The winds of change swept through the cryptocurrency markets in Asian trading hours, with Bitcoin (BTC) leading a charge downward, erasing the gains made earlier in the week. This article delves into the reasons behind this price dip, explores the potential impact of a looming distribution from a defunct exchange, and examines contrasting long-term outlooks…
As we enter July 2024, the cryptocurrency market is recovering from a volatile June, during which Bitcoin, the largest cryptocurrency by market capitalization, experienced a significant decline. Known for its volatility, Bitcoin’s recent performance has left investors and analysts questioning whether July will bring the stability the crypto market desperately needs. A Turbulent June June…
Investing in cryptocurrency often comes with the excitement of new opportunities. However, it’s crucial to remember that asset prices don’t always reflect their true value. Although the efficient-market hypothesis suggests that prices incorporate all available information, history frequently shows that markets can be inefficient and irrational. The Limits of the Efficient-Market Hypothesis Consider the COVID-19…
MicroStrategy: A Bold Pioneer in the Bitcoin Capital Markets MicroStrategy (MSTR), a company traditionally known for its business intelligence software solutions, has taken the financial world by storm with its innovative approach to Bitcoin. Investment giant Bernstein recently recognized MicroStrategy as a true trailblazer in the nascent field of Bitcoin capital markets, far exceeding the…
Bitcoin’s price plummeted to a one-month low, declining from $67,000 to $64,500 after three consecutive days of outflows from its spot exchange-traded funds (ETFs). This downturn also affected other major cryptocurrencies, including Ethereum, Solana, and Toncoin, each experiencing a drop of over 3%. Token Unlocks Contribute to Downward Pressure Markus Thielen, founder of 10x Research,…
In a move that reverberated through the financial sector, MicroStrategy, the business intelligence software company helmed by the enigmatic Michael Saylor, significantly expanded its planned debt offering. Just a day after announcing a $500 million convertible senior note offering, the company raised the target by an astonishing 40%, setting a new goal of $700 million….
Australia’s financial landscape is on the brink of transformation as the Australian Securities Exchange (ASX) prepares to launch its first exchange-traded fund (ETF) directly tied to Bitcoin (BTC). Set to debut before the end of the year, this significant development marks a pivotal shift in the nation’s approach to digital assets. The highly anticipated spot…
In an unexpected shift, former President Donald Trump has embraced cryptocurrencies, a sector he once criticized, in a bid to win over young, tech-savvy voters and influential industry executives. On Wednesday, following a meeting with bitcoin miners at his Mar-a-Lago estate, Trump took to his Truth Social platform, urging cryptocurrency users to “vote for Trump!”…
The past week in the cryptocurrency world has been a whirlwind of dashed hopes and plummeting prices. What began with anticipation of a triumphant rise fueled by easing inflation data quickly morphed into a brutal shakeout, leaving investors reeling. Bitcoin’s Broken Wings: Bitcoin (BTC), the undisputed king of crypto, took a nosedive, tumbling over 2%…
Investors in Bitcoin ETFs are selling their shares for the second day in a row, likely due to upcoming economic reports that could impact the market. According to data, these spot Bitcoin ETFs listed in the US saw a net outflow of $200 million on Tuesday. This is the highest outflow since early May, when…
U.S. inflation showed signs of cooling in May, with the Consumer Price Index (CPI) coming in flat compared to forecasts of a slight increase. This positive news sent shockwaves through the cryptocurrency market, particularly Bitcoin (BTC), which jumped nearly 4% to $69,400 in the last day. Inflation Eases, Rate Cut Hopes Rekindled: The lower-than-expected inflation…
Investors in U.S.-listed spot Bitcoin ETFs pulled out a combined $65 million on Monday, ending a record 19-day streak of inflows, according to data. This shift comes amidst a broader market downturn and key economic events on the horizon. Grayscale’s GBTC led the outflows with $40 million, continuing its trend as the worst performer since…