Bitcoin

Wells Fargo’s disclosure of a sizable investment in Bitcoin ETFs suggests that institutional interest in cryptocurrencies is strong. The price of Bitcoin has recently dropped, according to data, even as institutional investments in the space increase. The third-biggest bank in the US, Wells Fargo, has just revealed how heavily it is involved in the cryptocurrency market, namely through Bitcoin Exchange-Traded Funds (ETFs), which was echoed by popular crypto trader Ash Crypto. A current filing with the U.S. Securities and Exchange…

The post Bitcoin Price Fails To Hold Its Price Above The Crucial Support Level, Resulting In A Price Correction! appeared first on Coinpedia Fintech News The BTC price had successfully reclaimed the $63K yesterday, highlighting an increase in the bullish sentiments. However, the crypto industry has displayed a strong bearish reversal during the early trading hours by recording a correction of 3.23% in its global crypto market cap. Moreover, Bitcoin has lost 3.57% within the past day, resulting in it…

The post Third-Largest US Bank Reveals Spot Bitcoin ETF Exposure, Igniting Market Optimism appeared first on Coinpedia Fintech News Wells Fargo, the third-largest U.S. bank, has disclosed its spot Bitcoin ETF exposure, fueling optimism in the market. In fact, the wealth manager joins a growing list of firms welcoming Bitcoin ETFs, according to a new filing with the SEC. This step follows the spot ETF approval on January 11, with Wells Fargo holding positions in Grayscale’s Bitcoin ETF, ProShares Bitcoin…

The post Bitcoin Price Tumbles to $60,890: Expert Predictions on the Next Big Move appeared first on Coinpedia Fintech News Bitcoin fell sharply on May 10, from $62,813 to $60,890 in one hour. Many bullish investors were forced to sell their assets at a loss after the price drop.  Following weeks of investor skepticism and unpredictable market conditions, experts believe the crypto market is consolidating. Bitcoin (BTC) has fallen since its March all-time high, with Friday’s plunge suggesting dip buyers…

Bitcoin might have posted the deepest correction since the FTX crash in November 2022, dipping over 20% from its all-time high of around $74,000. However, Glassnode analysts, while sharing their preview on X, remain cautiously optimistic.  Bitcoin Drops 20% From March High, But Glassnode Is Bullish Glassnode notes that the Bitcoin “macro uptrend still appears to be one of the more resilient in history” and that though corrections have been made, they are relatively shallow. With this position, the blockchain analytics platform…

JPMorgan Chase & Co., the largest bank in the United States, has revealed its substantial Bitcoin exchange-traded fund (ETF) holdings. The disclosure includes a variety of investments in different Bitcoin ETFs, showcasing the bank’s significant involvement in the cryptocurrency market. JPMorgan Chase Reveals Bitcoin ETF Holdings The report highlights 25,021 shares of Bitcoin Depot Inc., valued at $47,415. JPMorgan also holds 6,475 shares of the Bitwise Bitcoin ETF, worth $250,647, alongside a smaller stake of 55 shares valued at $2,129.…

The Hong Kong Bitcoin ETF debut generated several reactions with some experts labeling the debut performance as “terribly disappointing”. However, the CEO of Harvest Global Investments Han Tongli believes that these criticisms are politically motivated, and claims the potential of the Hong Kong ETFs more than double that of the US.  The much-anticipated Hong Kong Bitcoin ETFs made a disappointing debut on April 30, with Thursday, May 9, 2024, witnessing a second consecutive daily net outflow since inception. China Asset…

The post Grayscale Bitcoin ETF Outflows Cancels Out Its $66.9M Inflows In Just 2 Days appeared first on Coinpedia Fintech News The Grayscale Bitcoin ETF has nullified its substantial inflows of $66.9 million in just two days as it failed to continue the inflow momentum since then. It recorded outflows worth $28.6 million and $43.4 million on May 7 and May 9. The rest of the spot Bitcoin ETFs recorded positive or no investments in the time frame. On average,…

The post Bitcoin Open Interest and Derivative Market Remains Indecisive appeared first on Coinpedia Fintech News Bitcoin is currently trading at $62,925, experiencing an intraday drop of 0.23%. The open interest is at $14.859 billion with the Taker Buy Ratio balanced at 0.49, suggesting equal footing between buying and selling pressures. Additionally, the shift in the funding rate from 0.0055 to -0.0004012 indicates a reduction in leverage use, reflecting traders’ caution amid uncertain market directions. However, Bitcoin may stabilize around…