Mina’s Foundation, MINA, has been bullish since December 19 due to multiple fundamental developments that increased investor confidence. On the other hand, Optimism (OP) gained traction within the Web3 gaming industry in December 2023 and is poised for massive growth. Yet, NuggetRush (NUGX) is a play-to-earn (P2E) hidden gem that integrates mining adventures with NFTs […]
The post Venturing Past MINA and Optimism: Unearthing Hidden Gems for Crypto Investment appeared first on CoinChapter.
Ardoino talks about his new position at Tether, the firm’s plans, Bitcoin halving and ETFs, and more.
VanEck’s Head of Research, Matthew Sigel, recently hinted that the Spot Bitcoin ETF of the world’s asset manager, BlackRock, could see a record-breaking amount of inflows upon launch. This comes as an approval order by the Securities and Exchange Commission (SEC) looks imminent. BlackRock’s Bitcoin ETF Could See Inflows Of Over $2 Billion Sigel mentioned on an X (formerly Twitter) space hosted by the media platform, The Block, that he heard from a reliable source that BlackRock has “more than $2 billion lined up in week one.” Related Reading: Shiba Inu’s Shibarium Hit Major Milestone Amid Rapid Network Recovery This investment capital is said to be coming from existing Bitcoin holders who are looking to increase their exposure to the flagship cryptocurrency. He quickly added that he couldn’t be 100% certain of this information. However, it is a possibility, considering that issuers would be looking to get investors that can inject huge sums into their respective ETFs. Sigel went on to highlight how significant it could be if BlacRock’s ETF indeed saw $2 billion of inflows in the first week of trading, saying that it would “blow away” their initial projections. They estimate that the Spot Bitcoin ETFs could see $2.5 billion of inflows in the first quarter of trading. Meanwhile, they believe the market could grow to $40 billion in the next two years. BTC price struggles to reclaim $44,000 | Source: BTCUSD on Tradingview.com Not Out Of Place For BlackRock Commenting on the possibility of BlackRock seeing this significant amount of inflows, Bloomberg analyst Eric Balchunas noted that such an occurrence isn’t unusual for the world’s largest asset manager. According to him, BlackRock is known for lining up and injecting big cash into new ETFs on the first day of trading. That way, it registers as volume for them. Related Reading: New Report Predicts When The XRP Price Will Cross $1.56 Balchunas further noted that BlackRock’s Bitcoin ETF, seeing $2 billion of inflows, would shatter all records relating to first-day and week volume for an ETF. Interestingly, BlackRock already holds the record for the most successful ETF launch going by the amount of inflows recorded on day one. The world’s asset manager further dominates the top 10 list of most successful ETF launches. Balchunas, however, clarified that those inflows were mainly lined up cash and not organic, as they were readily available before the ETF launched. He also mentioned that he got a second source to confirm Sigel’s claims that BlackRock has a big day one lined up. Meanwhile, the Bloomberg analyst provided an update on when the approval order from the SEC was likely to come. Citing multiple sources, he stated that the SEC is lining up all issuers for a potential launch on January 11. Featured image from Decrypt, chart from Tradingview.com
This year, the spot Bitcoin ETF approval by the US Securities and Exchange Commission (SEC) is deemed certain by just 39% of financial advisors, according to a recent survey. The survey’s findings demonstrate that financial advisors are generally skeptical of the commission’s decision to approve a spot Bitcoin exchange-traded fund (ETF). There are several reasons […]
The post The titans of Bitcoin: Who holds the most BTC in 2024 appeared first on CryptoSlate.
Eleven asset managers are poised to launch a Bitcoin ETF next week. Which has marketed their product the best?
BitMEX co-founder, Arthur Hayes, has published a blog post predicting a specific price correction for Bitcoin following the introduction of the highly anticipated Spot Bitcoin ETF. Bitcoin Price Correction Forecast The former chief executive officer of BitMEX, Hayes has shared valuable insights on the potential price impact for Bitcoin following the approval of Spot Bitcoin […]
The following is a guest post by Kadan Stadelmann, CTO at Komodo Blockchain. A great debate on Bitcoin Ordinals, essentially NFTs on the Bitcoin blockchain, has broken out. One side of the debate believes there is no place for Ordinals on the Bitcoin blockchain. The other side believes ordinals are the perfect innovation for the […]
The post Op-ed: Bitcoin community must not allow let Ordinals debate cause division appeared first on CryptoSlate.
The Taker Buy Sell volume ratio staying below one indicates that sell volume is dominating the market as investors focus on realizing profits from the recent rallies.
The past week was largely defined by the Bitcoin price climbing above $45,800 for the first time in over 20 months, marking a great start to the year. However, the premier cryptocurrency soon experienced a sharp price pullback due to negative news about the BTC spot (ETF). Interestingly, the latest on-chain data has revealed that investors seem not to have completely lost faith in Bitcoin, the largest cryptocurrency by market capitalization. $2.5 Billion Flows Into Crypto Market Following Bitcoin Crash In a post on the X platform, crypto analyst Ali Martinez has offered on-chain insight into the aftermath of the crash that affected Bitcoin and the entire crypto market. The pundit noted in his post that a substantial amount of funds flooded back into the sector a day after the market downturn. Related Reading: Whale Watch: Bitcoin’s $100,000 Transactions Soar, More Surge Ahead? This revelation was based on on-chain data from blockchain analytics platform Glassnode. The relevant indicator here is the “positive 30-day capital inflows”, which tracks the net influx of capital into the crypto market over a 30-day period. Chart showing aggregate market realized value net position change | Source: Ali_charts/X The chart above shows that a significant amount of funds have been entering the cryptocurrency market over the past few months. According to Glassnode’s data, more than $2.5 billion flowed back into the cryptocurrency market on Thursday, January 4, bringing the positive 30-day capital inflows to about $27.5 billion. This latest inflow of capital into the market offers insight into the positive shift in sentiment and market condition. It basically signals renewed investor confidence in crypto assets following a short period of uncertainty and price correction. As of this writing, the Bitcoin price stands at $43,661, reflecting a 0.2% decline in the past 24 hours. However, the market leader seems to be recovering well, with $44,000 not too far out of reach. How BTC Holders Reacted To The Market Downturn A recent analysis shows how various classes of Bitcoin investors reacted to the negative ETF news and the subsequent decline. This evaluation was based on the Spent Output Age Bands USD (SOAB) indicator on the CryptoQuant analytics platform. Related Reading: Solana Co-Founder: The Blockchain Doesn’t Need Layer-2s Like Ethereum The investors were divided into five classes based on the age of their holdings. According to the analysis, short-term holders who fell within the 1-week-to-1-month and 1-month-to-3-month classes exited the market at break-even and profits, respectively. Meanwhile, long-term holders who purchased Bitcoin in the first half of 2023, falling between the 6-month-to-12-month class, dumped about $7.6 billion worth of BTC. The 1-year-to-5-year holder class, on the other hand, barely made a move after the market downturn. Bitcoin price at $43,690 on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView