The election of a pro-crypto President and pro-crypto lawmakers in the United States has brought renewed attention to the crypto markets.
A cryptocurrency exchange called Paribu recently conducted a survey highlighting a notable trend in Turkey: an increasing preference for crypto over traditional investment options such as stocks and real estate. The “2024 Cryptocurrency Awareness and Perception Survey” survey involved interviews with 2,002 individuals familiar with crypto and 541 interviews with those actively trading in the digital asset market. […]
The acquisition will allow Crypto.com’s family of companies to offer stocks and equity options to eligible traders in the United States.
Kraken hinted that its managerial structure would be reformed, without explaining the details.
According to Bitfinex, Bitcoin (BTC) volatility is set to intensify over the next week. A “potent mix” of geopolitical and macroeconomic factors has significantly influenced the flagship crypto’s performance, with anticipation for the outcome of the US election and Q4’s close setting a potential target of $80,000 by year-end. Related Reading: Neiro Breaks Above Key Level Following 10% Weekly Drop, Is $0.0020 Next? Bitcoin Volatility About To Reach Its Peak Crypto exchange Bitfinex’s recent report shared that Bitcoin’s price could hit $80,000 by the end of the year due to a convergence of geopolitical uncertainty, macroeconomic factors, seasonality, and the increasing influence of the “Trump Trade.” The report noted that, historically, global macroeconomic trends and geopolitics events influenced BTC’s price. As a result, the largest cryptocurrency by market capitalization has seen its price movements driven by the anticipated US Presidential elections. The potential outcome of the elections, scheduled for next week, has affected Bitcoin’s performance throughout the year. Both presidential candidates have acknowledged the crypto industry, with the Republican candidate Donald Trump becoming the sector’s champion after fully embracing Bitcoin and crypto. Trump’s pro-crypto stance increased the correlation between the Republican candidate’s winning odds and Bitcoin’s trajectory. Moreover, the “Trump Trade” narrative reflects “the market’s view of how BTC will fare dependent on the outcome of the election.” Per the report, this narrative has fueled Bitcoin volatility, with the flagship crypto seeing sharp intra-week corrections before rebounding. Last week, BTC saw a 6.2% pullback toward the $65,000 support zone before reclaiming the $68,000 mark again. Bitfinex analysts consider that this pullback might be the first of several “whipsaw price movements” ahead of the elections, affecting BTC’s short-term price as speculation and volatility increase. Additionally, option premiums and estimated daily volatility for the US stock market and Bitcoin are projected to rise significantly next week. The report noted that BTC volatility will peak between November 6 and November 8, when the Election results are expected to be delivered. Reportedly, the highest implied volatility (IV) is for the November 8 strike price “reaching up to over 100 vol for strike prices over $100,000 for BTC.” BTC Poised To Hit $80,000 In Late December The report noted that Bitcoin has shown strength despite the increasing volatility. The flagship crypto “has remained resilient” and held its ground compared to the September lows, surging around 30% from last month’s drop. Additionally, BTC closed September, which has historically been a challenging month for the cryptocurrency, with a 7.29% increase, the highest closing for the month on record. The crypto exchange’s report predicted that October’s close could be “less impressive” due to the volatility. Nonetheless, Bitfinex analysts suggested that Q4’s historically bullish seasonality will still favor a positive rally for BTC. Market positioning shows that end-of-year options have seen a considerable rise in call open interest over the last few weeks. Related Reading: Bitcoin Hash Ribbons Flash ‘Buy’ Signal: Analysts See New Highs On The Horizon BTC is expected to continue experiencing higher-than-average volatility and potentially see deep corrections in the coming days. But the market seems poised for a post-election surge above March’s $73,666 all-time high (ATH). Lastly, call options with a December 27 expiry and an $80,000 strike price have seen a steady build-up, suggesting that this target could be in reach by year-end. As of this writing, BTC is trading at $71,197, a $3.4% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Gemini has received in-principle approval for a Major Payment Institution license in Singapore.
The new index series from HKEX will offer a single reference price for Bitcoin and Ether, aligning with Asia-Pacific trading hours, and it aims to boost transparency in the digital asset market.
Kraken’s new blockchain, Ink, will simplify decentralized finance access, offering trading, lending and borrowing services without intermediaries.
