Bitcoin & Crypto Trading

2024-03-21 09:54:37 BTC $67,002.65 • ETH $3,516.04 • FGI 78 (Extreme Greed) - Today’s Update (21/03/2024)

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2024-03-20 15:17:34 Today’s Crypto Update:

• BTC Price Drop: Bitcoin (BTC) experienced a significant decline, dropping over 8%, its largest single-day percentage decrease since November 2022. This marks Bitcoin’s most substantial price correction since the collapse of Sam Bankman Fried’s FTX, with the price falling to under $62,000. Factors contributing to the decline include outflows from spot ETFs, with a record net outflow of $326 million from the spot ETFs on Tuesday, and high leverage in the market.
• New $100 Million Fund: Immutable and venture capital firm King River Capital have launched a $100 million “Inevitable Games Fund” (IGF) focused on Web3 gaming, with support from Polygon Labs. The fund aims to invest in high-growth opportunities in the Web3 gaming sector, capitalizing on the industry’s significant investment attraction since 2018.
• BlackRock’s New Fund: Investment management giant BlackRock has created the BlackRock USD Institutional Digital Liquidity Fund in partnership with asset tokenization firm Securitize. While the specific assets the fund will hold are not disclosed, Securitize’s involvement suggests a focus on the tokenization of real-world assets (RWA).
• Solana vs. Ethereum: In a notable shift, Solana has overtaken Ethereum as the leading smart-contract blockchain by trading volume. Trading volume in Solana-based decentralized exchanges (DEX) has increased by 67% to $21.3 billion, surpassing Ethereum’s DEX volume, which rose by 3% to $19.4 billion. This change, known as the “flippening,” has been driven by speculative interest in Solana-based meme coins.

Latest Prices:

• CoinDesk 20 Index: 2,387 (+0.4%)
• Bitcoin (BTC): $63,179 (+0.8%)
• Ethereum (ETH): $3,252 (+1.3%)
• S&P 500: 5,178.51 (+0.6%)
• Gold: $2,156 (+0.0%)
• Nikkei 225: $2,156 (+0.0%)

Market Insights:
Despite recent market weakness, options traders continue to see higher prices for Bitcoin over the next 90 and 180 days, as indicated by positive three- and six-month call-put skews. This suggests a prevailing optimism for Bitcoin’s future price trajectory.

Daily Chart Analysis:
The chart presents the three- and six-month call-put skews for Bitcoin, highlighting a preference for call options that are set to expire in these periods. This trend indicates that, despite recent market downturns, there is a general anticipation of an increase in Bitcoin’s value over the next 90 to 180 days.

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2024-03-20 12:35:45 Crypto Market Update

• BTC (Bitcoin): $63,065.21 0.81%
• ETH (Ethereum): $3,225.63 1.21%
• BNB (Binance Coin): $531.10 3.72%
• SOL (Solana): $172.06 2.66%
• XRP: $0.5937 1.27%
• ADA (Cardano): $0.6056 0.58%
• AVAX (Avalanche): $53.39 5.85%

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2024-03-20 09:49:23 Your morning crypto news round-up :

• Bitcoin (BTC) is currently priced at $61,880 , following a period of volatility that saw a brief flash crash to around $8,900 on BitMEX and a drop below $65,000 amid record outflows from the Grayscale Bitcoin Trust (GBTC) .
• Standard Chartered has raised its year-end BTC price forecast to $150,000 , despite the “Coinbase premium,” an indicator of retail interest, diminishing as investors take short-term profits .
• The U.S. Department of Justice filed victim impact statements from FTX creditors as the sentencing hearing for Sam Bankman-Fried approaches, with prosecutors advocating for up to 50 years in prison .
• Japan’s Government Pension Investment Fund, the world’s largest state pension fund, is exploring bitcoin for portfolio diversification , signaling growing institutional interest in the cryptocurrency.
• Crypto exchange OKX has ceased support for USDT trading pairs in the EU and EEA, focusing on euro fiat onramps for regulatory compliance and security .
• Polygon Labs paid $4 million to Starbucks for the blockchain-based loyalty program Starbucks Odyssey, which is being shuttered after 18 months, highlighting the challenges and opportunities in blockchain partnerships .
• Bitcoin’s upcoming halving is notable as it’s the first time the price has rallied before the event, with transaction fees representing a significant portion of miners’ revenues and the potential for a highly valuable halving block .

