Bitcoin pierced the $80,000 mark overnight, reaching as high as $81,300 before pulling back to roughly $79,000, according to chart analysis from Verified Investing chief market strategist Gareth Soloway. The pullback has raised a question for traders. Does this rally confirm a new bull market, or is Bitcoin simply testing resistance in an ongoing bear
BlackRock’s spot Bitcoin ETF, IBIT, has processed more than $5 billion in conversions from direct Bitcoin holdings, according to a Bloomberg report. This marks a sharp increase from the $3 billion recorded in October last year, signaling a growing trend among investors to move digital assets into regulated exchange-traded products. Why Investors Are Moving From
The US Treasury has formally brought digital assets into the financial sector’s preparations for quantum computing threats. On Aug. 24, the US Treasury launched its Quantum-Readiness Task Force, with one of three workstreams dedicated to digital assets and emerging-technology risks. The other tracks cover broader post-quantum cryptography adoption and third-party vendor readiness. Treasury Secretary Scott
After a year of policy battles in Washington between bankers and the crypto sector, the banks’ state associations have announced they intend to launch a new bank-run blockchain network to facilitate financial innovations, including smart payments, tokenized deposits and stablecoins. Thirty-nine of the state banking associations signed on to the “BankChain Alliance” with an aim
Blockchain financial infrastructure firm tZERO Group has entered a strategic partnership with the Sui network, announcing a direct integration that will allow Sui-based projects and institutional issuers to access a suite of regulated services, according to FinanceWire. The collaboration is designed to bridge the gap between traditional finance and blockchain by providing token issuance, transfer
Bitcoin’s quantum-computing risk is real, but the technology needed to threaten the cryptocurrency’s cryptographic security remains far from practical, according to BitGo co-CEO Mike Belshe. During his appearance on Fox Business, Belshe said there are currently no quantum computers capable of posing an immediate threat to Bitcoin. However, he did acknowledge that the industry is
Bitcoin is no longer oversold but there’s still time to buy, according to Fairlead Strategies’ Katie Stockton. Speaking on Tuesday to CNBC, the financial research firm’s managing partner said that Bitcoin cleared its 200-day moving average back in May, meaning that a potential breakout could be coming. Bitcoin started rallying last week on news that
Nasdaq-listed StablecoinX’s debt restructuring covers $6.879 million of defaulted former-SPAC notes with about $344,000 in cash and two warrant tranches representing approximately 7.62 million potential Class A shares, according to an Aug. 24 regulatory filing. The deal shifts roughly $6.535 million of near-term repayment pressure away from cash and into a claim on future equity.
In brief Crypto-margined Bitcoin futures now make up about 12% of open interest, down from nearly 100% around 2019–2020. Bitcoin rebounded from around $57,000 to a weekly close near $79,175, today up about 1.88%. In the past 24 hours, $570.08 million in positions were liquidated, with shorts hit harder than longs. Bitcoin futures traders have
While uncertainty surrounding the US Federal Reserve’s (FED) monetary policy persists, Boston Fed President Susan Collins has delivered a new interest rate message that is of great interest to the markets. In an article published on the official Boston Fed website, Collins stated that if there is no evidence that inflation is genuinely continuing to