Cryptocurrencies, including Bitcoin and Ethereum, experienced a rise in value as investors anticipated the Federal Reserve's annual meeting and Bitcoin attempted to reach $30,000.
Bitcoin's price rose nearly 5% to just below $26,800, driven by a rally in traditional markets and increased trading volumes, while bankrupt exchange FTX seeks to sell its crypto holdings with the help of Galaxy Digital and Binance discontinues its crypto-backed debit card in Latin America and the Middle East.
Head of Research at FS Insight, Tom Lee, predicts that Bitcoin's network value and scarcity could push its price over $200,000, while other experts, including Ark Invest CEO Cathie Wood, also foresee significant growth for the cryptocurrency. Lee highlights Bitcoin's resilience and regulatory scrutiny as well as interest from traditional financial giants such as BlackRock and Citadel.
Bitcoin holds steady at $26,000 ahead of Jerome Powell's speech at Jackson Hole, while Binance reaches out to projects with low-liquidity tokens to enhance liquidity protection, and Num Finance introduces a Colombian peso-pegged token on the Polygon network.
Federal Reserve Chair Jerome Powell cautions that inflation is still too high and hints at the possibility of raising interest rates further, leading to uncertainty in the markets; meanwhile, Pantera Capital predicts that Bitcoin could reach $35,000 by 2024 and potentially climb to $148,000.
Bitcoin remains in a tight range between $25,800 and $26,000 after a recent price spike, as the SEC's delay in key ETF decisions dampens hopes of a long-term recovery in the market.
The bankrupt crypto exchange FTX recently transferred $10 million worth of Solana (SOL) tokens to the Ethereum network, a move that may create instability in the cryptocurrency market, as FTX undergoes a bankruptcy review and proposes a structured approach to the sale of its digital assets.
Crypto analyst 'Sunnydecree' highlighted the paradoxical behavior of people being hesitant to buy Bitcoin at $26,000, despite major asset managers like BlackRock seeking to enter the crypto space and the potential for future price increases.
Bitcoin is predicted to reach $22,000 due to worsening investor sentiment and the impact of lawsuits against Binance and Coinbase, while BitMEX co-founder Arthur Hayes claims the bull market began in March.
The price of bitcoin briefly rose above $25,900 after the FASB approved favorable accounting treatment for companies holding crypto on their balance sheets and ARK Invest submitted paperwork for a spot ether ETF, but quickly returned to its previous level.
FTX, a beleaguered crypto exchange, is expected to gain approval to liquidate $3.4 billion in cryptocurrencies, potentially impacting Ethereum, Solana, and altcoins, while FTT, FTX's proprietary token, raises concerns due to limited liquidity and market depth.
FTX, a bankrupt crypto exchange, is seeking court approval to liquidate $3.4 billion in cryptocurrencies, with a maximum offload of $100 million per week, potentially impacting the market in a more gradual manner rather than causing a sharp fall in asset prices; this article examines the price movements and potential impact on Solana (SOL), Dogecoin (DOGE), and Aptos (APT).
The bankrupt FTX estate has amassed around $7 billion in assets, including $1.16 billion in solana tokens and $560 million in bitcoin, as it seeks to return funds to creditors through the sale of its crypto holdings.
FTX, the failed crypto exchange, owns $1.16 billion worth of Solana (SOL) tokens, which represents over one-third of its total liquid crypto portfolio.
Crypto markets experienced a decline as FTX's potential selling pressure raised concerns, causing Bitcoin to fall below $25,000 for the first time since mid-June, and altcoins to underperform, particularly Solana (SOL).
FTX has released the presentation materials for its shareholder meeting, revealing that over 2,300 non-customer claims worth $65 billion have been filed against the cryptocurrency exchange, while 36,075 customer claims worth $16 billion have been filed, with 10% already agreed upon. FTX's assets amount to over $7 billion and include digital assets, cash, brokerage investments, venture portfolio, tokens, and real estate. The company is also considering potential actions against insiders, political and charitable donation clawbacks, and actions against vendors. Over 75 potential bidders have been contacted for the relaunch of FTX, and a recovery plan confirmation is expected in Q2 2024. There are reports that FTX may liquidate a significant portion of its crypto holdings.
