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Tom Lee, Fundstrat Global Advisors co-founder, has put forth a bullish prediction regarding Bitcoin’s (BTC) near-term price action on CNBC’s Squawk Box on April 21. Namely, the financial analyst believes that the leading digital asset struggled at the beginning of the year due to the overleveraged positions of institutional investors.  “Now that deleveraging is done, I think that Bitcoin is gonna catch up to gold. And Bitcoin’s old high was over $110,000, so I think there’s a lot of room to catch up as a sort of non-dollar asset.” At the time of writing on April 21, Bitcoin was trading at $88,210, having marked a 4.43% gain on the daily chart, which has brought year-to-date (YTD) losses down to 5.67%. BTC price 1-day and year-to-date (YTD) charts. Source: Finbold Here’s how much Bitcoin would have to rally to catch up to gold In contrast with the leading cryptocurrency, gold prices have increased by 30.31% since the start of the year, having reached ...

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An Ethereum (ETH) whale, dormant for eight years, has woken up and started selling over $1.3 billion in profits. The whale has held a $2.4 million initial ETH investment since 2016, accumulating a 558-fold return by November 2024. As Lookonchain reported, the whale acquired 398,889 ETH for a $6 average cost per token, totaling $2.4 million. As developed, the purchases happened between January 18 and March 20, 2016, distributed among 28 Ethereum addresses. On November 7, the whale started activating some of its addresses, so far selling 73,356 ETH for $224 million. By posting time, the investor still holds 325,533 ETH, worth $1.09 billion with Ethereum priced at $3,368. Picks for you AI predicts SOL price if Solana ETF is approved 2 hours ago ...

The cryptocurrency market has several kinds of investors, including retail, institutional, and whales. While retail investors include the average Joe, institutional investors are bigger firms. Institutional Investment in XRP: A Comprehensive Analysis According to a recent study conducted by international strategic consulting firm EY-Parthenon, more than 20% of institutional investors admitted to investing in XRP . Study Participants and Demographics 277 institutional investors, including portfolio managers, CEOs, and COOs, participated in the study. The respondents were asset owners, hedge funds, wealth managers, family offices, and asset managers. EY report on corporate crypto investment in'24 (May). About 80% of respondents were US & EMEA. Among current holders, #XRP holdings ticked up to just above 20%.https://t.co/CgQpQL6f34 pic.twitter.com/APIUByJcQ9 — WrathofKahneman (@WKahneman) August 25, 2024 At least 147 of them were from the United States, and about 90 respondents we...

Digital assets saw a new weekly record as inflows hit $2.9 billion last week. Bitcoin recorded inflows of $2.86 billion, while Ethereum, Solana and Polygong saw minor outflows. CoinShares shared the details in its Digital Asset Fund Flows report published on Monday, March 18. The crypto investment space saw a record $2.9 billion in inflows last week, digital assets manager CoinShares says. Per the report, the figure beat the previous week’s $2.7 billion, with this a seventh consecutive week that crypto investment products are seeing inflows. “ This week’s in flows have pushed year-to-date in flows to US$13.2bn, smashing the full 2021 in flows of US$10.6bn ,” CoinShare’s global head of research James Butterfill noted in the Digital Asset Fund Flows report published on Monday, March 18. Bitcoin saw inflows of $2.86 billion In a week where Bitcoin price shot to a new all-time high above $73k before flipping negative to test lo...

OKX teams up with Komainu and CoinShares for institutional asset trading. CoinShares trades on OKX, while Komainu safeguards assets, mitigating counterparty risks. The collaboration establishes a legally robust mechanism, enhancing the reliability of institutional transactions. In a strategic move aimed at fostering institutional adoption of digital assets, cryptocurrency exchange OKX has entered into a partnership with custody provider Komainu and asset manager CoinShares. This collaboration, designed to facilitate round-the-clock trading of segregated assets, addresses a crucial concern for institutional traders—counterparty risks. The partnership comes right on the heels of another OKX partnership with Polygon that saw OKX launch a ZK-powered L2 network built with Polygon CDK. Mitigating counterparty risks with a traditional touch In this innovative partnership, CoinShares will execute trades on the OKX exchange, while Komainu, functioning as a th...

Bitcoin bulls celebrated BTC’s push through a long term trendline resistance, but has anything actually changed? On Oct.4 and Oct. 5 Bitcoin (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to Apr. 22, or Nov. 15 depending on one’s style of technical Analysis . Some traders might be feeling a bit celebratory now that price trades outside of the descending trendline, but have any relevant metrics or macro factors changed enough to support a bullish point-of-view for Bitcoin price? In reality, BTC price simply “consolidated” its way through the trendline by trading in a sideways manner where price has been range bound between $18,500 and $24,500 for the past 114 days. BTC/USDT. Source: TradingView Direction-wise, Bitcoin and Ether tend to trade in tandem with equities and BTC’s Oct. 4 rally to $20,365 comes as the Dow, S&P 500 and Nasdaq closed the day with 2% to 3% gains. BTC, ETH and S&...