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Grayscale: Decision In Bitcoin Spot ETF Lawsuit Vs. SEC Not Before Fall 2023

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The fate of Genesis Trading, Digital Currency Group (DCG) and the Grayscale Bitcoin Trust (GBTC) continues to hang by a thread after Cameron Winklevoss took another step in the escalation over Gemini Earn customer funds with a new open letter on Tuesday. For Grayscale, however, the current battle is also about continuing to fight on the front lines against the U.S. Securities and Exchange Commission.

Craig Salm, chief legal officer (CLO) at Grayscale, revealed in a Twitter thread today that Grayscale will “soon” file the next brief in its lawsuit against the SEC, which is refusing to convert Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.  Read more...

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Crypto Asset Inflows Fall To Three-Year Lows Amid 63% Bitcoin Drawdown

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Crypto asset inflows recorded one of their worst years in 2022. The year had been one fraught with market dips and crashes that saw over $ 2 trillion wiped off its market cap. Investors responded to this by pulling their money out of the market, and institutional investors invested the lowest cumulative figure they had done since 2018.

Institutional Crypto Investors Get Wary

A report from CoinShares outlines the year 2022 in review and how the crypto assets being invested in had done. It showed that for the whole of the year, the total inflows came out to $ 433 million. Now, the last time that inflows from these investor classes had been this low was back in 2018 when the figure had come out to $ 233 million.  Read more...

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🔴More Crypto Giants to Fall | This Week in Crypto – Nov 21, 2022

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The post 🔴More Crypto Giants to Fall | This Week in Crypto – Nov 21, 2022 appeared first on 99 Bitcoins.

El Salvador is buying one Bitcoin per day, Pantera Capital reveals its Bitcoin price target …

🔴More Crypto Giants to Fall | This Week in Crypto – Nov 21, 2022 Read More »

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The Crypto Contagion Intensifies With More Dominoes To Fall

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A look into the next potential dominoes in the crypto native contagion, along with a comparison of the recent historic levels of withdrawals.

The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.  Read more...

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Market Wrap: Bitcoin, Other Risk Assets Fall Again Following Disappointing Jobs Data

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Investors are nervous about rampant inflation prompting yet another massive rate hike by the Fed, and the economic damage that might cause. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.
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Measured Against Bitcoin, Everything Will Fall In Price Forever

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As the Bitcoin network replaces our current financial system and becomes the unit of account for the world, everything else will fall in price indefinitely.

This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Jeff Booth, author of “The Price Of Tomorrow” to talk about the lens through which he sees the investing world and how Bitcoin will replace our current financial system.

Watch This Episode On YouTube Or Rumble

Listen To The Episode Here:  Read more...

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NFT Lender BendDAO’s Liquidity Takes A Test As ETH Reserves Fall

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If you’re borrowing against your Bored Apes, you may want to keep your eyes peeled. Liquidity on major NFT lending platform BendDAO has been under a major stress test over the past 24 hours, as ETH levels appear to be under strain. At time of publishing, the BendDAO ETH reserves have been replenished, and sit north of 800 WETH, however the lender was noted by many of recording lows in the liquidity vault at just 5ETH – a dangerously low level for a lending platform of it’s nature.  Read more...

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Decline In Bitcoin Denominated Open Interest Sees Funding Rates Fall Below Neutral

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Bitcoin funding rates have been on a bearish trend in recent months. It has now spent one of its longest stretches in neutral and below neutral territory. But even with the recovering prices and sentiment in the crypto space, the funding rates have refused to mirror the trend. Instead, it has spent another week below neutral, painting a grim picture of how traders are viewing the market presently.

Traders Do Not Expect Recovery

Bitcoin funding rates are a good indication of when traders expect some form of recovery in the coming days. Since the market crash in June, the rate has refused to record any significant positive momentum, indicating that bitcoin traders do not expect a recovery going forward.  Read more...

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Crypto Exchange Zipmex Goes Bankrupt – Who’s Next To Fall?

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After weeks of rumors, cryptocurrency exchange Zipmex said that it had filed for bankruptcy protection in Singapore in response to mounting legal threats from creditors.

The Thailand-based crypto exchange is reported to have more than $ 50 million in exposure to Babel Finance and Celsius, crypto lenders that have severely been battered from the turmoil plaguing the crypto markets.

Babel halted withdrawals at the middle of last month in response to liquidity pressures caused by overleveraged crypto businesses such Three Arrows Capital and Celsius Network.

Related Reading | Immutable Games, Dubbed ‘Aussie Crypto Star,’ Sacks Over 20 Employees  Read more...

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Facebook Exec Takes Fall for Libra Name, Denies Copying Winklevosses

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It’s deja vu all over again. Facebook executive David Marcus is taking the blame for Libra, saying it was him, not his boss Mark Zuckerberg, who named the new digital currency. Marcus isn’t apologizing for it, however. On the contrary, he’s insisting that the name Libra had nothing at all to do with Gemini, the […]

The post Facebook Exec Takes Fall for Libra Name, Denies Copying Winklevosses appeared first on CCN Markets

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Op Ed: How Fiat Could Fall and Bitcoin Could Soar

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Bitcoin Flying

Argentina’s Failed Peg

In the 1990s, the Argentine peso was pegged to the U.S. dollar. This meant that the Argentine government guaranteed that anyone could exchange one Argentine peso for one U.S. dollar. If you had 1,000 Argentine pesos in your bank account, you could walk into the bank and ask for US$ 1,000 and the teller would hand it over.

