BTC rallies past $62.6K after BlackRock issues Bitcoin white paper

Bitcoins adoption trajectory will largely depend on future macroeconomic and geopolitical concerns, according to BlackRock.

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Bitcoin price struggles as bears overtake bulls in futures markets

Bitcoin must hold above the $50,000 mark until the Sept. 18 Federal Reserve meeting to avoid more downside.

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Bitcoin price loses $60K, but a maturing Wyckoff signal gives hope

The bullish outlook appears despite the ongoing Bitcoin sell-off, which is being led by the growing risks of a recession in the United States.

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Morgan Stanley Authorizes Advisors To Offer Bitcoin ETF Products, Report

Morgan Stanley, one of the largest investment banks in the United States, has announced that it will soon allow its 15,000 financial advisors to offer Bitcoin ETF (exchange-traded fund) products to eligible clients.  Interestingly, this is the first time a major Wall Street bank has given its wealth management division the green light to promote [...]

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Morgan Stanley to Offer Bitcoin ETFs Starting August 7: Report

On Friday, Morgan Stanley announced a significant shift in its financial services, becoming the first major Wall Street bank to allow its financial advisors to offer Bitcoin exchange-traded funds (ETFs) to qualified clients. This move is set to take effect on August 7, and will enable the banks 15,000 advisors to recommend two specific BTC […]

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Hong Kong Bitcoin ETFs top $250M AUM

For the Hong Kong-based spot Bitcoin ETFs to compete with their US counterparts, they will need to attract more retail and institutional investors.

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Bitcoin demand sharply declining since April CryptoQuant

The slowdown in Bitcoin demand can be attributed to a sharp decline in purchases in the United States.

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Bitcoin Down But Not Out: BTC To $700,000 Highly Probable Says Analyst

Bitcoin remains volatile at spot rates. Despite the spectacular recovery yesterday, August 1, the downtrend remains, at least for now. Specifically, looking at the candlestick arrangement in the daily chart, there could be more growth once prices break $70,000. Before then, traders are closely monitoring price action aware that there could be more losses, pushing the coin below $60,000. Amid this, some analysts are bullish in the long term, ignoring short-term price volatility. Bitcoin Remains Bullish Despite Recent Price Drops In a post on X, Willy Woo, an on-chain analyst, said that though bears might succeed in the short to medium term, unwinding gains and progress made in the first half of the year, the path of least resistance in the long term remains northward. Related Reading: Polygon Price Risks Plunge With 90 Million MATIC Tokens Selling At $0.5 As on-chain data reveals increased movement among long-term holders (LTHs), shifting coins to top exchanges could heap more pressure on prices. Even so, Woo thinks that in the years to come, Bitcoin could range between $700,000 in the lower level and as high as $24 million, assuming it finds maximum adoption. The analyst said this bullish prediction is primarily based on the bullish assumption that Bitcoin would capture anywhere between 3% and 100% of the global wealth, which stands at over $500 trillion. Woo says the lower limit, 3%, is the upper bound of the recommended exposure laid out by Fidelity for institutions seeking to invest in the world’s most valuable coin. If most institutions allocate just 3% of their portfolio to Bitcoin via derivatives as spot ETFs, the probability of the coin soaring to $700,000 will be high. On the other hand, assuming everyone chooses to move their wealth to Bitcoin, divesting from the current traditional portfolios and choosing BTC, then the coin will explode to as high as $24 million. This assumption is, even according to Woo, improbable but cannot be discounted. BTC Is Transitioning, Spot ETFs Crucial For Growth Woo, in the post on X, said at spot rates, Bitcoin is in a transition. Looking at adoption charts, the coin is moving from the early to late majority adoption. Though in the nascent stages, a successful, hitch-free evolution will be crucial in driving prices even higher. Related Reading: Why XRP Price Wont Skyrocket After Ripple-SEC Ruling: Crypto Pundit The key driver and catalyst of adoption in this vital stage will be the adoption of spot Bitcoin ETFs. Since the United States Securities and Exchange Commission (SEC) approved this derivative product, one analyst has picked a direct correlation between bullish swings and inflows into spot ETFs. For this reason, how institutions perceive BTC and allocate funds will be critical. Feature image from Canva, chart from TradingView

