In A Nutshell Despite witnessing substantial inflows into Bitcoin spot exchange-traded funds (ETFs) in the United States, amounting to approximately $418 million in a single day, Bitcoin’s price remained stagnant, hovering around the $70,000 mark. This development signals a significant interest in Bitcoin-backed ETFs but also highlights ongoing selling pressure from long-term holders, potentially capping…
In A Nutshell Ripple’s Chief Technology Officer (CTO), David Schwartz, recently made headlines with his remarks on the inevitability of selling XRP, Ripple’s native cryptocurrency, due to tax liabilities. This statement comes amidst a period of volatility for XRP, which saw a notable price dip. Moreover, the departure of Dev Null Productions from the XRP…
In A Nutshell The Commodities Futures Trading Commission (CFTC) recently asserted that Ethereum (ETH), Bitcoin (BTC), and Litecoin (LTC) qualify as commodities. This declaration came to light amidst the CFTC’s legal action against the cryptocurrency exchange KuCoin, sparking renewed discussions on the regulatory classification of these digital assets. The move contrasts with the Securities and…
In A Nutshell The landscape of Binance Coin (BNB) options trading is showing a bullish tendency, with a notable increase in call options ahead of significant contract expirations. This trend suggests that many traders are optimistic about BNB’s value rising beyond its current price of $584.82, potentially reaching or surpassing the $600 mark again. Despite…
In A Nutshell On March 24, a notable surge in Bitcoin (BTC) accumulation was observed, marking one of the largest single-day increases in recent history. Wallets holding between 10 and 10,000 BTC added approximately 51,959 BTC to their holdings, bringing the total supply controlled by this group to a 20-month high of 13.19 million. This…
In A Nutshell Despite a significant outflow from Grayscale’s Bitcoin Trust (GBTC), analysts foresee a continued uptrend in Bitcoin’s price. A recent interview with Coinbase analyst David Duong shed light on the impact of GBTC’s outflows, attributing them to the potential liquidations linked to the bankrupt Gemini exchange. Despite these outflows, which have reduced Grayscale’s…
In A Nutshell Shiba Inu (SHIB), recognized as the world’s second-largest meme coin following Bitcoin in popularity, particularly in Europe, exhibited a bullish trend in its price action last week. Despite a slight increase in selling pressure and indicators suggesting the meme coin was undervalued, SHIB’s social volume remained consistently high. An analysis of Shiba…
In A Nutshell Recent analysis by AMBCrypto has unveiled a significant trend in the Bitcoin market, where retail holders are reducing their BTC holdings amidst high volatility and uncertain market conditions. This phenomenon, known as “paper handing,” contrasts sharply with the behavior of Bitcoin “whales” who appear to be acquiring Bitcoin at lower prices. The…
In A Nutshell Polygon’s native token, MATIC, has recently displayed bullish market indicators, suggesting the potential for a significant price rally. With a recent breakout from a symmetrical triangle pattern and a retest of the new support level, MATIC’s value could soar, possibly propelling it into the top 10 cryptocurrencies by market capitalization. However, despite…
In A Nutshell Bitcoin (BTC) has recently seen a significant price movement, crossing the $71,000 mark for the first time since March 15, according to data from Cointelegraph Markets Pro and TradingView. This rally is attributed to various factors including spot Bitcoin ETF inflows turning positive, anticipation of the upcoming Bitcoin halving, and a bullish…