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Bitcoin and Ether are leading the cryptocurrency markets from the front, but the risk of a short-term pullback remains. News of BlackRock registering the iShares Ethereum Trust increased expectations that the asset manager may eventually apply for an Ether (ETH) spot exchange-traded fund. This is a positive sign as it shows that BlackRock’s cryptocurrency aspirations are not limited to Bitcoin (BTC). Market observers are increasingly optimistic that spot Bitcoin ETFs will be greenlighted by the United States Securities and Exchange Commission in 2024. Bloomberg Intelligence research analyst James Seyffart said on X (formerly Twitter) that there is still a 90% possibility that the regulator will approve a spot Bitcoin ETF by Jan. 10 of the next year. Daily cryptocurrency market performance. Source: Coin360 Galaxy Digital founder Mike Novogratz believes that the approval of the Bitcoin ETF, followed by the Ether ETF, will boost institutional adoption in 2024. During Galaxy Digital’s th...

Dogecoin (DOGE) Analysis has shown that one of the most popular meme coins on the market could be nearing an important breakout. Specifically, crypto analyst Ali Martinez took to X, formerly Twitter, to discuss why the current circumstances for the asset have its potential headed toward an upward trajectory. Specifically, Ali tweeted that Dogecoin is in the middle of a crucial tight zone with massive implications for its impending trajectory. Moreover, he discussed the crucial supply walls that sandwich its current position, one being a support wall and the other being a resistance wall. Source: Pymnts.com Also Read: Dogecoin (DOGE) Mid-November Price Prediction Dogecoin Could be On its Way to Breakout Amid a Tight Zone There are a few digital assets on the market known as Dogecoin. The original meme coin first arrived as a parody of the growing digital assets of the time. Moreover, it was one of the first coins launched after the arrival of the most prominent digital a...

Robinhood’s Bitcoin holdings could reshape the crypto landscape by supercharging the influence of retail investors and possibly creating new market risks. In a swift and intriguing turn of events, a previously enigmatic Bitcoin (BTC) address managed to catapult itself to the esteemed position of the third-largest holder of BTC. As reported by Cointelegraph on Aug. 22, the address in question accumulated a staggering 118,000 BTC. While its identity has now been attributed to Robinhood, questions still linger, as the financial giant has neither confirmed nor denied these allegations. Some on-chain analysts posit that the stash actually belongs to MicroStrategy, the U.S. business intelligence and analytics software firm, which holds 152,800 BTC, as per their recent submission to the U.S. Securities and Exchange Commission. Is TradFi dethroning crypto-focused intermediaries? Should Robinhood's ownership of the 118,000 BTC be validated, the consequences could reverberate across the c...

Glauber Contessoto, known as ‘SlumDOGE Millionaire,’ decided to jump on the Dogecoin bandwagon following Elon Musk’s active promotion of the asset on Twitter in 2020. He went on to take out all his savings and use his credit card to invest $250,000 in the meme coin. This investment saw his holdings surge to $3 million at a certain juncture. Contessoto chose to retain his holdings without selling them. Presently, Dogecoin has plummeted by more than 90% from its peak value of $0.73 in May 2021. Therefore, Contessoto has seen the value of his holdings dwindle to as low as $50,000. I used to have $3 Million in # Dogecoin Now it’s $50,000 What happened? 😣 pic.twitter.com/tOw2pNTPaI — SlumDOGE Millionaire (@ProTheDoge) August 23, 2023 Contessoto posted the above-mentioned tweet, highlighting his angst. Shortly after, responses from the cryptocurrency community started flooding in. Many individuals advised him to liquidate his holdings. How...

Musk Accused Of Defrauding Crypto Investors The lawsuit, filed in Manhattan federal court on Wednesday night, claims that Musk utilized a combination of tactics, including Twitter posts, paid online influencers, and other publicity stunts, to trade profitably through multiple Dogecoin wallets controlled by him or his electric vehicle company, Tesla. The investors assert that these actions led to significant financial losses for themselves, while Musk reaped substantial gains. advertisement Read More: Circle Announces Native USDC Launch On Arbitrum Network One alleged piece of evidence highlighted in the lawsuit was Musk’s sale of approximately $124 million worth of Dogecoin in April. The sale coincided with his decision to replace Twitter’s blue bird logo with Dogecoin’s Shiba Inu dog logo, causing a 30% surge in Dogecoin’s price. As reported earlier on CoinGape, after several deliberations and pushback, the 51-year-old Tesla CEO finally a...

