Markets

Nov. 21, 2024

First Mover Americas: Bitcoin at $100K Sounds Nice, but Expect Pullback

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 3,048.35 ...

Markets

Nov. 21, 2024

Futures Open Interest on CME Surpasses 215K Bitcoin for the First Time as BTC Eyes $100K

Bitcoin futures open interest on the CME exchange has hit 218,000 BTC ($21.3 billion). The cryptocurrency's market cap is closing in on a historic $2 trillion. CME growth is largely coming from active and direct participants, K33 research says...

Markets

Nov. 21, 2024

Chillguy Creator Threatens Legal Action as Crypto Trenches Scour TikTok

Phillip Banks, the creator of the "Chill Guy" meme, said he's copyrighted the character and plans to issue takedown notices for any for-profit use. Notable figures in the crypto community responded by humorously suggesting Banks accepts tokens ...

Markets

Nov. 21, 2024

Bitcoin Futures Smash Through $100K Barrier on Deribit

Deribit's BTC futures expiring in March, June and September 2025 trade above $100,000. BTC call option at the $100,000 strike now boasts an open interest of over $2 billion. Bitcoin {{BTC}} futures have surged past the $100,000 price mark on ...

Markets

Nov. 21, 2024

Leveraged MicroStrategy Markets Showcase Risk-On Like Never Before as Bitcoin Aims for Six-Digit Price

Options tied to Defiance's 2X long MicroStrategy ETF (MSTX) exhibit extreme bullish positioning. The leveraged ETF is designed to two times or 200% of the daily performance of MSTR's share price. The crypto market right now is like a roller c...

Markets

Nov. 21, 2024

Bitcoin Nears $97K, Continuing Wild ‘Trump Trade’ Rally

Bitcoin (BTC) momentum shows no signs of slowing as a rally catalyzed by a Republican win earlier this month keeps on going, pushing the asset above $95,000 for the first time earlier Thursday. BTC traded above $96,500 in early Asian hours, less...

Markets

Nov. 20, 2024

The Subtle Way AI Data Centers Boost Bitcoin Mining Economics

The rapid proliferation of AI data centers may have a positive impact on the bitcoin mining industry. AI data centers are just as hungry for cheap energy as miners are, so they reduce the number of new mines being spun up. Down the line, cheap...

Markets

Nov. 20, 2024

First Mover Americas: Bitcoin Hits New Highs as ETF Options Traders Go Degen

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,981.79 ...

Markets

Nov. 20, 2024

Memecoin Launchpad GraFun Expands to Ethereum to Clinch New Users

Expanding to Ethereum will help GraFun capture newer audiences, tap into higher liquidity for meme issuances and increase the platform’s visibility among crypto traders. GraFun uniquely offers a “Fair Curve” model that developers say minimizes ...

Markets

Nov. 20, 2024

Bitcoin ETF Options Introduction Marks Milestone, Despite Position Limits

IBIT options surpassed $2 billion in notional exposure. The launch of options on bitcoin ETFs had the approval of just 25,000 contracts as a position limit. According to Bitwise's head of alpha strategies, Jeff Park, by industry standards, bit...

Markets

Nov. 20, 2024

MicroStrategy Breaks Into the Top 100 U.S. Public Companies by Market Cap

MicroStrategy has broken into the top 100 U.S. publicly traded companies by market cap, with a $96 billion market cap. MicroStrategy is now past $400 a share and is up 528% year-to-date. Disclaimer: The analyst who wrote this piece owns sha...

Markets

Nov. 20, 2024

Robinhood Is the Top Crypto Deregulation Trade, Bernstein Says

Robinhood is expected to benefit the most from crypto deregulation in the U.S., the report said. Bernstein raised its price target for the trading platform to $51 from $30. The company's acquisition of crypto exchange Bitstamp is expected to b...

Markets

Nov. 20, 2024

Dogecoin, XRP Trading Volumes Flip Bitcoin’s in South Korea

XRP and Dogecoin (DOGE) have seen significantly higher trading volumes than Bitcoin on South Korean exchanges like Upbit and Bithumb. XRP and DOGE have experienced over 100% price increases in the past two weeks, driven by factors like favorabl...

Markets

Nov. 20, 2024

Pro Crypto Traders Are Leveraging IBIT Options to Bet on BlackRock’s Bitcoin ETF Doubling to $100: Observers

The $100 IBIT call option saw a significant volume on Day One, signaling expectations that prices could double to $100 in the coming months. The bullish sentiment is consistent with the noticeable activity in the $200,000 bitcoin call trading o...

Markets

Nov. 20, 2024

Bitcoin ETF Options Attract $2B on Day One, Shifting BTC’s Market Structure

On their first trading day, IBIT options amassed nearly $2 billion in notional exposure, an unusual volume for new options. More call options were traded compared to puts (4.4:1 ratio), likely contributing to BTC’s new record highs. Introducing...

Markets

Nov. 19, 2024

Rumble Stock Rises as CEO Teases Bitcoin Adoption

Video-sharing platform Rumble (RUM) is moving higher during afternoon U.S. trading hours on Tuesday after CEO Chris Pavlovski suggested an interest in adopting a bitcoin {{BTC}} treasury strategy. "Should Rumble add Bitcoin to its balance sheet,...

Markets

Nov. 19, 2024

Ethena Sees $1B Inflows as Crypto Rally Brings Back Double-Digit Yields

Ethena's USDe yield-bearing token grew by $1 billion in a month to $3.44 billion as perpetual funding rates rose amid the crypto rally. The token now offers a 29% annualized yield, rebounding from a period of below the U.S. dollar risk-free rat...

Markets

Nov. 19, 2024

Bitcoin Makes New All-Time High of $93,750 as ETF Options Go Live

Bitcoin rose above $93,750 today, hitting a new all-time high. Spot bitcoin ETF options are now live on Nasdaq. The product was rolled out in strong demand from traders. Bitcoin {{BTC}} made new highs on Tuesday as Wall Street rolled out its...

Markets

Nov. 19, 2024

Dueling 'Eliza' AI Tokens Boom and Zoom in Frenzied Trading

Artificial Intelligence (AI) might one day be humanity's downfall, but in the meantime, humans are doing a pretty good job marketing it for their profit. The creators of crypto's latest AI darling project, "ai16z" (a cheeky riff on the prolific ...

Markets

Nov. 19, 2024

First Mover Americas: Options Coming to Bitcoin ETFs Is a Big Deal

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,975.88 ...

Markets

Nov. 19, 2024

Bitcoin Mining Economics Improved in the First Half of November: JPMorgan

The hashprice rose almost 30% in the first two weeks of the month as bitcoin mining profitability improved, the report said. The total market cap of the miners tracked by the bank surged 33%, or about $8 billion. U.S.-listed bitcoin miners now...

Markets

Nov. 19, 2024

MARA Holdings Upsizes Convertible Notes Offering by $150M Amid Overwhelming Investor Demand

MARA has upsized its zero-coupon convertible notes, offering to $850 million from $700 million. MARA plans to buy more bitcoin with the estimated net proceeds of $833 million. Disclaimer: The analyst who wrote this piece owns shares of Micr...

Markets

Nov. 19, 2024

Donald Trump’s Media Group Eyes Purchase of Crypto Exchange Bakkt: Report

Trump's media company is expanding into the cryptocurrency market. Bakkt's crypto custody business will not be part of the acquisition. The deal deepens Trump's involvement in crypto after promoting World Liberty Financial. Trump Media and T...

Markets

Nov. 19, 2024

Ethereum's Ether Has Fallen Out of Investor Favor and How

ETH's options-based probability density function shows just a 10% chance of prices testing the year-to-date high of $4,000 by the end of December. ETH faces headwinds from weak fundamentals. Ethereum's ether {{ETH}}, once viewed as the shiny ...

Markets

Nov. 19, 2024

Bitcoin at $100K No Longer a Dream Believe Traders, but Blow-Off Top Warning in Near Term

The potential for $100,000 bitcoin has been fueled by anticipated U.S. regulatory changes and strong institutional adoption. There are expectations of an altcoin season following a decrease in Bitcoin's market dominance. Despite the bullish ou...

Markets

Nov. 18, 2024

Spot Bitcoin ETF Options Could Start Trading As Early As Tomorrow

Options on the iShares Bitcoin Trust (IBIT) could start trading on Nasdaq as soon as tomorrow, the stock exchange's head of ETP listings said. The U.S. SEC approved options for the spot bitcoin ETFs on several exchanges in September. Options o...

Markets

Nov. 18, 2024

Semler Scientific Added 215 Bitcoin to Holdings, Bringing Stack to 1,273 BTC

Semler Scientific purchased 215 BTC for $17.7 million, or an average price of $82,502 per bitcoin. Semler achieved a "BTC Yield" of 37.3% since adopting the new treasury strategy. The company's Monday morning announcement continues a flurry of...

Markets

Nov. 18, 2024

First Mover Americas: Solana Breaks Out to New Cycle Highs

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,927.56 ...

Markets

Nov. 18, 2024

Michael Saylor's MicroStrategy Added Additional 51,780 Bitcoin for $4.6B

Self-described Bitcoin Development Company MicroStategy (MSTR) added to its bitcoin {{BTC}} stack, purchasing 51,780 tokens for $4.6 billion over the six days ended Sunday. MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per...

Markets

Nov. 18, 2024

MARA to Offer $700M Convertible Senior Note, Shares Fall 5%

MARA holdings announce a private offering of $700 million in convertible senior notes due 2030. MARA intends to use up to $200 million of the proceeds to repurchase a portion of its outstanding 2026 convertible notes. The offering includes an ...

Markets

Nov. 18, 2024

Bitcoin's Correlation to U.S. Equities and Ether Weakens: Van Straten

To the general populace, bitcoin is considered a risk-on asset due to its volatility and perceived correlation with U.S. equities. In 2024, bitcoin and nasdaq have gone up or down together on the same day only 52% of the time. Bitcoin {{BTC}}...

Markets

Nov. 18, 2024

Bitcoin Near a Record High Might Be Just Half the Journey as BCA Research Signals $200K

Despite bitcoin's recent surge, one analysis shows the price might rise as high as $200,000. A gauge based on 260-day fractal patterns is not even close to the levels seen at previous bull market peaks, BCA Research said in a note Thursday. W...

Markets

Nov. 18, 2024

Missed BTC Rally to $93K? Bitcoin Memecoins Could Be Next to Watch

Memecoins like PUPS, DOG•GO•TO•THE•MOON, and BILLION•DOLLAR•CAT are becoming popular beta bets for Bitcoin's growth. The Runes protocol, which facilitates the creation of fungible tokens directly on Bitcoin using its UTXO model, has overtaken B...

Markets

Nov. 18, 2024

Frenzy Alert: JPMorgan's Bitcoin Retail Sentiment Score Hits Record High, MSTR's Call Skew Soars

JPMorgan's retail sentiment score for BTC and BTC-tied assets hit a record high last week. MSTR's options market exhibited extreme upside fear or bullish speculative frenzy. Bitcoin {{BTC}} and everything else tied to cryptocurrency have been...

Markets

Nov. 18, 2024

CAT Token Expands to Solana, Setting Up Long-Term Bullish Move

CAT, the memecoin linked to Simon's Cat, is expanding to the Solana blockchain to tap into its active trading community. A vault provides early access to BONK token holders who have locked their tokens for 12 months. Solana's ecosystem has bec...

Markets

Nov. 17, 2024

XRP Sees Record Futures Bets Amid Price Surge Above $1.20

Regulatory clarity and upcoming technical changes are spurring growth in XRP-tracked futures, with open interest zooming to record highs on Saturday as prices spiked more than 20% over 24 hours. XRP and U.S. dollar-denominated open interest are ...

Markets

Nov. 17, 2024

BONK Jumps 16% to Record Highs as Traders Eye Even More Gains Ahead

BONK leads with a 16% gain and high trading volumes on Coinbase, outpacing other memecoins like DOGE and SHIB. Technical analysis shows BONK's breakout from consolidation, suggesting potential growth; it's seen as undervalued compared to peers....

Markets

Nov. 16, 2024

XRP Skyrockets Past $1 as SEC Faces Legal Troubles And Favorable Regulatory Shift Looms

XRP's price has nearly doubled this week to above $1. The SEC's legal troubles could have a bearing on its pending appeal in the Ripple ruling, which said that XRP sales on public exchanges did not fall under the definition of a security. The ...

Markets

Nov. 15, 2024

This OG Bitcoin Investor Just Turned $120 Into $178M

A bitcoin {{BTC}} whale moved 2,000 BTC, worth $178 million, to Coinbase after holding their stash since 2010, Mempool data shows. The user first received BTC in 2010, when the asset was worth just $0.06 per coin and had a market cap of arou...

Markets

Nov. 15, 2024

First Mover Americas: Bitcoin Shaky as Traders Bank Profits

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,691.86 ...

Markets

Nov. 15, 2024

Bitcoin ETFs Witness Third Highest Outflow Since Launch, the Other Two Times Foreshadowed Price Bottoms

U.S. spot-listed ETFs saw their third biggest outflow since launch, over $400 million. Each time we see an outflow greater than $400 million, we have seen a local bottom in price, which can be seen on May 1 and Nov. 4. U.S.-listed bitcoin {{B...

Markets

Nov. 15, 2024

Is Bitcoin on Shaky Ground? Market Signals Reflect Patterns That Foretold the Recent Slide in Trump Media Shares

The implied probability distribution is skewed to the left, suggesting expectations for price pullback. Shares in Trump media experienced a similar dynamic before the recent price slide. As bitcoin's {{BTC}} price struggles to secure a footho...

Markets

Nov. 15, 2024

XRP Jumps 17% Outperforms Rest of the Market as Rally Cools; Trader Thinks $120K Bitcoin Target Still in Play

Bitcoin fell to $88,000 from a peak of $93,000 leading to $120 million in liquidations. The market is now pricing in a 66% chance of a 25 basis point cut in the December FOMC meeting, down from Thursday’s 83%. XRP zoomed 17% in the past 24 h...

Markets

Nov. 14, 2024

Strategic Bitcoin Reserve Has Precedent in Other Big U.S. Government Purchases: Michael Saylor

Michael Saylor believes the U.S. government should and will build a strategic reserve of bitcoin. If a bill by Sen. Cynthia Lummis (R-Wyo.) becomes law, it would be the "greatest deal of the 21st century," he said. The idea of strategic stockp...

Markets

Nov. 14, 2024

Fed Chair Jerome Powell's Hawkish Comments Throw Some Cold Water on Crypto

It's hardly a blip on the charts after the major run higher following the election of Donald Trump, but crypto markets did turn somewhat lower late in the U.S. trading day Thursday after a speech from Federal Reserve Chairman Jerome Powell. "The...

Markets

Nov. 14, 2024

First Mover Americas: Bitcoin Trades Around $91K as ETF Inflows Remain Strong

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,668.37 ...

Markets

Nov. 14, 2024

What Does a 60/40 Portfolio Look Like if We Replace Bonds With Bitcoin, a Lot Better: Van Straten

The traditional 60/40 portfolio, which ensures growth from equities and bonds that helped manage risk, was the perfect vehicle for the analog economy. Adding bitcoin to a 60/40 portfolio increases the returns as the allocation increases. It m...

Markets

Nov. 14, 2024

U.S. ETF Inflows Hit $4.7B Over 6 Days as Bitcoin Becomes 7th-Largest Asset in the World

Bitcoin has become the seventh largest asset on the planet, recently surpassing Saudi Aramco Bitcoin dominance continues to make new highs, recently touching 61.38% U.S. spot-listed ETFs see over $4.7 billion in net inflows in the past six tra...

Markets

Nov. 14, 2024

Institutions Go All In on Crypto: Sygnum Survey Reveals 57% Respondents Plan to Boost Allocations

57% of institutional investors in Sygnum's 2024 survey plan to boost crypto allocations amid the bull run. 65% of respondents are bullish long-term as bitcoin hits new highs. 69% see regulatory clarity, but asset volatility remains a key conce...

Markets

Nov. 13, 2024

Bitcoin Surges to New Record Over $93K as Strong U.S. Demand Crushes Resistance Level

Bitcoin blasted through the $90,000 resistance level early in the U.S. trading day and then quickly pushed even higher to top $93,000. The surge was fueled by heavy demand, with the Coinbase Premium Index at its highest level since April. Blac...

Markets

Nov. 13, 2024

Bitcoin Traders Make $100K Price Bets Through CME Options: CF Benchmarks

Bitcoin traders appear to be scooping the $100,000 call option on the CME, CF Benchmarks told CoinDesk. Similar bullish flows have been observed on Deribit. There seems to be no stopping the bitcoin {{BTC}} freight train as traders on the Chi...

Markets

Nov. 13, 2024

U.S. CPI Meets Estimates, Rising 0.2% in October; Bitcoin Moves Above $89K

October CPI data for the U.S. met economist estimates. The price of bitcoin rose above $89,000 following the numbers. The chances of another Fed rate cut in mid-December jumped to 69% just after the data. U.S. inflation data for October exac...

Markets

Nov. 13, 2024

First Mover Americas: Bitcoin Consolidates After Encountering Resistance at $90K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,598.80 ...

Markets

Nov. 13, 2024

Ether ETFs in the Black for the First Time After 5 Days of Inflows

Ether ETFs reached positive cumulative flows for the first time after five consecutive days of net inflows. The funds' cumulative flows since they listed in July are now in the black to the tune of $94.62 million. Ether {{ETH}} exchange-trade...

Markets

Nov. 13, 2024

Volatility Expected in Bitcoin Later Today as US Headline Inflation Data Is Expected to Tick Higher

Consensus for headline inflation year-over-year is expected to increase by 0.2% to 2.6% — the first year-on-year increase since March 2024. Bitcoin's 30-day implied volatility spiked to as high as 90% past week, and could see further volatility...

Markets

Nov. 13, 2024

Bitcoin Price Rally Hits a Wall at $90K Resistance While FX Traders Back the Dollar Bull Run

BTC takes a bull breather at the key $90,000 barrier that CoinDesk identified last week. Crypto traders anticipate an eventual breakout toward $110,000. Continued dollar strength, anticipated by FX traders, might lead to financial tightening a...

Markets

Nov. 13, 2024

Dogecoin Craze Grips Korea, Fuels Price Premium on Local Giants Upbit and Bithumb

DOGE trades at premium on Upbit and Bithumb relative to Binance. The price differential is still noticeably lower than the previous bull market peaks. When it comes to trading alternative cryptocurrencies such as dogecoin {{DOGE}}, South Kore...

Markets

Nov. 13, 2024

Dogecoin Trade Goes From Meme to Reality as Donald Trump Confirms D.O.G.E

President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead a newly formed Department of Government Efficiency (DOGE). Musk mentioned creating a leaderboard for the most inefficient government spending, blending transparenc...

Markets

Nov. 12, 2024

Bitcoin Blasts to $90K as Crypto Rally Shakes Out Leverage Traders

The crypto bull market shows no signs of stopping, with bitcoin {{BTC}} hitting another milestone by hitting the $90,000 level on crypto exchange Coinbase. The largest crypto retraced around 5% to the low-$85,000 level earlier Tuesday, shaking o...

Markets

Nov. 12, 2024

Stablecoin Supply Expands by $5B Since U.S. Election as Investors Pile Into Crypto

The supply of Tether's USDT and Circle's USDC together grew by $5.4 billion over the past week as demand for crypto liquidity soared after the U.S. election. Stablecoins have steady prices and serve as key trading pairs on exchanges; their grow...

Markets

Nov. 12, 2024

El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger

The value of El Salvador's bitcoin holdings have risen above $500 million and Bhutan's above $1 billion. Bhutan's BTC holdings now account for more than one-third of its GDP versus El Salvador's stack at just 1.5% of its GDP. The fiscal situat...

Markets

Nov. 12, 2024

XRP's 90 Cents Calls Dominate Options Markets as Prices Hover Near 65 Cents: Godbole

Deribit's nascent XRP options market shows bullish positioning. XRP trades close to a prolonged supply zone. XRP's nascent options market listed on Deribit shows growing bullish sentiment among traders. At press time, the 90 cents call optio...

Markets

Nov. 12, 2024

First Mover Americas: Bitcoin Flirts With $90K in Volatile Trading Session

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,645.58....

Markets

Nov. 12, 2024

Bitcoin Shrimps Emerge as the New ‘Smart Money’ as Whales Offload Their Stash: Van Straten

Investors who hold less than one BTC continue to accumulate, as they have been doing for the past two months. Humpback whales who hold over 10K BTC, continue to distribute coins, extending the two-month trend. Long-term holders, on average, se...

Markets

Nov. 12, 2024

Ether ETF Inflows Hit Record, Bitcoin Inflows Soar as BTC Eyes $90K

Ether U.S. spot-listed ETFs recorded the largest net inflow since their introduction, adding almost $296 million. Bitcoin overtook silver as the planet's eighth-largest asset by market cap. Investors poured money into U.S. spot crypto exchang...

Markets

Nov. 12, 2024

Dogecoin Rockets 48% as Traders Target $1 Price Next

The memecoin led gains among crypto majors, outperforming the other top 100 tokens. The jump led to crypto traders losing over $68 million on DOGE-tracked futures. Dogecoin {{DOGE}} continued its strong rally for the fourth-straight day with ...

Markets

Nov. 12, 2024

Bitcoin Spikes Above $89K in Wild Trading Session, Battering Both Bulls and Bears

Bitcoin surged above $89,000 before dropping to $87,000, resulting in over $600 million in futures liquidations across both long and short positions. This volatility was the highest since BTC briefly surpassed $73,000 earlier in the year. Altc...

Markets

Nov. 12, 2024

Bitcoin Market Euphoric, Faces Risk of Pullbacks and Leverage Washouts, Trading Firm Warns as BTC Price Nears $90K

BTC's breakout has the market in a state of euphoria, QCP Capital said. Elevated perpetual funding rates and basis yields suggest potential leverage washouts ahead. As bitcoin {{BTC}} prices approach the $90,000 mark, a sense of euphoria or e...

Markets

Nov. 11, 2024

Bitcoin Tops $88K, Catapulting MicroStrategy to 24-Year Record Amid Supercharged Crypto Rally

Bitcoin clinched another all-time high of $88,448 on Monday, surging 11% over the past 24 hours, while the broad-market CoinDesk 20 Index underperformed, with Ethereum's ETH and Solana's SOL lagging. Crypto equities such as Coinbase, MicroStrat...

Markets

Nov. 11, 2024

Bitcoin Climbs Above $84K, Adds Almost $20K in a Week

Bitcoin climbs above $84,000 as it continues to hit new all-time highs following the result of the U.S. elections. Gold and the so-called magnificent seven tech stocks are underperforming. Bitcoin {{BTC}} climbed above $84,000 Monday as it ex...

Markets

Nov. 11, 2024

Why Bitcoin's Record Price Rally May Be Choked Between $90K and $100K?

Deribit-listed BTC options at $90,000 and $100,000 strikes have been sold to dealers, according to Amberdata. The rally may lose steam if prices reach those levels. As bitcoin's {{BTC}} ongoing price surge gives off an aura of invincibility, ...

Markets

Nov. 11, 2024

MicroStrategy Buys Another 27,200 BTC for $2B; Bitcoin Profits Sit at $11B

Michael Saylor's MicroStrategy, the largest corporate holder of bitcoin, has bought another 27,200 BTC for $2 billion. Its bitcoin stash was acquired for a cumulative $11.9 billion, meaning MicroStrategy is currently in profit to the tune of ar...

Markets

Nov. 11, 2024

Crypto Market Cap Could Balloon to $10T by 2026 Under Trump Administration: Standard Chartered

A Republican sweep could see total crypto market cap grow to $10 trillion by the end of 2026, the bank said. Positive changes are expected for crypto markets early in the new administration, the report said Standard Chartered said we have now ...

Markets

Nov. 11, 2024

First Mover Americas: Bitcoin Hits $82K as Weekend Rally Extends

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,561.84 ...

Markets

Nov. 11, 2024

Pre-Market Trading in U.S. Crypto Stocks Explodes, With MicroStrategy Topping $300

Crypto equities in the U.S. are up more than 10% across the board as bitcoin climbs above $82,000 to a new record. Semler Scientific is leading the pack, with a 25% gain in pre-market trading. MicroStrategy shares climbed above $300. Discl...

Markets

Nov. 11, 2024

Where the Demand Comes From as Bitcoin Breaks Through $82K: Van Straten

Last week, bitcoin rallied 17%, its second-best week of the year. Bitcoin's spot volume on Coinbase soared, nearing the March 2024 high. Exchange balances for the largest cryptocurrency hit a year-to-date low, a sign of increased buying pressu...

Markets

Nov. 11, 2024

Mt. Gox Shuffles $2.4B Bitcoin Between Wallets as BTC Hovers Near $82K: Arkham

The defunct exchange moved over 30,000 BTC to the wallet, which was the largest receiver in the last series of transfers. Such transfers usually imply that an exchange is gearing up to sell tokens on the open market. Defunct crypto exchange M...

Markets

Nov. 11, 2024

Bitcoin Nears $82K in Bullish Start to Week; Dogecoin Flips USDC

Bitcoin surpassed the $81,000 mark, driven by a continuous rally, high trading volumes over the weekend, and bullish futures market activity, with traders betting on further increases. Dogecoin and Shiba Inu led the gains among major cryptocurr...

Markets

Nov. 10, 2024

Solana Joins $100B Club, Hitting Nearly a Three-Year High Above $210

Solana's native cryptocurrency {{SOL}} hit a new milestone on Sunday as bitcoin's {{BTC}} breakout to new record prices accelerated the broad-based crypto rally following Donald Trump's decisive election victory and the Federal Reserve's add...

Markets

Nov. 10, 2024

Dogecoin Flips XRP as Elon Musk-Linked Trade Keeps on Giving

Dogecoin (DOGE) flipped xrp (XRP) early Sunday as bullish sentiment around the meme’s endorsement by technology entrepreneur Elon Musk in the Trump administration pushed prices 14% higher in the past 24 hours, extending 7-day gains to 55%. DOGE ...

Markets

Nov. 10, 2024

Cardano’s ADA Rockets 35% as Hoskinson Says He’s Helping U.S. Crypto Policy

Cardano’s ADA tokens surged 33% in the past 24 hours, outperforming bitcoin and other majors, as founder Charles Hoskinson revealed plans to help shape U.S. crypto policy under the Trump administration — boosting speculative bets on the token. A...

Markets

Nov. 10, 2024

Bitcoin Smashes $79K in Bullish Weekend Pump, With $280M Bearish Bets Liquidated

Bitcoin (BTC) jumped above the $79,000 mark for the first time in history in an unusual weekend pump that liquidated $280 million in bearish crypto trades. BTC rose 4%, extending 7-day gains to over 16% on the back of a week that saw Republican ...

Markets

Nov. 10, 2024

As Bitcoin Eyes $80K, Futures Premium Soars and $1.6B Locked in Options Bet Points to Big Moves

BTC topped $79,500 during the Asian hours. Futures premiums soar, indicating a bias for bullish bets. The popularity of the $80,000 call on Deribit points to potential dealer hedging around the key level. As bitcoin races toward the $80,000 ...

Markets

Nov. 09, 2024

Why Bitcoin Will Soar Above Its Fresh Record: Van Straten

Bitcoin {{BTC}} keeps hitting new highs, propelled above $77,000 on Nov. 8 for the first time ever by crypto industry optimism about Donald Trump winning the U.S. presidential election. Other cryptocurrencies are soaring, too. Ethereum's eth...

Markets

Nov. 09, 2024

Ether Blows Past $3K, Builds Bullish Momentum After Trump's Election Win and Fed Rate Cut

ETH jumps to highest since Aug. 2. Hopes for regulatory relief under the Trump presidency and Fed rate cuts galvanize demand for ETH. When a beleaguered asset is met with a burst of good news, it can unleash powerful bullish momentum, often o...

Markets

Nov. 08, 2024

Bitcoin Hits Another Milestone, Topping $77K for First Time; Funding Rates Suggest Crypto Rally Can Keep Going

Cryptocurrency price milestones continue to topple in the aftermath of Donald Trump's election victory, as bitcoin {{BTC}} on Friday surpassed $77,000 for the first time and some laggard altcoins joined the rally following the Federal Reserve's ...

Markets

Nov. 08, 2024

First Mover Americas: BTC in Price Discovery Mode Following Record High

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,333.79 ...

Markets

Nov. 08, 2024

D.O.G.E Memecoin Rockets 100% as Traders Savor Elon Musk's Strong Ties to President-Elect Trump

The parody Department of Government Efficiency (D.O.G.E) memecoin has surged by 100% in the last 24 hours, boosting its trading volumes and demand. Elon Musk's public discussions about forming a real "Department of Government Efficiency" (D.O.G...

Markets

Nov. 08, 2024

Cardano Pumps 16%, Bitcoin Could Pop to $100K After Fed Rate Cut

Cardano's ADA has surged 16% in the past 24 hours, driven by marketwide increases, renewed interest in decentralized finance and growing appeal to retail investors. Bitcoin has traders eyeing $100,000 in the near term due to recent highs and th...

Markets

Nov. 08, 2024

Bitcoin ETFs See Record $1.3B Inflows on Trump Win, Fed Rate Cuts

Bitcoin ETFs saw a record-breaking $1.38 billion in net inflows post-Trump's election win. Ethereum ETFs recorded $78 million in inflows, buoyed by optimism in DeFi after Trump's victory. Bitcoin {{BTC}} exchange-traded funds (ETFs) listed in...

Markets

Nov. 07, 2024

Fed Cuts Rates by 25 Basis Points, Bitcoin Price at Record Ahead of Powell's First Speech Since Trump Win

As widely expected by market participants, the U.S. Federal Reserve lowered its benchmark fed funds rate by 25 basis points to 4.5%-4.75% on Thursday, following the footsteps of other central banks to loosen monetary policy. "Since earlier in th...

Markets

Nov. 07, 2024

Post-Election Déjà Vu: Bitcoin Spikes to a New Record High, While Ether and Solana Rally Ahead of FOMC

Bitcoin has made a new all-time high, continuing its strong performance after Donald Trump won the U.S. presidential election. Ether outperformed by rising 8% in the last 24 hours ahead of Federal Reserve policymakers' meeting. Bitcoin {{BTC}...

Markets

Nov. 07, 2024

Ether, Touted as Internet Bond, May Top $3K on Fed Rate Cut, Outperform Bitcoin

The Fed rate cut will narrow the ether-Fed yield differential in favor of ETH. Ether could outperform bitcoin following an interest-rate reduction. The Ethereum blockchain's native token, ether {{ETH}}, a yield-bearing coin that has fallen ou...

Markets

Nov. 07, 2024

First Mover Americas: Bitcoin Holds Below $75K Before Expected U.S. Rate Cut

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,238.35 ...

Markets

Nov. 07, 2024

Donald Trump More Likely to Pardon Jan. 6 Protestors Than Silk Road Founder: Polymarket

Protestors from Jan. 6 are more likely to get a pardon than Silk Road founder Ross Ulbricht during a second Trump White House – but not by much – according to Polymarket bettors. Polymarket bettors are giving an 86% chance of January 6 prote...

Markets

Nov. 07, 2024

Bitcoin Registers Fourth-Best Day of 2024 as BlackRock ETF Posts Record Volume

Bitcoin rose more than 9% on Wednesday to claim a record high. BlackRock's IBIT exchange-traded fund saw its biggest volume traded since its introduction. U.S. spot-listed bitcoin ETFs saw over $620 million of net inflows. Bitcoin {{BTC}} po...

Markets

Nov. 07, 2024

This Metric Points to Rotation From Gold to Bitcoin

BTC/Gold registers its biggest single-day rise since February 2022. Renewed uptrend points to bitcoin outperformance ahead and potential rotation of money out of the yellow metal. A week ago, CoinDesk reported that bitcoin’s price rally is ex...

Markets

Nov. 07, 2024

Ether Surges 10% as Trump Victory Brings Back DeFi Bullishness

Ether saw a 10% increase in the last 24 hours, reaching over $2,800, while other cryptocurrencies experienced profit-taking. This surge is linked to optimism around DeFi following Trump's presidential win, where expectations of pro-crypto polic...

Markets

Nov. 07, 2024

What Next For Bitcoin After Trump Win? Traders Look to Fed Rate Cuts For Bullish BTC Move

Bitcoin hit a new all-time high of $76,000 following Donald Trump's election victory, reflecting a bullish market sentiment. The market anticipates a 0.25% Federal Reserve rate cut, which typically supports risk assets like Bitcoin by increasin...

Markets

Nov. 06, 2024

Bitcoin Blasts Past $76K for First Time as Violent Crypto Rally Liquidates Nearly $400M Shorts

Crypto assets kept climbing higher Wednesday after Donald Trump won the U.S. presidency, with bitcoin {{BTC}} blasting through $76,000 for the first time ever amid optimism the election will usher in a far friendlier environment for digital asset...

Markets

Nov. 06, 2024

How This Crypto Hedge Fund Nailed the Trump Trade

Donald Trump won the 2024 presidential election by a landslide. Whereas polls indicated the race was a tossup, crypto hedge fund Lekker Capital went full-in on the Republican candidate. The fund’s founder, Quinn Thompson, told CoinDesk how he ...

Markets

Nov. 06, 2024

Polymarket Projects a GOP House, Clinching Trump Trifecta

Polymarket, the crypto-based prediction market whose rise this year was vindicated by the presidential election results, is now signaling that the Republicans will almost certainly retain control of the House of Representatives. As of Wednes...

Markets

Nov. 06, 2024

Uniswap's UNI Token Soars 28% as Altcoins Outperform Following U.S. Presidential Election

Buoyed by the prospect of a friendlier regulatory environment, altcoins were the biggest advancers after crypto-friendly GOP candidate Donald Trump Tuesday evening won another term in the White House. The largest gainer by a wide margin was Unis...

Markets

Nov. 06, 2024

Polymarket Resolves Presidential Election Contract

Polymarket has resolved its Presidential election contract, a $3.6 billion market that brought prediction markets to the mainstream. The market was resolved just before 11 am eastern time, a few hours after the Associated Press and NBC called t...

Markets

Nov. 06, 2024

First Mover Americas: BTC Hit All-Time High as Trump Closed In on Victory

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,190.41 ...

Markets

Nov. 06, 2024

Crypto Equities Surge More Than 10% as U.S. Political Uncertainty Diminishes with Trump Victory

U.S. crypto equities are up double digits across the board as bitcoin climbed above $75,000 to a record. MicroStrategy is approaching a record high, adding 12% in pre-market trading. Disclaimer: The analyst who wrote this piece owns shares ...

Markets

Nov. 06, 2024

Bitcoin, Solana Hit New Cycle Highs Against Ether as Trump Edges Closer to U.S. Presidency

Bitcoin broke all-time highs on Donald Trump winning the U.S. presidential election. Solana continues to outperform ether, making a new cycle high. The total cryptocurrency market cap hit $2.45 trillion, the most since June. Bitcoin {{BTC}} ...

Markets

Nov. 06, 2024

Dogecoin Rockets 25% as Trump Nears Victory, Top Trader Signals More Gains Ahead

Dogecoin {{DOGE}} continued its winning weekly run, buoyed by a renewed Elon Musk endorsement, jumping over 25% in the past 24 hours and extending its 30-day gains to over 65% to making it the best-performing crypto major. Musk, who has publicly...

Markets

Nov. 06, 2024

Solana Jumps 17%, Flips BNB Chain Token, as Trump's Lead Renews ETF Hopes

The price of Solana's SOL increased by 17% within 24 hours due to heightened expectations for a Solana ETF, with potential listings from VanEck and 21Shares following Cboe's filings with the SEC in July. This optimism is fueled by expectations ...

Markets

Nov. 06, 2024

Bitcoin Rises Nearly 10% Against Mexican Peso as 'Trump Trade' Soars; Gold Stays Flat

BTC/MXN soars on Trump win possibility. Trump has said he would impose tariffs on Mexico of up to 100%. Gold trades flat as DXY and yields rise. The "Trump trade," which comprises of bullish bets in bitcoin {{BTC}}, the dollar index, and bet...

Markets

Nov. 06, 2024

Bitcoin Hits New Record Above $75K as Trump Dominates Early Voting

Bitcoin jumped to a new all-time high just above $75,000 on crypto exchanges Binance, Coinbase and others in Asian morning hours Wednesday as favorable election results for crypto-friendly Republican Donald Trump began to roll in. BTC was up 7.5...

Markets

Nov. 05, 2024

‘It’s So Early’: How Solana Is Competing With Ethereum for Institutional Interest

Solana has garnered notoriety for its meme coin connection. But financial institutions are also interested in using the network to build their products. While Solana is newer than Ethereum, it doesn’t face the same challenges when it comes to ...

Markets

Nov. 05, 2024

Bitcoin Price Crushing Altcoins Heading Into U.S. Election. Is There an Alt Rally Coming After?

Bitcoin's dominance over the crypto market rose to a fresh high of 60.6%, the strongest since April 2021, as smaller cryptos, including ETH and SOL, underperformed during the recent pullback. Altcoins' struggle against bitcoin could persist in ...

Markets

Nov. 05, 2024

Bitcoin Breaks Above $70K as Crypto and U.S. Stocks Move Higher Early on Election Day

Risk assets are on the rise as Americans head to the polls to elect their next president as well as to determine which political party will control the two houses of Congress. Bitcoin {{BTC}} crossed back above $70,000 early in the U.S. trading ...

Markets

Nov. 05, 2024

MicroStrategy's Ambitious $42B Bitcoin Acquisition Plan Is Not Without Risks, CoinShares Says

MicroStrategy's $42 billion bitcoin acquisition strategy has some risks, the report said. CoinShares said financing conditions need to remain favorable and there needs to be investor demand for the company's convertible debt. MicroStrategy is ...

Markets

Nov. 05, 2024

MakerDAO's Christensen Hopes for 'Firm Decision' as MKR Holders Vote on Sky Brand

MakerDAO community members are going to the polls to express their opinion on what to do with the Sky brand. In an interview with CoinDesk, MakerDAO founder Rune Christensen didn't express a strong opinion on the branding but rather said the co...

Markets

Nov. 05, 2024

First Mover Americas: Crypto Market Little Changed as U.S. Votes

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,997.20 ...

Markets

Nov. 05, 2024

Bitcoin Mining Difficulty Tops 100T for First Time, Piling Pressure on Small Miners

Bitcoin mining difficulty hits over 100T for the first time. The seven-day moving average hashrate reached a peak of 755 EH/s. The higher difficulty puts more pressure on small miners than larger ones. Bitcoin’s {{BTC}} mining difficulty ...

Markets

Nov. 05, 2024

Long Bitcoin Short Solana Preferred Tactical Trade Heading Into U.S. Election: 10X Research

A tactical trade heading into the election could involve going long Bitcoin and short Solana, 10x Research said. If Harris wins, the likelihood of these ETFs getting approved may decrease, potentially leading to a 15% drop in Solana, the firm a...

Markets

Nov. 05, 2024

Metaplanet Gains First Index Listing With Inclusion on CoinShares' BLOCK Index

Japanese investment adviser Metaplanet Inc. has been added to a global equity index for the first time. CoinShares added the company to its Blockchain Global Equity Index. Metaplanet adopted the strategy of holding bitcoin on its balance sheet...

Markets

Nov. 05, 2024

Dogecoin Rallies, Bitcoin ETFs Bleed Ahead of U.S. Elections

DOGE's increase is largely attributed to a renewed endorsement from Elon Musk linked to his proposal for a "Department of Government Efficiency" (D.O.G.E.). U.S.-listed spot bitcoin ETFs experienced net outflows, with significant withdrawals fr...