: https://t.me/Bitcoin_Blockchain_Trading

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2024-03-20 09:38:50 BTC $61,838.54 • ETH $3,139.72 • FGI 74 (Greed) - Today’s Update (20/03/2024)

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2024-03-19 15:18:10 • Bitcoin (BTC) experienced a flash crash to $8,900 on BitMEX.
• The drop in BTC prompted $440 million in liquidations across the crypto market.
• Binance is enhancing its KYC process for prime brokers to block U.S. nationals.

Latest Prices:

• Bitcoin (BTC): $63,230, down 7.0%
• Ethereum (ETH): $3,235, down 9.6%
• S&P 500: 5,149.42, up 0.6%
• Gold: $2,158, down 0.1%
• Nikkei 225: $2,158, down 0.1%

Market Insight:

• Japan’s largest pension fund, GPIF, is exploring bitcoin (BTC) for portfolio diversification.

Fact of the Day:

The data indicates that traders have been actively purchasing Solana (SOL) while selling off Ethereum (ETH) over the past week. This is reflected in the increasing trading volume for Solana and the decreasing volume for Ethereum.

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2024-03-19 12:44:11 Crypto Market Watch :

• Bitcoin (BTC): $63,487.71 6.67%
• Ethereum (ETH): $3,253.20 9.12%
• Binance Coin (BNB): $508.93 10.00%
• Solana (SOL): $175.19 14.18%
• XRP: $0.58394070 4.72%
• Cardano (ADA): $0.60557130 10.91%
• Avalanche (AVAX): $56.28 6.67%

Stay tuned for more updates.

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2024-03-19 10:09:32 Crypto News Round-Up :

• Solana’s SOL token surpassed $200 for the first time since November 2021, driven by a meme coin frenzy.
• Fidelity’s Wise Origin Bitcoin Fund (FBTC) joined BlackRock’s iShares Bitcoin Trust (IBIT) as one of the top five most popular exchange-traded funds (ETFs), attracting significant inflows.
• Indonesia reported a surge in cryptocurrency transactions, reaching IDR 30 trillion ($1.92 billion) in February, with the number of crypto investors rising to 19 million.
• Millions of dollars have been sent to meme coin “pre-sales,” sometimes resulting in dire consequences for investors.
• The Bitcoin network is set to undergo its fourth halving next month, sparking discussions about Bitcoin’s changing cultural scene and technical advancements.
• The crypto market sentiment has shifted from surviving the crypto winter to enjoying a bull market, with Bitcoin reaching new all-time highs and Ethereum crossing the $4,000 mark.
• Kalshi, a regulated U.S. prediction market platform, will list betting markets on various crypto price outcomes, including when Bitcoin will reach $100,000 and the potential peak of Ethereum in 2024.
• The culture around Bitcoin is evolving, with a shift from maximalism to a more inclusive and innovative community, as seen with the introduction of the Ordinals protocol and discussions about Bitcoin’s purpose beyond being a savings technology.

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2024-03-19 10:03:09 • BTC slides slightly under $65,000, currently at about $64,830.
• High fees and ETF competition lead to GBTC outflows.
• GBTC outflow hits $643 million on March 18, according to BitMEX research.
• Net outflow from bitcoin ETFs reaches $154 million, with iShares bitcoin ETF (IBIT) seeing the most inflow.
• BTC is down 8.5% over the last week but up 27% in the past 30 days.
• Selling pressure on BTC comes from both GBTC outflows and short-term holders taking profits.

#Bitcoin #GBTC #ETF #CryptoMarket #PricePressure

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2024-03-19 09:57:40 BTC $64,830.78 • ETH $3,369.70 • FGI 79 (Extreme Greed) - Today’s Update (19/03/2024)

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