Bitcoin Financial News

The Coinbase (NASDAQ:COIN) price target was lifted to $200 from $145 at Compass Point on Tuesday, with the firm maintaining a Buy rating on the stock.

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.

Public blockchain project Elasto has unveiled BeL2, a ‘Bitcoin roll-up’ introducing Bitcoin staking and other comprehensive Layer 2 solutions.

Bitcoin (BTC) currently at $42,500 price mark at the time of writing. Despite BTC’s rising demand among institutional investors, its bull run is slowing down as it aims for $45,000. Top analysts identified Fear of Missing Out (FOMO) as a critical factor fueling BTC’s price uptrend and stated that BTC’s prices may be corrected due to short-term holders. Meanwhile, InQubeta (QUBE) and Litecoin (LTC) aim for big rallies.

Grayscale CEO Michael Sonnenshein believes the Securities and Exchange Commission (SEC) needs to approve spot Bitcoin (BTC) exchange-traded funds (ETFs) simultaneously. 

Bitcoin (BTC) witnessed a notable increase of over 5% , reaching $43,100 on Tuesday, amidst pivotal developments in the cryptocurrency landscape.

BlackRock’s proposed spot Bitcoin exchange-traded fund (ETF) has been officially assigned the ticker IBIT, according to an S-1 filing amendment with the Securities and Exchange Commission (SEC).

Meme Mania has returned to the broader crypto market. Could Sponge V2 be the next billion-dollar meme coin for 2023? The project has just launched its stake-to-bridge platform, enabling investors to secure early access before exchange listings.

The crypto market has recently experienced a surge in volatility, leading to more than $215 million in liquidations over the past 24 hours. 

Digital assets funds continue their upward momentum as asset prices continue to rise towards the end of the year with growing optimism for an approval of a spot Bitcoin (BTC) ETF in the United States.

Galaxy Digital, the cryptocurrency group led by US billionaire Mike Novogratz, is seeking additional asset sales from bankrupt digital asset companies following a successful deal that involved selling coins held by FTX. 

Bitcoin (BTC), the flag bearer of the crypto market, is up 155% year-to-date. The number of institutions holding BTC in treasury is growing. A Bitcoin spot ETF is around the corner. And industries are leveraging crypto and the underlying blockchain technology to modernize their processes. This resurgence shouldn’t be surprising. As with any market, crypto has its cyclicality. When interest rates went up and investors turned risk-averse, fewer capital flowed into crypto markets. The collapse of a popular stablecoin and an international exchange exacerbated the situation. And yet, the crypto ecosystem has continued to progress: Scaling up the blockchains and building more applications—in finance and beyond.

BNB and Solana. The global cryptocurrency market cap also rallied nearly 3.6% to around $1.61 trillion in the last 24 hours. At 12.19 p.m., BTC was trading 4.2% higher at $42,912, while Ethereum was up 3.02% at $2,241. Other popular altcoin, such as Solana and Cardano, surged 8.2% and 6.4%, respectively. BNB, Avalanche, Polkadot, Chainlink, and Shiba Inu also gained 2-4%. After trading in the red for the first time in 9 weeks, BTC started the 10th week hitting early $40k support levels but bounced soon to test $43.5k. At the same time, BTC has been able to maintain its dominance at 53.5% for the past few days, which is a positive sign for its price action, said CoinSwitch Markets Desk.

Jaideep Hansraj, MD & CEO, Kotak Securities, says “just stick to what you think your asset allocation should be because ultimately I agree with the fact that it is stocks which make money, it is sectors which make money. But ultimately, equity as an asset class is giving you the returns and it does not matter whether you buy X bank versus Y bank. Yes, I agree with the fact that some of the banks or some of the stocks have not done as well as the other but ultimately it will even out in the long run.” I remember when we spoke, Sensex was at 3000, now Sensex is at 70,000. That is true. We were discussing the importance of FIIs. Everybody is now saying, kahan jaige FII, ab nahi toh kabhi nahi. (Where will FIIs go? If not now, when?) Is there merit in assuming that in the next six months, there would be FOMO, there would be desperation and what we have seen in December is just the trailer of what flows will come in next year? See, I personally believe that FII flows will have an uptick going forward and my reasons are coming from the fact that a combination of how the US interest rates behave and how the dollar index behaves and how crude oil behaves.

NASDAQ-listed Bitcoin mining firm Cipher Mining Inc. has announced the purchase of 37,396 units of the latest Bitmain Antminer T21 series.

The United States Securities and Exchange Commission (SEC) has filed a complaint against Debt Box and other defendants, alleging that the firm was engaged in a fraudulent conspiracy to offer unregistered securities to investors. The action is being brought against Debt Box and other defendants. In August of 2023, the Securities and Exchange Commission (SEC) won a temporary asset freeze and restraining order against Debt Box, its four proprietors, and thirteen additional defendants. The SEC said that the scam was responsible for the raising of about fifty million dollars, in addition to undefined sums of Bitcoin and Ether. According to the Securities and Exchange Commission (SEC), Debt Box was accused of selling «node licenses» that were represented as a mechanism to earn crypto asset tokens via mining operations. However, the SEC said that these «node licenses» were, in fact, a counterfeit.

By Saqib Iqbal Ahmed

A former Lido holder has filed a class-action lawsuit against the Lido decentralized autonomous organization (DAO), a governing body that manages the liquid staking protocol, according to a recent court document.

Blue-chip cryptocurrencies continue to pull lower from multi-month/year highs hit earlier in the month amid profit-taking ahead of what is expected to be a somewhat calmer and lower volume run in to the end of the year, as major market participants take time off for the Christmas holidays.

Ethereum layer-2 network Arbitrum (ARB) reached a new all-time high in daily transactions over the weekend, joining Bitcoin under a waterfall of blockchain activity spurred by inscriptions.

Bitcoin (BTC), the world’s most valuable cryptocurrency, experienced a downturn over the weekend, falling to the $41,000 range. This decline is part of a broader trend that saw the global crypto market cap drop by over 8% in 24 hours, standing at $1.46 trillion. The market’s sluggishness is partly due to a lack of fresh news on ETF applications.