Markets

Nov. 05, 2024

Bitcoin Traders Wary of Price Drop in U.S. Election Week, CME Options Show

U.S. election uncertainty spurs demand for short-term protective measures put on the CME. Pricing for longer-duration options on both CME and Deribit signals a constructive outlook. Bitcoin {{BTC}} traders are seeking protection against price...

Markets

Nov. 05, 2024

BTC Drops Under $68K as Mt.Gox Sends $2.2B Bitcoin to Two Wallets

Mt. Gox moved of over 32,000 BTC ($2.2 billion) to new wallet addresses in preparation for future sales. The ongoing repayment plan, now extended to October 31, 2025, involves significant bitcoin transfers which affect market volatility. Bitc...

Markets

Nov. 04, 2024

Bitcoin Hits Record High Against BlackRock's U.S. Treasury ETF as Investors Search for Returns: Van Straten

BlackRock's long-term U.S. treasury bond ETF, TLT, has dropped 8% year-to-date against bitcoin, which is up 55%. U.S. Treasuries are considered a liquid, global reserve asset. Bitcoin dominance made new highs over the weekend at 60.56% of cryp...

Markets

Nov. 04, 2024

If U.S. Election Is Disputed, Prediction Markets Could Face 'Hornet's Nest'

At first blush, it looks redundant. The weekend before the U.S. presidential election, crypto-based prediction market Polymarket spun up a contract betting on who will be inaugurated as the next leader of the free world. As anyone who has p...

Markets

Nov. 04, 2024

First Mover Americas: BTC Little Changed as U.S. Election Enters Final Stretch

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,008.80 ...

Markets

Nov. 04, 2024

Bitcoin Likely to Rally After the U.S. Election, Irrespective of Who Wins, History Shows: Van Straten

Bitcoin is likely to top $100,000 after the U.S. election, if history is any guide. BTC is undervalued compared with previous cycles, measuring from either the cycle low or since the halving. Crypto markets are likely to remain volatile as ...

Markets

Nov. 04, 2024

Bitcoin Set for $6K-$8K Seesaw as U.S. Elections Enters Final Stretch: Analyst

The tight presidential race means the election could move BTC by $6,000 to $8,000, Amberdata's Greg Magadini estimates. DEX traders anticipate a bigger swing in ether. Market participants position for bullish volatility. Crypto traders await...

Markets

Nov. 04, 2024

Harris and Trump Bets Near Even Odds Ahead of U.S. Election Day as 'Voter Fraud' Rumors Swirl

Democrat nominee Kamala Harris has eaten away at Republican rival Donald Trump's lead on Polymarket. Polymarket still gives a significant premium to Trump's odds of winning compared to polls. Perceived winning odds of Democrat Kamala Harris c...

Markets

Nov. 03, 2024

Bitcoin Volatility Jumps to 3-Month High Ahead of U.S. Election

Deribit's bitcoin volatility index jumps to its highest since late July. Implied volatility in EUR/USD and U.S. Treasury notes surges to at least one-year highs. Markets price a significant risk premium around the impending U.S. elections. A...

Markets

Nov. 03, 2024

Bitcoin Pulls Under $68K as Crypto Markets Falter Ahead of Election

"Markets hate uncertainty," goes an old Wall Street saw. Just about 96 hours ago, the price of bitcoin {{BTC}} was within a few dollars of breaking through its all-time high above $73,700, perhaps helped along by a surge in momentum for crypto-f...

Markets

Nov. 01, 2024

Crypto Reverses Early Gains, Bitcoin Dives Back to $69K

A rally in cryptocurrencies was quickly snuffed out in the late morning hours in the U.S. as traders perhaps continued to take chips off the table following a big run higher over the past few weeks. Rising to as high as $71,400, bitcoin {{BTC}} ...

Markets

Nov. 01, 2024

Bitcoin Mining Revenue, Profit Fell in October for a Fourth Consecutive Month: JPMorgan

Daily mining revenue and gross profit fell in October for the fourth month in a row, the report said. The bank noted that daily block reward gross profit fell to the lowest point on recent record. Mining difficulty hit an all-time high in Octo...

Markets

Nov. 01, 2024

U.S. Added Just 12K Jobs in October, Far Short of 113K Expected

Just days ahead of the U.S. presidential election and Federal Reserve policy meeting, the government reported a marked weakening in the labor market last month, though it is unclear to what extent storms in the Southeast affected the data. The U...

Markets

Nov. 01, 2024

First Mover Americas: Bitcoin Pares Losses Following Thursday's Slump

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,062.17 ...

Markets

Nov. 01, 2024

MicroStrategy Remains One of the Best Ways to Gain Exposure to Bitcoin Given Its Intelligent Leverage Strategy: Canaccord

MicroStrategy is one of the best ways for equity investors to gain bitcoin exposure, the report said. Canaccord raised its price target for the company to $300 from $173, while maintaining its buy rating on the shares. The broker said it was b...

Markets

Nov. 01, 2024

Bitcoin's Drop on Thursday Spurred Panic Sales Among Short-Term Holders: Van Straten

On Thursday, short-term holders sent over $2 billion worth of bitcoin to exchanges at a loss, the most since the yen carry trade unwind on Aug. 5. In the past three days, short-term holders sent more than $6 billion worth of bitcoin to exchange...

Markets

Nov. 01, 2024

Harris Odds Rise on Polymarket as 'Election Fraud' Allegations Ramp Up Trump Hedge Bets

On Polymarket, Kamala Harris' odds of winning the U.S. presidential election have increased from 33% on Oct. 30 to nearly 39%. Donald Trump's have dropped 61%. The increase in Harris' odds might be due to traders hedging their bets, with trades...

Markets

Nov. 01, 2024

DeFi to Have ‘Walled Garden’ Moment as Internet of Money Matures: dYdX’s D’Haussy

DeFi today is where the internet was in the 1990s, and DeFi has a lot to learn from its growth. DeFi and CeFi both have different roles to play, and the market needs both he argues. HONG KONG -- Regulations and increasing demand for consolida...

Markets

Nov. 01, 2024

Bitcoin Price Drop Leads to $250M Bullish Liquidations; Crypto Sentiment Indicator Signals Top

Bitcoin prices dropped nearly 4% in the last 24 hours, moving from $72,500 to just above $69,000, with the overall crypto market cap decreasing by 5.5%. The Fear and Greed Index indicated "extreme greed" on Thursday, potentially signaling a mar...

Markets

Nov. 01, 2024

Justin Sun Wants More TradFi on Tron, Dogs Over Cats for Memecoins

In an interview with CoinDesk, Justin Sun explained why memecoins are more fair than VC-backed tokens, how traders are having better memecoin returns on HTX rather than Binance, and the importance of bringing Chainlink to Tron's DeFi ecosystem. ...

Markets

Oct. 31, 2024

Crypto Slumps Alongside Trump's Victory Odds on Polymarket as Uncertainty and Profit-Taking Rise

Bitcoin is down 1.9% in the last 24 hours, but the broader crypto market has suffered a far deeper decline. Trump’s Polymarket victory odds have also taken a beating and are now trading at 61 cents, compared to 67 cents on Wednesday. The price...

Markets

Oct. 31, 2024

Ether Tumbles 5.8%, Leading Large Crypto Losses, With Bitcoin Sliding Below $71K

Cryptocurrency prices and related stocks slipped across the board on Thursday as traders appeared to be paring longs following big runs higher. Once again failing a test of its record high above $73,700 overnight, bitcoin {{BTC}} slipped below $...

Markets

Oct. 31, 2024

First Mover Americas: Bitcoin Returns to $72.5K in Muted Market Activity

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,140.40 ...

Markets

Oct. 31, 2024

Robinhood Slumps After Third-Quarter Earnings Disappoint: Analysts

Robinhood shares tumbled more than 10% in premarket trading on Thursday following its third-quarter earnings report. JPMorgan said the negative reaction was unsurprising given the stock's outperformance this year. Broker JMP raised its Robinho...

Markets

Oct. 31, 2024

Coinbase Third-Quarter Revenue Misses Estimates; Shares Fall: Analysts

Coinbase third-quarter net revenue missed estimates. Institutional interest in the stock is growing as it becomes a more important component of various equity indices, JMP said. The U.S. presidential election is an important short-term catalys...

Markets

Oct. 31, 2024

Bitcoin Prices Take Breather as BTC ETFs Record Another Day of Monster Inflows

Bitcoin experienced profit-taking after a week of gains, dropping by up to 0.5% over 24 hours before recovering to stabilize just above $72,400. U.S. bitcoin ETFs saw significant inflows for a second day, with more than $893 million invested on...

Markets

Oct. 31, 2024

BlackRock's Entry Into Crypto Matters More Than U.S. Election, QCP Capital's Darius Sit Says

Darius Sit, QCP Capital's co-founder and chief investment officer, says BlackRock entering crypto is more important than Republican candidate Donald Trump re-taking the White House. A crypto-friendly White House would benefit the industry globa...

Markets

Oct. 30, 2024

Institutional Investors Position for Bitcoin Volatility Into the U.S. Election

A "huge uptick" in call option buying on CME bitcoin futures signals "very bullish positioning" into the election, Joshua Lim of Arbelos Markets said. Crypto credit markets also saw rising borrowing leading into the election expecting price vol...

Markets

Oct. 30, 2024

Degens Are Searching for Further Leverage on MicroStrategy and Winning Massively

Since launch, MicroStrategy-tracking ETF MSTU has surged 235% and rival MSTX has gained 176%. MSTX raised the leverage on its ETF from 1.75x to 2x to match MSTU's. MicroStrategy reports third-quarter earnings after the close of U.S. markets. ...

Markets

Oct. 30, 2024

Ether Gains 2.5%, Outperforming BTC and Maybe Primed for More Upside

Ether has bucked its recent trend of underperformance against bitcoin, rising by 2.5% in the past 24-hours whilst bitcoin has edged lower. $17 million worth of short bets on ether have been liquidated on derivatives exchanges. Continued negati...

Markets

Oct. 30, 2024

First Mover Americas: Bitcoin Little Changed After Teasing All-Time High

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,149.28 ...

Markets

Oct. 30, 2024

Bitcoin Approaches All-Time Highs as Daily OTC Desk Inflows Drop to Year's Lows: CryptoQuant

Sophisticated investors and high-net-worth individuals often use over-the-counter desks to execute trades without directly affecting the spot-market price. In the past five months, OTC desks have seen a rise of over 200,000 BTC, one of the high...

Markets

Oct. 30, 2024

Bitcoin Profit-Taking Continues as BTC Price Nears High. Is Bhutan Next to Sell?

The government of Bhutan deposited almost 1,000 bitcoin into a deposit address on crypto exchange Binance on Tuesday. The largest cryptocurrency surpassed $73,000 on Tuesday, approaching its record high, with many investors selling to lock in g...

Markets

Oct. 30, 2024

Bitcoin ETFs Record $870M Inflows as BTC Flirts With Lifetime Highs

U.S. spot bitcoin ETFs saw over $870 million in net inflows on Tuesday, with BlackRock's IBIT leading at $629 million. This surge in investments coincided with bitcoin's price nearing its all-time high, fueled by pre-election market volatility...

Markets

Oct. 29, 2024

Celestia's TIA Braces for Price Volatility Amid $900M Token Unlock

Some 175 million of locked up TIA will be released on Oct. 30 including to early investors, increasing the token's supply by 80%. The unlock may lead to "some pronounced effects," as the amount of released tokens is multiple times larger than t...

Markets

Oct. 29, 2024

Bitcoin Tops $73.5K, Climbing Just Shy of New Record High

Bitcoin on Tuesday pushed as high as $73,500, only about $300 below its all-time high set more than seven months ago. The world's largest crypto is now up nearly 75% year-to-date and has more than doubled from year-ago levels. The roaring succ...

Markets

Oct. 29, 2024

Crypto Stocks MicroStrategy, Coinbase and Marathon Post Just Modest Gains as Bitcoin Eyes Record High

Bitcoin is up 4.3% in the last 24 hours, rising to a five-month high. The top cryptocurrency benefited from $417 million in spot ETF inflows on Monday. Most crypto-related stocks have had big run-ups in recent weeks, perhaps leading to just te...

Markets

Oct. 29, 2024

Bitcoin Miner HIVE Poised to Double Its Hashrate by Next Year, Cantor Says Initiating Stock at 'Overweight'

HIVE Digital is expected to double its hashrate in the coming year, the report said. Cantor assumed coverage of the stock with an overweight rating and $9 price target. The broker said the market was underappreciating the company's prospects. ...

Markets

Oct. 29, 2024

First Mover Americas: BTC Jumps Above $71K, DOGE Leads Market Surge

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,144.30 ...

Markets

Oct. 29, 2024

Here Are Three Reasons Why Bitcoin Open Interest Set Record Highs as BTC Price Surge to $71K

Bitcoin futures' open interest on a one-day basis saw the biggest jump in 24 hours since June, an increase of over 20,000 BTC. Since Oct. 16, U.S listed spot ETFs have seen $2.7 billion of net inflows. Bitcoin {{BTC}}-tracked futures set a re...

Markets

Oct. 29, 2024

Dogecoin Bets Spike to $1.3B as Trump Popularity Sees DOGE Rocket 15%

Interest in Dogecoin futures is approaching all-time highs from April, with a 33% increase in open interest since Sunday, now standing at 8 billion tokens. Traders are attributing this price movement to Trump's popularity and the potential esta...

Markets

Oct. 29, 2024

Crypto.com Overtakes Coinbase to Dominate North American Crypto Trading, Data Shows

Crypto.com has seen spot trading volume soar to $134 billion in September from $34 billion in July - The Block. A report by Citigroup attributed crypto.com’s dominance partly due to the crypto ETFs. Digital asset trading on Crypto.com has e...

Markets

Oct. 29, 2024

Bitcoin Surges Above $71K as Wild Crypto Market Pump Sees $175M in Shorts Liquidated

Bitcoin surpassed $71,000 in Asian trading hours, with a 5% increase over 24 hours, leading to significant trading volume and the liquidation of over $143 million in short positions. The rally was partly driven by whale activity on Binance and ...

Markets

Oct. 28, 2024

Bitcoin Tops $70K for First Time in More Than Four Months

Bitcoin rose above $70,000 for the first time since June in the early evening U.S. hours on Monday. It remains about 5% below its record high around $73,700 from early March of this year. Rate cutting cycles among most major economies, renewed...

Markets

Oct. 28, 2024

Dogecoin Jumps 10%, Outperforming on Trump Popularity as Bitcoin Nears $70K

Bitcoin {{BTC}} rose to a three-month high on Monday, approaching the $70,000 level and moving to within about 5% of its record high of $73,700 from last March. BTC advanced 3% over the past 24 hours, changing hands at $69,800, while the CoinD...

Markets

Oct. 28, 2024

First Mover Americas: BTC Recovers From Friday's Slide to Reclaim $68.5K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,079.56 ...

Markets

Oct. 28, 2024

BTC Miner Core Scientific Uniquely Positioned to Capture AI Demand, Initiate at Buy: Jefferies

Jefferies initiated coverage of bitcoin miner Core Scientific with a buy rating and a $19 price target. The company is uniquely positioned to capture the recent trend of surging demand from AI companies, the report said. The company's mining o...

Markets

Oct. 28, 2024

MicroStrategy’s Current Premium Relative to Its Bitcoin Stack Is Unlikely to Last: Steno Research

MicroStrategy's almost 300% premium to its bitcoin holdings is unsustainable, the report said. The positive effects of the company's recent stock split are wearing off and the launch of options on spot bitcoin ETFs will also lessen demand, Sten...

Markets

Oct. 28, 2024

Arthur Hayes' Maelstrom Hedges U.S. Election Uncertainty With Staked USDe; Holds Large BTC, ETH Bullish Bets

Maelstrom has parked 5% of its funds in staked USDe, Hayes told CoinDesk in an email interview. The fund will rotate that money into crypto after the election results are clear and the losing side accepts the defeat, Hayes added. It doesn't ma...

Markets

Oct. 28, 2024

Bitcoin Has a Lot Going for It, Except the Persistent Slide in Copper-Gold Ratio

The widely-tracked copper-to-gold ratio continues to slide in the wake of China's stimulus announcements, offering negative cues to risk assets. BTC's best years have been characterized by copper's outperformance relative to gold. From the in...

Markets

Oct. 25, 2024

Crypto Rally Foiled by Report of DOJ Probe of Tether

Cryptocurrency prices have reversed early gains and are broadly lower during U.S. afternoon hours on Friday following a Wall Street Journal report that the U.S. is probing stablecoin issuer Tether for violations of sanctions and anti-money laun...

Markets

Oct. 25, 2024

Tokenized Treasuries Like Blackrock's BUIDL Will Challenge Stablecoins But Won't Fully Replace Them: JPMorgan

Tokenized treasuries won't fully replace stablecoins, JPMorgan said. Stablecoins have a regulatory advantage because they are not classified as securities, the report noted. Liquidity in stablecoins is also much higher than tokenized treasurie...

Markets

Oct. 25, 2024

First Mover Americas: Bitcoin Falls Back Below $68K, Still Outperforms Broader Market

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,081.93 ...

Markets

Oct. 25, 2024

MicroStrategy Touches New Highs as Trading Volume Relative to Nvidia Surges

MicroStrategy’s trading volume reached 17.65% of Nvidia's in October, despite its market cap being only 1.5% of the chip giant. MicroStrategy is just 8% away from reaching a $50 billion market cap valuation. Disclosure: The author of this s...

Markets

Oct. 25, 2024

The Popular $100K Year-End Goal for Bitcoin Has Less Than 10% Probability in Options Market

The way BTC options trading on Deribit are currently priced suggests a 9.58% chance of prices rising above $100,000 by Dec. 27. The possibility of prices rising to $82,000 is higher, according to one observer. Options market probabilities can ...

Markets

Oct. 25, 2024

Bitcoin Liquidity Could Flow to Cardano Ecosystem With New BTC Bridge

Bitcoin rollup protocol BitcoinOS said its Grail bridge was going live for the Cardano network on Thursday, opening the floodgates for capital from Bitcoin flowing into the Cardano ecosystem. EMURGO, a founding entity of Cardano, will be amon...

Markets

Oct. 25, 2024

Polymarket Trader Betting on Donald Trump Win Ends Up Getting 99% Odds

An individual or entity caused a brief mispricing on Polymarket by buying over 4.5 million Trump contracts for the 2024 Presidential Election, pushing the odds to 99% for a portion of the purchase due to the mechanics of the order book. This an...

Markets

Oct. 24, 2024

Bitcoin Climbs 3% to Retake $68K With Solana Outperforming, Ether Showing Relative Weakness

Cryptocurrencies rallied after three days of modest downward action, with the CoinDesk 20 bouncing 2.7% in the last 24 hours. Solana's market cap dominance is approaching all-time highs at 3.70%. Crypto-related stocks gained as well, with Micr...

Markets

Oct. 24, 2024

Bitcoin ETFs Will Soon Hold 1M Tokens, Nearly as Much as Satoshi

Spot bitcoin exchange-traded funds will soon hold over one million BTC. The funds recorded one of their biggest week of inflows last week, taking in over $2.1 billion in just five days. BlackRock's iShares Bitcoin Trust (IBIT) could soon cross...

Markets

Oct. 24, 2024

As 'Sentient Memecoins' Become Latest Crypto Fad, GOAT Surges to $800M and an AI Rambles

The AI bot Terminal of Truths on X has popularized the GOAT memecoin, which saw its market cap soar from $3 million to about $800 million, driven by social media interactions and the bot's endorsements. Despite the hype around "sentient" AI bot...

Markets

Oct. 24, 2024

First Mover Americas: BTC Rebounds to $67K After Subdued U.S. Economic Data Reading

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,064.97 ...

Markets

Oct. 24, 2024

Solana Looks Overbought Against Ethereum; BTC-Gold Ratio Stuck in a Downtrend

SOL/ETH trading on Binance looks overbought, as per the RSI. BTC/Gold ratio has turned lower from a downtrend resistance. The solana-ether (SOL/ETH) spot pair trading on Binance has surged over 15% since Oct. 1, extending the three-month winn...

Markets

Oct. 24, 2024

Gold Rally Needs to Pause for Bitcoin Price to Break All-Time High, Data Suggests

Gold led bitcoin higher in 2020, setting record highs in August 2020. BTC followed suit in December. Gold has seen over 1 million ounces of inflows into its ETF products in the past seven trading days, the highest amount since October 2022. U....

Markets

Oct. 24, 2024

Bitcoin Trader Warns of Correction as BTC Dominance Reaches 2021 Levels; Solana Leads Market Gains

While bitcoin and other major cryptocurrencies showed minimal movement, Solana's SOL token surged by 5% to $173, leading the market gains with a 14% increase over the week. Bitcoin's market dominance reached over 57%, the highest since April 20...

Markets

Oct. 24, 2024

Institution Takes $25M Hedge Bet on Derive's Bitcoin Options Market as U.S. Election Looms

The institution set up a multi-legged strategy in Derive's onchain options market, generating $25 million in volume. The strategy will make the most profit if BTC rises to $80,000 by the end of November. As the U.S. election nears, increased ...

Markets

Oct. 24, 2024

Bitcoin Retakes $67K, Dollar Index Rally Stalls as Beige Book Supports Fed Rate Cuts

Beige Book bolsters hope for quarter-point Fed rate cuts in November and December. The rally in the DXY stalled after the Beige Book report, paving the way for BTC recovery. Bitcoin {{BTC}} is back above $67,000 as the Federal Reserve's (Fed)...

Markets

Oct. 24, 2024

Number of Bitcoin Whales Jumps to Highest Since January 2021

The spike in the number of whales strengthens the case for a rally to record highs. Retail investor accumulation has recently slowed, according to CryptoQuant. The number of large bitcoin holders is growing again, boosting the case for a pric...

Markets

Oct. 23, 2024

Bitcoin Slides to $66K, Ether Dives 5% in Market-Wide Selloff

Cryptocurrencies fell today alongside the broader stock market. Among major tokens, ether fared particularly poorly, falling 5%. SOL/ETH notched a new all-time high, while ETH/BTC made new lows. Cryptocurrencies bled lower on Wednesday along...

Markets

Oct. 23, 2024

Trump Polymarket Odds Briefly Dip After His No. 2 Bull Adds Bet on Harris

Donald Trump's odds on Polymarket of winning the U.S. presidential election temporarily dipped Wednesday after the prediction market's second largest holder of "yes" shares in a victory for the Republican nominee placed bets on his opponent. Th...

Markets

Oct. 23, 2024

Solana Hits Record vs. Ether, Outperforms Bitcoin as AI Memecoin Frenzy and Surging Revenues Fuel Rally

Solana's SOL has outperformed ether (ETH) and bitcoin (BTC) as blockchain activity is booming on the network. The latest memecoin trend of artificial intelligence agents promoting and investing in tokens is mostly centered on Solana. Open inte...

Markets

Oct. 23, 2024

First Mover Americas: BTC's Fall Below $67K Prompts Broad Market Dip

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,055.12 ...

Markets

Oct. 23, 2024

Musk’s Tesla Still Holds $780M Bitcoin, Arkham Says, Ahead of TSLA Earnings

Tesla moved nearly its entire Bitcoin stash, worth nearly $780 million, to new wallets last week, causing some market volatility, but the BTC remains unsold and is believed to still be owned by Tesla. Bitcoin has been redistributed into several...

Markets

Oct. 23, 2024

Bitcoin Mining Difficulty Hits All-Time High as Mining Revenue Rises; Signals Upcoming Bull Run

Bitcoin difficulty hits an all-time high of 95.67T, which coincides with a record hashrate that went above 700 EH/s for the first time. The 3.9% jump in difficulty becomes the 13th positive adjustment for 2024. Once the 365-SMA total miner rev...

Markets

Oct. 23, 2024

DOGE, XRP Lead Crypto Majors Decline as Bitcoin ETFs Bleed $80M

Bitcoin failed to sustain a rally towards $70,000, influencing a broader market decline where the CoinDesk 20 index also fell by nearly 2%. U.S.-listed Bitcoin ETFs saw a break in their inflow streak with a net outflow, suggesting a shift in in...

Markets

Oct. 23, 2024

As Bitcoin Nears Golden Cross, Concerns About Rising Treasury Yields Look Overhyped

Concerns about rising U.S. Treasury yields and Fed's supposed policy mistake may be overblown, according to TS Lombard. BTC's daily chart shows an impending golden cross, signaling bullish outlook. Bitcoin's {{BTC}} latest failure to surpass ...

Markets

Oct. 23, 2024

MakerDAO Contemplates Dropping Sky Brand as Community Debates

MakerDAO's community is set to debate dropping the Sky brand. A formal governance poll is scheduled for November 4. MakerDAO is contemplating dropping the Sky brand after a lukewarm reception to the re-brand and a successful launch of the USD...

Markets

Oct. 23, 2024

Bitcoin Is Going to $80K Regardless of Trump or Harris Win, Traders Say

Crypto options traders are increasing their bets that bitcoin will touch fresh highs by the end of November, per Bloomberg. Options due to expire on November 8 have their highest open interest at the $75,000 strike price, indicating a key marke...

Markets

Oct. 22, 2024

Paul Tudor Jones: 'All Roads Lead to Inflation;' He's Long Bitcoin and Gold

The U.S. will need to inflate and outgrow its debt burden, Paul Tudor Jones said in a CNBC interview. He recommended owning a basket of gold, bitcoin, commodities and Nasdaq, and staying away from fixed income. Ballooning U.S. debt is at an u...

Markets

Oct. 22, 2024

Solana Token Issuer Pump.Fun Rakes in Big Bucks With 1M SOL in Lifetime Fees

Solana token issuer Pump.Fun is nearing 1 million SOL token in lifetime fees, with over 2.5 million tokens launched using the service since its early March release. Over 5,550 addresses issued 7,500 tokens in the past 24 hours alone, data sh...

Markets

Oct. 22, 2024

First Mover Americas: BTC Revisits $67K on Leverage Flush, APE Options Fly

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,083.25 ...

Markets

Oct. 22, 2024

Bitcoin’s $4.2B October Options Expiry May Increase Short-Term Volatility

October's expiry is due Friday at 08:00 UTC, with $4.2 billion in options expiry for bitcoin and over $1 billion for ether. Bitcoin has a higher put/call ratio than ether, which indicates a more bullish sentiment as we approach options expiry. ...

Markets

Oct. 22, 2024

Stripe's Acquisition of Bridge Validates the Usage of Stablecoins: Bernstein

The Bridge deal validates the use of stablecoins on public blockchains, the report said. Bernstein said stablecoins are now the cheapest method of cross-border payments. The broker noted that this is the largest crypto acquisition by a major p...

Markets

Oct. 22, 2024

APE Traders Make Bold Moves in PowerTrade's Altcoin Options Market

Traders pile into APE calls options on the altcoin-focused derivatives exchange PowerTrade. Some traders bought the call option at $2.2, representing bullish expectations. APE ecosystem's governance and utility token APE has doubled in value ...

Markets

Oct. 22, 2024

Bitcoin, Majors Dip on Leverage Flush; CAT Token Runs Up 60% on Futures Listing

Bitcoin briefly approached $70,000 over the weekend but failed to maintain the momentum, dropping by 2.2% to just above $67,000. This decline was mirrored by other major cryptocurrencies like ETH, TON, and ADA, with over $165 million in long po...

Markets

Oct. 21, 2024

U.S. Election Betting: Kalshi's Polymarket Rival Quickly Gets Traction

This week in prediction markets: Presidential betting passes $30 million on Kalshi. Trump name-drops Polymarket – or tried to, anyway. Arb opportunity? There's a discrepancy between Polymarket's individual swing state markets and a contract a...

Markets

Oct. 21, 2024

Bitcoin Pulls Back Below $67K; Is Another Crypto Rally Failing?

Following a failed challenge of the $70,000 level during early Monday trading hours in Asia, bitcoin {{BTC}} fell below $67,000 in U.S. morning action. Recently, bitcoin's price was lower 2.3% over the past 24 hours, underperforming the broad-ma...

Markets

Oct. 21, 2024

First Mover Americas: BTC Peeps Above $69K as Macro Favors Bulls

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,119.85 ...

Markets

Oct. 21, 2024

Bitcoin Hashrate Hits All-Time High as Publicly-Listed Miners' Share of the Network Peaks

The bitcoin hashrate has surpassed 700 EH/s for the first time, marking a 6% increase over the past seven days. Bitcoin's hashprice briefly went above $50 PH/s, a two-month high, as mining profitability increased driven by a spike in transactio...

Markets

Oct. 21, 2024

Bitcoin Nears $70K Amid Record Open Interest at $40B as Trump-Harris Election Nears

Bitcoin's price rose by 1.5% in 24 hours, with significant increases in futures open interest, indicating continued money flow into the market. The crypto market saw broad gains with Solana (SOL) and other major cryptocurrencies rising, fueled ...

Markets

Oct. 21, 2024

ApeCoin Surges 100% as Yuga Labs Debuts ApeChain

APE has hit the highest since April. The much-awaited ApeChain went live Sunday, bringing native staking yield to APE holders. ApeCoin (APE), the Bored Ape Yacht Club (BAYC)-affiliated ERC-20 cryptocurrency used for governance and transaction...

Markets

Oct. 21, 2024

Bitcoin Gets Yet Another Bullish Signal as Prices Near $70K

A widely-tracked momentum indicator has flipped bullish for the first time since April. A similar bullish flip happened at the onset of the late 2023 rally and in late 2022, marking the end of a brutal downtrend. A bitcoin indicator that wa...

Markets

Oct. 18, 2024

ONDO Spikes 8% as Major Derivatives Exchanges Mull BlackRock's BUIDL as Collateral Option

BlackRock is in early talks to list its tokenized money market fund as collateral for derivatives trading on exchanges including Binance, Deribit and OKX, Bloomberg reported. Ondo's governance token spiked to 79 cents before paring gains, still...

Markets

Oct. 18, 2024

MicroStrategy's 'Nav Premium' Shouldn't be Feared, Says Benchmark, Raising Price Target to $245

Benchmark has raised its price target for MicroStrategy's stock from $215 to $245. Analyst Mark Palmer argued the value of the company's bitcoin holdings and its software business will continue to increase. He also believes that the company's ...

Markets

Oct. 18, 2024

Bitcoin Isn't at a Record Like Gold and S&P 500, but an Overlooked Catalyst Suggests a Coming Change

Gold has made another all-time high, climbing through $2,700 per ounce, as has the S&P 500, which rose above 5,870 on Thursday. While bitcoin is up 15% from the October low and appears set to rechallenge the $70,000 level, it remains about ...

Markets

Oct. 18, 2024

First Mover Americas: BTC Flirts With $68K Amid ETF Inflows

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,056.00 ...

Markets

Oct. 18, 2024

Republican Sweep in U.S. Election Would be the Most Bullish Outcome for Coinbase and the Crypto Market: Citi

A potential Republican sweep of both chambers of Congress would be the most bullish result for Coinbase and crypto markets, the report said. Citi said a Harris win and a divided Congress would lead to more uncertainty for the digital assets spa...

Markets

Oct. 18, 2024

DOGE/BTC Bear Trend Intact After Dogecoin's 24% Weekly Gain

DOGE/BTC lingers at the depth of a prolonged bear market, undercutting any notion of speculative frenzy. The ratio's present price pattern resembles late 2020. Dogecoin's (DOGE), the world's leading meme cryptocurrency by market value, has...

Markets

Oct. 18, 2024

Global Bitcoin ETPs Register Biggest Seven-Day Inflow Since July

On a seven-day basis, bitcoin ETPs have seen 25,675 BTC ($1.74 billion) in net inflows, the biggest since July. Since Oct. 14, bitcoin ETFs have seen approximately $1.9 billion (21,450 BTC) in net inflows. On Oct. 17, ether saw $48.4 million i...

Markets

Oct. 18, 2024

Dogecoin Jumps 7% as Musk Touts D.O.G.E at Trump’s Pennsylvania Campaign

Elon Musk discussed plans for a "Department of Government Efficiency" (D.O.G.E), leading to a 7% surge in Dogecoin's price, pushing it over 13 cents for the first time since late July. Musk's backing of Trump and the potential political implica...

Markets

Oct. 18, 2024

'High-Risk' Crypto Loans Surge to a Two-Year High of $55M

The total amount of crypto-collateralized loans within 5% of their liquidation price is at its highest in over two years, according to IntoTheBlock. The surge in the so-called high-risk loans indicates potential liquidation cascades and market ...

Markets

Oct. 17, 2024

Staked Ether Is Creating a Benchmark for the Crypto Economy, Says ARK Invest

It’s hard for projects to beat the returns offered by staked ether on a risk-adjusted basis. Consequently, the asset and its yield are becoming a benchmark for the crypto economy in similar fashion to the fed funds rate and the traditional econ...

Markets

Oct. 17, 2024

Four Reasons Elon Musk’s Tesla May Have Moved $760M of Bitcoin

Some bitcoin traders were spooked as Tesla on Wednesday moved its BTC stash for the first time in over two years. So far, though, none of the bitcoins have apparently made it to exchange wallets or were swapped for stablecoins. Here's some rea...

Markets

Oct. 17, 2024

Ongoing Profit-Taking Could Slow Bitcoin's Move To Record High

The last time the DXY index was above 103, it was during the Yen carry trade unwind back on Aug. 5 when bitcoin dropped to $49,000. Over 94% of the bitcoin circulating supply is now sitting in profit, historical data tell us profit-taking shoul...

Markets

Oct. 17, 2024

First Mover Americas: Bitcoin Recedes to $67K as Crypto Market Sees Slight Dip

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,039.00 ...

Markets

Oct. 17, 2024

GraFun Starts Labs Division to Boost Memecoin Ecosystem on BNB Chain

GraFun, a memecoin launchpad on the BNB Chain, has introduced GraFun Labs aimed at fostering growth in the meme ecosystem through partnerships with DWF Labs and Floki. GraFun Labs will assist new memecoin projects with a unique narrative throug...

Markets

Oct. 17, 2024

deBridge Token Goes Live With DBR Airdropped to 491K Wallets

deBridge's governance token, DBR, launched with an airdrop distributed to nearly half a million early users and community members. The token, based on Solana, has an initial circulation of 1.8 billion out of a maximum 10 billion supply. Recipie...

Markets

Oct. 17, 2024

Coinbase Says Bitcoin Liquidity on Exchange Unfazed After SEC's Lawsuit Against Cumberland

Coinbase and Cumberland downplay reports of a decline in BTC market liquidity. Kaiko pointed to a notable drop in 2% BTC market depth on Coinbase in a report early this week. Trading conditions on Coinbase (COIN) remain stable, the Nasdaq-lis...

Markets

Oct. 17, 2024

Kalshi Research Finds 'Widespread Evidence' of Strong Republican Momentum in U.S. Elections

A market research report from Kalshi shows that there's strong Republican momentum going into the last weeks of the campaign. Meanwhile many are suspicious of the motivation of one of the largest holders of the pro-Trump side on Polymarket's el...

Markets

Oct. 17, 2024

Asian Private Wealth Managers Embrace Crypto, Some Foresee Bitcoin at $100K By Year-End

A notable 76% of family offices surveyed during the second half of this year have crypto exposure, according to a report authored by Aspen Digital. DeFi, AI, and DePin are key areas of interest. Private wealth is long-term bullish on crypto, e...

Markets

Oct. 17, 2024

Bitcoin Demand Surges in Bullish Catalyst That May Drive BTC Price to $70K

Many signs are pointing to BTC hitting $70K in the near future, from technical market data to prediction market betting. Inflows into the U.S. BTC ETFs continue to be significant with $458.5 million inflow during the Wednesday trading day. Bi...

Markets

Oct. 16, 2024

Donald Trump-Supported World Liberty Financial Raises Just 4% of Token Sale Target on First Day

The project has raised $11 million so far, falling short of the $300 million target. The tokens are non-transferrable which could have deterred speculative investors Trump's announcement of the project on X failed to create a notable spike in ...

Markets

Oct. 16, 2024

Dogecoin Price Surges 10% as Elon Musk’s 'Department of Government Efficiency' Gains Traction

Dogecoin's price increased by 10% in 24 hours, reaching over 12 cents, driven by social media buzz on X and speculation about further endorsements from Elon Musk. Elon Musk's $75 million donation to a political action committee supporting Donal...

Markets

Oct. 16, 2024

U.S.-Listed Bitcoin Miners Hit Record 29% of Network Hashrate in October: JPMorgan

JPMorgan said the combined hashrate of the publicly listed bitcoin mining stocks it tracks now accounts for a record 28.9% of the network hashrate. The bank noted that the network hashrate has risen 4% this month, while mining profitability inc...

Markets

Oct. 16, 2024

Bitcoin Tops $68K, With Dominance Over Crypto Market Hitting New Cycle High

Bitcoin dominance reaches a new cycle high of 58.91%, a level last seen in April 2021. A major factor in rising bitcoin dominance is ether's relative underperformance. The cryptocurrency market as a whole continued moving higher on Wednesday,...

Markets

Oct. 16, 2024

First Mover Americas: Bitcoin Moves Above $68K Amid Renewed Bullishness

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,066.01 ...

Markets

Oct. 16, 2024

Open Interest on CME Bitcoin Futures Hits All-Time High, Signals Further Bullishness

Bitcoin futures open interest on the CME exchange has hit an all-time high of 172,430 BTC ($11.6 billion). Over the past five trading days, CME bitcoin futures have seen an increase of 25,125 BTC, marking one of the highest recorded changes in ...

Markets

Oct. 16, 2024

Bitcoin's Inverse Ties With Dollar Index Challenged as U.S. Election Looms

Options show a bullish near-term bias for BTC and USD. Rising odds of a potential Trump victory have galvanized demand for BTC upside exposure. Historically, bitcoin {{BTC}} has largely maintained a negative correlation with the dollar index ...

Markets

Oct. 15, 2024

Trump Touts New Crypto Token After Initial Sales Are a Dud

U.S. Republican presidential candidate Donald Trump took to the social-media platform X to tout World Liberty Financial, a new crypto project promoted by his family, after initial sales of the platform's new WLFI tokens fell well short of the tar...

Markets

Oct. 15, 2024

Why the $172B Stablecoin Market Could Send Crypto Prices Higher

Stablecoin market capitalization is almost back to its all-time high. That means there’s a lot of sidelined capital ready to be deployed when momentum picks up again, according to analyst Alice Liu. Liu compared stablecoins to Berkshire Hathaw...

Markets

Oct. 15, 2024

Bitcoin Jumps to Just Shy of $68K, Highest Since Late July

The price of bitcoin {{BTC}} quickly popped higher during early morning U.S. trading hours on Tuesday, rising to levels not seen since late July. At press time, the world's largest crypto was trading at $67,500, ahead 3.7% over the past 24 hours...

Markets

Oct. 15, 2024

Trump Family's World Liberty Finance Token Sale Appears to Go Live, Selling 220M WLFI in Minutes

An anticipated token sale for the Trump family-backed World Liberty Financial appears to have gone live on the platform, site data shows. The sale went live on 12:40 UTC, with over 220 million of the platform's WLFI tokens sold in the first twen...

Markets

Oct. 15, 2024

First Mover Americas: Bitcoin Takes Bull Breather

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,043.76 ...

Markets

Oct. 15, 2024

Cash-Margined Bitcoin Futures are More Popular Than Ever as Open Interest Reaches New Highs

Bitcoin Futures open interest is nearing all-time highs, currently valued at approximately 478k BTC ($31.8 billion). Open interest in cash-margined futures has reached an all-time high of 384k BTC ($25.5 billion), driven primarily by institutio...

