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JPMorgan analysts have raised concerns over declining institutional demand for Bitcoin BTC/USD and Ethereum ETH/USD futures, suggesting this trend could contribute to broader weakness in the cryptocurrency market.
What Happened: The analysts observed that futures contracts for both cryptocurrencies on the Chicago Mercantile Exchange are approaching a condition known as backwardation, where futures prices drop below spot prices, according to The Block.
This pattern was previously seen during downturns in June and July last year.
The total market capitalization of cryptocurrencies has decreased by about 15 percent since hitting a peak of $3.7 trillion in December, now hovering…
Read more on Benzinga
Think back through Bitcoin’s history. I guarantee you a handful of events just popped into your mind first, like landmarks. If you kept thinking your mind probably started filling in from there with those landmark events as anchors.
Don’t take these as hard predictions, ignore the coating of hyperbole I can’t stop myself from adding everywhere, and note these don’t come with dates. I’m going to run through a list of “watershed moments” or macro-scale shifts in things that I think are practically guaranteed to happen or begin in the next decade.
— A Visit To The US Supreme Court —
Bitcoin creates an inherent contradiction within the current regulatory and legal framework,…
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Strategy™ (Nasdaq: MSTR) today announced a significant financial move with the pricing of its $2.0 billion zero-interest convertible senior notes set to mature in 2030. The private offering targeted at qualified institutional buyers could increase by $300 million if the initial purchasers exercise their option within five days from issuance.
The notes structured as senior unsecured obligations do not bear regular interest nor will the principal amount accrete. Holders of the notes have specified times and conditions under which they can convert their notes into Strategy’s class A common stock before the notes mature on March 1 2030.
Strategy intends to funnel the substantial net proceeds estimated at approximately $1.99 billion towards general corporate purposes. This includes the strategic acquisition of bitcoin and enhancing working capital signaling a robust commitment to integrating cryptocurrency into its financial strategy.
XRP’s XRP/USD latest surge follows the SEC acknowledging CoinShares’ spot XRP ETF filing and Donald Trump’s media post referencing Ripple’s business—fueling speculation about XRP’s role in future crypto adoption.
CryptocurrencyPrice Market Cap24-Hour Trend7-Day TrendXRP XRP/USD$2.69$155.6 billion+3.5%+10.3%Bitcoin BTC/USD$97,546.59$1.93 trillion+1.5%+1.7%Ethereum ETH/USD$2,747.97$331.4 billion+1.2%+3.5%
Trader Notes: Crypto chart analyst Ali Martinez highlights that XRP is forming an ascending triangle, positioning for a breakout that could lead to a 26% rally.
CrediBULL Crypto sees an ideal setup but warns that XRP/ETH is showing a triple-tap pattern, suggesting…
Read more on Benzinga
Metaplanet has successfully amassed 2,100 bitcoin now holding a significant 0.01% of the total BTC that will ever be mined. With a cap of 21 million BTC this accumulation marks a milestone for the company. They recently purchased 68.59 BTC for $6.6 million with each coin costing about $96,335 highlighting their strong investment in the cryptocurrency’s future.
The company has also raised $20 million in equity capital during the first two trading days of its ambitious “21 million plan”. This financial boost coincides with their announcement on February 18 about a forthcoming 10-1 stock split scheduled for April 1. The split aims to make shares more accessible post their previous 1-for-10 reverse split conducted just eight months earlier.
Shares of Metaplanet are currently experiencing a rise trading over 1% higher in the market at 6260 JPY. This uptrend in share value reflects investor confidence and positions Metaplanet favorably in the financial and crypto markets.
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
The Blockchain Association has spoken again. Or, well, they’ve written another letter.
From the advocacy group that last month brought you a “consensus position” on market structure policy comes a warning to lawmakers on Capitol Hill.
The choices they have: act, or possibly “cripple DeFi innovation in this country altogether.”
If you don’t remember, there was a proposed rule — finalized under the Biden administration — that would expand the “broker” definition to include software that allows users to access DeFi protocols.
The Blockchain Association says…
Read more on Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
A bitcoin financial services company is now listed on the Nasdaq — joining a limited list of public players in the segment.
Called Fold, the company revealed a combination with FTAC Emerald Acquisition Corp. last July in an effort to go public.
Then, in December, Fold closed a $20 million convertible note financing from ATW Partners. That was secured in part by the company’s bitcoin holdings (totaling roughly 1,000 BTC) as collateral and was set to mature three years after Fold became a public company.
That brings us to today, when Fold shares were set to start trading on…
Read more on Blockworks