CryptOps News

Flash Crash on Bitmex Sends Bitcoin Tumbling to $8,900 Bitcoin’s price on Bitmex plummeted to $8,900 in a flash crash late Monday, diverging significantly from the global average price of around $67,400, due to large sell orders on the XBT/USDT pair. Bitmex is investigating the incident, which involved over 850 BTC being sold, causing the dramatic price drop while other exchanges showed prices well above $60,000. The event was short-lived, with prices recovering to $67,000 within ten minutes, and Bitmex assured that the crash didn’t affect their derivative markets or funds safety. t.me/cryptopsnews | #Bitcoin

Grayscale Investments Submits Revised Application for Spot Ethereum ETF Grayscale Investments’ Chief Legal Officer announced that the firm has submitted a revised Form 19b-4 for spot Ether exchange-traded funds. The officer, Craig Salm, stated that investors are seeking access to ethereum via a spot Ethereum ETF. t.me/cryptopsnews | #Crypto

Blockchain Basics Act Reaches Tennessee, 16 Legislatures Working on Similar Bills The Blockchain Basics Act, a bill that seeks to secure the rights of state citizens regarding cryptocurrency ownership, self-custody, and mining, has reached Tennessee. The bill, supported by the Satoshi Action Fund, was introduced to the State House by Rep. Kevin Vaughan and simultaneously to the State Senate by Sen. Bo Watson. t.me/cryptopsnews | #Crypto

Bitcoin Technical Analysis: BTC Holds Steady Above $43K as Bulls Defend Support Bitcoin’s price is holding above the $43,000 range after bulls defended key support levels over the weekend. The leading crypto asset is up 2% week-to-date and 5.6% over the past two weeks. t.me/cryptopsnews | #Bitcoin

Bitcoin's Fourth Halving May Unleash the 'Mother of All Reorgs,' Ordiscan Founder Predicts The crypto community is abuzz with anticipation for the upcoming Bitcoin network halving event, projected to occur on or around April 20, 2024. This event is sparking widespread speculation about its distinct importance. As the fourth Bitcoin halving nears, a theory of a potential major blockchain reorganization, fueled by the extraordinary worth of the halving block, is seizing the attention of crypto enthusiasts. t.me/cryptopsnews | #Crypto

Analysts Suggest Financial Giant Charles Schwab Poised to Shake Up Bitcoin ETF Market With Potential Late Entry In the wake of a noteworthy 11-day period during which U.S.-centered spot bitcoin exchange-traded funds (ETFs) amassed a trading volume totaling $25.36 billion, discussions have emerged about the potential involvement of Charles Schwab, the American multinational financial services corporation. Eric Balchunas, Bloomberg’s lead ETF analyst, advises, “don’t sleep on Schwab, they’re never first to market in anything but they make back impact when they come in.” t.me/cryptopsnews | #Crypto

Bitcoin's Hashrate Rebounds From January Dip as Miners Eye Upcoming Difficulty Adjustment Bitcoin’s cumulative hashrate witnessed notable swings starting in late December, with a pronounced decline occurring in mid-January. This decrease was primarily attributed to the severe cold in Texas, leading many miners to pause their operations temporarily. By Jan. 21, 2024, the hashrate’s seven-day simple moving average (SMA) dipped under the 500 exahash per second (EH/s) mark, plunging to a year’s low at 482 EH/s. However, since this low, the hashrate has rebounded, showing a 10.99% increase to 535 EH/s. t.me/cryptopsnews | #Bitcoin

$867 Million Erased — Grayscale's GBTC Experiences Record 20,803 Bitcoin Reduction in 24 Hours Recent data from Grayscale’s GBTC spot bitcoin exchange-traded fund reveals a significant reduction in its holdings, with 20,803.83 bitcoin, valued at $867.98 million, being withdrawn from the fund’s reserves. This substantial outflow, occurring over the past 24 hours, marks the most considerable decrease in GBTC’s reserves since it transformed into a publicly-listed ETF on Jan. 11, 2024. t.me/cryptopsnews | #Crypto

Bank of England, HM Treasury Respond to Digital Pound Consultation Amid Strong Public Interest Amidst public interest, the Bank of England and HM Treasury have addressed key concerns regarding the digital pound, reassuring the public of stringent legislative measures for privacy and control, alongside the maintenance of traditional cash. t.me/cryptopsnews | #Crypto

Crypto, AI and Data Centers Could Double Energy Consumption in 2026 The aggregated demand for energy from crypto, artificial intelligence (AI), and traditional data centers could double in 2026. According to a report by the International Energy Agency (IEA), the consumption growth might mean adding a country like Sweden (in the best case) or Germany (in the worst case) to the global energy demand. t.me/cryptopsnews | #Crypto

Canadian Court Declares Freeze on Crypto Donations During 'Freedom Convoy' Protests Unconstitutional In a judicial rebuke, the Federal Court of Canada ruled that the Trudeau government’s decision to freeze cryptocurrencies during the 2022 “Freedom Convoy” protests was unconstitutional. t.me/cryptopsnews | #Crypto

Grayscale's GBTC Offloads $527M in Bitcoin as Spot ETFs Record Lower Trading Volumes; Other Funds Continue BTC Accumulation Based on the latest data, the recently introduced spot bitcoin exchange-traded funds (ETFs) experienced their lowest trading volume day since Jan. 11, 2024, recording roughly $1.28 billion in volume on Wednesday. Additionally, figures indicate that Grayscale’s Bitcoin Trust GBTC has offloaded another tranche of bitcoins, totaling 13,178.50 bitcoin valued at $527 million, in the last 24 hours. t.me/cryptopsnews | #Crypto

Coinbase 'Extensively Prepared' for Spot Bitcoin ETF Approval Crypto exchange Coinbase says that it has “extensively prepared” for spot bitcoin exchange-traded fund (ETF) approvals by the U.S. Securities and Exchange Commission (SEC). Most spot bitcoin ETF applicants have named the Nasdaq-listed crypto platform as the custodian for their bitcoin. t.me/cryptopsnews | #Crypto

Bitcoin Technical Analysis: BTC Enters 2024 With Subtle Signals and Low Volume As the clock turned to 2024, bitcoin’s price danced between $42,094 and $42,781 per unit. On Jan. 1, amid the holiday’s quiet, bitcoin’s current technical indicators offer a mixed bag of signals, setting a contemplative stage for the year ahead. t.me/cryptopsnews | #Bitcoin

Vaneck Director: People Tend to Underestimate Long-Term Impact of Spot Bitcoin ETFs Vaneck’s director of digital assets strategy has explained why people tend to underestimate the long-term impact of spot bitcoin exchange-traded funds (ETFs). He believes that upon the approval of a U.S. spot bitcoin ETF by the Securities and Exchange Commission (SEC), “bitcoin’s price trajectory could follow gold’s blueprint from 2004 and the years after, just much faster.” t.me/cryptopsnews | #Bitcoin

Crypto Crossroads — Contrasting 2024 Predictions Signal a Year of Defining Shifts Throughout the past year, enthusiasm and speculation around bitcoin and other crypto assets have surged, particularly as the year drew to a conclusion. The Motley Fool’s forecasts for 2024 strike a pessimistic tone, anticipating a “buy the rumor, sell the news” scenario related to the spot bitcoin exchange-traded fund (ETF) and further projecting that the crypto market will not decouple from the traditional stock market. In contrast, bitcoin advocates maintain a more optimistic outlook for the upcoming year, estimating the value of bitcoin to range from $80,000 to $120,000. t.me/cryptopsnews | #Bitcoin

Market Dynamics Shift as NFT Sales Tumble 63% Year Over Year According to recent statistics on non-fungible tokens (NFTs) for the past year, sales hit $8.70 billion in 2023. This figure represents a $15.04 billion or 63.35% decrease in NFT sales compared to the previous year. t.me/cryptopsnews | #NFT

New Year's Eve Sees Bitcoin Network Break Daily Transfer Record With Over 731,000 Transactions As 2023 drew to a close on New Year’s Eve, the Bitcoin network eclipsed yet another record by verifying a significant 731,351 transactions in a single day. This achievement outstripped the previous high set on Dec. 24, 2023, or Christmas Eve, where miners confirmed a total of 723,459 transactions. t.me/cryptopsnews | #Bitcoin

Blackrock Reveals Plan to Seed Spot Bitcoin ETF With $10 Million on January 3 Blackrock has revealed a plan to seed its spot bitcoin exchange-traded fund (ETF) with $10 million on Jan. 3. The world’s largest asset manager has engaged in six recent meetings with the U.S. Securities and Exchange Commission (SEC) to address its filing. In response to the SEC’s concerns, the firm has opted for the cash creation model, departing from its initial preference for the in-kind model. t.me/cryptopsnews | #Bitcoin

SEC 'Deeply Regrets' Errors in Case Against Crypto Firm But Tells Court Sanctions Are Not Warranted The U.S. Securities and Exchange Commission (SEC) says that it “deeply regrets” the errors made in the case against crypto firm Debt Box after the court found that the agency made “materially false and misleading representations.” However, the SEC claimed that sanctions are not warranted, adding that it will “conduct mandatory training” for staff involved to avoid similar errors in the future. t.me/cryptopsnews | #Crypto