Markets

Oct. 15, 2024

CME's Bitcoin Friday Futures Are Ideal for News Traders: CF Benchmarks

News-driven traders can set targeted strategies with CME's Bitcoin Friday futures (BFF) contracts. The weekly expiry limits basis and caps rollover costs, facilitating improved profitability. Chicago Mercantile Exchange's (CME) bitcoin {{BT...

Markets

Oct. 15, 2024

Bitcoin ETF Daily Inflow Hits $556M as BTC Appears Primed for Breakout

BTC posted inflows of $555.86 during the Monday trading day, which is a multi-month high. Traders are becoming increasingly optimistic that BTC will challenge its all-time high by the end of the year. Bitcoin {{BTC}} exchange-traded funds (ET...

Markets

Oct. 15, 2024

This Chart Indicates Bitcoin May Be Headed For Record Highs Above $73K

BTC's "three-line break chart" suggests a bullish resolution of the seven-month-long corrective trend and scope for a move to record highs. Candlesticks indicate stiff resistance at around $70,000. Traders fixated on bitcoin's {{BTC}} daily c...

Markets

Oct. 14, 2024

Does World Liberty Financial Count as Trump 'Launching a Coin'? Polymarket Bettors Are Divided

This week in prediction markets: Is Donald Trump really "launching a coin"? Some Polymarket bettors say shilling World Liberty Financial doesn't count. Are PoliFi tokens surging because of limited upside in prediction markets? Canada's Justin...

Markets

Oct. 14, 2024

Liquidity and Options Pave the Way for Bitcoin ETF Market Expansion

Bitcoin ETFs have recorded a total net inflow of $18.9 billion and currently hold around 869k BTC. Bitcoin ETFs account for approximately 3% of the total bitcoin trading volume. A portion of the inflows into bitcoin ETFs is driven by the "basi...

Markets

Oct. 14, 2024

Bitcoin Breaks $65K, as Price Action Compared to Prior U.S. Election Cycles

Bitcoin (BTC) climbed above $65,000, marking a 4% increase in 24 hours, influenced by positive movements in the S&P 500 and expectations of stimulus in China. Trading firm QCP Capital highlighted similarities between current price actions a...

Markets

Oct. 14, 2024

Trump-Backed World Liberty Financial Whitelists 100K Accredited Investors Ahead of WLFi Launch

The Trump family-backed crypto project, World Liberty Financial, is set to launch its WLFI token presale on Tuesday, with over 100,000 accredited U.S. investors whitelisted. The project aims to raise $300 million, valuing the venture at $1.5 bi...

Markets

Oct. 14, 2024

First Mover Americas: Bitcoin Nears $65K as Chinese Stocks Rebound

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,011.66 ...

Markets

Oct. 14, 2024

Samara Asset Group Plans up to $32.8M Bond to Expand Bitcoin Holdings

The bond proceeds will fund acquisitions in alternative investment funds and increase Samara's bitcoin position. The 30 million euro ($32.78 million) bond will be listed on both the Oslo and Frankfurt stock exchanges with a minimum subscription...

Markets

Oct. 14, 2024

Altcoin Selling Pressure Looms as $500M in Token Unlocks Scheduled This Week

Approximately $500 million in various cryptocurrencies are scheduled for unlock, potentially impacting their market due to increased supply. The unlocked tokens will be distributed to team members and investors for ecosystem development, with s...

Markets

Oct. 14, 2024

Trump's New Administration Would Support Strong Dollar, Economic Advisor Says

A potential Trump administration is unlikely to devalue the dollar deliberately, Trump's go-to man on economics Scott Bessent told Financial Times. Trump's inflationary-imports tariffs plan will be eventually watered down, Bessent added. A ne...

Markets

Oct. 14, 2024

Australia’s First Spot Ether ETF to Go Live on Tuesday

Australia will launch a spot ether ETF following the launch of a spot Bitcoin ETF in August. The ETF will allow in-kind and cash redemptions. Monochrome will launch Australia’s first spot ether {{ETH}} exchange-traded fund (ETF) on Tuesday. ...

Markets

Oct. 14, 2024

Bitcoin Begins the Week on a High, Jumps Above $64K

Bitcoin climbed above $64,000, with other major cryptocurrencies like ether and Solana's SOL also gaining, although XRP and BNB remained unchanged. Over $100 million in short positions were liquidated due to the price jump. Memecoins like Mog a...

Markets

Oct. 14, 2024

Ethena Labs Proposes SOL for USDe's Collateral

Ethena Labs has proposed to the USDe community that SOL be added to its mix of collateral. USDe is unique insofar that it maintains $1 peg with collateral, hedged trades, and risk-managed reserves. Ethena Labs, the entity responsible for deve...

Markets

Oct. 12, 2024

Bitcoin Takes Another Shot at $63.5K as China's Vague Fiscal Stimulus Deters Capital Shift

BTC revisits Friday's high above $63,000, maintaining the positive momentum. China's highly-anticipated stimulus announcement fell short of expectations, suggesting a low probability of continued outflows into China-linked assets. Bitcoin mad...

Markets

Oct. 11, 2024

Bitcoin Bounces 7% Above $63K as Crypto Traders Eye China Stimulus Statement

Cryptocurrencies sharply rebounded on Friday from the previous day's lows with bitcoin {{BTC}} retaking $63,000 as investors quickly shrugged off worries over slightly hotter inflation readings, turning their attention to a fiscal policy update f...

Markets

Oct. 11, 2024

Arkham's Token Soars 16% on Report Sam Altman-Backed Crypto Firm Plans Derivatives Exchange

Blockchain data company Arkham Intelligence's token ( ARKM ) surged 16% on Friday on a report that it plans to launch a crypto derivatives exchange next month. Arkham's trading venue aims to target retail users and compete with other derivatives...

Markets

Oct. 11, 2024

Mt. Gox Postpones Repayment Deadline to 2025, Allaying Concerns of Bitcoin Sell Pressure

The Mt. Gox trustee postponed the deadline to repay creditors by one year to October 31, 2025. The delay "could assuage near-term concerns around supply overhangs," Coinbase analysts said. The trustee managing the assets of Mt. Gox postponed ...

Markets

Oct. 11, 2024

First Mover Americas: Bitcoin Trims Thursday's Inflation-Led Losses

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,908.58 ...

Markets

Oct. 11, 2024

Bitcoin on Track for Record Sideways Action, With Eyes on November Elections as Bullish Catalyst

Bitcoin is nearing the record for the longest sideways market range post-halving, currently at 285 days since the last halving in April. Factors like U.S. election uncertainty, rising U.S. Treasury yields, and the extension of Mt. Gox's repayme...

Markets

Oct. 11, 2024

Trump-Themed PoliFi Tokens Buck Bitcoin Downtrend as China Stimulus Hopes Return

Trump-themed PoliFi tokens outperformed a slow market this week as the Republican candidate pulled ahead of Kamala Harris on Polymarket. Crypto traders in Asia are eagerly awaiting Beijing's next moves as the People's Bank of China (PBoC) prepa...

Markets

Oct. 10, 2024

Trump's Lead Over Harris Widens on Polymarket's Prediction Market

Donald Trump's odds of winning the U.S. presidential election have surged to a more than two-month high on the leading prediction market, Polymarket. Traders are giving the former president a 55.8% shot versus Vice President Kamala Harris' 43.8%...

Markets

Oct. 10, 2024

Four Reasons Ether ETFs Have Underperformed

Spot ether ETFs have failed to attract the same kind of demand as spot bitcoin ETFs. But that was a tall order, considering how immensely popular the bitcoin products have been. Headwinds include the lack of staking yield in the ETFs and a di...

Markets

Oct. 10, 2024

Bitcoin Tumbles Below $59K Amid Inflation Worry, Regulatory Onslaught on Crypto

Crypto prices are sharply lower on Thursday, led by bitcoin's 4% decline. A re-acceleration in inflation pressure in September initially sent markets lower. Declines grew after an SEC lawsuit against digital asset market maker Cumberland DRW. ...

Markets

Oct. 10, 2024

Nearly 50% of U.S. Investors Plan to Invest in Crypto ETFs: Charles Schwab Survey

U.S. investors are very much keen on investing in exchange-traded funds (ETF) that hold cryptocurrencies, a new survey commissioned by financial services giant Charles Schwab showed on Thursday. Some 45% of respondents said they plan to inve...

Markets

Oct. 10, 2024

U.S. September CPI Disappoints, Rising a Faster Than Expected 0.2%

The CPI rose 0.2% in September and the core CPI rose 0.3%, both numbers stronger than anticipated The data reinforces the notion that not only will the Fed not cut rates 50 basis points in November, but might chose to not trim rates at all. Al...

Markets

Oct. 10, 2024

First Mover Americas: Bitcoin Returns to $61K Ahead of September CPI Report

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,887.55 ...

Markets

Oct. 10, 2024

Bitcoin, Ether Nurse Losses as Dollar Strengthens Ahead of U.S. Inflation Report

BTC, ETH recover from overnight lows, but remain in the red on a 24-hour basis. The rallying dollar might be weighing on the crypto market, according to one analyst. A hotter-than-expected U.S. inflation report would weaken the case for Fed ra...

Markets

Oct. 10, 2024

Uptrend in Bitcoin's Dominance Rate Threatened by Fed Rate Cut Cycle, Crypto Asset Manager Says

Per SwissOne Capital, the BTC dominance rate and the U.S. interest are positively correlated. The recent onset of the Fed rate-cutting cycle poses risk to the uptrend in the BTC dominance rate. The U.S. Federal Reserve's (Fed) rate-cutting cy...

Markets

Oct. 09, 2024

Bitcoin Dips Below $61K, Ether Slips 3% as Some PlusToken China Ponzi-Related Coins Moved to Exchanges

Cryptocurrencies continued to show weakness on Wednesday with bitcoin {{BTC}} dipping below $61,000, in stark contrast with U.S. stocks, which climbed to new records. BTC started the day around $62,000, then slipped ever lower during the later h...

Markets

Oct. 09, 2024

First Mover Americas: Crypto Market Muted After HBO Satoshi Reveal Falls Flat

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,918.40 ...

Markets

Oct. 09, 2024

Whale Alert: $1M BTC Trade Bets on Volatility Expansion Outside $53K-$87K Range

A large long BTC straddle crossed the tape on Deribit, betting on a volatility explosion by the end of November. To be profitable, the options strategy needs prices to move above $87,000 or below $53,000 by expiry. A large bitcoin {{BTC}} opt...

Markets

Oct. 09, 2024

Cathie Wood's ARK Invest Buys $2.2M of Coinbase Shares

Cathie Wood's investment manager ARK bought nearly $2.2 million worth of Coinbase shares on Tuesday. ARKF contains around $67 million worth of COIN stock, a 7.43% weighting of the fund's total value. Cathie Wood's investment management firm A...

Markets

Oct. 09, 2024

Record Stablecoin Liquidity, Spike in BTC Transactions Could Fuel Bitcoin Price Surge

Stablecoin market capitalization has steadily reached $169 billion led by USDT and USDC, with the increase preceding price movements in past cycles. Historical data suggests a positive correlation between increased stablecoin balances on exchan...

Markets

Oct. 09, 2024

Crypto Majors BTC, ETH, XRP Little Changed as HBO Calls Peter Todd the Bitcoin Creator

The crypto market shrugged off HBO's 'big reveal' and BTC remains unchanged after Peter Todd was named as Satoshi. China's post-holiday rally has come to a screeching halt with indices well into the red during the morning trading session. Bit...

Markets

Oct. 09, 2024

Bitcoin Trapped Between 50 and 200-Day Averages as Bond Market Volatility Spikes, China Stocks Slide

BTC trades listless in a price range defined by key averages. The spike in Treasury market volatility, represented by the MOVE index, can lead to risk aversion. The slide in Chinese stocks may reverse the money flow to Asian stocks and cryptoc...

Markets

Oct. 08, 2024

Bitcoin Wavers at $62K Amid Major Swings in Stocks, Gold; Memecoins Falter as Profit-Taking Sets In

Cryptocurrencies belied their reputation for volatility, as they didn't seem to react to the large moves in major traditional assets on Tuesday. Bitcoin {{BTC}} continued to tread water slightly above $62,000, with each drop below that price lev...

Markets

Oct. 08, 2024

Bitcoin Protocol Babylon Pulls in $1.5B of Staking Deposits as Cap Lifted

Bitcoin protocol Babylon completed its second staking round on Tuesday, increasing deposits to about 24,000 BTC ($1.5 billion) from about 1,000 BTC previously. The staking round was "duration-based," meaning it lasted for 10 Bitcoin blocks. B...

Markets

Oct. 08, 2024

Solana Is 'Richly Valued' Versus Ether, but Could Still Outperform If Trump Gets Elected: Standard Chartered

Solana {{SOL}} looks overvalued compared to Ethereum {{ETH}} based on several metrics, but each token's relative performance to each other and bitcoin {{BTC}} depends heavily on who will be the next president of the U.S., a Tuesday report by Stan...

Markets

Oct. 08, 2024

Crypto Investors Mostly DCA Into Their Coins, Finds Kraken

For the vast majority of crypto investors, dollar-cost averaging (DCA) appears to be a must. That’s according to a recent survey by US crypto exchange Kraken, which found that 83% of crypto investors have used dollar-cost averaging in the ...

Markets

Oct. 08, 2024

Bitcoin Protocol Babylon Hours Away From Opening 'Duration-Based' Staking Round

Bitcoin protocol Babylon will complete is second staking round at around 18:30 UTC (2:30 p.m. ET) on Tuesday. The staking round is "duration-based," meaning it will be last for 10 Bitcoin blocks, lasting around one hour and 40 minutes, assuming...

Markets

Oct. 08, 2024

Bitcoin Miners at a Crossroads: Gain Market Share or Go All-In on AI?

Investors continue to pay a premium for miners diversifying into AI and HPC data centers, despite pure-play miners gaining market share. Marathon, Riot and CleanSpark all saw higher production numbers in September than August. Marathon produce...

Markets

Oct. 08, 2024

Bitcoin Up 40% YTD, but Gold Wins on Risk-Adjusted Returns

BTC's price surge doesn't compensate for the price volatility risks, a chart by Goldman Sachs shows. Gold's relatively higher risk-adjusted returns explains its safe haven appeal. Bitcoin {{BTC}} has surged over 40% this year, outshining majo...

Markets

Oct. 08, 2024

First Mover Americas: Bitcoin Drops as China's Stimulus Plans Disappoint

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,929.84&...

Markets

Oct. 08, 2024

Ether ETFs See Zero Flows for Second Time as Bitcoin ETFs Post Biggest Inflows in 6 Days

The nine ether ETFs in the U.S. registered zero flows in either direction, the second time this has occurred, the other being on Aug. 30. Bitcoin ETFs have seen inflows of nearly $18.75 billion since they listed in January, while their ether eq...

Markets

Oct. 08, 2024

Polymarket Bettors Shuffle Odds of Bitcoin's Creator Reveal Ahead of HBO Documentary

Len Sassaman, once a favorite with Polymarket bettors as a possible contender to be Nakamoto, is out of the lead. The consensus amongst Polymarket bettors is that it's someone not on the list. The odds of the late Len Sassaman being revealed ...

Markets

Oct. 08, 2024

Bullish Bitcoin Hopes Dented as China Eases Stimulus Plans

BTC is down 1.5% as the market was underwhelmed by stimulus measures announced by Beijing. Crypto traders are looking to an upcoming Federal Reserve meeting for clues on where BTC might move next. A September rally in Chinese stocks fizzled ...

Markets

Oct. 07, 2024

MicroStrategy Surges to 6-Month High as Bitcoin Wrestles With Key Moving Average

The S&P 500 and Nasdaq tumbled over 1% and closed the day near their lows, possibly pushing down crypto prices, which shed much of their earlier gains. Over $215 million in leveraged crypto positions were liquidated during the day, hitting ...

Markets

Oct. 07, 2024

Bitget Token Tumbles 52% on 'Market Sluggishness,' Exchange Says, While Promising Compensation

Crypto exchange Bitget pledged to compensate holders of its native Bitget Token who suffered losses during a flash crash on Monday. The BGB token slid to as low as $0.54 from $1.14 in 15 minutes at around 02:30 UTC. Crypto exchange Bitget pro...

Markets

Oct. 07, 2024

Memecoin Moodeng on Ethereum Jumps 480% After Vitalik Buterin's Mention and Donation Sales

The MOODENG token, inspired by the Thai baby hippo Moo Deng, experienced a nearly 500% price increase in 24 hours. Vitalik Buterin mentioned the memecoin on his social media post and sold 10 billion MOODENG tokens for 308.69 ETH, donating the p...

Markets

Oct. 07, 2024

First Mover Americas: Bitcoin Tests $64K Ahead of Busy U.S. Economic Data Week

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,950.34 ...

Markets

Oct. 07, 2024

Trump Leads Harris on Polymarket After Musk Endorsement, but Trails in This Key State

Trump has widened his gap over Harris on Polymarket after an endorsement from Musk. However, he still trails in Nevada, one of the key states that have historically predicted the outcome. Republican presidential candidate Donald Trump is lead...

Markets

Oct. 07, 2024

Len Sassaman Gets the Memecoin Treatment Ahead of HBO Bitcoin Creator Documentary

The upcoming HBO documentary "Money Electric: The Bitcoin Mystery" has sparked significant interest and speculation in the cryptocurrency community about the identity of Bitcoin's creator, Satoshi Nakamoto. In anticipation of the documentary, v...

Markets

Oct. 07, 2024

Bitcoin, Asian Equities May Be Losing Capital to China Stocks

Since late September, BTC has held largely flat amid the stimulus-led 20% surge in the Chinese stocks. The rebound in the battered Chinese equities could be sucking out capital from crypto and Asian equity markets. The capital rotation may be ...

Markets

Oct. 07, 2024

Bitcoin Nears $64K, “Memecoin Supercycle” Trends as MOG, POPCAT Surge

Bitcoin {{BTC}} neared $64,000 in early Asian hours Monday ahead of a busy U.S. data week that sees the Federal Reserve release FOMC minutes and key economic figures from August that track the economy's growth. BTC rose 3%, putting in motion a m...

Markets

Oct. 04, 2024

AI Tokens Lead Crypto Rebound Amid Strong U.S. Economy

Alternative cryptocurrencies, or altcoins, lead the digital asset market's charge higher on Friday after geopolitical worries subsided and a blowout U.S. jobs report put recession fears to bed for now. Artificial intelligence-focused protocol Bi...

Markets

Oct. 04, 2024

U.S. Added Blowout 254K Jobs in September, Unemployment Rate Dips to 4.1%

Jobs data for September was far stronger than expected. The chances for a 50 basis point rate cut in November all but vanished. Already down on the week, the price of bitcoin is holding up following the data, with one analyst suggesting the ri...

Markets

Oct. 04, 2024

First Mover Americas: Bitcoin Bounces From $60K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,8691.17...

Markets

Oct. 04, 2024

Attention Bitcoin Bulls, China Stimulus May Have Lost Its Mojo

China's latest stimulus appears sanguine compared to the 2015 cycle, according to BCA Research. The housing market bust limits China's ability to generate bullish "credit impulses." The credit impulse is in a structural downtrend, since peakin...

Markets

Oct. 04, 2024

Bitcoin ETFs Register Net Outflows for Third Straight Day

Bitcoin ETFs bled $54.2 million on Thursday. Of 525 ETFs launched in 2024, 13 of the top 25 are either bitcoin or ether related. The U.S.-listed bitcoin {{BTC}} and ether {ETH}} spot exchange-traded funds (ETFs) are doing their part in contri...

Markets

Oct. 04, 2024

Bitcoin, Gold Could Benefit From Rising Geopolitical Tension and U.S. Election: JPMorgan

Bitcoin and gold to benefit from growing geopolitical tension and the U.S. election, the report said. JPMorgan said a Trump election win would likely reinforce the 'debasement trade.' Markets have not yet priced in a Trump victory, the bank sa...

Markets

Oct. 04, 2024

Bitcoin Set for Unusually Volatile Weekend After Friday's Payrolls Data, Volatility Kink Indicates

BTC's options expiring on Oct 5 trade at higher implied volatility (IV) compared to Oct. 25 options. The so-called IV kink points to a unusually volatile weekend. Traders seem to bracing for price turbulence post Friday's NFP and potential ret...

Markets

Oct. 04, 2024

Bitcoin’s Poor Start to Bullish October Continues, but There May Be Cheer Ahead for Bulls

Bitcoin dipped below $60,000 briefly, leading to $144 million in bullish position liquidations, despite historical data suggesting October as its strongest month with gains averaging 22% since 2013. Social sentiment on platforms like X reflects...

Markets

Oct. 03, 2024

Bitcoin Dominance Nears 3-Year High Amid Altcoin Weakness; Aptos Outperforms as SUI Drops

Bitcoin held above $60,000 support level, while many altcoins tumbled. The U.S. dollar surged to its strongest level since mid-August amid strong economic data, geopolitical turmoil, weighing on risk assets. Spike in a key interbank borrowing ...

Markets

Oct. 03, 2024

NFT Mania Is Back? Maybe Not, but a CryptoPunk Just Sold for a Record $56.3M

A hallmark of the last cryptocurrency bull market was the remarkably high sale prices for various non-fungible tokens (NFTs). The world has largely moved on from NFTs, with enthusiasm for crypto products embellished with quirky images now direct...

Markets

Oct. 03, 2024

Binance's Crypto Market Share Sinks to 4-Year Low

Last month, Binance's combined market share in spot and derivatives volume dropped to its lowest level since September 2020, according to CCData. Overall trading volumes in September fell to the lowest since June, with trading activity expected...

Markets

Oct. 03, 2024

First Mover Americas: Bitcoin Trades Flat While Other Major Cryptos Nurse Losses

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,868.26 ...

Markets

Oct. 03, 2024

Bitcoin Holder Metaplanet Sells BTC Options to Boost Its $32M BTC Stash

Metaplanet sold 223 contracts of bitcoin put options, earning 23.972 BTC ($1.44 million) in premium income. The options expire on Dec. 27 2024 with a strike price of $62,000. If bitcoin falls below $62,000, Metaplanet will have to acquire an a...

Markets

Oct. 03, 2024

XRP's 'Bearish Skew' Persists Amid 10% Price Slide Following SEC Appeal and ETF Filing

XRP fell 10% as renewed regulatory uncertainty overshadowed ETF optimism. XRP's call-put skew shows fears of an extended price drop. XRP's {{XRP}} options market shows a greater risk of an extended price decline than renewed gains as renewed ...

Markets

Oct. 03, 2024

Bitcoin Flat Near $61K as Whales Continue to Accumulate; XRP Down 10% as SEC Appeals Case

Bitcoin remains relatively stable above $61,100, while ether experiences a 4% drop to $2,390 amid geopolitical tensions following Iranian airstrikes on Israel, influencing a broader market sell-off. Despite the downturn, there's significant wha...

Markets

Oct. 02, 2024

Bitcoin Bounce Above $62K Quickly Fades; Ether, XRP, ADA, LINK Lose as Torrid October Continues

Bitcoin's modest pump above $62,000 quickly faded, while ETH, XRP, ADA, SOL were 5%-7% lower over the past 24 hours. BTC could tumble to $55,000 if the Middle East conflict escalates further, but the $60,000 level acted as solid support so far,...

Markets

Oct. 02, 2024

The Rise of Index Investing in Crypto

Cryptocurrency has evolved as a global asset class with significant implications for modern investment portfolios. Despite undeniable growth, crypto remains volatile, posing challenges for even seasoned investors. An increasingly popular solution...

Markets

Oct. 02, 2024

Crypto at a Pivotal Moment

Seismic events often trigger crypto-asset market cycle transitions. The 2016-2017 cycle was largely industry-driven, expanding crypto's reach beyond early adopters. In contrast, the 2020-2021 surge was propelled by unprecedented COVID-era interes...

Markets

Oct. 02, 2024

Short-Term Holders Send $3B in Bitcoin to Exchanges at a Loss as Mideast Tensions Rise

Bitcoin recorded back-to-back daily declines of 3.7% as tensions in the Middle East escalated. Short-term holders sent $3 billion worth of bitcoin to exchanges at a loss over the past two days. In the past two days, Sept. 30-Oct. 1, bitcoin {...

Markets

Oct. 02, 2024

First Mover Americas: Bitcoin Returns to $61K After Tuesday's Dump

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,937.99 ...

Markets

Oct. 02, 2024

Grayscale’s High ETF Fee Keeps the Cash Flowing In Even as Investors Withdraw

Assets under management at Grayscale's GBTC have slumped 50% due to aggressive outflows since it became an exchange-traded fund. Even so, Grayscale is making five times the amount BlackRock is from IBIT, CoinDesk calculations show. That's down...

Markets

Oct. 02, 2024

Bitcoin ETFs Bleed $242.6M, Biggest Outflow Since Sept. 3

Bitcoin ETFs saw outflows of $242.6 million on Tuesday amid escalating tensions in the Middle East. BTC fell to a low of $60,300, erasing almost all of its gains since the Fed's rate cut last month. Bitcoin {{BTC}} exchange-traded funds (ETFs...

Markets

Oct. 02, 2024

Bitcoin Plunge Causes $450M in Bullish Crypto Bets Liquidated

Nearly half a billion in bullish crypto bets were liquidated as the market buckled under geopolitical pressure. Data from CoinGlass shows that 86% of traders are bullish going into October. Futures tied to major tokens saw over $450 million i...

Markets

Oct. 02, 2024

Bitcoin Regains $61K in Worst Start to Most Bullish Month as Israel-Iran Tensions Rage On

Tensions in the Middle East pushed down BTC during the first half of Asia trading hours Wednesday. The CoinDesk 20, a measure of the most liquid digital assets, had its worst drop in weeks. Bitcoin {{BTC}} rose above $61,500 in Asian morning ...

Markets

Oct. 01, 2024

Bitcoin Slides Below $63K, Diverging from Gold as Middle East Tensions Flare Up

Cryptocurrencies started the Tuesday U.S. session with a nosedive as headlines of escalating tension in the Middle East prompted investors to flee risk assets. Bitcoin {{BTC}}, the largest digital asset by market cap, climbed to around $64,000 d...

Markets

Oct. 01, 2024

Bitcoin Bull Run in Question as Balances on OTC Desks Rise to 410k

The OTC bitcoin balance has reached a 2.5 year high of 410,000 tokens. The run-up is similar to that which took place during the bull run of late 2020 into early 2021. A decline in bitcoin balances will likely be necessary for a continuation o...

Markets

Oct. 01, 2024

First Mover Americas: BTC Is Little Changed Following Muted Asia Trading

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,075.25 ...

Markets

Oct. 01, 2024

Bitcoin Mining Profitability Fell for Third Straight Month in September: JPMorgan

Daily mining revenue and gross profit fell for a third consecutive month in September, the report said. The bank noted that the network hashrate rose 2% from August. Daily block reward gross profit fell to the lowest "on recent record" in Sept...

Markets

Oct. 01, 2024

Open Interest in XRP Zooms to $1B as Ripple Tests RLUSD Stablecoin

Open interest in XRP has surged past $1 billion amid growing enthusiasm for Ripple's forthcoming RLUSD stablecoin, currently in private beta testing on both XRP Ledger and the Ethereum blockchain. Bets on XRP futures grew to over $1 billion ove...

Markets

Oct. 01, 2024

Bitcoin Retail Inflows Hold Steady as Whales Pile In at Start of Historically Bullish October

Retail trader activity for bitcoin is at normal levels, lower than observed during past bull and bear markets, data from crypto exchanges like OKX and Binance indicates. The market might be in a phase where it's waiting for retail investors to ...

Markets

Oct. 01, 2024

Bitcoin $100K Bullish Bet Draws Nearly $1B Open Interest on Deribit

Traders have locked in over $990 million in BTC $100,000 call option, according to Deribit. The $45,000 put is most popular among the U.S. elections expiry options. Traders over Polymarket see only 15% chance of prices rising to $100,000 by th...

Markets

Oct. 01, 2024

Metaplanet Buys Another 107 Bitcoin, Pushing Stock-BTC Ratio to 20%

Metaplanet has acquired an additional 107 BTC at an average price of $64,168 per bitcoin, totaling $6.9 million, funded by a loan from MMXX Ventures. The company now holds over 500 BTC, using it as a strategic reserve to hedge against yen volat...

Markets

Oct. 01, 2024

Cryptocurrencies Continue to Outperform the Stock Market: Canaccord

Digital assets continue to outperform equities this year, the report said. Canaccord said bitcoin's dominance should decline given the lesser need for an inflation hedge, but it still performs like other risk assets for now. If bitcoin follows...

Markets

Oct. 01, 2024

Bitcoin’s Link to Ishiba-Led Swoon in Nikkei Comes Into Question as Yen Declines

BTC dropped over 3% on Monday, with analysts blaming Japan's incoming PM Ishiba's hawkish bias and Nikkei's slide for the losses. The yen, however, depreciated across the board Monday, contradicting the Ishiba link. Bitcoin {{BTC}} fell 3.5% ...

Markets

Oct. 01, 2024

Bitcoin ETFs Continue Inflow Streak as BTC Remains Flat Amid China Holiday

BTC and ETH are flat as Asia's market is quiet and traders mull over Fed comments that the next rate cut won't be large. PoliFi tokens are having a good week, with the Trump-themed MAGA token up 70% in the last seven days. Bitcoin {{BTC}} and...

Markets

Oct. 01, 2024

Base Creator Jesse Pollak Tapped to Lead Coinbase's Wallet Team

Base creator Jesse Pollak has been tapped to lead the team responsible for Coinbase Wallet Pollak was named one of CoinDesk's most influential for 2023 for his work on Base. Jesse Pollak, creator of the Layer 2 blockchain Base, says he's been...

Markets

Sep. 30, 2024

Bitcoin Ends Historic September With a Dip, but Breakout May Not Come Before U.S. Election

Bitcoin dipped 3.7% over the past 24 hours while XRP, ADA, DOT and LINK plunged over 5%. SOL, ETH outperformed. Even with the decline, BTC is on track to finish September with a nearly 7% return, its best performance since 2013. ByteTree's Cha...

Markets

Sep. 30, 2024

Bitcoin Retail Activity Remains Low Despite Recent Rally

In previous crypto bull markets in 2017 and 2021, the Coinbase app was ranked number one in downloads versus the current 438. The amount of bitcoin owned by short-term holders is approximately 2.5 million tokens, a level typically associated wi...

Markets

Sep. 30, 2024

MicroStrategy's Next Bitcoin Purchase Is Likely to Take Its Holdings Above Grayscale's GBTC

MicroStrategy mights soon hold more bitcoin than Grayscale. The company has used capital markets to continually raise money for additional bitcoin buys, while Grayscale has seen a large exit of tokens since the U.S. spot ETFs were introduced in...

Markets

Sep. 30, 2024

Memecoin Launchpad GraFun Crosses $250M in Volume on BNB Chain Release

GraFun, a memecoin launchpad supported by Floki and DWF Labs, saw over $250 million in trading volume in its first 24 hours on PancakeSwap. One project, BabyBNB, achieved a market cap peak of $132 million shortly after launch and was listed on ...

Markets

Sep. 30, 2024

Trump Inches Closer to Harris on Polymarket as Betting Passes $1 Billion

This week in prediction markets: $1 billion has been traded on Polymarket's Trump vs. Harris market, with the vice president in the lead. Market is skeptical bitcoin's rally will last. "Black Myth: Wukong" was a major hit for China's game ind...

Markets

Sep. 30, 2024

Bitcoin Tumbles Back Below $64K as Surprise Japan Prime Minister Choice Triggers 5% Plunge in Nikkei

A surprise choice as Japan's next prime minister renewed fears of BOJ tightening, sending markets lower. Overbought conditions left bitcoin vulnerable to a selloff. After a quick roughly 14% run higher following the U.S. Federal Reserve's 50 ...

Markets

Sep. 30, 2024

First Mover Americas: Bitcoin Drops 3%, Still on Track for Best September Since 2013

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,051.40 ...

Markets

Sep. 30, 2024

'Overbought' Bitcoin Drops Below $64K as ISM Manufacturing Data Looms: 10x Research

BTC again faces selling pressure in the lead-up to the U.S. ISM Manufacturing data. A reading below 48 could yield a deeper price drop, one observer said. The ISM data is scheduled for release Tuesday. Bitcoin {{BTC}} faced selling pressure ...

Markets

Sep. 30, 2024

Crypto Investment Products Saw $1.2B of Inflows Last Week, Most in 10 Weeks: CoinShares

Digital asset funds saw net inflows of $1.2 billion last week, their most since the week ended July 19. The growth marked the third consecutive week of inflows and was attributed to expectations of further interest-rate cuts in the U.S. Digit...

Markets

Sep. 30, 2024

Bitcoin’s Bearish September May Be Its Best Since 2013 Ahead of Bullish October

Bitcoin is set to record a gain of at least 9% this September, defying its historical trend of negative returns for the month, with only two prior instances of positive growth since 2013. October traditionally favors bitcoin with only two negat...

Markets

Sep. 30, 2024

Bitcoin Bulls Eye $75K and Higher as BTC Registers Three-Week Winning Streak

BTC has registered its first three-week winning trend since February. Dealers have seen massive call buying activity at the $75,000 strike price and beyond and put selling, according to Amberdata. Bitcoin {{BTC}} has notched its first three-w...

Markets

Sep. 27, 2024

MicroStrategy 2X Leveraged ETF Sees Massive Inflows In First Week Of Trading As MSTR Outperforms Bitcoin

Seven days after hitting the market, the T-REX 2X Long MSTR Daily Target ETF (MSTU) has become one of the most successful new exchange-traded funds (ETFs) on the market after attracting over $72 million. The fund, issued by REX Shares and Tuttle...

Markets

Sep. 27, 2024

Bitcoin FOMO is Back: $70K and Then New Record Highs in Sight, Says Analyst

Impressive gains since the U.S. Federal Reserve's mid-September rate cut and subsequent China stimulus plans have pushed bitcoin {{BTC}} out of its downtrend, according to a new research report. "FOMO is Back: Are You Holding Enough Bitcoin and ...

Markets

Sep. 27, 2024

Bitcoin Prices Show Positive 30-Day Correlation With China's Central Bank Balance Sheet

Bitcoin's price has been positively correlated with the size of the People's Bank of China's (PBOC) balance sheet over the past eight years. The PBOC is considering a massive stimulus of up to 1 trillion yuan ($142 billion) to bolster its econo...

Markets

Sep. 27, 2024

First Mover Americas: Bitcoin Nears $66K After Monster ETF Day

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,090.20 ...

Markets

Sep. 27, 2024

BlackRock Highlights Bitcoin's Unique Properties, Believes BTC is Risk-Off in the Long Term

Bitcoin is up 22% since the Yen carry trade unwind on Aug. 5, while gold and the S&P 500 are up around 11%. Over 65% of the circulating bitcoin supply has remained unmoved for over a year. Almost all holders are in profit if they held for ...

Markets

Sep. 27, 2024

Bitcoin's 'Outside Day' Sets Stage for $70K, Altcoins Break Out: Technical Analysis

Bitcoin's widening trading range and a move above the August high suggests more gains ahead. The six-month corrective trend in altcoins seems to have ended. Earlier this week, analysts at the Bitfinex crypto exchange said August's $65,200 hig...

Markets

Sep. 27, 2024

Celestia's TIA Posts Biggest Monthly Gain This Year Even as Impending $1.13B Token Unlock Spurs Hedging

TIA has outperformed the CoinDesk 20 Index this month by a large margin. There has been an increase in TIA hedging demand ahead of a Oct. 31 token unlock, Wintermute said. Bearish short positions, likely representing hedging, have been crowded...

Markets

Sep. 27, 2024

Bitcoin Holds Above $64K as China Stimulus Sends Conflux’s CFX, Dog Memes Running High

In Asia's Friday market, dog-themed memecoins like SHIB, BONK, and FLOKI experienced significant gains, with SHIB and FLOKI up by 15% and BONK leading with a 17% increase, fueled by a return of risk appetite among investors. Conflux's CFX saw a...

Markets

Sep. 26, 2024

Bitcoin Hits $65K for First Time Since Early August, Renewing Investor Interest in Spot ETFs

Bitcoin {{BTC}} is back to levels not seen in nearly two months as it pushed past the $65,000 mark during U.S. morning hours on Thursday. The largest cryptocurrency by market cap traded just shy of $65,400 at press time, up 2.7% over the past 24...

Markets

Sep. 26, 2024

Bitcoin Jumps Over $64K Ahead of Powell Speech; IBIT Options Could Provide Longer-Term Boost

Bitcoin climbed above $64,000 in early U.S. trading hours ahead of a number of Fed speakers, including Chairman Jerome Powell, and after China's Politburo reportedly pledged continuing support to that country's economy and markets. Bitcoin coul...

Markets

Sep. 26, 2024

First Mover Americas: Bitcoin Regains $64K as ETF Flow Trends Flip Positive

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,056.03 ...

Markets

Sep. 26, 2024

Ethena Announces UStb Stablecoin Backed by Blackrock's BUIDL

Ethena has announced a new stablecoin that invests its reserves in Blackrock's real-world asset fund called BUIDL. The team said UStb can support its synthetic stablecoin USDe during tough market conditions by allowing Ethena’s governance to cl...

Markets

Sep. 26, 2024

Celo Challenges Tron's Leadership in Active Stablecoin Addresses

Celo is taking on Tron in terms of daily active addresses interacting with stablecoins. The CELO token rallied over 20% on Wednesday. Celo , an Ethereum layer 2 and blockchain-based ecosystem dedicated to mobile-first decentralized applicati...

Markets

Sep. 26, 2024

Curve Finance Mulls Removing TrueUSD as Collateral for Stablecoin Curve USD

A new proposal on Curve Finance suggests removing TrueUSD (TUSD) as collateral for its stablecoin, crvUSD, due to concerns over TUSD's stability and regulatory issues, reducing its backing limit to zero. The proposal also recommends decreasing ...

Markets

Sep. 26, 2024

Crypto Inspired by 'Moo Deng' Zooms to $100M as Hippo Meme Takes Over Internet

Moo Deng, a baby pygmy hippo, has become an internet sensation, leading to the creation of a Solana-based memecoin that has surpassed a $100 million market cap. One trader notably turned $1,331 into $3.4 million by investing in the Moo Deng mem...

Markets

Sep. 26, 2024

Key Indicators Challenge Fed's 'Normalization' Rate Cut That Torched Bitcoin Rally

The post-Fed risk-on rally supports the normalization narrative. Some indicators, like the unemployment rate, the ratio between leading and lagging economic indicators, and the gold-oil ratio, disagree, pointing to an impending slowdown. Sinc...

Markets

Sep. 26, 2024

Bitcoin ETF Demand Grows Among U.S. Investors as China Considers Massive $142B Capital Injection

Bitcoin traded above $63,000, experiencing a slight daily decline but a weekly gain, with BTC ETFs seeing significant positive net inflows, indicating a trend towards accumulation. China is reportedly considering a substantial 1 trillion yuan c...

Markets

Sep. 25, 2024

The Fed Pivot is Finally Here

“The time has come,” stated Fed chairman Jerome Powell back in August at the Jackson Hole central bank symposium. Last week, the Fed cut its federal funds target rate by 50 bps to 5.00% p.a. (upper limit) which was slightly more than markets had ...

Markets

Sep. 25, 2024

Retail Accumulation and Exchange Outflows Drive Market Optimism for Bitcoin

Retail bitcoin investors, particularly "crabs" and "shrimps," have accumulated 35,000 BTC in the past 30 days, highlighting increased confidence and participation from smaller holders. With 40,000 BTC withdrawn from exchanges in the past 30 day...

