Are Bitcoin Traders Reviving Animal Spirits with $20M Locked in $200K Call Option?

Deribit data indicates a surge in activity for the $200,000 strike bitcoin call option, which is significantly higher than the current market rate of the cryptocurrency. Open interest in options has reached all-time highs alongside the impressive rally in bitcoin’s price. Investor optimism, reminiscent of the bullish sentiment in 2021, is driving increased interest in…

Loading

Read More

Bitcoin on Track for Largest Monthly Increase in 36 Months

Analysts suggest that the cryptocurrency market still has significant potential for growth. Bitcoin is set to end February with an impressive 44% increase, marking its most substantial monthly gain since December 2020. According to Galaxy’s Alex Thorn, the demand for Bitcoin through U.S.-listed spot bitcoin ETFs is met with limited supply, primarily due to long-term…

Loading

Read More

Ether and Mantle Lead Major Cryptocurrencies as Bitcoin Traders Anticipate Correction to $48K

Bitcoin prices remained relatively stable over the weekend, showing low volatility typical of such periods. Conversely, ether and several other tokens within the ecosystem recorded gains, fueled partly by the emerging narrative around the new ether ETF. During the Asian morning hours on Monday, Bitcoin lingered around the $51,500 mark, while ether managed to reclaim…

Loading

Read More

Possible Resolution to FTX Hack Mystery: U.S. Charges Three Individuals with Theft, Including Notorious Assault on Cryptocurrency Exchange

The federal indictment does not explicitly name Sam Bankman-Fried’s FTX as the targeted entity, yet Bloomberg has reported it to be the victim. On Wednesday, the U.S. federal government charged three individuals in a prolonged phone hacking scheme that climaxed in the notorious theft of $400 million from FTX during the collapse of Sam Bankman-Fried’s…

Loading

Read More

The flow of funds into Bitcoin ETFs indicates a negative trend for the first time since their launch.

Outflows from Grayscale’s GBTC have stayed elevated, while inflows for the other funds collectively have decelerated. Data from Bloomberg Intelligence analyst James Seyffart reveals that the 10 spot bitcoin ETFs, including GBTC, experienced a net outflow of $158 million on Wednesday. Although daily flows can be volatile, figures from issuers’ websites show a total bitcoin…

Loading

Read More

Investors in the cryptocurrency market see a loss of $217 million due to apparent Bitcoin sales by Grayscale weighing on the market.

Analysts observed that GBTC shares dipped to a 0.9% discount, signaling potential selling pressure. As spot bitcoin ETF approvals unfolded, futures traders anticipating higher crypto prices faced around $217 million in liquidations over the past 24 hours. The approval of spot bitcoin ETFs became a “sell-the-news” event, triggering contrarian bets. Concerns about Grayscale’s potential bitcoin…

Loading

Read More