The post Peter Schiff Warns Mass Bitcoin ETF Sell-Off If Price Dips Below $38K appeared first on Coinpedia Fintech News
Peter Schiff has yet again expressed his doubtfulness over Bitcoin’s future, with his focus on Bitcoin ETFs this time, where he predicts a potential large-scale sell-off that could destabilize the market further. Schiff’s warning comes at a time when Bitcoin is experiencing significant fluctuations. With Bitcoin trading around $54,000, he estimates that over 70% of …
The post Experts Predict BTC price to Hit $150k Soon – Here’s WHY appeared first on Coinpedia Fintech News
Bitcoin is down by 23% from its all time high, which might be a fear signal for newcomers. However, believers see this as a necessary correction. For some, this is a time to be fearful, but for others, it’s a chance to wait for the right time & opportunity to fill their bags. More than …
The price of Ethereum could be bolstered by inflows into upcoming U.S. spot ETFs, while Bitcoin faces headwinds from Mt. Gox creditor repayments.
In Cointelegraph’s latest video, experts discuss the impact of the spot Bitcoin ETF approvals on the crypto markets and the potential for a spot Ethereum ETF.
Bitcoin and Ethereum users are experiencing exceptionally low fees, but why?
The realm of cryptocurrency ETFs appears to be now expanding, yet not all digital assets are poised for an easy transition into this financial product. GSR’s recent analysis of the potential for ETFs across various crypto has brought forward insights that place XRP and Cardano in a challenging position for ETF adaptation. Using a comprehensive […]
The post T-Rex Group Files for Potentially Most Volatile ETF in U.S. History appeared first on Coinpedia Fintech News
Financial services firm T-Rex Group has filed for a leveraged MicroStrategy (MSTR) exchange-traded fund in the United States. This ETF could potentially be the most volatile ETF ever seen in the country. Read on to learn what experts think about this development and to do an in-depth comparative analysis! What Experts Think About T-Rex Group’s …
Financial services firm T-Rex Group has applied for what could be the “most volatile ETF” ever seen in the United States.
As the highly anticipated launch of the first spot Ethereum ETFs in the United States nears, experts are predicting a significant price appreciation for the second-largest cryptocurrency in the market. Ethereum ETFs On The Horizon According to a recent Reuters report, the US Securities and Exchange Commission (SEC) could approve Ethereum ETFs as soon as July 4, as discussions between asset managers and regulators enter the final stages. Industry executives and other participants who requested anonymity due to the confidential nature of the talks revealed that the process of amending the offering documents has progressed to resolving only “minor” issues, and approval is “probably not more than a week or two away.” Related Reading: Bitcoin Battling Bearish Headwinds: Is The Sell-Off Over? According to Morningstar Direct data, the launch of Bitcoin-based ETFs in the US in January was a major success, drawing around $8 billion in assets. By late June, these nine new products had nearly $38 billion in assets, although the holdings of Grayscale Bitcoin Trust – which converted its $27 billion BTC trust into an ETF simultaneously – dipped to $17.8 billion. However, experts believe the launch of the new spot Ethereum ETFs may not be as impressive as the Bitcoin ETF debut. James Butterfill, head of research at Coinshares, noted that “Ethereum is not the same size in terms of market cap, nor does it have the same volumes” as BTC. Given the differences in market size and nature of the two cryptocurrencies, Bryan Armour, an ETF analyst at Morningstar, believes inflows may be much more muted when the Ethereum ETFs launch. “With Bitcoin, there had been pent-up demand for a decade, and investor interest was off the charts,” Armour said. “This just isn’t going to command the same excitement.” However, not everyone shares the same cautious outlook. ETH Eyes Potential Rally Toward $7,500 Quinn Thompson, the founder and CIO of Lekker Capital, has recently stated that the market is in the middle of “one of the most obvious and attractive crypto buying opportunities of recent memory.” Thompson further claimed that it was “cool” to be bullish in the past, but now, it appears that “Twitter has become a contest to see who can have the most negative ETH ETF take.” Thompson further noted: Personally, I think ETH will reach $7,000 and BTC will make its first attempt at $100,000 by the election in November. The Glassnode co-founders also shared a bullish price analysis for Ether, stating that if investors look at Ether’s history, similar patterns are developing as in the early stages of the 2021 bull market. They believe the current structure gives a target of around $7,500 as a final high for Ether, mirroring the Fibonacci extension seen in 2021 and implying a strong rally in Ether “soon!” Related Reading: Dogecoin Profitability Rises To 75% As Shiba Inu Plunges To 52% While caution remains regarding the possibility of further price declines, experts argue that such a scenario would require a new exogenous event to occur. Overall, market sentiment is leaning towards Ethereum reaching $7,000 and Bitcoin’s first attempt at $100,000. At the time of writing, ETH was trading at $3,460, up more than 3% over the past 24 hours as the broader market recovers from the corrections seen over the weekend and into the beginning of the week. Featured image from DALL-E, chart from TradingView.com
The post Bitcoin ETFs Loose $174 Million After Mt Gox Creditors Repayment News Next Week appeared first on Coinpedia Fintech News
The spot BTC ETF outflows amounted to $174 million yesterday after it was revealed that Mt Gox’s creditors will start getting reimbursed beginning next week. In the past five trading sessions, Bitcoin ETFs have seen net outflows of $714 million. Grayscale’s GBTC fund saw the highest outflow of $90 million, while Fidelity’s FBTC fund witnessed …
Bitcoin ETFs are close to breaking their record outflow streak, set in May, after seeing $174 million in outflows on Monday.
