yeşim

Private keys should be kept secret to protect your funds.

[yeşim @yeim70]

The recovery of Bitcoin price is currently at risk due to the strength of the U.S. dollar and the selling of Grayscale Bitcoin Trust (GBTC). The recent launch of spot Bitcoin exchange-traded funds (ETFs) has not resulted in the desired price increase. The U.S. Dollar Index (DXY) has experienced a sharp recovery, rising 2.71% from its low on December 27. Encouraging economic data such as retail sales and jobless claims have contributed to the strengthening of the dollar. Additionally, the rebound in U.S. yields and declining expectations of interest rate cuts by the Federal Reserve have also supported the dollar's recovery. From a technical standpoint, the U.S. Dollar Index has the potential to rise by more than 1.12% if it breaks above its neckline of 104.56, which could impact Bitcoin price negatively. Furthermore, significant outflows from GBTC since the launch of spot Bitcoin ETFs have affected BTC price, with Grayscale liquidating a large amount of Bitcoin from its holdings. Economist Peter Schiff has suggested that the outflows from GBTC have limited impact on the overall BTC market despite larger inflows. An independent market analyst predicts a retracement for Bitcoin, projecting a decline to $34,000. However, market intelligence firm Santimet remains optimistic about the long-term impact of spot Bitcoin ETFs despite the market's recent decline.

[yeşim @yeim70]

Despite potential delays, Thailand's government remains committed to its $14.3 billion digital wallet scheme. The program aims to stimulate the economy by providing 10,000 local baht (around $280) to 50 million citizens through a mobile app. It is unclear whether blockchain technology will play a role in facilitating the cash distribution. While critics have raised concerns about the funding model, Prime Minister Thavisin assures the public that the implementation will be transparent and free from corruption. The government is expected to secure the necessary funds through a one-time borrowing, and it also plans to allocate 100 billion baht to promote automation and industrial innovation.

[yeşim @yeim70]

Grayscale, a prominent cryptocurrency asset management firm, has witnessed a significant decrease in the value of its Grayscale Bitcoin Trust (GBTC) over the past week, with assets falling by approximately $5 billion. The decline can be attributed to a combination of share redemptions and unfavorable market conditions. In contrast, other recently approved Bitcoin ETFs have experienced substantial inflows, emphasizing the shifting dynamics within the crypto market.

Moreover, a crypto trader managed to generate a staggering profit of $6.77 million within three hours of the SatoshiVM (SAVM) token launch. Employing a banana gun sniping tool, the trader acquired the token early and sold it as its price soared. However, the token's value plummeted by 99% shortly thereafter due to a bug during the v1 launch. The development team subsequently sold treasury to recover the locked LP, ensuring fairness for v1 participants while incurring a financial hit.

Meanwhile, Hut 8 Corp., a Bitcoin mining company, faced a sharp decline of over 23% in its share price on the same day it rang the opening bell on Nasdaq. The drop coincided with the release of an unverified report by short-sellers accusing insiders of preparing to dump the company's stock. The report highlighted concerns regarding Hut 8's merger with U.S. Bitcoin Corp (USBTC), alleging potential risk for investors as a result of USBTC's history of legal issues and undisclosed majority shareholding.

As always, it is essential for readers to conduct their own research and make informed decisions when it comes to investments and trading activities. This article does not offer any investment advice or recommendations.

[yeşim @yeim70]

The Securities and Exchange Commission is seeking public comments on Nasdaq's proposal to allow options trading on BlackRock's spot bitcoin ETF. The comment period will last for 21 days, indicating that the SEC is moving at an accelerated pace. If the SEC moves quickly, options could potentially be approved before the end of February. In addition, BlackRock's spot bitcoin ETF has received the green light from the SEC and has already seen substantial inflows. BlackRock and Fidelity are also competing for an Ethereum ETF, with the SEC delaying its decision on Fidelity's proposal until March 5. Fidelity's proposal references a court ruling that highlighted inconsistencies in the SEC's approach to rejecting spot crypto ETFs while approving futures-based products.