Markets

Sep. 25, 2024

U.S. M2 Money Supply Approaches New Highs as Financial Assets Reach Record Levels

In August alone, the M2 money supply rose nearly 1%, and the Fed since has trimmed interest rates 50 basis points, with what looks like another 50 basis point rate cut coming in November. Aggressive monetary easing by China and the U.S. Federal...

Markets

Sep. 25, 2024

First Mover Americas: Bitcoin Retreats Following Ascent to $64K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,029.51 ...

Markets

Sep. 25, 2024

Bitcoin's South Korea Discount Hits Highest Since October 2023

Bitcoin is trading on Korean exchanges at the steepest discount since October 2023, according to CryptoQuant. Smart traders have shifted to high-beta altcoins, data tracked by 10x Research show. Crypto traders on South Korea-based exchanges s...

Markets

Sep. 25, 2024

Bitcoin ETFs Remove Nearly Five Times Daily Supply as Ethereum ETFs See Strong Rebound

Bitcoin ETFs recorded $136 million in inflows, with BlackRock’s IBIT contributing $98.9 million, equivalent to 1,548 BTC. Ether ETFs saw $62.5 million in inflows, led by BlackRock’s ETHA with $59.3 million, third-largest day for Ether ETF inflo...

Markets

Sep. 25, 2024

Bitcoin's $5.8B Quarterly Options Expiry May Spark Market Swings, Deribit Says

A notable amount of bitcoin and ether open interest is set to expire "in-the-money" on Friday, setting stage for price swings, Deribit's Luuk Strijers said. Options beyond the Friday expiry exhibit a bullish bias for bitcoin and ether. BTC's m...

Markets

Sep. 25, 2024

Bitcoin Strength Continues on U.S, China Easing; Floki Bot Crosses Trading Milestone

BTC is up 1% as it trades near $64K during the Asia business day. Polymarket traders are giving a 50% chance that the Fed makes another 50 bps cut. Bitcoin {{BTC}} showed signs of strength Wednesday as it retook the $64,000 level in early As...

Markets

Sep. 24, 2024

Bitcoin Pushes Past $64K as Monetary Ease Expectations Grow

China overnight joined in what's now a near global monetary easing campaign by the major economies. Bitcoin took aim at rising past $65,000 for the first time since early August. A breakout above the $65,000 level is likely necessary to confir...

Markets

Sep. 24, 2024

Bitcoin Miner From Network’s Earliest Months is Sending BTC to Kraken

An early Bitcoin miner from 2009 three weeks ago ended a decade of inactivity and earlier Tuesday sent an additional 5 bitcoin to crypto exchange Kraken. There has been notable activity from Bitcoin wallets dating back to the Satoshi era in the...

Markets

Sep. 24, 2024

First Mover Americas: Bitcoin Little Changed in Face of PBOC Rate Cut

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,014.90 ...

Markets

Sep. 24, 2024

Bitcoin's Trading Range Extends Beyond 125 Days as September Shows Resilience

Bitcoin defies the odds with a 22% surge from the month's low, challenging September's bearish reputation. All eyes are on the $65,200 mark as bitcoin approaches a pivotal point in its trading channel. A 10% price increment analysis reveals bi...

Markets

Sep. 24, 2024

Bitcoin Needs to Top $65.2K to Break Downtrend: Bitfinex

A move above the August high of $65,200 will invalidate the bearish lower highs pattern, analyst at Bitfinex said. Weakening spot market buying pressure points to short-term consolidation, analysts added. Bitcoin {{BTC}}, the leading cryptocu...

Markets

Sep. 24, 2024

Ether ETFs Record Biggest Outflows Since July in Sign of Low Institutional Appeal

Ether ETFs experienced the largest outflows since July, with over $79 million exiting on Monday. The outflows were predominantly from Grayscale’s Ethereum Trust (ETHE), while other ETFs like Bitwise's ETHW saw minor inflows, highlighting Graysc...

Markets

Sep. 24, 2024

Bitcoin Little Changed as China Announces Stimulus; Traders Say Harris’ Win Unlikely to be Bearish

Bitcoin and ether are slightly down after China's central bank announced aggressive stimulus measures. Local equities indices are up as investors move into stocks as a result of the central bank's measures. Bitcoin {{BTC}} started to pare wee...

Markets

Sep. 23, 2024

AI-Related Cryptos Lead Altcoin Surge; Bitcoin Breakout Nears with Several Catalyst in Q4: Analyst

Artificial intelligence-related cryptocurrencies led the crypto rally on Monday as altcoins continued to shine relative to bitcoin {{BTC}}. Native tokens of layer-1 blockchain Near {{NEAR}} and decentralized computing platform Render {{RNDR}} ...

Markets

Sep. 23, 2024

Caroline Ellison Most Likely Won't Serve Time, Polymarket Traders Bet

This week in prediction markets: Caroline Ellison most likely won't serve time in prison as part of plea deal, market suggests. Will Qualcomm's bid for Intel succeed? Probably not. Prediction markets were trendy at Token2049. A little more ...

Markets

Sep. 23, 2024

Bitcoin Could Surge Thanks to Looser Financial Conditions

The Chicago Fed's NFCI fell to -0.56, the loosest financial conditions since bitcoin's 2021 cycle high. Financial conditions and bitcoin show a negative correlation suggesting the crypto thrives in risk-on environments. Bitcoin has more than d...

Markets

Sep. 23, 2024

First Mover Americas: BTC, ETH Rise in Muted Trading to Start the Week

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1992.83 +...

Markets

Sep. 23, 2024

Digital Asset Funds See Second Consecutive Week of Inflows: CoinShares

Digital asset investment products experienced a second week of inflows, adding $321 million. CoinShares attributes the gain on the 50 basis-point interest-rate cut by the U.S. Federal Reserve, the first time the central bank has reduced the cos...

Markets

Sep. 23, 2024

Ether Leads Post-Fed Crypto Market Rally as Yen Weakness Sparks Risk-On Frenzy

The U.S. Dollar Index climbs above 101, while a weakened yen fuels risk-on momentum. Ether skyrockets 14%, with meme coins leading a 40% surge; bitcoin gains but loses market dominance. Oil jumps 2% amid middle eastern tensions, gold rallies, ...

Markets

Sep. 23, 2024

Core Scientific, on Cusp of Becoming a Major Force in AI Hosting, Initiated at Buy: Canaccord

Canaccord initiated coverage of Core Scientific with a buy rating. The bitcoin miner is on the cusp of becoming a major player in AI hosting, the report said. The broker noted that Core Scientific has potential upside from its mining business....

Markets

Sep. 23, 2024

Ether Outperforms Bitcoin as Token 2049 Concludes, Overall Crypto Market Stays Flat

Monday marked a slow beginning to the Asia trading week with BTC up 1.2% and ETH up 2.6%. Solana memecoin MOTHER, the brainchild of music star Iggy Azalea, is up 4% after having a strong presence at Breakpoint in Singapore. Ether {{ETH}} push...

Markets

Sep. 20, 2024

Altcoins Surge Leaving Bitcoin and Ether Behind After Fed Cuts Interest Rate

Altcoins were the better performer after the Fed's decision to lower rates on Wednesday. Cryptocurrencies excluding ether and bitcoin have risen 5.7% since the decision was announced while bitcoin is up 4.4%. Experts say this divergence isn't ...

Markets

Sep. 20, 2024

Bitcoin Price and Hashrate Divergence May Set the Scene for a Potential Rally, Historical Data Shows

The divergence between Bitcoin's hash rate and price could signal a potential rally in prices, according to historical data. September's counter-seasonal price trend has already started to show signs of this divergence trend playing out. Publi...

Markets

Sep. 20, 2024

Iggy Azalea to Release Online Casino Motherland in Boost for MOTHER Token

Iggy Azalea is launching Motherland, an online casino utilizing her MOTHER token, featuring various games and betting options. Despite the decline of many celebrity-backed memecoins, Azalea's strategic use of the MOTHER token for real-world app...

Markets

Sep. 20, 2024

First Mover Americas: Bitcoin Tests $64K as BoJ Pauses Rate Hikes

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,000.30 ...

Markets

Sep. 20, 2024

Bitcoin, Gold May Be Sensing Monetary Debasement as Records Beckon

Bitcoin has surged 7% in the past five days, breaking through $64,000 for the first time this month. Gold has hit all-time highs, surpassing $2,600 an ounce. These standout performances are linked to increased global liquidity, with expanding ...

Markets

Sep. 20, 2024

Cat-Themed Memecoins Emerge as Preferred Risk On Bets With 40% Surge in a Week

Tokens like POPCAT, MEW, MOG, and CAT have seen significant gains, up to 40% in a week, following a 50 basis point rate cut by the U.S. Federal Reserve, indicating a return of risk-on sentiment in the crypto market. POPCAT reached a $1 billion ...

Markets

Sep. 20, 2024

Ether Is Going to Shine Again, Steno Research Says

Ether's recent underperformance may be over, Steno Research said in a report. The report noted that in the last bull market, during altcoin season, ether more than doubled in value compared to bitcoin. The U.S. Federal Reserve's interest rate ...

Markets

Sep. 20, 2024

'Satoshi Era' Wallets Move $16M in Bitcoin After 15 Years of Dormancy

Over 250 BTC from the early days of bitcoin, known as the "Satoshi era," were transferred on Friday in five separate transactions, each moving 50 BTC to new wallets, with a total value close to $13 million. As of press time, there hasn’t been a...

Markets

Sep. 20, 2024

Bitcoin Nears $64K as BTC Futures Attract Billions; BoJ's Hike Pause Bumps Risk Assets

Open interest data fromCoinGlass show a nearly $5 billion jump in bitcoin bets since Tuesday. Solana’s SOL and ether zoomed as much as 7% to lead gains in crypto majors. Bitcoin {{BTC}} extended weekly gains to 10% after a busy few days, incl...

Markets

Sep. 19, 2024

DeFi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin, Due to Sun Concerns

Sky, the decentralized finance lender previously known as MakerDAO, will move forward with a plan to offboard wrapped bitcoin (WBTC) as collateral, following a vote that closed on Thursday and garnered overwhelming support from the project's ...

Markets

Sep. 19, 2024

Bitcoin Faces Key Test at $64K as Altcoins Lead Crypto Rally; Options Traders Bet on $70K BTC Next Month

Cryptocurrencies surged higher with bitcoin {{BTC}} nearing $64,000 on Thursday as the Federal Reserve's jumbo rate cut bolstered risk appetite across asset classes. Bitcoin climbed nearly 6% over the past 24 hours from Wednesday's whipsaw b...

Markets

Sep. 19, 2024

First Mover Americas: Bitcoin Rises Above $62K After Fed Cuts Rate

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,925.79 ...

Markets

Sep. 19, 2024

Dogecoin Records Bump in Transaction Activity, Points to Bullishness for DOGE

Network activity indicates potential price movements as increased transactions signal growing adoption or trading interest. However, open interest has remained largely unchanged since July, suggesting a cautious or steady market sentiment. A ...

Markets

Sep. 19, 2024

Ether Rebounds Off Key Support Signals Long Term Bullishness

Ether has bounced off its 200-week simple moving average, reinforcing long-term support. Bitcoin fights to stay above $62K while attempting to break past key resistance levels, including the short-term holder realized price at $61,998. Ether ...

Markets

Sep. 19, 2024

Stablecoins Are Becoming Systemically Important, Bernstein Says

Stablecoins are becoming increasingly important to the global financial system, the report said. Bernstein noted that stablecoins are the 18th-largest holders of U.S. government debt. Stablecoin circulation is back to an all-time high of $170 ...

Markets

Sep. 19, 2024

Family Offices Investors Summit: The $100M Club Bets on Liquid Token, AI, and Gaming in Pivot to Alternative Investments

The Asia-Pacific region is expected to lead global growth in family office wealth, Manana Samuseva, founder of FOIS, told CoinDesk. New ventures poised to enter the token markets are seeing valuations set exceptionally high by venture capitalis...

Markets

Sep. 19, 2024

Bitcoin Broke $62K After Fed Rate Cuts. Here’s What Traders Say Will Happen Next

The Federal Reserve implemented a 50 basis point rate cut, with expectations of further reductions to bring the median benchmark rate to 4.4% by year-end. Despite the rate cut, market sentiments are mixed with some skepticism about the sustaina...

Markets

Sep. 19, 2024

Solana Unveils Details of Second Crypto Phone 'Seeker'

SINGAPORE –– Solana Labs's phone designing subsidiary is slated to ship its second crypto phone in 2025, Solana Mobile announced at the Token 2049 conference Thursday. Called Seeker, the upcoming handheld will be a major hardware improvement ove...

Markets

Sep. 18, 2024

Fed Cuts Interest Rates by 50 Basis Points, Bitcoin Briefly Hits $61K

The U.S. Federal Reserve lowered its benchmark fed funds rate by 50 basis points to 4.75%-5% on Wednesday, marking the first rate cut in four years after the central bank's most aggressive hiking cycle. "The Committee has gained greater confiden...

Markets

Sep. 18, 2024

Stablecoins May Cushion Fed Rate Cut Impact on Treasury Tokens, Standard Chartered's Regional Head Says

The $170 billion stablecoin supply could potentially underpin demand for tokenized Treasuries, Standard Chartered's Alexander Deschatres said. The Fed will likely cut rates on Wednesday, starting the so-called liquidity easing cycle. The Fede...

Markets

Sep. 18, 2024

ICP-Based Bitcoin Token 'ckBTC' Will Bridge to Cosmos Through Osmosis

CkBTC will soon bridge to the Cosmos ecosystem via decentralized exchange Osmosis. Concerns have emerged weeks over Tron founder Justin Sun's perceived influence in WBTC, spurring competitors to offer alternatives. Chain-key bitcoin (ckBTC), ...

Markets

Sep. 18, 2024

Bitcoin's Rise Over $61K Could Signal Local Top, Binance Volume Indicates

Bitcoin topped $61,000 in the run-up to the U.S. market open on Tuesday, with trading volume on Binance increasing. Jumps in Binance trading levels often signal a local market top, with bitcoin dropping shortly afterward. Bitcoin {{BTC}}'s su...

Markets

Sep. 18, 2024

First Mover Americas: Bitcoin Drops Below $60K Ahead of Expected Fed Rate Cut

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,826.12 ...

Markets

Sep. 18, 2024

Bitget, Foresight Ventures Buy $30M TON Tokens From Whales

Bitget and Foresight Ventures announced on Wednesday that it acquired $30 million in TON from whales. This deal was not structured as a traditional VC investment, but rather a purchase from the token's largest holders Crypto exchange Bitget a...

Markets

Sep. 18, 2024

Ethereum Is the Microsoft of Blockchains, ETH Underperformance May Reverse Into Year-End: Bitwise

Despite recent underperformance, ether is potentially a contrarian bet into the year-end, the report said. Bitwise noted that the majority of stablecoins are issued on the Ethereum blockchain and more than 60% of all DeFi assets are locked on t...

Markets

Sep. 18, 2024

Fed Rate Cut Could Crash Crypto Markets, but Era of Central Banks Is Over: Arthur Hayes

The era of central banks is over, Hayes said ahead of an expected Fed rate cut Wednesday. Ethena's USDe and Pendle's BTC staking could benefit from the impending low interest rate regime, Hayes said. Demand for tokenized Treasuries, an interes...

Markets

Sep. 18, 2024

Bitcoin Holds Above $60K as Traders Warn of Sell-Off on 50 Basis Point Fed Rate Cut

Bitcoin is trading above $60,000 as traders await announcements from the FOMC The CoinDesk 20 (CD20), a measure of market performance, is up 1.1% Bitcoin {{BTC}} held above $60,000 early Wednesday, after a brief tumble below the level in late...

Markets

Sep. 18, 2024

BitGo to Enter Stablecoin Market With Reward-Bearing USDS Coin

BitGo says it is launching a stablecoin in January 2025 Called USDS this stablecoin will provide rewards to the institutions which power its liquidity. SINGAPORE — BitGo plans to introduce a dollar-backed stablecoin next year, differentiating...

Markets

Sep. 17, 2024

Bitcoin Gains 5% to $61K Ahead of Fed, but Order Books Suggest Rally Could Be Capped

Bitcoin led the crypto rally, hitting its highest price in September, while ETH, SOL, XRP, ADA and AVAX advanced 2%-4%. Significant BTC sell orders between $61,000 and $62,500 may cap further rally, Binance order book shows. "A lot of the focu...

Markets

Sep. 17, 2024

BlackRock's Bitcoin ETF Monday Posted First Net Inflows in 14 Days

BlackRock's iShares Bitcoin Trust took in $15.8 million on Monday, ending its 13-day long streak of flat or negative flows. Overall, the ten U.S.-based spot bitcoin ETFs bled $770 million since Aug. 27. BlackRock’s iShares Bitcoin Trust (IBIT...

Markets

Sep. 17, 2024

Tether-Issued Stablecoin USDT's Market Share Grows to 75% as Market Cap Tops $118B

USDT's market share grew to 75% from 55% in the past two years, according to Token Terminal. The Tether-issued stablecoin's supply rose to $118 billion from $65 billion while main rivals struggled. Tether's USDT, the largest stablecoin, is no...

Markets

Sep. 17, 2024

First Mover Americas: Bitcoin Reclaims $59K as Traders Anticipate 50-Bps Fed Rate Cut

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,838.51 ...

Markets

Sep. 17, 2024

Bhutan, Tiny Country With $3B GDP, Holds Over $780M in Bitcoin

Bhutan, a Himalayan nation with fewer than 1 million people, has accumulated over $780 million in bitcoin, representing nearly a third of its GDP, through mining operations run by state-owned Druk Holdings. The mining operations are linked to B...

Markets

Sep. 17, 2024

Bitcoin Holds Above $58K as Odds of Big Fed Rate Cuts Jump to 67%

Bitcoin remains stable around $58,480 with slight movements in other cryptocurrencies like XRP, SUI, and FTM. The market anticipates the Federal Reserve's potential interest rate cut on September 18, which is expected to influence risk assets p...

Markets

Sep. 17, 2024

Crypto Project World Liberty Financial, Promoted by Trump Family, Confirms Plan for Token

World Liberty Financial (WLFI), a crypto project the Trump family has endorsed, will be launching a governance token. The token will be non-transferable offered only to accredited investors under an SEC Regulation D exemption as the team cited ...

Markets

Sep. 16, 2024

Bitcoin Mining Profitability Remains at All-Time Lows as Prices Fall, Hashrate Rises, JPMorgan Says

The Bitcoin network hashrate is now back to pre-halving levels, the report said. The bank noted that U.S.-listed miners' share of the network hashrate increased for the fifth straight month to a new record. The fall in the hashprice, coupled w...

Markets

Sep. 16, 2024

First Neiro on Ethereum, Related to Dogecoin, Rockets 700% on Binance Spot Listing

The announcement of Binance listing First Neiro on Ethereum (NEIRO) for spot trading triggered a massive 700% price surge, catapulting its market cap from $15 million to $146 million in a day, with trading volumes skyrocketing from $8 million to...

Markets

Sep. 16, 2024

First Mover Americas: Bitcoin Pulls Back Before Probable Fed Rate Cut

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,822.90 ...

Markets

Sep. 16, 2024

Crypto Broker DeltaPrime Drained of Over $6M Amid Apparent Private Key Leak

Over $6 million in tokens were drained from DeltaPrime wallets due to a private key leak, affecting only the Arbitrum version of the project. The exploit involved a hacker gaining control over an admin proxy, redirecting it to a malicious contr...

Markets

Sep. 16, 2024

Bitcoin Slips to $58K as Fed Faces Split Rate Cut Expectations

The Fed faces split rate cut expectations as markets price in 50% probability for both 25 bps and 50 bps move this Wednesday. Bitcoin has pulled back from above $60,000 amid rate cut uncertainty. The coming week is shaping up to be that rare ...

Markets

Sep. 16, 2024

Bitcoin, Ether Plunge 5% Ahead of Widely-Anticipated Fed Rate Cuts

Bitcoin started the week with a 3% decline, falling below $58,400. The drop came ahead of expectations of the U.S. Federal Reserve potentially cutting rates, influencing market sentiment. U.S.-listed Bitcoin ETFs saw significant inflows on Frid...

Markets

Sep. 13, 2024

Bitcoin Eyes $60K and Likely Haa More Room to Rally, Analyst Says

Bitcoin, ether (ETH) advanced 2%-3% over the past 24 hours on strong day for cryptos. BTC bottomed last week and should rise further based on daily cycles theory, according to chartist Bob Loukas. The Federal Reserve is expected to lower inter...

Markets

Sep. 13, 2024

Bitcoin Left Out as Stocks, Bonds and Gold Party on Global Monetary Easing

A global coordinated monetary ease campaign is underway Most asset classes are on the rise as a result, but bitcoin remains under pressure The crypto may need more than a handful of modest rate cuts before a new bull run can get started What...

Markets

Sep. 13, 2024

Polygon's POL (MATIC) Token Spikes 15% on Binance Listing

Polygon's native token POL surged 15% on Friday as crypto exchange giant Binance said it added spot and perpetual contracts trading with the token to its platforms, marking the completion of the token's upgrade and rebrand from the longstandi...

Markets

Sep. 13, 2024

Odds of 50 Basis Point Fed Rate Cut Next Week Jump to 45%

Just 24 hours ago, it was thought to be nearly a done deal that the U.S. Federal Reserve could trim its benchmark fed funds rate by just 25 basis points when it meets next week, but the calculus has quickly changed. After all, the employment pic...

Markets

Sep. 13, 2024

Michael Saylor's MicroStrategy Purchased 18.3K More Bitcoins for $1.1B

Formerly a business software firm but now calling itself a bitcoin development company, MicroStrategy (MSTR) has added 18,300 bitcoins {{BTC}} to its multibillion-dollar holdings. The new purchases was made at an average price of $60,408 per tok...

Markets

Sep. 13, 2024

XRP, DOGE Lead Market Gains as Bitcoin Dips Under $58K

Major cryptocurrencies like bitcoin and ether were little changed. XRP and dogecoin were notable exceptions, with XRP's increase linked to Grayscale's new fund. Bitcoin has added more than 6% this week, putting it on track for the first weekly...

Markets

Sep. 13, 2024

First Mover Americas: Bitcoin Trades Little Changed Above $58,000

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,849.02 ...

Markets

Sep. 13, 2024

Tokenized Real-World Assets (Excluding Stablecoins) Market Value Hits Over $12B: Binance Research

RWAs continue to experience growth led by tokenized U.S. Treasuries. BlackRock's boasts a market value of over $500 million. The market value of on-chain real-world assets (RWAs), excluding stablecoins, continues to rise, representing continu...

Markets

Sep. 12, 2024

XRP Spikes 8% as Grayscale Launches XRP Trust in the U.S.

Crypto fund manager Grayscale is launching an XRP trust that could pave the way for a spot XRP exchange-traded fund (ETF) in the U.S. The closed-end fund will offer accredited investors direct exposure to XRP {{XRP}}. Grayscale previously offere...

Markets

Sep. 12, 2024

Mining New Bitcoin Is More Difficult Than Ever. Here's How it Could Impact BTC Prices

The difficulty of mining bitcoin has reached an all-time high of 92.6 terahashes, increasing by over 10% since early July, which could strain miners' profitability due to higher operational costs. Increased mining difficulty might pressure mine...

Markets

Sep. 12, 2024

First Mover Americas: Bitcoin Tops $58K After U.S. Tech Stocks Rise

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,831.41 ...

Markets

Sep. 12, 2024

Bitcoin Could Hit $125K by Year-End if Trump Becomes President, $75K if Harris Triumphs: Standard Chartered

Bitcoin is going to break out to new highs by year-end irrespective of who wins the U.S. election, the report said. The bank said bitcoin could reach $125,000 if Trump wins and $75,000 if Harris triumphs. Standard Chartered said positive catal...

Markets

Sep. 12, 2024

Leverage in the Bitcoin Market Is Increasing Again

Renewed bias for leverage points to increased investor risk appetite. High-leverage liquidity in bitcoin is concentrated at around $58,500. Increased leverage indicates traders taking on more risk and a possible jump in price volatility. Lev...

Markets

Sep. 12, 2024

U.S. Consumers Say Crypto Is Here to Stay, Stablecoins Maybe Not: Deutsche Bank

Fewer than 1% of U.S. consumers called crypto a fad, according to a Deutsche Bank survey. Only 18% of respondents said they expected stablecoins to thrive; 42% expected them to fade. Sentiment about bitcoin's outlook was not so positive, the s...

Markets

Sep. 12, 2024

Bitcoin Yields as High as 45% on Offer in Pendle's New Pools

DeFi platform Pendle's new pools allows users to earn floating yields up to 45% and fixed yields of 10% on a bitcoin-based token. The yields are achieved through staking service Lombard's LBTC token in collaboration with Ethereum layer-2 networ...

Markets

Sep. 12, 2024

Bitcoin Bargain Hunters Active on Kraken and Coinbase, CCData Shows

Buy-sell ratios point to bargain hunting over Kraken and Coinbase. The average trade size indicates that dip-demand stems from large traders. Bitcoin {{BTC}} bargain hunters are active on Kraken and Coinbase (COIN), snapping up coins at perce...

Markets

Sep. 12, 2024

Bitcoin Jumps Over $58K Amid Tech Stock Rally, SUI Outperforms

Bitcoin surpassed $58,000 during Asian trading hours, influenced by a rally in U.S. tech stocks and positive movements in Asian equities. Despite the bitcoin price increase, U.S. spot bitcoin ETFs experienced outflows, with Ark Invest’s ARKB se...

Markets

Sep. 11, 2024

Are Ethereum Staking Yields Too High?

Staking has grown in popularity in recent years due to the availability of staking-as-a-service, pooled staking, and the growth of liquid re-staking. As of July 2024, Ethereum's security budget amounts to a staggering $110 billion worth of ETH, r...

Markets

Sep. 11, 2024

Bitcoin Plunges Below $56K as Stocks Sell Off in Weak U.S. Trading

Cryptocurrencies sold off once again early in the U.S. trading session on Wednesday with bitcoin {{BTC}} diving below $56,000. BTC climbed during the Asian and European trading hours from a low of $56,000 after last night's U.S. presidential deb...

Markets

Sep. 11, 2024

Bitcoin Decouples From Gold as Crypto Continues in Bearish Phase

Bitcoin has been in CryptoQuant's bearish phase since August 27. There's been a decoupling from gold, which has been making record highs, while bitcoin struggles more than 20% below its record level of a few months ago. BTC's MVRV ratio is bel...

Markets

Sep. 11, 2024

U.S. Core Inflation Rose 0.3% in August, Faster Than Anticipated

U.S. headline CPI matched forecasts for August, but the core rate rose more than anticipated Bitcoin added a bit to early losses following the news The data has likely locked in the Fed cutting rates by just 25 basis points next week While t...

Markets

Sep. 11, 2024

First Mover Americas: Bitcoin Drops Below $56.5K on Risk-Off Day

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,791.61 ...

Markets

Sep. 11, 2024

AI Tokens ICP, FET Buck Crypto Market Drop as Apple Flags Artificial Intelligence Foray

AI tokens rallied even as macroeconomic and political developments weighed on the broader crypto market. On Monday, Apple announced "Apple Intelligence," foraying into the artificial intelligence sector. Native cryptocurrencies of blockchain ...

Markets

Sep. 11, 2024

Bitcoin Mining Was Significantly Less Profitable in August, Jefferies Says

Bitcoin mining was notably less profitable in August than July, the report said. Jefferies said September could be another difficult month for the miners as bitcoin remains below $60K and the network hashrate continues to advance. Mining econo...

Markets

Sep. 11, 2024

Indonesian Crypto Exchange Indodax Hacked for $22M; Pauses Activity Before Bigger Hit

Indodax was hacked with over $22 million worth of various tokens stolen. The exchange confirmed the security breach by pausing platform operations for "maintenance." However, there were indications of compromised social media activities, such a...

Markets

Sep. 11, 2024

Bitcoin Slides, Yen Gains as Trump-Harris Debate Disappoints Markets

Asian markets and U.S. stock futures experienced a downturn, with Bitcoin dropping over 2% to $56,300, reflecting a risk-off sentiment in financial markets following the presidential debate where Kamala Harris was perceived to outperform Donald ...

Markets

Sep. 10, 2024

Bitcoin Eyes $58K With Downtrodden Crypto Markets Exposed to Short Squeezes, Says Analyst

Bitcoin {{BTC}} was rising on Tuesday as the crypto market continued its rebound from last week's fear-inducing plunge. The largest crypto's price was nearing $58,000 late in the U.S. trading session, up 1.7% in the past 24 hours and higher by n...

Markets

Sep. 10, 2024

Trump-Harris Debate: Polymarket Shows Slim Odds of Crypto Mention

Cryptocurrency has come a long way. Once obscure, the technology now has a shot at being mentioned in Tuesday night's U.S. presidential debate between Donald Trump and Kamala Harris. A long shot, but still a shot. On Polymarket's "What will Tru...

Markets

Sep. 10, 2024

Core Scientific Is Uniquely Placed to Deliver AI Data Center Scale in the Near Term: Bernstein

Core Scientific is uniquely positioned to deliver AI data center scale in the one-to-three year timeframe, the report said. Bernstein said legacy data centers can provide equivalent scale, but not in the same timeframe. The broker has an outpe...

Markets

Sep. 10, 2024

First Mover Americas: Bitcoin Rises to $57K as ETFs End Losing Streak

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,817.62&...

Markets

Sep. 10, 2024

Crypto Retail Market Is Poised for a Rebound: Gemini

Crypto adoption has remained steady in the U.S. and the U.K. in the past two years, the report said. Gemini said 65% of those surveyed said they held crypto for its long-term investment potential. The majority of crypto owners said they wanted...

Markets

Sep. 10, 2024

Crypto Traders Remain Cautious About Downside Risks in Bitcoin, Ether; SOL Stands Out

Options data show a bias for short-term puts, or bearish positions, in bitcoin and ether. Cautious sentiment persists as a Federal Reserve interest-rate cut nears. SOL is likely to remain more resilient than ether. Prices for the two biggest...

Markets

Sep. 10, 2024

Bitcoin Trading Volume Surged to $2.8T in January to August Period

BTC's cumulative volume in the first eight months amounts to $2.87 trillion. It's a sign of increased market participation due to crypto and macro-specific uncertainty. The bitcoin {{BTC}} market reached unprecedented activity in the first ei...

Markets

Sep. 10, 2024

Bitcoin ETFs Post $28.7M Inflows After Record Losing Streak

The U.S.-listed BTC exchange-traded funds (ETFs) hit $28.7 million in inflows on Monday, ending a long losing streak. BTC is trading below $56.5K, while the CoinDesk 20 (CD20) is up 2.3%. Spot bitcoin (BTC) exchange-traded funds (ETFs) listed...

Markets

Sep. 09, 2024

Bitcoin Retakes $57K, but Potential Positive Catalysts Are 'Sparse,' Says NYDIG

The world's largest crypto is putting in a nice rebound on Monday after an ugly start to September that saw the price fall below $53,000 at one point last Friday. Bitcoin {{BTC}} at press time was trading just above $57,000, up 5% over the past ...

Markets

Sep. 09, 2024

Crypto Fund Outflows Were Most Since March Last Week as Bitcoin ETFs Bled

Crypto investment products lost about $726 million last week, with bitcoin funds registering losses of $643 million, CoinShares said. Spot bitcoin ETFs in the U.S. extended their losing streak to eight days for the first time since they listed ...

Markets

Sep. 09, 2024

First Mover Americas: Bitcoin Reclaims $55K Ahead of Tuesday's Harris-Trump Debate

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: $1,774.87...

Markets

Sep. 09, 2024

A 0.50% Fed Rate Cut Could Raise Alarm for Bitcoin, 10X Research Warns

An aggressive Fed rate cut may signal economic worry, not reassurance, weighing over risk assets, including bitcoin, according to 10x Research. Traders currently see a less than 30% chance of a 50 basis point rate cut next week. Friday's U.S....

Markets

Sep. 09, 2024

Bitcoin Could Hit $90K by Year End if Trump Becomes President Again: Bernstein

If Trump wins the U.S. election in November, bitcoin is expected to hit new highs, the report said. Bernstein said a Harris election win could see the crypto fall to as low as $30,000. Positive crypto regulatory policy could spur innovation an...

Markets

Sep. 09, 2024

Bitcoin Bottom In? BTC Order Book Liquidity Says Yes

The low order book liquidity suggests an impending bull reversal, according to Hyblock Capital. Negative funding rates point to a potential short squeeze. The market is fast moving into a positive macro environment, LondonCryptoClub said. Bi...

Markets

Sep. 09, 2024

Bitcoin 'Grossly Undervalued' at Current Prices, Traders Say Ahead of CPI, Trump-Harris Debate Week

Bitcoin remained stable over the weekend, trading between $54,000 and $55,000, following a significant liquidation of crypto long positions after a U.S. jobs report indicated a weaker labor market. Upcoming events this week include a Presidenti...

Markets

Sep. 06, 2024

Coinbase, Robinhood Upgraded by Barclays Analyst, Citing 'Matured' Business Models

Barclays has upgraded both Coinbase and Robinhood to equal weight from underweight. Analysts at the British bank argued that both companies have "matured meaningfully." Coinbase, in particular, could profit from a friendlier regulatory environ...

Markets

Sep. 06, 2024

Bitcoin Pumps, Then Dumps Below $55K as Jobs Report Spurs Crypto Volatility

The brief rally in the cryptocurrency markets following Friday's U.S. jobs report quickly reversed in volatile action. Bitcoin {{BTC}} jumped to $57,000 earlier today following the key report, only to the erase its gains and tumble below $55,000...

Markets

Sep. 06, 2024

Crypto Market to Stay Highly Correlated to Stocks Amid Macro Events and Dwindling Network Activities, Citi Says

Crypto market expected to remain highly correlated to stocks, the report said. The bank noted that network activity has been falling on Ethereum and stalling on the Bitcoin blockchain. Both bitcoin and ether spot ETFs have seen outflows, the b...

Markets

Sep. 06, 2024

U.S. Added 142K Jobs in August, Likely Setting Stage for 25 Basis Point Rate Cut

The U.S. posted August job growth of 142,000, slightly less than expected, but the unemployment rate dipped to 4.2% Sizable downward revisions to the July and June reports made the employment picture somewhat weaker than previously thought Und...

Markets

Sep. 06, 2024

First Mover Americas: BTC Treads Water Ahead of U.S. Jobs Report

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: $1,773.25...

Markets

Sep. 06, 2024

Crypto Market Lacks Major Near-Term Catalysts, JPMorgan Says

Total crypto market cap was about $2 trillion at the end of last month, the report said. JPMorgan said the crypto ecosystem lacks major catalysts in the near-term. Stablecoins were the outlier, as total market cap grew and volumes also increas...

Markets

Sep. 06, 2024

Bitcoin's 200-Day Average About to Lose Bullish Momentum; NFP Eyed

BTC's 200-day SMA is close to shedding its bullish bias for the first time since October. Short-term averages have already flipped bearish. The nonfarm payrolls report due later Friday is likely to show the U.S. jobless rate ticked lower in Au...

Markets

Sep. 06, 2024

Weeks After Ether ETF Debut, ETH Market Liquidity Has Dropped by 20%

Ether's 5% market depth on U.S. exchanges has dropped by 20% since the introduction of spot ether ETFs in the U.S. Poor market conditions and seasonality effects are to be blamed, according to CCData. Exchange-traded funds (ETFs) will be net ...

Markets

Sep. 05, 2024

Aptos Leads Losses as Crypto Weakness Continues; Coinbase Shares Fall to 7-Month Lows

Cryptocurrencies continued trending to the downside as recession fears weighed on risk assets ahead of Friday's key jobs data report. Bitcoin {{BTC}} declined more than 4% at one point Thursday before bouncing to $56,500 at press time, off 2.2% ...

Markets

Sep. 05, 2024

Bitcoin Flounders Ahead of Friday Jobs Report That Might Push Fed to Slash Rates by 50 Basis Points

Tomorrow's August jobs report is likely to go a long way to determining the size of the upcoming Fed rate cut Fed easing cycles are normally associated with good things for bitcoin, but not so much this time around The U.S. government tomorro...

Markets

Sep. 05, 2024

First Mover Americas: BTC Erases Gains From Wednesday's Brief Rally

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: $1,797.26...

Markets

Sep. 05, 2024

Bitcoin Retraces Below $57K as 'Sell-on-Rise' Action Continues

BTC's price bounces remain shallow and brief as concerns about the U.S. economy linger. Crypto weakness may be a red flag for traditional risk assets, one analyst said. Bitcoin {{BTC}} dropped below $57,000 on Thursday, reversing Wednesday's ...

Markets

Sep. 05, 2024

Ether CME Futures Volume Shrinks as ETH ETFs Disappoint, Crypto Market Ducks Risk

Ether futures volumes on CME slipped in August as bitcoin volumes rose. Globally, there has been a shift from alternative cryptocurrencies and into bitcoin. Exchange-traded funds (ETFs) tied to the ether {{ETH}} price debuted in the U.S. late...

Markets

Sep. 04, 2024

First Mover Americas: Bitcoin Drops to Lowest Since August as U.S. Stocks Slide

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,786.39 ...

Markets

Sep. 04, 2024

Illiquid Bitcoin Entities Now Control Record 74% of BTC's Circulating Supply

The illiquid bitcoin has risen to a record high of 74% of the circulating supply. The level reflects the increasing scarcity of BTC in the market and a potential bullish impact on its price. Almost three-quarters of bitcoin produced is consid...

Markets

Sep. 04, 2024

Bitcoin Mining Profitability Is Stuck at Record Lows, JPMorgan Says

Bitcoin mining profitability is at a record low, the report said. The aggregate market cap of the U.S.-listed bitcoin miners tracked by the bank fell 15% last month, JPMorgan said. The bank noted that mining difficulty rose 9% from the previou...

Markets

Sep. 04, 2024

Solana's SOL Gets First Implied Volatility Index on Volmex

Volmex announces 14-day implied volatility index tied to SOL. More indices to be debuted in months ahead, Volmex said. Crypto derivatives protocol Volmex Finance unveiled a new implied volatility index for programmable blockchain Solana's SOL...

Markets

Sep. 04, 2024

Bitcoin ETFs Bleed $287M, Largest Daily Outflow in Four Months

The 11 U.S.-listed spot ETFs saw $287.8 million worth of outflows on Tuesday, according to Farside Investors. BTC traded lower as weak U.S. manufacturing data revived growth concerns. The U.S.-listed spot bitcoin {{BTC}} exchange-traded funds...

Markets

Sep. 04, 2024

Bitcoin Dives Under $56K as Asian Equities See Red

BTC briefly fell to $55,500, its lowest since August 8, to reverse nearly all gains in the past month. The August reading of the Institute for Supply Management’s manufacturing index slumped for a fifth straight month with a rebound from July b...

Markets

Sep. 03, 2024

Bitcoin Could Drop 20% After Fed Rate Cuts in Bearish Case, but Weak September Presents Buying Opportunity: Analysts

A 25 basis point Federal Reserve cut would be positive for markets, but a higher 50 point move would signal growing concerns of a recession and a deeper correction for risk assets, Bitfinex said in a report. A September price drop would present...

Markets

Sep. 03, 2024

Crypto Tuesday Crumble Sends Bitcoin Below $58K, Ether to 7-Month Low

Bitcoin and ether fell sharply as U.S. stocks posted large losses in early Tuesday trade It's a big week for U.S. economic data and the first report showed weakness alongside an uptick in inflation pressure September has often proven to be a p...

