While bitcoin’s BTC$103,770.34 decline below $100,000 yesterday was of significant symbolic importance, it’s the $95,000 level which could prove key, according to James Check, or Checkmate, as he’s known in the online world. Nearly 57% of all dollars invested in bitcoin are now underwater at the $100,000 level, according to Check, helping to explain the
Swedish crypto asset management company Virtune announced the launch of the Stablecoin Index ETP on Nasdaq Stockholm, Nasdaq Helsinki, and Deutsche Börse Xetra. Summary Swedish-regulated asset manager Virtune has launched Europe’s first stablecoin-focused exchange-traded product, the Virtune Stablecoin Index ETP. Backed by crypto assets held with Coinbase and listed across major European exchanges, the ETP
Strategy (formerly MicroStrategy), the world’s largest Digital Asset Treasury (DAT) company, plans to never sell any of its bitcoin (BTC). However, to accomplish that feat, there are substantial annual costs to service its holdings: currently $689 million and rapidly increasing. Broadly speaking, the company, which holds $66 billion worth of BTC, has cash obligations to
Bitcoin’s latest drop appears to be driven less by leverage and more by conviction fading among its oldest holders. Summary Bitcoin price has fallen nearly 20% from last month’s peak above $126,000, trading around $102,000 at press time. Long-term holders have sold roughly 400,000 BTC, worth about $45 billion, over the past month, signaling waning
The Office of the Comptroller of the Currency faces pressure from bank lobbyists as crypto exchange Coinbase demands a fair path into regulated finance. Two of Washington’s most influential banking lobbies, the Independent Community Bankers of America (ICBA) and the Bank Policy Institute (BPI), have urged the Office of the Comptroller of the Currency to
Contrarian bulls might be taking some heart as at least one well-followed analyst is throwing in towel on his hefty year-end price target for bitcoin BTC$102,019.12. “While bitcoin’s structural investment case remains strong, cyclical dynamics have evolved,” Alex Thorn, head of research at Mike Novogratz’s Galaxy Digital, wrote in a Wednesday morning note to clients.
Wall Street bank Citi (C) said the latest bout of crypto market weakness comes despite buoyant equity performance, with October’s sharp liquidations leaving a dent in investor confidence. The Oct. 10 sell-off curtailed risk-taking not only among leveraged crypto traders but also among newer spot exchange-traded fund (ETF) investors, who have since pulled back, analysts
Bitcoin experienced a major crash, with the price falling below the psychological level of $100,000 last night. Evaluating the recent decline in Bitcoin, Singapore-based analysis firm QCP Capital examined the main reasons for the decline. At this point, QCP analysts stated that the decline in Bitcoin was due to a stronger dollar and uncertainty about
Crypto fintech company Ripple announced a $500 million strategic investment on Wednesday, at a $40 billion valuation. The firm, whose founders helped created cryptocurrency XRP, said that funds managed by affiliates of Wall Street giants Citadel Securities, Fortress Investment Group, and Brevan Howard took part in the raise. XRP’s price was trading slightly higher on
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3241.28, up 4.3% (+133.71) since 4 p.m. ET on Tuesday. Nineteen of 20 assets are trading higher. Leaders: SUI (+9.6%) and AVAX (+9.0%) Laggards: ICP (-18.1%) and BTC (+2.4%).