Bitcoin perpetual futures have been signaling growing market pessimism, as funding rates for these contracts have remained persistently below neutral. This trend indicates a bearish sentiment among traders and reflects a broader cautious outlook on Bitcoin’s price movements. Recent insights from K33 Research underscore that these low funding rates suggest
Zürich Cantonal Bank, the fourth-largest bank in Switzerland, has officially entered the cryptocurrency market. According to the announcement on September 4, ZKB is allowing its clients and third-party banks to trade and store cryptocurrencies like Bitcoin and Ethereum. Further, the bank’s offerings are integrated with its existing digital platforms, ZKB
We are happy to inform that TestBTC may now be bridged to Flare Coston using FAssets, developed by Flare Labs. The following functionalities are now available to users at https://fasset-beta.flarelabs.org: With the addition of FBTC compatibility to Bifrost Wallet, TestBTC holders may now participate easily. The most recent asset added to the
21Shares has officially launched 21BTC, a new Bitcoin wrapper on the Ethereum network. This product allows users to access Bitcoin’s value while utilizing the diverse functionalities of Ethereum’s decentralized finance (DeFi) ecosystem. By introducing 21BTC, 21Shares aims to bridge the gap between the two most dominant cryptocurrencies, offering a unique
Crypto traders have inclined their attention towards Bitcoin in the past month anticipating for price recovery. The cryptocurrency, on the other hand, showed redundant struggles to break resistance beyond $65K. Prices have consolidated at the $59K level since August. In the last 24 hours, Bitcoin prices revisited support levels at
On September 1, 2024, the hashrate of the Bitcoin network, which is the total computing power used to secure the Bitcoin network, hit a new record high of more than 742 exahashes per second (EH/s). As expected given the ongoing trend toward application-specific integrated circuits (ASICs) and other forms of
According to BitMEX co-founder and former CEO Arthur Hayes, Bitcoin prices may not react positively to interest rate reduction from the Federal Reserve. According to a post by the Maelstrom chief investment officer on X on September 2, Bitcoin values have been struggling and declining since Federal Reserve Chair Jerome
As of September here, the anticipation is high that the Federal Reserve’s Federal Open Market Committee (FOMC) meeting, scheduled for 17 and 18 of this month, might decrease the federal funds rate. Notably, the prediction platform, Polymarket, traders are betting on the federal rate cut with a $10.9 million volume.
Historically, September has been a challenging month for financial markets, including the cryptocurrency sector. Over the past decade, Bitcoin (BTC) has declined during September in 8 out of 11 years, with an average drop of around 8%. This pattern aligns with broader market trends, as September tends to be bearish
The Bitcoin-based DeFi industry is heading for a shakeup following news that BitGo, creator of the “Wrapped Bitcoin” or wBTC token that’s used to represent BTC on the Ethereum blockchain, is working with new custodians in Hong Kong and Singapore. As experienced DeFi stalwarts will know, wBTC provides users with
