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What Will Be The Future of Bitcoin?
BTCās Future in Focus: 4 Key Factors That Could Drive or Stall Its 2024 Rally
At press time, the crypto economy is cruising at $2.14 trillion, following a modest uptick Friday morning. There are 88 days left in the year, 32 days until the 2024 U.S. Election Day, and 34 days until the Federal Reserveās next meeting. With numerous developments, including rising tensions in the Middle East, a variety of factors could either fuel or stall bitcoinās bull run. Hereās a breakdown of the four key issu
At press time, the crypto economy is cruising at $2.14 trillion, following a modest uptick Friday morning. There are 88 days left in the year, 32 days until the 2024 U.S. Election Day, and 34 days until the Federal Reserveās next meeting. With numerous developments, including rising tensions in the Middle East, a variety of factors could either fuel or stall bitcoinās bull run. Hereās a breakdown of the four key issu
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TOP 5 SECTORS AT CRYPTO MARKET
The Top 5 Crypto Sectors Driving the Market in October 2024
As October 2024 kicked off, the crypto market has remained steady despite a widespread dip on Tuesday. Since January, thereās been an interesting uptick in specific crypto themes, with artificial intelligence (AI) tokens, bridge cryptocurrencies, and meme coins outshining sectors like exchange tokens and store of value coins. The following editorial explores the top five powerhouse sectors fueling the momentum of todayās crypto econom
As October 2024 kicked off, the crypto market has remained steady despite a widespread dip on Tuesday. Since January, thereās been an interesting uptick in specific crypto themes, with artificial intelligence (AI) tokens, bridge cryptocurrencies, and meme coins outshining sectors like exchange tokens and store of value coins. The following editorial explores the top five powerhouse sectors fueling the momentum of todayās crypto econom
-MicroStrategy's Bitcoin Strategy: Navigating Profits and Market
Impact-
MicroStrategy has emerged as a significant player in the cryptocurrency world, frequently making headlines with its Bitcoin (BTC) purchases. The company's treasury now holds 252,220 BTC, representing 1.20% of the total Bitcoin supply, positioning MicroStrategy as one of the largest BTC holders in the industry. The current market value of these holdings is around $17.5 billion, underscoring the importance of Bitcoin investments in the company's strategy.
With an average purchase price of $39,000, MicroStrategy has achieved approximately 80% profit as Bitcoin's price has surged. However, this situation also carries inherent risks. The decision on at what price to sell these Bitcoins could significantly impact the market. If MicroStrategy opts for a large-scale sale, it could lead to price volatility and fluctuations.
Given the cryptocurrency market's inherently volatile nature, a substantial sell-off could trigger price declines. This potential for a market reaction, including panic selling from other investors, might further exacerbate the situation.
On the other hand, MicroStrategy's strategy of holding onto its Bitcoins reflects a long-term investment perspective. The company views Bitcoin as a store of value, which may lead it to prioritize retention over immediate sales. Such an approach could foster a more stable market environment.
In conclusion, MicroStrategy's Bitcoin purchases and potential sales are critical to both the company's future and the broader cryptocurrency market. The price level at which the company chooses to sell and the subsequent market effects will be key factors for investors to monitor closely.
#BTCā #MicroStrategŃ Ā $BTC $BTC
Impact-
MicroStrategy has emerged as a significant player in the cryptocurrency world, frequently making headlines with its Bitcoin (BTC) purchases. The company's treasury now holds 252,220 BTC, representing 1.20% of the total Bitcoin supply, positioning MicroStrategy as one of the largest BTC holders in the industry. The current market value of these holdings is around $17.5 billion, underscoring the importance of Bitcoin investments in the company's strategy.
With an average purchase price of $39,000, MicroStrategy has achieved approximately 80% profit as Bitcoin's price has surged. However, this situation also carries inherent risks. The decision on at what price to sell these Bitcoins could significantly impact the market. If MicroStrategy opts for a large-scale sale, it could lead to price volatility and fluctuations.
Given the cryptocurrency market's inherently volatile nature, a substantial sell-off could trigger price declines. This potential for a market reaction, including panic selling from other investors, might further exacerbate the situation.
On the other hand, MicroStrategy's strategy of holding onto its Bitcoins reflects a long-term investment perspective. The company views Bitcoin as a store of value, which may lead it to prioritize retention over immediate sales. Such an approach could foster a more stable market environment.
