Chain News by Thebittimes.Com

Following the SEC decision on Bitcoin ETFs and the launch of the market on January 11, the race between asset managers continues to heat up. Invesco, a leading global provider of ETFs, in partnership with Galaxy Asset Management, launched the Invesco Galaxy Bitcoin ETF (BTCO). This move was intended to offer efficient exposure to spot Bitcoin—a different approach to other Bitcoin ETF issuers. To capture a greater share of the Bitcoin ETF market and climb up the ladder—currently ranked 6th—Invesco and Galaxy said on Monday that they are cutting the sponsor fee. The fund’s fee will be slashed from 0.39% to 0.25%, putting it on par with most rivals. At the same time, altcoins sharing the spotlight are Immutable (IMX) and InQubeta (QUBE). These top altcoins have been stirring up quite a buzz thanks to their staggering upside potential. Poised to skyrocket, these are the best cryptos to buy now and altcoins plays not to miss out on. InQubeta (...

GRIID begins trading on NASDAQ post-SPAC merger, enhancing market presence. NASDAQ debut follows a successful merger with Adit EdTech Acquisition Corp. GRIID’s listing underscores the growing integration of cryptocurrency firms into traditional markets. GRIID, a US-based Bitcoin mining company, has officially commenced trading on the NASDAQ Global Market, heralding a new chapter in its journey. Known for its vertically integrated mining facilities leveraging sustainable energy, GRIID’s foray into the NASDAQ marks a notable milestone in the cryptocurrency sector’s intersection with traditional financial markets. The move signifies a pivotal moment for GRIID, emphasizing its strategic expansion and commitment to delivering value to shareholders. GRIID’s SPAC merger GRIID’s NASDAQ listing comes on the heels of a successful merger with Adit EdTech Acquisition Corp, a special purpose acquisition company (SPAC). This strategic move ...

Mike Novogratz expects SEC to approve a Spot Bitcoin ETF this year. Barclays analyst does not expect that to be a huge benefit for Coinbase. Coinbase stock is currently down over 30% versus its year-to-date high. Mike Novogratz – the Chief Executive of Galaxy Investment Partners expects the Securities & Exchange Commission to approve a Spot Bitcoin ETF by the end of this year. Here’s what Mike Novogratz said today on CNBC Last week, the U.S. regulator refrained from appealing a court’s ruling that said it did not have sufficient reason to block Grayscale from converting its flagship trust to an exchange-traded fund. Note that Galaxy itself has filed for a Spot Bitcoin ETF in collaboration with Invesco. On CNBC’s “Squawk Box”, Novogratz said today: Dialogue with SEC is heading in right direction. It is no longer talking how Bitcoin works. It’s just a recognised macro asset and that’s a huge psychologica...

TLDR Bitcoin’s upcoming pre-halving event has set the tone for a rally. The International Monetary Fund (IMF) warns of possible inflation in 2024, which can affect Bitcoin’s rally. Crypto whales seeking ways to diversify their portfolios are looking to NuggetRush for considerable returns. As the pioneering digital asset, the movements of Bitcoin ($BTC) can sway the entire crypto market, dictating trends and influencing investment strategies. Recently, the crypto community has been abuzz with talk of a Bitcoin rally, which has rekindled the industry’s excitement and curiosity.  Amidst this Bitcoin resurgence, the intersection of its rally with the trajectory of NuggetRush (NUGX) sets the stage for intriguing exploration by crypto whales. NuggetRush is a meme coin that distinguishes itself through its blend of gaming, real-world impact, and a passionate community. The project stands at the forefront of crypto innovation, usin...

On September 28, the U.S. Securities and Exchange Commission (SEC) filed critical documents related to pending spot Bitcoin exchange-traded funds (ETFs). These filings serve as formal orders initiating proceedings to determine whether proposed rule changes should be approved or rejected. If these rule changes receive approval, it could open the door for spot Bitcoin ETFs to be traded on commodities exchanges, marking a significant development in the cryptocurrency market. The SEC is now inviting public comments on various aspects of these pending Bitcoin ETFs through these filings. In the first SEC tion, the SEC seeks opinions on whether the proposed spot Bitcoin ETFs are susceptible to fraud and market manipulation or have mechanisms to prevent such issues. In another SEC tion, the SEC solicits input on specific characteristics of Bitcoin, including its geographically distributed trading activity, relatively slower transaction speed, and the amount of capital required for subst...