The recovery in Bitcoin and most major altcoins halted near respective overhead resistance levels, indicating that the bears are active at higher levels. The United States stock market recovered sharply on May 17 and May 18 on hopes that the debt ceiling agreement could be reached, but the market gave back some of it gains on May 19 on reports of a temporary halt in the talks. The U.S. dollar index (DXY), which had been rising for the past three days turned down on May 19 after Federal Reserve Chair Jerome Powell hinted at an end to the rate hikes. While speaking at a conference in Washington, D.C., Powell said that stresses in the banking system may restrict the need to raise rates as high as they “would have otherwise to achieve our goals.” Daily cryptocurrency market performance. Source: Coin360 Although Bitcoin’s (BTC) short-term picture is uncertain, analysts remain bullish about the long term. Blockstream CEO and co-founder Adam Back recently said that “hyperbitcoinization” coul...

According to ChatGPT, Bitcoin has a 15% chance it will “fade to irrelevancy” with prices down 99.99% by 2035. A Coinbase executive claims to have discovered a “jailbreak” for artificial intelligence tool ChatGPT, allowing it to calculate the probability of bizarre crypto price scenarios. The crypto exchange’s head of business operations and avid ChatGPT user Conor Grogan shared a screenshot of the results in an April 30 Twitter post — showing that ChatGPT states there be a 15% chance that Bitcoin (BTC) will “fade to irrelevancy” with prices falling over 99.99% by 2035. Meanwhile, the chatbot assigned a 20% chance for Ethereum (ETH) becoming irrelevant and approaching near-zero price levels by 2035. ChatGPT was even less confident about Litecoin (LTC) and Dogecoin (DOGE) however, attributing probabilities of 35% and 45% respectively for the coins to go to near zero. The Coinbase executive concluded that ChatGPT is “generally” a “big fan” of Bitcoin but remains “more skeptical” when it ...

Elon Musk is known for sharing his views on a range of topics, including meme coins. Specifically, Musk’s comments on Dogecoin and his pet dog, a Shiba Inu named Floki Inu, have previously influenced the prices of these meme coins. Elon Musk has submitted a request to a judge to dismiss a $258 billion lawsuit filed against him that alleges he inflated the price of the Dogecoin token. Elon Musk’s lawyers called the lawsuit a “fanciful work of fiction” Musk’s lawyers stated in Manhattan federal court that the lawsuit charged by the Dogecoin investors is nothing but “a fanciful work of fiction”. They further stated that it was filed over the “innocuous and often silly tweets” by Musk about Dogecoin. Also read: Shiba Inu Witnesses Largest Spike in Daily Active SHIB Addresses Musk’s lawyers also pointed out the failure to highlight how Musk intended to defraud anyone with his tweets. They also mentioned that the statements by Musk, which included “ Dogecoin Rulz” an...

Crypto traders are waiting for the result of today's FOMC and it’s possible that the recent downside could reverse course if Powell’s statements hint at an improving U.S economy. Bitcoin (BTC) gained about 40% in January, its best finish in the first month of the year since 2013. The sharp rally caused a change in sentiment and the futures Markets which saw backwardation in November and December started trading at a healthy contango in January, according to Glassnode. Coming out of a bear market low, a rally driven by the leaders rather than the laggards is a sign that the bottoming process may have begun. The rise in Bitcoin’s dominance from about 38% in November to above 42% in January is an indication that smart investors may have started accumulating Bitcoin at lower levels. Daily cryptocurrency market performance. Source: Coin360 After the strong up-move in January, the next big question is how will Bitcoin perform in February. Coinglass data shows that since 2013, Bitcoin ha...