CryptoNew

Data shows top traders futures’ Bitcoin long-to-short at the lowest level in 30 days, but what does this mean for BTC's short-term price action. Bitcoin ( BTC ) has experienced a remarkable 15.7% price surge in the first six days of December. This surge has been heavily influenced by the anticipation of an imminent approval of a spot exchange-traded fund (ETF) in the United States. Senior Bloomberg ETF analysts have expressed a 90% probability for approval by the U.S. Securities and Exchange Commission, which is expected before Jan. 10. However, Bitcoin’s recent price surge may not be as straightforward as it seems. Analysts have failed to consider the multiple rejections at $37,500 and $38,500 during the second half of November. These rejections have left professional traders, including market makers, questioning the market’s strength, particularly from the perspective of derivatives metrics. Bitcoin’s 7.6% rally to $37,965 on Nov. 15 resulted in disappointment as the movemen

Ethereum price is up today as network revenue skyrockets and ETH clears the $2,300 resistance. Ether ( ETH ), the native token of the Ethereum network,  is witnessing a breakout on the back of increasing institutional interest in the second-largest cryptocurrency by market cap. The increased bullish sentiment pushed Ether price up by 23.7% over the past 30 days. The fact that ETH trades above $2,300 could indicate that increased attention is shifting toward Ether. Year to date, ETH price is up by 96.5%.  Let’s review a few of the reasons for Ether’s price strength. A surge in traders’ interest in Ether began on Nov. 1 when the U.S. Securities and Exchange Commission ( SEC ) acknowledged Grayscale Investment’s application to convert its Ethereum trust into an ETF. Read more

Jamie Dimon has previously referred to cryptocurrencies as “decentralized Ponzi schemes” and Bitcoin as a “fraud.” JPMorgan Chase chair and CEO Jamie Dimon told several United States lawmakers that if he had the authority in government, he would try to shut down crypto. In a Dec. 6 hearing of the Senate Banking Committee on oversight of Wall Street Firms, Dimon responded to questioning from Massachusetts Senator Elizabeth Warren, who claimed North Korea had funded much of its missile program using “proceeds of crypto crime” in addition to funding Hamas. The JPMorgan Chase CEO said he had “always been deeply opposed to crypto” and associated digital assets with “criminals” and “drug traffickers” in addition to tax avoidance. "If I was the government, I'd close it down," said Dimon. Read more

Executives working in the gaming industry weighed in on potential Web3 gaming trends in 2024. In this week’s newsletter, read about how Michael Jackson’s first recording is coming to the blockchain and why the nonfungible token (NFT) lending protocol ParaSpace was rebranded to Parallel Finance. Check out how the Rarible ecosystem is furthering its commitment to royalty enforcement, and find out what executives working in the gaming industry think about the future of blockchain gaming in 2024.  An NFT of a track titled “Big Boy (One-Derful Version),” by Michael Jackson, will hit the blockchain through the music platform Anotherblock. The track is the first-ever studio recording of a young Michael Jackson.  The track was recorded in 1967 when an eight-year-old Michael Jackson recorded his inaugural studio session at One-Derful in Chicago with his brothers. Anotherblock CEO and co-founder Michel Traore told Cointelegraph that dropping the track on-chain will elevate the song beyond be

The platform allows clients to compare and benchmark quantum and classical algorithms for a given task. According to the Moody’s Analytics website, QFStudio is a software-as-a-service (SaaS) offering that will serve as “a continuous integration, benchmark, and delivery platform” for quantum computing solutions. The burgeoning quantum computing sector is expected to experience steady growth over the next few decades. A recent forecast predicted that quantum computing technologies would grow from a market capitalization in the United States of about $138 million in 2022 to $1.2 billion by 2030. Currently, most of the focus in quantum computing is on research and development. Companies such as IBM, Microsoft, Google, D-Wave and Rigetti have quantum, cloud-based quantum and hybrid quantum computing offerings on the market, but most of these solutions are geared toward early movers exploring use cases. Read more

Bitcoin is witnessing profit-booking by short-term holders, but institutional investors continue to put money into BTC investment products. Bitcoin ( BTC ) has been on a tear, rising more than 10% this week. This shows that traders are urgently scrambling to buy Bitcoin as they anticipate the price to rally further. CoinShares data shows that investors have pumped in more than $1.44 billion into Bitcoin investment products in the past ten weeks. The expectation is that the approval of a spot Bitcoin exchange-traded fund (ETF) will attract huge investments. Animoca Brands CEO Robby Yung, while speaking at the Next Block Expo conference in Berlin, said that Bitcoin ETFs could generate a potential income of “$10 to $12 billion.” While long-term investors have been accumulating Bitcoin, the short-term holders (STHs) holding coins for 155 days or less have been busy booking profits in December. CryptoSlate research and data analyst James Van Straten, while sharing a Glassnode chart on

Bitcoin price is up today as institutional investor inflows and traders’ belief that a spot BTC ETF approval is on the way boosts bullish momentum. Bitcoin ( BTC ) price is up today, topping $44,000 for the first time in over 19 months. The rally highlights traders’ continued bullish bias for Bitcoin , which produced the best November performance since 2020.  The most likely catalyst for Bitcoin’s rally to $44,000 is the markets’ belief that a spot BTC exchange-traded fund ( ETF ) will be approved in January 2024 and this is bringing significant cash inflows from institutional investors . Bitcoin price. Source: TradingView Now that BTC has notched its best monthly close in 19 months, let’s look into the reasons why Bitcoin price is up today. Centralized exchange volumes return to norm Initially, Bitcoin price flashed mixed signals after former Binance CEO Changpeng “CZ” Zhao’s guilty plea and the exchange agreed to pay a $4.3 billion settlement to the U.S. Leaders in the cr