Bitcoin’s evolution has linked its trajectory to several other markets, and its position in certain markets can provide insight into the future direction of BTC. However, recent data suggests that this phenomenon is changing, particularly in the correlation between Bitcoin price and exchange-traded fund (ETF) movements.advertisement Historical patterns and recent deviations According to the latest observations made by CryptoQuant authors on the QuickTake platform, BTC ETFs, including the German-based investment fund ETC Group Physical Bitcoin (BTCE), have historically shown a pattern of synchronization with Bitcoin price movements, but are now showing a divergence in correlation. Analyst Joao Wedson noted that…
Author: Crypto Flexs
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Caroline Bishop 15 Aug 2024 02:44 IBM Research is a leader in computer science, focusing on groundbreaking advances in automation, information processing, and computation. IBM Research is a key player in computer science, driving significant advances in automation, information processing, and computation. According to IBM Research, their ongoing efforts are aimed at improving human performance and contributing to social progress. Focus on automation and information processing IBM’s research initiatives are focused on achieving breakthroughs that can streamline automation processes and improve information processing capabilities. These advances are expected to transform the way industries operate,…
One popular cryptocurrency believes that Solana (SOL) has the potential to rise by over 850% before the current cycle ends. Anonymous analyst Kaleo told his 643,700 followers on social media platform X that Solana appears to mirror Ethereum price action in late 2020, just before ETH surged to its all-time high (ATH) of $4,878. “If Solana can manage similar growth from its previous ATH during this bull run as ETH did in the last cycle, $1,000 SOL is a reasonable target.” Source: Kaleo/X However, Kaleo points out that Solana could go even higher if it truly follows ETH’s 2020 script.…
On August 15, Bitcoin fell further as selling pressure mounted due to new BTC transfers from the US government.BTC/USD 1-hour chart. Source: TradingViewBitcoin sellers fuel sell talkAccording to data from Cointelegraph Markets Pro and TradingView, the lowest price for Bitcoin (BTC) in recent days was $57,816.The largest cryptocurrency reacted negatively after the U.S. government confiscated 10,000 BTC ($581 million) from exchange Coinbase this year, the largest amount so far, according to data from cryptocurrency intelligence firm Arcam.The event nullified any sense of relief over the US macroeconomic developments, with lower consumer price index (CPI) figures failing to boost BTC price…
The U.S. spot Bitcoin exchange-traded fund (ETF) shed $81.36 million on Wednesday, ending a two-day run of positive activity.BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, saw net inflows of $2.68 million. data At SosoValue, Franklin’s EZBC recorded its first net inflow since July 22, with $3.42 million in inflows. It was the only two funds to report inflows on Wednesday.Grayscale’s GBTC reported the largest outflow among the funds, with a net outflow of $56.87 million, followed by Fidelity’s FBTC with $18.05 million, Ark and 21Shares’ ARKB with $6.77 million, and Bitwise’s BITB with $5.78 million.The other six…
The price of Maker (MKR), the governance token of the MakerDAO protocol, has increased by 7.47% in the last 24 hours. This increase comes after Grayscale announced the launch of the MakerDAO Investment Trust on Tuesday. Since this disclosure, Maker has also experienced other positive changes, which we will discuss in this analysis. New Investment Vehicle Brings a Buzz to MakerDAO On August 13, major cryptocurrency asset manager Grayscale announced the launch of MakerDAO Trust. This is the second consecutive launch in a matter of days, following its investment in two other altcoins last week. According to the company, the…
Rebecca Moen 15 Aug 2024 03:20 Offchain Labs introduces Tandem, a partner studio that aims to solve blockchain’s toughest challenges through collaboration and investment. Offchain Labs has announced the launch of Tandem, a new partner studio designed to support selected partners in overcoming some of the most critical challenges in the blockchain space. According to Offchain Labs, Tandem aims to provide both financial investment and in-depth collaborative support.Mission and VisionKnown for its work on Arbitrum, Offchain Labs has always focused on solving the most complex technical problems in blockchain. Through Tandem, the company plans…
In a recent interview, Circle CEO Jeremy Allaire emphasized: Bipartisan Agreement on Cryptocurrency Policy In the United States, Allaire’s comments come at a critical time when the U.S. is under increasing pressure to lead the rapidly evolving global cryptocurrency industry. He believes that while cryptocurrencies enjoy bipartisan support, more decisive action is needed to ensure that the U.S. remains at the forefront of this innovative technology. Cryptocurrencies as a Bipartisan Issue In an interview with CNBC, Allaire noted: Bipartisan Agreement on Cryptocurrency Policy It’s already starting to take shape in the U.S. “What’s interesting is that if you look at…
Senate Majority Leader Chuck Schumer has said he plans to pass legislation regulating cryptocurrencies by the end of the year. “Congress has a responsibility to provide common sense and sound regulation,” the New York Democrat said at a Crypto4Harris town hall Wednesday night. “My goal is to get it through the Senate by the end of the year and become law, and I believe we can do that,” Schumer said. “I think we need to strike a balance between encouraging innovation and providing common-sense protections for cryptocurrencies.” Lawmakers in Washington are drafting several bills to regulate cryptocurrencies, but they have…
USDT minting has reached a total of $16 billion since Bitcoin peaked at $74,000. Whale activity increases as Bitcoin and USD liquidity become correlated. Tether Treasury minted 1 billion USDT on Ethereum and sent 183.2 million USDT to Cumberland for exchange deposits in the last 13 hours, according to what SpotOnChain observed on X. After the August 5 cryptocurrency market crash, Cumberland received 953 million USDT from Tether and invested 906.7 million USDT in various exchanges, including Coinbase, Kraken, OKX, Binance, and Bullish.com. Source: SpotOnChain Additionally, Tether ($USDt) was integrated into the TON blockchain, driving USDT’s market cap to an…