Murtuza Merchant

In a nuanced shift in cryptocurrency markets, Bitcoin (BTC) appears to be entering a stabilization phase with indicators suggesting traders are moving into an accumulation period. Analysts are noting the tepidly good news despite price fluctuations that have seen the leading cryptocurrency trading at $66,300, down 0.7%, but maintaining a 7% gain over the past two weeks. Ethereum, meanwhile, is down 2% at $2,570, though it too has seen a rise of 5.5% over the last two weeks, according to data fr...

The recently confirmed acquisition of stablecoin payment platform Bridge for $1.1 billion by U.S. payment processor Stripe validates the growing importance and legitimacy of stablecoins as a use case for public blockchains—particularly for global cross-border transactions, according to Bernstein. “Stablecoins have become systemically important, now the 18th largest holder of U.S. Treasury assets, alongside major sovereign holders,” Bernstein said in a note sent to Decrypt. The integration of sta...

Bitcoin (BTC) and Ethereum (ETH) are approaching critical resistance levels, with experts indicating that both assets could attract significant attention if they break through. The Bitcoin price has fallen 2% in the past day to $66,960, while Ethereum is down 3% at $2,630 during European trading hours, according to data from CoinGecko. Despite the short-term dip, market analysts are optimistic about a potential breakout. Speaking with Decrypt, Maria Carola, CEO of Cayman Islands-based cryptocurr...

Bitcoin ETFs are witnessing a record surge in inflows, and according to analysts, the momentum is far from over. Experts point to several factors, including strong institutional demand, favorable market conditions, and increasing confidence in Bitcoin as an asset class—all of which are likely to fuel further growth in inflows. Bitcoin ETFs saw net inflows of $2 billion last week, making it the third-largest inflow in history. Leading the pack was BlackRock’s (IBIT) ETF, which brought in $1 billi...

As the 2024 U.S. presidential election approaches, the Bitcoin price is still exhibiting upward momentum Monday morning during European trading hours. In fact, BTC briefly touched a high of $69,227 earlier today. The apex cryptocurrency is currently trading at $68,270, down 0.2% over the last 24 hours, according to data from CoinGecko. Meanwhile, Ethereum (ETH) has also seen positive movement, trading at $2,713, up 2.5% during the same period. Experts are attributing the market’s bullish sentime...

With inflows into Bitcoin spot exchange-traded funds having continued for the fourth consecutive day, experts say that the rising Bitcoin dominance—along with record-high open interest and shrinking exchange reserves as indicators—could signal a potential bull run. Speaking to Decrypt, experts have highlighted that Bitcoin’s market dominance has surged to 58%, its highest level since April 2021, and underscores its growing strength. One big factor in the surge has been growing institutional inte...

Bitcoin’s price surge shows no signs of slowing down, with some predicting a breach of the $70,000 price tag in the coming weeks. The world’s largest crypto is currently trading at over $67,600 after swelling to highs not seen since the beginning of August, CoinGecko data shows. Yet is the current rally sustainable? According to Jonathan de Wet, chief investment officer at Zerocap, Bitcoin's upward momentum remains robust, he opined in an investor note on Wednesday.  “We see [Bitcoin] at $70,000...

Juan Tacuri, a senior promoter in a global cryptocurrency Ponzi scheme Forcount, has been sentenced to 20 years in prison by a federal court in New York. The sentence, handed down on Tuesday, marks the maximum statutory term for Tacuri's involvement in the fraud operation known as Forcount, which later rebranded as Weltsys. In a statement issued Wednesday, the U.S. Attorney’s Office for the Southern District of New York said that Tacuri, who actively targeted Spanish-speaking communities, played...

BitMEX co-founder Arthur Hayes on Wednesday predicted a sharp rise in Bitcoin (BTC) as geopolitical conflicts escalate, driving inflation and increased government spending. In a blog post, Hayes argued that the U.S. government’s financial response to conflicts in the Middle East would spur money printing and fuel the next bull run for the Bitcoin price. “We know that war is inflationary. We understand that the U.S. government must borrow money to sell bombs to Israel,” Hayes wrote. “We know that...

Analysts are warning of a potential Bitcoin price correction as open interest in futures markets climbs to new highs for 2024, while trading volumes remain subdued. Experts have suggested that the imbalance between rising leverage and declining activity could create conditions for sudden price reversals if traders begin closing long positions. “Open interest has reached a new peak for the year, and funding rates are at their highest since June,” Illia Otychenko, Lead Analyst at CEX.IO told Decry...

