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The bank said it sees few positive drivers for the crypto exchange’s share price in the near term.
Data shows most SHIB market depth is under $1 million on various crypto exchanges, and a sell order of that value could move token prices by 2% immediately.
Crypto data firm CCData released the first institutional-grade scoring system that evaluates digital assets focusing on environmental, social and governance aspects.
Bitcoin has failed twice this week to scale the $31,000 mark, with open interest in stablecoin-margined futures rising on both occasions.
ALSO: Former CFTC Chair Timothy Massad told CoinDesk TV that regulatory agencies “don’t have to resolve” the stubbornly troublesome issue whether cryptos are commodities or securities.
Wednesday's CPI report showed sizable decelerations in both overall and core U.S. inflation, which one might've thought would drive BTC's price higher.
Tokens such as AGIX and FET saw modest bump after Musk announced new Artificial Intelligence (AI) company "xAI" to take on ChatGPT.
The latest price moves in crypto markets in context for July 12, 2023.
The bank lifted its MicroStrategy price target to $510, representing 24% potential upside, the report said.
The dollar value of the unlock amounted to 38% of the cryptocurrency's average 30-day trading volume and had potential to push prices lower, per one analyst.
- 14:55Bitwise Executive: Bitcoin Could Reach $1 Million by 2029 Driven by ETF and Government DemandPANews reported on May 1, according to Cointelegraph, that André Dragosch, Head of Research at Bitwise Europe, predicts Bitcoin could reach $1 million by 2029, surpassing gold's current market value of $21.7 trillion. His analysis indicates that Bitcoin's base target price for the 2025 cycle is $200,000, and if the U.S. government adopts a "budget-neutral" strategy to directly allocate Bitcoin, it could rise to $500,000. The first-year performance of the U.S. spot Bitcoin ETF exceeded expectations, with BlackRock's IBIT ETF setting a record for the fastest growth in history. Dragosch believes that as major investment banks like Merrill Lynch and Morgan Stanley gradually open their channels, "structural capital inflows" will extend the Bitcoin cycle.
- 14:37Tether Releases Q1 Report: U.S. Treasury Holdings Near $120 Billion, Traditional Investment Operating Profit Exceeds $1 BillionPANews reported on May 1 that Tether released an attestation report for the first quarter of 2025, issued by BDO, confirming the accuracy of its financial data and Financial Reserves Report (FFRR), and disclosed its asset status as of March 31. The report shows that Tether's total exposure to U.S. Treasury bonds is nearly $120 billion (including indirect holdings), reaching a record high. This quarter, traditional investment operating profit exceeded $1 billion, mainly benefiting from the performance of the U.S. Treasury bond portfolio, with gold earnings partially offsetting cryptocurrency market volatility. Excess reserves reached $5.6 billion, reflecting its liquidity management capability. In terms of operations, the circulating supply of USDT increased by approximately $7 billion, and the number of user wallets increased by 46 million, a quarter-on-quarter growth of 13%. Additionally, Tether invested over $2 billion through Tether Investments in fields such as renewable energy and artificial intelligence, with management emphasizing that such investments are not included in stablecoin reserves but aim to promote a sustainable digital economy. As of March 31, Tether's total assets were approximately $149.275 billion, with total liabilities of about $143.683 billion, and asset size exceeding total liabilities.
- 14:37Bitcoin ETF sees a net outflow of 382 BTC today, Ethereum ETF sees a net outflow of 1648 ETHPANews May 1st news, according to Lookonchain monitoring, today 10 Bitcoin ETFs saw a net outflow of 382 BTC, approximately $36.68 million. Among them, Fidelity had a single-day outflow of 1,462 BTC (approximately $140 million), with a current holding of 198,376 BTC, valued at approximately $19.07 billion. At the same time, 9 Ethereum ETFs experienced a net outflow of 1,648 ETH, approximately $3.03 million. Among them, Grayscale's ETHE had a single-day outflow of 3,987 ETH (approximately $7.32 million), with a current total holding of 1,144,481 ETH, with a market value of approximately $21 billion.