A light at the end of the tunnel?

Grayscale said Friday that there’s a number of positive catalysts for bitcoin on the horizon from potential spot bitcoin ETF approvals, the halving and even the upcoming presidential election.

In a note summarizing November’s price action, the research team said that it wasn’t just bitcoin that saw a positive November. The team stated that “crypto recovery broadened to a wider array of market segments.”

So far, bitcoin has rebounded a whopping 130% in 2023 after a rough 2022.

“Grayscale Research sees gradually improving crypto fundamentals and a relatively tight supply picture in major tokens (due to Bitcoin’s current ownership structure,…

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Tiger Global reportedly marked down stakes in Bored Ape Yacht Club and OpenSea by 69% and 94% respectively, according to Bloomberg. 

Tiger Global manages around $50 billion. It recorded an 18% paper loss in its largest fund at the end of September, the report states. 

Both OpenSea and BAYC parent company Yuga Labs cut jobs as part of restructuring earlier this fall. Yuga’s cuts impacted US teams, leaving over 120 employees at the company. Yuga, in March 2022, was valued at $4 billion.  

OpenSea cut around 50% of its workforce, a spokesperson confirmed to Blockworks at the time. The cuts came after a round of layoffs last year which saw the NFT marketplace slash 20% of its…

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Bitcoin (BTC) hit $39,000 for the first time since mid-2022 on Dec. 1 as the United States Federal Reserve boosted hopes of policy easing.

BTC/USD 1-hour chart. Source: TradingViewPowell: Calling end to hikes would be “premature”

Data from Cointelegraph Markets Pro and TradingView confirmed a new 19-month BTC price high of $39,000 on Bitstamp.

Bitcoin bulls, already in a strong position, beat out resistance as Fed Chair Jerome Powell took to the stage at Spelman College in Atlanta, Georgia for a scheduled appearance.

“The FOMC is strongly committed to bringing inflation down to 2% over time and to keeping policy restrictive until we’re confident that inflation is on a path to that…

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The cryptocurrency market is up today with its net valuation reaching $1.427 trillion for the first time since May 2022.

Bitcoin (BTC), which controls more than half of the market share, contributed the most to the crypto sector’s growth on Dec. 1, rising 3.25% to nearly $38,850. Ether (ETH), the second-largest cryptocurrency by market cap, jumped 2.8% over $2,100. 

Crypto market capitalization weekly performance chart. Source: TradingViewWhy is crypto market going up today?

Crypto market gains in the last 24 hours coincide with MicroStrategy’s announcement that it had purchased nearly $600 million worth of Bitcoin at an average price of $36,785 per BTC. This acquisition brings the…

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Some industry watchers argue that the approval of spot bitcoin ETFs may occur within a three-day period in January, based on recent moves by the US Securities and Exchange Commission.

Bloomberg Intelligence analyst James Seyffart said in a Friday X post the approval of spot bitcoin ETFs — should the SEC choose to change its decade-long stance by greenlighting such products — could come between Jan. 8 and Jan. 10. 

Those following spot bitcoin ETF developments have looked ahead to Jan. 10 — the deadline for the SEC to rule on a proposal by Ark Invest and 21Shares. 

An approval order could come before this date. But some believe the SEC would allow a bunch of bitcoin ETFs to…

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Executives of cryptocurrency exchange Binance reportedly gave a heads-up to its top market makers regarding a potential $4.3 billion settlement with authorities in the United States.

According to a Dec. 1 Bloomberg report, Binance traders at an exclusive September dinner in Singapore were informed about a tentative deal the crypto exchange had with U.S. officials — roughly two months before the details were made public. Some Binance executives reportedly told certain traders at the event that the exchange could easily afford the $4.3 billion penalty to stay in business.

Then Binance CEO Changpeng “CZ” Zhao was reportedly not in attendance at the event, but Richard Teng — who…

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