Research the dynamics of market manipulation before you jump in Bitcoin ETFs

November 30, 2023 faizimrd

Investors are eagerly anticipating the potential approval of a spot bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC). The excitement began in early June when the investment giant BlackRock submitted a filing for the product and gained further momentum after a court decision mandated the SEC reconsider its rejection of Grayscale’s proposal to transform its Bitcoin Trust (GBTC) into a spot ETF. The SEC’s objection to ETFs is related to the fact that Bitcoin (BTC) is traded in unregulated venues around the world, which poses…

Bitcoin ETF race gets 13th entrant, BlackRock revises ETF model

November 30, 2023 faizimrd

Swiss asset manager Pando Asset has become an unexpected late entrant into the spot Bitcoin (BTC) exchange-traded fund (ETF) race in the United States. On the same day, investment giant BlackRock met with the country’s securities regulator to pitch an updated ETF model based on the agency’s feedback. On Nov. 29, Pando submitted a Form S-1 to the Securities and Exchange Commission — used to register securities with the agency — for the Pando Asset Spot Bitcoin Trust. Like other ETF bids, the trust aims to track Bitcoin’s price with…

Jack Dorsey Leads Funding Round in Move To Decentralize Bitcoin (BTC) Mining – The Daily Hodl

November 30, 2023 faizimrd

Billionaire and Block co-founder Jack Dorsey is leading a new funding round that aims to decentralize the mining ecosystem of Bitcoin (BTC). According to a new press release, Dorsey has led a $6.2 million seed funding round to support the launch of Mummolin’s decentralized BTC mining protocol OCEAN. “Mummolin, Inc., announced today that it has raised $6.2 million in seed funding, led by Jack Dorsey, Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, the Bitcoin Opportunity Fund, and other strategic partners. The seed funding will support the launch of OCEAN, the…

CME Bitcoin futures show investors betting on $40K BTC price

November 30, 2023 faizimrd

The demand for institutional investors for Bitcoin (BTC) became evident on Nov. 10 as the Chicago Mercantile Exchange (CME) Bitcoin futures flipped Binance’s BTC futures markets in terms of size. According to BTC derivatives metrics, those investors are showing strong confidence in Bitcoin’s potential to break above the $40,000 mark in the short term. CME Bitcoin futures open interest, USD. Source: Coinglass CME’s current Bitcoin futures open interest stands at $4.35 billion, the highest since November 2021 when Bitcoin hit its all-time high of $69,000–a clear indication of heightened interest,…

Trader Says Bitcoin Just Flashed Its ‘Parabolic Signal,’ Predicts Things ‘Escalate Quickly’ From Here – The Daily Hodl

November 30, 2023 faizimrd

A crypto analyst with a large following says that Bitcoin has printed its “parabolic signal” that suggests BTC is in the early innings of a strong bull market. Pseudonymous crypto analyst TechDev tells his 422,000 followers on the social media platform X that in terms of market liquidity, Bitcoin reached its bottom more than a year ago. TechDev attempts to depict cyclical patterns of dollar liquidity by pinning the US dollar index (DXY) against the Chinese 10-year bond, which appears to coincide with Bitcoin’s market cycles. “As far as liquidity…

Estonian court nixes extradition of accused crypto scammers to US

November 30, 2023 faizimrd

Ivan Turogin and Sergei Potapenko, co-founders of Bitcoin cloud miner HashFlare, have successfully appealed their extradition from Estonia to the United States, where the two face 18 counts of fraud and money laundering. The Tallinn Circuit Court overturned a lower court’s order on Nov. 29, according to a local press report. According to the United States Justice Department, HashFlare, which operated from 2015 to 2019, was a Ponzi scheme with hundreds of thousands of victims paying in a total of $575 million. The company claimed to lease hashing power for…