Bitcoin

Bitcoin (BTC) reserves on derivatives exchanges have dropped to levels last seen before the May price crash. Data from on-chain analytics service CryptoQuant confirmed that as of Tuesday, derivatives reserves totaled 1.256 million BTC — the least since May 11. Institutions repeat Q4 2020 Against a backdrop of institutional interest returning to cryptocurrency instruments such as the Grayscale Bitcoin Trust (GBTC), figures show that major players have in fact been adding to their BTC holdings… Source link

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Bitcoin pulled back on Tuesday after a nearly 20% rise over the past week. The cryptocurrency was trading at around $45,000 at press time and is down 2% over the past 24 hours, compared with a nearly 1% loss in ether over the same period. Analysts remain optimistic about bitcoin despite regulatory uncertainty in the U.S. regarding crypto tax rules.  “The crypto sector itself is new, and leaning on a nascent technology industry for taxes could impair its growth,” Lucia della Ventura, a… Source link

Bitcoin to $100,000. Bitcoin to the moon. Bitcoin to infinity. The world’s largest cryptocurrency is staging a comeback that has taken it up more than 50% from recent lows, reviving animal spirits and coaxing out sky-high price targets that, while a source of comedy for some, emerge when the asset is rallying. Source link

Institutions have not left the Bitcoin (BTC) market even in the face of a 50%-plus bearish correction earlier this year, shows data provided by Glassnode. The blockchain analytics platform reported on Monday that the dominance of Bitcoin transactions exceeding $1 million has surged twofold since September 2020 — from 30% to 70% of the total value transferred. Since retail investors do not typically engage in large-volume transactions, Glassnode guesses that the institutional investors might… Source link

Lawmakers and regulators’ increasing scrutiny of crypto markets, including the debate over the U.S. infrastructure bill’s crypto tax reporting provision, may be spooking retail investors but not institutional ones, recent blockchain data from Glassnode indicates.   These larger investors, as represented by large-value dollar transactions, fueled Bitcoin’s nearly 20% price gains since last week, the Berlin-based blockchain data firm found. A number of analysts say the trend shows that… Source link

Text size A compromise on tax-reporting requirements for companies in the cryptocurrency industry pushed Bitcoin prices higher on Monday. Dreamstime Bitcoin and cryptocurrency stocks were rallying ahead of a compromise on tax-reporting requirements for digital assets in the Senate. Bitcoin was up 5% to around $46,000, while Ethereum was… Source link

Text size A compromise on tax-reporting requirements for companies in the cryptocurrency industry pushed Bitcoin prices higher on Monday. Dreamstime Bitcoin and cryptocurrency stocks were rallying ahead of a compromise on tax-reporting requirements for digital assets in the Senate. Bitcoin was up 5% to around $46,000, while Ethereum was… Source link

It’s been quite the rebound in the crypto world lately. Bitcoin prices were up about 4% on Monday to $45,500, hitting its highest level since mid-May. The recent push has Bitcoin set for its first possible close above its 200-day moving average in several months. From the recent low last month, the leading cryptocurrency by size is up almost 60%. Ethereum has also been trading better as we outlined last week. That strength is continuing this week too as Ether is now trading north of… Source link

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