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Bitcoin [BTC], the world’s largest crypto , is currently on an intriguing journey. According to the analyst Michaël van de Poppe, the king coin is expected to see a notable rise. His Analysis reveals that Bitcoin is expected to maintain a price range of $45,000 to $50,000 as it enters a new phase. Bitcoin’s halving is a prominent event that is slated to occur in April 2024. It's expected to see #Bitcoin reach $45,000-50,000 pre-halving, after which we'll have a heavy correction back to $32,000-35,000 and consolidate from there. Cycles repeat themselves and #Bitcoin has been suffering a lot the past two years. — Michaël van de Poppe (@CryptoMichNL) November 9, 2023 The analyst also notes that the asset could also witness a correction. Bitcoin following its surge is expected to dip back down to the $32,000 to $35,000 zone. This forecast coincides with Bitcoin bidding farewell to its period of accumulation. It is reportedly venturing into the initi...

October marks a significant uptick in cryptocurrency trading , with volume s hitting a seven- month peak driven by major digital asset rallies and ETF speculation. In a recent update from the cryptocurrency market analytics firm CCData, a notable surge in trading volumes on centralized digital asset platforms was observed for October. This marks a significant change in the trend after a period of reduced trading activity, with the reported volume reaching $632 billion. The increase is a striking 87.2% jump from September’s figures. The analysis from CCData highlighted that the volume of spot trading in October scaled heights untouched since March. Centralized exchanges haven’t witnessed such an amount of monthly spot trading since March 2023, with the leap from the previous month being the most pronounced since January 2021. You might also like: U.S. SEC reviewing BlackRock Bitcoin ETF application; Polkadot, Cosmos, and new coin may soar on approval Data fr...

Federal law enforcement has significantly impacted the realm of crypto crime. U.S. Attorney Philip R. Sellinger recently disclosed the confiscation of $54 million worth of digital currencies. This was from the leader of a notorious drug ring in New Jersey, Christopher Castelluzzo. This revelation unveils the complex network of crypto transactions intertwined with the unlawful actions of Castelluzzo and his co-conspirators. The digital assets totaling $54 million were detected within wallets linked with Castelluzzo, who orchestrated a drug ring operational between 2010 and 2015. These funds were determined to be the profits generated from Castelluzzo’s illicit activities. This involved mail-order cocaine and designer DRUGS during that period. These operations, identified as ‘Skin Deep’, took place on darknet forums, with Bitcoin serving as the primary method of payment. Castelluzzo subsequently converted his Bitcoin holdings into other crypto , including Ethereum (...

During a panel at the 2019 MIT Bitcoin Expo, Gensler called out the securities regulator for its ‘inconsistent’ approach to spot Bitcoin ETF approvals. Gary Gensler once criticized the United States securities regulator for its “ inconsistent ” approach to spot Bitcoin (BTC) products, according to a resurfaced video of Gensler from 2019. The video clip, which has recently made the rounds again on social media, shows the pre-SEC Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo in a fireside chat with Securities and Exchange Commission (SEC) commissioner Hester Peirce. “Bitcoin futures, and I think Ethereum futures and so forth, will exist and Bitcoin ETFs have not and that feels a little inconsistent to me [...]It feels a little inconsistent ,” Gensler said. “Even though the laws aren’t exactly the same, they’re quite similar,” he added. Meanwhile, on X (Twitter), the crypto community couldn’t help but highlight the contrast with Gensler’s views toward spot Bitco...

Roundhill Financial has submitted a proposal to create a Bitcoin Covered Call ETF in the wake of the anticipated approval of Bitcoin spot ETFs by the SEC. New York-based investment advisor Roundhill Financial has reportedly moved in anticipation of the Securities and Exchange Commission (SEC) approving spot Bitcoin exchange-traded funds (ETFs). It forwarded a proposal to create a Bitcoin Covered Call ETF. According to Eric Balchunas, a senior ETF analyst with Bloomberg, Roundhill’s ETF proposal will be a fusion of a Bitcoin (BTC) futures ETF with additional call and put options to generate income. Roundhill just filed for a Bitcoin Covered Call ETF, which will hold a bitcoin futures ETF and then write call and put options for income pic.twitter.com/0yqsAOXqX5 — Eric Balchunas (@EricBalchunas) October 27, 2023 The move marks Roundhill’s continued interest in crypto-related offerings, evident from their previous filings for an Ethereum (ETH) futures ETF alongside VanEck...

