Bitcoin (BTC) sellers may not have capitulated enough, but current trends are “typical” of the end of bear markets. According to data from on-chain analytics firm Glassnode, seller behavior suggests that a macro price bottom is forming. Analyst: Seller exhaustion "near" bear market lows In the latest hint that Bitcoin’s latest bear market is nearing its end, Glassnode has revealed that the network is currently weathering a “perfect storm” of low volatility and high on-chain losses. The Seller Exhaustion Constant, calculated from one-month rolling volatility and on-chain transaction profitability, is thus at long-term lows of its own. As a Twitter …

Crypto influencers may need to practice what they preach and “do their own research” when it comes to sharing their crypto tips. According to several digital asset lawyers, the popular disclaimer “this is not financial advice” — may not actually protect them in the eyes of the law. United-States-based securities lawyer Matthew Nielsen from Bracewell LLP told Cointelegraph that while its “best practice” for influencers to disclose that “this is not financial advice,” simply saying the term will not protect them from the law as the “federal and state securities laws heavily regulate who can offer investment advice.” Australian financial …

The companies behind the Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF, and Cosmos Global Digital Miners Access ETF filed a request to revoke their quotations on Cboe Australia, according to letters disclosed on Nov. 2. The decision to revoke the quotes reflects the crypto winter's impact on demand for crypto assets, not the management teams' belief in the space's future, according to reports. Each of the three funds has a net asset value under $1 million. On Oct. 31, Cosmos had requested that trading of its Bitcoin and Ether ETFs be halted. A trading halt was also …

Bitcoin (BTC) saw instant volatility on Nov. 2 as the United States Federal Reserve enacted a fourth consecutive 0.75% interest rate hike. Fed hints more hikes to com Data from Cointelegraph Markets Pro and TradingView showed BTC/USD initially dropping to $20,200 before momentarily rebounding to $20,800. The Fed confirmed the 0.75% hike, which marks its most intensive hiking schedule in forty years, in a statement. “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal …

The past few months have been painful for Bitcoin (BTC) bulls, but they are not alone. The United States Federal Reserve’s tightening economy policy has led investors to seek protection in cash positions and inflation-protected bonds. Surging inflation and recession signals have caused the S&P 500 stock market index to retreat 19% year-to-date. Even gold — previously considered a safe asset — is suffering the consequences, trading down 20% from its all-time high. The increasing costs of a home mortgage added fear that a housing crisis might be underway. Since the FED started raising interest rates in March, borrowing costs …

Over the weekend, thousands of Bitcoiners and crypto enthusiasts descended on the small, sleepy Swiss town of Lugano. More specifically, they piled onto a McDonald’s restaurant. Perched on Lake Lugano, Mcdonald's Lugano received countless visits from Bitcoiners keen to trade Satoshis (the smallest denomination of a Bitcoin) for Big Macs, McFlurrys and coffee. But why were European crypto enthusiasts excited to pay in Bitcoin (BTC) at one of the world’s most recognizable brands? Well, firstly to demonstrate the Lightning Network, a Layer-2 technology built atop Bitcoin. But also to live up to Satoshi Nakamoto’s promise that Bitcoin is, in fact, …

The Union Bank of the Philippines (UnionBank), one of the largest universal banks in the Philippines, debuts cryptocurrency trading via a partnership with a Swiss crypto firm. UnionBank has launched a pilot program for Bitcoin (BTC) and Ether (ETH) custody and trading services for select retail customers, the firm said in a joint announcement on Nov. 2. The new investment and trading feature launches in collaboration with the Swiss crypto technology firm Metaco, with UnionBank going live on Metaco’s digital asset platform Harmonize. UnionBank initially partnered with Metaco for the development of crypto trading services in January 2022. Licensed and …

Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead. Another bear cycle produces more BTC hodlers But the duration of Bitcoin's bear market has coincided with a substantial rise in the percentage of BTC's total supply held by investors for at least six months to one year. Notably, the percentage of coins held for at least a year has risen from nearly 54% on Oct. …

A simple but elegant Bitcoin (BTC) price metric has returned to lows from before the 2017 bull market. As noted by its creator, Charles Edwards, CEO of asset manager Capriole, the Bitcoin Yardstick is now at its second lowest levels in history. Yardstick prints second-lowest reading ever As on-chain metrics converge to put in a classic macro bottom for BTC/USD, a new candidate is suggesting that Bitcoin is even more oversold than the average hodler believes. The Bitcoin Yardstick measures the ratio of Bitcoin market cap to hash rate — two fundamental metrics which, when compared to one another, offer …

Major cryptocurrency derivatives exchange Deribit has halted withdrawals after suffering a $28 million hot wallet hack. Deribit exchange got its hot wallet compromised before midnight UTC on Nov. 1, the firm reported on Twitter. The exchange emphasized that client funds are safe as losses are covered by Deribit’s reserves, stating: “Client assets, Fireblocks or any of the cold storage addresses are not affected. It's company procedure to keep 99% of our user funds in cold storage to limit the impact of these type of events.” As part of the ongoing security checks, Deribit had to halt withdrawals, including custodians Copper …

Surging Bitcoin (BTC) network hash rates are causing problems for mining companies but might be rolling out the red carpet for energy giants. The Bitcoin hash rate, the amount of computing power given to the blockchain through mining, has reached another record peak. According to Blockchain.com, the metric hit an all-time high of 267 exahashes per second (EH/s) on Nov. 1 after increasing almost 60% since the beginning of the year. Commenting on the new peak, Capriole Fund founder Charles Edwards speculated that highly efficient government and oil company enterprises were entering the mining game at scale. New Bitcoin hash …

The third quarter earnings for business intelligence firm MicroStrategy revealed a narrowed net loss of $27.1 million for the quarter, while it continues to grow its Bitcoin (BTC) portfolio despite poor crypto market conditions. The world's largest publicly traded corporate Bitcoin owner confirmed it still owns 130,000 BTC at the end of Q3 2022. That amount represents 0.62% of all Bitcoin that will ever be owned, which it says was acquired for a total cost of around $4 billion, or $30,639 per BTC. The company reported on Nov. 1 impairment charges for the quarter of $727,000, far less than the …