Bitcoin Financial News

On Nov. 15, several altcoins continued to show strength alongside Bitcoin (BTC), which notched an intra-day high at $37,400. Leading into the week, DYDX, Solana’s SOL (SOL) and Avalanche’s AVAX (AVAX) currently reflect double-digit gains, with each chasing after new year-to-date highs. 

As we approach Bitcoin's (BTC) halving in April, a phenomenon that historically triggers significant market shifts, companies within the space are at a critical juncture. This event is surrounded by speculation and strategic planning, and for some, a sense of uncertainty. While it's laden with opportunities, it's vital for businesses to adopt a balanced approach, integrating a long-term perspective rather than catering to market euphoria.

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Bakkt Holdings is refocusing on digital asset custody as its primary business, announcing support for six new coins in addition to Bitcoin and Ether.

Leading German bank Commerzbank has received a crypto custody license from government regulators.

Bitcoin (BTC) is pumping on Wednesday, as mass liquidations of leveraged traders’ positions continue to drive large swings in the market.

PayPal, a notable player in the global payments realm, has secured approval from the Financial Conduct Authority (FCA) to offer cryptocurrency-related services in the United Kingdom. The authorization was disclosed on the FCA's website, affirming that PayPal has been registered for «certain crypto asset activities» in the region since October 31, 2023. This development is part of PayPal's broader scheme to establish a dedicated facility in the UK, aligning with the post-Brexit operational landscape.

MicroStrategy Incorporated (Nasdaq: MSTR), a leading independent business intelligence company, disclosed its third quarter financial results for 2023 on November 1, revealing a continued focus on Bitcoin acquisition and AI integration in its offerings. The Q3 report highlighted an acquisition of 6,067 bitcoins at a total cost of $167.0 million, averaging $27,531 per bitcoin, bringing their total holdings to 158,400 bitcoins valued at $4.69 billion as of October 31, 2023. The report also indicated a year-over-year revenue increase of 3% amounting to $129.5 million, with significant growth in Software Licenses Revenues (up 16% to $45.0 million) and Subscription Services Revenues (up 28% to $21.0 million).

Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. 

Bitcoin (BTC) succumbed to profit-booking on Nov. 13 and 14, which pulled the price below $35,000. Corrections are a normal part of every up-move and are considered healthy as they shake out the weak hands and allow the stronger hands to add to their positions. 

The filing appeared on the Delaware Department of State's Division of Corporations site on Monday, sending XRP's price soaring by more than 10% within minutes. It appeared days after a similar, legitimate filing from BlackRock for the creation of an ETF that holds Ethereum’s ether token. BlackRock quickly confirmed that it was not planning the XRP ETF and the Delaware Department of State has referred the matter to the state's Department of Justice. Last month, publication Cointelegraph falsely tweeted that the SEC had approved BlackRock to launch a US Bitcoin spot ETF, pushing the crypto's price up.

Commerzbank AG has received a crypto custody licence, providing more evidence that European banks are growing warmer toward the asset class. The license will allow the bank to “build up a broad range of digital asset services, with particular emphasis on crypto assets,” the Frankfurt-based bank said in a statement on Wednesday. It’s the “first German full-service bank” to get the license, it said. The move shows how Europe’s lenders are carefully entering the crypto market after initially shying away from the asset class given the associated risks and potential for money laundering. The push comes during a recovery in the price for Bitcoin, the best-known cryptocurrency, following a slump that ensued last year when a string of high-profile businesses collapsed and fraud scandals hit the industry. Other banks are making similar moves which they say reflect client demand. In July, Societe Generale SA’s blockchain unit received the first license issued under France’s new crypto rules. Earlier this month, German cooperative lender DZ Bank AG said it has started a platform for the custody of digital assets. Unlike other European countries, Germany requires banks to get a formal expansion of their existing licenses if they want to provide crypto services including custody. That requirement means the country’s crypto applications afford European banking regulators some transparency into the market.

Funding rates on major token futures have started to return to normal levels after recent rally forced traders to pay unusually high fees to sustain their long positions.

Bitcoin (BTC) recently surged above $37,000 between Nov. 10 and 12, only to falter and undergo a correction toward $35,000 on Nov. 13.

The buy-everything wave that just swept across global markets has bypassed Bitcoin, which is down about 3% since a soft US inflation print rolled across trading screens and stirred a bout of wider risk taking.

The US-based cybersecurity firm Unciphered has warned users globally that their bitcoin (BTC) wallets created before 2016 may be in danger – as are billions in BTC.

Justin Sun’s cryptocurrency exchange Poloniex is preparing to resume operations after suffering a major hack in mid-November, according to an official company announcement posted on Nov. 15

Bitcoin (BTC) tested $35,000 support into the Nov. 14 daily close as sell-side pressure sparked multiday lows.

While the crypto community is still weathering the effects of the recent $100 million Poloniex hack, another cybersecurity threat that could affect billions worth of crypto assets has been discovered by a team of blockchain security experts. 

An unlikely new meme coin, PEPEFI, has undertaken a strange 35x price move over the past 24-hours, leaving cautiously bullish traders baffled, while in other news, market interest in a new Bitcoin ETF event token is skyrocketing – could it be the next big thing?

The U.S. Securities and Exchange Commission is scheduled to announce its decisions on two Bitcoin exchange-traded funds (ETFs) by Nov.17, according to Bloomberg Intelligence.