The Bitcoin market is grappling with a significant shift in momentum as selling pressure intensifies, giving bears the upper hand. The prominent asset manager, Grayscale, known for overseeing the Grayscale Bitcoin Trust (GBTC), is playing a pivotal role in driving this trend. While initial excitement over spot Bitcoin ETFs led
Grayscale has experienced massive losses amounting to billions of dollars. Total platform outflows reached approximately $2.2 billion on the fifth trading day of spot Bitcoin ETF, with Grayscale seeing a substantial outflow of $579.6 million. Grayscale has deposited 63,991 Bitcoin, worth about $2.68 billion, according to statistics from Lookonchain. It
With five trademark applications pertaining to blockchain technology and cryptocurrencies that are still active from 2022, the United States House Financial Services Committee is pressuring Meta to reveal any intentions it may have about blockchain technology and cryptocurrencies. The trademark applications were filed on March 18, 2022. In a letter
A market sizing analysis from crypto exchange Crypto.com states that by the end of 2023, more than half a billion individuals have become users or owners of cryptocurrencies. From 432 million in 2022 to 580 million in 2023, the number of crypto users worldwide jumped 34%, according to the company’s
The co-founder of BitMEX, Arthur Hayes, recently predicted that Bitcoin prices would go under $40,000 in a fresh forecast made on Monday. The approaching US Treasury quarterly refunding statement and a long-term projection of $5,000 for Ethereum (ETH) and $200 for Solana (SOL) have both contributed to the shift in
Crypto Quant reports that as of January 19th, issuers of spot Bitcoin ETFs had over 638,000 bitcoins in their possession. This amounts to almost $27 billion in fiat currency. Grayscale Bitcoin Trust (GBTC) has the biggest amount of Bitcoin—566,973 BTC. Next in line with 28,662 BTC is BlackRock’s iShares spot
The cryptocurrency market is abuzz with anticipation as Bitcoin, the pioneer of digital assets, sets its sights on a significant milestone. The question on everyone’s mind is whether Bitcoin will achieve the much-discussed $100,000 mark by the year 2024. While Bitcoin’s journey to this valuation has been a topic of
A distinct account for the impending payments function has been established by Elon Musk’s “everything app” X (previously Twitter), leading the crypto community to speculate about the prospective application of cryptocurrencies. Many are waiting for the X app to launch its in-app payment features by the middle of 2024. The
A security issue affecting over 66,000 customers was recently reported by Trezor, a manufacturer of crypto hardware wallets. Concern among those involved with digital assets has been heightened by the announcement of this occurrence on January 20. The contact information of users who have interacted with the support staff since
The hash rate on the Bitcoin network has surpassed 500 exahashes per second, setting a new all-time high. A significant rise in the computational power guarding the blockchain is shown by this development. The hash rate is a measure of the computing power allocated to the Bitcoin network; it shows
