Bitcoin Magazine

2024-07-02 21:54:58 German government sends another $17.6 million in bitcoin to Coinbase, Bitstamp and Kraken: Arkham

Bitcoin addresses labeled as belonging to German authorities appeared to send another 282.74 ($17.6 million) to Coinbase, Bitstamp and Kraken on Tuesday morning — indicating a potential intention to sell the assets — according to on-chain analytics provider Arkham. The German government-labeled addresses began sending bitcoin to crypto exchanges last month following the seizure of 50,000 BTC from the film-piracy site Movie2k in January.

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2024-07-02 08:14:58 Bitcoin's Potential Rebound May Face Resistance at $65K, OnChain Analysis Shows

As bitcoin (BTC) looks to recover from the July loss, new challenges loom, with onchain data suggesting a potential resistance at $65,000. The leading cryptocurrency by market value traded nearly 1% higher at $63,200 as of writing, looking to regain some poise after ending June with a 7% loss. June's drop, which reversed May's upswing, mainly occurred due to miner selling and concerns that ETF inflows represent non-directional arbitrage bets instead of outright bullish bets.

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2024-07-01 23:15:35 CoinShares notes potential sentiment turn for bitcoin despite ETFs’ weekly outflow streak

U.S. spot Bitcoin exchange-traded funds witnessed a combined $37.3 million in net outflows last week for the third consecutive week. Grayscale’s converted GBTC ETF led the outflows with $155 million exiting the higher-fee fund, followed by Franklin Templeton’s EZBC and VanEck’s HODL, which registered $17.3 million and $3.3 million in net weekly outflows, respectively.

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2024-07-01 07:45:11 Bitcoin sees all-time-low weekend trading levels following ETF approvals: Kaiko

Bitcoin's reputation, at least in the mainstream, is nearly synonymous with volatility. However, the cryptocurrency's once-wild weekends may be a thing of the past, as in 2024, trading volume on weekends has sunk to its lowest level in bitcoin's history. While in 2019 up to 28% of bitcoin trading volume took place on the weekends, this past year that number has been only 16%, according to a new report from cryptocurrency research firm Kaiko.

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2024-06-30 00:50:37 Central Bank of Bolivia Unbans Bitcoin From the Nation's Financial Ecosystem

The Central Bank of Bolivia has lifted a blanket ban on using bitcoin and other cryptocurrencies in the national financial system, opening the doors for integrating exchanges and other crypto service providers into its economy. The institution derogated a 2020 resolution prohibiting financial institutions from facilitating crypto-related payments.

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2024-06-28 21:35:34 Wall Street blends digital gold Bitcoin with physical gold in new ETF filings

Traditional financial institutions are finding new ways to offer investors access to digital assets via exchange-traded funds (ETFs). On June 27, Henry Jim, an ETF Analyst with Bloomberg Intelligence, reported on three ETF products that would provide investors access to Bitcoin, Gold, Ethereum, and MicroStrategy. Tidal Investments and Quantify Chaos Advisors have jointly filed a prospectus for a new ETF offering indirect exposure to Bitcoin and Gold.

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2024-06-28 10:55:22 Bitcoin Miner CleanSpark (CLSK) Buys Out GRIID In $155 Million Stock Transaction

CleanSpark (CLSK) – one of the largest publicly traded Bitcoin mining firms – announced on Thursday that it had acquired one of its smaller competitors, GRIID Infrastructure, in an all-stock deal. The merger agreement required CleanSpark to assume all debts and other obligations from GRIID. It also required CleanSpark to provide GRIID with a $5 million working capital loan, and to pay down a bridge loan of $50.9 million to satisfy other obligations from the smaller miner.

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2024-06-27 19:29:01 Bitcoin options implied volatility rises sharply on short-dated puts as traders prepare for potential downside swings: analysts

According to the CF Benchmarks' Bitcoin Volatility Index, the implied volatility for both short-dated puts and short-dated calls was approximately the same at the end of May, prior to the recent market downturn, during which bitcoin's price has fallen by over 14% in the past month. However, CF Benchmarks analysts are now observing a significant increase in implied volatility for near-term puts compared to their corresponding calls.

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2024-06-27 07:35:11 Bitcoin derivatives poised for 'quadruple witching' volatility as Friday's quarterly options expiry approaches, analyst says

The bitcoin options market is braced for heightened volatility, with over 20% of open interest on Deribit set to expire in-the-money (ITM), several analysts said to The Block on Wednesday. "As we approach Friday’s large quarterly expiry, potentially influenced by ‘quadruple witching’ and related volatility in U.S. markets, over 20% of Deribit open interest is set to expire in-the-money, equating to over $2.7 billion, total notional size of Friday's options expiry is over $10 billion," Deribit CEO Luuk Strijers told The Block.

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2024-06-26 20:55:34 Core Scientific to increase CoreWeave infrastructure access to 270 MW

Bitcoin mining firm Core Scientific updated its agreement with AI hyperscaler CoreWeave to provide the latter with 270 megawatts (MW) of total infrastructure access, according to a June 25 press release. Core Scientific said that CoreWeave exercised its first option to contract for an additional 70 MW of infrastructure access, expanding the earlier 12-year agreement for 200 MW of high-performance computing (HPC) hosting contracts from June 3.

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