Category: Cryptocurrency News

We apologize for a tweet that led to the dissemination of inaccurate information regarding the Blackrock Bitcoin ETF. An internal investigation is currently underway. We are committed to transparency and will share the findings of the investigation with the public once it is concluded within 3 hours. submitted by /u/justcamefromcaves [link] [comments]

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Bitcoin price just made one of its most volatile moves in some time on the back of what has amounted to be fake news regarding the approval of the BlackRock iShares spot BTC ETF. Within seconds of a fake X post, BTCUSD surged by over 7% in ten minutes – only to retrace the entire rally and then some. Bitcoin Price Rejected As iShares ETF News Revealed To Be False No, BlackRock’s iShares spot Bitcoin ETF has not been approved. But that’s what was just making waves around social media, especially Elon Musk’s X platform. Within the ten minutes following the phony report from CoinTelegraph, BTCUSD soared by more than 7%  and almost $2,000. The top cryptocurrency by market cap, however, was stopped at $30,000 and rejected all the way back down to below $28,000 in the following fifteen minutes once the news was disproven. Related Reading: Bitcoin Bulls Could Buck Downtrend With Move To $42,000 Fox Business journalist Eleanor Terrett claims to have spoken to a representative for BlackRock directly, who confirmed that the iShares application is still under review with the United States SEC. CoinTelegraph has since deleted the tweet (pictured below). A massive 25 minute pump and dump | BTCUSD on TradingView.com The situation shows that the market has serious pent up energy that is ready to release the moment a spot ETF is approved. But it also could demonstrate to the SEC exactly why a spot ETF shouldn’t be approved when crypto prices are subject to such blatant manipulation through the media. Related Reading: Learn How To Use The Ichimoku Cloud While a spot ETF is inevitable at this point, today’s news has now repeatedly been confirmed to be false. Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com

Data shows the crypto futures market has observed large liquidations in the past day as Bitcoin has recorded a sharp surge towards $28,000. Crypto Futures Observed $78 Million In Liquidations In Last 24 Hours A crypto futures contract is said to be “liquidated” when the derivative exchange with which said contract is open forcefully closes it up. This happens when the contract has accumulated losses of a certain percentage, the exact value of which may differ between platforms. In this sector, it’s not too rare to see a flood of such liquidations occurring within a short span of time. The reason behind that is the high volatility that most of the assets display on average. A lot of investors also like to play with extreme amounts of leverage, due to it being readily accessible in many platforms. Leverage alone can raise the risk of liquidation manyfold, so it combined with the high volatility can make it easy for contracts to be flushed down. Related Reading: Bloomberg Analyst Predicts Likelihood Of A Spot Bitcoin ETF By January 2024 During the past day, the crypto market has once again seen some notable volatility, which has led to another mass liquidation event on the futures side, as the data below from CoinGlass shows. Looks like the market has seen some high liquidations in the past day | Source: CoinGlass As is visible from the table, the crypto market as a whole has seen liquidations of more than $78 million in the last 24 hours. Out of these, $61.88 million involved the short contracts, equivalent to almost 80% of the total. This naturally makes sense, as this latest liquidation squeeze has been led by a rally in Bitcoin’s price. The value of the asset has shot up today | Source: BTCUSD on TradingView As displayed above, Bitcoin has enjoyed a sharp surge in the past day. At the peak of this rally, the coin had retested the $28,000 level but has since seen a bit of pullback. The rest of the sector also followed the original crypto in this rally (as is usually the case), which is why shorts around the sector have taken a beating today. The below table shows what the individual contribution towards this liquidation squeeze has looked like for the different symbols in the sector. The breakdown of the liquidations by asset | Source: CoinGlass As expected, Bitcoin occupies the largest share of liquidations with $31.5 million, while Ethereum is second at $13.06 million. Interestingly, Loom Network (LOOM) is third in this list, despite the asset being just the 71st largest in the sector by market cap. Related Reading: Have Traders Moved Past Dogecoin? Transactions Plunge 98% Since June The altcoin has enjoyed a sharp rally of more than 113% in the past week, which is perhaps why the crypto has had such strong interest behind it on the futures market. Bitcoin Open Interest Has Rebounded Since The Squeeze As CryptoQuant analyst Maartunn has pointed out, the Bitcoin open interest, a measure of the total amount of contracts associated with the asset currently open on the futures market, has jumped back since the liquidation flush occurred. The metric has climbed back up from its lows | Source: @JA_Maartun on X It would appear that more speculators have jumped on the market even after seeing a large amount of traders getting liquidated. Generally, the open interest being high can lead to volatility, so the indicator retracing back to its levels from before the plunge could mean BTC would soon see more sharp price action in the near future. Featured image from Shutterstock.com, charts from TradingView.com

I am a bit of a noob in this space. I want to send a token from one wallet to another, how do I calculate gas limits, gwei etc for my transaction? Is this a variable value depending on much I send or is transferring tokens a "fixed gas price" transaction? submitted by …
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​ I have a large eth holding position and looking to diversify as the network has become inflationary and staking line has cooled off. Decided to look into wbtc as it exists on eth and is easily accessible through uniswap/Metamask. What are the potential downsides of purchasing/holding wbtc? Have also heard that wbtc and weth…
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