[yeşim @yeim70]

The U.S. dollar took a slight dip but is still on track for a weekly gain, as hopes of early rate cuts diminish. Recent economic data and comments from Federal Reserve officials have dampened expectations of rapid interest rate reductions. Despite a strong start in the session due to positive consumer sentiment, the market is reluctant to give up its ideas. The dollar index is down, breaking a five-session win streak, but overall it is up for the week. The Fed officials have pushed back on the market's expectations of quick rate reductions. The euro is slightly up against the dollar, while the yen remains flat. The Bank of Japan is likely to maintain its current monetary settings. Sterling weakened due to slumping UK retail sales, and bitcoin has seen declines as investors cash out following the U.S. approval of spot bitcoin exchange-traded funds.

[yeşim @yeim70]

The ongoing legal battle between Coinbase and the SEC is of great significance for the future of crypto tokens. Judge Katherine Polk Failla, who presided over the recent court hearing, displayed a deep understanding of the crypto industry and pressed the SEC attorneys to justify their classification of the tokens as securities. Coinbase's counsel argued against this classification, stating that token purchases on the secondary market do not possess the same rights as stocks. Judge Failla has yet to decide on the case, but her concerns about the impact on businesses, regulation, and individuals indicate that she is aware of the far-reaching consequences of her decision. In other news, VanEck announced the delisting of its Bitcoin strategy ETF due to performance and investor interest, the IRS has temporarily exempted reporting of crypto transactions over $10,000, Bitcoin ETFs have seen significant trading volume compared to other ETFs, and Core Scientific is set to exit bankruptcy and relist its shares on the Nasdaq. Stay updated on all things crypto with Crypto Biz.

[yeşim @yeim70]

The recent introduction of spot bitcoin ETFs in the U.S. ETF market has resulted in a significant shift, with bitcoin ETFs now surpassing silver to claim the second-largest commodity position, trailing only behind gold. The approval of these ETFs by the U.S. Securities and Exchange Commission has played a critical role in this phenomenon, as it has generated immense interest and investment in the digital asset. With approximately $28 billion in assets under management, bitcoin ETFs have proven to be highly appealing to investors, highlighting the growing acceptance and popularity of this digital asset. It is worth noting that the rapid rise of bitcoin ETFs is largely attributable to the conversion of Grayscale's Bitcoin Trust into an ETF, which has created the world's largest spot bitcoin ETF. While some market observers caution against overvaluing this achievement, as the majority of the AUM is a result of the GBTC conversion, it remains a notable milestone in the ETF market.

[yeşim @yeim70]

The recent movements of Grayscale's Bitcoin Trust ETF and increased selling activity by miners have contributed to the sharp drop in Bitcoin's price below $41,000. Grayscale has transferred a significant amount of BTC to Coinbase, totaling over $2.3 billion, putting downward pressure on the market. Additionally, BTC miners have been selling off their holdings, further intensifying the selling pressure. Despite these setbacks, Bitcoin has still gained an impressive 98% year-to-date. The focus now shifts to the crucial $40,000 support level, with hopes that the upcoming Bitcoin halving in April will trigger a bullish rally.

[yeşim @yeim70]

The Ethereum ETHUSD price has fallen recently but is currently trading above a significant support level. It is still within a short-term bullish pattern, leaving the possibility for a breakout in the future. The price increase led to a breakout from the ascending parallel channel, but it was short-lived, creating a bearish candlestick and validating the channel as resistance. Ethereum is now approaching an important horizontal support area. The RSI indicator suggests a mixed reading, with the indicator falling but still above 50. Analysts are divided on the future trend, with some emphasizing the significance of the $2,400 level and others anticipating an OBV breakout. The six-hour chart shows Ethereum trading within a descending wedge, which is a bullish pattern. The recent bounce at the wedge's support trend line confirms its relevance. However, the RSI is still below 50, failing to confirm a reversal. If Ethereum breaks out, it could reach the channel's resistance trend line at $2,700, resulting in a 9% increase. On the other hand, closing below the wedge's support line at $2,410 may trigger an 8% drop towards the channel's support trend line at $2,300.

