Category: Cryptocurrency News

The market continues to be in disarray as the price of bitcoin has now fallen to the low $30,000s. This had been preceded by declining faith in the market thus translating to fewer inflows/more outflows in the last couple of weeks. However, with the price now at the lowest, it has been this year, institutional sentiment towards the digital asset has changed and this has resulted in significant inflows into the digital asset for the first time in weeks. $45 Million Flows Into Bitcoin Bitcoin has now seen inflows following several weeks of outflows. The past week has proven to be good for the pioneer cryptocurrency which saw inflows as high as $45 million. It is a complete turnaround from the institutional investor side which has been pulling money out of the digital asset to presumably put towards their altcoin portfolios. Related Reading | Bitcoin Exchange Inflows Hit Three-Month High As Market Braces For More Downside Naturally, these institutional investors had been pulling out when indicators had been pointing towards a bear market, and have now returned to take their share of the pie with bitcoin trading at low prices. It marks the return of positive sentiment among these investors. Short Bitcoin also followed this same trend and has ridden the wave into its second-largest weekly inflows on record. The past week saw $4 million total flow into Short Bitcoin which has now brought its total asset under management (AuM) to a new high of $45 million. BTC struggles to find support above $31,000 | Source: BTCUSD on TradingView.com Other digital asset investment products were not left out of the inflow galore. This time around, there was a total of $40 million flowing into digital asset investment products in a surprising turnaround.  Altcoins were not left out of this though even though outflows were more dominant for last week. However, Solana would break away from the mold in this regard to be the only altcoin that recorded any significant inflows with $1.9 million flowing into the Digital asset.  As for other altcoins, the outflows continue as negative sentiment continues to rock the cryptocurrency. It saw $12.5 million leave the digital asset in the one-week period. So far, 0.8% of the total Ethereum AuM has left the digital asset as its year-to-date outflows have now reached $207 million. Related Reading | Bitcoin Price Crashes Below $30K As Markets Show Signs Of Paranoia The inflows and outflows remained inconsistent across various market regions. The CoinShares reports show that investment products in the North American markets had recorded $66 million. Across the pond in Europe, outflows dominated with a total of $26 million leaving digital asset investment products in the region. Nonetheless, the new trend of inflows coming into assets like Bitcoin and Solana prove that institutional investments had come out of the woodwork to take advantage of the price weakness that had been displayed in the market. This price weakness continues with bitcoin still struggling to establish a support level above the $31,000 price range.  Featured image from Investopedia, chart from TradingView.com

Today during $COIN earnings, Coinbase talked about what would happen should they file bankruptcy, and what it would mean for your Ethereum. I am posting this to remind you all THAT YOU SHOULD NOT KEEP YOUR ETHEREUM ON EXCHANGES. "Moreover, because custodially held crypto assets may be considered to be the property of a bankruptcy…
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First off I wanna send my condolences to anybody that was affected by this. Last night we all witnessed one of the craziest moments in crypto and will defiantly have a major impact on the markets and crypto moving forward. From the ways that stable coins will be looked at by The FEDS and may…
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The Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The addition of the unstructured supplementary service data (USSD) functionality to the wallet app means people without bank accounts will be able […]

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I just read this paper on how Chinese gov is centralizing the decentralized, which was not of big surprise. However, I am using Chinese mobile network when I do minting or transactions on my wallet (I use loopring and MetaMask) On the technology side, would my data on these wallets be stored by China’s network?…
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Among the proposals, the group of eight organizations requested the Environmental Protection Agency subject PoW mining firms to “stringent reviews” around operating permits.

Bitcoin is in free fall, just as Mercury goes retrograde for the second time in 2022. The astrological event is blamed for all kinds of miscommunications and technology-related issues. It also appears to have a correlation with major mood shifts and pivot points in Bitcoin price. With today starting another phase of Mercury in retrograde, let’s take a look at how the planet-related phenomenon might impact price action across crypto. What Is Mercury In Retrograde? Examining The Astrological Event Mercury’s period of retrograde motion begins today, and lasts through June 2, 2022. According to The Old Farmer’s Almanac, “Mercury Retrograde” is an event that happens three times per year where the planet appears to have “abruptly switched directions and has started to move in reverse across the sky.” Interestingly, its appearance has been closely correlated with moments when Bitcoin price action has “abruptly switched directions.” Related Reading | Bitcoin Perfectly Follows Market Cycle Comparison, What Comes Next For Crypto? The planet, like the Roman messenger god it is named after, supposedly rules communications, which includes technology, transactions, and even contracts such as options, futures, etc. If you notice sudden computer problems over the next three weeks or issues stemming from a mistyped text message, it is Mercury to blame. But back to Bitcoin. The top cryptocurrency has shown major mood shifts and pivots precisely when the retrograde period rolls around. Take a look. What will Mercury in retrograde bring? | Source: BTCUSD on TradingView.com Why Bitcoin Might See A Mood Change And How Math May Involved Notable moments in Bitcoin price action that coincided with Mercury-driven mayhem include the 2017 bull market peak, the plunge toward the bear market bottom, the breakout just before the bull run in 2020, and even the most recent lows in January 2022 that were only just now taken out a day ahead of going retrograde. Since not all shifts in investor sentiment are negative when this period rolls around, there is no telling what comes next – only that the period can produce dramatic results. Bears are hoping to push prices down to further lows, while bulls are hoping for targets closer to where Mercury resides in outer space. Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet In terms of why Mercury might have an impact on those of us on Earth, well, it could come down to math. The solar system has interesting and unusual relationships with the Fibonacci sequence – a tool often used in predicting price action in markets. For example, a year on Earth is 365 days, or nearly a full 360 degrees of a circle. A year on Venus is 225 days, which is roughly the 0.618 Fibonacci ratio of Earth’s cycle. A Mercury year is 87.97 days, and is roughly the 0.236 Fibonacci ratio of the Earth’s cycle. Could this close relationship with Fibonacci be the reason for Mercury’s extra-powerful impact on us here on Earth? Mercury goes retrograde as Bitcoin retests the golden ratio. Coincidence? | Source: BTCUSD on TradingView.com Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com