In conclusion, MicroStrategy's Bitcoin purchases and potential sales are critical to both the company's future and the broader cryptocurrency market. The price level at which the company chooses to sell and the subsequent market effects will be key factors for investors to monitor closely.
#BTCā #MicroStrategŃ Ā $BTC $BTC
How has VCsā interest in crypto evolved?
In the early days of cryptoĀ venture capital, around 2012 to 2017, the landscape was defined by a sense of both wild optimism and uncertainty. VC firms were drawn to the untapped potential of blockchain technology, often investing in networks that promised transformative solutions but lacked substantial frameworks to bring these visions to life.
At this stage, investors frequently prioritized projects based on their potential for explosive growth, overlooking business metrics or the viability of the technology they were producing. The due diligence process was relatively minimal, leading to heightened volatility and, in some cases, project downfalls, even those thatĀ garneredĀ substantial funding.
Market excitement led to a culture of speculation, where investments were sometimes made on a gut feeling rather than a thorough analysis of the technology stack or market fit.
This environment attracted not just seasoned VC funds and investors but newcomers eager to participate in what seemed like a gold rush. As a result, projects and networks emerged with ambitious whitepapers and unrealistic promises. Yet few had the expertise and guidance to deliver on their claims.Ā
As the markets matured, the shortcomings of early VC strategies became clear. To save face, many marquee VC firms that had only dipped their toes into blockchain quickly pulled out of the industry altogether. However, this paved the way for a more cautious and strategic approach focusing on real-world applications, infrastructure, and emerging technologies that provided a sense of stability and sustainability to the crypto market.Ā
This shift reflects a broader trend in VC funding where investors increasingly evaluate what a project and network can provide beyond a concrete product or solution. Societal and environmentalĀ impactĀ are becoming more important to VCs as they aim to support blockchain projects that bring communities together.
#venturecapital #CryptoNewss
In the early days of cryptoĀ venture capital, around 2012 to 2017, the landscape was defined by a sense of both wild optimism and uncertainty. VC firms were drawn to the untapped potential of blockchain technology, often investing in networks that promised transformative solutions but lacked substantial frameworks to bring these visions to life.
At this stage, investors frequently prioritized projects based on their potential for explosive growth, overlooking business metrics or the viability of the technology they were producing. The due diligence process was relatively minimal, leading to heightened volatility and, in some cases, project downfalls, even those thatĀ garneredĀ substantial funding.
Market excitement led to a culture of speculation, where investments were sometimes made on a gut feeling rather than a thorough analysis of the technology stack or market fit.
This environment attracted not just seasoned VC funds and investors but newcomers eager to participate in what seemed like a gold rush. As a result, projects and networks emerged with ambitious whitepapers and unrealistic promises. Yet few had the expertise and guidance to deliver on their claims.Ā
As the markets matured, the shortcomings of early VC strategies became clear. To save face, many marquee VC firms that had only dipped their toes into blockchain quickly pulled out of the industry altogether. However, this paved the way for a more cautious and strategic approach focusing on real-world applications, infrastructure, and emerging technologies that provided a sense of stability and sustainability to the crypto market.Ā
This shift reflects a broader trend in VC funding where investors increasingly evaluate what a project and network can provide beyond a concrete product or solution. Societal and environmentalĀ impactĀ are becoming more important to VCs as they aim to support blockchain projects that bring communities together.
#venturecapital #CryptoNewss
-Trump Makes Big Promises About Crypto in US -
Former president and 2024 Republican presidential candidate Donald Trump has delivered many broken promises in his political career.
This year, Trump has taken up crypto in an attempt toĀ lure in crypto voters. On July 7, the Republican PartyĀ unveiledĀ a draft of its political program, and crypto was specifically mentioned under its innovation program, next to the development programs for artificial intelligence and space expansion. The document summarized the main crypto objective of a Trump administration:
āRepublicans will end Democratsā unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.ā
The political program was codified following Trumpās comments at theĀ 2024 Bitcoin Conference in Nashville, where he said, āI pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harrisā anti-crypto crusade will be over,ā stating firmly that āit will end. It will be done.ā
But will Trump reallyĀ follow throughĀ on these bold promises?
