The Bitcoin Archive tweeted that Glassnode data shows that 65% of bitcoins have not moved in more than a year, an all-time high.
The CFTC’s weekly report on CME Bitcoin futures positions from May 18 to May 24 showed that the total open interest increased slightly from 11,644 contracts to 11,729 contracts. Institutional long positions were 7,693 contracts, and short positions were 9,150 contracts. The ratio of long and short positions was 1:1.2. Institutional long and short positions were balanced, with a slight bias towards bearishness.
Large investors have 2,171 long positions, 682 short positions, and the ratio of long and short positions is 3.2:1, and large players are significantly bullish; retail investors have 1,072 long positions and 1,104 short positions, and the ratio of long and short positions is 1:1. The power of retail investors is balanced, slightly Biased to bearish.
Heading into 2022, cryptocurrencies fell sharply in 2022 as investors abandoned riskier investments. But JPMorgan said it generally sees “upside” in bitcoin and crypto markets following the sell-off, making digital assets the preferred alternative investment.
Venture capitalist Tim Draper said in an interview that Bitcoin’s importance in the downside that cryptocurrencies and traditional markets are experiencing has to do with its inflation-hedging properties.
“I’m still bullish on bitcoin because it’s a good hedge against inflation, and it’s going to diverge from tech stocks as speculators leave,” he said. “I believe tech stocks will continue to fall as long as interest rates continue to rise.”
Draper sees Bitcoin as a hedge against inflation, a property that only appreciates in the long term. In addition, he said, Bitcoin offers a safe haven against poor governance and excessive regulation.
Alex Barrett of the NFL’s San Francisco 49ers is now paying 100% of his salary in Bitcoin. Barrett signed a deal with bitcoin payroll service provider Bitwage, which allows anyone to pay their wages in bitcoin.
Bitwage doesn’t require employers to get involved in their system to get paid in bitcoin, and it’s open to anyone. Barrett joins the ranks of professional athletes such as Matheus Nicolau, Achara Ifunanyachi and Alex Crognale who now accept bitcoin for their salaries.
Twitter founder Jack Dorsey tweeted that he doesn’t pay close attention to bitcoin’s price. Because he knows that Bitcoin will be worth more in the long run as adoption increases.
Tokyo-based Japanese used car export company SBI Motor Japan has announced that it accepts XRP and Bitcoin as payment options.
Payments will be settled through SBI VC Trade, the cryptocurrency trading subsidiary of financial giant SBI Group. SBI Motor Japan is focused on doing business in the African region.
The Block released market analysis data for April, which showed that bitcoin miner revenue fell 4.3% to $1.16 billion in April, while ethereum miner revenue rose 6.2% to $1.33 billion. Notably, this is the 12th consecutive month that Ethereum miner revenue has surpassed Bitcoin miner revenue.
According to the April crypto market analysis data released by The Block, BTC/ETH futures open interest and options open interest both fell, and Bitcoin futures open interest and Ethereum futures open interest both appeared in April this year.
On May 1, Musk commented on Buffett’s speech at the shareholder meeting, saying that he said Bitcoin so many times.
Technical analysis by Katie Stockton, founder and managing partner of Fairlead Strategies, shows that a bullish signal for Bitcoin has emerged, supporting a continuation of Bitcoin price gains towards the widely tracked 200-day simple moving average (SMA).
Arcane statistics show that Bitcoin’s 30-day correlation with Nasdaq tech stocks has climbed to its highest level (0.7) since July 2020.
Algorithmic stablecoin protocol Frax Finance is considering buying billions of dollars worth of major blockchain-native tokens (e.g. ETH, BTC) as reserve collateral for its stablecoins.
Sylvia Jablonski, CEO, chief investment officer and co-founder of the Defiance ETF, explained her bullishness on Bitcoin despite the recent price drop in an interview with C.
Bitcoin is in a rare five-day volatility squeeze for the third time in nearly five years, crypto analyst TechDev tweeted.
Brett Winton, director of research at Ark Invest, posted a tweet about old-school people not understanding Bitcoin miners. In response, Elon Musk posted a video about Dogecoin saying it “explains everything.”
According to data collected by The Block’s Data Dashboard, Bitcoin miners earned a total of $1.21 billion in March.
American cryptocurrency exchange Bitcoin of America has decided to add Dogecoin (DOGE) deposits and withdrawals to its cryptocurrency ATMs.
According to reports, Honduras may be the next country after El Salvador to officially recognize Bitcoin as legal tender. El…
“Bitcoin can play a key role in national security, and it is recommended that the U.S. buy bitcoin to mitigate the effects of other countries that may be trying to wean themselves off the dollar,” said MIT researcher and U.S. aerospace engineer Jason Lowery Force.