Grant Colthu, the former CEO of Australian crypto exchange Mine Digital, appears to be in legal trouble. According to a press release, Colthu is now facing fraud charges for allegedly misappropriating a customer’s $1.47 million (2.2 million AUD). The release revealed that the customer had intended to use the funds to purchase Bitcoin, but the […]
Singaporean cryptocurrency exchange Fairdesk has unveiled plans to wind down its operations in the coming month. This move comes as a surprise, as there had been no prior indications of difficulties facing the platform. However, it aligns with a broader trend of exchanges shutting down amid increasingly strict crypto regulations imposed by national authorities. Related […]
The new token listing requirements include reviewing lock-up periods, business plans, token distributions, and team background checks.
Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions, beating the global average by 17%.
Binance becomes fully operational in Argentina after securing registration with the country’s securities regulator.
The acquisition of the Dutch broker firm is a key part of the exchange’s European expansion strategy ahead of the MiCA regulation.
Licensing requirements for crypto exchanges in Australia will be extended beyond those related to digital currency exchanges.
EllipX will comply with the EU’s MiCA regulations, with plans to add fiat services and offer fee cuts for former Mt. Gox users.
The volume of crypto liquidations from exchanges could be vastly underreported, a senior researcher from K33Research noted on X. Vast Underrepresentation Of Crypto Liquidation Data According to a series of posts on X by Vetle Lunde, a senior researcher at K33 Research, liquidation volume data shared by leading digital assets exchange might be severely underreported. […]
The Nigerian financial authorities recently announced their plan to overhaul the tax system to add crypto assets. The upcoming proposal, which aims to modernize the current policies and adapt to the evolving financial landscape, was praised by a Nigerian organization that called the efforts a “game-changing” move for the country’s economic growth. Related Reading: Crypto […]
Recently, a panel set by the British Columbia Securities Commission (BCSC) found crypto exchange ezBtc responsible of defrauding users of CAD 13 million in Bitcoin (BTC) and Ether (ETH) between 2016 and 2029. The exchange’s founder misappropriated the funds and caused “actual loss” to investors. Related Reading: $365 Million Crypto Scam: South Korean CEO Indicted […]
The Financial Conduct Authority (FCA) has slapped the UK subsidiary of Coinbase – CB Payments Limited – with a $4.5 million penalty for breaking a voluntary agreement meant to stop high-risk customers from being onboarded. The FCA brought to light serious problems with the control systems at CBPL. Related Reading: Veteran Trader Champions Bitcoin, Says […]
Bitcoin (BTC), the largest cryptocurrency by market capitalization, took over the Las Vegas Sphere over the weekend. The flagship crypto was displayed on the largest LED screen in the world as part of Crypto.com’s anniversary. Despite the excitement, a discussion sparked regarding Dogwifhat’s campaign to bring the memecoin to the Sphere. Related Reading: Bitcoin Conference […]
The crypto exchange blamed regulatory pressures and “compliance requests” from local financial regulators as the reason it terminated its services.
Bitrue Ventures’ new fund aims to support Web3 startups with up to $200,000 in investment, offering extensive industry resources.
The collapsed exchange has started debt repayments to creditors via select crypto exchanges, following the Rehabilitation Plan.
According to a recent report, South Korea has taken a significant stride towards “enhancing the security and “integrity” of its cryptocurrency market. On July 4, the nation’s financial watchdog, the Financial Supervisory Service (FSS), officially announced the launch of a 24-hour monitoring system aimed at detecting and addressing dubious activities within the crypto sector in […]
CoinDCX’s acquisition of BitOasis opens new opportunities in the Middle East and ensures regulated and secure trading.
The repeated Bitcoin transfers to centralized exchanges suggest that the government is planning to sell its $2.75 billion worth of BTC holdings.
The ongoing legal battle between Nigerian authorities and the crypto exchange Binance has significantly affected the country’s blockchain industry. The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) recently expressed its concerns about the negative impact of the current dispute and urged for a “balanced resolution.” Related Reading: DeFi Protocol Alex Lab $4 Million Hack Linked […]
Bybit became the world’s second-largest crypto exchange, while the leading exchange, Binance, has lost some market share due to previous regulatory issues.