Markets

Sep. 03, 2024

First Mover Americas: Bitcoin Gain Checked by Hints of Further BOJ Rate Rises

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,857.87 ...

Markets

Sep. 03, 2024

Ripple Will Soon Add Ethereum Compatible Smart Contracts to XRP Ledger

Ripple will add Ethereum-compatible smart contracts via a new sidechain to XRP Ledger, expanding its functionality beyond basic transactions. This development includes using the Axelar network for cross-chain token transfers, with wrapped XRP (...

Markets

Sep. 03, 2024

Bank of Japan Governor Hints at More Rate Hikes; BTC Drops 0.4%

Kazuo Ueda reiterated the commitment to raise Japanese interest rates further. The yen rallied, while BTC and S&P 500 futures registered moderate losses. BOJ-Fed policy divergence points to continued yen strength and pain for risk assets, ...

Markets

Sep. 03, 2024

WazirX Hacker Starts to Move Stolen Ether Using Tornado Cash

The hacker stole $230 million from WazirX and began transferring funds through Tornado Cash. The hacker started moving nearly $4 million worth of ether to obscure the transaction trail. WazirX is undergoing restructuring after the hack and cus...

Markets

Sep. 02, 2024

First Mover Americas: Bitcoin Sits Around $58.5K at Start of Historically Bearish September

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,843.91 ...

Markets

Sep. 02, 2024

Key Week for Bitcoin and the Dollar Index

Tuesday's U.S. manufacturing data is likely to show continued contraction, signaling weakness in the dollar index and strength in bitcoin. Traders should watch out for an August-like growth scare in risk assets. Friday's U.S. jobs data could e...

Markets

Sep. 02, 2024

Donald Trumps Harris On Polymarket Once Again

Trump pulled ahead with a 51% chance of regaining the U.S. presidency. Traders have placed $99 million in on-chain bets on Trump winning the election, with over $95 million put on Harris. Election punters on Polymarket are favoring Republican...

Markets

Sep. 02, 2024

Bitcoin Drops Toward $57.5K, Extends Weekly Loss to 10% at Start of Seasonally Bearish September

Bitcoin dropped nearly 1.2% to around $57,500, with cryptocurrencies like solana and dogecoin seeing losses up to 5% on the Labor Day holiday in the U.S. Market analysis suggests a bearish trend for September historically, some traders noted, w...

Markets

Sep. 02, 2024

OKX Brings Update to Ease Bitcoin Arbitrage

OKX automates execution of the "funding rate arbitrage" strategy. The new offering allows traders of varied experience levels to maximized returns, OKX said. OKX, the world's third-largest crypto exchange by trading volume , announced a new ...

Markets

Aug. 30, 2024

Bitcoin Slips Back to $58K in Continued Desultory Action, but Next Week Could Offer Upside Excitement

In what's become a pattern over the past couple of weeks, bitcoin {{BTC}} is again trending lower during U.S. trading hours, the price sliding back to $58,000 just before noon on the east coast. Currently at $58,200, bitcoin is down just shy of ...

Markets

Aug. 30, 2024

First Mover Americas: BTC Little Changed, on Course to End August Down 8%

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,891 −1....

Markets

Aug. 30, 2024

Bitcoin Drops Under $59K as BTC Demand Wanes, BlackRock’s IBIT Logs Outflows for the Second Time

Bitcoin experienced a decline, falling below $59,000 with a weekly loss of over 3.5%, amidst signs of reduced demand and net outflows from major ETFs, such as BlackRock's IBIT. However, data shows an uptick in U.S. retail investor interest, evi...

Markets

Aug. 29, 2024

Bitcoin Returns to $59K as Bulls Fail to Flip Key Resistance; AI Cryptos Lead Losses

Bitcoin's {{BTC}} attempt for a bounce faded yet again during Thursday's U.S. trading session, the price breaking back below $59,000 after climbing above $61,000 earlier. BTC was still holding on some of its gains over the past 24 hours, up 0.6%...

Markets

Aug. 29, 2024

El Salvador's Bukele Says Bitcoin Strategy a 'Net Positive,' but Adoption Lags

Bitcoin brought "branding, investments and tourism" to El Salvador, President Bukele said in a TIME Magazine interview. The crypto, though, hasn't yet enjoyed the "widespread adoption" in the country as hoped for, he added. Under Bukele, El Sa...

Markets

Aug. 29, 2024

Crypto for Advisors: Crypto Market - A Week in Review

In today’s issue, Xinghua Luo from Pioneer Asset Management Limited provides a summary of market activity including a US Inflation Rate and Federal Reserve Outlook, ETF Developments and overall crypto flows. Then, Jason Leibowitz from Ha...

Markets

Aug. 29, 2024

First Mover Americas: BTC Regains $60K Following Slide This Week

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,930 −0....

Markets

Aug. 29, 2024

Crypto Market Has Evolved in the Past Year, Canaccord Says

The crypto market is back in growth mode following a period of consolidation, the report said. Canaccord noted that the launch of spot ETFs in the U.S. has led to broader institutional adoption of digital assets. Institutional allocations to c...

Markets

Aug. 29, 2024

Polymarket Bettors Miss Out on $270K Due to Pavel Durov's Early Release

Bettors on Polymarket were largely wrong about how long Telegram CEO Pavel Durov would be detained by French authorities. Durov was released on bail on Aug. 28, earlier than many bettors anticipated. French authorities are no longer holding T...

Markets

Aug. 29, 2024

TON Back Online After Second Outage

The TON blockchain is back online after a second outage. Toncoin is up roughly 8% on the news. TON is once again back online after going to the DOGS a second time within 24 hours. "TON network is fully operational! TON-based asset withdrawal...

Markets

Aug. 28, 2024

Bitcoin Bounce Fizzles as Nvidia's Slide Ahead of Earnings Adds to Risk-Off Mood

A pleasant Tuesday summer evening in the U.S. was upended when bitcoin {{BTC}} plunged nearly 6% in a handful of minutes, more than erasing sizable gains seen late last week after a dovish turn by Federal Reserve Chair Jerome Powell and the te...

Markets

Aug. 28, 2024

Blur, Tensor Tokens Dip After NFT Marketplace OpenSea Receives SEC Wells Notice

Cryptocurrencies of non-fungible token ( NFT ) marketplaces dipped during Wednesday U.S. morning hours following news of OpenSea facing potential U.S. regulatory action . Adding to earlier losses alongside a broad crypto decline begun Tuesday e...

Markets

Aug. 28, 2024

Ether Spot ETF Flows Have Underwhelmed Versus Bitcoin: JPMorgan

Ether spot ETFs have seen net outflows overall since their launch, said the team at JPMorgan. The outflows from the Grayscale Ethereum Trust were much larger than the bank had originally anticipated. The bank noted growing interest from asset ...

Markets

Aug. 28, 2024

First Mover Americas: TON Blockchain Resumes After 6-Hour Outage

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,934 −3....

Markets

Aug. 28, 2024

Institutional Investors Continue to Increase Digital Asset Allocation: Economist Report

Institutional investors continue to remain bullish about digital assets, embracing instruments beyond holding crypto like staking and derivatives. Even though they are bullish, challenges to further adoption remain on the horizon. Institution...

Markets

Aug. 28, 2024

Toncoin Trims Losses, Beats Bitcoin and Ether, as TON Blockchain Comes Back Online

TON performed better than most of the market as the protocol restarted its blockchain. Most major tokens were in the red, including AI tokens which had been riding high on anticipation of strong Nvidia earnings. Toncoin {{TON}} has trimmed so...

Markets

Aug. 28, 2024

TON Blockchain Grinds to a Standstill With No Blocks Produced for Over 3 Hours

The TON blockchain hasn't produced a new block in over three hours. This downtime might have been a result of a new memecoin called DOGS crashing the network. TONcoin {{TON}}, the native token of the TON blockchain, is down 5% late Wednesday,...

Markets

Aug. 27, 2024

Bitcoin Price Falls Below $59K Amid Broad Market Rout; Ether Slumps Almost 10%

Cryptocurrencies suffered substantial losses as the U.S. business day came to a close, with bitcoin {{BTC}} tumbling below $59,000 and Ethereum's ether {{ETH}} losing almost 10%. Bitcoin had topped $62,700 earlier in the day, but recently was do...

Markets

Aug. 27, 2024

Bitcoin Slides Below $62K as Consolidation Drags on, but Traders Eye Possible Parabolic Rally

BTC is down 3% in the past 24 hours, with ETH, AVAX, LINK and UNI leading altcoin losses. Bitcoin's weekly Bollinger Bands compressed to similar levels seen not just last October, but in other episodes prior to big rallies, crypto trader Crypto...

Markets

Aug. 27, 2024

Trump Unlikely to Drop Out of ABC Debate With Harris Despite Threats: Polymarket Traders

Donald Trump has made noises about pulling out of a Sept. 10 debate with opponent Kamala Harris, but traders on Polymarket apparently reckon it's just that – noise. "Yes" shares for "Will Trump debate Kamala on Sept. 10?" were trading at 84 ce...

Markets

Aug. 27, 2024

Nasdaq Looks to Offer Bitcoin Options, Following Rival NYSE’s Plans

Nasdaq is seeking approval to launch and trade bitcoin options. This follows an announcement by the New York Stock Exchange earlier this year that is was also looking to list bitcoin index options. Neither have yet received the green light fro...

Markets

Aug. 27, 2024

First Mover Americas: Bitcoin Drops as Traders Take Profits

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,004 −3....

Markets

Aug. 27, 2024

Bitcoin Drops Below $63K on Profit Taking as SafePal’s SPF Gets Points Boost

Bitcoin fell below $63,000, marking a 1.4% drop in 24 hours, influenced by profit-taking after a recent rally. QCP Capital noted options-market activity that suggests a generally bullish mood, but not an explosive move higher in the short term....

Markets

Aug. 27, 2024

Crypto Market Has Struggled Since Spot Ether ETFs Started Trading: Citi

The crypto market has struggled since the launch of spot ether ETFs, the report said. Citi noted that spot bitcoin and ether ETFs have seen net outflows in the past month. Stablecoins have been the outlier, with market caps continuing to grow,...

Markets

Aug. 27, 2024

Telegram CEO Pavel Durov Could be Free by October, Polymarket Bettors

Telegram CEO Pavel Durov was arrested in France over the weekend. Bettors on Polymarket are putting money on him remaining in custody after the 96-hour deadline prescribed by courts, as there's a growing belief he may be formally charged. Tel...

Markets

Aug. 26, 2024

PayPal's Stablecoin Hits $1B Market Cap as Incentives Boost Activity on Solana

PayPal's PYUSD reached $1 billion in supply, per CoinMarketCap data. The stablecoin benefited from its expansion to the bustling Solana ecosystem, with its supply on the network already surpassing that on the Ethereum blockchain. Yield incenti...

Markets

Aug. 26, 2024

Tokenized Treasury Funds Pass $2B Market Cap Amid BlackRock’s Explosive Growth

Tokenized Treasury notes passed $2 billion in market cap after rapid growth from Blackrock's BUIDL and other issuers. This comes only five months after the funds hit the $1 billion milestone in March. Less than five months after hitting $1 bi...

Markets

Aug. 26, 2024

Did RFK Jr. Really 'Drop Out'? Polymarket Bettors Argue Over Contract Resolution

This week in prediction markets… Did RFK Jr. really drop out? How long will Telegram's Pavel Durov be in detention? Mpox won't be a pandemic this year, bettors say As last week came to a close, Robert F. Kennedy Jr. said he was putting hi...

Markets

Aug. 26, 2024

First Mover Americas: Bitcoin Consolidates at $64K Before Next Push Higher

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 2,077 +0....

Markets

Aug. 26, 2024

Bitcoin ETFs Log $250M Net Inflows, Highest Since July, After Rate Cut Signal at Jackson Hole

U.S.-listed spot bitcoin ETFs saw significant activity with over $252 million in net inflows and trading volumes exceeding $3.12 billion, driven by positive market sentiment following comments at the Jackson Hole symposium. BlackRock's IBIT and...

Markets

Aug. 26, 2024

AI Tokens Lead Crypto Market Ahead of Nvidia Earnings, Bitcoin Under $64K

Major cryptocurrencies like Ether, Solana, and XRP showed slight losses over the past 24 hours, despite a general uptick over the weekend. AI-related tokens like Artificial Superintelligence Alliance's FET and Bittensor's TAO led the market gai...

Markets

Aug. 26, 2024

Telegram Says it is Compliant With EU Digital Services Act After Founder Pavel Durov's Arrest

Telegram said in a statement that it is compliant with all EU laws. The platform said it's always working to improve its content moderation practices. Messaging app Telegram said that it is fully complies with European Union law and its conte...

Markets

Aug. 25, 2024

TON Down 14% as Telegram CEO Pavel Durov Arrested in France

Toncoin posted double-digit loss as French media reported that Telegram CEO Pavel Durov was arrested in the country. The arrest comes as French authorities consider Durov complicit in crimes organized via Telegram because of the platform's lack...

Markets

Aug. 23, 2024

Bitcoin Surges to Nearly $64K, Adding to Gains as RFK Jr. Endorses Trump

Sluggish crypto prices were on the receiving end of two positive catalysts on Friday, first as U.S. Federal Reserve Chairman Jerome Powell confirmed that a monetary easing cycle will begin next month, and then as crypto-friendly RFK Jr. threw h...

Markets

Aug. 23, 2024

Fed Chair Jerome Powell: Time Has Come for Policy to Adjust

As expected, Jerome Powell indicated that a rate cut is coming in September Bitcoin and traditional markets at least initially have moved sharply higher Investors will now focus on whether the initial rate cut will be 25 or 50 basis points A...

Markets

Aug. 23, 2024

First Mover Americas: Will BTC React to Powell’s Jackson Hole Speech?

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,987 +1....

Markets

Aug. 23, 2024

Bitcoin Mining Opportunity Is Worth About $74B, JPMorgan Says

The bank reduced its CLSK, IREN, MARA and RIOT price targets to account for second-quarter results and changes in the price of bitcoin and the network hashrate. JPMorgan prefers Iren and Riot Platforms, and says recent underperformance in these...

Markets

Aug. 23, 2024

DeFi Summer Is Making a Comeback, Steno Research Says

Decentralized finance is making a comeback, and the total value locked in the crypto market is expected to hit an all-time high next year, the report said. Steno said interest rates are the most important factor in influencing DeFi's appeal. T...

Markets

Aug. 23, 2024

Bitcoin Tops $61K Ahead of Jackson Hole as Ether ETFs Extend Record Outflow Streak

Bitcoin has been mostly trading between $59,000 and $61,000, with traders eyeing the Jackson Hole meeting for potential market-moving comments. Most major cryptocurrencies were little changed, while ADA and AVAX experienced notable gains. Whil...

Markets

Aug. 22, 2024

Fed Chair Jerome Powell Expected to Set Stage for September Rate Cut

Jerome Powell is seen prepping markets for a 25 basis point rate cut at the Fed's September meeting The Fed chair is also anticipated to signal a cautious approach to cutting rates further Traditional markets have been in rally mode, but bitco...

Markets

Aug. 22, 2024

Memecoin Frenzy Reaches Tron as Justin Sun-Backed SunPump Rakes in Big Bucks

SunPump has generated over $1 million in under two weeks by enabling users to create and trade meme coins easily. It has seen significant activity with over 7,300 tokens created in 24 hours, earning substantial revenue. Early investors in meme ...

Markets

Aug. 22, 2024

First Mover Americas: Bitcoin Advances Following Reports of RFK Jr. Withdrawal

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,968 +2....

Markets

Aug. 22, 2024

Crypto OTC Desks Now Hold Over $22B in Bitcoin: CryptoQuant

The number of BTC held in wallets tied to over-the-counter (OTC) desks has surged to 368,000 BTC, the highest since June 2022, according to CryptoQuant. Miners often turn to OTC deals to sell bitcoin. Crypto over-the-counter (OTC) desks, whic...

Markets

Aug. 22, 2024

Bitcoin Flipflops; MATIC, LINK Surge as Dim Market Action Continues

Bitcoin (BTC) trades sideways between $59,900 and $61,000. The overall crypto market cap slightly retreated to $2.1 trillion after failing to break through the $2.15 trillion mark. Major tokens like ETH, SOL, and BNB saw minor gains, while TRX ...

Markets

Aug. 22, 2024

Bitcoin's Uptrend Threatened by Looming 'Stochastics' Signal: Fairlead Strategies

Bitcoin's monthly stochastic is teasing an "overbought downturn," indicating a weakening of bullish momentum, according to Fairlead Strategies. Other indicators like the MACD also suggest the same. Since November 2022, bitcoin's {{BTC}} price...

Markets

Aug. 21, 2024

RFK Jr. Reportedly Dropping Out of Presidential Race, Mulling Trump Endorsement; Bitcoin Jumps Past $61K

Robert Kennedy Jr. is planning to drop out of the 2024 presidential race by the end of this week, reported ABC News on Wednesday. The story goes further, saying sources indicate Kennedy is leaning toward endorsing GOP presidential candidate Do...

Markets

Aug. 21, 2024

Bitcoin Gets Brief Boost After U.S. Employment Growth Revised Lower

The strong U.S. jobs market through 2023 and early 2024 was a bit less strong than thought, providing a very brief, very modest bump to the sluggish price action in bitcoin {{BTC}} during mid-morning U.S. trading. According to the latest revisio...

Markets

Aug. 21, 2024

BlackRock’s ETHA Becomes First Ethereum ETF to Cross $1B in Net Inflows

BlackRock's iShares Ethereum Trust (ETHA) has surpassed $1 billion in cumulative net inflows, making it the first among 11 issuers to reach this milestone. Ethereum ETFs as a whole have seen cumulative net outflows of over $440 million, underpe...

Markets

Aug. 21, 2024

Cipher's Bitcoin Mining Business Remains Compelling, Canaccord Says

Canaccord raised its Cipher Mining price target to $7 from $6 while maintaining its buy rating on the shares. The company's bitcoin mining business remains a standout in the sector, the report said. The miner has real artificial intelligence o...

Markets

Aug. 21, 2024

First Mover Americas: Bitcoin Holds Below $60K Before U.S. Jobs Data Revision

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,915 −1....

Markets

Aug. 21, 2024

Bitcoin Metrics Signal Weak Demand as BTC ETF Hype Slows: CryptoQuant

On-chain data indicates a significant slowdown in bitcoin demand since early April, with metrics like CryptoQuant's demand indicator showing negative growth, reflecting increased selling. Despite the bearish signals, some metrics remain robust....

Markets

Aug. 21, 2024

Institutions Are Still Buying Bitcoin ETFs, Bitwise Says

The biggest question in crypto at the moment is whether institutional investors will allocate to the asset class in a big way, the report said. Bitwise noted that the total number of institutional investors holding bitcoin ETFs rose 14% in the ...

Markets

Aug. 21, 2024

Trump Tops Harris On Polymarket; Tron, Cardano in Green as Bitcoin Sinks

Major altcoins like ETH, Solana's SOL, BNB and XRP, dropped as bitcoin's struggle to move past $60K. Tron's TRX and Cardano's ADA showed gains, with TRX particularly benefiting from increased network activity due to a new memecoin generator. D...

Markets

Aug. 21, 2024

Mt. Gox Moves $700M in Bitcoin, BTC Unmoved at $59K

Defunct exchange Mt. Gox moved 13,265 BTC on-chain, according to Arkham Intelligence. According to Galaxy's Alex Thorn expects only 1,265 BTC may be offloaded in the market. Mt. Gox-related selling pressure might raise its head again in the b...

Markets

Aug. 20, 2024

First Mover Americas: Bitcoin Returns to $61K, Outperforms Broader Crypto Market

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,950 +3....

Markets

Aug. 20, 2024

U.S. Leading Economic Indicators Continue to Fall, No Longer Signal Recession

The Conference Board's leading indicators no longer signal recession. The U.S. recession fears were partly responsible for the early August slide in stocks and cryptocurrencies. The leading U.S. economic indicators are still pointing to a slo...

Markets

Aug. 20, 2024

U.S.-Listed Bitcoin Miners Have the Upper Hand Over Unlisted Peers: Bernstein

Miners listed in the U.S. have an advantage over private peers as they can raise capital easily, the broker said. Bernstein said it sees the large publicly traded U.S. bitcoin miners as consolidators in the sector. Leading miners should focus ...

Markets

Aug. 20, 2024

Floki Scores Major Deals With English Premier League Teams

Floki has signed deals with various English Premier League teams to feature its FLOKI token and upcoming game, Valhalla. FLOKI will be the cryptocurrency partner for Nottingham Forest, Valhalla will appear on Sunderland AFC jerseys and on-scree...

Markets

Aug. 20, 2024

Bitcoin Pops Over $61K, XRP Leads Gains Among Majors

Bitcoin was trading above $61K during the Asian trading day, and Polymarket bettors are forecasting some price stability for the rest of the week. Traders are looking to Jerome Powell's remarks at the end of the week for indications of where pr...

Markets

Aug. 20, 2024

U.S. Elections-Linked Bitcoin Options Draw Nearly $350M in Open Interest

Traders have locked in $345 million in bitcoin options expiring four days after the Nov. 4 elections. Distribution of open interest shows bullish sentiment, according to Wintermute. Crypto traders speculating on how the impending U.S. electi...

Markets

Aug. 19, 2024

Harris Leads Trump on Polymarket as DNC Begins, but They Got Tied Earlier Amid Volatility

This week in prediction markets: Trump-Harris makes for a volatile market RFK is seen dropping out by November, but probably won't endorse Trump China's "bitcoin ban" is more complicated than Justin Sun thinks Bettors trade volatile electio...

Markets

Aug. 19, 2024

First Mover Americas: XRP Outperforms as Digital Assets Start Week in the Red

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,875 −2....

Markets

Aug. 19, 2024

Attention Bitcoin Traders, the Japanese Yen Is Strengthening Again

The FX market shows a renewed bias for anti-risk Japanese yen. A similar yen outperformance early this month, triggered carry unwind and rocked risk assets, including cryptocurrencies. Some observers fear another round of carry unwind in the n...

Markets

Aug. 19, 2024

TON Leads Crypto Majors as BTC, ETH Remain Flat

TON led gains in the crypto market on Monday as HashKey announced a partnership with popular GameFi project Catizen. DYDX is also up as traders continue to be optimistic about weekly gains in its volume. Bitcoin {{BTC}}, ether {{ETH}} and mos...

Markets

Aug. 16, 2024

Bitcoin Mining Profitability Fell to All Time Lows in August, JPMorgan Analyst Says

Mining profitability fell to all time lows as the network hashrate rose in the first two weeks of August, the report said. U.S. miners' share of the Bitcoin network hashrate rose to a new record high of 26%, the bank said. The bank noted that ...

Markets

Aug. 16, 2024

First Mover Americas: Crypto Trades Little Changed Following Thursday's Slide

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,888 −0....

Markets

Aug. 16, 2024

Bitcoin, Ether Held in BlackRock ETFs Cross Those of Grayscale’s for the First Time

BlackRock's spot Bitcoin (IBIT) and Ether (ETHA) ETFs have surpassed Grayscale's equivalent funds in assets under management. As of the latest data, BlackRock's ETFs collectively manage over $21.217 billion, slightly more than Grayscale's $21.2...

Markets

Aug. 16, 2024

Record Drop in Ethereum Gas Fees Marks Historically Bullish Signal For ETH, Analyst Says

Ethereum's gas fees plummeted to a five-year low earlier this week, with some attributing the drop to users and applications migrating to trendier blockchains. Analyst Ryan Lee suggests that historical data shows a correlation between low gas f...

Markets

Aug. 15, 2024

Bitcoin Tumbles Back Under $58K as Crypto Quickly Crumbles Thursday Afternoon

Several days of mostly quiet price action came to a fast end during U.S. trading hours Thursday afternoon, with cryptocurrencies suddenly plunging and sending bitcoin {{BTC}} to its weakest level since just after the early August market panic. A...

Markets

Aug. 15, 2024

Crypto for Advisors: Crypto Volatility and Market Conditions

Is crypto’s volatility a feature or a bug? In today’s issue, Miguel Kudry , CEO of L1 Advisors explores cryptocurrencies performance and its relation to market conditions. In Ask an Expert, Kevin Tam from Raymond James Ltd. looks at insti...

Markets

Aug. 15, 2024

Stablecoin Supply Growth Isn't Eating Into Crypto Market Share: JPMorgan

Stablecoin growth is a reflection of an increase in total crypto market cap following gains in bitcoin and ether this year, the report said. The bank noted that stablecoin market share as a percentage of the total crypto market cap is little ch...

Markets

Aug. 15, 2024

First Mover Americas: Bitcoin Drops to Under $58K After U.S. CPI Data

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,888 −3....

Markets

Aug. 15, 2024

Bitcoin Mining Was Less Profitable in July Than June, Jefferies Says

Bitcoin mining was marginally less profitable last month, the bank said. Jefferies cut its Marathon Digital price target to $17 from $22. U.S-listed mining companies produced a larger share of bitcoin in July, the report said. Bitcoin {{BTC}...

Markets

Aug. 15, 2024

Bitcoin Drops to $58K After U.S. CPI Print, BTC ETFs Record $81M Outflow

Bitcoin fell over 4% to around $58,000, leading to a broader market drop where other major cryptocurrencies like Ether, Solana, Cardano, BNB Chain, and XRP fared slightly better, with losses ranging from 2.5% to 3.8%. The decline came after by ...

Markets

Aug. 14, 2024

Nearly $600M of Silk Road Bitcoin Hits Coinbase Prime, but Not Necessarily to Sell

The U.S. government Wednesday moved 10,000 Silk Road-related seized bitcoin {{BTC}} to Coinbase Prime, the exchange giant's institutional platform, blockchain data by Arkham Intelligence shows. The crypto wallet that initiated the transfer r...

Markets

Aug. 14, 2024

The Anatomy of a Meltdown (and Just BTFD)

There has been much consternation in traditional markets of late, with a variety of reasons to blame. First, the Bank of Japan raised interest rates to combat the falling yen, causing traders to unwind yen-carry trade positions. Second, worries a...

Markets

Aug. 14, 2024

Bitcoin Price May Turn Lower as Crypto Exchanges See $1B USDT Withdrawal: IntoTheBlock

Bitcoin started a downtrend soon when USDT exchange outflows surpassed $1 billion earlier this year, "suggesting investors may be adopting a risk-off stance," IntoTheBlock said. The current price action "feels eerily similar" to last year's whe...

Markets

Aug. 14, 2024

Hut 8 Upgraded to Buy, Risk Reward Is to the Upside: H.C. Wainwright

Hut 8 double upgraded to buy from sell at H.C. Wainwright. The risk-reward for the shares is now skewed to the upside, the report said. The probability of Hut 8 signing an HPC/AI customer in the near-term has increased, the broker said. Hut ...

Markets

Aug. 14, 2024

U.S. CPI Rose 0.2% in July, Matching Expectations

Inflation in July for the U.S. came in mostly as forecast as the stage continues to be set for the Federal Reserve to begin cutting rates at its upcoming mid-September meeting. The Consumer Price Index rose 0.2% in July, according to a U.S. gove...

Markets

Aug. 14, 2024

First Mover Americas: BTC Tops $61K, But Traders Remain Cautious

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,961 +3....

Markets

Aug. 14, 2024

Pump.Fun's Removal of $2 Issuance Charge Pushes Daily Fees to All-Time Highs, But Users are Unhappy

Pump.Fun , a Solana-based token generator, set a lifetime record by generating $5.3 million in fees over the past 24 hours, surpassing all other platforms, including blockchains like Ethereum, Tron, and Solana itself. Pump.Fun recently elimi...

Markets

Aug. 14, 2024

Bitcoin Miner Capitulation and Record High Hashrate Points to Possible Price Bottom: CryptoQuant

Miners are increasing their network hashrate despite a recent drop in bitcoin prices, signaling a positive sentiment after a capitulation event that has typically marked price bottoms. A significant miner capitulation was observed with a spike ...

Markets

Aug. 14, 2024

Bitcoin Crosses $61K as Traders Remain Cautious Ahead of U.S. CPI, Further Unwinding of Yen Carry Trade

BTC moved past $61K during the Asia trading day, beating the CD20. Traders continue to remain bullish on TON because of its integration with Telegram and growing GameFi ecosystem. Bitcoin {{BTC}} surged above $61,000 in early Asian trading ho...

Markets

Aug. 14, 2024

Goldman Sachs Holds Over $400M in Bitcoin ETFs

Goldman Sachs owns positions in seven out of the 11 bitcoin ETFs. Earlier, the bank had said "we're not believers in crypto." Goldman Sachs (GS) holds positions in a variety of bitcoin {{BTC}} exchange-traded funds (ETFs), according to a 13...

Markets

Aug. 13, 2024

Trump Election Win May be Bullish For Cryptocurrency Markets, Bernstein Says

Crypto market sentiment indicates that a Trump election win would be a more bullish outcome, Bernstein said in a report. The broker notes that bitcoin weakened as Polymarket odds and polls shifted in Harris' favor. Trump supporters have called...

Markets

Aug. 13, 2024

Crypto Wallet Holding $2B Mt. Gox Bitcoin Sends Test Transaction as Distribution Continues: Arkham

Wallet that received $2 billion from Mt. Gox initiated a test transaction on Tuesday. Arkham analysts said the wallet likely belongs to crypto custody platform BitGo. Users on Reddit are making unverified claims about receiving BTC and BCH bal...

Markets

Aug. 13, 2024

First Mover Americas: BTC Muted After Crypto Goes Unmentioned in Musk-Trump Interview

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,900 −1....

Markets

Aug. 13, 2024

Bitcoin Likely to Fall by $5K Than Rise by Same Amount: Analyst

The BTC market shows signs of seller dominance, FxPro's analyst said. BTC's recovery has stalled with Harris pulling ahead of Trump in prediction markets. Bitcoin's {{BTC}} swift recovery from the sub-$50,000 price seen last Monday has restor...

Markets

Aug. 13, 2024

Hamster Combat Says It Skipped VC Fund Offers, Bashes 'Exit Liquidity' Behaviour

Hamster Combat, a viral play-to-earn crypto game, criticized venture capital funding as an "exit liquidity" activity and turned down all investment offers. Developers said they hope to "return to the fundamentals of the web3 space," by focusing...

Markets

Aug. 13, 2024

Bitcoin's Prospects Strengthen as Key Stablecoin Metric Slides to Lowest Level in 18 Months

Dwindling "exchange stablecoins ratio" points to declining selling pressure in the BTC market, CryptoQuant said. Supply of the top two stablecoins, USDT and USDC, continues to rise. Bitcoin {{BTC}} has quickly recovered to nearly $60,000 afte...

Markets

Aug. 13, 2024

Ether Beats CD20 as ETH ETFs Post Positive Inflows, DEX Tokens Rise

Ether pulled ahead of bitcoin and the CD20 during the Tuesday trading day in Asia as ETH ETFs reversed their outflow trends. Many DEX tokens were also up as some of the largest protocols showed positive trends in fee generation. Ether {{ETH...

Markets

Aug. 12, 2024

Ether ICO Whale Moves 5K ETH to Exchanges, Bringing Monthly Total to $154M

The wallet has deposited a total of 48,500 ETH to OKX in the past 35 days. Depositing to an exchange could mean the holder is preparing to sell tokens. The wallet continues to hold 15,600 ETH in a GnosisSafe wallet. A whale who received 1 mi...

Markets

Aug. 12, 2024

First Mover Americas: BTC Slides Ahead of Busy Data Week

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,925 −2...

Markets

Aug. 12, 2024

XRP Bullish Options' Popularity Jump May Be Due to ETF Speculation, Observers Say

Traders have locked in over $2 million in XRP's $1.10 call option listed on Deribit, the highest across all available maturities. The large open interest in the nascent XRP options market likely reflects ETF optimism. Deribit's nascent opti...

Markets

Aug. 12, 2024

Ex-Bank of Japan Official Rules Out Another Rate Hike This Year

Makoto Sakurai ruled out additional rate hikes this year, offering hope to risk assets. The next move may come in March 2023, the official said A former Bank of Japan (BOJ) official said the central bank would defer additional interest rate h...

Markets

Aug. 12, 2024

Bitcoin Nears $58K as Market Slides Ahead of Busy Data Week

BTC and the broader crypto market experienced a selloff over the weekend, with BTC trading slightly above $58,500, down 4.8% in the last 24 hours. U.S.-listed exchange-traded funds (ETFs) tracking these assets recorded outflows on Friday, with...

Markets

Aug. 12, 2024

Dragonfly, Crypto.com Weigh in on CFTC's Proposed Prediction Market Rules

The CFTC's notice of proposed rulemaking for prediction markets drew various comments from the public, including the crypto industry. Crypto industry stakeholders say the rules are too broad and would constitute an overreach, considering the re...

Markets

Aug. 09, 2024

Bitcoin's 12% Price Rally on Thursday Was The Biggest Since February 2022

BTC ended Thursday UTC with a nearly 12% gain, the biggest since Feb. 28, 2022, according to TradingView. Risk assets stabilized as upbeat weekly U.S. jobs data eased recession concerns. Observers cite $61,800 and $54,000 as key levels to watc...

Markets

Aug. 09, 2024

First Mover Americas: Bitcoin Reclaims $62K, Bulls Revisit $100K Target

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,961 +3....

Markets

Aug. 09, 2024

Bitcoin Bulls Revisit $100K Year-End Target as BTC Spikes Over $62K

Bitcoin surged over $62,000 briefly before retreating, following a broad market rally that reversed steep losses from earlier in the week. Some analysts predicted a $100,000 target for the cryptocurrency later this year. The rally was influenc...

Markets

Aug. 08, 2024

A Trump-Themed Token Soars, Then Dives 95% After His Son Dashes Hope the Former President Backed It

A newly launched cryptocurrency on Solana {{SOL}} called Restore the Republic, or RTR, which was rumored to be the official token of Donald Trump, ballooned to $155 million market value before cratering 95% on Thursday after the former president'...

Markets

Aug. 08, 2024

Bitcoin Nears $60K as Crypto Bounce Accelerates, but Recovery Might Be Choppy

Cryptocurrencies continued their rebound higher on Thursday with bitcoin {{BTC}} nearing $60,000 for the first time since last weekend's carnage. Bitcoin advanced 6.4% over the past 24 hours, currently changing hands at $59,500. Ether {{ETH}} to...

Markets

Aug. 08, 2024

Franklin Templeton's Tokenized Money Market Fund Expands to Arbitrum

Franklin Templeton, a $1.5 trillion asset manager, has made its OnChain U.S. Government Money Market Fund (FOBXX) available on Ethereum via layer-2 blockchain Arbitrum, the company said Thursday. This is the third blockchain where the fund's...

Markets

Aug. 08, 2024

First Mover Americas: Crypto Prices Little Changed, XRP Surges

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,892 +1....

Markets

Aug. 08, 2024

XRP Jumps 17%, Beating Bitcoin Gains, as Ripple-SEC Case Ends

XRP surged 17% following a settlement in the case involving Ripple Labs and the U.S. Securities and Exchange Commission (SEC). This led to a jump in its price from 50 cents to 65 cents and a significant increase in trading volumes. The settleme...

Markets

Aug. 08, 2024

Bitcoin Faces Risk From 'Maxed Out' U.S. Consumers, Analyst Says

U.S. consumers accumulate debt at a slower rate amid rising credit card delinquencies. Slower borrowing means the fiat-to-crypto onramp will remain constrained, 10x Research said. Although the unwinding of the yen carry trade has likely pa...

Markets

Aug. 08, 2024

Kamala Harris, Donald Trump Tied on Polymarket on Who Will Be The Next U.S. President

Donald Trump and Kamala Harris are now tied on Polymarket, with bettors giving them equal odds of taking the White House. Trump-themed memecoins are also down significantly over the last month. Former President Donald Trump began the election...

Markets

Aug. 07, 2024

Crypto Turns Broadly Lower in U.S. Afternoon Trade as Stocks Give Away Gains

The price of bitcoin {{BTC}} has tumbled after rallying earlier Wednesday as U.S. stocks gave up a sizable early advance to turn lower in U.S. mid-afternoon action. Bitcoin {{BTC}} at press time was trading at $54,800, down just shy of 4% from 2...

Markets

Aug. 07, 2024

Solana Hits All-Time High Against Ether, Outperforms Bitcoin in Crypto Rebound

Cryptocurrencies continued their bounce from Monday lows on Wednesday, with layer-1 network Solana's token {{SOL}} being the fastest horse during the rebound. The sharp relative move higher for SOL pushed it to an all-time high relative to ether...

Markets

Aug. 07, 2024

Long-Dormant Wallets Tied to $2B PlusToken China Ponzi Moves 2.8K Ether

Hundreds of wallets linked to the seized $4.2 billion PlusToken Ponzi scheme have begun moving thousands of ether (ETH), raising concerns about potential market pressure. The movement of funds, totaling approximately 2,800 ETH, was tracked from...

Markets

Aug. 07, 2024

First Mover Americas: BoJ Comments Offer Relief to Crypto

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,869 +4....

Markets

Aug. 07, 2024

WOO X Now Lets Traders Bet on Upcoming Tokens

Crypto futures platform WOO X started a prelaunch perpetual futures market that lets users bet on the prices of upcoming tokens that have yet to be issued, a representative told CoinDesk on Wednesday. Such markets can enable traders to engage in...

Markets

Aug. 07, 2024

CoinShares Netted $513.1M Profit in Q2

However, CoinShares also noted a loss of $481.42 million on the fair value of digital assets. Once accounted for this depreciation, CoinShares' comprehensive income for the quarter was $32.6 million. Crypto asset manager CoinShares (CS) recor...

Markets

Aug. 07, 2024

Solana-Based Memecoins Surge as SOL Jumps 38% From Monday's Lows

Cat-themed token POPCAT and dog-themed WIF jumped 25%, while smaller tokens MUMU and CATDOG were up 30%. The surge in Solana-based tokens contrasted with declines in major memecoins on other blockchains. Memecoins on the Solana ecosystem surg...

Markets

Aug. 07, 2024

Bitcoin's Impending 'Death Cross' May Trap Bears as Bank of Japan Eases Rate Concerns

BOJ's Uchida downplayed rate hike concerns amid market volatility. The anti-risk yen slides while BTC and stock futures rise after Uchida's comments. The renewed risk-on hints at a possible bitcoin death cross bear trap. It appears bitcoin's...

Markets

Aug. 06, 2024

Bitcoin Whales Increased Holdings During Crypto Market Mayhem, but ETF Investors Didn't Buy the Dip

Bitcoin wallets holding between 1,000 and 10,000 BTC increased their holdings while prices slid over the past few days, while those owning less than 1 BTC were sellers, IntoTheBlock data shows. Bitcoin ETFs saw $168 million net outflows on Mond...

Markets

Aug. 06, 2024

Trump-Themed ‘DJT’ Token, Issued by Martin Shkreli, Suddenly Dives 90%

The DJT token, previously said to be associated with Donald Trump and his son Barron, plummeted 90% after a single wallet sold $2 million worth in one transaction, reducing its market cap to $3 million from $55 million. Previously, Martin Shkre...

Markets

Aug. 06, 2024

First Mover Americas: Crypto Rebounds From Monday's Chaos

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: 1,782 +8....

Markets

Aug. 06, 2024

Bitcoin's Unreliable Death Cross Is Looming Again

The bitcoin price is staring at the death cross, a pattern that trapped bears on the wrong side of the market last September. BTC's near-term prospects are closely tied to the health of the U.S. economy and volatility in the Japanese yen. Som...