Bitcoin āmade in the USAā
On June 12, TrumpĀ posted on Truth SocialĀ that he wanted āall the remaining Bitcoin to be made in the USA,ā claiming it would help the US become āenergy dominant.āĀ Currently, 90% of the 21-million-capped Bitcoin supply has been mined.
Trumpās aims to bolster the US mining industry and keep Bitcoin production onshore could face significant logistical and regulatory challenges due to the decentralized nature of Bitcoin mining.
Ben Gagnon, CEO of crypto mining firm Bitfarms, told Cointelegraph itās āabsolutely possible and desirable to make America the number one country for Bitcoin mining.ā
#BTCā #CryptoDecision #CryptoNewss
Former president and 2024 Republican presidential candidate Donald Trump has delivered many broken promises in his political career.
This year, Trump has taken up crypto in an attempt toĀ lure in crypto voters. On July 7, the Republican PartyĀ unveiledĀ a draft of its political program, and crypto was specifically mentioned under its innovation program, next to the development programs for artificial intelligence and space expansion. The document summarized the main crypto objective of a Trump administration:
āRepublicans will end Democratsā unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.ā
The political program was codified following Trumpās comments at theĀ 2024 Bitcoin Conference in Nashville, where he said, āI pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harrisā anti-crypto crusade will be over,ā stating firmly that āit will end. It will be done.ā
But will Trump reallyĀ follow throughĀ on these bold promises?
Bitcoin āmade in the USAā
On June 12, TrumpĀ posted on Truth SocialĀ that he wanted āall the remaining Bitcoin to be made in the USA,ā claiming it would help the US become āenergy dominant.āĀ Currently, 90% of the 21-million-capped Bitcoin supply has been mined.
Trumpās aims to bolster the US mining industry and keep Bitcoin production onshore could face significant logistical and regulatory challenges due to the decentralized nature of Bitcoin mining.
Ben Gagnon, CEO of crypto mining firm Bitfarms, told Cointelegraph itās āabsolutely possible and desirable to make America the number one country for Bitcoin mining.ā
#BTCā #CryptoDecision #CryptoNewss
Central Banks Are Secretly Buying Bitcoin
It might sound like a conspiracy, but central banks are almost certainly already buying Bitcoin. Hereās why:
Hedging Against Their Own Policies
Nearly all countries areĀ up to their ears in debt. Since austerity measures are not politically acceptable, they must find other ways to manage that debt ā and the easiest path is just to inflate it away! If you make the value of each dollar of debt worth less and less each year, it naturally becomes easier to find the money to pay it off.
Hereās where central banks come in, and the game plan is simple: flood the economy with money to purposely cause inflation. In the United States, the Fed supposedly targets a 2% inflation rate, but in reality, they want the inflation rate to be as high as possible without causing political turmoil.
Of course, central banks know all about inflation, which is why they try to minimize the amount of currency they hold in reserve. Instead, they opt for hard assets ā ie. assets that donāt get devalued year after year.
Gold is one such asset, and so are stocks, and even some kinds of bonds.Ā Bitcoin is also an inflation-resistant asset, which is why central banks are probably scooping it up right now.
Bitcoin as a Hedge Against Uncertainty
The global economy is shaky, and as many investors turn to Bitcoin to hedge against financial instability, central banks are likely doing the same. Publicly,Ā bankers may criticize Bitcoin, but privately they could be buying it to protect their reserves, particularly in countries seeking sanction-resistant assets.Ā Bitcoinās decentralized nature provides an escape from financial sanctionsĀ and offers a hedge against rising debts and inflation as trust in fiat currencies erodes. For central banks in geopolitically sensitive regions, accumulating Bitcoin could serve both as a safeguard against weakening traditional monetary systems and as a means to sidestep external pressures.
#Bitcoinā #bitcoināļø #BTCā #CentralBanking
It might sound like a conspiracy, but central banks are almost certainly already buying Bitcoin. Hereās why:
Hedging Against Their Own Policies
Nearly all countries areĀ up to their ears in debt. Since austerity measures are not politically acceptable, they must find other ways to manage that debt ā and the easiest path is just to inflate it away! If you make the value of each dollar of debt worth less and less each year, it naturally becomes easier to find the money to pay it off.
Hereās where central banks come in, and the game plan is simple: flood the economy with money to purposely cause inflation. In the United States, the Fed supposedly targets a 2% inflation rate, but in reality, they want the inflation rate to be as high as possible without causing political turmoil.
