CME Traders Currently Shorting Over $6 Billion Of Bitcoin April 5, 2024 March was a big month for Bitcoin. It reached new all-time highs and ETF trading volumes reached $111 billion – almost tripling February’s $42 billion. ETFs purchasing 66,000 Bitcoin worth $3.3 billion, seriously outpaced miner production numbers of around 28,000, with that number soon to be halved. MicroStrategy’s $1.4 billion push to enter Bitcoin’s “1% [...]
Ethena’s Success Causes A Battle Within DeFi April 4, 2024 On Tuesday, the market experienced a sharp decline due to some of the $2 billion of Bitcoin within the United States Department of Justice’s wallet being moved. The wallet’s contents came from seizing 50,000 Bitcoin stolen from the dark web site, Silk Road. The market noticed an initial test transaction of 0.001 ($69) Bitcoin to [...]
Grayscale Believes Crypto Bull Cycle Is 50% Complete April 3, 2024 Coinrule One of the hardest parts of investing in crypto is “timing the top”. “A new paradigm”, “the super cycle” and “this time is different” themed X threads are written to keep you accumulating for the “next leg up”. However, Grayscale believes we are not there yet and detailed why in a report they released [...]
The Crypto Venture Capital Landscape Brightens As Q1 Closes April 2, 2024 On Sunday evening, Bitcoin closed the 7th month in a row with a green candle – the most in 13 years. Q1 was a wild one for the crypto world. ETFs, memes and increasing institutional involvement with the likes of BlackRock’s tokenised fund now having raised over $250 million. Venture capital (VC) crypto investments also made a [...]
The Artificial Superintelligence Alliance may become crypto’s next merger March 29, 2024 On Wednesday, news dropped that the SEC’s case against Coinbase will continue. Judge Failla ruled the regulator has a plausible argument Coinbase failed to register as a securities business. However, as the SEC tries to slow one crypto titan, another one emerges. This time it’s coming from the artificial intelligence sector.
DOJ and CFTC set their sights on KuCoin March 28, 2024 This week, the crypto market experienced some of the most severe fear, uncertainty and doubt (FUD) of the cycle so far. Not only did two US government agencies indict one of the largest centralised exchanges on criminal charges, but North Korean hackers also exploited a popular protocol on a new Ethereum Layer 2. So, just a normal day during a crypto bull market. The exchange in question was KuCoin.
BlackRock’s BUIDL sparks real world asset boom March 27, 2024 Monday greeted us with the first day of Bitcoin ETF inflows after last week’s exodus. This time, Fidelity led the pack with their fifth highest inflow day, with over $261 million. Late last week, more information was released about BlackRock’s BUIDL fund. The market digested it and allocated strongly towards Real World Asset (RWA) related tokens. According to CoinGecko, on Monday, the sector’s market cap grew by over 29% to over $8 billion.
Grayscale’s GBTC distorts the ETF picture March 26, 2024 One of the primary drivers of crypto’s appreciation are easing monetary conditions. Last cycle, Covid-19 fiscal and monetary policy measures kicked off the bull market. Lower interest rates, furlough and stimulus checks, meant individuals had more time, and money, on their hands. Many chose to delve into financial markets with their additional resources. This was a perfect storm for the crypto market - growing nearly 28 times within 20 months. Is the perfect storm this time not going to include a world-halting pandemic and simply be crypto ETF adoption?
SEC probes if Ethereum is security as ‘final battle’ looms March 25, 2024 In reference to computer games, there is a concept of the 'final boss' in crypto folklore. For crypto, the 'final boss' is the government. The SEC's decision to issue subpoenas to crypto companies are an attempt by the agency to classify Ethereum as a security and therefore put it under its jurisdiction. SEC Head Gary Gensler may well see this as the final chance to keep the 'genie' of decentralised finance in the bottle by severely increasing the regulatory risk for crypto projects.
Base’s boom causes problems at Coinbase March 22, 2024 On Wednesday, the market made a strong reversal, as the Federal Reserve maintained interest rates at 5.25%-5.50%. However, ETF investors were not convinced. Net outflows for Wednesday stood at $261 million - the third day in a row of outflows. BlackRock’s IBIT maintained its undefeated inflow streak. However, it experienced its second lowest daily inflows of $49.2 million. Even with this week’s outflows, the market showed it does not have to rely on the ETF flows to have a good time.
