Quick Take Bitcoin’s short-term price action is currently navigating through an intriguing phase. For the first time, Bitcoin’s 200-week moving average (WMA) has surged above $30,000, indicating a significant shift in the baseline momentum of Bitcoin’s classic four-year cycle. This 200 WMA has historically been a consistent support system, barring…
Quick Take The digital asset market has seen a remarkable event as approximately $1.9 billion worth of Bitcoin – about 44,800 BTC – has surged back into circulation after a dormant period of over five years. The transactions happened around 1:30 GMT, even before the US market opened. It is…
Quick Take According to James Butterfill, analyst at CoinShares, net outflows have reached a staggering $424 million this week as investors increasingly opt for the more cost-efficient US funds. Since the launch of spot-based ETFs, Grayscale Bitcoin Trust (GBTC) has witnessed a significant trend reversal, with outflows totaling $1.18 billion.…
Over the last few months, the crypto internet has been dominated by the Bitcoin ETF talk. And for a good reason. At a $835.7 billion market cap, the pioneering crypto makes up 49% of the total crypto market, consisting of tens of thousands of tokens. In Bitcoin’s 15-year life cycle,…
Theta Labs and the NHL’s Vegas Golden Knights announced a partnership on Jan. 16 that will introduce new NFT-based fan experiences. Mitch Liu, co-founder and CEO of Theta Labs, said: “The world of sports is evolving, and we are at the forefront of this change with the Vegas Golden Knights.…
An unusual letter sent to federal court on Jan. 10 suggested an alternative sentence for FTX’s founder and former CEO, Sam Bankman-Fried. The letter’s author, Mary McKee of Minnetonka, Minnesota, stated that she has no relationship to Bankman-Fried. She continued: “Mr. Bankman-Fried certainly seems to be autistic and [it] doesn’t…
The Bitcoin mining firm Core Scientific announced on Jan. 16 that it has obtained court approval to proceed with its reorganization plan. Core Scientific noted that this reorganization plan will allow it to emerge from Chapter 11 bankruptcy proceedings in the coming days. Adam Sullivan, Core Scientific’s CEO, said: “Today’s…
Ripple CEO Brad Garlinghouse openly criticized SEC chair Gary Gensler and said his rigid stance toward crypto regulation and repeated legal actions have made him a “political liability.” Garlinghouse made the statement during an interview with CNBC at the World Economic Forum in Davos on Jan. 16. He also shared…
BlackRock‘s Bitcoin ETF IBIT has maintained its lead in total volume on the third day of trading, generating buzz about its potential to become the largest holder of Bitcoin (BTC). In the competitive race among the newly launched Bitcoin spot ETFs — dubbed the “Newborn Nine” — day three saw…
Tech companies attending Davos 2024 shifted toward artificial intelligence (AI) and away from cryptocurrency, according to various reports from CNBC on Jan. 16. Dante Disparte, CSO of the stablecoin firm Circle, told CNBC: “Today, there are very few crypto houses along the Promenade. They’re all AI houses, which is good…