VanEck believes Bitcoin is not yet in late bull market stages. Expectations for a supportive U.S. Continue Reading: VanEck Maintains Optimistic Bitcoin Price Predictions The post VanEck Maintains Optimistic Bitcoin Price Predictions appeared first on COINTURK NEWS .
Digital asset investment products have achieved a historic milestone, according to Coinshares’ weekly report penned by research analyst James Butterfill. The findings highlight an unprecedented $3.13 billion in weekly inflows, signaling an amplified attraction toward these offerings. Bitcoin Leads the Charge with $3 Billion Inflows According to Coinshares’ research, bitcoin (BTC) emerged as the undisputed
Rumble announces plans to invest up to $20M in Bitcoin from cash reserves, highlighting its role as an inflation hedge and strategic asset. The post Rumble to invest up to $20 million in Bitcoin from its cash reserves appeared first on Crypto Briefing .
Digital assets manager CoinShares says institutional investors dropped over three billion dollars into crypto products last week. In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in net inflows of $3.13 billion last week, a new inflow record. “Digital asset investment products saw the largest weekly inflows The post $3,124,000,000 Hits Bitcoin ETFs In Largest Weekly Inflows on Record: CoinShares appeared first on The Daily Hodl .
LCX soars 90% in a week, fueled by technical breakout and surging activity.
On-chain data shows exchanges have continued to receive stablecoin deposits recently, a sign that could be bullish for Bitcoin and other digital assets. Stablecoin Exchange Netflow Has Remained Positive Recently As pointed out by an analyst in a CryptoQuant Quicktake post, stablecoins have been flowing into exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which keeps track of the net amount of a given asset that’s moving into or out of the wallets associated with centralized platforms. When the value of this metric is positive, it means the investors are making net deposits of the coin to exchanges. Such a trend suggests the holders want to trade the asset away. Related Reading: 54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump On the other hand, the indicator being negative implies investors prefer to hold onto the cryptocurrency, as they are taking their tokens off into self-custody. The implication of these trends for the wider sector and the asset itself can be different depending on the exact type of coin that’s witnessing the outflows/inflows. In the case of volatile assets like Bitcoin, a positive Netflow can be bearish for the price, as it means the holders are looking to sell. BTC also acts as one of the main transition points for capital in the sector as a whole, so it being sold can be a bad sign for the rest of the coins as well. Stablecoin deposits also imply traders want to sell them, but since their price always remains stable around the $1 mark, the selling has no ‘bearish’ effect on them. Like Bitcoin, the stablecoins act as a gateway for capital into the sector. More particularly, investors invest their money into the stables whenever they want to avoid the volatility associated with other assets. Such holders usually eventually plan to delve into the volatile coins, and once they are ready, they transfer these fiat-tied tokens into exchanges to make the swap. This naturally acts as buying pressure for whatever asset that they are shifting to. As such, positive stablecoin Exchange Netflows are considered bullish for Bitcoin. Now, here is the chart shared by the quant that shows the recent trend in the Exchange Netflow for the stablecoins: From the graph, it’s visible that the stablecoin exchange netflow has mostly been sitting inside the positive territory for the last few weeks. Alongside these inflows, Bitcoin has been breaking record after record, so it’s likely that these stablecoin deposits have been acting as fuel for the asset. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near? The indicator’s value has continued to show strength recently, so it seems the investors aren’t done with their BTC accumulation yet. If the earlier trend continues, the latest stablecoin inflows can elongate the rally and perhaps help the asset to finally break through the $100,000 dream target. Bitcoin Price Bitcoin had seen a plunge under the $96,000 level yesterday, but it appears the coin has already bounced back as its price is now trading around $98,400. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
A prominent crypto influencer has criticized Bitcoin (BTC) for being an antithesis of its founder’s vision. Justin Bons, a vocal BTC critic and the founder and CIO of Cyber Capital, took to X to slam the premier crypto for failing to uphold Satoshi Nakomoto’s dream of being a P2P digital cash and gold. He wrote:
This week in crypto is defined by major updates, including Sonic Labs’ anticipated L1 mainnet launch, Avalanche’s significant upgrades, and Starknet’s staking introduction. The crypto market is witnessing heightened activities
In a surprising event, the U.S. Customs and Border Protection Agency (CBP) is allegedly holding imports of Bitmain’s…
Bitcoin’s recent price dip has raised concerns among investors, as liquidations and profit-taking by long-term holders drive the market downward. Over the last 24 hours, the cryptocurrency market witnessed total