Despite the rally in Bitcoin that has seen prices jump around 27% since the start of the year, on-chain data suggests that Bitcoin whales are not using the pump as an opportunity to sell their holdings. According to some analysts, this is a sign of confidence that the recent rally signals the start of a longer-lasting bull market. According to data from crypto analytics firm Glassnode, the number of Bitcoin addresses holding between 1,000 to 10,000 Bitcoins (or so-called whale addresses) has remained broadly steady at just above 1,900 since the start of December. Shark bitcoin addresses, which hold anything between 100 to 1,000 Bitcoins, have also held steady in number in recent weeks. According to Glassnode, there was last around 14,000 of them. The Fish and Crabs Have Been Accumulating Bitcoin bulls will be pleased to know that two important address cohorts have continued to accumulate the world’s largest cryptocurrency by market capitalization in recent week...

Source: TradingView The bitcoin price has remained flat in the past 24 hours, sticking to its $16,796 from yesterday while the wider market teeters downwards slightly. Its current price marks a 1% increase in a week, although the world's first cryptocurrency is down by 1.5% in a month and by 75% compared to its all-time high of $69,044, set back in November 2021. Despite the ongoing stagnation, more than a few figures within the cryptocurrency industry have been predicitng that bitcoin will enjoy significant gains this year, with some going even so far as to set a target of $250,000. However, other experts believe that BTC will experience a few more falls before it sees light at the end of the tunnel, with analyst Clem Chambers forecasting a bottom of $13,000. Bitcoin Price Forecasts For 2023 Are In and Here’s What The Bulls and Bears Think BTC's technical indicators suggest that it should be due a rally sooner or later, with its relative strength index (pur...

During the Asian session on December 19, Bitcoin is trading at $16,700, as investors appear to be waiting for a solid fundamental reason to drive price action. Similarly, Ethereum is trading in a choppy range of $1,150 to $1,200. A break out of this range will help us determine future market price movements. Major cryptocurrencies were trading in the red early on December 19, despite the fact that the global crypto market cap grew 0.60 percent to $812.94 billion on the previous day. The entire cryptocurrency market volume for the last 24 hours is $21.44 billion, a decline of 23.51 percent. The overall volume in DeFi was $1.17 billion, accounting for 5.46 percent of the total 24-hour volume in the crypto market. The overall volume of all stablecoins was $19.30 billion, accounting for 90.04 percent of the total 24-hour volume of the crypto market. Crypto Whales offloaded 280k BTC in 30 days The biggest Bitcoin (BTC) holders, called "whales," have been sellin...

On December 10, the BTC/USD pair continued to consolidate in a narrow range of $16,000 to 17,350. Stronger-than-expected US PPI figures from the Bureau of Labor Statistics have kept Bitcoin's uptrend limited. US PPI Accelerated Unexpectedly in November The producer price index rose 0.3% from October to November, exceeding the 0.2% estimate, while the October figure was revised up to 0.3% from 0.2%. The unstable price of food and energy exacerbated the situation; without those two components, the producer price index's "core" increased by 0.4%, the most since June. The cryptocurrency market reacted negatively to the report, which was interpreted as making it more difficult for the Federal Reserve to pause and eventually stop raising interest rates this year. BTC/USD is also falling as a result of the announcement. Binance and Crypto.com Publish Proof-of-Reserve Audits This week, two cryptocurrency exchanges made proof-of-reserves available to demons...

