The ghost of stock market crash is back again to haunt Bitcoin (BTC). It happened last in March 2020. Back then, the prospect of the fast-spreading coronavirus pandemic led to lockdowns across developed and emerging economies. In turn, global stocks crashed in tandem, and Bitcoin lost half of its value in just two days. Meanwhile, the U.S .dollar index, or DXY, which represents the greenback's strength against a basket of top foreign currencies, has now climbed by 8.78% to 102.992, its highest level since January 2017. The huge inverse correlation showed that investors dumped their stocks and Bitcoin holdings and …

Bitcoin (BTC) suffered as investors moved a record amount of cash in Federal Reserve's overnight facility after the central bank started paying interest on the money. The U.S. central bank received $756 billion via its reverse repurchase program from nearly 70 market participants on Thursday. The stash is about $172B higher than the one deposited last week and roughly $235B more than on Wednesday, wherein only 53 investors tapped the facility. A reverse repo facility takes in cash majorly from money-market funds and government-sponsored banks. Until Wednesday, the service offered eligible users a return interest of zero percent. But after …

In terms of price potential, Bitcoin (BTC) is staring at the possibility of outperforming Ether (ETH) in the short term. So believes David Lifchitz, chief investment officer at ExoAlpha — a Paris-based investment management service — who noted that Bitcoin’s upside potential in the near term is higher than that of Ether’s. He said so after spotting a recent shift in the BTC/ETH ratio. In detail, BTC/ETH compares the trend momentum of Bitcoin and Ether. A lower reading suggests that Bitcoin’s price is rising slower than Ether’s. Conversely, a higher BTC/ETH ratio indicates that the Bitcoin price momentum is gaining …

Bitcoin (BTC) wobbled around $40,000 as investors waited for the United States Federal Reserve to release its new set of economic projections on Wednesday. The market's focus shifted to two important questions: Will United States central bank officials signal their intentions to raise interest rates in 2023 instead of 2024? And how much do they think inflation will rise in the remainder of 2021 and in the next year? Taper tantrum In March, the last Fed projection saw 11 Federal Open Market Committee (FOMC) officials agreeing to keep interest rates near zero at least until 2023. That suggested a tightening …

Traditional hedge funds are willing to increase their exposure in Bitcoin and other cryptocurrency markets over the next five years, a new survey has found. Intertrust Global, an international trust and corporate management company, polled the chief financial officers of 100 hedge funds globally about their intention to purchase crypto assets. About 98% of them responded that they expect their hedge funds to have invested 7.2% of their assets in cryptocurrencies by 2026. The survey found that a 7.2% investment into the cryptocurrency sector would equal about $312 billion if replicated across the sector. Meanwhile, about 17% of the polled …

A run-up toward $40,000 in the Bitcoin (BTC) market risked exhaustion as Chicago Mercantile Exchange’s futures opened on Monday with a gap of $1,575, the first since May 17. In retrospect, the downside risks heightened due to Bitcoin’s recent bearish pullbacks near the $40,000 level. Atop that, the said CME gap formed between Friday’s close of $37,325 and Monday’s open of $38,900, raising possibilities that the next correction would prompt Bitcoin bids to fall to at least $37,325. That is due to a general psychological notion among traders that BTC/USD reverses its trends to fill Bitcoin futures gaps more than …

May was a testing time for cryptocurrencies like Bitcoin (BTC). The flagship digital asset was already wobbling after rallying to nearly $65,000 in mid April, owing to profit-taking sentiment among traders. Elon Musk accelerated the sell-off by reversing his company's plans to accept Bitcoin as payment for Tesla's electric cars. Later in the month, the People's Bank of China reiterated to the country's financial institutions against the use of virtual currencies for payments. Chinese authorities are also starting to keep a close eye on crypto mining — the process by which computers mine cryptocurrencies like Bitcoin. More blows to the …

A recent run-up in Ether (ETH) prices against its top rival, Bitcoin (BTC), appears to be at the risk of exhaustion, even as analysts see the second-largest cryptocurrency as the stronger of the two. The ETH/BTC exchange rate has risen by up to 40.19% after bottoming out at 0.0553 BTC on May 23. The powerful rebound move reflected a spike in the capital flow from the spot ETH to spot BTC market. That also led analysts at Delphi Digital, an independent market research firm, to highlight Ether's "formidable strength" in the Bitcoin-quoted markets. They wrote: "If you look at the …

Bitcoin (BTC) bulls should brace for a potential onslaught from bears as the number of margined short positions on Bitfinex jumps by a little over 378%. Known to most by the ticker BTCUSD Shorts, the dataset records the number of bearish positions in the Bitcoin market. In simple terms, traders borrow funds from Bitfinex — their broker — to trade bet on bearish outcomes for the instrument BTC/USD. Meanwhile, the value of opened short positions is measured in BTC. The number of short margined positions on Bitfinex reached an intraday high of 6,468.2202 BTC this Monday, up more than 378% …

Overconfident Bitcoin (BTC) bulls would need to battle more than just Elon Musk as a price prediction model — created by technical analyst pioneer Richard Wyckoff more than 100 years ago — also goes against their wild upside predictions. Dubbed as Wyckoff Method, the model involves a five-phase approach to determine price trends that majorly involve investors' psychological reaction to an asset's supply and demand. For example, in the case of accumulation, when an asset tends to bottom out following sharp price moves downhill, the five phases in order include Selling Climax (SC), Successful Secondary Test (ST), Last Point of …

FIL, the native crypto asset of the Filecoin network, was among the best performing digital assets Friday as it maintained its gains against a very bearish cryptocurrency market. The FIL/USD reached an intraday high of $102.109 at around 3:00 am UTC — up more than 37% on a 24-hour adjusted timeframe. The pair underwent a sharp correction later on profit-taking sentiment but sustained its 24-hour gains by staying upward of 17%. In contrast, Filecoin’s top rivals Bitcoin (BTC) and Ether (ETH) were down more than 6% and 7%, respectively, as of 9:45 am UTC. Almost all the top-cap digital assets …

Polkadot (DOT) and Kusama (KSM) rose in tandem on June 3 as traders assessed a venture capital firm's major investment into their blockchain ecosystems. Dubbed as Master Ventures, an Asian blockchain incubator and venture capitalist announced that it had launched a $30 million venture capital fund called Master Ventures Polkadot VC Fund. In a press release published Wednesday, the firm said that its fund would "support and finance the Parachain bids" of tier-1 blockchain projects that want to win a Parachain slot on the Polkadot Relay Chain. Master Ventures also noted that its proceeds would also assist early-stage projects in …