Bitcoin (BTC) short-term holders have absorbed most of the market’s recent losses, according to the crypto analytics firm Glassnode. The analytics firm defines short-term holders (STHs) as entities that have held their BTC for less than 155 days. Glassnode looks at the 30-day average of the STH Market Value to Realized Value (MVRV) ratio. The …
Monthly archives: August 2024
Bitcoin Price Action Flashing ‘Pretty Bleak Signs,’ Says Analyst Nicholas Merten – Here’s What He Means
A widely followed analyst is saying that Bitcoin (BTC) is sending worrying signals as the flagship crypto asset languishes about 20% below the all-time high reached in March. In a new video, analyst Nicholas Merten tells his 509,000 YouTube subscribers that Bitcoin is showing weakness after failing to overcome a major resistance level after several …
Altcoins Primed for a 2023-Style Bull Run, According to Crypto Trader – Here’s the Timeline
A widely followed cryptocurrency analyst and trader is expressing bullish outlook on altcoins. The analyst pseudonymously known as Sherpa tells his 220,000 followers on the social media platform X that altcoins are likely to experience another rally similar to the one that occurred between November of 2023 and March 2024. On when the next altcoin …
Job data revision exposes softer labor market
Quick Take In economic analysis, monthly data scrutiny is a cornerstone for understanding macroeconomic trends. Both analysts and the Federal Reserve rely heavily on these indicators to gauge financial health and inform policy decisions. The Federal Reserve and Jerome Powell have repeatedly stated they are data dependent. As interest rates have been held at 23-year …
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Former FTX exec files lawsuit as exchange announces reorganization gains support
Bankrupt crypto exchange FTX announced on Aug. 21 that its reorganization plan has garnered strong preliminary support from creditors. According to FTX, over 95% of creditors have endorsed the plan, representing 99% of the claims by value. This broad backing indicates widespread consensus among FTX creditors. FTX CEO John J. Ray III emphasized the significance …
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Institutional interest shifts as Bitcoin ETFs attract capital, Ethereum ETFs continue to bleed
Quick Take Bitcoin On Aug.21, Bitcoin ETFs experienced inflows totaling $39.5 million, according to data from Farside. BlackRock’s IBIT saw an $8.4 million inflow, followed by Fidelity’s FBTC, which saw a $10.7 million increase. Bitwise’s BITB and Invesco’s BTCO also contributed, with $10.0 million and $2.5 million in inflows, respectively. Franklin Templeton added $3.5 million, …
Stabilization of Bitcoin price aligns with equilibrium in Bitfinex interest positions
Onchain Highlights DEFINITION: Analyzing Bitcoin price in relation to Bitfinex long and short interest Bitcoin’s price and total long and short interest show a strong correlation over the past 12 months. As depicted in the chart below, Bitcoin’s price experienced a significant increase from October 2023 through March, coinciding with notable shifts in long and …
Gold-Backed and Ready to Shine: HAQQ Founders Share Story Behind Deenar Stablecoin
HAQQ brings together the most reputable actors of Ethical finance in order to promote community-driven decentralized technologies worldwide. HAQQ is an EVM-equivalent chain, based on Cosmos SDK. The technology behind HAQQ makes it possible for any smart contract created on other EVM chains to be deployed onto the new network without any changes needed. Mohammed …
Hackers Exploit McDonald’s Instagram to Promote Fake Grimace Coin, Netting $700,000 in Solana
Hackers recently took control of McDonald’s official Instagram account to promote a fraudulent Grimace meme coin, successfully scamming users out of $700,000 in Solana. The attackers also compromised the personal X account of McDonald’s Senior Marketing Director to further spread the scam. Grimace Coin, originally created as a meme token inspired by a social media …
Arizona AG Warns Scammers Always Find New Ways to Steal Your Money With Crypto
Arizona Attorney General Kris Mayes has issued a warning about the rising threat of cryptocurrency scams targeting vulnerable individuals, especially seniors. These scams include fraudulent investment schemes, impersonation of businesses or government entities, and blackmail, exploiting the public’s lack of cryptocurrency knowledge. Mayes urged residents to verify suspicious claims, avoid sharing personal information, and report …
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Bitcoin Very Close to a ‘Monumental Breakout,’ Says Crypto Strategist and Trader – Here’s His Outlook
A crypto analyst and trader believes that a “monumental breakout” is just around the corner for Bitcoin (BTC). The analyst pseudonymously known as Rekt Capital tells his 82,400 YouTube subscribers that Bitcoin may be about to enter the parabolic phase of the market cycle based on historical precedence. “And when it comes to breaking out …
Decentralized Exchanges Won’t Go Too Far Without Capital Efficiency
HodlX Guest Post Submit Your Post One main goal of investing is to ensure that your money works for you at all times, whether that’s through a savings account you barely look at or through high-activity stock trading. In the past, a savings account yielding 10 percent was a reliable and safe option for many …
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Lack of Cohesion Hinders AI Adoption in Africa, NEPAD Boss Says
Nardos Bekele, CEO of NEPAD, believes AI can significantly benefit Africa by addressing various challenges and accelerating progress towards Agenda 2063. Although AI offers potential improvements in sectors like health, education, and agriculture, challenges such as fragmented digital infrastructure and ethical concerns hinder its adoption. Africa’s Agenda 2063 According to the head of an African …
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QR Code Scams: TN Attorney General Issues Warning
The Tennessee Attorney General’s Office has issued a QR code scam alert, warning consumers about fraudulent QR codes used in various scams, including fake cryptocurrency investments. Consumers are urged to verify sources, check codes for tampering, and use secure scanner apps. Tennessee Attorney General Warns of QR Code Scams The Tennessee Attorney General’s Office issued …
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Devere CEO Advises Shifting Away From US Assets as Dollar Weakens
Nigel Green, CEO of financial advisory and investment management firm Devere Group, has advised investors to reassess portfolios due to the U.S. dollar’s significant drop, which signals a potential shift in market dynamics. The dollar’s decline could present both challenges and opportunities, he said, advising investors to strategically diversify away from dollar-heavy assets to capitalize …
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