 that more than one Bitcoin was used to generate 332 entries of ‘raw binary data.’ This data’s nature and purpose are unknown, prompting attempts to decipher it using artificial intelligence. Even advanced AI tools, however, struggled to decipher the meaning behind the encoded data. The Ordinal Show’s Leonidas suggested that the data could be encrypted, adding another layer of complexity to its interpretation. The mystery grows as

Any US resident making crypto transactions exceeding $10K will soon have to report them to IRS
5 months ago 1 min read

Any US resident making crypto transactions exceeding $10,000 will soon have to report them to IRS

A recent development in the crypto landscape is causing a stir among users and advocates alike. The Infrastructure Investment and Jobs Act, passed by the US Congress, introduces a reporting provision requiring individuals involved in crypto transactions exceeding $10,000 to report them to the Internal Revenue Service (IRS) within 15 days. While this move aims to enhance transparency, it brings about a series of challenges and uncertainties. The Infrastructure Investment and Jobs Act, effective January 1, 2024, mandates that anyone receiving over $10,000 in crypto transactions must report the details to the IRS within 15 days. This includes providing personal

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday
5 months ago 2 mins read

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday

The crypto market is experiencing increased uncertainty as the US Securities and Exchange Commission (SEC) nears a decision on spot Bitcoin Exchange-Traded Funds (ETFs). While initial expectations were positive, recent expert analyses have added a note of caution. As the market speculated on the possible outcomes, Bitcoin’s value dropped 6.5% in minutes, falling from $44,400 to $41,500. This drop saw over $1 billion worth of crypto liquidated from the market. Bloomberg’s ETF expert, Eric Balchunas, tempered the general optimism by estimating that the ETFs have a 10% chance of being approved by the January 10 deadline. His assessment is based

According to Matrixport, the SEC in the United States will likely reject all Bitcoin ETF proposals in January.
5 months ago 1 min read

Matrixport Predicts SEC Bitcoin ETF Rejections, Causing Bitcoin Price Drop

According to Matrixport, a crypto financial services firm, the Securities and Exchange Commission (SEC) in the United States will likely reject all Bitcoin ETF proposals in January. This ominous forecast has caused Bitcoin’s price to fall, highlighting the market’s sensitivity to news and forecasts. According to Matrixport, the first Bitcoin ETF approval may not occur until the second quarter of 2024. The firm’s unsettling prediction caused a significant drop in Bitcoin’s value, which recently fell to $42,500. According to Matrixport, the SEC may find the existing spot Bitcoin ETF applications lacking, potentially resulting in a further drop to the $36,000

The crypto market witnesses over $135 million in liquidated short positions yesterday
5 months ago 1 min read

The crypto market witnesses over $135 million in liquidated short positions yesterday

Recent optimism about the potential approval of U.S.-based spot bitcoin ETFs has fueled a surge in bitcoin’s price, which briefly surpassed $45,500 in the last 24 hours. Significant liquidations occurred in the market, particularly in short positions, totaling over $135 million across various centralized exchanges. Over $82 million in Bitcoin positions were liquidated on centralized exchanges, with around $74 million being short positions. In the crypto market, liquidations occur when traders’ positions are forced to close due to a lack of funds to cover losses, depleting their original margin or collateral. According to CoinGlass data, the entire crypto market saw

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