Bitcoin Financial News

Bitcoin ETF application. Amid this backdrop, a major correction affected Bitcoin, Ether, and various altcoins. Crypto investment services provider Matrixport expects the US SEC to reject all applications to list a spot Bitcoin ETF this month. In today's trade, the global cryptocurrency market cap declined by 4.73% to around $1.65 trillion in the last 24 hours. At 10:34 am, BTC was trading 4.37% lower at $43,192, while Ethereum was down 5.55% at $2,240. Altcoins, such as Polygon, Dogecoin, Avalanche, and Cardano, declined 8-12%. XRP, Solana, Shiba Inu, Litecoin, and Toncoin also plunged.

Derivatives traders are on high alert as signals from the options markets indicate the potential for unprecedented volatility in the Bitcoin market.

As speculation about the upcoming approval or denial of spot bitcoin ETFs reaches a fever pitch, a group of former Citigroup Inc. executives is starting to offer securities backed by the oldest cryptocurrency that they say don’t need the blessing of U.S. regulators. 

Rich Dad, Poor Dad author Robert Kiyosaki has recently shared a unique take on debt, and investment, one that encompasses assets and liabilities. The best selling author took to social media platform Instagram, and said that he uses debt to pay assets. 

After-Hours Stock Movers:

The Bitcoin market, as of January 4th, illustrates a dynamic and cautiously optimistic scenario. Trading at approximately $44,000, Bitcoin has witnessed a 3.33% increase over the last 24 hours, signaling a resilient rebound in the ever-volatile cryptocurrency arena.

The creator of Bitcoin’s fast-rising BRC-20 token standard is worried that one of its top marketplaces is attempting a sly takeover of the entire protocol.

His current business, X (previously known as Twitter), is expanding into new regions with the projected debut of in-app payment services by the middle of 2024. Elon Musk, the brilliant mind behind firms such as SpaceX and Tesla, is pushing his latest endeavour into new territory. This action is considered to be a component of Musk's master plan to convert X into a «everything app,» a notion that has garnered a great deal of attention and discussion because of its potential.

Bitcoin becoming a reserve currency is an interesting topic of discussion. While it is currently not widely used in everyday transactions to the same extent as traditional currencies, there are potential scenarios in which Bitcoin could become a reserve currency in the future.

It is planned that Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), would meet with Lee Bok-hyun, the Chief of South Korea's Financial Supervisory Service (FSS). This meeting is expected to be of critical importance. As reported by Chosunbiz on December 18, this conference, which is scheduled to take place in January, is a proactive approach to examining the dynamics of the cryptocurrency market as well as prospective supervisory measures.

Core Scientific, once a leading player in the Bitcoin mining landscape, is poised to emerge from Chapter 11 bankruptcy proceedings in mid-to-late January 2024, as announced on December 21, 2023. This comes after a tumultuous period marked by financial challenges that led to the company filing for bankruptcy in December 2022​​​​.

In the year 2022, Three Arrows Capital (3AC), which had previously been a well-known brand in the bitcoin hedge fund industry, was confronted with a catastrophic failure. This decrease was not simply a single occurrence; rather, it was a trigger in a chain of domino events that occurred, which caused the cryptocurrency market to be shaken. The court in the British Virgin Islands has taken quick action by freezing assets associated to the fund's founders, Su Zhu and Kyle Davies, as well as Davies' wife, Kelly Chen, with a potential value of up to $1.14 billion.

The U.S. Court of Appeals for the Ninth Circuit has recently concluded a landmark legal process, officially sanctioning the confiscation of 69,370 Bitcoins and other cryptocurrencies from the defunct dark web marketplace Silk Road. This judicial action enforces a previous ruling that acknowledged the U.S. government's rightful claim to these digital assets, which were linked to Silk Road's notorious illegal operations​​.

Prominent Bitcoin (BTC) mining firm Cipher Mining has acquired 16,700 new mining rigs, aiming to position itself as one of the leading players in the industry following the anticipated Bitcoin halving event in April. 

Bitcoin’s recent flash crash has sent shockwaves across the cryptocurrency market, impacting various gaming-related tokens. 

Bitcoin protocol developer Casey Rodarmor has strongly reiterated his opposition to censoring transactions on the blockchain, including controversial media inscriptions enabled by his own Ordinals project.

The digital asset market recorded massive highs on several fronts in Q4 2023 as institutional investors tightened their bullish grip on the market in anticipation of a spot Bitcoin (BTC) ETF approval in the United States.

As speculation about the upcoming approval or denial of spot-Bitcoin ETFs reaches a fever pitch, a group of former Citigroup Inc. executives is starting to offer securities backed by the oldest cryptocurrency that they say don’t need the blessing of US regulators. 

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

The cryptocurrency world is abuzz with significant developments as Bitcoin grapples with market volatility. On Thursday, Bitcoin’s price saw a notable decrease, dropping by nearly 4.50% to $43,000. Amidst this price fluctuation, major financial players like JPMorgan and Goldman Sachs are engaging in talks with Grayscale about the role of a Bitcoin Exchange-Traded Fund (ETF).

Bitcoin stormed above $45,000 on Tuesday for the first time since April 2022 as the world's biggest cryptocurrency started the New Year with a bang buoyed by optimism around possible approval of exchange-traded spot bitcoin funds. Bitcoin touched a 21-month peak of $45,532, having gained 156% last year in its strongest yearly performance since 2020. It was last up 2.5% at $45,318 but remains far off the record high of $69,000 it touched in November 2021. Ether, the coin linked to the ethereum blockchain network, was 1.45% higher at $2,386 on Tuesday, having surged 91% in 2023. Investor focus has squarely been on whether the U.S. securities regulator will soon approve a spot bitcoin ETF, which would throw open the bitcoin market to millions more investors and draw billions in investments.