First Republic Bank dives another 20% with Bitcoin ‘ready for $40K’

Bitcoin (BTC) tagged $30,000 into the April 26 Wall Street open as bulls gained further momentum from United States banking woes. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Hayes: “Uncertainty” driving BTC price, gold Data from Cointelegraph Markets Pro and TradingView followed as it briefly reclaimed the psychological line in the sand, capping 11% gains … Read more

Bitcoin nears worst monthly losses since 2011 with BTC price at $19K

Bitcoin (BTC) drifted further downhill into the June 30 Wall Street open as United States equities opened with a whimper. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. dollar returns to multi-decade highs Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it abandoned $19,000 to hit its lowest in over ten days. Bulls failed … Read more

New spot Bitcoin ETF launched at Euronext Amsterdam Exchange

Major Dutch stock exchange Euronext Amsterdam, a part of the pan-European marketplace Euronext, is debuting its first Bitcoin (BTC) exchange-traded fund (ETF). Jacobi Asset Management, a London-based digital asset management platform, is preparing to launch its Jacobi Bitcoin ETF on Euronext Amsterdam next month, the firm announced on Thursday. The spot Bitcoin ETF will start trading … Read more

Goldman Sachs downgrades Coinbase stock to ‘sell’

Shares of Coinbase Global Inc. (COIN) have been downgraded by analysts at Goldman Sachs after plunging cryptocurrency prices affected the exchange’s underlying business, underscoring the challenges posed by the bear market.  The reason for the downgrade stems from the “continued downdraft in crypto prices,” Goldman analyst William Nance said in a note that was obtained … Read more

On the brink of recession: Can Bitcoin survive its first global economic crisis?

Bitcoin (BTC) was a response to the 2008 global recession. It introduced a new way to transact without depending on trust of third-parties, such as banks, particularly failing banks that were nevertheless bailed out by government at the expense of the public.  “The central bank must be trusted not to debase the currency, but the … Read more

Is there a way for the crypto sector to avoid Bitcoin’s halving-related bear markets?

There is good reason to be afraid. Previous down markets have seen declines in excess of 80%. While tightfisted hodling might hold wisdom among many Bitcoin (BTC) maximalists, speculators in altcoins know that diamond handing can mean near (or total) annihilation.  Regardless of one’s investment philosophy, in risk-off environments, participation flees the space with haste. … Read more

FTX US acquires Embed Financial subsidiary for stock trading platform

The United States-based subsidiary of cryptocurrency exchange FTX will acquire Embed Financial Technologies as part of a deal aimed at “enhancing” the company’s stock offering. In a Tuesday announcement, FTX US said it will purchase Embed Financial Technologies and its subsidiary, clearing firm Embed Clearing, for an undisclosed amount “pending satisfaction of customary closing conditions … Read more

ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K

The firm behind one of the first Bitcoin futures-linked exchange-traded funds in the United States will give investors a new vehicle to bet against the price of the cryptocurrency. In a Monday announcement, exchange-traded fund issuer ProShares said its Short Bitcoin Strategy ETF would be available for trading on the New York Stock Exchange, or … Read more

‘Worst quarter ever’ for stocks — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week still battling for $20,000 support as the market takes in a week of severe losses. What felt all but impossible just weeks ago is now reality as $20,000 — the all-time high from 2017-2020 — returns to give investors a grim sense of deja vu. Bitcoin dipped as low … Read more

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A report from S3 Partners noted that crypto stocks with the highest short interest include Coinbase, Marathon Digital and MicroStrategy. Short-sellers have made a killing on various sectors of the U.S. stock market this year, but no other sector “held a candle” to the blockchain industry, with crypto company short-sellers profits up 126% in 2022, … Read more