Bitcoin (BTC) created its first higher low since June 18, but has yet to break out from a horizontal and diagonal resistance level. BTC has been falling since reaching an all-time high price of $69,000 in Nov. The downward movement has so far led to a low of $17,592 in June 2022. The price hasContinue reading “Bitcoin (BTC) Reaches First Ever Close Below 50-Month Moving Average (MA)”
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What is a Bitcoin spot ETF and when will the first one get approved?
Last October, the SEC approved the first-ever Bitcoin futures ETF, which enabled investors to gain indirect BTC exposure through a popular investment vehicle. But Proshare’s “Bitcoin Strategy ETF” doesn’t hold BTC directly — it holds something called BTC futures contracts. So, when might the SEC approve a “BTC spot ETF” that holds the cryptocurrency directly? In theContinue reading “What is a Bitcoin spot ETF and when will the first one get approved?”
NUMBERS TO KNOW
$1.6 billion The “unicorn” valuation of Magic Eden — the largest Solana-based NFT marketplace — after this week’s $130 million Series B funding round. Meanwhile, industry leader OpenSea, which just enabled Solana NFTs in April, has a valuation of $13.3 billion after a $300 million fundraise in January. (Solana is a popular alternative to ETH,Continue reading “NUMBERS TO KNOW”
From billionaire Mike Novogratz to Kiss’s Gene Simmons, the week’s crypto-iest quotes
Galaxy brain… According to Mike Novogratz, CEO of crypto-focused investment firm Galaxy Digital, Bitcoin “will lead the markets back out of this Fed tightening.” While acknowledging that the current crypto downcycle has been “more painful” than previous bear markets, Novogratz told CNBC that the tide could turn once the Fed becomes less hawkish on inflation. Smooth Sayling… “#Bitcoin is theContinue reading “From billionaire Mike Novogratz to Kiss’s Gene Simmons, the week’s crypto-iest quotes”
As global recession fears loom, Bitcoin drops below key price level. Are there any silver linings?
No sugarcoating it this week: It’s ugly out there. The S&P 500 is firmly in bear market territory, having notched its worst week since March 2020; Bitcoin sank as low as $17,567 on Saturday (before retaking $20,000 to start the week); crypto’s global market cap has retreated under $1 trillion for the first time since January 2021; and cryptoContinue reading “As global recession fears loom, Bitcoin drops below key price level. Are there any silver linings?”
Bitcoin just hit a 2022 low
What’s up? It’s Coinbase Bytes There’s never a dull moment on the blockchain. Here’s what you need to know this week: Crypto markets crashed to 2022 lows. Bitcoin sank below a key psychological price level, but there may still be some silver linings. Key cryptoverse quotes. Compelling takes from Mike Novogratz, Michael Saylor, Gene Simmons,Continue reading “Bitcoin just hit a 2022 low”
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