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With many analysts speculating the outcomes of the Spot Bitcoin ETF race, partner at CEHV, Adam Cochran, shares his perspective in a Nov. 8 post on X. From Cochran’s perspective, while odds are good for other ETFs, the Digital Currency Group (DCG) and more specifically the asset management unit Grayscale, may be have a tough road ahead . Effects of Genesis’ downfall Cochran suggests that DCG CEO Barry Silbert’s situation comes as a result of the Genesis shutdown , the absence of updates regarding GBTC conversion following a court case, the lack of price arbitrage opportunities on smaller trusts, ongoing discussions surrounding a potential fraud investigation, and the ongoing legal case with Gemini, all contributing to an atmosphere of uncertainty and concern. You might also like: U.S. SEC reviewing BlackRock Bitcoin ETF application; Polkadot, Cosmos, and new coin may soar on approval In a follow-up post in his thread, Cochran goes on to share that al...

The highest Bitcoin open interest levels in over six months come as analysis predicts that BTC price action will fail to flip $36,000 this week. Bitcoin (BTC) fell toward $34,500 on Nov. 7 as analyst s’ attention turned to mushrooming open interest . BTC/USD 1-hour chart. Source: TradingView Open interest "surge" spooks Bitcoin pundits Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory struggling to reclaim $35,000 as support. The largest cryptocurrency lacked clear direction into the Wall Street open, but market participants predicted that volatility would soon return. The reason, they said, was a sharp increase in open interest (OI) on derivatives markets. “Almost 10k BTC (~$350MM USD) in open interest added today. Fireworks soon,” financial commentator Tedtalksmacro predicted on the day. As Cointelegraph reported, open interest reaching elevated levels has coincided with bouts of volatility in recent months. Commenting on current levels, whic...

Police in Scotland have admitted that $200,000 in stolen bitcoin will likely never be recovered following a robbery involving a weaponized Toblerone and a machete. In addition, one of the raided victims has been accused of taking part in online fraud.  In 2020, bitcoin then worth $200,000 was forcibly transferred to a crypto wallet by three masked individuals in a Scottish home raid. The three reportedly brandished a machete and used a large personalized Toblerone to beat one of the victims over the head.  Police track ed the stolen crypto to the wallet of 29-year-old Lanarkshire man John-Ross Rennie, in what was described as the first case of bitcoin robbery to involve tracing in Scotland . However, despite track ing the crypto to Rennie, police say they haven’t been able to seize the stolen funds. As reported by Glasgow Live, Detective Inspector Craig Potter said siezure “relies on the funds being there and being able to access them. In this case by the time we got to Mr Re...

Bitcoin’s reluctance to give up ground has attracted strong buying in select altcoins. Bitcoin (BTC) price climbed by 15% last week and 10.45% the week before. The S&P 500 Index dropped 2.53% last week and 2.39% the week before. This shows that Bitcoin has decoupled from the S&P 500 Index in the short term and may chart its own course. However, the path higher may not be easy. The Federal Open Market Committee’s meeting on Nov. 1 may cause some volatility, but it will li be short-lived as no surprises are expected. CME’s FedWatch Tool projects a 98% probability that rates will remain unchanged. Daily cryptocurrency market performance. Source: Coin360 A large part of the gains in Bitcoin have been fuelled by expectations that the United States Securities and Exchange Commission will approve a spot Bitcoin exchange-traded fund in the near future. Any adverse news in this regard may prove to be a major setback for the bulls. When traders start chasing prices higher, it increases ...

Bitmain, the largest manufacturer of Bitcoin (BTC) mining ASICs, has shared news that its Ant miner T21, an air-cooled miner , would begin shipping as early as January 2024. The Oct. 26 announcement goes on to highlight that the hardware can operate even in harsh conditions, with the ability to withstand 45 degrees Celsius, or 113 degrees Fahrenheit. Latest advancements in mining technology The global launch of the Ant miner T21 took place during the Blockchain Life 2023 Forum in Dubai, where Bitmain proudly held the position of a “diamond sponsor” as part of a larger reveal of the latest advancements in Bitcoin mining technology. World Premiere of T21 in @BlLife_Forum Thanks for the support — XmeiLin (@xmei_lin) October 25, 2023 In a follow-up post on X dated Oct. 25, Bitmain’s Head of Marketing, Xmei Lin, expressed the company’s enthusiasm for the release of the Ant miner T21, emphasizing its global significance within the cryptocurrency i...