By 2001, the peg had become unsustainable and the government of Argentina abandoned it. As a result, the exchange rate went into freefall.  Read more...

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Traders: If Bitcoin Price Fails to Remain Above Mid-$3,500, Expect Rapid Fall to $2,000

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In the last 24 hours, the Bitcoin price has slightly recovered from $ 3,451 to $ 3,526 following the announcement of Fidelity to launch Bitcoin custody by the end of the first quarter. The valuation of the crypto market has increased by $ 2 billion overnight as Bitcoin (BTC), EOS (EOS), and Ethereum (ETH) rebounded in the range of one to three percent against the U.S. dollar. Why Bitcoin is Still Vulnerable While the recovery of Bitcoin prevented a further decline in price to the low $ 3,000 region, traders generally agree that the dominant cryptocurrency still remains vulnerable. DonAlt, a cryptocurrency technical analyst,  Read more...

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Apple Earnings: Profits Slip, iPhone Sales Fall Way Short of Estimates

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Apple’s fiscal Q1 revenue and profits fell, marking the first time the company had to report such dismal numbers for this particular quarter in more than 10 years. The culprits behind the declines were slowing iPhone sales and China’s economic downturn. Apple CEO Tim Cook talking about China on the company earnings call moments ago. Here's what he said: pic.twitter.com/Vt5GSABwB4 — CNBC's Fast Money (@CNBCFastMoney) January 29, 2019 The tech giant’s earnings per share and revenue did beat analyst estimates. This was despite iPhone sales coming in lower than estimates. Apple had warned investors about the expected lower sales at the  Read more...

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Bitcoin Price Retreats Under $3,400: Here’s Why a Fall to the $2,000-Range May Be Inevitable

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In the last 24 hours, the Bitcoin price has dropped from $ 3,505 to $ 3,322 by more than five percent against the U.S. dollar. The abrupt decline in the Bitcoin price led the valuation of the crypto market to plunge by over $ 10 billion in a three-day span. Major crypto assets such as Bitcoin Cash (BCH) and EOS (EOS) recorded large losses throughout the past week and was surpassed by Tether (USDT) in market valuation. Dropping Below $ 3,000 is a Possibility For Bitcoin Throughout the past three months, despite recording intense sell-offs at times, Bitcoin has defended the $ 3,000 support level  Read more...

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Bitcoin Could Fall Below $1,260 if the Bear Market Continues: JP Morgan Analysts

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By CCN.com: Wall Street firm JP Morgan has predicted that HODLers should expect to experience more pain if the crypto winter persists. According to JPMorgan analysts, the price of bitcoin could fall to as low as $ 1,260, Reuters reports. The same analysts have, however, estimated that bitcoin’s ‘cost support’ is at around the $ 2,400 level. … Continued

The post Bitcoin Could Fall Below $ 1,260 if the Bear Market Continues: JP Morgan Analysts appeared first on CCN

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Was the Netflix Price Hike a Mistake? Shares Fall as Hulu Slashes Rates

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By CCN.com: Popular streaming service Netflix made headlines – and undoubtedly left some customers up in arms – after a round of price hikes that represented the company’s largest since its streaming service launch. Is Netflix’s Rate Hike Coming Back to Bite the Streaming Giant? As CCN reported, Netflix raised subscription fees by between 13-18%. The

The post Was the Netflix Price Hike a Mistake? Shares Fall as Hulu Slashes Rates appeared first on CCN

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Why the Bitcoin Price Could Fall to $2,400 & Entice Wall Street to Buy the Dip

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With the bitcoin price continuing to hover around $ 3,500 following last week’s sell-off, technical analysts have begun fevered debates about whether the flagship cryptocurrency will see more losses ahead. Crypto brokerage firm BitOoda believes that a further decline is likely but maintains that this will strengthen — not weaken — bitcoin over the long term. Does

The post Why the Bitcoin Price Could Fall to $ 2,400 & Entice Wall Street to Buy the Dip appeared first on CCN

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Blue Monday? Trade Figures from China Shake the US Stock Markets, Dow Futures Fall

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New trade data from China is fuelling fears of global recession. Stock markets in Asia and Europe fell in reaction. A premarket drop for Dow futures points to a tough day for the US stock markets. Europe’s leading 300 share index, the FTSEurofirst 300 Index (FTEU3), fell 0.7% in early trading. Asia saw declines with the

The post Blue Monday? Trade Figures from China Shake the US Stock Markets, Dow Futures Fall appeared first on CCN

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Crypto Market Begins to Fall Rapidly Again: Bitcoin Below $3,500

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Bitcoin fell below $ 3,500 as $ 5 billion was wiped out of the crypto market, and major digital assets like Ethereum recorded a six percent drop against the U.S. dollar. The 4.8 percent drop in the combined valuation of all cryptocurrencies in the global market comes after a strong sell-off on January 11. Bitcoin Weakness Expected

The post Crypto Market Begins to Fall Rapidly Again: Bitcoin Below $ 3,500 appeared first on CCN

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Call of Duty Publisher Activision’s Shares Fall on Destiny Departure

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Activision Blizzard shares dropped nearly 10% on Friday after the leading video game publisher announced a split with “Destiny” creator Bungie. The “Call of Duty” and “World of Warcraft” publisher has handed back publishing rights for first-person shooter game “Destiny” to Bungie. The split has been filed with the Securities and Exchange Commission. Bungie will

The post Call of Duty Publisher Activision’s Shares Fall on Destiny Departure appeared first on CCN

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