The recent trend of Spot Bitcoin ETFs experiencing outflows for the past week has caused concern among investors. These outflows have coincided with a decline in the Bitcoin price, indicating that institutional sell-offs and miner sell-offs could be contributing to the trend. Data from Coinglass shows that these funds have now seen seven consecutive days
Money World
As Ethereum started an upside correction from the $3,240 support zone, it faced strong resistance at $3,420. The price is currently trading below this level, as well as the 100-hourly Simple Moving Average. A key bearish trend line is forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken). In
A US bankruptcy court has given FTX the green light to seek votes on a liquidation plan that would pay customer claims in cash. This plan, approved despite objections from customers seeking higher payments due to the rise in crypto prices, would base payouts on prices at the time of FTX’s collapse in November 2022.
The once roaring crypto market now finds itself in a state of retreat, with Bitcoin taking center stage in the downturn. From reaching unprecedented highs earlier in the year to plummeting to new lows, the journey of Bitcoin has been nothing short of tumultuous. A recent report by CoinShares revealed a significant outflow of $630
Anthony Scaramucci, the founder of SkyBridge Capital, has made some bold predictions about the future of Bitcoin. According to him, if Joe Biden wins the presidential election, Bitcoin could potentially reach new all-time highs. He believes that the market will witness a surge in Bitcoin’s price during a second Biden administration, with the flagship crypto
Aayush Jindal, a prominent figure in the financial markets, has dedicated over 15 years to mastering the art of Forex and cryptocurrency trading. His journey began at a young age, driven by a natural curiosity for understanding market dynamics and unraveling patterns. This innate aptitude led him to become a trusted advisor and senior market
The Ethereum price has been on a rollercoaster ride, extending losses below the $3,320 support and testing the $3,240 support zone. Despite some minor upward movements, the price remains below $3,400 and the 100-hourly Simple Moving Average. A key bearish trend line has formed with resistance near $3,440, indicating a challenging road ahead for Ethereum.
Louisiana Governor Jeff Landry recently signed bill HB 488 into law, sparking a debate over the implications of banning central bank digital currencies (CBDCs) and protecting crypto mining. The bill prohibits governing authorities from accepting or requiring payments in CBDCs, while also safeguarding individuals and businesses’ ability to accept crypto for legal goods and services.
Coinbase, a popular cryptocurrency exchange platform, is potentially facing regulatory challenges due to its compliance with new Financial Accounting Standards Board (FASB) accounting rules. These new rules shift the accounting and disclosure for cryptocurrencies to a fair-value model from a cost-less-impairment model, according to a report by MarketWatch. The FASB agreed upon these rules in
Bitcoin has recently experienced a bearish momentum, causing it to trade below the $60,000 mark. This downward movement has led to BTC signaling a short-term downtrend, with potential hurdles near the $62,000 threshold. The price is currently below $61,500 and the 100 hourly Simple Moving Average, indicating a negative trend in the market. Despite attempts