As estimated by crypto investment firm Galaxy Digital, Bitcoin is projected to see a 74.1% price increase in the first year after the U.S. launch of spot Bitcoin ETFs. In a blog post dated Oct. 24, Charles Yu, a research associate at Galaxy Digital, projected that the total market size for Bitcoin ETFs could reach $14.4 trillion in their first year. He derived the 74% price increase estimate by comparing the potential impact of fund inflows into Bitcoin ETFs with that of gold ETFs. Galaxy Digital argues that ETFs could offer a more efficient investment vehicle than existing options like trusts and futures, which currently hold over $21 billion in value. The firm anticipates that fund inflows could increase to $27 billion in the second year and $39 billion by the third year. You might also like: BlackRock spot Bitcoin ETF added to NASDAQ’s clearing agency Investor accessibility and prospects Launching Bitcoin ETFs could particularly benefit the U.S. wealth management in...

Bitcoin has undergone a profound change in its issuance rate that makes it a very different asset than what most people think of it, according to crypto influencer Stack Hodler. In a tweet yesterday, Stack Hodler explained that 93 percent of Bitcoin’s total supply has already been issued in the first 14 years of its existence. During this time, new Bitcoins were flooding the market as rewards for miners. However, Stack Hodler argues that in the next 14 years and beyond, new issuance will slow to a trickle — estimated to be less than half a percent of total supply after 2037. This drastically increased scarcity makes Bitcoin a completely different asset. What you think of as “Bitcoin” is what you have experienced as 93 percent of all Bitcoin that will ever exist was dumped onto the market. […] Bitcoin’s true scarcity hasn’t even kicked in yet. Stack Hodler You might also like: Bitcoin faces selling pressure as whale activity hikes Stac...

MicroStrategy the largest Bitcoin-holding public company saw its unrealized gains on its BTC investment reach near the $1B mark as the company’s stocks gained nearly 9% on the day. The Bitcoin (BTC) price surge on Monday has now catapulted Bitcoin-related stocks to surge to new highs with the likes of Coinbase and Microstrategy posting new multi-week highs. Bitcoin mining stocks saw significant gains amid the BTC price momentum with the likes of United States-listed Riot Blockchain recording an 11.69% surge followed by Marathon Digital Holdings at a 14.6% increase. Another factor that played a key role in the mining stocks surge is the upcoming halving event that will cut the Bitcoin mining reward from 6.25 BTC to 3.125 BTC per block. Marathon Digital stock price chart. Source: TradingView Bitcoin mining stocks not only outperformed Bitcoin in terms of daily price rally but also in terms of year-to-date gains. Cipher Mining Inc. has seen an increase of 356% YTD compared to Bitcoin’s ...

BTC price needs to recoup some more key levels before ditching longer-term bearish risk, the latest Bitcoin analysis says. Bitcoin (BTC) held above $30,000 at the Oct. 23 Wall Street open as Analysis said BTC price strength could cancel its “ bearish fractal .” BTC/USD 1-hour chart. Source: TradingView BTC price preserves majority of early upside Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hovered near $30,700, still up 2.5% on the day. The largest cryptocurrency had made snap gains after the Oct. 22 weekly close, stopping just shy of $31,000 in what became its highest levels since July. Now, popular trader and analyst Rekt Capital was keen to see the $31,000 level break. “Bitcoin has Weekly Closed above the Lower High resistance to confirm the breakout,” he commented alongside the weekly chart. BTC/USD annotated chart. Source: Rekt Capital/X Rekt Capital argued that BTC/USD could disregard the bearish chart fractal in play throughout 2023 next. This ...

