Bitcoin’s (BTC) hesitation near the all-time high suggests that the bulls and the bears are waiting for a trigger to start the next trending move. The bulls are searching for a positive catalyst to thrust the price above the overhead resistance. On the contrary, the bears may be standing by in anticipation of any signs of weakness that could confirm a short-term top. The event that may act as a trigger is the Nasdaq listing for Coinbase's COIN stock on April 14. A successful listing is likely to be cheered by the crypto bulls because that could signal increased crypto …

Ledger and Shopify have been hit by a class-action lawsuit over a major data breach that saw the personal data of 270,000 hard wallet customers stolen between April and June 2020. Phishing scam victims John Chu and Edward Baton filed the lawsuit in California against the crypto wallet provider and its e-commerce partner Shopify on Tuesday. The plaintiffs alleged that the firms “negligently allowed, recklessly ignored, and then intentionally sought to cover up” the data breach. The data was stolen when rogue employees of Shopify accessed the company’s e-commerce and marketing database for Ledger, with the hackers then selling the …

Bitcoin’s (BTC) resilience in the face of global market uncertainty continues to attract new institutional investors. Dan Loeb, the CEO of New York-based asset management firm Third Point, said that he has been “doing a deep dive into crypto.” To strengthen the venture investments team, Third Point hired former pro-crypto Goldman Sachs analyst Heath Terry, according to Reuters. Loeb’s move into crypto seems to have prodded 'Shark Tank' star Kevin O'Leary to allocate a portion of his portfolio to Bitcoin. Additionally, O'Leary hinted that every operating company that he had invested in was considering investing in Bitcoin. Billionaire Tim Draper …

The U.S. bond yields have softened and this has ignited investor's appetite for risk-on assets. After a negative closing last week, the S&P 500 has started the current week on a positive note. Thi bullish sentiment has also rubbed on to the crypto sector, which is surging higher, led by Bitcoin (BTC). After Tesla and Mastercard’s foray into Bitcoin, analysts at Citigroup believe that Bitcoin is at a “tipping point,” which could either take it mainstream and make it the preferred currency for world trade or result in a “speculative implosion.” Citi’s analysts expect the central bank digital currencies and …

Every bull market witnesses periodic pullbacks, where the weaker hands sell anticipating a top and the stronger hands accumulate for the long term. Data from Coinbase Pro shows two large Bitcoin (BTC) outflows this week, suggesting that institutions are likely continueing to buy the current dip. Comparing historical data, on-chain analytics resource Whalemap, recently said that previous macro tops in Bitcoin in 2017 and 2019 coincided with thousands of large Bitcoin transactions worth $5-7 million. However, the researchers believe there is “no such FOMO in sight for BTC.” JPMorgan strategists Joyce Chang and Amy Ho recently endorsed a 1% allocation …

Institutional investors continue to pour money into the crypto sector even with the current dip below $45,000. On Feb.24, business intelligence firm MicroStrategy announced that it had recently purchased over $1 billion worth of Bitcoin (BTC) at an average rate of $52,765 per coin. This takes the company’s total holding to 90,531 Bitcoin. Another company that bought Bitcoin during the current market correction is Square. The company said it had acquired roughly “3,318 Bitcoin at an aggregate purchase price of $170 million.” These purchases by institutional investors show they are bullish on the long-term prospects of Bitcoin and believe that …

Every uptrend witnesses periodic bouts of profit-booking as short-term traders tend to unwind positions either on adverse news or at critical technical resistance levels. This occurred with Bitcoin (BTC) today as the price momentarily dropped below $48,000 and traders scrambled to close or top up positions before being liquidated. Elon Musk’s tweet on Feb. 20 that said Bitcoin prices “seem high” and the U.S. Treasury Secretary Janet Yellen’s warning today on Bitcoin being “extremely inefficient” could have dampened short-term sentiment. Another possible factor that may have exacerbated the fall could have been the unwinding of excessively leveraged long positions. About …

Bitcoin (BTC) price finally reached a $1 trillion market capitalization on Feb.19, which is an important milestone because as BTC gains size, the digital asset will continue to attract new institutional investors who will consider allocating a portion to their portfolios. Glassnode data suggests that high-net-worth individuals are continuing to pump money into Bitcoin. The number of Bitcoin addresses holding more than $1 million worth of Bitcoin has risen to 94,000. According to data from Whalemap, another positive sign is that the number of addresses holding between 1,000 to 10,000 BTC has been increasing throughout the current bull run, whereas …

Bitcoin (BTC) is gradually gaining ground on gold, the traditional store of value. Data shows that one ounce of gold can only buy 0.0352 Bitcoin as of Feb. 17, the lowest amount of BTC ever. This shows that Bitcoin has been rewarding its investors much more than gold. Bitcoin has massively outperformed gold over various time frames. Even if the latest one-year data is considered, Bitcoin’s risk-adjusted return is 270%, while gold's is only 24% as of Dec. 28, 2020. The result further skews hugely in favor of Bitcoin if longer time frames of four years or eight years are …

A large part of the current crypto bull run has been driven by institutional demand. But for the first time, the institutions may be stepping back. According to CryptoQuant, the Coinbase Premium Index — the difference in Bitcoin’s (BTC) price on Coinbase Pro and Binance — has turned negative, which suggests that pro traders may be taking profits. The institutional selling needs to be monitored closely because roughly 3% of the Bitcoin in circulation is held by these investors. If they start to dump their positions, that could result in an exodus by other traders, leading to a sharp pullback. …

Financial regulators across the world finally seem to be warming up to the idea that cryptocurrencies can trade in tandem with stock markets and also in exchange-traded funds (ETF). On Feb. 11, Canada’s Ontario Securities Commission approved the proposal of a Bitcoin ETF by Accelerate Financial, which marks the first approval of a Bitcoin (BTC) ETF in North America. The Australian Securities and Investments Commission has also softened its stance toward a Bitcoin ETF. ASIC commissioner Cathie Armour said a Bitcoin ETF may get the green light if the particular market has proper rules in place. The approval of Bitcoin …

The fortunes of beleaguered Bitcoin (BTC) spin-off Bitcoin Cash (BCH) took a turn for the worse on Feb. 8 as it was chased out of the top ten cryptocurrencies — by Dogecoin (DOGE). Data from Cointelegraph Markets and CoinMarketCap showed BCH now occupying 12th place after being passed by both DOGE and Stellar (XLM). BCH kicked out of the top ten The latest embarrassment for the altcoin, which last week lost its footing to Binance Coin (BNB) and in January was superseded by Chainlink (LINK), thus relegates it from the top ten cryptocurrencies by market cap. At the time of …