Author: dfmines

Key Takeaways: HB 2342 has passed the Arizona Senate, protecting home-based Bitcoin miners and node operators. The measure preempts local zoning laws related to digital asset activities. Protections over “computational power” also apply to AI, cloud computing, and scientific research, for instance. Arizona Senate Passes Bill Protecting Bitcoin Mining, Node Operations By taking this step,…
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The digital asset sphere has navigated a whirlwind of volatility this past week, yet Friday’s 3.9% rebound injected a dose of optimism, propelling aggregate valuations to $2.61 trillion. While bitcoin and ethereum languished in negative territory this week, onyxcoin (XCN) and fartcoin (FARTCOIN) emerged as outliers, defying gravitational forces with staggering weekly leaps of 197.4% […]

Key Takeaways: Ripple is funding the National Cryptocurrency Association (NCA) for crypto literacy and responsible crypto adoption in the United States. The NCA will function independently and will offer unbiased information, tutorials, and case studies from regular day-to-day crypto users. Ripple has been pursuing this initiative while facing a legal battle with the SEC and…
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Neel Kashkari, President of the Minneapolis Federal Reserve, addressed the issue of rising Treasury yields on April 11, suggesting that they might indicate a shift in investor sentiment away from United States government debt. Kashkari highlighted that the Federal Reserve has tools to provide more liquidity if necessary.While underscoring the importance of maintaining a strong commitment to reducing inflation, Kashkari’s remarks signal a possible turning point for Bitcoin (BTC) investors amid growing economic uncertainty. US Treasury 10-year yields. Source: TradingView / CointelegraphThe current 10-year US government bond yield of 4.5% is not unusual. Even if it approaches 5%, a level last seen in October 2023, this does not necessarily mean investors have lost confidence in the Treasury’s ability to meet its debt obligations. For example, gold prices only surpassed $2,000 in late November 2023, after yields had already decreased to 4.5%.Will the Fed inject liquidity, and is this positive for Bitcoin?Rising Treasury yields often signal concerns about inflation or economic uncertainty. This is crucial for Bitcoin traders because higher yields tend to make fixed-income investments more appealing. However, if these rising yields are perceived as a sign of deeper systemic issues—such as waning confidence in government fiscal policies—investors may turn to alternative hedges like Bitcoin.Bitcoin/USD (left) vs. M2 global money supply. Source: BitcoinCounterFlowBitcoin’s trajectory will largely depend on how the Federal Reserve responds. Liquidity injection strategies typically boost Bitcoin prices while allowing higher yields could increase borrowing costs for businesses and consumers, potentially slowing economic growth and negatively impacting Bitcoin’s price in the short term.One strategy the Federal Reserve could use is purchasing long-term Treasurys to reduce yields. To offset the liquidity added through bond purchases, the Fed might simultaneously conduct reverse repos—borrowing cash from banks overnight in exchange for securities. A weak US dollar and banking risks could pump Bitcoin priceWhile this approach could temporarily stabilize yields, aggressive bond purchases might signal desperation to control rates. Such a signal could raise concerns about the Fed’s ability to manage inflation effectively. These concerns often weaken confidence in the dollar’s purchasing power and may push investors toward Bitcoin as a hedge.Another potential strategy involves providing low-interest loans through the discount window to give banks immediate liquidity, reducing their need to sell long-term bonds. To counterbalance this liquidity injection, the Fed could impose stricter collateral requirements, such as valuing pledged bonds at 90% of their market price.Systemic risk in the US financial services industry. Source: Cleveland FedThis alternative approach limits banks’ access to cash while ensuring borrowed funds remain tied to collateralized loans. However, if collateral requirements are too restrictive, banks might struggle to obtain sufficient liquidity even with access to discount window loans. Related: Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x ResearchAlthough it is too early to predict which path the Fed will take, given the recent weakness in the US dollar alongside a 4.5% Treasury yield, investors might not place full trust in the Fed’s actions. Instead, they may turn to safe-haven assets such as gold or Bitcoin for protection.Ultimately, rather than focusing solely on the US Dollar Index (DXY) or the US 10-year Treasury yield, traders should pay closer attention to systemic risks in financial markets and the spreads on corporate bonds. As these indicators rise, confidence in the traditional financial systems weakens, potentially setting the stage for Bitcoin to reclaim the psychological $100,000 price level.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Key Takeaways: Amendments proposed for Solana aim to bolster the network’s long-term viability. New protocols will redistribute priority fees toward stakers and amend SOL’s inflation rate. The changes could potentially affect validator revenues significantly and raise concerns over smaller operators. The high-speed Solana blockchain network is undergoing potentially transformative updates. The community is all abuzz…
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The cryptocurrency soared above $84K on Friday as the U.S. dollar fell to a three-year low in the face of weakening confidence in USD-denominated assets. Flight from Fiat? Bitcoin Jumps While Dollar Nosedives Despite President Donald Trump touting the success of his aggressive tariff strategy, what appears to be a loss of confidence in American […]

