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All this supposed whale buying and selling (including ETF flows) and the price of BTC really doesn't seem to be moving that much.
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Nasdaq-listed software firm MicroStrategy (MSTR), the largest corporate holder of bitcoin (BTC), has acquired another 11,931 BTC for $786 million, according to a Thursday morning press release.
Led by Executive Chairman Michael Saylor, the company as of the end of April held 214,400 bitcoins. This latest acquisition brings the company's total holdings to 226,331 tokens worth just under $15 billion at bitcoin's current price of roughly $66,000. The company's bitcoins were purchased at an average price of $36,798 each, or roughly $8.33 billion.
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Bearish sentiment became more pronounced in the crypto market early Monday after defunct crypto exchange Mt. Gox, which is supposed to return over 140,000 BTC to victims of a 2014 hack, said it will begin repayments next month. Bitcoin slipped to $60,723, registering an over 5% loss on a 24-hour basis at one point. Ether and the broader market followed suit, with the CoinDesk 20 Index (CD20) also falling more than 5%. Broadly speaking, bitcoin's recent retreat from above $70,000 has taken the shape of a double top bearish reversal pattern. However, spot and futures volumes in bitcoin and ether markets on centralized exchanges have been considerably softer than record highs in March, according to FalconX. That's a sign of decreased investor participation or conviction in selling action, often a characteristic of a "bear trap."
Catching a falling knife is risky, but some crypto options traders look to be doing just that, betting on a bullish outcome in a falling market.
Ethereum's native token ether (ETH), the second-largest cryptocurrency by market value, has dropped over 5% to $3,350 in one week, according to CoinDesk data. The decline follows speculation that ether ETFs could begin trading in the U.S. next month and is consistent with weakness in market leader bitcoin and other alternative cryptocurrencies.
Still, according to Amberdata data, some traders have been buying large numbers of ether September expiry call options at the strike level of $4,000 on crypto exchange Deribit.
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"Looking at the block flows this week, we see a ton of buying activity for the September $4,000 calls," Greg Magadini, director of derivatives at Amberdata, said, adding it is a sign of traders betting that "if ETH gets above $4k we likely test and breakout new all-time-highs."
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Hong Kong regulator directs Worldcoin to cease operations citing privacy concerns
May 22 (Reuters) - A Hong Kong regulator on Wednesday served an enforcement notice to Worldcoin Foundation directing it to cease all operations of the cryptocurrency project in the country, citing risk to privacy and personal data.
The Office of the Privacy Commissioner for Personal Data (PCPD) added that Worldcoin should stop scanning and collecting iris and face images of the public using its devices. It also dubbed the data collection as "unnecessary and excessive".
Worldcoin encourages people to have their irises scanned by its "orb" devices, in exchange for a digital ID and free cryptocurrency. More than 5 million people in over 160 countries have signed up to have their irises scanned, according to its website. But the project has drawn criticism over the collection, storage and use of personal data.
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On Monday, financial services firm Nomura Holdings and its digital asset arm Laser Digital released the results of a survey titled the “Institutional Investor Survey on Digital Asset Investment Trends,” which found that more than half of institutional investors surveyed in Japan expressed intentions to invest in the crypto sector in the next three years.
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In a significant expansion of its cryptocurrency offerings, Vaneck has announced the filing of the first U.S. exchange-traded fund (ETF) focused on Solana. This move marks a strategic enhancement of Vaneck’s digital asset products, according to Matthew Sigel, head of digital asset research.
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Filed with the Securities and Exchange Commission (SEC) on June 27, 2024, the Vaneck Solana Trust will operate under the ticker symbol TBD, with its shares expected to be listed on the Cboe BZX Exchange. This initiative follows the increasing demand for digital asset investment products that offer both security and regulatory compliance.
Bitcoin Plunges To $56K As German Government Continues Liquidating Its Holdings
Concerns about the stability of the crypto market rose sharply today as the German government continued its aggressive sale of confiscated Bitcoin (CRYPTO: BTC) on Monday.www.benzinga.com
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