Bitcoin retests $21K as it takes back ground from Ethereum ahead of The Merge

Bitcoin is up 10.3% on the day following an overnight rally taking it back over $20,000 and testing the $21,000 resistance. Interestingly, the ETH-BTC chart shows that Ethereum gave up its recent gains against Bitcoin — falling 4% on the day. Ethereum rose 4.5% against the Dollar overnight but fell by a similar amount against … Read more

Research: Liquidations, volatility expected ahead of Ethereum’s Merge as leverage, open interest and shorts hit all-time high

Ahead of The Merge in September, several on-chain datasets indicate a volatile end to proof-of-work on Ethereum. Will Ethereum rally into Merge Day, or will there be a widespread “sell the news” event? Estimated Leverage Ratios The volume of leverage within the Ethereum ecosystem has hit all-time highs going into The Merge. The impact can … Read more

Ethereum breaks $1.8K first time since June crash – up 104% from local market bottom

The price of Ethereum has broken $1,800 for the first time since the market crash in June amid the Terra fallout. The bullish price movement comes less than a month from The Merge, which is scheduled for September. Ethereum rose strongly against Bitcoin on August 8 as it approached a key resistance that was last … Read more

How should investors prepare for The Merge?

Last week, ETH saw a significant uptick in its price, following the release of the notes from the last dev’s meeting that hinted at the timeline for its upcoming upgrade, known as The Merge. ETH price action, previous 30 days – source: Footprint Analytics This upgrade will change how the network is secured, its energy … Read more

Babel lost over $280M trading with customer funds; wants to raise up to $300M

Embattled crypto lender Babel Finance lost over $280 million while trading with customer funds, The Block reported July 29, citing the firm’s restructuring proposal deck. The report said that Babel Finance lost around 8,000 Bitcoin (BTC) and 56,000 Ethereum (ETH) in June when it faced forced liquidation of its positions due to the market downturn. … Read more

Crypto shines in spite of dire macro conditions

The recent market recovery has caught most by surprise, mainly because macro conditions have certainly not improved, most notoriously with the latest CPI data at 9.1% year over year – much higher than expected. Nevertheless, according to some surveys, inflation expectations from the market are calming off. This is a major factor contributing to the … Read more

Brokerage giant Nomura starts offering Asian clients BTC derivatives

Japanese financial services company Nomura Holdings has rolled out Bitcoin (BTC) derivatives for Asian institutional clients. A report unveiled this news earlier today, noting that the leading brokerage firm decided to introduce this offering following high institutional demand. This development marks the latest move by a traditional financial institution into crypto. According to the report, … Read more

BTC, ETH plummet amid US stock futures decline as investors prepare for Q1 earnings

The market price of bitcoin (BTC) dropped below $39,000 on April 18 in a declining trend during the Easter holidays. Meanwhile, ether (ETH) price fell below $3,000 for the first time since mid-March. The combined crypto market has lost almost $400 billion since early April, with analysts warning a “disaster in the financial markets” could … Read more

Crypto exchange Nexo to launch brokerage for big investors

Europe-based digital asset exchange Nexo has launched a new product to complement its existing retail platform. Dubbed Nexo Prime, the new proprietary prime brokerage platform targets institutional investors, corporations, and high-net-worth individuals. According to Nexo, the Nexo Prime platform is designed to serve as a unified platform that provides investors with access to advanced tools … Read more

Bank of America: coming “recession shock” possible boon for crypto

The macroeconomic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, Bank of America strategists warned in a weekly research note, Reuters reports. Bank of America chief investment strategist Michael Hartnett wrote, in a note to clients, that “Inflation shock” … Read more