Bitcoin Marks One Month Of Negative Funding Rates, More Decline Incoming?

Jan 7, 2023

Bitcoin funding rates had first fallen below the neutral level last month. Before that, the funding rates had been fluctuating at and below neutral for the longest time. This new trend has lasted longer than expected as the digital asset’s price continues to struggle. In this report, we take a look at the state of bitcoin funding rates as well as the implications if the present trend continues. Funding Rates Below Neutral When bitcoin funding rates had first fallen below neutral in June, the p ...read more

JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price

Jan 7, 2023

The recent crypto winter has affected miners negatively to the extent that many sold off their Bitcoin and other crypto holdings. In addition, many of these miners could not even pay their loans since their rigs’ values plummeted. As the price falls, there have been a lot of losses for them, given the cost of producing BTC. But now, recent events show that even the cost of producing the crypto for miners has also dropped. Recent news states there has been a 50% dip in the cost of producing ...read more

Finder’s Fintech Experts Predict Cardano Will End the Year at $0.63 per Unit

Jan 7, 2023

Following the recently published bitcoin price prediction report issued by the product comparison web portal finder.com, the site’s researchers polled 53 financial technology (fintech) specialists in order to forecast the future value of cardano (ADA). According to the survey’s participants, cardano is expected to end the year at $0.63 per unit and 51% of the respondents think the Vasil hard fork will bolster the crypto asset’s utility. 53 Fintech Specialists Surveyed Attempt to Fore ...read more

Funko Plans to Launch Jay and Silent Bob NFT Collection via the Digital Collectibles Platform Droppp

Jan 7, 2023

Three months ago, Funko Inc., disclosed that it was entering the non-fungible token (NFT) industry when it announced it acquired a majority ownership stake in the NFT startup Tokenwave. At the time, Funko’s CEO Brian Mariotti explained that “Funko Pop digital NFTs” have the potential to be a “game-changer.” On Friday, Funko announced the company is launching a new NFT collection featuring Jay and Silent Bob from the filmmaker Kevin Smith’s Clerks films. Funko to Introduce Jay a ...read more

Bitcoin Struggles Within A Range, When To Expect A Breakout?

Jan 7, 2023

Bitcoin had previously succumbed to the bears and sank below the $20,000 mark for a considerable period of time. At press time however, the coin managed to rise above the $20,000 mark. Market conditions are still fragile and BTC can again fall below the $20,000 price level. Selling volume had increased which had caused BTC to dip on its chart in the past. As Bitcoin continued to oscillate between $22,000 and $19,000 for the past month, it is imperative that the coin manages to trade above the $2 ...read more

Opensea Cuts 20% of the NFT Market’s Staff, Citing ‘Crypto Winter’ and ‘Macroeconomic Instability’

Jan 7, 2023

The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the company adding a variety of new support features. Opensea CEO Reveals Company Layoffs Opensea joins the growing list of crypto asset comp ...read more

Bitcoin ETFs and Open Interest From BTC Futures, Options Follow Crypto Economy’s Spot Market Decline

Jan 7, 2023

Roughly 247 days ago, the total bitcoin futures open interest across 12 different cryptocurrency derivatives trading platforms was $26.73 billion and over the last eight months, bitcoin futures open interest has dropped 60% down to $10.69 billion. Further, the bitcoin exchange-traded funds BITO and BTF have followed bitcoin’s spot market losses, as the bitcoin ETFs have shed between 70% and more than 73% in value since last year’s price highs. Bitcoin Exchange Traded Funds Slide Over 7 ...read more

Putin Signs Law Prohibiting Payments With Digital Assets in Russia

Jan 7, 2023

President Vladimir Putin of Russia has signed into law a bill banning payments with digital financial assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs, a legal category currently covering cryptocurrencies, as “monetary surrogates.” President Putin Approves Legislation Banning Digital Asset Payments in Russian Federation Russian President Vladimir Putin has signed a law imposing direct restrictions on the use of digital fi ...read more

Short Liquidations Climb As Bitcoin Recovers Above $20,000

Jan 7, 2023

Bitcoin had lost its footing above $20,000 at the start of the week, sparking uncertainty among investors who had previously believed that the price of bitcoin was in a recovery trend. This decline saw more sell-offs in the space, albeit to a lesser extent than previously recorded. With the digital asset now starting on another recovery trend though, traders who had bet against its ability to move upward are finding themselves in very unpleasant situations. Bitcoin Short Traders Suffer Losses Bi ...read more

Bitcoin, Ethereum Technical Analysis: ETH Surges Past $1,200 as Latest Shadow Fork Goes Live

Jan 7, 2023

ETH was back in the green, as markets reacted to the release of Shadow Fork 9. Bitcoin was well above $20,000 on Friday, as bulls returned to the crypto market following several days of consolidation. BTC was up by over 5% in today’s session, with ETH not only back into the $1,100 region, but above $1,200. Bitcoin After battling market uncertainty all week long, bitcoin bulls returned to action on Friday, pushing prices well above $20,000. The world’s largest crypto token rose to a ...read more

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