GBTC's discount to its Bitcoin funds narrows in October. What's next?

The discount shrunk significantly on a year-to-date basis. Legal victories in the Grayscale vs. SEC episode brought positive sentiment. The world's largest Bitcoin [BTC] fund, Grayscale BitcThe post GBTC's discount to its Bitcoin funds narrows in October. What's next? appeared first on AMBCrypto.

331 +

Bitcoin ETF may be a ‘limited’ benefit for Coinbase stock: Barclays

Mike Novogratz expects SEC to approve a Spot Bitcoin ETF this year. Barclays analyst does not expect that to be a huge benefit for Coinbase. Coinbase stock is currently down over 30% versus its year-to-date high.

206 +

For the first time in two years, GBTC discount to NAV drops below 15%

Quick Take The Grayscale Bitcoin Trust (GBTC) fund ended the day yesterday, Oct. 16, up 7. 7%. The substantial rise took GBTC’s year-to-date gains to a striking 166%. However, concurrently, the discount to Net Asset Value (NAV) has declined below 15% for the first time in the past two years, now standing at 14.

242 +

Binance Bitcoin reserves double, while proprietary stablecoin BUSD plummets in 2023

Quick Take Year-to-date data for 2023 reflects significant shifts in Binance’s proof of reserves, an official disclosure of the exchange’s on-chain assets. Bitcoin, buoyed by a 60% appreciation, has seen Binance reserves double from $9.

189 +

Bitcoin Exchange Supply Plunges Again, Erases Recent Increase

On-chain data shows the Bitcoin exchange supply has resumed its downtrend recently, after earlier deviating towards a rise. Bitcoin Percent Supply On Exchanges Has Dropped To 11.8% As pointed out by an analyst in a post on X, the BTC exchange supply is back to its year-to-date (YTD) lows. The relevant metric here is the […]

221 +

Bitcoin sat on exchanges sinks to year-to-date low as Binance leads outflows

Quick Take The balance of Bitcoin on exchanges has hit a year-to-date low, with approximately 11. 8% of Bitcoin’s total supply now harbored on these platforms. This comes after a short-lived trend of increased Bitcoin transfers to exchanges, aligning with the cryptocurrency’s ascension towards the $25,000 mark.

220 +

David Marcus sees potential in Bitcoin to be a ‘global payment network’

Lightspark CEO says Bitcoin could help transform global payments. David Marcus explained his view today on CNBC’s “Squawk Box”. Bitcoin is currently down about 20% versus its year-to-date high.

182 +

Fading Bitcoin open interest might hint at imminent market stability

Quick Take The current Bitcoin open interest is on an unprecedented low trajectory, nearing year-to-date (YTD) lows with approximately 400,000 Bitcoin in open interest contracts. Concurrently, the ratio of open interest to market cap has descended to the lower limit of its channel at 1.

207 +

Contrasting currents in crypto market as Bitcoin futures plunge, crypto-margin soars

Quick Take The recent data analysis indicates a critical shift in Bitcoin futures contracts, particularly in the wake of the Grayscale lawsuit. Bitcoin open interest, the total number of outstanding futures contracts, has suffered a significant reduction, with a rough estimate of 400,000 Bitcoin in futures contracts representing one of the lowest readings year-to-date.

217 +

Bitcoin whales make waves by snapping up more coins despite summer price stabilization

Quick Take Bitcoin’s ecosystem has witnessed an intriguing trend as the number of unique entities, alternatively known as ‘whales’ in the crypto world, holding a minimum of 1,000 Bitcoin has reached a year-to-date (YTD) high.

205 +

Bitcoin futures surge suggesting fresh capital entering market

Quick Take A sharp increase in futures open interest occurred on Aug. 9 to a level seen just seven times this halving cycle, thus registering one of the largest single-day surges ever. An impressive addition of over 32,000 Bitcoin was channeled into futures open interest contracts,  pushing the open interest close to the year-to-date highs.