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Bitcoin ETFs On A Buying Spree, Scoop Up Nearly 300,000 BTC Since January

Regulated spot Bitcoin ETFs (exchange-traded funds) in the United States have seen a resurgence in inflows following significant selling pressure over the past two months that sent the largest cryptocurrency on the market to a 6-month low of $53,500 on July 5. Bitcoin ETFs And Institutions Now Control 9% Of Total Supply Data from analytics [...]

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Wall Street Titans Boost Crypto Stakes: US Bitcoin ETFs Garner $2.4B In Q2 Inflows

The crypto market continues to be influenced primarily by broader macroeconomic conditions, with the latest US Consumer Price Index (CPI) report providing a glimmer of optimism for risk assets, including cryptocurrencies. Crypto Awaits Fed’s Move According to a recent Coinbase report, the slightly softer-than-expected July CPI print of 2.9% year-over-year – the lowest level in three years – has “calmed market concerns and reinforced expectations of impending Fed rate cuts at the September 17-18 Federal Open Market Committee (FOMC). Per the report, this has been viewed as positive news for risk sentiment, as it may help dispel fears of a potential US recession, which Coinbase believes is more important than the total size of Fed cuts this year. Related Reading: MATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%? However, the crypto market has remained range-bound, with Bitcoin (BTC) unable to break through the $61,000 level. Sentiment has slowed due to a lack of crypto-specific catalysts, and perpetual futures funding rates in BTC have turned negative this week, potentially indicating lower trader activity. In the Ethereum (ETH) ecosystem, gas prices have slumped, which could signal a decline in network activity. On a more positive note, spot Ethereum ETFs in the US have seen inflows this week. ETF Inflows Signal Strong Institutional Interest  The report also highlighted the growing institutional adoption of crypto, as evidenced by the latest 13-F filings for US spot Bitcoin ETFs. The data, which captures the state of institutional ownership as of June 30, 2024, reveals notable new holders such as Goldman Sachs ($412 million) and Morgan Stanley ($188 million). The ETF complex saw net inflows of $2.4 billion during this period, despite a drop in total assets under management (AUM) from $59.3 billion to $51.8 billion, due to Bitcoin’s price decline from $70,700 to $60,300. Nonetheless, Coinbase analysts believe the continued ETF inflows during Bitcoin’s underperformance may be a “promising indicator of sustained interest in crypto from the new pools of capital that the ETFs give access to.”  They also expect the proportion of investment advisor holdings to increase as more brokerage houses complete their due diligence on these funds. Related Reading: Silk Road Bitcoin Are Almost Certainly Sold By US Gov, Claims Lawyer Looking ahead, the report notes that the stage is set for market dynamics to be tested at the upcoming Jackson Hole Economic Symposium, a pivotal event that could sway sentiments and shape the trajectory of crypto markets.  While short-term fluctuations and market slowdowns may dampen immediate enthusiasm, Coinbase highlights the underlying currents of institutional interest and the evolving landscape of ETF inflows that paint a promising picture for crypto prices for the rest of the year. At the time of writing, BTC is trading at $59,679, regaining the top of the range seen in recent days between $57,000 and $60,000.  Featured image from DALL-E, chart from TradingView.com

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Crypto Crime Drops, But Ransomware & Heists Surge in 2024

In 2024, the crypto landscape has seen significant shifts in illicit activity, as revealed in a recent report by Chainalysis. In contrast, the overall volume of illegal transactions has seen nearly a 20% decline year-to-date from $20.9 billion to $16.7 billion certain types of crypto-related crimes surged during this time, especially those involving stolen funds […]

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Bitcoin sell pressure may break $56K support as options expiry looms

The Bitcoin price could experience significant downside volatility unless it manages to recover above $60,000 before the options expire on Aug. 16.