FTX's plan to sell $3.4 billion worth of crypto to return fiat currency to users, along with pressure on crypto venture capital funds to return funds, is expected to create an overhang for altcoins, leading to potential declines in prices.
Bitcoin's price rebounded to around $26,000 as short traders abandoned their bearish bets, but a lack of bullish catalysts may limit the recovery, with a potential altcoin crash looming as bankrupt exchange FTX plans to sell around $3.4 billion worth of tokens.
The price of bitcoin remains steady above $26,000 as FTX receives approval to sell its crypto assets and U.S. inflation data exceeds expectations.
The collapsed crypto exchange FTX has been granted permission to liquidate its digital assets to repay creditors, including Bitcoin, Ether, and Solana, amounting to around $3.4 billion. The founder of FTX, Sam Bankman-Fried, is facing charges of fraud and conspiracy, with his bail being revoked last month.
Bitcoin and major tokens experienced slight gains following concerns over the FTX court case ruling, with BTC rising 1.5% and Ether nearing $1,700; however, bearish sentiment remains among professional traders.
Bitcoin is showing strength and could reach $28,000 despite negative news, according to Altcoin Sherpa, a popular crypto trader, while cautioning about the downward trend of Ethereum rival Solana.
Bitcoin is expected to experience a significant increase in value and reach a fair value of $100,000, driven by institutional capital inflows and the approval of Bitcoin ETFs, according to Mark Yusko, founder of Morgan Creek Capital.
The volatility in Bitcoin remains low, similar to the stability in US stock and bond markets, and is expected to continue after the Federal Reserve rate decision.
The filing from FTX's bankruptcy estate reveals that Sam Bankman-Fried's father, Joe Bankman, was paid a $200,000 salary by FTX's US division but expected to receive $1 million annually.
Binance's Bitcoin trading volumes have decreased significantly due to lawsuits and regulatory scrutiny, while Coinbase's volumes have increased.
TON coin has replaced Solana's SOL token as the 10th largest cryptocurrency by market capitalization.
Deep-pocketed crypto investors have moved over $660 million worth of Bitcoin, Ethereum, and Chainlink as Bitcoin's price drops below $27,000.
Crypto analyst Nicholas Merten predicts a significant contraction in the total market capitalization of Bitcoin and other digital currencies, with Bitcoin potentially facing a plunge of over 43% and stabilizing between $15,000 and $16,000 as the market potentially finds a foothold around the $650 billion cap.
Political pressure is causing delays in the approval of a Bitcoin spot ETF, but CEO of BitGo, Mike Belshe, remains optimistic that Bitcoin's price will reach its record high of $69,000 within the next 18 months.
Around $4 million worth of ethereum (ETH) tied to the FTX exchange hack has started moving, while $21 million still remains in the original wallet, as the trial of FTX founder Sam Bankman-Fried, who is facing fraud charges, is about to begin.
Bitcoin (BTC) reaches over $28,000, its highest price in over a month, driven by optimism about ETFs and seasonal trends, while other cryptocurrencies like ether (ETH) and Solana's SOL tokens also experience gains.
Bitcoin has rebounded by over 42% following the collapse of FTX last November, reaching its highest mark in almost two months at $28,933.51, while FTX founder Sam Bankman-Fried faces trial for federal charges of fraud and conspiracy.
London-based cocoa broker Marc-Antoine Julliard testified in the criminal case against former FTX CEO Sam Bankman-Fried, stating that he was unable to withdraw 4 Bitcoin worth $80,000 from FTX in November 2022 after a Twitter post from Bankman-Fried reassured users about their assets; witnesses including former FTX executives and Anthony Scaramucci are also expected to testify.
Crypto hedge fund Alameda Research had exclusive privileges on FTX exchange that allowed them to use $8 billion of customers' funds, according to testimony from a former top executive, Gary Wang, who co-founded both companies with Sam Bankman-Fried.
