Bitcoin (BTC) bears are “exhausted” and are even selling at a loss this week, fresh data confirms. In a tweet on Sept. 14, Philip Swift, an analyst at trading suite platform Decentrader, espied an ongoing bullish trend in spent output profit ratio (SOPR). Bitcoin bears run out of FUD SOPR, a classic metric for determining
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Global investment bank Morgan Stanley is establishing a new cryptocurrency research team. “The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,” the bank said. Morgan Stanley Sets Up New Research Team Morgan Stanley is launching a dedicated cryptocurrency research team, Bloomberg reported
Australian “buy now, pay later” (BNPL) firm Zip, the smaller rival to Square’s recently-acquired Afterpay, is hitching its future growth prospects to the cryptocurrency industry. Zip USA CEO Brad Lindenberg told attendees at the company’s first retail investor day that “The innovation around crypto feels like the internet did in 1995.” The company’s interest in
The infamous dogecoin was one of the first meme-based digital currencies and it’s safe to say that the coin inspired a myriad of meme-focused or joke tokens meant to be used for fun. However, while dogecoin has had a phenomenal 2021 rising 8,515% in 12 months, during the last month dogecoin prices have stagnated a
After scaling up to a relative high of around $53,000 just over two weeks ago, it seemed as though Bitcoin (BTC) was well on its way to reclaiming its former all-time highs. However, the series of events that unfolded over the past week has seen the world’s largest cryptocurrency by total market capitalization lose nearly
Brevan Howard, a European hedge fund management company, has said it will be expanding its crypto business. BH Digital, which is the hedge fund’s recently created unit, is expected to “manage its cryptocurrency and digital assets.” Growing Interest in Crypto From Hedge Funds In addition to creating BH Digital, Brevan Howard, according to a Reuters
The government of El Salvador will reportedly exempt investors from paying a capital gains tax and an income tax on Bitcoin (BTC), according to a presidential legal counsel. Javier Argueta, a legal adviser to President Nayib Bukele, is looking to encourage foreign investment through major tax breaks on Bitcoin, Agence France-Presse reported Sept. 10. “If
DBS Group Holdings, the largest bank in Singapore and Southeast Asia, says its crypto business is “growing very rapidly.” The bank’s digital asset trading platform expects to double the number of members by year-end. Singapore’s DBS Expects Substantial Growth in Crypto Business DBS’s senior executives said in an interview, published by Reuters Monday, that the
Bitcoin (BTC) price is facing an intense period of volatility as the price moved from a $52,950 top on Sep. 7 to a $42,800 low just two hours later. More recently, the $45,000 support was held for a couple of days despite being heavily tested, and this triggered a $3,400 up-and-down swing on Sep. 13.
On Monday, September 13, a press release was published by globenewswire.com and said it was connected to “Walmart Inc,” the American multinational retail corporation. Several mainstream media outlets published stories about it including Reuters, Bloomberg, and CNBC. Not too long after these reports were published, the press release was verified as being “not authentic” by
Business intelligence outfit and corporate Bitcoin (BTC) whale MicroStrategy has increased its BTC ownership with the additional purchase announced on Monday. MicroStrategy CEO Michael Saylor announced the purchase of 5,050 BTC for about $242.9 million at an average of $48,099 per coin. In a Form 8-K filing with the United States Securities and Exchange Commission
Bancoagricola, the biggest bank in El Salvador, is now accepting bitcoin to pay for debts originated from the use of its instruments, according to a PR statement. The institution partnered with Flexa, a payments network, to include cryptocurrency capabilities in its software. Bancoagricola also allows merchants using Wompi services (a digital payment processor) to receive
To celebrate the holiday season in India, cryptocurrency exchanges are looking to lure retail traders by launching aggressive marketing campaigns and giving away crypto. For this year’s Hindu holiday season, which kicked off on Sept. 10, crypto exchanges are encouraging citizens to choose Bitcoin as a gift instead of their traditional choice this time of
Greyp Bikes, a company founded by Croatian innovator and entrepreneur Mate Rimac, has integrated crypto payments into its online billing system. All of its high-tech cycling products can now be purchased using nine different coins thanks to a partnership with payment processor Paycek. Greyp Bikes Accepts Cryptocurrencies for Its Electric Bicycles Croatia’s Greyp Bikes, which
Institutions have been at the forefront of the crypto bull run seen since Q4 2020, but now retail investors have been taking the center stage as well. Bitcoin (BTC) is getting more popular all around the world and it officially became a legal tender in El Salvador on Sept. 7, making it a landmark event
After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid