Posts by bitcoinoxmanager

Despite a favorable U.S. inflation report, Bitcoin (BTC) was unable to overcome a significant resistance level on Thursday, continuing its downward trend that began in early June. The positive inflation news initially boosted market optimism and increased bets on a potential Federal Reserve rate cut, driving interest in higher-risk assets like BTC. For a brief…

Mt. Gox, once the world’s leading crypto exchange, has initiated repayments to customers affected by a 2014 hack that resulted in the loss of 740,000 BTC. This marks the end of a nearly 10-year wait for some users to reclaim their crypto assets. The announcement of repayments, starting in July, triggered selling pressure in the…

After the initial debate of the 2024 election cycle, Republican candidate Donald Trump saw a significant boost in his odds of winning, according to Polymarket. This betting platform revealed increased market sentiment suggesting President Biden might not secure the Democratic nomination or could potentially withdraw from the race. Blockchain bettors were unimpressed with President Biden’s…

Bitcoin’s price action has led to four weeks of negative crowd sentiment, signaling a potential opportunity for bullish traders. Despite a 3% drop in the past 24 hours, sentiment remains pessimistic, with fear and disinterest prevailing. However, Santiment’s indicators suggest that whale accumulation and trader fatigue could lead to a bounce back. With Google Trends…

Drake’s $1 Million Crypto Bet on Oilers and Mavericks at Risk as Both Teams Trail 3-0 Canadian singer Drake is on the verge of losing $1 million in bitcoin after placing two separate $500,000 bets on the Edmonton Oilers and the Dallas Mavericks to win their respective NHL and NBA finals. Drake made the bets…

Bitcoin Sees a Strong May Despite Recent Decline Bitcoin had a robust performance in May, despite a recent drop. The price of bitcoin (BTC) has hovered around $68,000 since the U.S. Memorial Day holiday, but it dipped to near the week’s low during Friday morning trading. At 11:45 am ET, bitcoin was trading at $67,300,…

The latest government report on April’s Consumer Price Index (CPI) showed a slight easing of inflation, with the CPI rising 0.3% compared to economist forecasts of 0.4%. On a year-over-year basis, CPI was higher by 3.4%. Core CPI, which excludes food and energy costs, also rose 0.3% in April and was higher by 3.6% on…

Cathie Wood’s investment firm, ARK Invest, completed the sale of its remaining shares in the ProShares Bitcoin Strategy ETF (BITO) on Thursday. The firm sold 237,983 BITO shares, valued at $6.7 million based on Thursday’s closing price of $28.22, from its Next Generation Internet ETF (ARKW). Last year, ARK initially purchased over 4 million BITO…

In an interview, Noelle Acheson highlighted the potential ripple effects of the yen’s recent sharp decline against the U.S. dollar, suggesting that other fiat currencies might face similar volatility. With U.S. interest rate cuts appearing unlikely due to persistent inflation, investors may turn to alternative assets like gold and bitcoin. The yen’s significant drop against…