A key Bitcoin (BTC) metric signaled a potential shift in its positioning after BTC’s long-term holder realized cap (LTH Realized Cap) surpassed $18 billion for the first time since September 2024. Data from CryptoQuant indicated that this cohort has exhibited aggressive accumulation, which previously marked the BTC bottom in Q3 2024. The LTH realized cap measures the BTC cost basis of investors, holding their allocation for 155 days or more. A sharp increase hints that these long-term holders are in an accumulation phase, parallel with bullish behavior. Bitcoin LTH net position realized cap. Source: CryptoQuantAs illustrated in the chart, a spike in this metric has preceded bullish rallies in the past. Most recently, the LTH realized cap reached $18 billion on Sept. 8, 2024, after which Bitcoin registered 100% returns over the next few months. Another key confluence that matches the current bottom setup with September 2024 is the significant drop in open interest. BTC’s OI reached an all-time high of $39 billion in July but dropped by 25% by September. Similarly, Bitcoin’s open interest dropped 28% between Dec. 18 and April 8, Bitcoin open interest. Source: CoinGlassThe concurrent rise in LTH Realized Cap and a leverage wipeout strongly support the likelihood of a Bitcoin price bottom. However, Bitcoin’s open interest has surged by nearly 10% in the past 24 hours, suggesting that the price action following this spike could offer better directional bias in the coming days. Related: Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x ResearchBitcoin builds support at $79KAfter forming a new yearly low at $74,500 on April 7- April 9, BTC prices have rallied by almost 10% over the past three days. With respect to price levels below the $80,00 level, Glassnode data revealed that BTC had established credible support at the $79,000. In an X post, the data analytics platform mentioned, “Looking at Cost Basis Distribution, Bitcoin has built notable support at $79K, with ~40K BTC accumulated there. It has also worked through the $82.08K cluster (~51K BTC).”Bitcoin heatmap based on cost basis distribution. Source: X.comAs illustrated in the April 6- April 11 heatmap, supply distribution highlights investor accumulation patterns. This follows Bitcoin’s rally past $81,000, spurred by a 2.4% US CPI rate and President Trump’s 90-day tariff pause, with market sentiment leaning toward cautious optimism for a relief rally. Likewise, anonymous technical analyst Cold Blooded Shiller noted a descending trendline for Bitcoin, with BTC price testing a potential bullish breakout. The analyst said, “Got to admit, that’s looking very enticing for BTC.”Bitcoin 1-day chart analysis by Cold Blooded Shiller. Source: X.comRelated: Bollinger Bands creator says Bitcoin forming ‘classic’ floor near $80KThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Key Takeaways: Animoca Brands’ bookings increased by 12% in 2024, reaching $314 million. The company took a calculated approach to diversification, spearheaded by Digital Asset Advisory. Operating expenses decreased by 12%, driven by AI and optimization efforts. Animoca Brands, a leading player in blockchain games and Web3 investments, has published its unaudited financial results for…
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