Tag Archives: Cryptocurrencies

Bitcoin Consolidates Below $56K Resistance as Buyers Lose Strength

Bitcoin Consolidates Below $56K Resistance as Buyers Lose Strength

BTC has remained in a consolidation phase since February. Bitcoin (BTC) is holding short-term support and was trading around $54,000 at press time. The cryptocurrency is now below the 50-day moving average as upside momentum continues to slow. Buyers will need to defend support around $51,000 to stabilize the long-term uptrend. The relative strength index […]

Anyone Expecting Coinbase to Start Trading at Market Open May Be Disappointed

Anyone Expecting Coinbase to Start Trading at Market Open May Be Disappointed

Historical experience shows that it might take until after noon ET for market makers to work out the price of the initial trade in a direct stock listing. While the cryptocurrency exchange Coinbase’s new shares technically could start trading with the overall U.S. equities market at 9:30 a.m. ET, don’t hold your breath: A very […]

PayPal Pushes Crypto Further Mainstream With Checkout Service for 29M Merchants

PayPal Pushes Crypto Further Mainstream With Checkout Service for 29M Merchants

The move could speed the use of crypto in day-to-day commerce. PayPal, which last year added the ability to buy, hold and sell cryptocurrency, is pushing it as a payment method across the 29 million or so online merchants connected to the fintech giant. Announced Tuesday, PayPal’s Checkout will allow bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) to be seamlessly […]

Bitcoin Gains Ahead of $6B Options Expiry After Market Finds $50K Floor

Bitcoin Gains Ahead of $6B Options Expiry After Market Finds $50K Floor

BTC held support around $50K and is approaching resistance around $56K. Bitcoin rose for the first time in three days as traders looked past Friday’s record $6 billion expiration of option contracts to a stronger market next week as April begins. “Returns after prior bitcoin options expiration dates have tended to be positive,” David Grider, strategist at Fundstrat, […]

Bank of America Sees DeFi ‘Potentially More Disruptive Than Bitcoin’

Bank of America Sees DeFi ‘Potentially More Disruptive Than Bitcoin’

There is “no good reason to own BTC unless you see prices going up,” the bank says, but it is intrigued by decentralized finance. “Bitcoin is the most talked about cryptocurrency but Ethereum [the blockchain] has more features, including being more flexible” in its hosting of decentralized finance (DeFi) than the Bitcoin blockchain, according to Bank of America. […]

JPMorgan tells private wealth clients that bitcoin can be a portfolio diversifier ‘if sized correctly’

JPMorgan tells private wealth clients that bitcoin can be a portfolio diversifier ‘if sized correctly’

Quick Take “If sized correctly,” bitcoin can be a portfolio diversifier, the bank told its private wealth clients in a new educational deck While the deck is for informational purpose only, it nonetheless reveals the growing interest from JPMorgan’s private clients in the asset class JPMorgan Private Bank has distributed an educational deck to clients […]

Grayscale Discount Might Signal Start of Fresh Bitcoin Rally, Bloomberg’s McGlone Says

Grayscale Discount Might Signal Start of Fresh Bitcoin Rally, Bloomberg’s McGlone Says

Bloomberg Intelligence analyst Mike McGlone, who correctly predicted bitcoin (BTC, -2.65%)‘s ascent this year to a price above $50,000, says recent market indicators suggest $100,000 could be the next threshold. McGlone wrote in a March outlook report that a recent drop below zero in the so-called Grayscale premium – a closely watched metric in cryptocurrency markets – could signal […]

Citigroup Helping World Governments Build Digital Currencies, CEO Says

Citigroup Helping World Governments Build Digital Currencies, CEO Says

Citigroup Chief Executive Michael Corbat said his bank is helping governments “around the world” in creating sovereign digital currencies, otherwise known as central bank digital currencies, or CBDC. Speaking to David Rubenstein at a Friday Bloomberg event, Corbat made clear CBDCs are an “inevitable” development in the future of money. Citigroup, the multinational banking giant, […]

Hong Kong plans to ban retail trading of cryptocurrencies

Hong Kong plans to ban retail trading of cryptocurrencies

Cryptocurrencies will now come under fresh regulations in Hong Kong as its Securities and Futures Commission (SFC) proposes to ban retail investors from trading in cryptocurrencies. The new rules also aim to force crypto exchanges in Hong Kong to obtain licenses. During the Hong Kong Fintech Week event on Tuesday, Chief Executive Officer of the SFC, Ashley […]