3 Key Factors Preventing Bitcoin from Maintaining $64.5K
Bitcoin experienced a notable increase of 8.2% over the week leading up to September 25, rising from $59,886 to $64,816. However, it encountered a significant obstacle at the $64,500 resistance level, which proved more formidable than anticipated. Alongside weak macroeconomic indicators, several other elements contributed to a downturn in Bitcoin’s price on September 25. Fear […]
BNY Approaches Crypto Custody for ETFs as SEC Eases SAB 121 Guidelines
The Bank of New York Mellon (BNY) is on the verge of offering crypto custody services for its ETF clients, focusing on Bitcoin and Ether, following a key regulatory shift from the United States Securities and Exchange Commission (SEC). The SEC has eased its stance, allowing BNY to bypass previously contentious crypto accounting guidelines. Earlier […]
US Lawmaker Condemns Gensler as most ‘destructive’ SEC Chair in Congressional Hearing
During a recent congressional hearing, U.S. Representative Tom Emmer fiercely criticized Securities and Exchange Commission (SEC) Chair Gary Gensler, labeling him as the most “destructive” and “lawless” chair in the SEC’s 90-year history. Emmer expressed his frustration with Gensler, saying, “You’ve coined the term ‘crypto asset security.’ This term doesn’t exist in any statute, you […]
BlackRock’s Crypto Head Disagrees with Classifying Bitcoin as a ‘Risk On’ Asset
Bitcoin has often been misunderstood as a “risk-on” asset, according to Robbie Mitchnick, head of digital assets at BlackRock. In a Sept. 24 interview with Bloomberg, Mitchnick explained, “The crypto industry has unintentionally contributed to this misconception.” He went on to say, “Some publications and daily commentaries have taken the fact that Bitcoin, as a […]
Ethereum ETFs See Largest Outflows Since July, Indicating Waning Institutional Interest
Ether (ETH) exchange-traded funds (ETFs) have experienced their largest outflows since July, with more than $79 million being withdrawn on Monday. This marks a significant decline in institutional interest in the second-largest cryptocurrency by market cap. These figures are the highest since July 29, when ETH ETFs saw a net outflow of $98 million, according […]
BlackRock’s Bitcoin ETF Requires in 12-Hour BTC Withdrawals from Coinbase
The world’s largest asset manager, BlackRock, has submitted an amendment for its Bitcoin exchange-traded fund (ETF) in response to concerns over Coinbase’s on-chain settlement procedures. On September 16, BlackRock filed an amendment with the United States Securities and Exchange Commission (SEC), specifying that Bitcoin withdrawals from the ETF’s custodian, Coinbase, must be processed within 12 […]
China Maintains 55% of Bitcoin hashrate Despite Crypto Ban
Chinese Bitcoin miners continue to dominate the global Bitcoin network, despite the country’s strict ban on cryptocurrencies. According to Ki Young Ju, founder and CEO of CryptoQuant, over 55% of the global Bitcoin mining network remains under the control of Chinese mining pools. However, there’s a gradual shift in dominance towards the United States. In […]
Bitcoin miner wallets reactivate after 15 years — Could this be Satoshi?
Recently, several dormant wallets tied to early Bitcoin miners, who earned their BTC rewards shortly after the blockchain’s launch by the mysterious Satoshi Nakamoto, have shown signs of activity. On September 20, five different wallets, each holding 50 BTC that were mined as block rewards in 2009, moved their funds. Blockchain records reveal that one […]
Bitcoin: 5 Key Highlights for the Week
1) All eyes on the $65,000 prize Bitcoin kicked off the final week of September by reaching a one-month high, closing the week with a bullish outlook. The price surged to $64,700 after the weekly close, with $65,000 being the next key resistance level to watch. BTC/USD briefly hit $64,700 before consolidating near the weekly […]
Bitcoin Projected to Reach $200K by Late 2025, Unaffected by Election Outcomes
Geoff Kendrick, the global head of digital assets research at Standard Chartered, believes that Bitcoin could potentially hit $200,000 by the end of 2025, regardless of who wins the upcoming U.S. presidential election in 2024. Kendrick’s bullish prediction stems from several key factors that he believes will fuel Bitcoin’s price growth. According to Kendrick, the […]