The post Bitcoin spot ETFs could hit longest outflow streak on record appeared first on Crypto Briefing.
A letter from Consensys states that the SEC’s approval of spot Ether exchange-traded funds indicated that it had “updated its position to classify ETH as a commodity and not a security,” but not everyone agrees.
Bitcoin hit a low of $64,300 on Thursday following extended outflows from US spot Bitcoin ETFs, bleeding almost $140 million.
The post Bitcoin falls close to $64,000 as ETFs bleed $140 million appeared first on Crypto Briefing.
Bitcoin (BTC), the leading cryptocurrency, has regained momentum, bouncing off a weekly low of $64,000 to find support above $65,000, halting last week’s downtrend. This price recovery may be due to another significant investment round by business intelligence company MicroStrategy, led by Bitcoin bull Michael Saylor. The company announced on Thursday the acquisition of an additional 11,931 BTC valued at approximately $786.0 million, further solidifying its position as a major institutional holder of the digital asset. MicroStrategy’s Bitcoin Holdings Surge To Nearly $15 Billion MicroStrategy’s Chairman and Co-founder, Michael Saylor, revealed the latest acquisition in a social media post. The company purchased 11,931 Bitcoin between April 27 and June 19, utilizing proceeds from convertible notes and excess cash at an average price of $65,883 per Bitcoin. Notably, the recent purchases increased MicroStrategy’s overall Bitcoin holdings to an impressive 226,331 BTC, acquired at a total cost of $8.3 billion, currently valued at approximately $14.9 billion. Related Reading: Solana Could Face A 41% Crash, Warns Mechanism Capital Co-Founder Saylor’s interest in Bitcoin dates back to 2020, when he began purchasing the cryptocurrency as a hedge against inflation and an alternative to holding cash. Since then, Bitcoin has experienced substantial growth, appreciating around 600% since Saylor’s initial investments. The recent purchase by MicroStrategy comes at a time when market sentiment towards Bitcoin is mixed. Market intelligence platform Santiment reports that the community is “mainly fearful” or disinterested as Bitcoin’s price hovers between $64,000 and $65,000. However, Santiment suggests that BTC trader fatigue, combined with whale accumulation exemplified by MicroStrategy’s latest acquisition, often leads to price bounces “that reward the patient,” as seen in the image above. BTC’s Cycle Top To Reach New Heights Despite the current mixed sentiment in the market, most experts and analysts are forecasting a cycle top for Bitcoin beyond the current all-time highs. Market analyst Crypto Con recently used Fibonacci retracements to forecast conservative and less conservative potential cycle top targets. According to Crypto Con’s analysis, the .618 Fibonacci retracement level has proven reliable for previous Bitcoin cycle tops. Extension levels can be derived by retracing from the cycle bottom to the top of the first move. The cycle tops of 2013 and 2017 were predicted at 4.618, while the 2021 top was forecasted at the 5.618 level. For the current cycle, the conservative target for the cycle top is $106,000, while the less conservative target stands at $161,000, according to Crypto Con. Related Reading: SEC Drama Fuels XRP Rally: Open Interest Skyrockets Adding to the positive sentiment, wealth management firm Bernstein has made bold predictions for Bitcoin’s future price trajectory. Despite arguments from bears that the Bitcoin ETF trade is over and early allocations were driven by retail investors, Bernstein holds a different viewpoint. The firm emphasizes that Bitcoin ETFs are on the verge of approvals at major wirehouses and large private bank platforms in this year’s third or fourth quarter. These potential approvals and institutional interest act as a catalyst for adoption. Bernstein expects Bitcoin to reach a cycle high of approximately $200,000 by 2025, $500,000 by 2029, and an impressive $1 million by 2033. The firm asserts that institutional investors are evaluating “net long” positions, indicating a growing interest in the cryptocurrency. At the time of writing, BTC has limited its losses in the 7-day time frame to 3.6%, resulting in a current trading price of $65,170 for the largest cryptocurrency on the market. Featured image from DALL-E, chart from TradingView.com
VanEck's Bitcoin ETF starts trading on the ASX, with volumes topping $1.5 million after a couple of hours of trading.
The post VanEck’s Bitcoin ETF goes live on Australia’s top exchange appeared first on Crypto Briefing.
The post Bernstein Predicts $200K Bitcoin by 2025 appeared first on Coinpedia Fintech News
According to Bernstein’s prediction, Bitcoin ETFs are close to approval at major wirehouses and private banks, with potential approval in Q3 or Q4. They also affirm their BTC price target of $200,000 by the end of 2025. Although skepticism prevails about the trade of ETFs being driven by retail investors, Bernstein mentions that institutional investors …
Spot bitcoin ETFs are expected to be approved by major wirehouses and large private bank platforms in the third and fourth quarters, the report said.
Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
According to Bernstein, Bitcoin may reach $1 million by 2033, with MicroStrategy's strategic holdings poised to benefit.
The post Bitcoin set to reach $1M by 2033, forecast Bernstein analysts appeared first on Crypto Briefing.
BlackRock’s IBIT was the only ETF posting a net inflow on Thursday, while most of the funds recorded outflows.
Venture capital firm Paradigm has reportedly raised $850 million for its third fund, supporting early-stage cryptocurrency initiatives led by Coinbase co-founder Fred Ehrsam and ex-Sequoia Capital partner Matt Huang. Increased Venture Capital Interest In The Industry Paradigm’s previous investments include prominent projects like decentralized exchange (DEX) Uniswap and Optimism, a scaling solution for the Ethereum blockchain. According to Bloomberg, with the capital raised in the latest funding round, Paradigm aims to contribute to early-stage crypto work and plans to prioritize such projects in the future. Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? The latest fundraising comes after Paradigm’s notable achievement in 2021 when it secured a $2.5 billion fund, the largest-ever crypto investment vehicle at that time. The current surge in interest and confidence within the venture capital community towards the crypto industry has led to increased funds focused on cryptocurrency strategies. Paradigm’s fundraising success reflects the growing market appetite for crypto investments. Recent developments, such as the introduction of Bitcoin ETF and the impending approval of ETFs centered around Ethereum, have fueled the industry’s expansion. Hivemind Capital Joins Paradigm In Venture Funding Race Paradigm is not the only venture firm seeking to raise funds within the crypto space. Hivemind Capital, for instance, is actively raising a specialized $50 million non-fungible token (NFT) fund. Hack VC, which previously announced a $150 million fund, is also exploring opportunities to raise over $100 million for another investment vehicle. These initiatives highlight the increasing interest and confidence in the potential of the crypto industry from venture capitalists. While Paradigm faced criticism, including temporarily removing cryptocurrency references from its website, the firm rectified the situation and reaffirmed its commitment to the industry. Fred Ehrsam transitioned from managing partner to general partner at the firm in October, further solidifying Paradigm’s dedication to fostering crypto innovation. Despite setbacks, Paradigm continues to support crypto projects actively. Recently, the firm led an investment round in Merkle Manufactory, a company responsible for developing software infrastructure for the Farcaster social media network. The funding round valued Merkle Manufactory at approximately $1 billion, underscoring Paradigm’s ongoing belief in the potential and value of the crypto industry. Related Reading: Memecoin Fight: DADDY Surpasses MOTHER Despite Insider Trading Activity Allegations Overall, Paradigm’s successful fundraising efforts for its third fund demonstrate investors’ continued interest and confidence in supporting early-stage cryptocurrency projects. In recent months, the crypto industry has experienced a consistent outflow of funds, resulting in a decline in the total market capitalization from its yearly peak of $2.7 trillion to the current level of $2.3 trillion. The dominant cryptocurrency in the market has been the primary driver of the recent price drops. It is currently valued at $66,700 and has experienced a 3% decrease within the past 24 hours. Similarly, Ethereum has also declined, with its price dropping by 4% to approximately $3,475. Featured image from DALL-E, chart from TradingView.com
The post Commonwealth Bank Adds Monochrome BTC ETF to Investment Offerings appeared first on Coinpedia Fintech News
The Commonwealth Bank of Australia recently expanded its ETF offerings with the addition of Monochrome BTC ETF (IBTC) to the list. The bank has provided the opportunity to invest in BTC ETF to its user base of 17 million customers. Notably, the ETF allows investors to gain direct exposure to Bitcoin’s price movements while sticking …
CryptoQuant report links Bitcoin's sluggish rally to a slowdown in USDT market cap growth, despite high demand from large investors.
The post Bitcoin struggles to rally as Tether’s USDT growth stagnates: CryptoQuant appeared first on Crypto Briefing.
CEO Jenny Johnson believes institutions will deploy a second wave into Bitcoin funds and attract the truly big players.
Bitcoin price may be closer to the big milestone $100,000 mark than many realize as a looming banking crisis could see BTC become the new "safe haven asset."
The U.S.-based spot bitcoin ETFs yesterday made it 15-consecutive sessions of net inflows, with the latest rush of money combing with a rally in the price of {{BTC}} to send BlackRock's iShares Bitcoin Fund (IBIT) to more than $20 billion in assets under management for the first time.
This decision does not affect the ongoing collaboration between 21Shares and ARK Invest on other projects like the ARK 21Shares Bitcoin ETF launched in January.
Experts say BTC and ETH derivatives will be instrumental in integrating crypto to TradFi and sending each to new all-time highs.
Babylon, a crypto startup co-founded by Stanford University engineering Professor David Tse, has secured $70 million in its latest funding round, according to a Bloomberg report. The company reportedly aims to bridge the gap between Bitcoin (BTC) and Ethereum (ETH), the two leading cryptocurrencies. Bitcoin As A Staking Asset Per the report, the funding round was […]
Ether spot ETFs could attract as much as $3 billion of net inflows this year, the report said.