Markets

Aug. 06, 2024

Ethereum ETFs Scored $49M Inflows as ETH Plunged

Despite a sharp 20% drop in price, U.S.-listed spot ether exchange-traded funds (ETFs) saw net inflows of nearly $49 million on Monday, indicating strong demand. Meanwhile, some pointed to the resilience of the Ethereum network in the face of t...

Markets

Aug. 06, 2024

ARK Bought $17.8M of COIN, $11.2M of HOOD as Market Slumped

This was ARK's first COIN purchase since June 6, 2023. ARK Invest often loads up on shares when their prices slide, usually with a view to offloading them one their prices tick up again. ARK Invest took advantage of Monday's massive market sl...

Markets

Aug. 06, 2024

These Two Bitcoin Indicators Offer Light in a Gloomy Marke

BTC's long-term options market indicator continues to signal bullish bias. Key indicator shows signs of bargain hunting during the price drop. Bitcoin {{BTC}} has had a horrible August, falling over 13% to as low as $50,000 in the first five ...

Markets

Aug. 06, 2024

Bitcoin Jumps Above $56K, Solana Leads Recovery From Monday's Rout

Bitcoin and Japanese stocks look to stabilize amid rate cut talks. Institutional investors sold spot ETFs Monday. Bitcoin (BTC) zoomed above $56,000 early Tuesday amid a broader market recovery in Asia as bargain hunters stepped in after ...

Markets

Aug. 05, 2024

Bitcoin Bounces to $53K After Brutal Sell-Off Reminiscent of Covid Crash

Crypto prices rebounded only a bit with bitcoin {{BTC}} hitting $55,000 during the U.S. trading session Monday after earlier in the day plunging to just above $49,000. At press time, bitcoin was trading at $53,000, down 10% over the past 24 hour...

Markets

Aug. 05, 2024

Is Bitcoin Still a Store of Value?

On days like this, it's easy to scoff at bitcoin {{BTC}} – specifically, the claim that the original cryptocurrency is a store of value, the digital equivalent of gold. BTC tumbled along with the broader financial markets Monday and briefly dipp...

Markets

Aug. 05, 2024

First Mover Americas: Bitcoin Crashes to $50K as 'Perfect Storm' Hits Crypto Market

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Cryptos cra...

Markets

Aug. 05, 2024

Crypto Stocks Slump as Bitcoin, Ether Tumble

Bitcoin and ether tumbled Monday as risk-off sentiment permeated global markets. Crypto-related company shares followed suit, with many miners losing more than 10% in pre-market trading while crypto exchange Coinbase dropped 9%. Crypto-relate...

Markets

Aug. 05, 2024

Bitcoin Drops 15% Against Japanese Yen, Outpacing Declines Versus USD, as Yen Carry Trades Unwind

Bitcoin's yen-denominated price on the Tokyo-based bitFlyer exchange dropped nearly 15%, significantly more than its dollar-denominated price on Western exchanges. This was influenced by the yen's sharp appreciation following Japan's 0.25% inte...

Markets

Aug. 05, 2024

Bitcoin Price Crash to $50K Dashes Carry Traders' Hopes

Bitcoin futures trade at par or meagre premium to spot prices. The decline in premium dents the appeal of cash and carry arbitrage strategies. Bitcoin's {{BTC}} latest price crash has narrowed the gap between futures and spot prices, denting ...

Markets

Aug. 05, 2024

Bitcoin Continues to Bleed, Falls Below $50K

Bitcoin {{BTC}} continued its downward slide during the Asian trading hours on Monday, plunging below $50,000. At the time of writing, Bitcoin was trading near $49,200, a level last seen in late February. The sell-off in bitcoin and the overall...

Markets

Aug. 05, 2024

Crypto Futures Witness $840M in Liquidations as Bitcoin Nosedives, Ether Records Biggest Fall Since 2021

Crypto-tracked futures saw over $840 million in liquidations in the past 24 hours amid a market sell-off, with Ether futures recording $304 million in liquidations. Over 200,000 traders were liquidated, with the largest single liquidation order...

Markets

Aug. 05, 2024

Ether Slides 20% as Trading Firm Moves $46M in ETH

ETH's price drops to lowest since January. A wallet supposedly associated with Jump Trading moved 17,576 ETH to centralized exchanges, according to Spot On Chain. Ether's {{ETH}} price cratered as a prominent crypto trading firm moved large a...

Markets

Aug. 05, 2024

Bitcoin Tumbles to $53K, Ether Turns Negative for 2024 as Panic Grips Markets

A broad weekend selloff in crypto accelerated during Sunday evening U.S. hours, sending bitcoin {{BTC}} plunging to levels not seen since February and ether {{ETH}} back to prices not seen since December. Bitcoin is lower by 12% over the past ...

Markets

Aug. 04, 2024

Bitcoin Plunges Under $60K; Crypto Bulls Lose $200M as Dogecoin, Solana Tokens Drop 10%

Bitcoin slumped under $60,000 in early U.S. hours Sunday as a market sell-off continued into its fourth day, with bullish futures bets losing nearly $200 million in the past 24 hours. Ether (ETH) fell under $2,900, retracing all gains from its ...

Markets

Aug. 02, 2024

Coinbase's 'Solid' Earnings May Get Derailed by Low Volume, Fed Headwinds, Analysts Say

Coinbase's second-quarter earnings were 'solid,' Wall Street analysts said, but could continue to slow in the third quarter. The exchange reported total revenue of $1.45 billion but revenue from transaction fees slipped 27%. If that trend cont...

Markets

Aug. 02, 2024

Bitcoin Slumps Below $63K, Altcoins Rekt, as Crypto Succumbs to Risk Off Mood

Bitcoin's {{BTC}} attempt at even a modest early rally during U.S. trading hours Friday was quickly snuffed out, the price dropping 4% in about the past ninety minutes alongside a major slump in equity markets. A weak July U.S. jobs report ear...

Markets

Aug. 02, 2024

CoinDesk 20 Performance Update: Index Gains 1.2% With BCH and ETC Leading

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2137.4, up 1.2% (+26.25) since yesterday's close. Seventeen of 20 asse...

Markets

Aug. 02, 2024

U.S. Added Just 114K Jobs in July, Unemployment Rate Shoots Up to 4.3%

The jobs market softened appreciably in July with the U.S. adding just 114,000 jobs during the month and the unemployment rate rising to 4.3%, according to the Bureau of Labor Statistics. Those 114,000 jobs were well shy of expectations for 175,...

Markets

Aug. 02, 2024

First Mover Americas: BTC Warnings Finger Drop to $55K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin was l...

Markets

Aug. 02, 2024

Kujira Foundation's Tokens Stung by Its Own Leveraged Positions as Bets Backfire

Lack of risk management in financial bets by the Kujira Foundation led to a 55% drop in KUJI token prices within 24 hours. Liquidations of leveraged positions by Kujira's operational wallet resulted in significant losses and further price decli...

Markets

Aug. 02, 2024

Risks Are Skewed to a Weaker Nonfarm Payrolls Print, ING Says

Friday's U.S. nonfarm payrolls report could disappoint expectations, according to ING. A weak report will likely bolster Fed rate cut expectations and potentially support risk assets, including bitcoin. With markets awaiting Friday's U.S. non...

Markets

Aug. 02, 2024

ARK Invest Sold $14.8M of Coinbase Shares Thursday Ahead of the Exchange's Earnings Report

ARK sold a total of 69,069 COIN shares on Thursday, the biggest single-day sale since May 7. Having sold only $2.88 million of COIN in June and $7.93 million in July, Thursday's sales mean ARK has sold more in one day than in the previous two m...

Markets

Aug. 02, 2024

Bitcoin Still Offers Attractive Risk-Reward Ratio, On-Chain Indicator Shows

BTC's reserve risk indicator shows conviction among long-term holders, offering an appealing risk-reward ratio to existing or potential investors. Other indicators based on inactivity of supply also point to strong holding sentiment. While bi...

Markets

Aug. 02, 2024

Bitcoin Traders Eye $55K Amid U.S. Stocks Sell-off, XRP Leads Losses in Major Cryptos

Bitcoin rebounded from lows near $62,500 in Asian morning hours on Friday, amidst a global asset sell-off entering its third day. Despite the rebound, BTC remained under pressure, trading near its 50-day moving average, which is a key technical...

Markets

Aug. 01, 2024

DeFi Protocol Convergence Hacked, CVG Token Plunges 99% on Curve

Decentralized finance protocol Convergence, a Curve-based yield-enhancing protocol, a was exploited Thursday, sending its token's price to near-zero. The attacker created (minted) 58 million of the protocol's CVG token using a vulnerability in t...

Markets

Aug. 01, 2024

Bitcoin Plunges More Than 10% Since Hitting $70K 72 Hours Ago

Bitcoin {{BTC}} continued its sharp pullback after a fast start to the week, with the price retreating to a two-week low of of $62,700. At press time, bitcoin was lower by 5.5% over the past 24 hours, outperforming the broader CoinDesk 20 Index'...

Markets

Aug. 01, 2024

CoinDesk 20 Performance Update: ICP and RNDR Lead Losses as Index Slips 2.2%

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2193.25, down 2.2% (-49.13) since yesterday's close. Three of 20 asset...

Markets

Aug. 01, 2024

First Mover Americas: Crypto Markets Reel on Geopolitical Risk

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Crypto prices...

Markets

Aug. 01, 2024

Bitcoin Indicator That Forewarned Late 2023 Volatility Explosion Is Lighting Up Again

The gap between bitcoin's volatility bands has narrowed to 20%. A similar reading preceded Bitcoin's late 2023 surge. Traders bored of bitcoin {{BTC}}'s range-ridden days might want to return to their computer screens. An indicator called "Bo...

Markets

Aug. 01, 2024

Large Bitcoin Holders Added $5.4B in BTC in July, Data Show

Large bitcoin holders added over 84,000 BTC in July, the highest since October 2014, per IntoTheBlock. The accumulation was characterized by bargain hunting during the early July price dip. In a display of confidence, large bitcoin {{BTC}} ho...

Markets

Jul. 31, 2024

Bitcoin Tumbles Below $65K Post-FOMC as Middle East Tensions Flare

Cryptocurrencies sharply tumbled on Wednesday as rising geopolitical risks captivated investors' attention after the conclusion of the July Federal Reserve meeting. Bitcoin {{BTC}} dropped to $64,500 from around the $66,500 level where it traded...

Markets

Jul. 31, 2024

Fed Holds Policy Steady, Expresses More Caution Than Expected on September Rate Cut

The Fed held policy steady, as expected, but the policy statement was more hawkish than most anticipated. Still ahead is Chair Jerome Powell's press conference at which he may give a better idea of the bank's plans with respect to a September r...

Markets

Jul. 31, 2024

The Anatomy of a Crypto Bull Market

Although crypto history is short, with Bitcoin celebrating its 15th birthday this year, we have already experienced three major cycles: 2011-2013, 2015-2017, and 2019-2021. The short cycle time is not surprising given the crypto market trades 24/...

Markets

Jul. 31, 2024

Bitcoin Price Shrugs Off Latest $2B Mt. Gox Transfer as Distribution Nears Its End

Bitcoin's {{BTC}} price barely budged after Mt. Gox, the defunct Japanese exchange, unloaded another $2 billion of tokens late Tuesday, inching closer to finishing its $9 billion asset distribution that has been a major source of worry for invest...

Markets

Jul. 31, 2024

Popular “Simon’s Cat” to Join Cat Coin Fray With Issuance on Floki Launchpad

Animated cat brand Simon’s Cat is launching a memecoin in partnership with Floki, BNB Chain, and DWF Labs, with a token issuance expected on August 8. A portion of the supply will be airdropped to FLOKI token holders, and another portion will b...

Markets

Jul. 31, 2024

CoinDesk 20 Performance Update: XRP and SOL Outperform as Index Climbs 1.3%

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2274.74, up 1.3% (+29.15) since yesterday's close. Thirteen of 20 asse...

Markets

Jul. 31, 2024

First Mover Americas: Crypto Market Stabilizes After Nursing Losses

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories The crypto ma...

Markets

Jul. 31, 2024

Bitcoin Keeps Weekly Loss as 'Anti-Risk' Yen Strengthens After BOJ Rate Hike

The Bank of Japan's interest-rate increase sent the Japanese yen to its strongest since March against the U.S. dollar. BTC holds on to a weekly loss as rising yen could lead to global financial tightening. Bitcoin {{BTC}} remained on the defe...

Markets

Jul. 31, 2024

XRP Surges 7% Amid Ripple-SEC Settlement Hopes, $600M Token Unlock

XRP draws highest price since March 25. Traders foresee an end to the legal dispute between the SEC and Ripple Labs. Optimism from traders pushed payments-focused XRP token to the front of the market, beating bitcoin {{BTC}}, ether {{ETH}} an...

Markets

Jul. 31, 2024

Bitcoin, Ether ETFs Record Outflows as Trump Speech Euphoria Fades

U.S.-listed BTC and ETH saw sharp outflows, with bitcoin ETFs breaking an inflow trend Traders are looking to the possibility of soft U.S. tech earnings as a signal for upcoming volatility in the BTC market. U.S.-listed spot bitcoin {{BTC}} a...

Markets

Jul. 31, 2024

Nvidia Becoming More Volatile Than Bitcoin and Ether

NVDA's 30-day implied volatility has surpassed bitcoin and ether's gauge. Bitcoin has exhibited a strong positive correlation with NVDA since late 2022. Nasdaq-listed Nvidia (NVDA), hailed by Goldman Sachs as the world's most important stoc...

Markets

Jul. 30, 2024

Key Interest Rate Decisions Coming This Week From Fed, BOJ, BOE

Three major central banks are holding policy meetings this week and the results from each are anticipated to be at least somewhat different. The first decision is set to come Wednesday (Tuesday evening in the U.S.) from the Bank of Japan and ana...

Markets

Jul. 30, 2024

First Mover Americas: BTC Slides as U.S. Government-Linked Selling Pressure Looms

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin has i...

Markets

Jul. 30, 2024

Bitcoin's Future Could be Tied to the Outcome of the U.S. Election: Jefferies

Trump’s promises to the crypto industry may mean the near-term bitcoin price is tied to the outcome of the election, the report said. Jefferies said bitcoin mining profitability following the halving is better than feared at the start of the ye...

Markets

Jul. 30, 2024

Bitcoin Slides to $66K in Wake of Silk Road BTC Movements, Solana’s SOL Leads Majors Losses

Bitcoin's price dipped to $66,000 early Tuesday, erasing last week's gains. The slide came after the U.S. government moved $2 billion worth of bitcoin, raising concerns of potential selling pressure. Solana's SOL led major losses, dropping by ...

Markets

Jul. 29, 2024

Ether ETFs Saw $340M of Negative Outflows in Their First Week

Spot ether {{ETH}} exchange-traded funds saw negative net flows in their first week as massive outflows from the incumbent Grayscale Ethereum Trust (ETHE) overwhelmed interest in the competing products. Similar bitcoin {{BTC}} funds, which debut...

Markets

Jul. 29, 2024

Bitcoin Tumbles Below $67K as U.S. Government Moves $2B of 'Silk Road' Tokens

The U.S. government moved $2 billion worth of seized bitcoin {{BTC}} on Monday, tanking already retreating prices and sparking investor concerns of selling the assets just two days after presidential hopeful Donald Trump's promise to begin stacki...

Markets

Jul. 29, 2024

Bitcoin Pulls Back Sharply After Touching $70K

In what's become a familiar pattern over the past few months, a rally in bitcoin {{BTC}} to a key level was met with a wave of selling as the price during Monday morning U.S. hours quickly plunged more than 3% after pushing above $70,000 for the ...

Markets

Jul. 29, 2024

Polymarket Whales Favor Trump as Election Betting Surges Past $400M

This week in prediction markets: Polymarket whales favor Trump, despite Harris' gains. Mainland China will probably not unban Bitcoin in 2024. Coinbase volume will likely half in Q2. In the week since President Joe Biden stepped down as...

Markets

Jul. 29, 2024

CoinDesk 20 Performance Update: BCH's 21% Surge Leads Index Gain

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2362.16, up 3.0% (+69.78) since last Friday's close. Thirteen of 20 as...

Markets

Jul. 29, 2024

First Mover Americas: Bitcoin Rises to Nearly $70K After Trump's BTC 2024 Speech

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin {{BTC...

Markets

Jul. 29, 2024

The Clock Has Ticked on Bitcoin's Post Halving Surge, 100 Days After the Latest Quadrennial Halving

July 29 marks the 100th day since the Bitcoin blockchain cut per block mining rewards to 3.125 BTC from 6.25 BTC. Data from past halvings show the bullish impact of the programmed code takes effect after 100 days. Moving past Republican presi...

Markets

Jul. 29, 2024

Bitcoin Nears $70K on Back of Trump's Speech, Bitcoin Cash and Base Memecoins Lead Crypto Market Gains

Bitcoin Cash is up double digits as the business week in Asia opens, despite expectations from analysts it would be the loser in the Mt. Gox trade. The token outperformed the broader CoinDesk 20 (CD20) index, which is up 3.6% Bitcoin neared t...

Markets

Jul. 29, 2024

COMP Down 6.7% after Supposed 'Governance Attack' on Compound DAO

A group called the 'Golden Boys' has pushed through a proposal, after three prior attempts, to direct $24 million in COMP token to a yield-bearing protocol called goldCOMP which would give passive income to COMP token holders. Wintermute and ot...

Markets

Jul. 27, 2024

Bitcoin Prices See Wild Trading as Trump Plans to Establish BTC as U.S. Strategic Asset

Bitcoin {{BTC}} price volatility boomed as former U.S. President Donald Trump's speech at Bitcoin 2024 in Nashville. Trump unveiled plans to make a "strategic national bitcoin stockpile" if elected, which was in line with the market expectat...

Markets

Jul. 26, 2024

Bitcoin to Account for 7% of Global Wealth, Surge in Price to $13M in 21 Years: Michael Saylor

It will surprise approximately no one that Michael Saylor remains wildly bullish on Bitcoin {{BTC}} and the MicroStrategy executive chairman didn't disappoint on Friday, saying he sees the world's largest crypto's price rising to $13 million by 2...

Markets

Jul. 26, 2024

CoinDesk 20 Performance Update: RNDR's 12% Gain Leads as Index Rebounds

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2263.97, up 4.4% (+95.43) since yesterday's close. Nineteen of 20 asse...

Markets

Jul. 26, 2024

First Mover Americas: Bitcoin Regains $67,000, Adds Nearly 5% in 24 Hours

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin rose ...

Markets

Jul. 26, 2024

Elon Musk’s X Quietly Removes Bitcoin, MAGA Emojis From Hashtags

Bitcoin and crypto hashtags on X no longer display emojis automatically. X did not publicly announce the removal, and the reason behind the apparent change is unclear. Automatically generated emojis no longer accompany bitcoin and crypto hash...

Markets

Jul. 26, 2024

Bitcoin Analysts Express Optimism as Price Nears Resistance Level That Stymied It in May

BTC is closing on a trendline hurdle that capped the upside on Monday and in May. Friday's U.S. core PCE and Trump's impending Bitcoin conference speech could power a stronger rally, BRN said. Blockchain fundamentals are biased bullish, Matrix...

Markets

Jul. 26, 2024

BTC Outperforms Broader Crypto Market, Ether Price Drop Mirrors Bitcoin ETF Launch

BTC outperformed the wider crypto market as measured by the CoinDesk 20 Index during the Friday Asia trading session. One analyst said the performance of ether exchange-traded funds mirrors that of the bitcoin ETFs after their launch in January...

Markets

Jul. 25, 2024

VanEck Sees Bitcoin Hitting $2.9M by 2050 – but a Lot Has to Happen First

By 2050, bitcoin may settle 10% of international trade and 5% of local trade gain with central banks' holding it as a reserve asset, asset manager VanEck said in a report. Bitcoin layer-2 networks will play a key role to overcome scaling issues...

Markets

Jul. 25, 2024

Bitcoin Miners Have Considerable Upside From Their Power Portfolios: Bernstein

Bernstein said bitcoin miners have upside from the power portfolios they control. Miners that focus on an active power strategy and efficiency are more likely to see a valuation rerating, the report said. Large miners remain focused on bitcoin...

Markets

Jul. 25, 2024

CoinDesk 20 Performance Update: Broad-Based Decline Hits All 20 Assets, Sending Index Lower by 4.4%

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2179.06, down 4.4% (-99.18) since yesterday's close. None of the 20 as...

Markets

Jul. 25, 2024

First Mover Americas: Bitcoin Slides After Wednesday's Tech Rout

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin {{BTC...

Markets

Jul. 25, 2024

Bitcoin, Stocks Bleed as China Rate Cuts Signals Panic, Treasury Yield Curve Steepens

China's surprise rate cut signals panic, adds to risk aversion in the market. The steepening of the U.S. Treasury yield curve is the biggest risk, one observer said. Risk assets slid Thursday as China's second interest-rate cut in a week spar...

Markets

Jul. 25, 2024

Stablecoins Signal Crypto Ecosystem Buoyancy as Market Cap Jumps to $164B

Expansion of the stablecoin market is bullish for the broader crypto ecosystem. BTC and ETH slid amid broad-based risk aversion on Wall Street. Stablecoins, which serve as a funding source for many crypto trading strategies, are experiencing ...

Markets

Jul. 25, 2024

Bitcoin Plunges To $64K as U.S. Tech Rout Hits Crypto, Leads to $250M Long Bets Being Liquidated

Bitcoin experienced a sharp decline of over 3% at the start of Asian trading hours amid a broader stock market downturn. Over $250 million in bullish bets were wiped out, marking the most substantial liquidation since early July. Bitcoin {{BT...

Markets

Jul. 25, 2024

Ether Down Over 7.5% as ETHE Outflows Ramp Up

Ether is down over $7.5% and is trading above $3100. Ether's decline comes as ETHE outflows continue and tech giant Nvidia trades in the red. Ether {{ETH}} is down over 7.5% in the first hours of East Asia's business day, trading hands above ...

Markets

Jul. 25, 2024

CME's Ether Futures Record Highest Ever Open Interest of 383K ETH After ETF Debut

CME ether futures see record open interest as spot ETFs start trading in the U.S. Volumes surge as ETFs open door for both directional and non-directional traders. Activity in Chicago Mercantile Exchange's (CME) ether {{ETH}} futures reached ...

Markets

Jul. 24, 2024

Bitcoin Holds Up as Tech Stocks Plunge, Ether Sinks a Day After ETF Launch

The Nasdaq and S&P 500 on Wednesday each suffered their worst declines since late 2022, but the price of bitcoin {{BTC}} mostly held up, remaining around the $66,000 level where it was a day earlier. The broad-market crypto benchmark CoinDe...

Markets

Jul. 24, 2024

CoinDesk 20 Performance Update: XRP and NEAR Help Push Index Upward

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2303.85, up 1.4% (+31.42) since yesterday's close. Sixteen of 20 asset...

Markets

Jul. 24, 2024

Crypto Exchange D8X to Bring Tool for Trading Polymarket Contracts With Leverage

Decentralized exchange D8X is working on building a perps market that will allow users to trade Polymarket contracts with leverage. D8X estimates that this will launch on mainnet in August. D8X, a decentralized exchange (DEX) for crypto perpe...

Markets

Jul. 24, 2024

Riot Platforms’ Acquisition of Block Mining Makes Sense, JPMorgan Says

Riot’s acquisition of rival bitcoin miner Block Mining makes sense, the report said. JPMorgan noted that Riot will have the second-largest capacity of the U.S.-listed bitcoin miners. The bank has an overweight rating on Riot stock with a $12 p...

Markets

Jul. 24, 2024

Cross-Chain Service DeBridge to Issue Governance Token, Completes Activity Snapshot

Cross-chain transfer service deBridge is set to issue a governance token, DBR, on the Solana blockchain. The token will reward users based on their past activity and fees paid. DBR token holders will be able to vote on future strategies and imp...

Markets

Jul. 24, 2024

AgriDex Settles First Agricultural Trade on Solana Blockchain

AgriDex has settled its first agricultural trade on the Solana blockchain. It facilitated the shipment of two hundred bottles of extra virgin olive oil and multiple cases of wine from a farm and vineyards in South Africa to London. AgriDex ,...

Markets

Jul. 24, 2024

First Mover Americas: Bitcoin Regains $66,000, but Mt. Gox Selling Pressure Persists

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin regai...

Markets

Jul. 24, 2024

Ether's BTC-Denominated Price Flirts With 9-Year-Long Trendline Support: Technical Analysis

The area around the bullish trendline served as an accumulation zone in 2019-20. A widely-tracked momentum indicator suggests downtrend exhaustion. Ether's {{ETH}} bitcoin {{BTC}}-denominated market price, the ETH/BTC ratio, is flirting with ...

Markets

Jul. 24, 2024

Bitcoin ETFs Break Inflow Streak as Traders Look to Trump’s Nashville Appearance for Volatility

Bitcoin ETFs experienced a net outflow of $77 million, snapping a 12-day streak of inflows. Traders say price action will remain subdued until U.S. presidential candidates comment on cryptocurrency regulation. Bitcoin {{BTC}} exchange-traded ...

Markets

Jul. 24, 2024

Iris Energy Is Positioned to Become One of the Biggest Listed Bitcoin Miners: Canaccord

Canaccord raised its Iris Energy share-price target to $15 from $12. The bitcoin miner has ample power supplies and high-performance computing options, the report said. Iris can monetize the infrastructure it is building for bitcoin mining, cl...

Markets

Jul. 23, 2024

Ether ETF Volumes Top $1B on Day One

Investors traded over $1 billion worth of shares of the freshly launched ether exchange-traded fund (ETF) issuers on the first day of their availability, data from Bloomberg shows. Trading volume simply represents the dollar amount of shares exc...

Markets

Jul. 23, 2024

Bitcoin Slips to Near $65K as Mt. Gox Creditors Receive Assets on Kraken

Cryptocurrencies slid Tuesday as Kraken started to distribute assets to creditors of defunct exchange Mt. Gox, with the potential sell pressure weighing on the market. Bitcoin {{BTC}} tumbled to $65,500, down nearly 4% over the past 24 hours, wh...

Markets

Jul. 23, 2024

Spot Ether ETFs See $600M in Volume In First Half Day of Trading

The eight recently launched spot ethereum {{ETH}} exchange-traded funds (ETFs) posted nearly $600 million worth of volume in the first half of their first day of availability, according to data from Bloomberg. The race is led by Grayscale’s Ethe...

Markets

Jul. 23, 2024

CoinDesk 20 Performance Update: Index Slips 2.2% as Spot Ether ETFs Begin Trading

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2299.72, down 2.2% (-51.54) since yesterday's close. Four of 20 assets...

Markets

Jul. 23, 2024

Ether Rises Above $3.5K Ahead of ETH ETF Trading, But Inflow Concerns Remain

Ether (ETH) price rose above $3,500 ahead of the opening of trade in the U.S.-based spot ETFs. Concerns exist about Grayscale's $9 billion ETH Trust potentially exerting downward pressure on the market through selling, which could counteract th...

Markets

Jul. 23, 2024

First Mover Americas: Ether Little Changed After Spot ETF Approval

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Ether was lit...

Markets

Jul. 23, 2024

Coinbase Upgraded to Buy From Neutral on Improving Regulatory Risk: Citi

Citi upgraded Coinbase to buy from neutral and raised its price target to $345 from $260. The crypto exchange could benefit from an improving regulatory regime in the U.S., the report said. Coinbase could also profit from a U.S. crypto catchup...

Markets

Jul. 23, 2024

Ethereum Experienced Its Highest Inflationary Period in the Last Quarter: Fidelity

Fidelity noted that the Ethereum network experienced its highest period of inflation in the second quarter. Layer 2 transactions increased 20% since the Dencun upgrade in March, the report said. Ethereum’s base layer fundamentals declined in t...

Markets

Jul. 23, 2024

Kamala Harris Memecoin Sets New Highs as Her Nominee Odds Surge to 90%

Harris has now been endorsed by a majority of Democratic delegates. The current Vice-President needed the majority to become the Democrat frontrunner. Market odds and memecoins related to U.S. Vice President Kamala Harris surged as the latest...

Markets

Jul. 23, 2024

Bitcoin Nears $66K as Mt. Gox Moves $130M to Bitstamp

Bitcoin {{BTC}} traded near $66,000 as defunct exchange Mt. Gox started to move its latest tranche of the asset to crypto exchange Bitstamp, which has previously led to sell-offs in the broader crypto market. Arkham data shows Mt. Gox transf...

Markets

Jul. 23, 2024

BlackRock's Spot Bitcoin ETF Draws $526M in Net Inflows

BlackRock's IBIT registered the highest single-day inflow since March. BTC failed to break out of a key price resistance level. BlackRock's iShares Bitcoin Trust (IBIT), a Nasdaq-listed exchange-traded fund (ETF) closely tracking the cryptocu...

Markets

Jul. 23, 2024

U.S. Government Moves $4M Bitcoin to Coinbase, Arkham Data Show

An address labeled "U.S. Government: Ryan Farace Seized Funds" moved BTC worth nearly $4 million to Coinbase 11 hours ago, according to Arkham Intelligence. The potential selling pressure represents less than 1% of BTC's 24-hour trading volume....

Markets

Jul. 22, 2024

Ethereum ETFs Could See Underwhelming Demand, Two Research Firms Predict

Initial demand for the spot ether ETFs could be less than anticipated, Wintermute and Kaiko predict. Wintermute sees roughly 62% less inflows over the next year than bitcoin ETFs have received in six months. A couple of prominent crypto firms...

Markets

Jul. 22, 2024

Taking Profits on Bitcoin Ahead of Trump Conference Appearance Could be 'Expensive Exercise': Analyst

Traders should wait until after former President Donald Trump's speech at the Bitcoin Conference on Saturday to cash out on their bitcoin profits. Some expect Trump to announce plans to make bitcoin a strategic reserve asset if he gets elected ...

Markets

Jul. 22, 2024

Polymarket Trading Explodes as 2024 Election Enters Uncharted Territory

This week in prediction markets: It's market mania as President Joe Biden declines to run for a second term. One market went to the cats, as bettors debate the first billion-dollar cat-themed meme coin. Everyone thought CrowdStrike's follies ...

Markets

Jul. 22, 2024

CoinDesk 20 Performance Update: AVAX and SOL Surge Lead Weekend Advance

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2347.81, up 2.0% (+47.04) since last Friday's close. Ten of 20 assets ...

Markets

Jul. 22, 2024

Bitcoin Miner Bitdeer Technologies Could be a Potential Takeover Target: Benchmark

Benchmark said Bitdeer could be a potential takeover target The broker raised its price target for the bitcoin miner to $16 from $13. Core Scientific’s deal with AI hyperscaler CoreWeave has helped drive a re-rating of the sector, the report s...

Markets

Jul. 22, 2024

First Mover Americas: Bitcoin Settles Above $67K After Biden Drops Out

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin settl...

Markets

Jul. 22, 2024

Solana ETF Hopes, Rising Fundamentals Are Driving SOL Prices Higher, Traders Say

Increased transactional activity on Solana-based applications and a surge in the total value locked (TVL) on the network have contributed to Solana's recent outperformance. Expectations of a possible exchange-traded fund (ETF) product and easin...

Markets

Jul. 22, 2024

HNT Token Beats Bitcoin With 40% Surge as Helium's Mobile Subscriber Count Tops 100K

HNT was beaten only by dogwifhat over the past seven days. Helium Network is a strong example of a real-world use for blockchain technology, according to one observer. Helium Network's HNT token has chalked out a market-beating rally amid the...

Markets

Jul. 22, 2024

Popcat Crosses $1B, Mog Rallies as Solana, Ethereum Beta Bets Gain Favor

Meme coins popcat (POPCAT) and mog (MOG) surged over the weekend, driven by the cat-themed narrative and their use as beta bets by some traders. POPCAT briefly topped $1 billion capitalization to emerge as the winner in a highly traded Polymark...

Markets

Jul. 22, 2024

Any Near-Term Rebound in Crypto Market Likely to be Temporary: JPMorgan

Crypto market rebound expected to be temporary, the bank said. JPMorgan said the bitcoin price was still too high relative to its production cost and versus gold. Bitcoin and gold are both expected to benefit from the higher likelihood of a Tr...

Markets

Jul. 22, 2024

Bitcoin Briefly Tops $68K as Biden Dropout Riles Up Crypto Bulls

Bitcoin briefly surged above $68,000, driven by positive U.S. election predictions, before settling around $67,500 during early Asian trading hours on Monday. The broader crypto market, as represented by the CoinDesk 20 index, saw a 1.25% incre...

Markets

Jul. 22, 2024

Polymarket Bettors Put Nearly $80M on Biden's Democratic Chances

Nearly $80 million was wagered on Polymarket in various contracts about Joe Biden's political future. $51.5 million was at stake on a question regarding Biden's leadership of the Democrats, while $27.5 million was bet on variations of the quest...

Markets

Jul. 21, 2024

Kamala Harris Meme Coin Soars to All-Time High After Joe Biden Drops Out

Crypto traders are once again betting on the very serious business of presidential politics via very silly meme coins, including one for Vice President Kamala Harris that more than doubled in price Sunday. KAMA hit an all-time high of 2.4 cent...

Markets

Jul. 19, 2024

Bitcoin Tops $66K as Cryptos Rally Amid Global IT Outage; Solana's SOL Leads Altcoins

Bitcoin hit a one-month high at $66,700, up 4% over the past 24 hours. Solana rose 8%, topping $170 for the first time since early June. Crypto observers highlight the resiliency of decentralized blockchains as a malfunctioning software update...

Markets

Jul. 19, 2024

CoinDesk 20 Performance Update: SOL Jumps 4.1% Amid Broad Market Uptick

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2207.0, up 1.0% (+21.06) since yesterday's close. Twelve of 20 assets ...

Markets

Jul. 19, 2024

First Mover Americas: Bitcoin Trades at $64K as Biden Withdrawal Likelihood Increases

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin trade...

Markets

Jul. 19, 2024

CrowdStrike Outage Could Be Fixed Within the Day, Unlikely Caused by a Hack, Polymarket Bettors Say

Bettors are optimistic that the CrowdStrike outage will be resolved by Friday. It's also unlikely, according to a Polymarket contract, that the outage was caused by a hack A major global IT outage caused by an update from security software pr...

Markets

Jul. 19, 2024

Ripple Settlement Hopes Pushed XRP Volumes Above Bitcoin on S. Korean Exchanges This Week

Trading volume in XRP on South Korean crypto exchanges surpassed that of bitcoin, topping 40% on UpBit and 35% on Bithumb and Korbit, indicating a high demand for XRP in the country. Traders warn of a correction in the coming days, however, whi...

Markets

Jul. 19, 2024

CrowdStrike, Windows BSoD Meme Tokens Populate Solana and Ethereum Amid Global Internet Outage

Dozens of new crypto tokens themed after internet services company CrowdStrike and the popular Microsoft “Blue Screen of Death” (BSoD) error were issued on Ethereum and Solana blockchains amid a reported global internet outage that has impacted s...

Markets

Jul. 19, 2024

Bitcoin, SHIB Trade at 30% Haircut on WazirX as Exploiter Converts Stolen Loot to Ether

The North Korea-linked exploiter who targeted WazirX has converted the majority of the $230 million stolen user assets into ether, totaling $200 million. The exploit significantly impacted WazirX's liquidity and listed token prices, with the ex...

Markets

Jul. 18, 2024

Bitcoin Slumps Towards $63K as Speculation About Biden Dropout Intensifies

Crypto markets were again in the red on Wednesday alongside a continued slump in U.S. equity prices and swirling speculation about the presidential election race. BTC plunged to $63,500 from $65,000 in just two hours during mid-morning trading h...

Markets

Jul. 18, 2024

CoinDesk 20 Performance Update: SOL and ETH Lead Advancers as Index Stays Flat

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2237.59, down 0.0% (-0.45) since yesterday's close. Six of 20 assets a...

Markets

Jul. 18, 2024

First Mover Americas: Bitcoin Trades Below $65K Following Wednesday's Drop

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin {{BTC...

Markets

Jul. 18, 2024

Indian Crypto Exchange Hack Sends SHIB, WRX Tumbling as Bitcoin, Tether Trade at Massive Discount

WazirX's native token WRX slumped 15% in dollar terms. SHIB has lost 6% since the attacker drained $100 million worth of the token from the Indian exchange. Most coins, including market leader bitcoin and tether, are trading at a significant d...

Markets

Jul. 18, 2024

Profit-Making Crypto Address Makes $16M Investment in BTC

A profitable crypto address has made a fresh investment in BTC. The address has made $30 million in trading profits in the past 12 months. Traders who are skeptical about bitcoin's {{BTC}} recent price rebound may find comfort in the fact tha...

Markets

Jul. 17, 2024

Bitcoin Dips Below $64K as U.S. Equity Selloff Stalls Crypto Rebound

Cryptocurrencies sharply reversed early gains during the U.S. trading session on Wednesday with bitcoin {{BTC}} dipping below $64,000 as a broad-market equity sell-off weighed on the digital asset market. The leading cryptocurrency by market cap...

Markets

Jul. 17, 2024

Core Scientific Upgraded to Buy From Neutral to Reflect HPC Expansion: B Riley

B Riley raised Core Scientific to buy from neutral, and lifted its price target to $13 from $0.50. Core is a future leader in high-performance computing hosting, the report said. The bitcoin miner has started on the path to achieving economies...

Markets

Jul. 17, 2024

Grayscale Launches Artificial Intelligence-Focused Crypto Fund; AI Tokens Gain

Grayscale, the investment firm behind one of the largest spot bitcoin ETFs (GBTC), has introduced Wednesday a new digital asset fund that invests in artificial intelligence-focused (AI) tokens. The Grayscale Decentralized AI Fund is accessible...

Markets

Jul. 17, 2024

CoinDesk 20 Performance Update: Mixed Results with XRP and ICP Leading

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2256.91, up 0.3% (+7.2) since yesterday's close. Ten of 20 assets are ...

Markets

Jul. 17, 2024

First Mover Americas: Bitcoin Bulls Eye $70K After Return to $66K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin trade...

Markets

Jul. 17, 2024

Rotation Out of Mega-Cap U.S. Stocks Could Provide Tailwind for Cryptocurrencies, Marex Solutions Says

Wall Street investors are piling into small-cap stocks and exiting mega-caps on signs of cooling inflation and strengthening Fed rate-cut bets. The sector rotation could potentially lead to more capital deployment in the crypto market, accordin...

Markets

Jul. 17, 2024

XRP Surges 12% on the Back of Triangle Pattern, Rising Futures Bets Favor Bullish Price Moves Ahead

XRP surged 12% to extend weekly gains to over 40%, beating other major tokens. A bullish triangle pattern on XRP's long-term price charts and a substantial increase in open interest suggest more upside in the coming weeks. XRP surged 12% in t...

Markets

Jul. 17, 2024

Deribit's New Bitcoin, Ether Options Tied to U.S. Elections Get Thumbs Up From Crypto Traders

Deribit to list BTC, ETH options expiring four days after the U.S. elections on Nov. 4. Traders said these options will help define risk and protect capital from expected volatility in the lead-up to and following the binary event. Leading cr...

Markets

Jul. 17, 2024

Ether Spot ETF Inflows Will Push ETH to Beyond $5K: Bitwise

Launch of spot ether ETFs in the U.S. will push the price of the crypto to all-time highs above $5,000, the report said. Bitwise said money flowing into new ether spot ETFs will have a larger impact than it did for bitcoin. Ether spot ETFs are...

