Goldman Sachs Reentering Crypto Could Signal a Local Top for Bitcoin

In brief: Goldman Sachs will restart its Bitcoin and crypto desk next week The investment bank’s crypto desk was first launched in December 2017 around the same time Bitcoin topped at $20k Re-entry into the crypto space by the bank could signal a possible top for Bitcoin However, ‘this time around it will be different’ as institutions such as Microstrategy continue scooping up Bitcoin Yesterday, the investment bank of Goldman Sachs announced that it was restarting its crypto and Bitcoin trading desk next amidst increased demand for the investment products…

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Bitcoin’s SOPR Indicator Hints at a Possible Bottom for BTC

In brief: Bitcoin’s SOPR indicator has seen a full reset, turning negative for the first time in 5 months The indicator points to a possible local bottom for Bitcoin The last time it fell this low, Bitcoin went from $33,400 to $57,400 The crypto fear and greed index has fallen to levels last seen in late January when Bitcoin fell to $30k then went on to post a new all-time high above $58k Bitcoin’s weekly/monthly close is the final bearish hurdle for BTC Bitcoin’s SOPR indicator has experienced a full…

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25,600 Bitcoin (BTC) Worth $1.2B Has Left Coinbase in the Past Week

In brief: 25,600 Bitcoin has left Coinbase in the last week 13k Bitcoin left Coinbase on the 25th of February This shows that institutions are scooping up the Bitcoin dip with Coinbase facilitating a majority of the orders Bitcoin bullishness might be reignited thanks to the passing of a $1.9 Trillion stimulus bill by the US Congress In the past week, 25,600 Bitcoin (worth roughly $1.2 Billion) has left the crypto exchange of Coinbase. This is according to an obervation made by the team at Bloqport as seen in the…

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Grayscale Bitcoin Trust (GBTC) Is Trading at a 3.77% Discount

In brief: Grayscale Bitcoin Trust (GBTC) closed yesterday at a 3.77% discount A discounted GBTC could point towards bearish Bitcoin sentiment amongst institutional investors Bitcoin dipped to the $44k support zone and could be headed lower with the weekly/monthly close The Grayscale Bitcoin Trust (GBTC) closed trading yesterday, February 25th, at a 3.77% discount. The team at Glassnode highlighted this event and shared it via the following tweet which includes an accompanying chart demonstrating the discounted value of GBTC. $GBTC closed at a -3.77% discount yesterday. #Bitcoin Chart: https://t.co/Qc0vs7I9e3 pic.twitter.com/PsQEBqHH2L…

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Bitcoin Battles for $50k after $10k Dip and $4.4B in Liquidations

In brief: Bitcoin fell from $58,369 to a local low of $47,619 Bitcoin then rebounded to $55k before once again dipping to the $47,600 level The volatility caused $4.4 Billion in liquidations The crucial $50k support hangs in the balance as February comes to a close There could be additional selling pressure with Bitcoin futures and options contracts expiring on Friday as well as the monthly close The Bitcoin and crypto markets have experienced a rollercoaster ride in the last 48 hours. Early yesterday, Bitcoin posted an all-time high value…

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Bitcoin Futures Trade Volume Hit an ATH of $294B as BTC Dipped to $45k

In summary: Bitcoin futures trade volume hit a new all-time high of $294.19 Billion as BTC fell below $45k The majority of the trade volume was witnessed on Binance followed by Huobi and OKEx Bitcoin is once again above $50k BTC still has two more hurdles this month in the form of the expiry of Bitcoin futures and options this Friday, and the monthly/weekly close on Sunday The month of February continues to be a month of firsts for Bitcoin. To begin with, Bitcoin posted a new all-time high of…

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Bitfinex and Tether (USDT) Settle With NY Attorney General for $18.5M

In brief: The NY Attorney General’s office has settled with Bitfinex and Tether Bitfinex and Tether will cease all operations in New York They will also pay an $18.5 million fine alongside other requirements to increase transparency The New York Attorney General’s office has reached an $18.5 million settlement with Bitfinex and Tether for alleged illegal activities in the state of NY. According to the official announcement, New York’s Attorney General, Letitia James, also ordered Bitfinex and Tether to cease all operations in the state as a means of protecting…

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OKCoin Will Delist BCH and BSV to Support the Bitcoin Ecosystem

Quick take: OKCoin will delist Bitcoin Cash (BCH) and Bitcoin SV (BSV) on March 1st, 2021 The move is aimed at supporting the Bitcoin ecosystem and protecting new investors OKCoin CEO further explained that misinformation war by Craig Wright is another reason behind delisting BSV The crypto exchange of OKCoin will delist Bitcoin Cash (BCH) and Bitcoin SV (BSV) effective March 1st, 2021. The CEO of OKCoin, Hong Fang, made the announcement earlier today explaining that the decision to delist both digital assets was a tough one, but one that…

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Bitcoin (BTC) at $250k by End of 2022 is Likely – Tim Draper

In brief: Tim Draper has rekindled his $250k price prediction for Bitcoin He expects Bitcoin to hit this value by the end of 2022 He cites that unlike three years ago, Bitcoin looks more likely to hit his target Bitcoin is currently defending the $50k support zone as traders digest the news of Blackrock ‘dabbling’ into BTC Popular Venture Capitalist and Bitcoin bull, Tim Draper, has once again rekindled his $250k Bitcoin price prediction with a new timeline. Mr. Draper shared his analysis of Bitcoin via Twitter where he also…

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Bitcoin’s Dominance Exceeding 63% Could Put a Dent on Alt-Season

Quick take: Bitcoin’s dominance has fallen consistently since the beginning of 2021 BTC’s dominance fell from 73% to 59% allowing alt-coins to thrive Bitcoin’s dominance is now battling to regain the crucial 63% that could see BTC back in full control of the crypto markets Bitcoin is at the cusp of confidently breaking $50k and pushing harder to $60k The King of Crypto, als0 known as Bitcoin, has broken the $50k price ceiling with gusto and looks set to once again print new all-time highs on its path to $60k.…

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