Bitcoin

Since the bear market in 2022, bitcoin (BTC) has witnessed substantial pullbacks, losing up to 23% of its value on some occasions. Understanding the depth of these declines could help investors maximize their returns, as rebounds from these drops usually yield substantial gains. According to a tweet by crypto trader and analyst Rekt Capital, accumulating BTC after a pullback of approximately 20% could fetch investors good money as the crypto asset resumes its upward trajectory. Bitcoin’s Pullbacks in This Cycle…

Bitcoin analyst Willy Woo believes it may take up to a decade before bitcoin (BTC) can achieve the valuation predicted by the stock-to-flow (S2F) model. According to a tweet by Woo, the macroeconomic conditions required to propel BTC to S2F’s valuation would take a long time as “the world simply doesn’t move quickly.” Bitcoin to Delay S2F Valuation The analyst’s prediction comes after the Bitcoin network underwent a fourth halving, which reduced its inflation rate by slashing the number of…

The post Whale Hoarding Bitcoin and Tether Makes Big Investment in Algotech appeared first on Coinpedia Fintech News In a striking financial move, a high-profile cryptocurrency investor famous for hoarding Bitcoin and Tether has now placed a major bet on Algotech. This investment underscores the groundbreaking potential of Algotech’s AI-driven algorithmic trading platform.  With its commitment to democratizing trading through advanced technology, Algotech stands poised to reshape the landscape of financial markets, bolstered by this new surge of support from…

The recent Bitcoin halving event, which cut the block reward for miners in half on April 20, 2024, has sparked a wave of optimism in the cryptocurrency market. While a brief dip in a key futures metric hinted at potential short-term bearishness, overall market indicators suggest a bullish trend taking hold. Analysts at Kaiko, a market data provider specializing in crypto derivatives and futures, reported a shift in Bitcoin’s funding rate leading up to the halving. The funding rate is…

Hong Kong’s securities regulatory body, SFC, has approved the launch of Bitcoin and Ethereum ETFs, offering investors a regulated and secure investment option starting April 30th. Approval Announcement The Securities and Futures Commission (SFC) of Hong Kong recently greenlit the trading of the country’s first wave of spot Bitcoin and Ether exchange-traded funds (ETFs), with trading scheduled to commence on April 30th. This approval marks a significant step in the adoption of cryptocurrencies within Hong Kong's financial landscape. The approval…

BlackRock’s iShares Bitcoin Trust (IBIT) has recorded no new inflows for the first time in over two months. This marks a significant pause in its steady growth. This stagnation comes amid broader fluctuations within the US spot Bitcoin exchange-traded funds (ETFs) market, contrasting sharply with the excitement in overseas markets like Hong Kong. US Spot Bitcoin ETFs Stall as Hong Kong Innovates On April 24, the cumulative daily inflow of US Bitcoin ETFs dipped to a negative $120.64 million, according…

Recent data from CryptoQuant indicates a steep decline in daily revenue for Bitcoin miners, falling to $63.6 million on Tuesday after excitement for the Runes protocol diminished. This downturn aligns with the effects of the recent Bitcoin halving event, which took place last Friday night. The event halved the issuance of new Bitcoin per block to 3.125. Consequently, new Bitcoin issuance was reduced from 900 to 450. Post-Halving Volatility: Miner Profits Plummet as Fees Drop Despite this reduction, miner revenues…

In an ambitious stride, Morgan Stanley is setting the stage to expand its Bitcoin exchange-traded funds (ETFs) offerings significantly. According to the latest report, the financial behemoth is poised to permit its approximately 15,000 brokers to recommend Bitcoin ETFs to clients proactively. This move could dramatically widen consumer access and potentially boost the demand for these digital asset funds. Morgan Stanley Chooses the Careful Approaches Previously, since the regulatory green light in January, Morgan Stanley, like its industry counterparts, limited…

The popular bitcoin perma-bear Peter Schiff has carried out another verbal attack on X during the most recent price correction that drove the asset to a multi-day low of around $63,000. Schiff, known for his support and admiration for gold, believes BTC’s price could plummet even more if it breaks below $60,000. Not Looking Good? Although the fourth halving took place less than a week ago, an event typically related to the start of another bull run, many crypto experts,…