In a surprising turn of events, the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) has not yielded the anticipated immediate upside impact on the Bitcoin price. Contrary to expectations within the crypto community, BTC has experienced a sharp drop of over 16% since the ETF approval on Wednesday, January 11, dipping below the key…
Bitcoin (BTC), the largest cryptocurrency in the market, has experienced a sharp drop below the $41,000 mark as exchange-traded funds (ETFs) for Bitcoin went live on January 12. The subsequent profit-taking, selling pressure, and outflows from Grayscale’s Bitcoin Trust ETF (GBTC) played a significant role in the downward trend. Grayscale’s Bitcoin Transfers To Coinbase Intensify…
The Bitcoin price has been moving steadily at its current but failed to meet general expectations. Following the approval of the spot Bitcoin Exchange Traded Funds (ETFs), market participants were expecting potential scenarios. In these potential scenarios, Bitcoin pushed through critical resistance at $48,000 and continued making new highs, or the cryptocurrency retraced to $30,000.…
In a significant development that could potentially impact the Bitcoin price, Arkham Intelligence data reveals that Grayscale, the manager and owner of the Grayscale Bitcoin Trust (GBTC), has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12. Grayscale Bitcoin Trust Initiates Substantial BTC…
Coinbase, the largest cryptocurrency exchange in the United States, is presently serving as the custodian of the majority of the Spot Bitcoin ETFs managed by various asset management companies in the industry. This notable concentration is raising worries in the crypto community about significant centralization and potential risks associated with the custodianship. Coinbase Dominate ETFs…
Bitcoin had earlier shown a sharp rally toward the $49,000 mark, but the asset was quick to retrace the entire surge as the Coinbase Premium turned negative. Bitcoin Coinbase Premium Gap Plunged Into Negative During Past Day As pointed out by CryptoQuant Netherlands community manager Maartunn in a post on X, the Coinbase Premium Gap…
Bitcoin has observed a sharp rally beyond the $47,000 level as data shows buying pressure on Coinbase has displayed no signs of letting off. Bitcoin Has Surged More Than 4% In Last 24 Hours As ETF Deadline Nears After the asset’s indecisiveness over the last few days, the cryptocurrency has appeared to have picked its…
According to Bloomberg, Coinbase Global has recently experienced a change in leadership within its custody division. The departure of Aaron Schnarch, former CEO of Coinbase Custody, has been confirmed by a spokesperson, who also revealed that Schnarch was replaced by Rick Schonberg in August. Per the report, the transition aligns with Coinbase’s efforts to offer…
Despite concerns over network congestion and high gas fees, Ethereum remains bullish in the long term, according to borovik.eth–a partner at Rollbit, who posted on X on December 26. The key factors driving the positive outlook are pointing to Ethereum’s developer ecosystem, its role in the broader blockchain ecosystem, and the launch of numerous Layer-2 solutions…
Bitwise Invest, an investment firm specializing in the crypto space, recently unveiled its anticipated crypto predictions for 2024. These projections provide a glimpse into the future of the cryptocurrency industry, highlighting major milestones and potential breakthroughs for the largest cryptocurrencies such as Bitcoin (BTC), and Ethereum (ETH), and exchanges like Coinbase. Bitcoin Predicted To Smash…