Analysts: Institutional Investor Interest Fueling BTC Rally, Liquidity Crunch...
Crypto analysts are pushing back against the narrative that the current BTC rally is being fuelled by a liquidity crunch afflicting bitcoin mining pools in China. The liquidity crunch, which is caused by an ongoing regulatory crackdown in that country, has reportedly left miners unable to sell their BTC holdings. Miners Are Selling The analysts are instead backing a counter-narrative which points to institutional investor interest as the reason for the current BTC rally. Using data to support their assertions, the analysts suggest that the current bull run, which has different....
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Bitcoin has undergone a strong rally over the past few weeks and months, showing it does have value even in a world where there is much uncertainty. Driving this rally, analysts say, are institutional players. One crypto-asset analyst “Light” noted that from the data he has, he can tell there are serious institutional players that […]
A speechwriter for former U.S. President George W. Bush and a bitcoin critic, David Frum has claimed that the low-interest rates are fueling the crypto asset’s rally. Frum suggests that the crypto asset might experience a “fast and deep price crash” if and when interest rates start to rise. Institutional Interest in BTC In comments made via Twitter, Frum, who regurgitates the BTC mining inefficiency claims, also attacks the crypto asset’s store of the value proposition. He states that of “all the pro-bitcoin arguments, surely the worst is the store against....
Ethereum has entered a volatile phase after reaching a multi-year high near $4,790, retracing sharply to the $4,200 level. The correction represents an 11% decline in just a few days, shaking out overleveraged positions and fueling debates among analysts about ETH’s next move. Related Reading: Ethereum Demand Grows As ETFs Break Records With $2.85B Weekly Inflow Some market watchers warn that Ethereum could face a deeper pullback if the $4,200 level fails to hold as support. A breach here could send ETH lower, with traders eyeing the $3,900–$4,000 zone as the next major demand area. This....
The price of Bitcoin just hit $20,000 for the first time ever in a historic milestone for the world's most popular cryptocurrency. The price of Bitcoin (BTC) has reached $20,000 for the first time in history on Dec. 16. The historic milestone comes just over two weeks after breaking its previous all-time high.BTC/USD weekly chart. Source: TradingviewAt the same time, this rally is different from 2017's due to several reasons that could help BTC soar even higher. These include growing institutional demand, the increasing perception among investors that BTC is a store of value, and stronger....
Following a liquidity crunch, FTX reached out to Binance to solve its liquidity issues through acquisition to keep FTX customers whole.