Canary Capital announced Tuesday that it has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) with the intent of launching a Litecoin exchange-traded fund (ETF). The move comes less than a week after Canary Capital fired an application to launch an XRP-based ETF, following in the footsteps of asset manager Bitwise, which submitted its own XRP ETF application on October 1. Such moves signal continued interest in crypto-backed ETFs, following the SEC’s earlier appro...

With only three weeks until the U.S. presidential election, Bitcoin is on track to match its previous all-time high price of nearly $73,800, British multinational bank Standard Chartered said, driven by several key factors. In a note shared with Decrypt, Standard Chartered stated that the recent rise in Bitcoin's price is fueled by strong inflows into Bitcoin ETFs, renewed buying of topside BTC call options, and increasing Donald Trump election odds on prediction markets such as Polymarket and K...

Tokyo-listed Metaplanet Inc. said Tuesday it’s added another $6.8 million Bitcoin to its treasury, bringing its total Bitcoin holdings to $56 million (855.478 BTC). The latest announcement shows it’s continuing its aggressive buying spree that began in April 2024. The company has so far invested roughly $53 million (¥7.965 billion Japanese yen) in the cryptocurrency, with an average purchase price of $61,663 USD per BTC. Metaplanet’s strategy has drawn comparisons to MicroStrategy, which has fam...

Bitcoin spot ETFs saw significant fund inflows on Monday, with over $556 million being poured in, the largest since the first week of June. Fidelity’s ETF (FBTC) led the inflows with $239 million, while Bitwise’s ETF (BITB) contributed $100 million. Additionally, Ethereum spot ETFs experienced a net inflow of $17 million, reflecting growing institutional interest in the crypto market, according to data from SoSo Value. Out of the twelve funds, WisdomTree and Hashdex’s spot bitcoin ETFs had no in...

MicroStrategy Inc. is positioning itself to transform how capital is preserved and transferred globally, according to a recent report by Bernstein Research—and the company’s outspoken co-founder Michael Saylor says the company aims to become a “Bitcoin bank” with a potential trillion-dollar valuation. Bernstein has rated MicroStrategy as "Outperform," with a price target of $290, reflecting a 39% upside from its current price of $209, according to Google Finance. The report states that MicroStra...

As Bitcoin continues its prolonged consolidation phase, Ki Young Ju, Founder and CEO of CryptoQuant, has warned that if no Bitcoin (BTC) bull market emerges within the next two weeks, this year will mark the longest sideways movement in a halving year in the cryptocurrency's history.  His comment comes 285 days into 2024, a year that has seen Bitcoin remain range-bound for an extended period despite earlier bullish expectations. Ki Young Ju’s analysis reflects growing concerns within the crypto...

Metaplanet Inc., the Tokyo-listed firm known for its aggressive foray into Bitcoin (BTC), announced on Friday that it had acquired an additional 108.999 Bitcoin for ¥1 billion (US$6.5 million).  Its latest purchase brings the company's total Bitcoin holdings to 748.502 BTC, reinforcing its long-term bet on the leading crypto. Yet, Metaplanet's Bitcoin acquisition strategy goes beyond simple spot purchases. The company employs a sophisticated approach by selling put options alongside its Bitcoin...

In a display of inflation data anxiety, financial markets are undergoing significant turbulence Thursday, with cryptocurrencies bearing the brunt of investor unease ahead of the crucial Consumer Price Index (CPI) release. The U.S. Bureau of Labor Statistics is set to unveil the latest inflation figures at 8:30 AM Eastern Time, a report that could significantly influence Federal Reserve policy and market sentiment. Cryptocurrency markets saw a sharp decline, with Bitcoin (BTC), the leading digita...

Bitcoin has started showing signs of being undervalued relative to its network fundamentals, providing potential buying opportunities for investors according to analysts. Illia Otychenko, lead analyst at CEX.IO, said there’s been a surge in active Bitcoin addresses—up by 39% over the past week. That signals increased demand and liquidity, he said. Otychenko also noted a sharp drop in Bitcoin’s Network Value to Metcalfe Ratio (NVM). NVM measures the relationship between Bitcoin's market value and...

The Bitcoin price trajectory is set to be heavily influenced by the upcoming U.S. presidential election, Bernstein on Tuesday said, suggesting that if former President Donald Trump wins the 2024 election, Bitcoin could soar to unprecedented levels, exceeding $80,000 to $90,000. However, in the event of a Kamala Harris victory, the near-term outlook for Bitcoin could see a sharp decline, potentially testing a new low in the $40,000 range. "We expect Bitcoin to continue reacting to election odd...