On Tuesday, the BTC/USD pair fell to a support area of $16,900, and the closing of candles above this level is making Bitcoin price predictions bullish.  Aside from the technical aspects, Bitcoin's Lightning Network is making headlines, has a positive impact on BTC adoption and, ultimately, demand, and has the potential to drive BTC prices higher. In reaction to Michael Saylor's Lightning Network pool, a Bitcoin advocate on Twitter going by the name of ShireHodl, or simply Shire, sent over 110 micropayments to first-time Bitcoin Lightning users. Shire urged anyone unfamiliar with Lightning to download a Lightning wallet from App Store or Google Play Store and to email him a QR invoice. Shire used his camera to scan the invoice's QR code, and the Bitcoin Lightning Network processed the payment.  Before going to bed, Shire Tweeted that he would send one thousand sats to as many individuals as he could be bothered with.  Shire stated, "I've sent ou...

Source: Diko163/Adobe A South Korean man was handed a host of punishments after a court found him guilty of buying narcotics online – using bitcoin (BTC). News1 reported that the man, aged 43 but unnamed for legal reasons, was convicted by a branch of the Chuncheon District Court Criminal on charges of violating drug management laws. The court heard that the man had bought methamphetamine (also known as crystal meth) on a total of eight occasions from August 13, 2020, to April this year. In each case, the man paid dealers in bitcoin. The presiding judge, Song Jong-seon, handed the man a 10-month suspended jail sentence, in addition to three years of probation. The man was also ordered to attend a 40-hour drug treatment course and pay a fine of almost $2,190. South Korea’s Crackdown on BTC-powered Drug Trading South Korea has some of the strictest narcotics laws in the world. But – until recently – the police had found themselves outwitted by t...

Source: AdobeStock / phonlamaiphoto Bitcoin (BTC) mining firm Core Scientific could be next in line for a bankruptcy filing, after posting a loss of well over $400m in the third quarter. The company, which is known as the largest publicly listed Bitcoin miner in the US, has now lost a whopping $1.7bn for the year after a new SEC filing revealed a third quarter loss of $434m. “Management has been actively taking steps to decrease operating costs, eliminate and delay construction expenses, reduce and delay capital expenditures and increase hosting revenues,” the company commented in the latest filing. It added that certain debt payments that were due in October this year have not been made, and said it expects creditors to take legal actions against it as a result. Core Scientific in October admitted that it was about to run out of money, and said at the time that bankruptcy is a possibility. The company has already engaged the law firm Weil, Gotshal & ...

Brian Armstrong. Source: a video screenshot, CNBC / YouTube As major crypto exchanges are intensifying efforts to assure customers and investors of their stability, Brian Armstrong, the CEO of Coinbase, has revealed that his company holds crypto reserves that include some BTC 2 million worth about $39.9 billion.  “We hold ~2M BTC. ~$39.9B worth as of 9/30,” the CEO tweeted , making a reference to the company’s disclosed financial results for the third quarter of this year.  “We all need to come together to build this industry in a responsible way going forward. Be wary of false information,” according to Armstrong.  The businessman also referred his followers to Coinbase’s shareholder letter for the same period of 2022.  Amid a crypto market downturn, Coinbase has posted disappointing results for the July-September 2022 period, as the business reported a net loss of some $545 million.  “Q3 was a mixed...

A few hours ago, Bitcoin attempted to break the $17,000 barrier but was stopped by the release of UK inflation figures. Most alternative cryptocurrencies are also slightly down today. SBF, the former CEO of FTX, has been venting on Twitter about how he plans to make customers whole and how he plans to revive his cryptocurrency businesses. Bitcoin is currently trading at $16,740 after starting the day at $16,886. It has hit a high of $17,002 and a low of $16,761.  The recent Russia-Ukraine conflict has caused a drop in the cryptocurrency market. Let us take a look. Ukraine Conflict Escalation Fears Send Prices Lower The main worry about the war in Ukraine is that it may escalate into a larger confrontation between Moscow and the US-led NATO alliance. The fatal missile strike on a Polish village on the Ukrainian border has clarified that fear. At 3:40 p.m. on Tuesday, a missile hit Przewodów, a town in southeastern Poland not far from Ukraine's border,...