BitMEX co-founder Arthur Hayes predicts that Bitcoin will reach $750,000 to $1 million by 2026, but warns of a financial crisis on par with the Great Depression following the bull market.
The demand for Bitcoin as a digital store of value, combined with its potential approval for a US-listed spot ETF, could result in a significant rally and inflows of $20-$30 billion, according to a report by Matrixport.
Inflows to digital asset investment funds reached $78 million, with Bitcoin investment funds receiving the highest proportion at $43 million, while Bitcoin trading volumes increased by 16% in the past week. Additionally, the launch of the Ethereum futures ETF in the US saw under $10 million in investments during the first week, indicating muted investor interest. Deribit, a crypto options exchange, plans to offer options tied to alternative cryptocurrencies XRP, SOL, and MATIC, and FTX founder Sam Bankman-Fried's defense against US Department of Justice charges may be prohibited from mentioning Anthropic's recent fundraising efforts.
Crypto investments surged by $78 million, with Bitcoin and Solana leading the way, according to CoinShares' latest investment report. Bitcoin received $43 million in inflows, while Solana experienced its largest weekly inflow since March 2022.
Investment into the cryptocurrency market surged with $78 million flowing into the sector, primarily benefiting Bitcoin, while Ethereum ETFs received minimal interest and Solana experienced a substantial increase in inflows.
Arthur Hayes, the co-founder of cryptocurrency exchange BitMEX, predicts that the price of Bitcoin will reach $750,000 to $1 million by 2026 due to a major financial crisis and endless cycles of central bank printing that lead to inflation, preventing natural market cycles of growth and correction. He believes that mounting debt, out of control inflation, and the insolvency of the US banking system will contribute to Bitcoin's rise. However, he also expects a significant drawdown in BTC price after each bull market.
Buyers struggle to maintain Bitcoin price above $27,000 as selling increases due to inflation pressure and uncertainty, but analyst predicts a potential rally to the next halving in November; BitMEX founder Arthur Hayes is even more bullish, predicting Bitcoin could reach $750,000 to $1 million by 2026.
FTX's hedge fund, Alameda Research, reportedly lost over $190 million due to avoidable scams and security incidents, including phishing attacks and questionable yield farming on dubious blockchains, as a result of the firm's focus on speed over security, according to a former engineer turned whistleblower. These revelations come amidst the ongoing fraud trial of FTX founder, Sam Bankman-Fried.
Anthony Scaramucci, founder of SkyBridge Capital, believes that Bitcoin could be a hedge against inflation and is optimistic about its potential price surge, suggesting that if Bitcoin ETFs allocate $100 billion to the cryptocurrency, its price could reach $150,000 to $250,000.
Bitcoin's current price, which is below $30,000, presents an opportunity for investors to add it to their portfolios due to potential near-term catalysts like the upcoming halving, the possibility of approved Bitcoin exchange-traded funds, and a more accommodative Federal Reserve policy that could boost the cryptocurrency's price in the long term.
The FTX bankruptcy estate has staked millions of dollars worth of ether and solana on the blockchain, potentially earning significant rewards in the future.
FTX's bankruptcy estate staked $122 million in Solana (SOL) tokens and $5 million in Ethereum (ETH) in an effort to generate passive yield, as part of the company's "Digital Asset Management and Monetization Program," approved last month.
Bitcoin (BTC) surpasses $28,400 amid positive sentiment and the signing of a crypto licensing bill in California, while remaining resilient to fake reports of BlackRock's spot bitcoin ETF approval and experiencing a 2.1% gain in the past 24 hours.
SkyBridge Capital founder Anthony Scaramucci predicts that Bitcoin could reach $100,000 within a year after its halving event, while Ethereum could soar to $4,500, and he believes that Algorand could increase by more than 200% in value.
Bitcoin's market cap could reach $900 billion if spot exchange-traded funds (ETFs) are approved next year, leading to an influx of institutional money into the market, according to a report by CryptoQuant. This could also raise the entire crypto market cap by $1 trillion.