Of course, central banks know all about inflation, which is why they try to minimize the amount of currency they hold in reserve. Instead, they opt for hard assets ā ie. assets that donāt get devalued year after year.
Gold is one such asset, and so are stocks, and even some kinds of bonds.Ā Bitcoin is also an inflation-resistant asset, which is why central banks are probably scooping it up right now.
Bitcoin as a Hedge Against Uncertainty
The global economy is shaky, and as many investors turn to Bitcoin to hedge against financial instability, central banks are likely doing the same. Publicly,Ā bankers may criticize Bitcoin, but privately they could be buying it to protect their reserves, particularly in countries seeking sanction-resistant assets.Ā Bitcoinās decentralized nature provides an escape from financial sanctionsĀ and offers a hedge against rising debts and inflation as trust in fiat currencies erodes. For central banks in geopolitically sensitive regions, accumulating Bitcoin could serve both as a safeguard against weakening traditional monetary systems and as a means to sidestep external pressures.
#Bitcoinā #bitcoināļø #BTCā #CentralBanking
free alpha : long
This Weekās Crypto Gainers and Losers: Meme Tokens Outshine Bitcoin and Ethereum
In the midst of a more optimistic crypto market, both bitcoin and ethereum have enjoyed steady growth, climbing by 3.13% and 3.61%, respectively, over the past week. Additionally, several other digital currencies experienced even more significant increases, with spx6900 (SPX) stealing the spotlight by skyrocketing 107.2%, making it the standout performer of the week.
Crypto Market Climbs to $2.25 Trillion, SPX and Meme Tokens Shine With Triple to Double-Digit Gains
On Monday, the total global market capitalization for all crypto assets hit $2.25 trillion, marking a 3.01% boost in the past 24 hours. Over the last week, many cryptocurrencies have rallied against the U.S. dollar, recovering from the previous weekās losses. Leading the charge this week was spx6900 (SPX), which shot up by a staggering 107.2%. Additionally, around two dozen coins posted impressive double-digit gains.
Trailing SPX is the artificial intelligence (AI) powered meme tokenĀ goatseus maximusĀ (GOAT), which jumped 70.2% this week. The token reef (REEF) gained 50%, while baby doge coin (BABYDOGE) saw a rise of 45.31%. Also making waves, the book of meme (BOME) leaped by 39.71%, and dog go to the moon (DOG) followed closely with a 38.86% increase. Other notable performers include MOG, AXL, ZEC, BDX, and WLD.
Outside ofĀ BTC,Ā ETH, and stablecoins, the highest trading volumes of the week belonged to SOL,Ā BNB, SUI, PEPE,Ā XRP, DOGE, WIF, NEIRO, and APT. On the downside, only a handful of coins posted double-digit losses. The newly launched scroll (SCR) took the hardest hit, plummeting over 50%, while ftx token (FTT) dropped by 23.37%. Hamster kombat is still struggling, down 13.33% this week, followed by RLB, which fell 11.44%, and HNT, down 11.11%.
The cryptocurrency marketās recent performance highlights renewed optimism, with top assets and standout tokens making impressive gains.
In the midst of a more optimistic crypto market, both bitcoin and ethereum have enjoyed steady growth, climbing by 3.13% and 3.61%, respectively, over the past week. Additionally, several other digital currencies experienced even more significant increases, with spx6900 (SPX) stealing the spotlight by skyrocketing 107.2%, making it the standout performer of the week.
Crypto Market Climbs to $2.25 Trillion, SPX and Meme Tokens Shine With Triple to Double-Digit Gains
On Monday, the total global market capitalization for all crypto assets hit $2.25 trillion, marking a 3.01% boost in the past 24 hours. Over the last week, many cryptocurrencies have rallied against the U.S. dollar, recovering from the previous weekās losses. Leading the charge this week was spx6900 (SPX), which shot up by a staggering 107.2%. Additionally, around two dozen coins posted impressive double-digit gains.
Trailing SPX is the artificial intelligence (AI) powered meme tokenĀ goatseus maximusĀ (GOAT), which jumped 70.2% this week. The token reef (REEF) gained 50%, while baby doge coin (BABYDOGE) saw a rise of 45.31%. Also making waves, the book of meme (BOME) leaped by 39.71%, and dog go to the moon (DOG) followed closely with a 38.86% increase. Other notable performers include MOG, AXL, ZEC, BDX, and WLD.