Markets

Jul. 17, 2024

Bitcoin Bulls Eye $70K Amid Donald Trump's Rising Chances of Returning as President

Traders anticipate bitcoin rallying to $70,000, buoyed by a more optimistic macro environment and the prospect of a crypto-friendly U.S. administration under Donald Trump. Reduced selling pressure from key wallets and a more positive political ...

Markets

Jul. 17, 2024

Bitcoin ETF Inflows Hit Six-Week High of $422.5M

The 11 spot BTC ETFs listed in the U.S. recorded a cumulative inflow of $422.5 million on Tuesday. The funds have collected over $1 billion in the past three trading days alone. BTC's price has recovered 23% since hitting lows near $53,500 on ...

Markets

Jul. 16, 2024

Bitcoin Hits $65K Shaking Off Mt. Gox Payout Worries; XRP Leads Crypto Rally

The crypto rebound from last week's low showed no signs of stopping with bitcoin {{BTC}} hitting its highest price in four weeks on Tuesday. BTC surged above the $65,000 level for the first time since late June, shrugging off a dip below $63,000...

Markets

Jul. 16, 2024

Bitcoin ETF Traders Bought the Dip and Now Are Buying the Rebound as Inflows Topped $300M Monday

Spot bitcoin ETFs now have attracted over $16 billion of inflows since launching in January. The ETFs took in $300 million alone on Monday, continuing a seven-day inflow streak. Lifetime net inflows into the U.S.-based spot bitcoin exchange-t...

Markets

Jul. 16, 2024

Trump Odds on Polymarket Hit Another All-Time High After Vance VP Pick

Donald Trump's odds of retaking the White House in November hit another all-time high after he picked Sen. J.D. Vance (R-Ohio) as his running mate, traders on the crypto-based prediction market platform Polymarket are signaling. "Yes" shares for...

Markets

Jul. 16, 2024

CoinDesk 20 Performance Update: NEAR and XRP Lead as Index Posts Modest Gain

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2195.47, up 0.4% (+8.23) since yesterday's close. Seven of 20 assets a...

Markets

Jul. 16, 2024

U.S.-Listed Bitcoin Miners' Share of Global Hashrate Reached Record in July: JPMorgan

Bitcoin miners rallied strongly in the first two weeks of the month. JPMorgan notes that U.S.-listed bitcoin miners’ share of the global hashrate hit a record 26.6%. Every miner except Stronghold Digital outperformed bitcoin over this period, ...

Markets

Jul. 16, 2024

First Mover Americas: Bitcoin Retreats as Mt. Gox Moves $3B of BTC

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin dippe...

Markets

Jul. 16, 2024

Crypto Traders Search for Clues in Solana's Triangle Pattern

SOL's daily chart shows a triangular consolidation pattern. A breakout would signal a continuation of the broader uptrend, according to Fairlead Strategies. Crypto traders looking for clues on the next possible move in programmable blockchain...

Markets

Jul. 16, 2024

Ether Spot ETFs Could See Up to $5.4B of Net Inflows in First 6 Months: Citi

Ether spot ETFs net inflows are likely to be 30%-35% of bitcoin equivalents, the report said. Citi said this gives a range of $4.7 billion-$5.4 billion of potential net inflows into ether ETFs over six months. Flows could underwhelm due to a l...

Markets

Jul. 16, 2024

Bitcoin Dips Below $63K As Mt. Gox Moves $2.8B BTC to Internal Wallets

BTC dips 3% on renewed movement of coins by defunct crypto exchange Mt. Gox. One observer said the movement of coins was likely a part of the exchange's creditor reimbursement plan. Bitcoin {{BTC}} faced renewed selling pressure on Tuesday af...

Markets

Jul. 16, 2024

Ether Hedging Activity Picks Up as U.S. ETF Debut Nears

Relative richness of ether's short-term options-induced implied volatility suggests a pick up in hedging activity. The U.S.-listed ether ETFs are expected to begin trading next week. The impending debut of U.S.-based exchange-traded funds (ET...

Markets

Jul. 15, 2024

SEC Tells ETH ETF Issuers Fund Can Start Trading Next Tuesday: Sources

ETH exchange traded-funds issuers were told by the SEC that funds can start trading July 23, according to sources. The SEC had no further comments on the recently submitted S-1s and the final versions needs to be submitted by Wednesday. ETH ou...

Markets

Jul. 15, 2024

CoinDesk 20 Performance Update: Broad-Based Gains Push Index Up 8.2%

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2154.67, up 8.2% (+163.12) since last Friday's close. All 20 assets ar...

Markets

Jul. 15, 2024

First Mover Americas: Bitcoin Rises Above $62.5K Following Trump Shooting

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin rose ...

Markets

Jul. 15, 2024

Spain National Fan Token Slides 20% After UEFA Euro 2024 Win

The Spain National Fan token (SNFT) has dropped 20% in the past 24 hours. The losses likely represent "sell-the-fact" losses following Spain's victory in UEFA championship. Spain is reveling in the UEFA 2024 soccer championship victory, but...

Markets

Jul. 15, 2024

Bitcoin Retakes 200-Day Average as 'Trump Trades' Back In Vogue After Weekend Attack

BTC tops $62,000 as Trump shooting boosts odds of election victory. Yuan and Mexican peso trade weak, while Treasury futures point to higher yields. Assets linked to U.S. Republican candidate Donald Trump's probability of winning the Nov. 4 e...

Markets

Jul. 14, 2024

Trump's Odds of Victory Hit All-Time High on Polymarket After Shooting

Former U.S. president Donald Trump's probability of retaking the White House jumped to an all-time high Saturday after he was injured from a shooting at a rally in Pennsylvania, according to traders on Polymarket. A Secret Service spokesman said...

Markets

Jul. 12, 2024

Fed Might Focus on Weakening Labor Market Rather Than Inflation as It Mulls Rate Cuts: Economists

Thursday's CPI report showed further signs of cooling prices although inflation is far from the Fed's 2% goal. However, the Fed might be more focused on the labor market, which could become a threat if it slows down significantly more. Odds fo...

Markets

Jul. 12, 2024

CoinDesk 20 Performance Update: XRP Gains Amid Overall Index Decline

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 1956.14, down 0.6% (-11.08) since yesterday's close. Two of 20 assets ...

Markets

Jul. 12, 2024

XRP is the Sole Major in Green as Bitcoin Bulls Remain Sidelined

Bitcoin (BTC) fell 2.3% in the past 24 hours to $57,000 after briefly surpassing $59,000 on Thursday. XRP tokens were the only major gainers, rising 5% in the past 24 hours amid favorable developments. One trader said bulls were likely "on the ...

Markets

Jul. 12, 2024

First Mover Americas: BTC Retreats From $60K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin trade...

Markets

Jul. 12, 2024

Iris Energy Has Committed Most of Childress Site to Expansion of Bitcoin Mining: Bernstein

Iris Energy shares slumped 14% after a short seller said the company's Childress site was unsuitable for hosting artificial intelligence or high-performance computing. Bernstein notes that the company never said it intended to retrofit the bitc...

Markets

Jul. 12, 2024

Bitcoin Bulls Fail Again, But There Is Still Hope

BTC bulls failed to penetrate critical resistance after positive U.S. inflation data, leaving the doors open for more losses. Downside may be limited as recent supply overhang from Germany's Saxony state has exhausted. Fed rate cut bets, FTX r...

Markets

Jul. 11, 2024

Biden's Odds of Dropping Out Jump Again on Polymarket Ahead of President's Press Conference

Joe Biden's probability of quitting the U.S. presidential race climbed about six percentage points on Thursday, hitting 65%, according to traders on crypto-based prediction market Polymarket. The odds increased ahead of Biden's first press con...

Markets

Jul. 11, 2024

Germany Almost Done Selling Bitcoin, Holding Less Than 5K Tokens After Latest Moves

The German state of Saxony is quickly running out of bitcoin {{BTC}} to sell after moving another batch of its confiscated assets to crypto exchanges and brokers on Thursday. Bitcoin wallets linked to the German authorities transferred a total o...

Markets

Jul. 11, 2024

Crypto Bulls Frustrated as Bitcoin and Stocks Recouple – to the Downside

While bitcoin {{BTC}} has struggled mightily over the past months, with its price falling more than 20% since hitting a record high in mid-March, U.S. stocks – as represented by the Nasdaq Composite and the S&P 500 – have seemingly been on a ...

Markets

Jul. 11, 2024

CoinDesk 20 Performance Update: NEAR and APT Lead as Index Rises 0.2%

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 closed at 1965.07, up 0.2% (+3.29). Fourteen of 20 assets closed higher. Leaders: NEAR (+2.8%...

Markets

Jul. 11, 2024

MicroStrategy to Split Stock 10:1 After Share Price Triples in a Year on Bitcoin Rally

Nasdaq-listed software firm MicroStrategy (MSTR), the largest corporate holder of bitcoin {{BTC}} , announced a 10-for-1 stock split on Thursday. The split will be effected on Aug. 1 and shares will be distributed after the Aug. 7 market close...

Markets

Jul. 11, 2024

U.S. Inflation Was Negative in June; Bitcoin Jumps Above $59K

June CPI came in softer than expected. The odds of imminent Fed rate cuts rose sharply following the news. Under major pressure of late, the price of bitcoin rose as well. Inflation continued to retreat in June, according to the government's...

Markets

Jul. 11, 2024

Crypto Market Rebound Expected in August, Liquidations to Finish By July-End: JPMorgan

The crypto market is expected to rebound from August onward, the report said. The bank reduced its year-to-date net flow estimate to $8 billion from $12 billion. Bitcoin reserves across exchanges have fallen in the last month due to liquidatio...

Markets

Jul. 11, 2024

First Mover Americas: Bitcoin Holds $58K Ahead of U.S Inflation Report

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin {{BTC...

Markets

Jul. 11, 2024

Crypto Speculation Index Slide Suggests Bitcoin Bull Market Reset

Key gauge shows that the speculative forth prevalent during the first quarter has dissipated. Speculative washouts mean a healthier market and a potential for a renewed uptick in bitcoin. Bull markets are observed to stall during periods of e...

Markets

Jul. 11, 2024

ARG Token Doubles as Argentina Enters Copa America Final

Argentina's victory over Canada in the Copa America semi-finals brings cheer to Argentina fan token holders. The token has seen over $20 million in trading volume in the past 24 hours. Defending champions Argentina advanced to the finals of...

Markets

Jul. 11, 2024

Staked Ether Close to All-Time High as ETF Approval Nears

While the supply of ether is rising, the amount that is staked is close to all-time highs, CryptoQuant data shows. Polymarket bettors are assigning a 90% chance to an ether exchange-traded fund being approved in the U.S. by July 26, but there a...

Markets

Jul. 11, 2024

Bitcoin Waits for Guidance From U.S. Inflation Data, Bond Market

Thursday's U.S. CPI updated is expected to offer evidence of continued progress on the inflation front, boosting the Fed rate cut probability. Increased prospects of Fed rate cuts could bode well for BTC's recovery. BTC bulls should watch out ...

Markets

Jul. 11, 2024

Long Bitcoin and Short Bitcoin Cash to Benefit From Mt. Gox Repayments: Trader

Presto says a market-neutral strategy to profit from the Mt. Gox repayments by betting on bitcoin strength and against bitcoin cash. The strategy stems from the supply/demand dynamics for BTC and BCH due to the distribution of assets worth bill...

Markets

Jul. 10, 2024

Bitcoin Price Decline on Germany, Mt. Gox and Miner Sell Pressure May Be Overblown: NYDIG

Bitcoin {{BTC}} has plunged 15% over the past month, with many market observers placing the blame on selling pressure from bitcoin mining operators , Mt. Gox refunds and, most recently, the German state of Saxony . The case for the above c...

Markets

Jul. 10, 2024

Bitcoin at Pivotal Point as Bear Market Beckons: Onchain Data

The Bitcoin profit and loss index is hovering around its 365-day moving average; previous crossovers to the downside have led to major market corrections. Tether's market cap growth, often considered a key driver of bull markets, has stalled. ...

Markets

Jul. 10, 2024

CoinDesk 20 Performance Update: RNDR and NEAR Lead Gains as Index Inches Higher

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 1975.16, up 0.7% (+13.38) since yesterday's close. Sixteen of 20 asset...

Markets

Jul. 10, 2024

GSR and Wealth Manager St. Gotthard Execute Options Trade Tied to CoinDesk 20 Index

GSR announced Wednesday the completion of a first options transaction tied to the CD20 index. The CD20 index was introduced earlier this year and is a broad-based market index for crypto, similar to the Dow Jones average for U.S. equities. Cr...

Markets

Jul. 10, 2024

First Mover Americas: Bitcoin Climbs Back Above $59K, but Rally Could Be Short-Lived

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin ralli...

Markets

Jul. 10, 2024

Bitcoin Steady at $58.5K as German State Saxony Moves $300M in BTC

The wallet associated with the German Federal Criminal Police Office (BKA) moved 5,103.5 BTC during the European hours, according to Arkham Intelligence. BTC held largely steady amid Germany's continued divestment of coins. Bitcoin {{BTC}} ho...

Markets

Jul. 10, 2024

Bitcoin Miners Are Attractive Partners to Build Artificial Intelligence Data Centers: Bernstein

Bitcoin miners have secured ample power supplies and operating capabilities and can help companies build AI data centers, the report said. Bernstein initiated coverage of miners Iris Energy and Core Scientific with outperform ratings. The brok...

Markets

Jul. 10, 2024

Celestia's TIA Token Surges 25%, Leaves Crypto Traders in Disbelief

TIA surges 25% in one week, hinting at a positive turnaround following a five-month downtrend. Traders continue to short TIA perpetual futures, negative funding rates suggest. TIA's rally may have legs, according to one observer. Data availa...

Markets

Jul. 09, 2024

Bitcoin Rebounds Toward $60K, but Choppiness Likely to Persist: Analysts

Cryptocurrencies rebounded on Tuesday with bitcoin {{BTC}} climbing nearly 3% to around $58,000 as fears after last week's breakdown allayed. The recovery was broad-based, with the market benchmark CoinDesk 20 Index up 2.4% over the past 24 ho...

Markets

Jul. 09, 2024

Lionel Messi Promotes Obscure Meme Coin on Instagram, Leading to 350% Surge

Messi shared an image displaying the token's mascot, a cartoon glass of water, perched on his shoulder with a link to the project's Instagram page on Monday. One of the exchanges on which WATER is available for purchase is Bitget, which may exp...

Markets

Jul. 09, 2024

Bitcoin Little-Changed Above $57K as Fed Chair Powell Testifies to Congress

The Fed Chair acknowledged a softer labor market has gotten his attention, but reminded that inflation remains too high. Bitcoin bounced higher, but quickly gave back any gains. The chances of a September rate cut edged just so slightly highe...

Markets

Jul. 09, 2024

Ether ETF Fee Race Begins as Invesco Reveals 0.25% Charge, Slightly Higher Than VanEck

Asset managers Invesco and Galaxy will charge investors a 0.25% management fee on its proposed spot ether {{ETH}} exchange-traded fund (ETF) if and when it is rolled out. This is just slightly higher than VanEck’s 0.20%, which was disclosed las...

Markets

Jul. 09, 2024

CoinDesk 20 Performance Update: ICP and ETH Lead Gains as Index Climbs 1.9%

The CoinDesk 20 is currently trading at 1957.14, up 1.9% (+37.23) since yesterday's close. All 20 assets are trading higher. Leaders: ICP (+3.9%) and ETH (+2.7%). Laggards: ATOM (+0.0%) and AVAX (+0.2%). The CoinDesk 20 is a broad-based i...

Markets

Jul. 09, 2024

Bitcoin Steady Above $57K as Germany Moves 6.3K BTC to Exchanges

Bitcoin {{BTC}} held steady above the $57,000 mark in early U.S. hours Tuesday even as a German government entity moved an additional $360 million worth of the asset to various exchanges, Arkham data shows. The government moved 6,600 bitcoin...

Markets

Jul. 09, 2024

First Mover Americas: Bitcoin Regains $57K Following $300M of ETF Inflows

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin found...

Markets

Jul. 09, 2024

Bitcoin Cash's Mt. Gox-Led Sell-Off Is Amplified by Poor Liquidity

BCH fell 20% last week, its biggest loss in three months, as Mt. Gox announced creditor repayments. Slippage surged across centralized exchanges, signaling poor liquidity as prices fell. Bitcoin cash {{BCH}}, a cryptocurrency created by a ha...

Markets

Jul. 09, 2024

Drop in Bitcoin Mining Difficulty 'Comparable to FTX Collapse,' CryptoQuant Says

Bitcoin mining difficulty dropped significantly by 7.8% on June 5, 2024, reaching levels not seen since before the halving event in April. This marks the largest difficulty drop since the collapse of crypto exchange FTX in 2022. One analyst sai...

Markets

Jul. 09, 2024

Bitcoin ETF Traders Buy The Dip With Nearly $300M Inflows

On Monday, the U.S.-listed spot ETFs witnessed nearly $300 million in new inflows. Investors seem to be bargain-hunting as temporary supply overhangs weigh over BTC's price. Spot bitcoin {{BTC}} exchange-traded funds (ETFs) recorded nearly $3...

Markets

Jul. 09, 2024

Bullish Drivers Remain In Play Despite Germany's Bitcoin Sales and Mt. Gox Reimbursements

Germany's BTC sales and Mt. Gox reimbursements weigh over BTC. Major economies' expansionary phase, slowing inflation, and peak tech optimism on Wall Street suggest a positive outlook. It may seem like turbulent times in the crypto market ami...

Markets

Jul. 09, 2024

Australian Securities Exchange Gives Green Light to DigitalX's Bitcoin ETF

Australia's ASX is home to another bitcoin ETF. BTXX will begin trading Friday on the ASX. The Australian Securities Exchange (ASX) is now home to another bitcoin {{BTC}} exchange-traded fund (ETF). DigitalX's Bitcoin ETF will trade with the ...

Markets

Jul. 09, 2024

Bitcoin, Ether Reverse Losses as Germany Gets Back $200M BTC From Exchanges

Solana's SOL, Ether and other major tokens jumped as much as 7%. BKA received over $200 million from Kraken, Coinbase and Bitstamp. Bitcoin {{BTC}} led a crypto market recovery early Tuesday as a German government entity received over $200 m...

Markets

Jul. 08, 2024

Crypto-Friendly Sen. JD Vance's Odds as Trump VP Pick Double on Polymarket

Sen. J.D. Vance (R-Ohio), who is pushing to revamp crypto regulation, has a 29% chance of becoming former President Donald Trump's running mate. This is according to bets placed by traders on crypto-based prediction market platform Polymarket. ...

Markets

Jul. 08, 2024

Bitcoin Drops as German Government Moves Another $500M of Assets

Germany moved about $500 million of bitcoin to crpyto exchanges. The bitcoin price fell to as low as $55,000 before recovering. Bitcoin {{BTC}} fell on Monday afternoon in Europe as the German government moved another $500 million of assets, ...

Markets

Jul. 08, 2024

CoinDesk 20 Performance Update: 19 Out of 20 Assets in the Green

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 1959.12, up 3.2% (+60.03) since Friday's close. Nineteen of 20 assets ...

Markets

Jul. 08, 2024

First Mover Americas: BTC Rebounds to $57K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories During the Eu...

Markets

Jul. 08, 2024

Bitcoin Climbs Over $57K, With Some Saying Mt. Gox Sales Already ‘Priced In’

Bitcoin reversed a 4% loss to regain the $57,000 mark, with Ether surpassing $3,000. The market is shifting focus from Mt. Gox's repayments to U.S. Federal Reserve policies, with traders eyeing economic data releases and Fed Chair Jerome Powell...

Markets

Jul. 08, 2024

Digital Asset Funds Flip Positive for First Time in 4 Weeks: CoinShares

Bitcoin accounted for $398 million of the $441 million of inflows, and CoinShares noted it is unusual for BTC to represent only 90% of the total. Investment products last registered net inflows in the week ended June 7, when investors added mor...

Markets

Jul. 08, 2024

Ether Retakes $3K Amid Signs of Seller Exhaustion Before ETF Debut

Ether rose past $3,000 during European trading hours. Discounts in the Grayscale Ethereum Trust and the Coinbase indicator have evaporated. Price charts show seller exhaustion near the long-held support at $2,800. After falling nearly 20% in...

Markets

Jul. 08, 2024

Ethereum ICO-Era Stalwart Golem Sent $100M Ether to Exchanges in the Past Month

Golem, an Ethereum-based project, has transferred over $100 million worth of ether (ETH) to exchanges in the past month, potentially increasing selling pressure in the market. Golem raised millions of dollars during the 2016 ICO boom and has se...

Markets

Jul. 08, 2024

Germany Sill Holds $2.2B Worth of Bitcoin, Blockchain Data Show

Germany still holds 29,286 BTC worth $2.2 billion, according to Arkham Intelligence. The potential selling pressure equates to 9% of bitcoin's 24-hour trading volume. Germany has been running down its coin stash since mid-June. Germany's bi...

Markets

Jul. 08, 2024

CoinDesk 20 Down 7%, Bitcoin Sinks by 5% as Asia Trading Week Begins

The CD20 index is down 7% and BTC is in the red 5%. Uncertainty over interest rates is likely dragging on the market. The CoinDesk 20 (CD20) , a measure of the largest digital assets, began the Asia trading week down 7%, while bitcoin trad...

Markets

Jul. 06, 2024

Bitcoin ETF Investors Bought the Dip on Friday, With Inflows Topping $140M

Returning to their screens following the July 4 break, U.S. traders were confronted with a historic plunge in bitcoin {{BTC}} that saw its price fall more than 10% from the pre-holiday level. Based on ETF data, they decided to lift the offer. Ac...

Markets

Jul. 06, 2024

Biden's Odds on Polymarket Little Changed After ABC TV Interview

U.S. President Joe Biden may have seemed more coherent on Friday night's televised interview compared to the debate a week ago, but his odds of reelection did not substantially change, according to traders on crypto-based prediction market platfo...

Markets

Jul. 05, 2024

Crypto Crash Pushes Fear & Greed Index to Lowest Since Bitcoin Traded at $17K in Early 2023

Crypto investor sentiment cratered to the most negative levels since the tail-end of the 2022 crypto winter as bitcoin's {{BTC}} plunge below $54,000 pulled down digital asset markets. The widely-followed Crypto Fear & Greed Index, created b...

Markets

Jul. 05, 2024

CoinDesk 20 Performance Update: Index Plunged, With All 20 Assets Declining

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 1852.82, down 5.7% (-111.28) since yesterday's close. All 20 assets in...

Markets

Jul. 05, 2024

U.S. Added 206K Jobs in June as Unemployment Rate Rose to Highest Since November 2021

The U.S. employment market remained reasonably strong in June, with the U.S. Bureau of Labor Statistics reporting Friday the addition of 206,000 jobs, down from May's 218,000 (revised from an originally reported 272,000) but modestly topping econ...

Markets

Jul. 05, 2024

First Mover Americas: Bitcoin Slumps Below $54K as Mt. Gox Flags Repayments

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin slump...

Markets

Jul. 05, 2024

Bitcoin Traders Target $50K as Billions in BTC Selling Pressure Looms

The largest cryptocurrency could drop to as low as $50,000 in coming weeks as billions of dollars of supply may be released to the market. The prospect of bitcoins from defunct crypto exchange Mt. Gox and the German government hitting exchanges...

Markets

Jul. 05, 2024

U.S. Crypto Stocks Sink in Pre-Market Trading as BTC Slumps

The slump coincides with defunct crypto exchange Mt. Gox moving $2.6 billion worth of BTC to a new wallet prior to commencing creditor repayments. Michael Saylor's software company MicroStrategy, which holds over 210,000 BTC, and bitcoin miner ...

Markets

Jul. 05, 2024

U.S. Nonfarm Payrolls Eyed as Bitcoin Heads for Largest Weekly Loss Since FTX's Collapse

Mt. Gox fears have put BTC on a path to its largest weekly decline since November 2022. Weaker-than-expected U.S. jobs growth could put a floor under BTC, according to Bitfinex. The payrolls data due Friday is expected to show that the pace of...

Markets

Jul. 05, 2024

As Bitcoin Bellyflops to $54K Only Five Mining Rigs Remain Profitable, Says F2Pool

Only five mining rigs remain profitable as bitcoin prices dropped below $58,000, potentially signaling a local bottom for the market. Miners, who provide computing power to blockchain networks are facing significant operational costs. Only fi...

Markets

Jul. 05, 2024

Crypto Bulls Rack up $580M Liquidations as Bitcoin Drops 8%, Ether, Solana, Dogecoin Plunge

Crypto majors plunged as much as 20% in the past 24 hours as movements from a Mt. Gox-linked wallet spooked traders in early Asian hours, sending the market spiraling down 10% on average. Bitcoin (BTC) fell 8% to briefly below $54,000, before sl...

Markets

Jul. 05, 2024

Bitcoin Dips Below $54K as Mt. Gox Moves $2.6B in BTC

BTC slides to lowest since late February, breaching key price support. Early Friday, defunct exchange Mt. Gox moved 47,228 to a new address from cold storage. Bitcoin's {{BTC}} sell-off continued during Friday's Asian hours as defunct exchang...

Markets

Jul. 04, 2024

Bitcoin Nosedives Under $58K Amid Mt. Gox, German Government Wallet Movements

Bitcoin dropped under $58,000 for the first time since May, marking a 5% loss in 24 hours. Mt. Gox wallets, dormant for a month, showed activity with test transactions, hinting at potential asset distributions and increased selling pressure. ...

Markets

Jul. 04, 2024

Bitcoin Drops Below 200-Day Average; Bull Market Trendline in Focus

BTC tested the 200-day SMA line for the first time since October. The focus now is on the trendline representing the surge from October lows. Bitcoin's {{BTC}} decline gathered pace Thursday, sending prices under the 200-day simple moving ave...

Markets

Jul. 04, 2024

Decoding The $7B Decline in Bitcoin's Notional Open Interest

While notional open interest has dropped, OI in BTC terms has held steady alongside positive funding rates. That's a sign of renewed demand for longs amid the price dip, according to observers. Notional open interest in bitcoin {{BTC}} future...

Markets

Jul. 04, 2024

Mt. Gox Doomsday Scenario Involves Bitcoin Cash, Not Bitcoin: Analyst

Mt. Gox's bankruptcy redemptions are bearish for BCH, not BTC, writes Presto Labs' Peter Chung. Mt. Gox will send back to its former customers $73 million worth of BCH, worth over 20% of the token's daily trading volume. Fears that selling pr...

Markets

Jul. 04, 2024

Bitcoin Plunges Under $59K as Crypto Bulls See $230M Liquidations

Fears of sell pressure from Mt. Gox repayments and possible miner sales led to bitcoin dropping below $59,000, with major tokens like ether and Solana's SOL also declining. Trading firm QCP Capital anticipates a subdued market in the next quart...

Markets

Jul. 03, 2024

DeFi Tokens Plunge 10%-20%, Led by Pendle Amid Weak Crypto Price Action This Week

The governance token of Pendle declined 20% earlier this week amid steep roll-off in the value of assets locked on the platform. AAVE, LDO also saw more than 10% price drops as a large investor moved $10 million of tokens to Binance. Cryptocu...

Markets

Jul. 03, 2024

Biden's Odds of Dropping Out Surge to Almost 80% on Polymarket After New York Times Report

A New York Times report that President Joe Biden is weighing his future in the 2024 race prompted traders on Polymarket to boost the odds the Democrat will drop out nearly 80% on Wednesday. That's up from 55% earlier. The wild upswing caps a wee...

Markets

Jul. 03, 2024

CoinDesk 20 Performance Update: XRP and LTC Top Performers as Crypto Market Tumbles

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2062.59, down 4.2% (-90.03) since yesterday's close. All 20 assets in ...

Markets

Jul. 03, 2024

Bitcoin Losing $60K Handle May Trigger Wave of ETF Liquidations: Analyst

Buyers of the U.S. spot BTC ETFs have an average entry price between $60,000 and $61,000 and a break below the range could bring a wave of liquidations, 10x Research said. The institutional wave of ETF buying has yet to arrive, wrote Markus Thi...

Markets

Jul. 03, 2024

First Mover Americas: Bitcoin Falls to $60K as Mt. Gox Overhang Looms

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin {{BTC...

Markets

Jul. 03, 2024

Solana Meme Coin MEW's Cat Character to Feature on Trending Telegram Mini Game

Web3 gaming ecosystem Pixelverse will add Solana-based meme coin character MEW to its real-time game rooster. The move will likely attract a new audience within the Telegram ecosystem, where the Pixelverse games operate. MEW will be the first S...

Markets

Jul. 03, 2024

Crypto Venture Capital Market Rebound Extends Into Second Quarter: Galaxy

The crypto venture capital market rebound seen in the first quarter appears to be continuing, the report said. The correlation between the bitcoin price and capital invested has broken down as venture capital activity has struggled to keep up. ...

Markets

Jul. 03, 2024

TradFi Liquidity Stress Indicator Surges. What Does It Mean for BTC?

The secured overnight financing rate surged Monday, indicating liquidity stress in the U.S. banking system. That's a concern for markets in the short term, according to FRNT Financial's David Brickell. Signs of liquidity stress are emerging i...

Markets

Jul. 03, 2024

Trump-Biden Tussle Sees PoliFi Sector Lose Lustre as BODEN Drops 95% From Peak

Political finance (PoliFi) meme tokens are taking a hit in the run-up to the November U.S. elections, with several hyped stalwarts down nearly 95% from peak prices. Solana-based Jeo Boden (BODEN) meme coin , a play on Joe Biden mixed with Dol...

Markets

Jul. 03, 2024

Pre-ETF Ether Options Trend Mirrors BTC Except for One Key Difference

Ether's options market shows a bullish bias over the 30-day and six-month period ahead of the ETF launch, mirroring bitcoin market trends in January. Ether's market, however, shows no signs of bullish euphoria. The measured bullish sentiment m...

Markets

Jul. 03, 2024

Bitcoin Sinks Under $61K as One Trader Sticks to $150K Prediction This Year

Bitcoin and major cryptocurrencies experienced sharp declines during Asian trading hours, reversing gains made earlier in the week. The price drop was attributed partly to concerns of large BTC sales from the defunct Mt. Gox exchange, which is ...

Markets

Jul. 03, 2024

Biden's Odds of Dropping Out Jump to 55% on PolyMarket as Obama Raises 'Concerns' About Presidential Campaign

Polymarket bettors give a 55% chance that Biden will drop out of the Presidential race. Barack Obama has privately expressed concerns over Biden's campaign performance, according to the Washington Post The chance that President Biden drops ou...

Markets

Jul. 02, 2024

Kamala Harris' Odds of Winning Democratic Nomination Surge on Polymarket

Vice president Kamala Harris' odds of becoming the Democratic nominee for president this year more than quadrupled on Tuesday, according to traders on Polymarket, the crypto-based prediction market platform that's seen torrid growth in an electio...

Markets

Jul. 02, 2024

Investors Added Money to Bitcoin ETFs Even as Bitcoin Slipped 7% in June

Spot bitcoin ETFs saw net inflows of $790 million even as the price of bitcoin tumbled 7% in June. Previously, the funds experienced heavy outflows when the underlying cryptocurrency declined sharply, for example in April. The idea that the r...

Markets

Jul. 02, 2024

CoinDesk 20 Performance Update: ADA and XRP Lead

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index . The CoinDesk 20 is currently trading at 2161.29, down 0.2% (-3.87) since yesterday's close. Ten of 20 assets i...

Markets

Jul. 02, 2024

Bitcoin's Retreat From $70K Characterized by 'Vol Lethargy'

Deribit's BTC DVOL index, a measure of volatility expectations, has slipped to its lowest since early February. Continued volatility meltdown alongside price drop suggests an absence of demand for options. A renewed upswing in BTC's price to $...

Markets

Jul. 02, 2024

First Mover Americas: Bitcoin Bulls Hopeful Entering July as ETFs Record $130M Inflows

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin bulls...

Markets

Jul. 02, 2024

These Hot Crypto Tokens Beat Bitcoin Gains in Q2. Here's What Drove Prices And What's Next

BRETT, TON and KAS Shine in a lame quarter for the broader crypto market. TON's surge stemmed from messaging giant Telegram's involvement, while KAS benefitted from sentiment around its technology stack. BTC mining stocks, artificial intellige...

Markets

Jul. 02, 2024

Ether Spot ETFs to See Up to $5B of Net Inflows in First Six Months: Gemini

Gemini says it expects spot ether ETFs to see up to $5 billion of net inflows in the first six months of trading. Ether remains undervalued relative to bitcoin, and strong inflows into the ETFs could trigger a reversal, the report said. If the...

Markets

Jul. 02, 2024

Ethereum Products See Highest Outflows Since 2022 Ahead of Ether ETFs

Professional investors withdrew over $120 million from ether {{ETH}}-tracked exchange-traded products in the past two weeks, crypto firm CoinShares said in a Monday report. Such products recorded $60 million in net outflows each the past two wee...

Markets

Jul. 02, 2024

Bitcoin Traders Position for ‘Bullish July’ as BTC ETFs Record $124M Inflows

Since April, Bitcoin's price has ranged between $59,000 and $74,000, but historical trends suggest a potentially bullish July. Seasonal cycles, such as profit-taking around tax season in April and May, and increased demand in December, can infl...

Markets

Jul. 01, 2024

CoinDesk 20 Performance Update: NEAR and AVAX Lead

CoinDesk Indices ( CDI ) presents its daily market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index ( CD20 ). The CoinDesk 20 is currently trading at 2155.7, up 3.1% (+64.67) since last Friday's clo...

Markets

Jul. 01, 2024

Crypto Spot ETFs Will Have More Influence on Market's Price Action: Canaccord

Spot ETFs to have a bigger impact on crypto market price action, the report said. Canaccord noted that institutional adoption of crypto is still growing with more than half of the world’s largest hedge funds now trading or holding spot bitcoin ...

Markets

Jul. 01, 2024

First Mover Americas: Bitcoin Relief Rally Stalls at $63K as Crypto Rebound Faces Hurdles

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Digital asset...

Markets

Jul. 01, 2024

Market Confidence Could Quickly Crumble, BIS Warns Indebted Nations

Heavily indebted nations face the risk of a sudden loss of market confidence, BIS warned Sunday. The umbrella body for central banks cautioned against premature easing of monetary policy. The Bank of International Settlements (BIS) warned hea...

Markets

Jul. 01, 2024

Bitcoin's Potential Rebound May Face Resistance at $65K, OnChain Analysis Shows

Short-term holder wallets are in the red and may liquidate near their breakeven level at $65,000. Long-term holder wallets, with average cost of less than $20,000, are incentivized to hold or boost their coin stash. As bitcoin {{BTC}} looks t...

Markets

Jun. 28, 2024

Bitcoin and Crypto Closing Out Lame Quarter and One Analyst Believes More Pain Could Be in Store

A powerful start to 2024 had the bulls predicting $100,000 bitcoin {{BTC}} at some point this year, but relentless selling pressure during April and June (interrupted by a May bounce) has the price struggling not to drop below $60,000 as the quar...

Markets

Jun. 28, 2024

First Mover Americas: Bitcoin Awaits PCE Inflation Report

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin conso...

Markets

Jun. 28, 2024

Kaspa's KAS Token Bucks Broader Market, Surges 26% in a Week

The Kaspa blockchain's KAS token is the best-performing top 100 cryptocurrency of the past seven days. The price rally was accompanied by an even-bigger surge in futures open interest. There is always action in some pocket of the crypto marke...

Markets

Jun. 28, 2024

Long Dormant Whale Sends $61M BTC to Coinbase, OnChain Data Shows

A wallet inactive for six years moved 1,000 BTC to Coinbase early Friday. The so-called old hands have been selling coins this quarter, adding to bearish pressures in the market. Volatility may rise later Friday following the release of the Fe...

Markets

Jun. 28, 2024

T-Rex Group Files for 2x Long, Inverse Microstrategy ETF

T-Rex Group has filed for new ETFs that take a leveraged long or short position in Microstrategy (MSTR). MSTR is known for its volatility given its heavy exposure to bitcoin. T-Rex Group, the exchange-traded funds (ETFs) issuer, has filed for...

Markets

Jun. 28, 2024

Trump Surges to 67% in Polymarket Odds Post Presidential Debate

Republican candidate Donald Trump's odds of winning the 2024 election surged on Polymarket after the first debate. There's a growing market sentiment on the platform that President Biden will either not be the Democratic nominee or drop out of ...

Markets

Jun. 27, 2024

Crypto Markets To See Selling Pressure in July From Mt. Gox Creditors: JPMorgan

JPMorgan said crypto markets are faced with downside risk due to potential selling pressure from Mt. Gox creditors in July. Creditors are set to receive 142K bitcoin and there are concerns that some will dump their tokens as soon as they receiv...

Markets

Jun. 27, 2024

First Mover Americas: BTC’s Recovery Stalls as Dollar Rallies

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin's rec...

Markets

Jun. 27, 2024

Ether Spot ETFs Could See $5B of Net Inflows in the First Five Months: Galaxy

Galaxy said spot ether ETFs could see $5 billion of net inflows in the first five months. Demand for the new products is expected to come from independent investment advisors and broker/dealer platforms. The lack of staking rewards could limit...

Markets

Jun. 27, 2024

PoliFi Tokens, BTC Under Pressure Ahead of Biden-Trump Debate

Bitcoin and PoliFi tokens, TRUMP, TREMP and BODEN, suffered losses ahead of Thursday's presidential debate. Crypto traders will closely watch the debate, as Trump has made digital assets a vital issue in his presidential campaign. The consensu...

Markets

Jun. 27, 2024

Polymarket Contradicts Its Oracle Service in Rarity for Prediction Market

In a rare move, Polymarket has contradicted its decentralized oracle service UMA with regard to the resolution of a market betting on whether Barron Trump was likely involved with the DJT token. Neither Barron Trump nor Donald Trump's campaign ...

Markets

Jun. 26, 2024

Bitcoin Falls After U.S. Sends $240M Worth of Silk Road-Related BTC to Coinbase

Bitcoin {{BTC}} fell back towards $60,000 on Wednesday, after a wallet tagged to the U.S. Government moved about $240 million worth of seized BTC to a Coinbase Prime address, igniting concerns among traders that the digital assets will likely to ...

Markets

Jun. 26, 2024

Blast Token Debuts at $3B Value as 17% of Supply Airdropped to Early Adopters

Blast, the layer 2 blockchain, has distributed 17% of its native token supply to those that farmed points by staking ether {{ETH}} earlier this year. The token debuted at around $0.03 with an initial fully diluted market cap of $3 billion, accor...

Markets

Jun. 26, 2024

First Mover Americas: Germany Moves 750 BTC, Altcoins Bleed Liquidity

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin, afte...

Markets

Jun. 26, 2024

Investcorp and Securitize Launch Fund Tokenization Partnership

Investment manager Investcorp and Securitize have launched a partnership to tokenize funds. This version of real-world assets (RWA) on the chain looks to build efficiencies for investors. Alternative asset manager Investcorp and Securitize ha...

Markets

Jun. 26, 2024

Ether Spot ETFs to Attract $15B of Net Inflows in First 18 Months: Bitwise

Ether spot ETFs are likely to attract $15 billion of net inflows in the first 18 months, Bitwise CIO Matt Hougan wrote. Potential inflows can be estimated by comparing the relative market caps of bitcoin and ether, the report said. Bitcoin ben...

Markets

Jun. 26, 2024

Renewed Bullishness Expected After Bitcoin, Ether's $10B Options Expiry on Friday

The size of the impending BTC, ETH options expiry represents over 40% of total notional options open interest on Deribit. Over 25% of options are set to expire "in the money." Traders anticipate a renewed bullish shift in bitcoin and ether nex...

