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Bitcoin traders flag ‘inflection point’ in key futures market metric as BTC breaks range
Crypto traders say Bitcoin is at an “inflection point” after BTC’s open interest rises and the cryptocurrency’s price pushes into a new range. 5863 Total views 23 Total shares Own this piece of crypto history Collect this article as NFT The Bitcoin BTC $58,977 market is at an “inflection point” after a historic Bitcoin 2024 conference that has seen BTC futures open interest break out of range, according to analysts. “We finally have a breakout of this range,” declared independent analyst Horse, referring to Bitcoin’s futures open interest. Open interest (OI) refers to the total number of BTC-related derivative contracts...
Bitcoin ETF Whales Likely To Invest Major Capital In BTC Acquisition: Blackrock
Home / Crypto Live News / Bitcoin ETF Whales Likely To Invest Major Capital In BTC Acquisition: Blackrock According to Adam Back, Blockstream CEO, in a post on X, the market should anticipate institutional investors with huge buying power to dominate the market. With $5 trillion worth of funds, Bitcoin ETF whales are likely to invest a majority of the capital into Bitcoin acquisition and consolidating their positions. Analysts say that BlackRock, with its over $10 trillion AUM, will probably take the lead among asset managers in spot Bitcoin ETFs. BlackRock sees enormous potential in Bitcoin and has consistently bet...
Swan Bitcoin capitulates, BTC miners shrink, consolidation grows, fears mount
BTC’s block reward mining concentration got a little more concentrated this week, amplifying concerns about the future of the network’s proof-of-work consensus mechanism. On July 22, Cory Klippsten, CEO of the California-based Swan Bitcoin financial services firm, announced that his company “is unlikely to continue with our Managed Mining business in the near term.” Klippsten added, “[w]ithout the expectation of significant near-term revenue from our Managed Mining unit, we are pulling our plans to IPO in the near future.” Worse, Klippsten warned that the derailment of its plans for an initial public offering meant “staff cuts across many functions.” The...
