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While unlikely, Bloomberg’s ETF analysts conceded that there’s always a possibility that SEC Chair Gary Gensler could be waiting until the last moment to deny the flurry of pending spot Bitcoin ETF applications. There’s a slim chance the United States Securities and Exchange chief Gary Gensler could pull the plug on spot Bitcoin (BTC) exchange-traded funds in one “amazingly sadistic” move, according to Bloomberg ETF analysts .  In an Oct. 31 tweet directed at senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, ETF commentator Dave Nadig posed whether Gensler may be allowing for spot Bitcoin ETF applications to pile up just to deny them all at once in a “semi-comedic rug-pull.” “I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull,” said Nadig. I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comed...

The Michael Saylor-led software firm has made $132 million in unrealized profits from its Bitcoin bet. MicroStrategy's Bitcoin (BTC) holdings have turned profitable for the first time since July this year as the BTC price has broken through above $30,000. MicroStrategy up $132M in paper profits As of Oct. 23, MicroStrategy held 158,245 BTC worth $4.847 billion, up about $132 million from the original amount invested — at an average rate of 29,870 per BTC. In other words, the firm is now up at least $130 per coin. MicroStrategy Bitcoin holdings as of Oct. 23. Source: BlockchainCenter.Net MicroStrategy started buying Bitcoin in 2020. The firm ramped up purchases in 2023 as BTC's price recovered from extreme losses caused by the Federal Reserve's rate hike policy and high-profile crypto bankruptcies and implosions. In September 2023, MicroStrategy acquired 5,444 BTC by raising an equivalent amount of capital, mirroring the approach that saw the firm buying approximately 12,33...

The latest episode of The Market Report analyses the recent Bitcoin price correction to $26,000 and what it reveals about the current market structure. In the latest episode of Cointelegraph’s The Market Report, analyst Marcel Pechman delves into Bitcoin’s recent drop to $26,000. Derivatives market Analysis shows Bitcoin (BTC) options and futures metrics lack signs of professional traders going bearish, and while that doesn’t guarantee a quick return to $29,000 support, it reduces the chances of an extended correction . Pechman presents a Kaiko data chart on BTC liquidity and volatility, which significantly decreased since the FTX collapse in November 2022. And with no liquidity issues or heightened volatility indicated, did the 11.4% mid-August price drop worsen conditions due to the largest futures liquidations since November 2022? Bitcoin futures premium settled at a neutral 6% after the recent $26,000 crash, signaling balanced demand between leveraged longs and shorts. This al...

A tale of two types of Bitcoin investor emerges, as BTC price action separates "sensitive" speculators from seasoned hodlers. Bitcoin (BTC) holdings owned by speculators are nearly 90% in the red after the “flash crash” to $26,000, new research says. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode reveals the true cost of last week’s BTC price dip to newcomers. Short-term holders "increasingly sensitive" to BTC price While only totalling around 10%, the drop on BTC/USD seen toward the end of last week upended market sentiment. As BTC price predictions focus on $25,000 and even lower, the dust is settling on a trading environment accustomed to months of sideways behavior. Arguably nowhere is this more visible than among short-term holders (STHs) — the more speculative end of the hodler spectrum. Glassnode defines an STH as an entity holding onto BTC for 155 days or less. Its counterpart is the long-term holder (LTH), mo...

Bitcoin is searching for stability in the $25,000 zone, meanwhile, HBAR, OP, INJ and RUNE price looked primed for further upside. Trader sentiment has turned bearish following Bitcoin’s (BTC) 11% slump this week. Although Bitcoin is taking support near $25,000, several analysts are factoring in another leg down toward the crucial $20,000 level. The weakness is not limited to the cryptocurrency markets alone. United States equities markets also witnessed a losing week. The S&P 500 Index fell 2.1% and the Nasdaq Composite dropped about 2.6%, both indices recording a three-week losing streak. This suggests that traders are in a risk-off mode in the near term. Crypto market data daily view. Source: Coin360 The fall in Bitcoin dragged several altcoins lower, indicating a broad-based sell-off. However, amongst the sea of red, there are a few altcoins that have stood out either by bouncing off strong support levels or by continuing their up-move. Let’s study the charts of the top-5 cryp...