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Bitwise CIO Reveals Three Super Bullish Signals From Bitcoin ETFs

Despite the muted performance of Bitcoin in recent months, the 13-F filings for the spot exchange-traded funds (ETFs) paint a bullish picture for the BTC price. Bitwise Chief Investment Officer (CIO) Matt Hougan has shared a recap of the three most interesting takeaways from the Q2 filings via X. His findings underscore a growing and sustained institutional interest in Bitcoin, pointing towards an bullish outlook. #1 Increased Institutional Bitcoin Adoption Hougan highlights an impressive rise in institutional engagement with Bitcoin ETFs during the second quarter of the year. He reported, “I count 1,924 holder<>ETF pairs across all 10 ETFs, up from 1,479 in Q1. That’s a 30% increase; not bad considering prices fell in Q2.” This data suggests that institutional investors are increasingly viewing Bitcoin as a viable asset class, even amidst price declines, indicating a long-term commitment rather than speculative short-term plays. Related Reading: Unveiling The Strategic Advantages Of A Bitcoin Reserve For The US Economy Hougan concludes, Of course, this does not mean 1,924 institutions own bitcoin ETFs; some investors report positions in multiple ETFs. But that “double-counting” aspect is equally true of the Q1 and Q2 numbers, so the percentage increase is still telling. My takeaway: Institutional investors continued to adopt bitcoin ETFs in Q2. The trend is intact. #2 Institutional Investors Are HODLers The holding patterns within these filings reveal that a substantial portion of institutional investors remained committed to their Bitcoin ETF holdings, reflecting a resilient stance against the market’s volatility. “Among Q1 filers, 44% increased their position in bitcoin ETFs in Q2, 22% held steady, 21% decreased their position, and 13% exited,” said Hougan. These figures are particularly telling because they demonstrate that more than two-thirds of the institutions either maintained or increased their exposure to Bitcoin ETFs during a period of significant price fluctuations. Hougan interprets this data as a sign that institutional investors possess “diamond hands,” a colloquial term used within the community to describe holders who do not sell their holdings despite pressure or market downturns. Related Reading: Bitcoin Price Set To Surge With $2.5 Billion Stablecoin Inflows: Research Firm Hougan added, If you thought institutional investors would panic at the first sign of volatility, the data suggest otherwise. They’re pretty steady. #3 Broad Investor Base The analysis by Hougan also highlights the diverse array of investors participating in Bitcoin ETFs. Major hedge funds like Millennium, Schonfeld, Boothbay, and Capula are prominently featured among the top holders. However, the presence of advisors, family offices, and other institutional investors such as the State of Wisconsin is particularly notable. “ETFs are a big tent that attract a wide variety of investors. It’s kind of great to see Millennium nestled up against the State of Wisconsin in these ETF filings. Over time, I’d like to see wealth managers and pensions account for a growing share,” Hougan remarked. Yesterday it became public that the Wisconsin Pension Fund has increased its Bitcoin ETF holdings. In an SEC filing, the State of Wisconsin Investment Board reported owning 2,898,051 shares of the iShares Bitcoin Trust as of June 30 (worth $98.9 million as of that date). This is an increase from the 2,450,400 shares Wisconsin had previously reported in May. At press time, BTC traded at $58,035. Featured image created with DALL.E, chart from TradingView.com

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Key Bitcoin bull signal flashes for first time in nearly 2 years, hinting at 2x price surge

The Bitcoin price could increase by over two-fold based on a key bull signal historically correlated with price rallies.

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Bitcoin Traders Cautious Despite Massive Stablecoin Inflow: Whats Next For BTC?

