Former President Donald Trump has recently made headlines by expressing strong support for Bitcoin and cryptocurrencies, a stark shift from his previous skepticism towards digital assets. This unexpected change in stance has caught the attention of crypto enthusiasts and investors alike, sparking speculations about the potential implications for Bitcoin and other virtual currencies as the
Bitcoin
The recent performance of Ethereum has closely followed that of Bitcoin, with both experiencing a downtrend in prices. However, upon closer inspection, it becomes apparent that Ethereum may have more bearish fundamentals compared to Bitcoin. This has led crypto analysts to speculate that the second-largest cryptocurrency by market cap could see further declines in the
Monero (XMR) has recently seen a surge in discussions on social media platforms following the announcement of LocalMonero’s closure. This increase in attention comes at a time when governments around the world are making efforts to regulate privacy-focused cryptocurrencies like Monero. The closure of LocalMonero, a peer-to-peer exchange based on Monero, has sparked conversations about
The movement and accumulation from crypto whales have long been considered catalysts for Bitcoin price increases. However, recent on-chain data has shown a decline in whale accumulation volumes during each buying cycle over the past month. This decrease in whale accumulation could be a cause for concern for investors, especially as the price of Bitcoin
When it comes to analyzing the buying opportunities in the cryptocurrency market, analytics firm Santiment has pointed out that Cardano (ADA) is currently showing a slightly better opportunity compared to other top coins. Santiment recently discussed the performance of the top assets in the cryptocurrency sector based on the Relative Strength Index (RSI). The RSI
The recent insights provided by Benjamin Cowen shed light on the complex relationship between Ethereum and Bitcoin pricing and the potential for further downside risk. According to Cowen, the ETH/BTC pair is currently experiencing a downtrend, with historical data showing a steep decline in ETHUSD of around 70% following previous declines in the pair. This
The recent price action of Bitcoin has left institutional investors with a bearish sentiment, leading to a wave of massive outflows from Bitcoin investment products. Data revealed by CoinShares in a blog post indicated that Bitcoin investment funds experienced an outflow of $284 million last week. The majority of these outflows were attributed to the
Digital asset investment products recorded outflows for the fourth consecutive week, totaling a significant $251 million. The latest data indicates the first instance of “measurable outflows” from newly issued ETFs in the US, with a total of $156 million in outflows noted last week. This trend is indicative of investor sentiment shifting away from digital
Recently, Hong Kong’s Bitcoin ETFs faced a setback after experiencing their first cumulative daily Bitcoin outflows since their launch on April 30. The China Asset Management Bitcoin ETF saw an outflow of $4.9 million, marking a significant change in the investment landscape for these products. Despite this setback, the other Hong Kong-based ETFs did not
Coinbase’s chief legal officer, Paul Grewal, has brought the issue of cryptocurrencies’ legal status to the forefront by calling out US SEC Chair Gary Gensler for allegedly misleading the market. Grewal argues that the SEC chair’s claims that many digital assets are securities are false, citing previous admissions by the SEC’s own lawyers that cryptocurrencies