Bitcoin Selloff and Grayscale Outflows Global investment bank JPMorgan recently commented on the crypto market, stating that the profit-taking from Grayscale's bitcoin trust (GBTC) has mostly occurred. This suggests that the downward pressure on bitcoin caused by GBTC should be largely in the past. The recent bitcoin selloff led to a drop in BTC's price from above $47,000 to below $39,000 … [Read more...]
Altcoin Dynamics Altered: Ethereum and Solana Lead Post-ETF Era
Ethereum's Standout Performance In the dynamic world of crypto markets, recent trends have illuminated intriguing divergences in the altcoin market, particularly between ethereum and solana, relative to bitcoin. A comprehensive report published by Glassnode, an onchain analytics firm, delves into this phenomenon. In the latest edition of Glassnode's "The Week Onchain," Alice … [Read more...]
Does a Gold IRA Make Money?
Self-Directed Gold IRAs are a fantastic option to invest in gold without dealing with the hassles of purchasing physical bullion. This kind of account allows investors to buy gold from the government directly and then store it in their name. While many people prefer the physical form of gold, it is not possible for all can access it. In addition physical gold can be expensive and can be … [Read more...]
Trezor Issues Security Alert Following Phishing Attack and Data Breach
Trezor Alerts Users to Phishing Risk After Security Breach Trezor, the company behind the popular cryptocurrency hardware wallet, has recently issued a critical security alert following a breach in its support ticketing system. The breach, which occurred on January 17th, 2024, potentially exposed the personal contact information of over 66,000 customers. This incident has raised concerns over … [Read more...]
The Rise and Fall of Crypto Mining Profitability
Introduction In September 2022, Bitcoin's SHA256 algorithm ranked seventh in terms of profitability for proof-of-work (PoW) networks. However, over the past year and four months, there have been significant shifts in the crypto mining landscape, leading to changes in the profitability rankings of different algorithms. The Evolution of Mining Profitability (2022-2024) As of January 2024, the … [Read more...]
Franklin Templeton Expands Crypto Horizons, Expects More ETP Filings
Franklin Templeton, a leading investment management company with $1.5 trillion in assets, is eyeing a broader expansion into the cryptocurrency market beyond Bitcoin. Sandy Kaul, the Head of Digital Assets at Franklin Templeton, believes that there will be an increase in filings following the recent approval of 11 new spot Bitcoin exchange-traded funds (ETFs). Recognizing the potential of the … [Read more...]
The Risks of Cryptocurrency: RBI Governor Warns of Potential Impact on Financial Stability
RBI Governor's Crypto Warnings Shaktikanta Das, the governor of India's central bank, the Reserve Bank of India (RBI), issued several warnings regarding cryptocurrency at the World Economic Forum in Davos this week. Das emphasized the significant risks associated with cryptocurrencies, particularly for emerging market economies, stating that they have the potential to impact financial … [Read more...]
Bitcoin Technical Analysis: BTC Maintains Above $42,000 Amidst Downtrend Signals
Consolidation in Bitcoin's 1-Hour Chart The 1-hour chart of Bitcoin presents a scene of consolidation, as the price movements of BTC show less directionality compared to longer timeframes. However, there was a sharp decline to approximately $42,056, potentially indicating a purge of stop-loss orders or a brief panic sell-off following the approval of the spot bitcoin exchange-traded funds … [Read more...]
The SEC Approves 11 Bitcoin ETFs, But Bitcoin’s Price Remains Stagnant
In a groundbreaking move, the U.S. Securities and Exchange Commission (SEC) has given its approval for 11 spot bitcoin exchange-traded funds (ETFs), which has been eagerly awaited by cryptocurrency enthusiasts. Despite this significant regulatory milestone, the price of bitcoin has experienced little movement in the past 24 hours. In contrast, ethereum has surged, recording a 9.1% increase on … [Read more...]
Vanguard Restricts Customer Access to Spot Bitcoin ETFs
Introduction Vanguard, a prominent player in the investment management industry with assets worth over $7 trillion, has surprised the market by blocking customer access to Spot Bitcoin Exchange-Traded Funds (ETFs), according to multiple reports. This move stands in contrast to the increasing institutional interest and adoption of Bitcoin-related financial products. Vanguard's Stance Vanguard … [Read more...]
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