Markets

Jun. 25, 2024

First Mover Americas: BTC Steadies, but 10% Monthly Loss Questions Nasdaq Rally

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories The crypto ma...

Markets

Jun. 25, 2024

German Government Entity Moves $24M Bitcoin to Kraken, Coinbase: Arkham

The German Federal Criminal Police Office (BKA) transferred $24 million in Bitcoin across two transactions to crypto exchanges Kraken and Coinbase. Another $30 million worth of BTC was moved to a new wallet, with previous transfers totaling $19...

Markets

Jun. 25, 2024

PoliFi Tokens Return to Business After Proof of DJT-Trump Link Fails to Materialize

PoliFi tokens are back in the green after no credible evidence emerged that the Trump campaign or his family is involved with the DJT token. Martin Shkreli continues to claim there was involvement. So-called PoliFi tokens such as TRUMP, TREMP...

Markets

Jun. 25, 2024

Ether Spot ETFs Could See Lower Demand Compared to Bitcoin Peers: Bernstein

Ether spot ETFs are expected to see less demand than bitcoin versions, the report said. The lack of a staking feature in ether ETFs means less spot conversion, the report said. Bernstein said that despite the recent pullback in crypto markets ...

Markets

Jun. 25, 2024

Mt. Gox Redemption Fears ‘Overblown’ Say Traders as $10B BTC Holdings Draw Concerns

Traders believe the selling pressure from Mt. Gox's repayments might be less severe than anticipated, potentially easing concerns about an immediate selloff. Galaxy Research suggests that a significant portion of the distributed Bitcoin may not...

Markets

Jun. 25, 2024

Mt. Gox Effect? Bitcoin Dominance Drops Most in 5 Months

BTC's dominance rate slid as Mt. Gox news weighs over BTC. Short-duration options show renewed bias for puts or downside protection. Some observers say Mt. Gox concerns may be overblown. Bitcoin {{BTC}} is usually less volatile than alternat...

Markets

Jun. 25, 2024

Bitcoin Holds $61K After a Brief Nosedive

Bitcoin is trading above $61K after plunging to $59K as Asia began its trading day Bitcoin has seen significant selling pressure from continued ETF outflow, Mt. Gox's upcoming bankruptcy redemptions, and miner sales. Bitcoin {{BTC}} is stable...

Markets

Jun. 24, 2024

Bitcoin Threatens $60K on Mt. Gox News, but Sales Could Be Less Than Feared

Bitcoin {{BTC}} is leading crypto prices sharply lower Monday after the trustee for the defunct Mt. Gox crypto exchange said it will begin returning more than 140,000 BTC in July to clients whose assets were stolen in a 2014 hack. At press time,...

Markets

Jun. 24, 2024

First Mover Americas: Mt. Gox Repayments Worsen BTC Woes

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bearish senti...

Markets

Jun. 24, 2024

Bitcoin Mining Sector Is Attracting Growing Investor Interest Following Core Scientific Deal: JPMorgan

Bitcoin miners are seeing an influx of investor interest following Core Scientific's AI deal with CoreWeave, the report said. Iris Energy is best positioned to take advantage of the growing HPC/AI opportunity. Investors are waking up to the al...

Markets

Jun. 24, 2024

Ether Traders Buy $4K Calls In Anticipation of Record High

A ton of buying activity observed in ether $4,000 calls expiring in September. The bullish flow is consistent with elevated volatility expectations. Catching a falling knife is risky, but some crypto options traders look to be doing just that...

Markets

Jun. 24, 2024

Mt. Gox to Begin Repayments in July; BTC Slides Under $61K

Defunct bitcoin exchange Mt. Gox said it will start distributing assets stolen from clients in a 2014 hack in July 2024, after years of postponed deadlines. The repayments will be made in bitcoin and bitcoin cash, and could possibly add selling...

Markets

Jun. 24, 2024

Majority of Japanese Institutional Investors Plan to Invest in Crypto in Next Three Years: Nomura Survey

54% of firms surveyed said they planned to invest in crypto in the next three years. A quarter of respondents said they had a positive impression of digital assets. The preferred allocation to crypto was between 2%-5% of AUM, investors said. ...

Markets

Jun. 24, 2024

Japan’s Metaplanet Wants to Buy Another $6M Bitcoin

Metaplanet plans to increase its bitcoin holdings by purchasing an additional $6 million worth of BTC, adding to its existing $9 million investment. The funds for the purchase will come from an upcoming bond issuance on Wednesday. Stock prices ...

Markets

Jun. 24, 2024

Bitcoin Nears $62K as Crypto Bulls See $150M in Liquidation

Major tokens experienced a significant drop of up to 7.5% in the past 24 hours, with Bitcoin losing 3% and other major cryptocurrencies such as Ethereum, Cardano, and Solana also seeing declines. The decline led to the liquidation of over $150 ...

Markets

Jun. 24, 2024

Bitcoin's Double Top Suggests BTC Could Fall to $50K: Analyst

The U.S. election and CPI could be a bullish factor later this year. Fed's preferred inflation gauge, the PCE price index, due Friday, could offer relief. Bitcoin {{BTC}} has carved out a double-top price pattern, signaling a potential bearis...

Markets

Jun. 21, 2024

This Is Why Altcoin Investors Struggle Despite Bitcoin, Ether Sitting Near Yearly Highs

Crypto majors such as SOL, AVAX, APT, SUI saw 40% to 70% corrections over the past months, weighing on altcoin sentiment, while BTC and ETH are down only 15% from their yearly highs. Venture funds are under pressure to sell tokens to realize pr...

Markets

Jun. 21, 2024

McKinsey Sees Just $2T of Tokenized RWAs by 2030 in Base Case, With Broad Adoption 'Still Far Away'

Tokenization adoption will happen in waves led by assets such as mutual funds, bonds, loans, McKinsey said in a report. Many institutions are still in "wait and see" mode while early movers can capture "oversized market share," the report added...

Markets

Jun. 21, 2024

Bitcoin Slumps Under $64K Amid Historic ‘Negative’ Sentiment

Bitcoin's {{BTC}} slow bleed lower over the past weeks has sped up Friday, the price dipping more than 3% in the past 24 hours to slide to about a five-week low of $63,700, now lower by 9% over the past month. Contrarian bulls, however, might t...

Markets

Jun. 21, 2024

Meme Coin Liquidity Hits Record High Even as Bid-Ask Spread Spotlights Risk

Record liquidity, measured by 1% market depth, suggests ease in executing orders and stable prices. Nevertheless, bid-ask spreads remain elevated, a sign the tokens are still considered relatively risky. Executing trades in prominent meme coi...

Markets

Jun. 21, 2024

First Mover Americas: Bitcoin Falls Below $64K Following $900M in ETF Outflows

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin fell ...

Markets

Jun. 21, 2024

Bitcoin ETFs Post $900M in Net Outflows This Week

Spot bitcoin ETFs in the U.S. experienced their fifth consecutive day of outflows on Thursday, totaling over $900 million in losses for the week. Grayscale's GBTC and Fidelity's FBTC led the outflows, while BlackRock's IBIT was the only ETF to ...

Markets

Jun. 20, 2024

Canada's 3iQ Files to List Solana ETP in Toronto

Canadian asset manager 3iQ announced it has filed a prospectus to list a Solana ETF in Toronto. 3iQ was one of the first fund managers to launch a publicly traded Bitcoin fund, as well as an Ether fund in Toronto 3iQ announced today that it h...

Markets

Jun. 20, 2024

DeFi Technologies Stock Sell-Off is 'Attractive Buying Opportunity,' Benchmark Says

Benchmark said the sell-off in altcoins triggered the decline in DeFi Technologies' stock, and the weakness was further compounded by the publication of a negative opinion piece. The broker reiterated its buy rating and C$3 price target. The ...

Markets

Jun. 20, 2024

First Mover Americas: Crypto Assets Rally With BTC Returning to $66K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Crypto assets...

Markets

Jun. 20, 2024

LayerZero Says Users Must Pay 10 Cents Per ZRO To Claim Token

LayerZero's ZRO token airdrop requires recipients to donate 10 cents worth of ether (ETH) or a stablecoin for each token they wish to claim. This "proof-of-donation" mechanism is a unique approach in the crypto community, where donations are us...

Markets

Jun. 20, 2024

Stablecoin Issuers Now 18th Largest Holder of U.S. Debt

Stablecoin issuers are the world's 18th biggest holders of U.S. debt. Of the many crypto bills in the U.S. political corridors, stablecoin legislation has been the closest to moving past the U.S. Congress to become law. Stablecoin issuers are...

Markets

Jun. 20, 2024

Dogecoin Traders Appear to Short Token as Meme Coin Frenzy Eases

The crypto market’s biggest meme token is starting to attract short bets amid a general decline in the meme sector, which may spell worry for the meme sector. Coinalyze data shows that Dogecoin {{DOGE}} funding rates have started to turn neg...

Markets

Jun. 20, 2024

Solana-Ether Ratio Hits 3-Month Low, Analyst Anticipates Further Losses

The SOL/ETH ratio slides as ether ETF narrative weighs over altcoins. Technicals have flipped bearish, signaling more losses ahead for the ratio. A month ago, CoinDesk discussed how spot ether {{ETH}} ETF speculation could spur an outflow o...

Markets

Jun. 20, 2024

AI Tokens Led by FET, AGIX Surge as Nvidia Zooms to Become World’s Most Valuable Company

AI-themed tokens surged up to 35% in the past 24 hours, significantly outperforming the broader crypto market, which remained largely flat. The growth in AI token prices mirrored a rise in Nvidia's stock, which became the most valuable company ...

Markets

Jun. 20, 2024

Monero's XMR Token Reverses February Slide With Golden Cross

XMR briefly topped $180 last week, reversing the Binance-led February slide. The token has gained nearly 25% in four weeks amid a crackdown on Botnet mining. XMR's daily chart shows a bullish golden cross pattern. It is said that markets typ...

Markets

Jun. 19, 2024

German Government Agency Moves $425M Bitcoin, Some to Crypto Exchanges

A German government agency appears to have transferred $425 million in bitcoin to another wallet, returning some to the original wallet and sending a portion to crypto exchange deposit wallets. Transactional data shows deposits worth $32 millio...

Markets

Jun. 19, 2024

First Mover Americas: Ether, Meme Coins Lead Recovery While Bitcoin Remains Subdued

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories The digital a...

Markets

Jun. 19, 2024

Bitcoin Whales Sold Over $1B BTC in Past Two Weeks: CryptoQuant

Long-term bitcoin holders and miners have been significant sellers of the cryptocurrency in the past two weeks with little indication of renewed buying interest. This trend has been observed through a decrease in UTXO age bands, indicating inc...

Markets

Jun. 19, 2024

Elevated Ether Volatility Expectations May Be Unfounded

The spread between ether and bitcoin implied volatility indexes has widened, reflecting excitement about the potential debut of spot ETH ETFs in the U.S. Volatility pricing may be off the mark because institutions might use the spot ETFs to set...

Markets

Jun. 19, 2024

Bitcoin, Crypto-Related Stocks Are Ripe for Institutional Adoption: Bernstein

Crypto markets are on the cusp of further institutional adoption, the broker said. Spot bitcoin ETFs will be approved by major wirehouses and large private bank platforms in the third and fourth quarters, the report said. Bernstein predicts th...

Markets

Jun. 19, 2024

Meme Coins and Macro: U.S. Credit Card Holders Most Stressed Since 2012

The percentage of credit card loans in serious delinquency has risen to the highest in over a decade. That may indicate a challenging period ahead for the U.S. economy and speculative activities. Top meme coins have dropped 20% in four weeks. ...

Markets

Jun. 19, 2024

Martin Shkreli Says He is Behind Trump-Linked DJT as ZachXBT, GCR Start Poking Around

Martin Shkreli, also known as "Pharma Bro," claims he and Barron Trump created the DJT token after initially denying involvement. This revelation followed a series of events, including Shkreli's $100 million bet with crypto trader GCR on the to...

Markets

Jun. 18, 2024

Original TRUMP Token Struggles With Exchange Listings as DJT Rockets

The team behind TRUMP (the meme coin, not the former U.S. president) have a similar complaint as their crypto token's namesake: They say the game is rigged against them. The team, who have no official ties to Donald Trump, told CoinDesk they've ...

Markets

Jun. 18, 2024

UNI Advance Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update

CoinDesk Indices ( CDI ) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index ( CD20 ) and the broad CoinDesk Market Index ( CMI ). Uniswap {{UNI}} led the CoinDesk 20 this...

Markets

Jun. 18, 2024

MicroStrategy Is Pioneering Bitcoin Capital Markets, Bernstein Says

MicroStrategy is pioneering bitcoin capital markets, the report said. The firm has raised $4 billion of convertible debt to buy bitcoin. No other company has an active bitcoin investing strategy that can attract large amounts of capital, Berns...

Markets

Jun. 18, 2024

First Mover Americas: Crypto Majors Slide Further; SOL, DOGE Among Worst Affected

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Crypto majors...

Markets

Jun. 18, 2024

AI-Related Coins Slide as Google Search Shows Peak Retail Investor Interest

Top coins supposedly associated with artificial intelligence (AI) have dropped over 20% in seven days. Google Trends shows peak public interest in AI. Spikes in crypto-related Google search queries have historically occurred at major market t...

Markets

Jun. 18, 2024

Dogecoin Bulls See $60M Liquidations in Biggest Hit Since 2021

Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures. The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in th...

Markets

Jun. 18, 2024

XRP, LINK, ETH Stand Out Relative to BTC in Sector Rotation Analysis, DOGE Struggles

Fairlead's 12-week relative rotation graph shows signs of green shoots in XRP, LINK, ETH DOGE likely to continue underperforming BTC and may become a "laggard." Crypto traders looking for clues on pockets of the crypto market seeing signs of ...

Markets

Jun. 18, 2024

Dogecoin, Solana Lead Crypto Majors Plunge as Bitcoin Falls Below $66K

Major tokens, including Bitcoin and Ether, experienced significant declines in Asian trading hours on Tuesday. This was influenced by ongoing profit-taking and outflows from U.S.-listed Bitcoin ETFs, which impacted bullish sentiment. The declin...

Markets

Jun. 17, 2024

'DJT' Solana Token Surges on Unconfirmed Report Trump's Behind It

DJT, a crypto token minted two months ago on the Solana blockchain, rallied as much as 180% Monday on an unconfirmed report that former U.S. president Donald J. Trump is behind it. If true, this would be the first time a presidential candidate...

Markets

Jun. 17, 2024

Trump and Biden Likely Won't Shake Hands at Debate, Prediction Market Says

This week in prediction markets: Polymarket bettors doubt Biden and Trump will shake hands at debate. Manifold forecasters expect a correction from the Guardian. Prediction markets don't see an Edmonton Stanley Cup victory, nor do sportsbooks...

Markets

Jun. 17, 2024

Bitcoin Bounces to $67K with BTC Miners Rallying 5%-10%; XRP Leads Altcoins

The digital asset market saw a quick reversal Monday with bitcoin {{BTC}} erasing an early decline to nearly $65,000 and returning to the $67,000 level for the time in three days. The $65,000 area was the same level from which bitcoin bounced ...

Markets

Jun. 17, 2024

First Mover Americas: Crypto Majors Subdued After Fed's Hawkish Stance

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories The biggest c...

Markets

Jun. 17, 2024

Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinShares

The outflows offset minor inflows for a broad selection of altcoins, including ETH, LIDO and XRP. Crypto markets have been laid low by a hawkish stance on interest rate cuts by the FOMC. Bitcoin investment products saw a total of $621 million...

Markets

Jun. 17, 2024

U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

The aggregate market cap of the 14 U.S.-listed bitcoin mining stocks the bank tracks hit a record high in June, the report said. The bank noted that miners outperformed bitcoin on news of Core Scientific’s deal with AI firm CoreWeave. U.S.-lis...

Markets

Jun. 14, 2024

Bitcoin Plunges to $65K, Altcoins Bleed 10%-20% as Week Turns Ugly

What looked like prime time for crypto assets on softening inflation data has turned into an ugly week with bitcoin {{BTC}} tumbling to its weakest price in four weeks on Friday. BTC tumbled more than 2% in an hour to $65,100 during the U.S. tra...

Markets

Jun. 14, 2024

First Mover: Bitcoin Struggles Near $67,000 as Cryptos Lag Behind Stocks

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin waver...

Markets

Jun. 14, 2024

Bitcoin Traders See Short-Term Bearish Target at $60K as Miners Pare Holdings

Traders anticipate a deeper drop for bitcoin (BTC) in the coming weeks, despite a strong equity market and favorable U.S. crypto policies, pointing to selling activity from miners and general profit taking. Bitcoin's upper potential may be limi...

Markets

Jun. 14, 2024

Here's Why Bitcoin's Not Keeping Pace With Nasdaq

Bitcoin lost 6% in one week even as Nasdaq climbed to an all-time high. Crypto-specific factors like profit-taking by holders and increased selling by miners seem to be holding back the BTC price. Bitcoin {{BTC}} has declined over 6% in seven...

Markets

Jun. 14, 2024

Bitcoin Could Hit $1M Within 10 Years, Bernstein Says as It Initiates Coverage of MicroStrategy

The bitcoin price could hit $1 million by 2033 and is likely to reach a $200,000 cycle-high by 2025. MicroStrategy initiated as outperform with a $2,890 price target at Bernstein. The software company's long-term convertible debt strategy mean...

Markets

Jun. 14, 2024

Bitcoin ETFs See $226M Outflows Led by Fidelity’s FBTC

U.S.-listed bitcoin ETFs experienced outflows totaling over $226 million on Thursday, marking the third day of outflows this week. This trend echoes the stream of outflows that took place at the end of April. U.S.-listed bitcoin {{BTC}} excha...

Markets

Jun. 13, 2024

Assured Spot Ether ETF Approval Fails to Stir Slumping Crypto Market

Cryptocurrency markets remained under pressure during U.S. trading hours on Thursday, continuing a pullback that began a day earlier when the Fed signaled it only expected to cut rates once this year. The price of ether {{ETH}} for a led a mid-m...

Markets

Jun. 13, 2024

Early Buyers of Andrew Tate’s DADDY Meme Coin Apparently Sitting on $45M in Unrealized Value

People in the know on the issuance of social influencer Andrew Tate’s daddy (DADDY) meme tokens are apparently sitting on $45 million in unrealized value, wallet tracking service Bubblemaps alleged in an X post . While wallets directly connec...

Markets

Jun. 13, 2024

First Mover Americas: Bitcoin Holds $67K, CRV Slides

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin held ...

Markets

Jun. 13, 2024

Paxos Cuts 20% of Staff: Bloomberg

Paxos has laid off 65 people as it increases its focus on tokenization. CEO Charles Cascarilla wrote in a company email that the firm is in a "very strong financial position to succeed.” Digital assets company Paxos has laid off 65 people, or...

Markets

Jun. 13, 2024

CRV Slides 30% as Loans Tied to Curve’s Founder Face Liquidation Risk

CRV plunges as Curve founder faces multi-million dollar liquidation risk. Founder Micheal Egorov has taken a CRV-backed cumulative loan of nearly $100 million, data tracking firms said. Lending protocol Curve’s CRV token plunged 30% in earl...

Markets

Jun. 13, 2024

Stick With Bitcoin, Avoid Ether, 10x Research Says After Fed Predicts Just One Rate Cut For 2024

BTC tends to rally after softer-than-expected CPI releases, 10x said. The Fed will eventually signal more rate cuts, the research firm added. ETF inflows resumed Wednesday as U.S. inflation came in lower-than-expected. 10x Research continues...

Markets

Jun. 12, 2024

U.S. CPI Was Flat in May, Beating Expectations; Bitcoin Rises to $69.2K

The U.S. Consumer Price Index (CPI) was flat in May, beating economist forecasts for a 0.1% rise and down from 0.3% in April. On a year-over-year basis, CPI was up 3.3%, compared to analyst forecasts and the previous month's reading at 3.4%. Th...

Markets

Jun. 12, 2024

First Mover Americas: Bitcoin Stabilizes Amid Further ETF Outflows

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin has ...

Markets

Jun. 12, 2024

Crypto and Artificial Intelligence Could be a $20 Trillion Megatrend, Bitwise Says

AI and crypto combined could add a total of $20 trillion to the global economy by 2030, the report said. Bitwise notes that bitcoin miners have all the resources that AI firms need. Crypto and AI have the potential to intersect in other areas ...

Markets

Jun. 12, 2024

U.S. CPI and Fed Meeting: Things to Watch Out as BTC Nurses Losses

Dollar index, bitcoin at the mercy of core inflation, housing rent and Fed's take on inflation trajectory. Investment banks expects a decline in the housing rent. A hotter-than-expected CPI could shock risk assets. Wednesday could prove t...

Markets

Jun. 12, 2024

Bitcoin ETFs See $200M Net Outflows in Fed, CPI Jitters

U.S.-listed spot bitcoin exchange-traded funds (ETFs) recorded the second consecutive day of outflows driven by Grayscale's GBTC. The outflows are likely due to traders derisking ahead of U.S. CPI and the Fed rate decision. U.S.-listed spot b...

Markets

Jun. 11, 2024

Bitcoin Pullback to $66K Triggers $250M in Crypto Liquidations as Traders Brace for 'Wild Wednesday' of FOMC, CPI Report

Cryptocurrencies tumbled deeper into correction on Tuesday with bitcoin {{BTC}} dipping to near $66,000 as traders brace for Wednesday's key U.S. inflation report and Federal Reserve meeting. Bitcoin {{BTC}} started the day trading near $70,000 ...

Markets

Jun. 11, 2024

Will Trump Trounce Biden? Polymarket Traders Are Betting on It.

This week in prediction markets Do prediction markets have a pro-Trump bias? Or do they just put a premium on the front-runners? Trump and Biden will likely debate, while Trump won't be charged with another felony, Polymarket prices signal. K...

Markets

Jun. 11, 2024

First Mover Americas: Bitcoin Falls Below $67K as ETFs' Inflows Streak Ends

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin fell ...

Markets

Jun. 11, 2024

Fed Should Cut Interest Rate as Restrictive Stance Adds to Inflation, Democrats Say

Now is the time to cut rates, three Democrat senators said in a letter to the Fed on Monday. The Fed should move away from its 2% inflation target, the letter added. The Federal Reserve (Fed) has kept the interest rate too high for too long a...

Markets

Jun. 11, 2024

Bitcoin ETFs See $65M Net Outflows on Monday, Breaking 19-Day Record Streak

The 19-day streak of net inflows for U.S.-listed spot bitcoin exchange-traded funds (ETFs) ended on Monday with a combined $65 million in net outflows. Grayscale’s GBTC led the outflows with $40 million, continuing its trend as the worst-perfor...

Markets

Jun. 11, 2024

Meme Sector Sees Sharp Sell-off as GameStop Losses Extend to 60%

Double-digit losses in GameStop weigh over meme coins. Meme token GME and KITTY fall 25% and 10%, respectively. The controversial GameStop (GME) stock rally saw its second day of reversing on Monday, ending the U.S. trading session down 12% a...

Markets

Jun. 10, 2024

AI-Linked Crypto Tokens Underperform as Apple's Event Fails to Impress Traders

Apple shares tumbled nearly 2% as tech giant unveiled its AI plans during the annual developers event. The rout rippled through AI-adjacent cryptos which underperformed the broader digital asset market. Artificial intelligence-linked (AI) cry...

Markets

Jun. 10, 2024

Crypto Mainstream Adoption Has Increased in Recent Months, Canaccord Says

Galaxy Digital price target raised to C$23 from C$17 at Canaccord. The crypto financial services firm is well positioned to benefit from the continued adoption of digital assets, the report said. The company’s mining assets could appreciate in...

Markets

Jun. 10, 2024

First Mover Americas: Bitcoin Little Changed After Liquidation Rout

This article originally appeared in First Mover , CoinDesk's daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin was l...

Markets

Jun. 10, 2024

Bitcoin Bags $2B Inflows, Ether Sees Highest Institutional Buying Since March

Bitcoin led the investment activity with over $1.97 billion in inflows, while Ether saw its best week since March with nearly $70 million in inflows. Some traders expect buying activity in ether-tracked products to continue, with expectations o...

Markets

Jun. 10, 2024

Payrolls-Led Bitcoin, Ether Price Swoon Is 'Buy the Dip' Opportunity, Crypto Trading Firm Says

BTC, ETH's post-payrolls report price drop is a good opportunity to buy the dip, QCP said. The Fed will find it difficult to ignore G7 interest-rate cuts, the trading firm added. Bitcoin {{BTC}} and ether {{ETH}} have lost steam since Friday'...

Markets

Jun. 10, 2024

Bitcoin, Ether Little Changed Over Weekend After $400M Liquidation Rout

Analysts expect increased market volatility in the upcoming week due to key macroeconomic events such as the CPI release and a speech by Janet Yellen. The crypto market experienced a downturn following the release of stonger-than-expected U.S. ...

Markets

Jun. 07, 2024

Big Friday Crypto Selloff Pulls Bitcoin Below $70K

Challenging an all-time high earlier Friday, bitcoin has pulled back, giving up most of its weekly gains The selloff in the rest of the cryptocurrency market was far larger as speculative fever cooled The spot bitcoin ETFs are on their largest...

Markets

Jun. 07, 2024

GameStop Tumbles 40% as Trading Icon Roaring Kitty Returns to Livestream

Retail trading legend Keith Gill, otherwise known as Roaring Kitty or DeepF*ckingValue aliases on social media, returned to his livesteam for the first time in several years on Friday. Prior to the livestream, GameStop (GME) shares tumbled 25%...

Markets

Jun. 07, 2024

Robinhood’s Bitstamp Deal is Strategic and Brings Added Institutional Exposure: Bernstein

The Bitstamp acquisition is a strategic move by Robinhood to expand its crypto business, the report said. Bernstein said that by acquiring an exchange the trading platform can offer markets in many more tokens. JMP said it doesn't expect mater...

Markets

Jun. 07, 2024

First Mover Americas: Bitcoin Futures Positions Top Record $37B as Analysts Predict Bitcoin Surge to $83K

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin trade...

Markets

Jun. 07, 2024

Bitcoin Could Lift to $83K in the Coming Days, Analyst Says

10x Research projects a rally to $83,000 based on technical analysis. The bullish breakout is likely to happen on Friday or next week. Bitcoin {{BTC}} may be setting up for a rise to $83,000 as it completes a major bullish price pattern on th...

Markets

Jun. 07, 2024

RoaringKitty a GameStop Billionaire by Friday? Crypto Traders Are Placing 50% Odds

Market watchers expect Keith Gill, known as Roaring Kitty, to potentially reach a billion-dollar position in GameStop stock by Friday. Polymarket bets on Gill becoming a billionaire have gained traction, with "yes" odds rising to 50. Market w...

Markets

Jun. 07, 2024

Bitcoin Bets Hit Peak of $37B as ETF Inflows Set New Record

Bitcoin traders have set a new record for BTC futures positions, with open interest surpassing $37.7 billion. The surge in open interest coincides with record inflows into spot bitcoin ETFs and a bullish long-short ratio, indicating positive ma...

Markets

Jun. 06, 2024

Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin and Is Raising Money to Purchase More

Semler Scientific is continuing to add bitcoin to its treasury with a $17 million purchase and an announcement that it's raising $150 million so it can buy more. Its May announcement of a $40 million bitcoin purchase drove the company's stock u...

Markets

Jun. 06, 2024

GameStop-Inspired Solana Memecoin Soars Over 80% as Roaring Kitty Flashes $586M Worth of GME Position

It's 2021 all over again as shares of video retailer GameStop (GME) soared Thursday after influential retail trader Keith Gill, better known under his RoaringKitty or DeepFuckingValue aliases, provided an update on his massive bet on the embattle...

Markets

Jun. 06, 2024

Bitcoin Falls Back After Attempt at $72K, but Fed, U.S. Data and Global Rate Cuts May Bring New All-Time Highs

Bitcoin spot selling on exchanges weighed on prices with a built up of short derivatives positions around the $72,000 level, one observer noted. Soft U.S. economic data, rate cuts could foreshadow dovish a Fed meeting next week. Bitcoin {{BTC...

Markets

Jun. 06, 2024

First Mover Americas: Bitcoin Fluctuates Around $71K, Consolidating This Week's Rally

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin fluct...

Markets

Jun. 06, 2024

Bitcoin Could Hit $150K by 2024-End on Hopes of Donald Trump Being Re-Elected: Standard Chartered

Bitcoin’s value could potentially reach $150,000 by the end of 2024. This is based on the assumption that Donald Trump’s U.S. election victory would be a positive boost for the crypto industry. Bitcoin {{BTC}} remains on track to touch the as...

Markets

Jun. 06, 2024

Meme Coin Institutional Holdings Surged Since January, Led by DOGE, SHIB, PEPE

Institutional allocations to meme coins have surged over 300% this year, touching a high of almost $300 million in April. The influx highlights professional investors' growing interest in the sector, according to Bybit. Dogecoin and shiba inu ...

Markets

Jun. 05, 2024

VanEck Sees Ether Hitting $22K by 2030

VanEck projects that ether will hit $22,000 by 2030. This thesis is based upon ether's disruptive ability, progress with the ETF, and VanEck's read of on-chain data. VanEck has a new price target for ether {{ETH}}, the native token of the Eth...

Markets

Jun. 05, 2024

Bitcoin Options Traders Anticipate Imminent Breakout Above $74K to New Record Prices

Options trading desks saw heavy buying activity for BTC calls with June expiry. BTC "ready to squeeze higher" with some $1.5 billion worth of shorts concentrated around the $72,000 that can be liquidated, Matrixport noted. Bitcoin {{BTC}} opt...

Markets

Jun. 05, 2024

Bitcoin Miners With Attractive Power Contracts Are Potential M&A Targets, JPMorgan Says

Power demand from hyperscalers and AI firms may make bitcoin mining companies potential takeover targets, the bank said. JPMorgan said CoreWeave’s deal with Core Scientific validates the mining sector’s pivot to HPC. The report said that bitco...

Markets

Jun. 05, 2024

Bank of Canada Begins G-7 Monetary Easing Cycle, Trimming Benchmark Rate 25 Basis Points

As expected, the Bank of Canada Wednesday morning cut its benchmark overnight rate by 25 basis points to 4.75%. The move was anticipated by most economists as policymakers in Canada had previously signaled satisfaction with the direction of in...

Markets

Jun. 05, 2024

Riot Platforms Falls After the Bitcoin Miner Is Targeted by Short-Seller Kerrisdale

Bitcoin miner Riot Platforms (RIOT) underperformed peers on Wednesday after prominent short-seller Kerrisdale Capital said it's short RIOT stock and long bitcoin {{BTC}}. Kerrisdale accused the miner of burning cash and gouging retail shareholde...

Markets

Jun. 05, 2024

First Mover Americas: Bitcoin Tops $71K After Best Day for ETF Inflows Since March

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories BTC crossed $...

Markets

Jun. 05, 2024

BNB Chain Ecosystem Heats Up as Token Hits Lifetime High Above $710

BNB Chain ecosystem projects experienced a surge in activity, token prices and trading volume. The BNB token price hit an all-time high of more than $710. The increase is attributed to several factors including token burns, the large user base...

Markets

Jun. 05, 2024

Bitcoin Crosses $71K as BTC ETFs See $880M Inflows in Best Day Since March

U.S.-listed spot bitcoin ETFs saw over $880 million in inflows on Tuesday, led by Fidelity's FBTC. Bitcoin rose over $71,000 in Asian trading hours, adding 3% in the past 24 hours, with the CoinDesk 20 index rising 2.65%. U.S.-listed spot bit...

Markets

Jun. 04, 2024

Bain Capital Crypto Raising Second Fund: Filing

Bain Capital Crypto is planning to launch a second fund, according to a U.S. Securities and Exchange Commission filing . Bain Capital launched its first crypto fund in March 2022. The $560 million fund launched just before the collapse of Do ...

Markets

Jun. 04, 2024

Uniswap, Starknet, BNB Lead Altcoin Gains as Bitcoin Hits $71K

Bitcoin hit a two-week high above $71,000 before paring gains, up 1.5%. May ISM manufacturing data showed a slowing U.S. economy, buoying rate cut expectations. Bitcoin miners CORZ, WULF, BTDR booked double-digit gains. Several altcoins led ...

Markets

Jun. 04, 2024

Ether Price Poised for Supply 'Shock' as ETFs May Attract $4B Inflows in Five Months, K33 Research Says

U.S. spot ETFs could accumulate around 1 million ETH in five months based on the size of similar ETH products globally and CME futures open interest relative to bitcoin, K33 Research said The omission of staking will not negatively impact the i...

Markets

Jun. 04, 2024

BODEN Token Up Over 10%, TREMP Gains 5% After Kraken Lists Solana PoliFi Duo

Kraken announced that PoliFi tokens BODEN and TREMP are now available on its Kraken Pro platform, making it the first U.S. exchange to list the PoliFi themed tokens. BODEN appeared to be the winner, up 10% versus 5% for TREMP. Kraken announce...

Markets

Jun. 04, 2024

Bitcoin ETFs Resume Inflow Winning Streak; BlackRock's IBIT Crosses $20B in AUM

The U.S.-traded spot bitcoin ETFs added $2.4 billion worth of bitcoin over the past month. This streak follows a period of flat to negative after an initial phase of euphoria. BlackRock's iShares Bitcoin Fund (IBIT) crosses $20 billion in asse...

Markets

Jun. 04, 2024

Bitcoin Tops $70K to Lead CoinDesk 20 Gainers: CoinDesk Indices Market Update

CoinDesk Indices ( CDI ) presents its bi-weekly market update, highlighting the performance of leaders and laggards in the benchmark CoinDesk 20 Index ( CD20 ) and the broad CoinDesk Market Index ( CMI ). The CoinDesk 20 declined 1.3% over the p...

Markets

Jun. 04, 2024

Options Traders Brace for Volatility as BNB Nears Record High

BNB is less than 10% away from its record high of $705. Options traders remain cautious with purchases of puts with strikes from $550-$650. BNB has been performing well due to high participation in Binance Launchpad and Launchpool projects. ...

Markets

Jun. 04, 2024

Bitcoin-Based Meme Coin DOG Rockets Toward $1B Market Cap

DOG market cap is approaching $1 billion following a 200% rise in the past month. It is the largest meme coin on the Bitcoin blockchain and the seventh largest overall. The rally comes after a 60% decline following its launch and the bitcoin h...

Markets

Jun. 04, 2024

Galaxy Digital Could Benefit From Improving Political Sentiment Towards Crypto in U.S.: Benchmark

Benchmark assumed coverage of Galaxy Digital with a buy rating and a C$19 price target. The digital assets platform is set to benefit from improving political sentiment towards cryptocurrencies, the broker said The approval of spot bitcoin ETF...

Markets

Jun. 04, 2024

First Mover Americas: Bitcoin Drops From $70K as Bullish Signal Strengthens

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin's pri...

Markets

Jun. 04, 2024

Bitcoin Sees Profit-Taking Around $70K Amid ‘Stubbornly Bullish’ Sentiment

Bitcoin price dipped to $69,200 amidst profit-taking and broader U.S. stock market movements. Despite negative news, sentiment remains bullish due to long-term holder conviction and anticipation of further spot ETF approvals. Bitcoin {{BTC}} ...

Markets

Jun. 03, 2024

Bitcoin Knocks on $70K Level; Bitfinex Hopeful Selling Pressure That Sparked a Correction Is Ending

Bitcoin {{BTC}} briefly topped $70,000 Monday for the first time in a week before retreating to its familiar trading range, continuing its sideways price action. The largest crypto by market capitalization recently changed hands at around $69,20...

Markets

Jun. 03, 2024

First Mover Americas: Crypto Prices Tick Upward as Meme Coin Season Receives Fresh Impetus

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin ki...

Markets

Jun. 03, 2024

GameStop Stock, Meme Tokens Surge as User ‘DeepFu*kingValue’ Returns to Reddit

Keith Gill, known for the GameStop short squeeze of 2021, posted his GME options positions on Reddit, sparking a speculative frenzy in meme tokens and related equities. Gill's social media activity has significantly influenced markets, with rec...

Markets

May. 31, 2024

Bitcoin Breaks to Low End of Trading Range, but June Data Could Be Next Catalyst

The price of bitcoin {{BTC}} has traded in an exceptionally tight trading range surrounding $68,000 in the days following the U.S. Memorial Day holiday, but declined to near the week's low in Friday morning trading hours. At 11:45 am ET, bitcoin...

Markets

May. 31, 2024

First Mover Americas: Crypto Market Flat Ahead of U.S. Inflation Data

This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Crypto prices...

Markets

May. 31, 2024

Crypto Bettors Lay 17% Odds on Donald Trump in Jail Before Election Day

Crypto punters on Polymarket give Donald Trump a 17% chance of going to jail before the November U.S. presidential election. The market for the bet has seen $900,000 in wagers from crypto users since its creation in January. Crypto punters ar...

Markets

May. 31, 2024

Bitcoin's Short Term Momentum Flips Bearish; Support Under $65K

Technical indicators suggest that bitcoin’s short-term momentum has flipped bearish. The 50-day simple moving average marks major support at $64,870. Technical indicators that gauge bitcoin's {{BTC}} price movement over the short term have fl...

Markets

May. 31, 2024

As Random Celebs Like Caitlyn Jenner Embrace Solana Meme Coins, Early Hoarders Fare Best

Niche celebrities have recently launched tokens in the crypto market using the Pump Fun application on Solana. Early buyers of these celebrity-backed tokens have made significant profits, with some tokens netting six-figure profits in a short t...

Markets

May. 30, 2024

Ripple's Brad Garlinghouse Foresees XRP, Solana, Cardano ETFs: Consensus 2024

Brad Garlinghouse predicts the inevitable approval of XRP, Solana and Cardano ETFs, despite significant regulatory hurdles. Garlinghouse criticized the SEC's unclear crypto regulations, highlighting the need for better regulatory clarity in the...

Markets

May. 30, 2024

TRUMP Token Sinks After Former U.S. President Is Found Guilty in New York

A jury finding Donald Trump guilty is more than just bad news for the former U.S. president: The announcement also smacked holders of the TRUMP meme coin. The token sank as much as 35% after the verdict. Meanwhile, Jeo Boden, a meme coin inspire...

Markets

May. 30, 2024

Ether Spot ETFs to See Much Lower Demand Than Bitcoin Versions, JPMorgan Says

Spot ether exchange-traded funds are likely to see much lower demand than the bitcoin ETFs, the bank said. JPMorgan said bitcoin had the first mover advantage. The ether funds could see inflows of as much as $3 billion this year, the report sa...

Markets

May. 30, 2024

Ether Put-Call Ratio Hits One-Year High, Hints at Bullish Bias Despite Pause in Rally

Ether's put-call open interest ratio rose to 0.61 Wednesday, Glassnode data show. The uptick signals a bullish outlook, Wintermute said. Ether’s {{ETH}} price rally has stalled since Monday. Still, a popular options market gauge continues to ...

Markets

May. 30, 2024

First Mover Americas: Crypto in the Red Ahead of Friday's U.S. Inflation Data

This article originally appeared in First Mover , CoinDesk's daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices Top Stories Bitcoin (BTC)...

Markets

May. 30, 2024

Bitcoin Traders Warn of Pullback as U.S. Inflation Data Looms; Dogecoin Leads Majors Slide

Crypto majors experienced a significant decline in the past 24 hours, with meme coins like shiba inu and dogecoin leading the drop. The market is looking toward Friday's U.S. PCE inflation data for guidance on bitcoin's direction, with some ana...