Outside ofĀ BTC,Ā ETH, and stablecoins, the highest trading volumes of the week belonged to SOL,Ā BNB, SUI, PEPE,Ā XRP, DOGE, WIF, NEIRO, and APT. On the downside, only a handful of coins posted double-digit losses. The newly launched scroll (SCR) took the hardest hit, plummeting over 50%, while ftx token (FTT) dropped by 23.37%. Hamster kombat is still struggling, down 13.33% this week, followed by RLB, which fell 11.44%, and HNT, down 11.11%.
The cryptocurrency marketās recent performance highlights renewed optimism, with top assets and standout tokens making impressive gains.
Piyasalar kafiyeleri sever. Fraktallar bunun en gĆ¼zel ƶrnekleridir
2023 ve 2024 chop season online
#bitcoināļø
2023 ve 2024 chop season online
#bitcoināļø
Sorry guys I was wrong on this idea green box didnt hold the price and seller take the control. I accept the loss and close this position :/
$JTO
$JTO
$JTO
I dont make the rules, Im just playing what I see and this price action will deserve play. Lets see guyz, what's price showing us
I dont make the rules, Im just playing what I see and this price action will deserve play. Lets see guyz, what's price showing us
$JTO
I dont make the rules, Im just playing what I see and this price action will deserve play. Lets see guyz, what's price showing us
I dont make the rules, Im just playing what I see and this price action will deserve play. Lets see guyz, what's price showing us
My mission done here. Dont forget guys '' Trade the plan, plan the trade! '' This is what we gonna do in this market or we all gonna fkd up
GM LEGENDS!
KEEP GRIND
$RENDER
GM LEGENDS!
KEEP GRIND
$RENDER
$RENDER
I will play this setup if I see that manipulation. I hope green box hold the price and will follow this trend. Lets see boys
I will play this setup if I see that manipulation. I hope green box hold the price and will follow this trend. Lets see boys
Nice move from green box to red box. I didnt close this setup but for me its OK, lets see what Asian play and then will make decision what we gonna do guys! GG WP
-$ONDO LONG SETUP
I dont like the share chart a lot but this setup will pretty good. I dunno how you guys be bearish when Ondo fly with Blackrock
*Ondo's $USDY has surpassed @FTI_DA's FOBXX to become the second-largest tokenized US Treasury asset by TVL, now exceeding $439M.
$ONDO
I dont like the share chart a lot but this setup will pretty good. I dunno how you guys be bearish when Ondo fly with Blackrock
*Ondo's $USDY has surpassed @FTI_DA's FOBXX to become the second-largest tokenized US Treasury asset by TVL, now exceeding $439M.
$ONDO
$RENDER
I will play this setup if I see that manipulation. I hope green box hold the price and will follow this trend. Lets see boys
I will play this setup if I see that manipulation. I hope green box hold the price and will follow this trend. Lets see boys
Im simply man, if first green box didnt hold the price I will follow this price action, nothing more
#bitcoināļø #BTCā #BinanceSquareFamily
$BTC
#bitcoināļø #BTCā #BinanceSquareFamily
$BTC
-$ONDO LONG SETUP
I dont like the share chart a lot but this setup will pretty good. I dunno how you guys be bearish when Ondo fly with Blackrock
*Ondo's $USDY has surpassed @FTI_DA's FOBXX to become the second-largest tokenized US Treasury asset by TVL, now exceeding $439M.
$ONDO
I dont like the share chart a lot but this setup will pretty good. I dunno how you guys be bearish when Ondo fly with Blackrock
*Ondo's $USDY has surpassed @FTI_DA's FOBXX to become the second-largest tokenized US Treasury asset by TVL, now exceeding $439M.
$ONDO
Certik: Malicious Actors Stole $753 Million in Q3, Phishing Top Attack Vector
Malicious actors stole $753 million in the third quarter, with phishing being the most costly attack vector. The report emphasizes the need for stronger security measures and warns users to be cautious of phishing scams. Ethereum and Bitcoin networks were the hardest hit chains, with combined losses exceeding $600 million.
Users Urged to Be Wary of Unsolicited Messages
Certikās latestĀ reportĀ reveals that malicious actors stole digital assets worth $753 million in 155 security incidents during the third quarter. Although the security incidents were 27 fewer, the value of stolen digital assets increased by 9.5%. The Q3 losses bring the total value of digital assets stolen by cybercriminals in 2024 to approximately $2 billion.
