Bitcoin Needs Stronger Spot Demand to Reach and Hold $70K
Bitcoin is demonstrating strength, holding steady around the $68,000 mark and edging towards $69,000. This week’s trading session opened with a move toward all-time highs, as Bitcoin touched $69,000. However, traders are encountering resistance in the $69,000 to $70,000 range, a zone consistently marked by sell walls. Futures Activity Drives
Bitcoin Price Stagnates Amid US Election Uncertainty
Bitcoin’s price remains stuck around $68,952, trading within a narrowing range as the US Presidential Election on November 5 looms closer. The cryptocurrency has struggled to maintain momentum above $69,000 throughout October, with each breakout attempt resulting in a pullback to a rising support zone between $64,000 and $67,000. Tight
Retail Investors Drive Demand for Bitcoin ETFs, Binance Report Shows
In a recent report, Binance revealed that retail investors have dominated demand for spot Bitcoin exchange-traded funds (ETFs), accounting for approximately 80% of total assets under management (AUM). Since launching in January 2024, spot Bitcoin ETFs have attracted substantial inflows, driven primarily by individual investors rather than institutions. Retail Demand
Hacker Returns $19.3 Million from Bitfinex Wallet Back to US Government
A hacker who accessed approximately $20 million in seized funds from the 2016 Bitfinex hack returned $19.3 million to the US government wallet within 24 hours. The breach, which occurred on October 24, initially saw a wallet under US government control drained of crypto assets. Security firm CertiK reports that
Bitcoin Whale Accumulation Hits Record High Amid V-Shaped Bounce
Despite a recent dip in Bitcoin prices, whale investors have continued to accumulate the cryptocurrency, pushing their total holdings to an all-time high. This accumulation phase could signal new highs for Bitcoin in the medium and long term, according to industry experts. Whale Holdings Reach 670K BTC Bitcoin’s price swiftly
Polymarket Identifies Major Pro-Trump Trader in US Election Betting
Polymarket, a popular prediction platform, has revealed that former President Donald Trump is currently favored to win all six US swing states in the upcoming 2024 election, according to their latest odds. The odds have been heavily skewed in Trump’s favor since October, leading to concerns about potential market manipulation,
Japan Slow to Approve Crypto ETFs Amid Strict Taxes and Regulations
Japan’s regulators remain hesitant to approve cryptocurrency-based exchange-traded funds (ETFs), despite the increasing global acceptance of these financial products. While markets in the United States and Hong Kong have moved forward with spot Bitcoin and Ether ETFs, Japan’s stringent tax policies and regulatory caution continue to create barriers to wider
Bitcoin Price Faces Potential Correction After Failing to Breach $70,000
Bitcoin’s recent rally has been cut short, with its price dropping over 3.7% in the last three days, following a 12-week high of $69,487 on 21st October. Several key indicators suggest that a deeper correction may be on the horizon as the market shows signs of overheating. High Percentage of
Pump.fun Teases New Token and Lucrative Solana Airdrop Amid Record-Breaking Week
Pump.fun, a meme coin launchpad on the Solana network, has teased exciting new developments after celebrating its most successful week to date. The platform, which has launched over 2.5 million Solana tokens since its January debut, hinted at a token launch and a potentially lucrative airdrop during a Twitter Spaces
FCA Defends Tough Stance on Crypto Regulations
The UK’s Financial Conduct Authority (FCA) has defended its rigorous approach to regulating the crypto industry, countering claims that its stringent standards are stifling innovation. In an October 21 statement, Val Smith, head of payments and digital assets at the FCA, outlined the agency’s reasoning behind its tough stance, insisting