Bitcoin buyers might be upbeat after the uptick on August 8. While traders are waiting for a conclusive close above $63,000, confirming bulls of the second half of last week, on-chain data points to risk and traders staying on the sidelines. Traders Cautious: Will The Bitcoin Consolidation Continue? Taking to X, one on-chain analyst said. [...]

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Analyst Says Solana Will Go Ballistic In The Mania-Like Stage, Targets $600

Solana is one of the top performers in the top 10, looking at the performance over the last year of trading. After plunging to around $8 after the collapse of FTX, prices went on to recover steadily throughout 2023 before rising to as high as $210 in March 2024. Is SOL Ready For The “Mania-Like [...]

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Bitcoin Trending Below Crucial Support: Do BTC Bulls Have What It Takes?

Based on the formation in the daily chart, Bitcoin is at a critical point, price-wise. As the battle between bulls and bears progresses, it is clear that sellers have the upper hand for now despite the recent price stability. BTC Prices At A Crucial Price Level: Will Bulls Take Over? As BTC bulls attempt to reverse losses posted last week, one analyst, citing technical candlestick formation and the reaction at the 200-day moving average, thinks how prices react for now will be consequential in the coming days. In a post on X, the analyst noted that the coin dipped and closed below the 200-day moving average following last week’s losses. This formation was crucial. Over the months, this dynamic line had acted as critical support, anchoring buyers throughout the last bull cycle from October through mid-March. The rally was sustained, and though the level was not retested until late June, when prices were weak across the board, the break last week was decisive. Related Reading: If History Repeats, Bitcoin Price Could Crash 33% Again: Heres Why While bearish, the analyst acknowledged that last week’s break was clear. However, as it is, there is hope for bears because there has been no confirming bear bar. For this to happen, prices must break below $56,500 and sink below $53,500, marking last week’s low. When this happens, it will be official that bears are back, and sellers will likely continue pushing lower in a bear trend continuation formation. If Bitcoin is to turn around, it is imperative that prices reject last week’s losses and break higher, closing above the 200-day moving average. This recovery will be the bullish signal that may mark the start of a leg up, resuming the uptrend of Q1 2024. For now, traders are watching the psychological line at $60,000 and, ideally, the close above $66,000. In that event, Bitcoin might find the momentum to retest $72,000–an important liquidation level. Eyes On Spot Bitcoin ETF Inflows Even amid the optimism, traders are closely watching inflows to spot Bitcoin exchange-traded funds (ETFs), especially in light of the sustained dump by the German government. The sell-off has been heaping more pressure on BTC, capping gains, and deflating the upside momentum. If sellers are persistent and mirror recent trends, there could be more blood, and spot Bitcoin ETF issuers might register outflows. Related Reading: Can Solana Hit $160? SOLs Resilience Sparks Rally Optimism In the past few weeks, especially in June, when prices fell, BlackRock, Fidelity, Grayscale, and other top issuers posted outflows, accelerating the downtrend. Feature image from DALLE, chart from TradingView

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Bitcoin Crashed Below $55,000 But Traders Are Not Fearful, Why?

As Bitcoin faces strong headwinds, breaching two critical support levels at $60,000 and $56,500 in quick succession, it may, on the surface, appear that fear is gripping the market. There are reasons to be afraid, especially for coin holders leveraging BTC in decentralized finance (DeFi) protocols, looking to take out loans using the asset as [...]

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Over 75% of Bitcoin short-term holders in profit as BTC breaches $67K

Bitcoin price is finally seeing some relief, but it faces significant resistance at the $68,000 mark, which would trigger over $700 million worth of short liquidations.

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Bitcoin ETFs Added To Michigan State Pension Fund With $6.6 Million Allocation

The approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC) in January 2023 has opened the floodgates for significant institutional investment in the newly approved market. However, US states are also rushing to capitalize on the success of these ETFs by allocating a portion of their pension funds to reap profits and diversify [...]

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