218 +

Bitcoin open interest nears YTD high as Binance, BitMEX see significant surge in allocation

Quick Take Bitcoin open interest (OI) is on the cusp of reaching new Year-To-Date (YTD) highs, rallying on four key exchanges. The current OI allocation stands at 464,000 BTC, nearing the YTD peak of 474,000 Bitcoin recorded in January.

223 +

Record-Breaking $10 Billion Open Interest Fuels Bullish Speculation For Bitcoin Reversal

The cryptocurrency market has experienced a period of stagnation, with Bitcoin (BTC) trading within a narrow range for the past week.   However, according to market analyst Ali Martinez, there is a glimmer of hope on the horizon as Open Interest, a key indicator of market sentiment, has skyrocketed to a year-to-date high.

193 +

Bitcoin’s Bearish Slump: Today’s Price Downturn Unraveled

“Bitcoin Bears Emerge: Investors Brace for Fed Rate Hike and Whales Flock to Exchanges” The soaring gains that propelled Bitcoin to a remarkable 76% year-to-date surge have now given way to a downward spiral, with the cryptocurrency’s value briefly plunging below $29,000 on July 24.

180 +

Fidelity: Ethereum's long-term outlook bullish, but Bitcoin...

Ethereum has gained 60% of its value year-to-date (YTD). Another CryptoVantage survey revealed that 46% of its respondents think Ethereum will surpass Bitcoin. Ethereum's [ETH] outlook for tThe post Fidelity: Ethereum's long-term outlook bullish, but Bitcoin... appeared first on AMBCrypto.

172 +

Actor Ben McKenzie says crypto is like a ‘Ponzi scheme’

McKenzie says cryptocurrencies resemble an MLM scheme. He calls for the need to better regulate and license this market. Bitcoin is currently up a whopping 80% versus the start of 2023. An 80% year-to-date rally in Bitcoin is not enough to substantiate the legitimacy of cryptocurrencies for actor Ben McKenzie.

230 +

Bitcoin’s unique correlation profile suggests an emerging pattern in financial landscapes

Quick Take A review of year-to-date data demonstrates a clear trend of decreasing correlation between Bitcoin and major assets. This finding is in accordance with Ecoinometrics‘ analytics, highlighting a sustained monthly trend of Bitcoin diverging from traditional financial assets.

209 +

Why Bitcoin remains the most preferred digital asset

BTC's inflows year-to-date have exceeded $500 million. Leading alt ETH saw outflows despite the surge in the value of the coin.  Inflows from digital asset investment products totaled $137 The post Why Bitcoin remains the most preferred digital asset appeared first on AMBCrypto.

214 +

Inflows into crypto investment funds rise as Bitcoin carries 99% of the load

However, Ethereum saw outflows in the amount of $2 million and remains the asset with the most outflows year-to-date.

543 +

Crypto Surge Explained – Why Is Crypto Pumping Today?

The cryptocurrency market experiences a significant surge today, with Bitcoin reaching a new year-to-date high and Ripple’s successful tussle with the U. S. Securities and Exchange Commission (SEC) energizing the broader market.

181 +

These Bitcoin Mining Stocks Are up Over 280% Year-to-Date

Bitcoin miners that weathered last year's bear market are reaping the benefits of higher Bitcoin prices in 2023. The post These Bitcoin Mining Stocks Are up Over 280% Year-to-Date appeared first on BeInCrypto.

169 +

Examining the performance of Ethereum against Bitcoin across market cycles

Quick Take The Ethereum to Bitcoin ratio is currently at 0. 061, as it hovers around year-to-date lows. The radio is calculated by dividing the price of Ethereum by the price of Bitcoin and offers an intriguing comparison against previous market cycles, especially when assessing performance from the cycle’s all-time high (ATH).