The price of Bitcoin (BTC) has surged over the past day, increasing its price by nearly 10% to over $19,500. Meanwhile, most major altcoin s like Ethereum (ETH) have continued their downward trajectory. According to crypto analyst Jason Pizzino, this divergence between Bitcoin and altcoin s is expected in the current market cycle. In his latest YouTube video, Pizzino explains why Bitcoin’s price increase does not necessarily signal a broad recovery for the crypto market yet. The analyst notes that while Bitcoin successfully tested a key resistance level around $19,400, it needs to consolidate above that level before confirming an uptrend. When it comes to altcoin s, Pizzino points out most major cryptos are hitting new lows against Bitcoin. You might also like: Charles Hoskinson: Bitcoin has a governance problem Ethereum in particular has broken below key long-term support levels on its Bitcoin pairing, indicating weakness. Pizzino believes the ETH and BTC pairi...

SBF, Caroline Ellision, Alameda and FTX may have conspired to keep Bitcoin price below $20,000, but is it actually possible and worth the effort? On Oct. 11, Caroline Ellison, the former head of the now-defunct Alameda Research, informed a U.S. court that she received instructions from FTX's co-founder and CEO, Sam "SBF" Bankman-Fried, to sell Bitcoin (BTC) if its price remained above $20,000.  This admission came as a shock to the entire crypto industry, but the two conspiring to suppress BTC price, versus actually doing it are two different things. While there are no details available regarding the size and timing of these trades, the timeframe likely falls within September and October 2022, just weeks before Alameda and FTX collapsed. Determining whether Alameda effectively acted to suppress Bitcoin's price below $20,000, as alleged by some analysts and traders is challenging, if not impossible. Nevertheless, it is possible to assess the significance of FTX'...

Bitcoin’s extended period of lateral price movement shares a striking resemblance with the patterns seen in the two previous Bitcoin market cycle s. Both of these cycle s experienced a pivotal shift in November, coinciding with a significant event: the halving. Market observers suggest that Bitcoin’s current lateral price action might transition to a bullish trajectory as early as November, mirroring the behavior observed in prior cycles leading up to the halving event. On the 10th of October, cryptocurrency analyst Miles Deutscher referenced a chart from CryptoCon, pointing out the similarity between recent Bitcoin patterns and those observed in previous market cycles. https://coinstats.app/coins/ BITCOIN / Deutscher commented, “This type of lateral price movement is characteristic of the period spanning from the second to the fourth quarter in pre-halving years.” He also noted that, historically, November 21st has served as a pivotal moment for Bitcoin...

According to Hut 8 CEO Jaime Leverton, the new merged mining business will have “highly diversified fiat revenue streams.” The Canadian Bitcoin (BTC) mining company Hut 8 continues to accumulate self -mined BTC amid the ongoing merger deal with the industrial cryptocurrency miner, US Bitcoin (USBTC). Hut 8 mined 111 Bitcoin in September 2023, bringing its self-mined BTC reserves to 9,366 Bitcoin, the firm announced on Oct. 10. The amount of Bitcoin mined by Hut 8 in September is up around 8% from the previous month, but is still significantly lower than in May 2023, when Hut mined 147 BTC. The Bitcoin miner has seen its mining pace dropping significantly over the past year, as its monthly mining volumes dropped nearly 60% from 277 BTC mined in September 2022. But despite seeing a notable decline in the amount of monthly -mined Bitcoin, Hut 8 has remained committed to its hodl strategy, which has not been seen among too many miners in the industry. “No Bitcoin was sold during the...

The team behind the project called on users to avoid any contacts with Ordswap’s domain after losing control over it. One of the first non-fungible token (NFT) marketplaces built on the Bitcoin (BTC) network Ordswap has seemingly suffered an incident as its developers urge users not to interact with the website. In an X post on Tuesday, Oct. 10, the project alarmed users to avoid any interactions with Ordswap’s front-end, adding the team is “not currently in control of domain .” While the nature of the incident remains unclear, the Ordswap team has uploaded a tool for MetaMask owners so they could recover their private keys. Source for metamask users to obtain key is now available below. You are able to import(hex) to Unisat. https://t.co/oETb7h7sA0 https://t.co/NGaaLiNNwW — Ordswap (@ordswap) October 10, 2023 You might also like: Over 225,000 bitcoin transactions are unconfirmed as Ordinals bloat mempool Although the scale of the inciden...