BTC price action is "slower than ever" this weekend, but Bitcoin market participants are keenly waiting for a monthly MACD cross to confirm. Bitcoin (BTC) further reduced volatility ahead of the July 30 weekly close as traders eyed an exciting long-term bull signal. BTC/USD 1-hour chart. Source: TradingView BTC price makes weekend "slower than ever" Data from Cointelegraph Markets Pro and TradingView followed sideways BTC price action over the weekend, with BTC/USD sticking in a tiny $150 range. #Bitcoin Trading within a $10 range for the past 1.5 hours. Weekends are slower than ever lately. pic.twitter.com/FmZLL82wrk — Daan Crypto Trades (@DaanCrypto) July 29, 2023 Conditions throughout the week had remained calm, despite a slew of macroeconomic data events, leading some to assume that a breakdown would come next. With hours until the weekly close, however, there was still no sign of volatility returning. #BTC exhibiting impressive price stability around the ~...

Even with a price correction to $29,000, several Bitcoin price metrics show traders casting bets on a quick rebound. On July 24, Bitcoin (BTC) experienced a flash crash, plummeting to $29,000 in a movement now attributed to significant BTC holders potentially liquidating their positions.  Amidst the crash and market uncertainty, Bitcoin's three major trading metrics continue to project a bullish outlook, signifying that professional traders have not reduced their leverage longs through the use of margin and derivatives. Analytics firm Glassnode reported a surge in whales' inflow to exchanges, reaching its highest level in over three years at 41% of the total. This forceful sell-off from whales alarmed investors, especially in light of the absence of any significant negative events impacting Bitcoin in the past month. Notably, a major concern stems from the ongoing court cases by the U.S. Securities and Exchange Commission (SEC) against leading exchanges, Binance and Coinbase....

Bitcoin bulls have failed to step in, increasing the chance for a retest of the $29,500 support. Bitcoin (BTC) remains stuck inside a narrow range, making it difficult to predict the direction of the next possible breakout. The United States dollar index (DXY), which generally moves in inverse correlation to Bitcoin, dropped below 100 but that has failed to propel Bitcoin higher. This suggests that Bitcoin is charting its own course in the near term. Therefore, the earnings season from big companies this week may sway the U.S. equities markets but may not have the same effect on Bitcoin. It is becoming increasingly difficult to pinpoint the event or the news flow that will cause Bitcoin’s price to escape the range. Daily cryptocurrency market performance. Source: Coin360 The uncertainty about Bitcoin’s next directional move has not deterred the whales. CryptoQuant’s contributing analyst SignalQuant highlighted that the on-chain indicator, the unspent transaction outputs, has been risi...

Historical data shows that apart from a few times since 2015 when altcoins outperformed BTC, a ‘Bitcoin only’ investment strategy has fared considerably well. Altcoins offer diverse, innovative features, promising technological advancements, and potentially lucrative investment opportunities. Many-a-time specific altcoins post handsome gains that surpass Bitcoin (BTC), popularly known as altcoin season. However, K33 Research analysis shows over the long-term, ‘Bitcoin only’ has been a better investment strategy than an altcoin portfolio. Altcoin portfolio underperformed Bitcoin over the long run Bitcoin has had three consecutive bull and bear market cycles, starting in 2013 with the latest one coming in 2021. In each cycle, Bitcoin’s price rose parabolically in a very short span, usually a few months, after surpassing the peak of its previous cycle. In 2013, BTC peaked around $1,175 and after that followed a downtrend for two years. At the time, the altcoin market was in its nascent ...

Also Read: Ripple Legal Chief Have A Tip For “Bears” On Crypto Rules advertisement Bitcoin Price Rally To Continue? According to the Coinglass data, more than 61.6k traders have been liquidated in the last 24 hours. While the cumulative long and short crypto liquidation breached the $216 million mark. However, the biggest liquidation order XBT/USD valued at $9.30 million got executed on the Bitmex crypto exchange. As the Bitcoin price breached the $30,000 level, over $158 million worth of short positions set by the traders got liquidated in the last 24 hours. The liquidated short positions turn out to be 73% of the cumulative $216 million liquidation. This suggests that traders were hoping BTC price to drop after the recent rally. Bitcoin price is by more than 20% in the last 7 days. However, Its price surged by over 4% in the last 24 hours breaching the vital $30k level. As per CoinMarketcap, Bitcoin price touched the $30,628 mark on Thursd...