279 +

Bitcoin Cash price overbought as mining difficulty, hash rate jumps

Bitcoin Cash price has done well in the past few weeks as it transitioned into the 14th biggest cryptocurrency in the world. It jumped from last month’s low of $91. 80 to the year-to-date high of $328.

109 +

EOS price lags as Bitcoin Cash, Litecoin soar

EOS price is down 13% year-to-date even as LTC and BCH have turned extremely bullish. The broader market outlook is bullish and that could help EOS target recent peak. EOS traded at $0. 77 at the time of writing, about 10% up after a brief dip to $0.

256 +

Bitcoin’s correlation with Nasdaq 100 falls to 3-year low

Bitcoin’s correlation with the Nasdaq 100 has fallen to just 3% in June, down from the overall 60% in 2022. BTC price has outperformed the stock index year-to-date and over the past year. Bitcoin price jumped to a year high last week after news of a spot Bitcoin ETF application by global asset manager BlackRock.

236 +

BTC spikes as bulls break $28k: Analysts share predictions

Bitcoin rose to $28,150, its highest level in three weeks. The upside comes as sentiment flipped positive on ETF news amid further whale accumulation. Analyst say BTC could test new year-to-date highs but bulls have to hold a key support area.

233 +

Fed rate pause triggers traders’ pivot to stocks — Will Bitcoin catch up?

U.S. stock markets hit year-to-date highs, the Fed paused rate hikes, and Binance.US and the SEC reached an agreement, but data shows Bitcoin bulls remain somewhat skittish.

2363 +

Bitcoin “Very Unlikely” To Make New Low, Says Analyst as BTC Price Flirts With $25k

199 +

Cleanspark fiscal year revenue crosses $100M amid expansion plans

Bitcoin (BTC) miner CleanSpark’s fiscal year-to-date revenue crossed $100 million in May as its BTC production exceeded expectations, according to a June 2 statement. CEO Zach Bradford noted that these milestones were achieved even though most of its expansion plans were expected later this year.

212 +

Bitcoin price slips under $27K, but data shows BTC whales counter trading DXY strength

The U.S. Dollar Index is encroaching on new year-to-date highs, but Bitcoin whale activity suggests this may be a dead cat bounce.

98 +

JPMorgan analyst sees ‘conditional’ upside to $45,000 in Bitcoin

Nikolaos Panigirtzoglou says BTC should be trading at $45,000. His forecast is based on gold that’s currently near the $2,000 level. Despite recent weakness, Bitcoin is up more than 60% year-to-date.

152 +

Bitcoin realized price hits YTD high

Quick Take The realized price is the average cost basis for the entire Bitcoin market. The current realized price is at a year-to-date high of $20,180. Since March 2023, Bitcoin’s realized price has hovered around the 2020 and 2022 levels, of roughly $26,400.

668 +

Solana price prediction as Bitcoin, Ethereum congestion intensifies

Solana (SOL/USD) price retreated to the lowest point since April 27th as concerns about Bitcoin and Ethereum congestion continued. The coin plunged to a low of $21, which was much lower than the year-to-date high of $27.

107 +

Bitcoin Cash price remains calm ahead of the Fed decision

Bitcoin Cash price has remained in a consolidation phase in the past few weeks. It remains significantly below the year-to-date high of $153. The Fed is expected to hike interest rates by 0. 25% and point to a strategic pause.

190 +

Astounding $185,000 Bitcoin price prediction could move Stellar, Cardano, BNB, ETH

According to analysts who spoke to Bloomberg, bitcoin price rally could be starting. The coin was trading at $29,000 on Sunday, a few points below the important resistance point at $30,000 and slightly lower than the year-to-date high of $31,000.

116 +

Quarterly BTC volume hit second highest ever mark in Q1, 2023: Report

Crypto news have in recent weeks concentrated on the market action that saw bitcoin and Ether prices hit new year-to-date highs. And as the cryptocurrencies have swung lower (Bitcoin is currently below $28,700 and Ethereum under $2,000) amid this week’s other headlines, it is likely some of the biggest trends have silently slipped beneath the […] The post Quarterly BTC volume hit second highest ever mark in Q1, 2023: Report appeared first on Invezz.

