The supply of Bitcoin on centralized exchanges remains at multi-year lows as whale investors accelerate the accumulation pace.
Despite Caroline Ellison’s cooperation with prosecutors and her role as a key witness in the trial against Sam Bankman-Fried, Judge Lewis Kaplan has rejected leniency and sentenced the former CEO of Alameda Research to two years in prison.
Despite the ETH price recovery after the Fed rate cut decision the outflows from spot Ethereum ETF have continued suggesting a fragile market sentiment.
Alongside on-chain data, historical cycle patterns also suggest Bitcoin may be on the verge of a breakout.
According to CoinShares Head of Research James Butterfill, the FOMC’s decision to cut interest rates by 50 basis points last Wednesday played a crucial role in boosting market sentiment.
Bitwise executive Jeff Park said that the IBIT options would be a game-changer and would remove the “jump-to-default (JTD) risk”, which has deterred institutional investors from participating.
The market correlation between US stocks and crypto has grown in the past few weeks and is now topping 0.67.
The impressive performance of gold in the recent past could trigger a similar parabolic response in Bitcoin in the fourth quarter of 2024.
Some Catizen players expressed complete dissatisfaction over their token allocations during the airdrop with the team allocating much less than the original plan of CATI token allocation.
The US spot Bitcoin ETFs registered a net cash inflow of over $158 million on Thursday, amid the changing economic outlook accelerated by the recent Fed’s rate cut.
The supply of Ethereum on centralized exchanges has remained stagnant since March this year, despite the approval of US spot Ether ETFs.
The demand for Bitcoin has gradually increased in the recent past as shown by the U.S. spot BTC ETFs in the past two weeks and multi-year low in CEXs supply.
The upcoming Federal Reserve meeting is crucial for the crypto market, with experts predicting a rate cut that could drive prices up.
The US spot Bitcoin ETFs registered an impressive performance on Tuesday, of more than $186 million in cash inflows, with none of the issuers reporting net cash outflow.
With a 69 percent chance of a 50 bps interest rate cut on Wednesday, Bitcoin price could rally towards its all-time high in the near term.