Bitcoin

The story has not been any much different for Bitcoin, with its price still stuck in a consolidation range in the past week. The sluggishness of the premier cryptocurrency – and the general market – has continued despite the completion of the halving event over a week ago. The halving event, which saw mining rewards take a significant cut, was expected to usher in another round of bullishness for the Bitcoin price. On the contrary, investors appear to be getting…

Spot Bitcoin ETFs have been a major catalyst in driving BTC to establish an all-time high months before its fourth halving. According to a new report by Ecoinometrics, Bitcoin cannot grow further without those products. These funds appear to have “stopped accumulating coins” (in aggregate) for more than a month, which can be a cause of concern for the leading asset’s future price trajectory. Bitcoin’s Growth Hinges on ETFs From January to mid-March, spot Bitcoin ETFs managed to accumulate 200,000…

Bitcoin’s price recovery attempts from the business week have come to a halt as the asset slumped to $62,400 earlier before bouncing off to around $63,000 as of now. The altcoins are in no better shape, with most of the market turning red today. The total crypto market cap is down by $150 billion in two days. BTC Dumps to $63K Bitcoin’s price actions before and after the fourth halving, which was completed last Friday, have been quite underwhelming. The…

The post How BNY Mellon’s Bitcoin ETF Stake and Dividend Payout Reflect Changing Financial Landscape appeared first on Coinpedia Fintech News BNY Mellon, America’s oldest bank, started supporting cryptocurrencies like Bitcoin and Ethereum via its custody services in 2022. It met the rising institutional demand for a financial setup that handles both traditional and digital assets. On April 25, 2024, BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) said it will give out $0.035 per…

Bitcoin (BTC), the largest cryptocurrency in the market, has been trading within a re-accumulation range between the $59,000 and $70,000 price levels for the past month and a half.  Crypto analyst Rekt Capital recently shared its perspective on this phase and its potential duration, drawing from historical patterns and data in a post on social media platform X (formerly Twitter). Breakout Timing And Historical Patterns According to Rekt’s analysis, Bitcoin tends to experience a re-accumulation range following the Halving event,…

Billionaire investor Anthony Scaramucci, the founder of SkyBridge Capital, recently discussed the viability of financial assets. He took to X, a social media platform previously known as Twitter and owned by Elon Musk, to highlight the decreasing purchasing power of the United States dollar in comparison to the potential of Bitcoin (BTC). US Dollar Vs. Bitcoin Value Performance In the post on X, the SkyBridge Capital founder pointed out that a dollar from 2020 is now only worth about 75…

Despite BTC’s recent unimpressive price action, crypto analyst Doctor Profit has shared his bullish sentiment for Bitcoin and the broader crypto market. The analyst further suggested that a parabolic move was imminent and that crypto investors should position themselves accordingly.  Crypto Market Preparing For A “Third Industrial Revolution” Doctor Profit mentioned in an X (formerly Twitter) post that the crypto market “is preparing itself for the third Industrial Revolution,” thereby hinting at a trend reversal for Bitcoin and altcoins soon…

While Bitcoin prices struggle for momentum and are caged inside a narrow range, on-chain data tells a different story. Taking to X, one analyst notes that whales, which are large crypto holders, are actively accumulating the world’s largest coin by market cap.  Bitcoin Whales Accumulating Despite Weakness By the time this data was shared, Bitcoin whales held over 5.1 million BTC worth a staggering $331 billion. That there is still demand when the coin moves in a narrow range flies in…

Amidst discussions about banning Bitcoin mining in Paraguay, one Senator has praised the industry as a “gift from heaven” to the economy. Bitcoin mining is a passive method of earning BTC which could turn hugely profitable after the recent halving. Bitcoin mining remains a contentious topic for a majority of governments around the world. While some have recognized the potential to spur economic growth, others raise environmental concerns. Paraguay is among the countries struggling with the decision to either ban…