Historic price fractal, strong technicals and Bitcoin ETF approval euphoria could keep BTC prices elevated for the rest of 2023. Bitcoin (BTC) is up over 70% so far in 2023, helped by a banking crisis and hopes about a spot BTC exchange-traded fund (ETF) approval in the United States. BTC/USD daily price chart. Source: TradingView So, will Bitcoin price continue to climb for the rest of 2023? Cointelegraph takes a look at its chances and possible BTC price targets. Related: BTC price models hint at $130K target after 2024 Bitcoin halving 2020 Bitcoin price fractal eyes $50K Bitcoin’s ongoing market trend looks very similar to its price action during the 2017 to 2020 period. Therefore, it can repeat a key breakout moment (the greened area) for a decisive bull run, argues popular BTC analyst Stockmoney Lizards. BTC/USD price performance comparison between 2020 and 2023. Source: TradingView/Stockmoney Lizards The 2020 breakout preceded a Bitcoin bull run to its record high of $69,000 i...

Bloomberg analysts Eric Balchunas and James Seyffart predict that a spot Bitcoin exchange-traded fund (ETF) has a 90% chance of approval by January 2024. In a note sent yesterday, Balchunas and Seyffart explain that there is an ongoing, constructive discussion between the SEC, Ark, and 21Shares. The latter two have pending applications for spot bitcoin ETFs. JUST IN: Spot #Bitcoin ETFs now have a 90% chance of being approved, according to Bloomberg analysts. — Watcher.Guru (@WatcherGuru) October 13, 2023 The communication between Ark and the SEC is promising. It’s the first reported conversation between the US regulator and an asset manager regarding Bitcoin ETF. The Bloomberg analysts say that five pages of text hold new changes and dialogue in a back-and-forth between the SEC and Ark. According to the analysts, this practice is standard practice for new launches, but “a first” for Spot Bitcoin. I've gotten a lot of questions regarding my cur...

According to blockchain analytics firm Elliptic, the anonymous FTX exploiter has used THORSwap to convert ETH to BTC, which is traceable on-chain. Decentralized exchange (DEX) THORSwap has resumed operations after briefly going into maintenance mode due to detecting illicit funds on its platform. THORSwap took to X (formerly Twitter) on Oct. 12 to announce that the platform is back online . The platform asked users to resume their regularly scheduled swapping of over 5,500 assets across 10 blockchains, right from their own self-custody wallet. The protocol originally halted swaps on its platform on Oct. 6 as an immediate measure to counter the potential movement of illicit funds. THORSwap acknowledged that its DEX platform encountered illicit use, deciding to pause to find a permanent solution to the misuse. According to the latest announcement, THORSwap hasn’t applied any big changes on its platform other than the “shiny new terms of service.” Updated on Oct. 11, THORSwap’s new ter...

In the past week, six futures-based Ethereum ETFs commenced trading on U.S. markets, securing regulatory approval from the SEC earlier than anticipated. However, these ETFs failed to generate significant trading volumes or provide a notable boost to the cryptocurrency markets. An underwhelming response Kaiko reports that of the six ETFs, the two with the highest trade volume, VanEck’s EFUT and ProShares EETH, experienced an average daily trading volume of only $500,000 during their first week of trading. To put this in context, the first Bitcoin futures ETF, ProShares Bitcoin Strategy (BITO), managed to amass over $1 billion in trade volume on its initial trading day. Since the Merge, #ETH has underperformed #BTC in terms of both price and volume. Our latest research breaks down the trend: https://t.co/C85zfASkHn pic.twitter.com/aqiyqeKeEN — Kaiko (@KaikoData) October 10, 2023 However, the report attributes ETH’s underperformance to the impact of the current bear ma...

Bitcoin is consolidating at the top of its range and this is inspiring traders' confidence in a variety of altcoins. United States 10-year Treasury yields soared above 4.8% on Oct. 3, their highest level since 2007. DoubleLine Capital CEO Jeffrey Gundlach said in a post on X (formerly Twitter) that the spread between the 2-year and 10-year Treasury yields has narrowed from 109 basis points a few months ago to 35 basis points. He cautioned that this “should put everyone on recession warning.” Arthur Hayes, former CEO of crypto exchange BitMEX, warned in a recent X thread that the government will have to print money to save the bond market as a faster bear steepener — a condition where long-term interest rates rise more quickly than short-term rates — will cause firms to collapse. Some investors believe that this could trigger a cryptocurrency bull market. Daily cryptocurrency market performance. Source: Coin360 It also looks like the institutional investors have started to warm up ...

Mike McGlone, the Chief Commodity Strategist at Bloomberg, expects Bitcoin (BTC) to continue shedding value in 2023. In fact, he believes that the apex crypto could even hit a low of $10,000. As per McGlone’s estimates, BTC’s liquidity is likely to remain negative during Q4 2023. As a result, this could bear negative price implications. McGlone shared his forecast on X (formerly Twitter) and said that “Declining Bitcoin has preceded Fed pivots.” Declining Bitcoin Has Preceded #Fed Pivots – The bottom line for #Bitcoin at the start of 4Q may be that liquidity remains negative, with price implications. Coming of age in a zero interest-rate world, the #crypto hangover could be enduring as global rates continue to rise,… pic.twitter.com/Nrn8lMaYzo — Mike McGlone (@mikemcglone11) October 3, 2023 Also Read: Top 2 Cryptocurrencies To Watch in October 2023 Since January 2023, the original crypto has made gains of over 65%. McGlone takes ...