Komainu is increasing its presence in the U.K. after making an agreement with authorities to store crypto seized during local investigations in 2021. Komainu, a crypto currency custody firm co-created by crypto investment firm CoinShares, hardware wallet company Ledger and Japanese Nomura, has secured major regulatory approval in the United Kingdom. The company announced on Oct. 6 that it has received approval from the U.K. Financial Conduct Authority (FCA) to register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds regulations 2017. The crypto asset registration with the FCA allows Komainu to offer crypto custody services in the United Kingdom, including collateral management services through its Komainu Connect platform. “The U.K. remains one of the most important hubs for financial technology and innovation that will spur the convergence of traditional and decentralized finance,” Komainu CEO Nicolas Bertrand said. Related: Co...

El Salvador’s ambitious renewable energy Bitcoin mining operation welcomes its first mining pool as Volcano Energy partners with Luxor. El Salvador officially launched its first local Bitcoin (BTC) mining pool as the Volcano Energy project begins mining blocks through Lava Pool in partners hip with Luxor Technology. The Bitcoin-friendly country’s $1 billion renewable energy project made headlines earlier in 2023, with stablecoin issuer Tether among companies investing in the project that plans to generate electricity from renewable sources in El Salvador to power future Bitcoin mining operations in the country. Volcano Energy is tapping into Luxor’s experience in providing Bitcoin mining software and services. The project will also use Luxor’s Hashrate Forward Marketplace to mitigate market volatility through automated risk management strategies used by other major Bitcoin mining operators. Bitcoin has the potential to pay off its climate debt much sooner than solar energy, and, t...

The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occuring off-chain. A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository. On Sept. 28, U.S. Democrat Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading Commission (CFTC). The new legislation aims to protect cryptocurrency investors from disputes, manipulation or fraud potentially stemming from transaction s occurring off -chain , or transaction s that take place beyond the blockchain network. Unlike on -chain transaction s, off -chain crypto transaction s are not instantly logged on a blockchain but are processed through secondary layers, thus creating some difficulties in being tracked. With the emergenc...

Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations. Bitcoin mining firm Marathon Digital has confirmed it mined an invalid  Bitcoin (BTC) block during an “experiment” aimed at optimizing the firm’s operations. In a Sept. 27 post, Marathon said it utilizes a small percentage of the firm’s hashrate toward these experiment s and stressed they weren’t trying to alter the network in any way: “In no way was this experiment an attempt to alter Bitcoin Core in any way.” Marathon said, emphasizing that they corrected the error as soon as they noticed the invalid block. We can confirm that Marathon did mine an invalid block . We utilize a small portion of our hash rate to experiment with our development pool and research potential methods to optimize our operations. The error was the result of an unanticipated bug that came from one of our… — Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) September 27, 2023 Marathon said the...

Starting from Oct. 16, Chase Bank customers in the United Kingdom will no longer be able to make crypto transactions. Chase Bank, a digital bank owned by the investment bank JPMorgan, will restrict all crypto currency-related transaction s for its customers in the United Kingdom. Starting from Oct. 16, customers of Chase Bank in the U.K. will no longer be able to make crypto transactions using their debit cards or through outgoing bank transfer, a spokesperson for the firm told Cointelegraph on Sept. 26. “Customers will receive a declined transaction notification if they do attempt to make a crypto -related transaction ,” Chase Bank said in a statement. According to the bank’s representative, Chase has decided to enforce new cryptocurrency restrictions due to an “increase in fraud and scams related to crypto assets.” This is a developing story, and further information will be added as it becomes available. Source: https://thebittimes.com/jpmorgan-s-subsidiary-chase-uk-to-restrict...

According to eToro deputy CEO Hedva Ber, Europe is “hugely important” for the firm as the majority of eToro users are based in the region. Cryptocurrency-friendly brokerage firm eToro is expanding its crypto services worldwide by securing new regulatory approval in Europe. eToro has received the Crypto Asset Service Provider (CASP) registration from the Cyprus Securities and Exchange Commission (CySEC), the firm officially announced on Sept. 21. According to eToro, the registration will authorize it to offer regulated crypto services to all countries in the European Union from one single entity known as eToro Europe Digital Assets. The registration will specifically come into effect once the EU’s Markets in Crypto-Assets Regulation (MiCA) is enforced in December 2024. According to eToro deputy CEO Hedva Ber, the registration shows that eToro is “100% ready to embrace a new era for crypto once MiCA comes into effect next year.” The exec pointed out that Europe is “hugely important”...