Bitcoin Bull Market Over As 200-Day Trend Turns Bearish

A long-term technical trend indicator for Bitcoin has turned bearish, leading at least one analyst to believe that the bull market may be over. “From a technical standpoint, the bull market is over,” crypto analyst “Crypto₿irb” told his 700,000 X followers on Thursday.  Bitcoin (BTC) exhibits a “persistent trend shift, confirmed by price percentage traveled,…

Nasdaq Proposes Increasing BlackRock’s iShares Bitcoin Trust Option Limits

The Nasdaq International Securities Exchange has filed a proposal with the US Securities and Exchange Commission (SEC) to increase the position limits for options on BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund to 1 million.   Position limits exist to prevent any one investor from controlling too many option contracts on the same stock, thereby reducing…

Investor Slams Crypto’s Network Effects, Experts Disagree

Santiago Roel Santos, founder and CEO of crypto investment company Inversion Capital, said cryptocurrencies are not subject to positive network effects, but other experts disagree. In a recent Substack post, Santos wrote that “crypto is priced for network effects it doesn’t have.” He also pointed to the network effect valuation system, Metcalfe’s Law, saying that…

SEC Must Rethink Allowing Tokenized Stocks: Advocacy Group

The US Securities and Exchange Commission shouldn’t grant broad regulatory relief to crypto companies launching tokenized stock offerings, as it risks the market and investors, argues a stock exchange advocacy group.  The World Federation of Exchanges (WFE) said in a letter to the SEC on Friday that it was “alarmed at the plethora of brokers…

Bitcoin risks decline to $77.4K as Wall Street is ‘trying to kill MSTR’

Bitcoin (BTC) is showing fresh downside risks as a deepening standoff between corporate Bitcoin holder Strategy (MSTR) and global index provider MSCI collides with a weakening technical structure. Key takeaways: Bull flag setup risks sending BTC price to $77.4K As of Wednesday, Bitcoin has consolidated within a bear flag, a short-lived recovery that typically forms…

Animoca Brands Banks On Altcoins As It Eyes Nasdaq Next Year

Animoca Brands founder Yat Siu aims to position his company as a vehicle for investors to gain exposure to broader crypto projects and the altcoin market, as the company plans to go public through a reverse merger next year. “We believe that altcoins, ultimately, over the largest space, are going to outperform Bitcoin as a…

Bitcoin May Not Reach $250K By Year-End After All, Suggests Tom Lee

BitMine chair Tom Lee has seemingly eased off his widely promoted $250,000 year-end Bitcoin forecast, now only giving it a “maybe” that Bitcoin can reclaim its October all-time high of $125,100 before the end of the year. “I think it’s still very likely that Bitcoin is going to be above $100,000 before year-end, and maybe…

New UAE Sweeping Banking Decree Looks to Cement Country’s Global Crypto Position

UAE’s new financial law brings crypto and blockchain into traditional finance and under Central Bank’s supervision. Source link

Tokenized Money Market Funds Surpass $9B, BIS Warns of New Risks

Tokenized money market funds are emerging as one of the most important yield-bearing assets on public blockchains, offering money-market returns and securities-level protections that stablecoins can’t provide, according to a new report from the Bank for International Settlements (BIS). According to the bulletin, tokenized money market funds now hold nearly $9 billion in assets, up…

Bitcoin, Altcoins Bounce, But Bearish Downtrend Prevails For Now

Key points: Bitcoin has been facing selling near $89,000, but the bulls have not given up much ground, suggesting a rally to $93,500. Several major altcoins have started a recovery, but they are likely to face selling at higher levels. Bitcoin’s (BTC) recovery is losing steam as bears attempt to sustain the price below the…