While Web3 players continue to strengthen their security systems, the Certik report asserts that the rising loss level indicates hackers are becoming more sophisticated. Phishing was identified as the most costly attack vector in the quarter, with $343,099,650 stolen in 65 incidents.
Commenting on this attack vector and prevention measures that Web3 platforms can take, the Certik report said:
''These attacks typically involve bad actors posing as legitimate entities to trick users into revealing sensitive information, such as login credentials. To prevent falling victim to these attacks, users should be wary of unsolicited messages asking for private information, double-check website URLs and email addresses, and enable two-factor authentication (2FA).''
Private key compromises were the next most costly vector, with $324.4 million lost in just 10 incidents. Across the remaining top ten attacks, losses ranged from $39.6 million due to code vulnerability exploits to approximately $175,000 lost after hackers breached access controls.
When assessing losses by chain, the report data indicates the Ethereum network accounted for just over half of the total losses, with $387.8 million siphoned in 86 incidents.
#Bitcoin #Binance
Malicious actors stole $753 million in the third quarter, with phishing being the most costly attack vector. The report emphasizes the need for stronger security measures and warns users to be cautious of phishing scams. Ethereum and Bitcoin networks were the hardest hit chains, with combined losses exceeding $600 million.
Users Urged to Be Wary of Unsolicited Messages
Certikās latestĀ reportĀ reveals that malicious actors stole digital assets worth $753 million in 155 security incidents during the third quarter. Although the security incidents were 27 fewer, the value of stolen digital assets increased by 9.5%. The Q3 losses bring the total value of digital assets stolen by cybercriminals in 2024 to approximately $2 billion.
While Web3 players continue to strengthen their security systems, the Certik report asserts that the rising loss level indicates hackers are becoming more sophisticated. Phishing was identified as the most costly attack vector in the quarter, with $343,099,650 stolen in 65 incidents.
Commenting on this attack vector and prevention measures that Web3 platforms can take, the Certik report said:
''These attacks typically involve bad actors posing as legitimate entities to trick users into revealing sensitive information, such as login credentials. To prevent falling victim to these attacks, users should be wary of unsolicited messages asking for private information, double-check website URLs and email addresses, and enable two-factor authentication (2FA).''
Private key compromises were the next most costly vector, with $324.4 million lost in just 10 incidents. Across the remaining top ten attacks, losses ranged from $39.6 million due to code vulnerability exploits to approximately $175,000 lost after hackers breached access controls.
When assessing losses by chain, the report data indicates the Ethereum network accounted for just over half of the total losses, with $387.8 million siphoned in 86 incidents.
#Bitcoin #Binance
JPMorgan: Gold and Bitcoin Surge as Debasement Trade Gains Momentum
Global investment bank JPMorganās analysts have highlighted the growing impact of the ādebasement tradeā in boosting gold and bitcoin prices. Goldās rise is linked to inflation, geopolitical instability, and waning trust in fiat currencies. Both institutional and retail investors are viewing gold and bitcoin as safe havens amid global economic uncertainty, with future trends depending on geopolitical events and fiscal policies.
JPMorgan Discusses How the āDebasement Tradeā Is Fueling Gold and Bitcoin Gains
JPMorganās analysts have highlighted how the ādebasement tradeā is driving gains in both gold and bitcoin. Led by global strategist Nikolaos Panigirtzoglou, the analysts noted that gold has surged beyond what could be explained by dollar and real bond yield movements alone. Instead, they attribute the increase to a range of factors, including geopolitical uncertainty, inflation concerns, and declining confidence in fiat currencies.
They explained: āThe ādebasement tradeā is a term that reflects a combination of gold demand factors which in our client conversations range from structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about ādebt debasementā due to persistently high government deficits across major economies, to waning confidence in fiat currencies in certain emerging markets, and to a broader diversification away from the dollar.ā
The analysts also emphasized that goldās price, around $2,700 per ounce, and bitcoin, near $60,000, have given them new currency, so to speak. They pointed to the falling share of the U.S. dollar in global currency reserves, noting that the dollar now accounts for just 57% of reserves, according to International Monetary Fund (IMF) data. Despite China pausing its gold purchases since April, JPMorganĀ said:
''There is little doubt that the pace of central bank purchases is key to gauging the future trajectory for gold prices.
