BlackRock CEO Larry Fink, during the Q3 2024 earnings call, described Bitcoin as a “core asset class,” signalling a major shift in the perception of cryptocurrencies by one of the largest asset managers in the world. Bloomberg ETF analyst Eric Balchunas shared Fink’s full quote from the earnings call, where
On Monday, Mike Novogratz’s Galaxy Digital moved enormous quantities of Ethereum and Bitcoin, causing further commotion in the crypto market. Speculation among investors was sparked when on-chain data revealed that the digital assets financial services business transferred more than 7,000 ETH and 500 BTC between cryptocurrency exchanges. In the meantime,
On the last day, when the price of Bitcoin rose, crypto derivatives traders who had bet on a decline in the market were liquidated for almost $100 million. Following a range-bound weekend, Bitcoin reached $66,000 today, gaining 5.73% on the previous day. Bitcoin’s price returned to levels not seen since
Global crypto funds managed by asset giants such as BlackRock, Bitwise, Fidelity, Grayscale, and ProShares experienced net inflows of $407 million last week, according to CoinShares. This marked a sharp reversal from $147 million in outflows the previous week. The inflows were primarily driven by U.S.-based funds, which contributed $406
Bitcoin (BTC) mining profitability took a hit in September 2024, as rising network difficulty and a steady Bitcoin price put pressure on miners. U.S. investment bank Jefferies highlighted that the network’s hashrate saw a 1.7% increase, making it tougher for miners to generate rewards despite Bitcoin’s value remaining mostly unchanged.
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Germany’s Samara Asset Group (AG) has announced plans to invest up to €30 million in Bitcoin. This move is part of a broader strategy to increase its exposure to the cryptocurrency market. Samara AG is following a similar path to that of MicroStrategy, a company known for its significant Bitcoin
The cryptocurrency market is attempting to recover from the downside trajectory. Overall market cap has reached $2.24 trillion within the past 24 hours. The recent price momentum of Bitcoin (BTC) suggests the brief possibility of further gains. After dipping below the major support levels, BTC has moderately rebounded in the
US spot Bitcoin exchange-traded funds had net inflows of $253.6 million on October 11, after a string of three trading days in which they had seen withdrawals. Farside Investors data reveals that the top two bitcoin funds in terms of net inflow were the Fidelity Wise Origin Bitcoin Fund with
After a week marked by mixed sentiments, the cryptocurrency market has bounced back positively, particularly following the release of the Consumer Price Index (CPI) data for September. The CPI rose by 0.2%, while the core CPI increased by 0.3%, both exceeding expectations. This data has led analysts to believe that