108 +

Price analysis 4/14: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Bitcoin hit a year-to-date high at $31,000 and ETH’s price followed. Which altcoins will be next?

214 +

Crypto traders who are bullish on Bitcoin should take note, as a trading expert has identified the next significant obstacle in its path.

Bitcoin’s recent performance has been remarkable, with the digital currency surpassing the crucial resistance level of $30,000 for the first time since June 2022, gaining 80% year-to-date, and briefly crossing the $31,000 mark.

71 +

Global Bitcoin ATM Count Drops Amid Inflation and High Operational Costs

The number of Bitcoin ATMs or crypto ATMs significantly dropped this year. According to data presented by BitcoinCasinos. com, more than 5,300 Bitcoin ATMs have been removed year-to-date. The total number fell to around 33,800 worldwide.

213 +

Ether-Bitcoin Ratio Likely to See Deeper Decline After Shapella Upgrade: QCP Capital

Ether has underperformed bitcoin in the lead up to the Shapella upgrade, resulting in a 13.7% year-to-date decline in the ETH/BTC ratio.

100 +

Crypto prices: Bitcoin to end first quarter on a bullish note

The cryptocurrency market cap was around $1. 24 trillion as Bitcoin price reclaimed the $28,500 level, with crypto poised to end the first quarter of 2023 higher. BTC price was up 24% in the past 30 days, and 83% up year-to-date.

241 +

Bitcoin Critic Peter Schiff Believes BTC Still Headed to Zero: Details

Bitcoin has gained 69% year-to-date

214 +

Bitcoin: Focus shifts to Texas as BTC registers growth in mining activity

Texas, a Bitcoin mining hub, saw a 75% jump in power usage in 2022. Miner revenue per exahash rose 27% on a year-to-date basis. Crypto mining company BitDeer disclosed that it has significanThe post Bitcoin: Focus shifts to Texas as BTC registers growth in mining activity appeared first on AMBCrypto.

325 +

Bitcoin breaks below $26.7K; liquidations rise over $230M in 24hrs

Bitcoin reached a new year-to-date high of $28,865 prior to the FOMC meeting this afternoon. The post Bitcoin breaks below $26.7K; liquidations rise over $230M in 24hrs appeared first on CryptoSlate.

168 +

Why Bitcoin Could Be Ready For Its Most Powerful Rally In Years

Bitcoin price is trading at more than $28,000 per coin and is up nearly 78% year-to-date in 2023. This could only be a mere glimpse of what’s to come, which could ultimately be the biggest rally in crypto in several years – even beating the performance of the 2020 bull run. Here is what Elliott […]

281 +

Assessing Bitcoin's hashrate and network difficulty as BTC drops

Bitcoin's hashrate and network difficulty could increase from their ATHs. Miners’ fees have improved, but total revenue remained underwater at press time. Bitcoin's [BTC] Year-To-Date (YTDThe post Assessing Bitcoin's hashrate and network difficulty as BTC drops appeared first on AMBCrypto.

195 +

Goldman Highlights Bitcoin as Best-Performing Asset

Bitcoin has emerged as the top-performing investment asset in year-to-date returns and risk-adjusted performance, outpacing traditional sectors such as technology and gold

176 +

Bitcoin is beating Warren Buffett’s 'crypto bet' in 2023

Bitcoin's rebound in 2023 has also seen Coinbase stock gaining over 100% year-to-date, boosting Cathie Wood's ARK portfolio.

265 +

$260M of Short Positions Liquidated as Bitcoin (BTC) Crosses $26K

Bitcoin has surpassed the highly coveted $26,000 level, reaching a year-to-date high and sending crypto bulls into a frenzy while

218 +