Over 600 firms reveal billions in combined investment in Bitcoin ETFs

Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.

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History Favors Bitcoin Bulls Despite Crypto Hedge Funds Increasing Shorts

Bitcoin may be dripping lower at spot rates. Still, one analyst is unfazed, expecting the coin to reverse recent losses and snap up firmly before peaking in December 2024. At spot rates, BTC is down roughly 11% from 2024 peaks and struggling to generate sufficient buying pressure, looking at the formation in the daily chart. Will History Support Bitcoin And Rally To Fresh Highs? Taking to X, the analyst highlights historical price patterns using the 2-week Fisher Transform indicator, a tool for picking out potential reversal zones like double tops or bottoms. Though the technical indicator lags, it has accurately picked out peaks in the past.  Related Reading: Dogecoin Deflates: Whats Behind The 20% Price Drop Amidst Memecoin Mania? In 2021, when Bitcoin soared to over $69,000, the Fisher Transfer indicator printed a signal, highlighting potential peaks. In the coming weeks following this signal, prices crashed.  By the end of 2022, Bitcoin had fallen to as low as $16,000, accelerated by the collapse of FTX and the bankruptcy of several other popular crypto hedge funds, including Three Arrow Capital (3AC). The analyst also emphasizes the importance of the indicator in differentiating between a double top, mirroring 2017 and 2021, and a potential single peak later this year.  Presently, the trader said prices are approaching 2017 levels. Then, prices created what the analyst described as a “more subtle initial rise” before peaking six months later at over $20,000.  If this leads, and the indicator “pauses” where it is, Bitcoin will likely record a “single top.” However, only time will tell where this top will be at. Hedge Funds Were Selling At Tops? This prediction comes amid significant bearish bets by leveraged hedge funds. Data from the United States Commodities Futures Trading Commission (CFTC) reveals that these funds held record “short” positions in Bitcoin futures contracts by last week.  Observers note this was the largest short position since 2017, at over 16,000 contracts. By shorting, they expected prices to dump, which is precisely what’s happening at spot rates.  Related Reading: Bitcoin Short-Term Holders Go On 1.2 Million BTC Buying Spree, Is Retail Finally Here? However, even as hedge funds short, another analyst, responding to the trend, said the futures premium remained high. This is a development that some of these crypto hedge funds are taking advantage of. The number of shorts could increase in the days ahead as United States Federal Reserve officials appeared to be hawkish and upbeat economic data started pouring in. Being a data-driven central bank, the Federal Reserve might not slash rates as fast as initially projected. Feature image from DALLE, chart from TradingView

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Goldman Sachs Says Many of Our Largest Clients Getting Active in Crypto

Many of Goldman Sachs’ largest clients are ramping up their activity in the crypto space following spot bitcoin exchange-traded fund (ETF) approvals and BTC price recovery. “The recent ETF approval has triggered a resurgence of interest and activities from our clients,” said Goldman Sachs’ Asia Pacific head of digital assets. Goldman Sachs’ Clients Getting Active [...]

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Traditional hedge funds consider regulatory uncertainty biggest barrier to entry in crypto

There have never been more traditional hedge funds investing in crypto, but around two-thirds are still hesitant to enter the market, according to PwC’s 2022 Global Crypto Hedge Fund Report.

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“Tether Is Proven with Fire” CTO Responds As Hedge Funds Reportedly Work to Short USDT

While hedge funds are shortening USDT, Tether's CTO claims full transparency.

Continue reading “Tether Is Proven with Fire” CTO Responds As Hedge Funds Reportedly Work to Short USDT at DailyCoin.com.

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Bitcoin Bullish on Crypto Hedge Funds

Since intra-period Bitcoin returns peaked at 131% last year. 70 crypto hedge funds used a market-neutral investing strategy. According to

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Crypto hedge funds are bullish on Bitcoin and knee-deep in DeFi

The volatility that has become synonymous with the crypto industry hasn’t deterred institutions from participating in it, as hedge funds investing in crypto are at an all-time high, according to PwC’s 2022 Global Crypto Hedge Fund Report.

The post Crypto hedge funds are bullish on Bitcoin and knee-deep in DeFi appeared first on CryptoSlate.

