There are many different ways to quantify market sentiment. Looking at price action provides a very crude but effective gauge of the market’s feelings — if the price is going down, the market’s most likely bearish, and vice versa. However, feelings about the future are very complex to analyze, especially…
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Grayscale, the issuer of the world’s largest Bitcoin exchange-traded fund (ETF), has applied for a smaller version of its popular Grayscale Bitcoin Trust (GBTC) ETF under the “BTC” ticker, according to a Mar. 12 filing with the US Securities and Exchange Commission (SEC). Grayscale said: “This would be net-positive for…
In the wake of new inflation data, the crypto market experienced $164.52M in liquidations over the past 12 hours, with $119.88M in long positions and $44.64M in short positions being flushed out. Bitcoin accounted for $48.31M of the total liquidations. Bitcoin leverage (Source: Coinglass) The US Market Open again seemed…
The Nigerian government reportedly obtained a court warrant to detain Binance officials for at least twelve days after they insisted they should be taken to their respective countries’ embassies, local media outlet Premium Times reported on Mar. 12. Detained officials identified Recently, the Nigerian government accused Binance of aggravating the…
Bitcoin ETF inflows surged on March 11, 2024, with a net gain of $505.5 million, according to data from Bitmex Research. The strong performance was led by BlackRock’s iShares Bitcoin ETF (IBIT), which saw inflows of $562.9 million, representing a 0.12% increase in total assets. Fidelity’s FBTC fund also contributed…
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Nayyib Bukele, the President of El Salvador, revealed that the Central American nation generates multiple Bitcoin revenues from various channels alongside its BTC holdings. In a Mar 11. post on social media platform X (formerly Twitter), the president outlined four additional sources of Bitcoin revenue for the government, including: Revenue…
Glassnode’s Bitcoin Spot Cumulative Volume Delta (CVD) registered its highest reading of 2024 on March 11, hitting nearly $900 million. This surge in the CVD, which measures the net difference between aggressive buying and selling pressure across major crypto exchanges, signals a strong bullish sentiment in the Bitcoin market. Looking…
Coinbase has strongly criticized the Securities and Exchange Commission (SEC) for rejecting its rulemaking petition, labeling the decision “arbitrary and capricious.” The crypto exchange lodged this critique in a Mar. 11 petition filed before the US Court of Appeals for the Third Circuit. If Coinbase’s move is successful, the SEC…