Marathon Digital, a prominent player in the realm of Bitcoin mining, has acknowledged that it inadvertently mined an invalid Bitcoin block as part of an “experimental” endeavor aimed at refining the company’s operational strategies. In a post dated September 27th, Marathon revealed that a minor fraction of the company’s hash rate is allocated to these experiments, emphatically clarifying that their intention was never to tamper with the integrity of the Bitcoin network. Marathon underscored, “This experiment in no way aimed to modify Bitcoin Core in any manner,” emphasizing their swift rectification of the error as soon as the invalid block was detected. Crucially, it’s important to note that the bug responsible for this occurrence originated within the firm’s internal development environment and had no association with Marathon’s Bitcoin production pool or Bitcoin Core—the primary software interface for connecting to the Bitcoin ...

Concerns over the U.S. dollar's impact on Bitcoin may be overstated by investors, particularly in the longer term. The Dollar Strength Index (DXY) achieved its highest level in nearly 10 months on Sep. 22, indicating growing confidence in the U.S. dollar compared to other fiat currencies like the British pound, euro, Japanese yen, and Swiss franc. DXY "golden cross" confir Moreover, investors are concerned that this surge in demand for the U.S. dollar might pose challenges for Bitcoin (BTC) and cryptocurrencies, although these concerns are not necessarily interconnected. U.S. Dollar Index (DXY). Source: TradingView The DXY index confirmed a golden cross pattern when the 50-day moving average surpassed the longer 200-day moving average, a signal often seen as a precursor to a bull market by technical analysts. Impacts of the recession and inflation risks Despite some investors believing that historical trends are determined solely by price patterns, it's important to...

BTC price strength marches on despite the curveball CPI print and FTX liquidation go-ahead, and Bitcoin traders are hopeful for long opportunities. Bitcoin (BTC) hit new September highs after the Sep. 14 daily close as markets digested macroeconomic and crypto industry news. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin market "feels different" Data from Cointelegraph Markets Pro and TradingView tracked overnight BTC price highs of $26,535 on Bitstamp. The largest cryptocurrency had shaken off higher-than-expected United States Consumer Price Index (CPI) the day prior, maintaining $26,000. Subsequent confirmation that defunct exchange FTX had received legal permission to liquidate its remaining assets likewise failed to dent Bitcoin’s comparatively solid intraday performance. At the time of writing, BTC/USD traded at near $26,300, still up 5.5% versus its September lows. “Coming up to the range highs and once e flip these levels we can look to finally get into a...

The SEC is delaying a decision on multiple Spot Bitcoin ETF applications, including Valkyrie, WisdomTree, and Invesco. The US sec urities regulator was expected to delay a decision on most of the pending Bitcoin ETF applications after a US court overturned the SEC blocking Grayscale’s application earlier this week. JUST IN: 🇺🇸 SEC delays Valkyrie, WisdomTree, and Invesco Spot #Bitcoin ETF applications. — Watcher.Guru (@WatcherGuru) August 31, 2023 The SEC has yet to allow any Spot Bitcoin ETF to come to market. The filings say it would delay its ruling on the proposals by at least another 45 days. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” documents said in response to the three proposals. The SEC has until September 1 to address an appl...

Grayscale has scored a win in its case against the Securities and Exchange Commission (SEC) concerning the conversion of its Grayscale Bitcoin Trust (GBTC) product into an exchange-traded fund (ETF). The judge in the case specifically found that the “denial of Grayscale ’s proposal was arbitrary and capricious because the commission failed to explain its different treatment of similar products.” The SEC has previously approved futures-based bitcoin ETFs but has yet to approve any spot-based bitcoin ETFs. Grayscale filed this lawsuit after the SEC originally denied the conversion of its GBTC product to an ETF.   The SEC’s denials of spot bitcoin ETFs and approval of futures-based ETFs have frequently appeared to hinge on a belief that the futures were more resistant to manipulation . The judge specifically detailed how “Grayscale presented uncontested evidence that there is a 99.9% correlation between bitcoin’s spot market and CME futures contract ...

Also Read: Ripple Vs SEC: Key Executives Signal Trial Readiness for Q2 2024 advertisement Blackrock Investments In Bitcoin Mining Companies The world’s largest asset manager, Blackrock, is said to be holding more half a billions dollars worth of shares in Bitcoin mining companies, which also includes publicly listed companies. Greenpeace USA, an affiliate of environmental nonprofit organization Greenpeace International, had earlier in August 2023 revealed findings from its research on Blackrock investments. “Greenpeace USA research finds that BlackRock controls nearly $600 million worth of shares in Bitcoin mining companies and has shares in most of the large publicly traded miners. These investments are vital for mining companies to access funding for their energy-intensive facilities.” In a latest, some popular crypto Twitter accounts too have reported the same: Recommended Articles ...