ETF analyst Eric Balchunas said the outsized trading volume across BlackRock’s spot Bitcoin ETF is proof that investors are panic-buying Bitcoin as the asset nears an all-time high. Daily trading volume for BlackRock’s Bitcoin exchange-traded fund (IBIT), surged to $3.35 billion during the trading day of Oct. 29, its highest level in over six months.…
Read more
If Bitcoin matures as a store-of-value asset and governments continue to debase their fiat currencies, its price will surge well into six-figure territory, predicts Bitwise chief investment officer Matt Hougan. Growing investment in “store-of-value” assets and continued fiat currency devaluation could propel the price of Bitcoin to six figures without the need for the US…
Read more
Crypto analysts suggest a Trump victory could give the crypto market a “dopamine hit,” but with considerable volatility already priced in, traders should remain cautious. Many crypto industry pundits have predicted that a Donald Trump victory in the United States presidential election on Nov. 5 may trigger a major crypto market rally. Still, some analysts…
Read more
Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said. Share prices of Bitcoin miners soared as high as 24.4% on Oct. 28 as Bitcoin rallied over $70,000 — with an analyst pointing to an increasingly favorable macroeconomic climate and miners’ continued diversification into AI.…
Read more
Meta wants to reduce its dependence on Google and Microsoft Bing and hopes an in-house search engine will do the trick. Tech giant Meta is reportedly looking at creating its own AI-powered search engine in a bid to reduce its reliance on existing search products, including Google and Microsoft’s Bing. The new search engine will…
Read more
Bitfinex analysts say Bitcoin could reach a new all-time high following the US election, with market conditions forming a “perfect storm” for a major price push. Donald Trump’s chances of winning the presidential election, combined with historically bullish market conditions could be the “perfect storm” of price action that could push Bitcoin to a new…
Read more
“Old noise” may be a new name for FUD, as Tether defends itself from a report in The Wall Street Journal about US government investigations. The United States federal government is investigating stablecoin issuer Tether, The Wall Street Journal reported in an “exclusive” article on Oct. 25, citing “people familiar with the matter.” Tether CEO…
Read more
Microsoft’s upcoming vote on whether or not to build a Bitcoin position is just another sign of corporations’ and institutional investors’ growing interest in BTC. On Oct. 24, a filing by Microsoft Corp. (MSFT) with the United States Securities and Exchange Commission (SEC) revealed an unexpected item on the agenda for its upcoming annual shareholder meeting on…
Read more
According to the paper, central banks collectively hold $2.2 trillion in gold as of Q1 2024 and continue to expand their gold allocations. A recent paper from the Bitcoin Policy Institute titled The Case for Bitcoin as a Reserve Asset argued that central banks should adopt Bitcoin as a reserve asset to hedge against rising inflation, geopolitical…
Read more
A crypto analyst highlighted a 65% increase in Ethereum held in accumulation wallets since the start of 2024, arguing that it’s no longer just for “tech enthusiasts.” Just over $50 billion worth of Ether is currently locked in accumulation wallets — nearly 65% more than the beginning of 2024, according to a crypto analyst. “By…
Read more