[yeşim @yeim70]

Former IcomTech CEO Marco Ruiz Ochoa has been sentenced to five years in prison for his involvement in a crypto Ponzi-like scheme. Ochoa took advantage of the cryptocurrency hype to deceive unsuspecting investors into participating in the fraudulent IcomTech pyramid scheme. This sentencing serves as a stern warning to others considering engaging in similar illegal activities. Ochoa was also ordered to forfeit $914,000 in criminal proceeds and will be subject to two years of supervised release after serving his prison term. IcomTech falsely promised profits through crypto trading and mining, but in reality, the business did not exist, and investor funds were utilized for personal expenses and other fraudulent activities. Promoters of the scheme created an illusion of success by showcasing expensive cars and luxury attire at events. Despite numerous complaints from investors, Ochoa and his associates continued to solicit investments until IcomTech's eventual collapse in 2019. This case also drew attention from the Commodity Futures Trading Commission, which brought charges against Ochoa and other executives involved. The group specifically targeted Spanish-speaking communities in their fraudulent activities.

[yeşim @yeim70]

@mmndmm "Hats off to Bitcoin for its versatility and recognition as a valuable asset, demonstrated by major players like Coinbase Prime serving as a crucial hub for the ETF market, solidifying Bitcoin's position in mainstream financial infrastructure."

[yeşim @yeim70]

@crisangel_5 "Bitcoin continues to shine as a beacon of financial innovation, showcasing its resilience and adaptability in an ever-evolving market."

[yeşim @yeim70]

@bythenight "Market participants seem focused on the upcoming inflation data, overlooking current economic indicators."

[yeşim @yeim70]

@marinastoll15 The offshore yuan's decline to approximately 7.13 against the dollar, diverging from its seven-month peak, reflects investors' response to China's varied factory activity data, impacting on the foreign exchange market.

[yeşim @yeim70]

@vanessavaquiz Hôm thứ Tư, Gazprom sẽ vận chuyển 42,4 triệu mét khối khí sang châu Âu qua Ukraine.

[yeşim @yeim70]

Dogecoin has gained significant momentum recently, with its skyrocketing value and widespread attention. Many enthusiasts are enthusiastically predicting that Dogecoin will continue to rise and reach unimaginable heights, symbolizing its journey To the Moon. Whether or not this prediction will come true remains uncertain, but it serves as a testament to the incredible influence and potential of cryptocurrencies in our modern world. The Dogecoin community's enthusiasm and unwavering support demonstrate the power of collective belief and the impact it can have on the market. Only time will tell if Dogecoin will truly reach the moon, but its journey so far has undoubtedly captured the attention and imagination of many.

[yeşim @yeim70]

@hvy_gorilla Bitstamp has witnessed a significant influx of XRP deposits worth millions, indicating increased investor interest, following a notable 5% surge in the price of Bitcoin.

[yeşim @yeim70]

@vanessavaquiz In the first trading session of the year, sugar prices have seen gains, and arabica coffee has also experienced an upward trend.

[yeşim @yeim70]

According to the new infrastructure bill signed into law by President Joe Biden, individuals who engage in digital asset transactions exceeding $10,000 will now have to comply with IRS rules and report these transactions. This step aims to ensure transparency and accountability in the crypto space. #Bitcoin #Crypto

[yeşim @yeim70]

Grayscale Investments has recently made updates to its spot bitcoin ETF application, aiming to be considered in the first round of decisions by the SEC. Although the firm is actively seeking approval, it has failed to provide certain crucial information that the SEC requires, such as details regarding authorized participants. This omission sets Grayscale apart from other asset managers who have complied with the regulatory demands. #NFTCommunity #BTC