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This is your captain speaking: Due to regulatory uncertainties regarding who will win the U.S. presidential election on Tuesday, Bitcoin’s price has fallen back to $70,000 under further notice — please HODL.
Okay now past the cringe, Bitcoin’s price nearly hit an all time high of above $73,770 earlier this week, falling just $200 short around $73,500. As I noted last week, markets had been pricing in a Trump victory, which would…
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The daily net flow of U.S. Bitcoin ETFs on November 1, 2024, shows notable fluctuations across various funds. BlackRock’s Bitcoin ETF (Ticker: IBIT) led with a significant net inflow of 4,528 BTC, reflecting strong investor interest and increasing its total holdings to 433,713 BTC. In contrast, substantial outflows were observed in several other funds, with Fidelity’s Bitcoin ETF (Ticker: FBTC) experiencing the largest reduction, losing 1,071 BTC. ARK’s Bitcoin ETF (Ticker: ARKB) and Bitwise (Ticker: BITB) also faced significant outflows of 1,338 BTC and 1,057 BTC respectively.
Other funds saw more moderate changes. Grayscale’s Bitcoin ETF (Ticker: BTC) added 111 BTC, while VanEck’s (Ticker: HODL) gained 56 BTC. Valkyrie (Ticker: BRRR) and Invesco Galaxy (Ticker: BTCO) experienced minor decreases of 24 BTC and 81 BTC respectively.
Despite some notable outflows, the total Bitcoin holdings across all ETFs slightly increased to 1,004,958 BTC, with an overall net increase of 1,115 BTC for the day, amounting to a market value increase of approximately $77.7 million. This day’s transactions reflect a dynamic and shifting landscape in the U.S. Bitcoin ETF market, indicating diverse investor strategies and responses to market conditions.
Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
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Some in the Bitcoin space claim to only be in it for the tech, maintaining that bitcoin’s price doesn’t matter much to them.
Whether they’re just posturing or whether they really mean it, they’re overlooking a major factor that keeps the Bitcoin network secure and healthy — the price of bitcoin.
Lyn Alden did an exemplary job describing why bitcoin’s price matters in the follow post:
Because money is a network good. Liquidity…
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With years of historical data, we can observe the patterns from past bull cycles to become increasingly capable of making predictions about our current cycle. In this analysis, we take a deep dive into when the next Bitcoin peak may occur and at what price level.
The Pi Cycle
The Pi Cycle Top Indicator is one of our most popular tools for analyzing Bitcoin’s cycles. This indicator monitors the 111-day and 350-day (multiplied by 2) moving averages, and when these two lines cross, it has historically been a reliable sign of Bitcoin reaching a cycle peak, typically within just a few days. After multiple months of these two levels drifting apart due to the sideways price action, we’ve just…
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Hold your horses.
While some folks around crypto think we could see the bullish rally take off after we get the election results, Empire’s Jason Yanowitz isn’t so sure.
In Friday’s Roundup, he said that he doesn’t think we see the markets “rip” until potentially January or even February.
“There could be more uncertainty” in November and December, he added, pointing out that he thinks the election results could be close.
“Both sides are already prepping for an all-out war to contest the election,” Yanowitz said. Last election, it took the Associated Press, for…
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A couple of summers ago, I used to order lunch via Grubhub while working long days in the office. When ordering, I always made sure I was logged into Lolli, a bitcoin rewards platform with a browser extension, so that I earned sats back on my purchases.
I eventually stopped eating out so much and began cooking food at home, and over time, I mostly forgot about how I used to stack sats on everyday purchases with Lolli. However, I…
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They say the metaverse is dead, but it’s not so! It’s just that some are deader than others.
Social media platforms often operate in their own Bizarro Worlds. Boomer-brand conspiracies are hot on Facebook, street interviews are huge on Instagram and TikTok’s brain is hardwired for viral earworms spread via super-basic dance choreography.
X and Truth Social had much less in common when Trump launched the latter in February 2022, Trump initially formed Trump Media & Technology Group one month after he was banned from Facebook and Twitter over the Capitol attack on Jan. 6.
Trump was…
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A recent survey conducted by cryptocurrency exchange Paribu shows a significant shift in investment preferences among Turkish investors. The “2024 Cryptocurrency Awareness and Perception Survey” indicates that cryptocurrencies are now preferred over traditional investments like real estate and stocks. Despite gold and foreign currency leading in preferences, crypto has surged ahead with 30% of investors ranking it as a top investment choice, marking an increase from previous years.
Paribu’s research content manager, Nergis Nurcan Karababa, highlights that the growing adoption of cryptocurrencies is driven by their transaction speeds, accessibility, and potential for high returns. Karababa notes, “Compared to traditional financial products, crypto assets may experience much higher rates of adoption.” The survey also reveals an increasing interest from institutional companies, further boosting the crypto trend.
While awareness of cryptocurrencies among Turks is nearly universal at 99%, understanding of blockchain technology lags, with only 72% unfamiliar with the concept. Despite this gap, the number of people recognizing blockchain’s role in cryptocurrencies increased, indicating a rising curiosity and engagement with the technology underpinning digital assets.
Tether, the issuer of the third largest cryptocurrency by market cap, USDT, announced a substantial $2.5 billion net profit for the third quarter. This figure has boosted its year-to-date earnings to $7.7 billion as USDT’s market capitalization approaches $120 billion. Notably, $1.3 billion of these profits stemmed from yields on U.S. Treasury holdings, with an additional $1.1 billion attributed to the appreciation of gold reserves, as shared by CEO Paolo Ardoino on social media.
The company’s financial health is reinforced by a positive quarterly attestation from BDO Italy, showcasing $125.5 billion in assets against $119.4 billion in liabilities. Tether’s robust asset base includes $105 billion in cash equivalents and a significant stash of U.S. Treasury bills, further establishing its strong position in the market.
Amidst these financial successes, Tether continues to diversify, with its venture arm actively expanding into sectors like energy and artificial intelligence. Despite facing allegations from a recent Wall Street Journal report regarding potential legal issues, Ardoino has affirmed Tether’s commitment to compliance with U.S. regulations, underscoring its strategic role in the growing digital asset ecosystem.