Global investment bank JPMorganās analysts have highlighted the growing impact of the ādebasement tradeā in boosting gold and bitcoin prices. Goldās rise is linked to inflation, geopolitical instability, and waning trust in fiat currencies. Both institutional and retail investors are viewing gold and bitcoin as safe havens amid global economic uncertainty, with future trends depending on geopolitical events and fiscal policies.
JPMorgan Discusses How the āDebasement Tradeā Is Fueling Gold and Bitcoin Gains
JPMorganās analysts have highlighted how the ādebasement tradeā is driving gains in both gold and bitcoin. Led by global strategist Nikolaos Panigirtzoglou, the analysts noted that gold has surged beyond what could be explained by dollar and real bond yield movements alone. Instead, they attribute the increase to a range of factors, including geopolitical uncertainty, inflation concerns, and declining confidence in fiat currencies.
They explained: āThe ādebasement tradeā is a term that reflects a combination of gold demand factors which in our client conversations range from structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about ādebt debasementā due to persistently high government deficits across major economies, to waning confidence in fiat currencies in certain emerging markets, and to a broader diversification away from the dollar.ā
The analysts also emphasized that goldās price, around $2,700 per ounce, and bitcoin, near $60,000, have given them new currency, so to speak. They pointed to the falling share of the U.S. dollar in global currency reserves, noting that the dollar now accounts for just 57% of reserves, according to International Monetary Fund (IMF) data. Despite China pausing its gold purchases since April, JPMorganĀ said:
''There is little doubt that the pace of central bank purchases is key to gauging the future trajectory for gold prices.
Spot Bitcoin ETFs Suffer $91.76M Loss as Ethereum ETFs Rebound
U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day in the red, with $91.76 million flowing out of the funds. However, spot ethereum ETFs showed some resilience, pulling in $14.45 million in fresh inflows on Wednesday.
Bitcoin ETFs Experience Outflows as Ethereum ETFs Rise Above
On Oct. 2, 2024, the 12 U.S.-based spot bitcoin ETFs faced a collective outflow ofĀ $91.76 million. The dayās trade volume hit $1.66 billion, with Ark Invest and 21sharesā ARKB leading the downturn, losing $60.28 million.Ā Grayscaleās GBTC followed with a $27.31 million dip, whileĀ Blackrockās IBIT saw a $13.74 million decline, and Bitwiseās BITB lost $11.51 million.
Offering a silver lining, Fidelityās FBTC managed to bring in $21.08 million in positive inflows. The remaining bitcoin ETFs ended the day mostly flat, without notable gains or losses. Meanwhile, ethereum ETFs saw brighter results, with $14.45 million in inflows from $197.82 million in trade volume.
Blackrockās ETHA stood out as the biggest winner, adding $18.04 million.Ā Franklin Templetonās EZET also saw a modest gain of $1.81 million. On the flip side, Grayscaleās ETHE lost $5.4 million, while the rest of the ethereum ETFs wrapped up the day with no significant changes. The $14.45 million gain reduces the cumulative net outflows since July 23 to $557.86 million.
All nine ethereum funds hold $6.51 billion worth ofĀ ETH, representing 2.27% of the total market cap of ethereum. In comparison, the $91.76 million loss brings the 12 spot bitcoin ETFsā cumulative net inflows to $18.53 billion since Jan. 11. According toĀ sosovalue.xyz data, these funds now collectively hold $55.85 billion inĀ BTC, which accounts for 4.64% of bitcoinās total market value.
#ETH #ETHA #Blackrock #ETF $ETH
$ETH
U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day in the red, with $91.76 million flowing out of the funds. However, spot ethereum ETFs showed some resilience, pulling in $14.45 million in fresh inflows on Wednesday.
Bitcoin ETFs Experience Outflows as Ethereum ETFs Rise Above
On Oct. 2, 2024, the 12 U.S.-based spot bitcoin ETFs faced a collective outflow ofĀ $91.76 million. The dayās trade volume hit $1.66 billion, with Ark Invest and 21sharesā ARKB leading the downturn, losing $60.28 million.Ā Grayscaleās GBTC followed with a $27.31 million dip, whileĀ Blackrockās IBIT saw a $13.74 million decline, and Bitwiseās BITB lost $11.51 million.
