The U.S. Securities and Exchange Commission (SEC) has approved the conversion of Bitwise’s cryptocurrency index fund. However, the agency later issued a stay order halting the launch pending further internal review. Regulator Issues Second Reversal This Month A July 22 filing shows that the SEC had granted an “accelerated approval” for Bitwise’s proposal to convert…
The battle for stablecoin dominance has intensified amidst the broader market rally. New data suggests that the distribution of Tether (USDT) supply between Tron and Ethereum networks appears to alongside Bitcoin’s price cycles. USDT Rivalry In its latest post, CryptoQuant revealed that Tron’s USDT supply was just a fraction of Ethereum’s, with a ratio of…
Altcoins are showing broad strength following Bitcoin’s explosive July rally. Surging open interest across the sector, however, suggests speculative froth may be building. Such a build-up may raise the risk of sharper volatility ahead. Traders Bet Big on Altcoins Bitcoin rallied from $105.4K to a new ATH of $122.7K this month, which pushed its realized…
Bitcoin’s most recent rally has sparked investor conviction rather than the sort of panic selling seen in previous bull cycles. Key on-chain metrics show a surprising trend: major holders aren’t moving their crypto to exchanges despite prices hovering just below all-time highs. The Confidence Signal According to a July 23 post by CryptoQuant analyst Arab…
While the 12-day inflow streak for spot Bitcoin ETFs ended, the same cannot be said for their Ethereum counterparts. In fact, spot Ethereum ETFs have extended their 12-day inflow streak. On July 21 alone, spot BTC ETFs saw $131 million in outflows. This represented the first net withdrawals during this rally toward Bitcoin’s all-time high,…
Binance’s unrealized profit on its Bitcoin reserves has reached an all-time high of around 60,000 BTC. The latest data revealed that Binance’s BTC reserves have been on a steady decline since September 2024, from approximately 631,000 BTC to 574,000 BTC, even as the crypto exchange’s unrealized gains on these holdings continue to climb. Bitcoin Reserves…
Ethereum’s current rally has reignited talk of an incoming altseason, but not everyone is convinced the party will last. Market intelligence platform Santiment has warned that growing chatter about an altseason could signal an impending spike in volatility, citing historical patterns of market reversals following crowd euphoria. Signs of Altseason Emerge Over the past three…
After trading steadily downward for the first four months of the year, Ethereum has rebounded strongly and is currently up more than 65% over the last 30 days. The reason for this rip is “overwhelming demand” from exchange-traded products and corporate treasuries, said Bitwise chief investment officer Matt Hougan on X on Wednesday. The executive…
Since hitting its all-time high (ATH) over a week ago, bitcoin has been consolidating. Analysts at the crypto exchange Bitfinex say the asset’s structural strength remains intact; however, the bull market is entering a more delicate and reactive phase. According to the weekly Bitfinex Alpha report, the market is seeing a natural rotation between bitcoin…
Tron founder Justin Sun will join the next Blue Origin crewed flight, the company announced Tuesday. He is the latest high-profile figure to board Jeff Bezos’ New Shepard rocket. Sun won the first New Shepard seat in a 2021 auction with a $28 million bid that funded 19 space-focused charities, but couldn’t attend the July…