Category: Bitcoin News

BTC Miner Margins Hit Cycle Lows Amid Bottom Talks

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Bitcoin (BTC) rallied to $91,950 on Nov. 26 as data shows the market sitting at a key inflection point. Data from Capriole Investments placed Bitcoin’s production cost near $83,873, while the electrical cost, the baseline energy input for mining, sits far lower at $67,099. Key takeaways: Bitcoin is currently trading just above miner production cost as profitability compresses. Elevated hashrate and collapsing hash prices are pushing miners toward stress thresholds. The dynamic NVT ratio dropped under its low band, historically bullish, but often with one final shakeout. Bitcoin miner margins…

Nasdaq Proposes Increasing BlackRock’s iShares Bitcoin Trust Option Limits

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The Nasdaq International Securities Exchange has filed a proposal with the US Securities and Exchange Commission (SEC) to increase the position limits for options on BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund to 1 million.   Position limits exist to prevent any one investor from controlling too many option contracts on the same stock, thereby reducing the risk of manipulative schemes that could affect prices, according to the notice and copy of the filing from the SEC on Wednesday.    The Nasdaq has requested in its filing, which it sent on Nov.…

DWF Labs Launches $75 Million Fund Targeting Institutional Phase Of DeFi

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Crypto market maker and Web3 investment firm DWF Labs says it is investing up to $75 million in decentralized finance projects that could support institutional adoption.  The firm shared its announcement via X on Wednesday, saying the fund will support projects with “innovative value” propositions that can scale to support large-scale adoption.   “The initiative will target blockchain projects building dark-pool perpetual DEXs, decentralized money markets, and fixed-income or yield-bearing asset products, […] areas the firm believes are poised for major growth as crypto liquidity continues its structural migration onchain,” DWF Labs…

Bitcoin May Not Reach $250K By Year-End After All, Suggests Tom Lee

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BitMine chair Tom Lee has seemingly eased off his widely promoted $250,000 year-end Bitcoin forecast, now only giving it a “maybe” that Bitcoin can reclaim its October all-time high of $125,100 before the end of the year. “I think it’s still very likely that Bitcoin is going to be above $100,000 before year-end, and maybe even to a new high,” Lee said during an interview with CNBC on Wednesday. This appears to be the first time Lee has publicly softened his $250,000 year-end Bitcoin (BTC) price target, which he initially…

Spain Proposes Crypto Tax Hike and New Risk Rules, Sparking Backlash

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Spain’s Sumar parliamentary group has introduced amendments to reform three major tax laws affecting cryptocurrencies, including the General Tax Law, Income Tax Law and Inheritance and Gift Tax Law, according to local media. The proposal would change how crypto profits are taxed, shifting gains from non-financial-instrument assets into the general income tax bracket, which would raise the top rate to 47% instead of the current 30% savings rate, while setting a flat 30% tax for corporate holders, according to a Tuesday report from CriptoNoticias. Sumar is a left-wing political alliance…

Tokenized Money Market Funds Surpass $9B, BIS Warns of New Risks

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Tokenized money market funds are emerging as one of the most important yield-bearing assets on public blockchains, offering money-market returns and securities-level protections that stablecoins can’t provide, according to a new report from the Bank for International Settlements (BIS). According to the bulletin, tokenized money market funds now hold nearly $9 billion in assets, up from about $770 million at the end of 2023. The BIS warned that as these tokenized Treasury portfolios become a key source of collateral in the crypto ecosystem, they also bring new operational and liquidity…

‘Strong Negative Correlation’ with BTC and USDt Activity: Glassnode

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Blockchain analytics provider Glassnode reported a “strong negative correlation” between Bitcoin’s and USDt’s activity over the last two years. In a Wednesday X post, Glassnode shared a comparison between Bitcoin’s (BTC) price and net flows of USDt (USDT) to exchanges starting in December 2023. According to the analysis, net outflows of USDT from exchanges coincided with increases in the price of BTC. “During euphoric phases, USDT typically flows out at –$100M to –$200M/day as investors lock in profits,” said Glassnode. “At the $126K peak [in October], net outflows reached >$220M…

Bitcoin Rally To $112K Depends On Four Catalysts

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Key takeaways: Bitcoin derivatives and cautious interest rate expectations keep sentiment restrained, yet improving liquidity conditions bolster upside potential. Regulatory easing and MSCI’s review of BTC-heavy firms could lift risk appetite, supporting a more constructive medium-term outlook for Bitcoin. Bitcoin (BTC) has been pinned below $92,000 since Thursday and is down 22% in the last 30 days, but the situation could change soon. Bulls expect multiple governments to expand their money supply to support their economies and rising fiscal deficits, while bears often cite softer labor indicators and mounting concerns…

Edel Finance-Linked Wallets ‘Snipe’ 30% Token Supply, Bag $11M: Bubblemaps

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Concerns are mounting over unusual activity surrounding the token launch of Edel Finance, a lending protocol focused on tokenized stocks and real-world assets (RWAs). Blockchain analytics platform Bubblemaps claimed in a Tuesday X post that a cluster of about 160 wallets accumulated 30% of the EDEL token supply, worth $11 million, during the launch earlier this month. The platform alleged the wallets were linked and funded in a coordinated fashion immediately before trading opened. “Edel Finance sniped 30% of $EDEL. Then tried to hide it behind a maze of wallets…

Bitcoin, Altcoins Bounce, But Bearish Downtrend Prevails For Now

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Key points: Bitcoin has been facing selling near $89,000, but the bulls have not given up much ground, suggesting a rally to $93,500. Several major altcoins have started a recovery, but they are likely to face selling at higher levels. Bitcoin’s (BTC) recovery is losing steam as bears attempt to sustain the price below the $88,000 level. Veteran trader Peter Brandt said in a post on X that BTC’s current recovery was a dead cat bounce. In comparison, network economist Timothy Peterson was slightly more optimistic. Peterson said in a…