Offering a silver lining, Fidelityās FBTC managed to bring in $21.08 million in positive inflows. The remaining bitcoin ETFs ended the day mostly flat, without notable gains or losses. Meanwhile, ethereum ETFs saw brighter results, with $14.45 million in inflows from $197.82 million in trade volume.
Blackrockās ETHA stood out as the biggest winner, adding $18.04 million.Ā Franklin Templetonās EZET also saw a modest gain of $1.81 million. On the flip side, Grayscaleās ETHE lost $5.4 million, while the rest of the ethereum ETFs wrapped up the day with no significant changes. The $14.45 million gain reduces the cumulative net outflows since July 23 to $557.86 million.
All nine ethereum funds hold $6.51 billion worth ofĀ ETH, representing 2.27% of the total market cap of ethereum. In comparison, the $91.76 million loss brings the 12 spot bitcoin ETFsā cumulative net inflows to $18.53 billion since Jan. 11. According toĀ sosovalue.xyz data, these funds now collectively hold $55.85 billion inĀ BTC, which accounts for 4.64% of bitcoinās total market value.
#ETH #ETHA #Blackrock #ETF $ETH
$ETH
Bank of Russia Claims Digital Ruble Issuance Won't Cause Inflation
The Bank of Russia has explained that the launch of the digital ruble, the Russian CBDC, will not affect the stateās mechanisms to control inflation or the amount of money issued. The institution clarified that the new currency does not pose risks to the countryās financial stability, and will not change the functions of the banking system.
Bank of Russia: Digital Ruble Not a Risk for the Countryās Financial Stability
The Bank of Russia recently explained that the digital ruble, Russiaās central bank digital currency (CBDC), will not change how the state manages its monetary policy. In a draft outlining the direction of the central bankās policies for 2025-2027, the bank indicated that it would continue to target inflation with the same tools even after the digital ruble launch.
In the document, the bankĀ stated:
''The emergence of a digital form of the national currency will not affect the mechanisms for implementing monetary policy. The Bank of Russia will continue to manage money market rates by conducting operations for providing liquidity to banks and absorbing it.''
Russiaās CBDC is a retail currency, meaning that users can make payments using it directly, like with the Chinese digital yuan. This is different from the CBDCs that some countries are researching, which focus on easing the transactions between financial institutions of the money network.
Analysts are worried about the digital ruble and its possible effects on the Russian economy. Nonetheless, the bank assessed that it would not have an inflationary effect and would only increase the demand for cash and funds in bank accounts, but not money issuance.
The bank also declared that the current system with its two-tier structure will be preserved, and credit institutions will remain functioning lenders, offering custody for the peopleās savings. These will have to support the digital ruble, giving customers tools to open accounts and make transactions using it.
#CBDC #Crypto #BTC #Bitcoin #ETH
The Bank of Russia has explained that the launch of the digital ruble, the Russian CBDC, will not affect the stateās mechanisms to control inflation or the amount of money issued. The institution clarified that the new currency does not pose risks to the countryās financial stability, and will not change the functions of the banking system.
Bank of Russia: Digital Ruble Not a Risk for the Countryās Financial Stability
The Bank of Russia recently explained that the digital ruble, Russiaās central bank digital currency (CBDC), will not change how the state manages its monetary policy. In a draft outlining the direction of the central bankās policies for 2025-2027, the bank indicated that it would continue to target inflation with the same tools even after the digital ruble launch.
In the document, the bankĀ stated:
''The emergence of a digital form of the national currency will not affect the mechanisms for implementing monetary policy. The Bank of Russia will continue to manage money market rates by conducting operations for providing liquidity to banks and absorbing it.''
Russiaās CBDC is a retail currency, meaning that users can make payments using it directly, like with the Chinese digital yuan. This is different from the CBDCs that some countries are researching, which focus on easing the transactions between financial institutions of the money network.
Analysts are worried about the digital ruble and its possible effects on the Russian economy. Nonetheless, the bank assessed that it would not have an inflationary effect and would only increase the demand for cash and funds in bank accounts, but not money issuance.
The bank also declared that the current system with its two-tier structure will be preserved, and credit institutions will remain functioning lenders, offering custody for the peopleās savings. These will have to support the digital ruble, giving customers tools to open accounts and make transactions using it.
#CBDC #Crypto #BTC #Bitcoin #ETH