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Institutional Investors Turning Bullish on Crypto: Survey Suggests

A new survey has highlighted the increasing bullish stance of institutional investors in the ecosystem. (Read More)

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Crypto Hedge Fund Fraudster Sentenced to Seven Years in Prison

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Tyr Capital Faces Client Dispute over Exposure to FTX's Bankruptcy

The crypto hedge fund Tyr Capital is embroiled in a contentiousdispute with one of its clients regarding its exposure to the bankrupt digitalassets exchange FTX.

Tyr Capital Faces $22 Million Claim

Tyr Capital stands accused of "criminal"mismanagement by one of its clients, TGT, prompting a Swiss prosecutor to raidTyr's offices. TGT is now seeking to close its account with Tyr and recover the remaining assets, which includes a substantial claim of $22 million against FTX, asreported by the Financial Times today (Tuesday).

The collapse of FTX, once hailed as a leading player in thecrypto industry, traces back to 2022 following a report by CoinDesk.The report detailed how FTX and its sister company, Alameda Research, allegedlymanipulated reserves using their native FTT token. The fallout led to thedemise of Sam Bankman-Fried's multi-billion dollar empire and cast a pall overthe crypto market for months.

TGT alleged that it had voiced concerns about FTX betweenNovember 7, 2022, and November 10, 2022. However, Tyr Capital, led by formerDeutsche Bank executive Edouard Hindi, only withdrew assets from FTX on the daythe exchange filed for bankruptcy, according to a court filing cited in thereport.

Tyr Capital Denies Allegations of Mismanagement

Moreover, TGT, which manages investments from variouscompanies including the crypto platform Yield, claims that Tyr Capital disregardedan internal risk requirement limiting exposure to any single party to 15% ofassets. Tyr Capital has refuted these allegations, as outlined in the FinancialTimes report. The collapse of FTX has sent shockwavesthrough the crypto industry, impacting numerous companies directly orindirectly exposed to the exchange.

Swiss crypto hedge fund Tyr Capital is battling its client, TGT, over its dealings with bankrupt crypto exchange FTX, according to a report. By @parikshitm899.https://t.co/BMLx0fNt8D

FTX Hacked: Three Individuals Charged in $400 MillionSIM-Swap Attack

The USfederal prosecutors have charged three individuals for their involvement ina $400 million hack of crypto exchange FTX, utilizing the SIM-swap technique,as reported by Finance Magnates.

The perpetrators, Robert Powell, Carter Rohn, and EmilyHernandez, conducted SIM-swap attacks between March 2021 and April 2023,stealing identities of 50 victims. SIM-swapping involved seizing control ofvictims' phone numbers to access online accounts. Hernandez, impersonating anFTX employee, accessed FTX wallets on November 11, 2022, siphoning $400 millionin cryptocurrencies. Some funds were laundered through Kraken, while othersmoved across various blockchains.

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Crypto Hedge Funds Thrive Despite Market Volatility, PwC Report Reveals

The latest PwC 5th Annual Global Crypto Hedge Fund Report, released in July 2023, unveils a thriving crypto hedge fund industry, demonstrating resilience and growth despite the inherent market volatility. (Read More)

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Hong Kong proposes tax breaks to attract crypto hedge funds, investors

Hong Kongs move to exempt crypto gains from taxes targets hedge funds and family offices in a bid to boost its competitiveness.

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MHC Digital, Circle collaborate to expand USDC access in APAC region

Australian pension funds can expect a pitch soon for saving money on fees with a stablecoin.

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Crypto Funds Vs Bitcoin Holders: Who Was The Better Performer In H1 2023

A new report has shown investors who held Bitcoin actually outperformed most cryptocurrency funds in the first half of 2023. This is because, between January and June, Bitcoin gained over 80% in value.  Crypto funds, on the other hand, on the other hand, returned only about 15.2% profits on average. While still a positive return, [...]

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SEC steps back from defining digital assets in new hedge fund rules

The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing to do so some nine months ago. On May 3 the Securities and Exchange Commission (SEC) published amendments to Form PF — a form [...]

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Why some hedge funds are shorting U.S. banks

The U.S. banking market recently underwent its annual stress test conducted by the Federal Reserve. This exercise, designed to evaluate the resilience of banks in the face of economic downturns, revealed a mixed bag of results that could have far-reaching implications for the cryptocurrency market, particularly Bitcoin. A stress test is a simulation used to […]

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