Monthly Archives: October 2021

Are Long-Term Holders Selling The Bitcoin Price Top?

Long-term bitcoin holders typically stack sats in bear markets and then sell some for profit at the local price top. The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. One of the most common patterns in bitcoin’s on-chain history is that of the long-term holders stacking sats during bear markets and then selling some of their positions for profit-taking […]

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Proshares Bitcoin Strategy ETF Debut Captures Close to $1 Billion in Volume

The first bitcoin exchange-traded fund (ETF) launched in the United States and smashed records on Tuesday, capturing close to $1 billion in total volume. Eric Balchunas, the senior ETF analyst for Bloomberg said that the Proshares Bitcoin Strategy ETF (BITO) definitely “defied expectations.” Proshares Bitcoin ETF Commands Serious Volume Proshares Bitcoin Strategy exchange-traded fund (BITO) did well on its first day, as it closed the day at 4:00 p.m. (EDT) at $41.94 per unit. Meanwhile, the price of bitcoin (BTC) soared on Tuesday, tapping a high of […]

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The Prophecy Of Satoshi Nakamoto: Bitcoin As Religion

Rituals, terminology and evangelism — there are many aspects of the culture surrounding Bitcoin that resemble religion. During bitcoin’s parabolic price increase this year, Twitter profiles with laser eyes suddenly emerged. “Anons” and celebrities, such as Elon Musk, added red lasers rays to their portraits and the hashtag #LaserRayUntil100k started to trend. As the hashtag indicated, the laser eyes were added as part of an internet ritual to increase bitcoin’s price to $100,000. But the laser eyes were only the latest expression of Bitcoin’s culture, which ranges […]

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First Bitcoin Futures ETF Trades Over $1 Billion On First Day

The ProShares Bitcoin Strategy ETF debuted with the second-highest trading volume of ETF launch history. First bitcoin futures ETF listed in the U.S. amassed over $1 billion in trading volume in its first day of trading. The NYSE-listed ProShares Bitcoin Strategy ETF gained 4.85% from its $40 opening price, closing at $41.94. This was the second-biggest ETF debut of all time in terms of trading volume. The ProShares Bitcoin Strategy exchange-traded fund (ETF) finished its first day of trading with a little over $1 billion of volume, […]

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SEC Chair Gary Gensler responds to concerns about first Bitcoin-linked ETF

In the same interview, Proshares CEO Simeon Hyman opined that regulated futures traded in a 40-act ETF will open the opportunity to get BTC exposure to a lot of folks who may have been waiting on the sidelines. SEC Chair Gary Gensler and Proshares CEO Simeon Hyman discussed the launch of the first Bitcoin-linked ETF in a CNBC breaking news segment on Tuesday. Proshares Bitcoin Strategy ETF, also known as BITO, is based on CME Bitcoin futures contracts. CNBC commentator Bob Pisano shared concerns from some investors […]

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Powerful blockchain lobby group urges Washington not to overregulate stablecoins

The stablecoin market is valued at over $130 billion and growing rapidly, putting federal regulators on high alert over systemic risk. A high-profile blockchain lobby group is urging United States lawmakers to adopt a “technology-neutral” approach when it comes to stablecoin regulation, arguing that dollar-pegged cryptocurrencies do not pose a system risk to the financial system. In a 17-page letter addressed to the President’s Working Group on Financial Markets, which includes regulators from the Department of Treasury and Federal Reserve, the Chamber of Digital Commerce outlined a […]

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Billionaire investor Carl Icahn thinks Bitcoin may be the best hedge for inflation

His comments were in line with Federal Reserve Chairman Jerome Powell, who mentioned that inflation was rising along with supply issues. Billionaire investor Carl Icahn warned Tuesday that the next market crisis may be on the horizon, and Bitcoin could be the best hedge against inflation. With the United States government continuing to stimulate the economy, Icahn stated that he fears the dollar is becoming more devalued and that the price of goods is rising. “In the long run we are certainly going to hit the wall. […]

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Celsius responds to NYAG crackdown on crypto lending platforms

“If any regulatory or technical changes are required in a specific jurisdiction, Celsius will provide clear and timely communication as needed,” said the firm. Crypto lending firm Celsius Network has confirmed it is one of three platforms requested to provide information to the New York Attorney General’s office. In a Tuesday blog post, Celsius said it was not one of the two unnamed crypto lending platforms that New York Attorney General Letitia James ordered to “cease any and all such activity” around selling or offering cryptocurrencies. Rather, Celsius […]

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Concierge Service Catering to Crypto Whales Sees 500% Increase in Clients Over the Last 6 Months 

On Tuesday, Concierge.io, the exclusive travel service backed by Travala.com announced it added new luxury services in order to give crypto investors “a more premium experience to live out their travel dreams.” The concierge service for “the crypto world’s elite” details its added experiences like a seven-star igloo in Antarctica, all-inclusive African safaris, and a stay at a Japanese castle. Exclusive Travel Service Adds New Services The firm Concierge.io is the concierge service focused on cryptocurrencies and it leverages professional travel managers in order to provide customers […]

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Chimeras Play-to-Earn Metaverse Completes Successful Funding Round

PRESS RELEASE. Chimeras successfully raised over $2 million in its latest fundraising round, which will help to fund the play-to-earn project’s market and product development. October 18th, 2021 – The Chimeras Play-to-Earn metaverse project has completed its funding round with the participation of leading blockchain venture companies, including Master Ventures, AU 21, Poolz, BullPerks, X21, OIG Invest, Panda Capital, Shima Capital, LVT Capital, Otis Capital and Lotus Capital. The round successfully raised over $2 million which the Chimeras team has earmarked for the metaverse’s product development and […]

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