Bitcoin Financial News

The Securities and Exchange Commission delayed making a decision again on whether to approve the first U.S. exchange-traded fund that invests directly in bitcoin, disappointing advocates just days after a court ruling that was viewed by many as clearing a path for the long-awaited product. 

In the world of cryptocurrencies, Bitcoin's unpredictable price movements are always under the microscope. 

The United States Securities and Exchange Commission (SEC) has postponed its decisions on 3 applications for spot Bitcoin (BTC) exchange-traded funds, or ETFs. 

The Chicago Mercantile Exchange (CME) introduced its Bitcoin (BTC) futures contract in December 2017. This was around the same time that BTC had reached an all-time high of $19,800, but by late 2018 the price had dropped to $3,100. Investors in cryptocurrencies quickly learned that CME derivative contracts allowed them to make bullish bets with leverage, but also enabled them to bet against the price, a practice known as shorting.

On the latest episode of Cointelegraph’s Market Talks, host Ray Salmond spoke with Luke Broyles, a popular Bitcoin (BTC) advocate and content creator on YouTube and X (formerly Twitter). During the show, Broyles laid out his Bitcoin investment thesis and his unique perspectives on how the asset’s price could eventually rise into seven-figure territory.

Bitcoin (BTC) holdings in centralized digital asset exchanges have plunged 4% to 2 million signaling both positive and market-worsening concerns.

CME Group, a leading global derivatives marketplace, in collaboration with CF Benchmarks, a prominent provider of cryptocurrency benchmark indices, has announced the launch of two new APAC-specific reference rates for Bitcoin and Ether. These rates, named the CME CF Bitcoin Reference Rate APAC (BRRAP) and CME CF Ether-Dollar Reference Rate APAC (ETHUSD_AP), are set to be introduced on September 11. They will offer a daily reference rate for the U.S. dollar value of these two digital assets, with the publication time slated for 4 p.m. Hong Kong/Singapore time.

Tether, the renowned stablecoin issuer, has unveiled a pivotal change in its approach to blockchain support. In a bid to resonate with the evolving demands of the crypto community and uphold a fortified blockchain ecosystem, Tether will cease support for its tokens on the Kusama, Bitcoin Cash SLP, and notably, the Omni Layer platforms.

Cryptocurrencies like Bitcoin (BTC) are not in their “longest ever bear market” and probably are not even in a bear market at all, according to some industry observers.

The Bitcoin Cash price has moved to $218.93 today, marking a 1% gain in 24 hours and a 15% rise in a week.

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The Dogecoin price has gained by 2% in the past 24 hours, rising to $0.066622 after Robinhood added DOGE support to its custodial cryptocurrency wallet.

Following a challenging year in 2022, positive signals are emerging for the future of Bitcoin (BTC). In July, Bitcoin’s value surged past $30,000, a noteworthy development attributed to asset manager BlackRock’s move to file for a Bitcoin exchange-traded fund (ETF) through the United States Securities and Exchange Commission (SEC).

Cryptocurrency exchanges in Australia have been increasingly communicating with their users as part of preventative measures against scams. According to local crypto firms, such communication is the key to preventing scams as it is able to “break trust” between victims and scammers.

Hashkey Capital will invest a significant part of its assets in second-tier cryptocurrencies, with a goal of outperforming market leader Bitcoin, its portfolio manager said. The fund, run by the investment arm of Hong Kong crypto giant Hashkey Group, launches on Friday. It has already secured potential clients, mainly high-net-worth individuals and investment firms serving rich Asian families, Jupiter Zheng told Reuters. Less than 50% of its investments will be in Bitcoin and Ethereum, the two biggest crypto currencies.

Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled on Tuesday, in a landmark victory for the asset manager that could pave the way for the first product of its kind. A panel of judges in the District of Columbia Court of Appeals in Washington said the securities regulator's denial of Grayscale's proposal was arbitrary and capricious because the SEC failed to explain its different treatment between bitcoin futures ETFs and spot bitcoin ETFs. The price of bitcoin, the world's largest cryptocurrency, was last up 5.75% at $27,609 following the decision. The ruling could be a boon for bitcoin, as a spot bitcoin ETF would provide investors the opportunity to gain exposure to the digital asset without having to purchase bitcoin via a retail exchange or custody the asset in a separate crypto wallet.

Bitcoin (BTC) is retaining this week’s gains — and some traders are doubling down on their bullish BTC price bets.

Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinhood as a leading holder of Ether (ETH) and the owner of the fifth-largest ETH wallet, which contains about $2.54 billion of the cryptocurrency.

Meanwhile, the global cryptocurrency market cap was trading lower, around $1.09 trillion, falling 0.78% in the last 24 hours. The crypto market has traded sideways with downward pressure in the last 24 hours. Investor sentiment, however, continued to climb and jumped 3 points since yesterday; currently in the neutral zone with a score of 52/100, said Shubham Hudda, Senior Manager, CoinSwitch Markets Desk. «BTC seems to have lost the momentum it had gained after Grayscale’s historic win against the SEC. However, analysts predict a 75% chance that Bitcoin ETFs will get approval this year. The SEC is also expected to rule on the ETF applications submitted by other players like BlackRock, Fidelity, Invesco, and WisdomTree, this week,» Shubham said.

Researchers behind the well-known Cambridge Bitcoin Electricity Consumption Index (CBECI) have officially revised its methodology to enhance the accuracy and reliability of the Index’s estimates for the first time since its inception in 2019.

Bitcoin maintained a trading level of $27,280 on Thursday, experiencing a slight decrease of less than 1%. The market's momentum shifted due to a favorable judgment in Grayscale Investments' Bitcoin ETF lawsuit against the US Securities and Exchange Commission (SEC).