crtypto & forex news

The Bitcoin price has been on a steady recovery journey over the past few weeks, with several attempts at a sustained break above the $74,000 level. However, the premier cryptocurrency seems to still be getting drowned in the noise of the ongoing geopolitical tension between the United States, Israel, and Iran. This conflict in the Middle East has been the predominant topic in global financial markets, such that commentary on the United States midterm elections has had to take a back seat in recent weeks. Here’s a look at how the US midterm elections could impact the Bitcoin price performance in the coming months. BTC Action Historically Weak During Midterm Election Years In a new Quicktake post on the CryptoQuant platform, XWIN Research dived into the outlook for BTC, the world’s largest cryptocurrency by market cap, in the current US political climate. Analyzing its historical performance in midterm election years, the firm found that the market leader typically experiences weak...

At its peak, SpaceX sat on roughly 28,000 Bitcoin — a position then valued at around $1.8 billion. Today, that number stands at 8,285 BTC, worth approximately $574 million. The company shed nearly 70% of its original holdings over a two-year stretch that coincided with one of crypto’s worst downturns. A Treasury Quietly Cut Down In August 2023, a Wall Street Journal report based on reviewed financial documents revealed that SpaceX wrote down $373 million in Bitcoin value across 2021 and 2022 and had sold its cryptocurrency holdings, though the extent of the sale was not disclosed. The disclosure sent Bitcoin briefly below $25,000 and triggered over $386 million in futures liquidations. SpaceX , as a private company, was never required to explain the sell-off publicly. The timing, reports noted, tracked closely with the collapse of major crypto firms including Terraform Labs and FTX. BITCOIN COMPANY LAUNCHING SATELLITES SpaceX just launched 29 Starlink satellites – and holds 8,28...

The price of Bitcoin has continued to approach the $75,000 mark in recent weeks, with the premier cryptocurrency showing some form of resurgence in the past few days. An analyst has laid out the “real reason” behind BTC’s latest attempt to break the $74,000 mark.  $55M Of BTC Flow Out Of Binance Daily In a new Quicktake post on the CryptoQuant platform, crypto pundit Burak Kesmeci put forward the “real reason” why the Bitcoin price jumped from around $65,000 to its latest high above $74,000. The market analyst revealed that the movement of significant Bitcoin amounts out of Binance, the world’s largest cryptocurrency exchange by trading volume, has played a major role in the recent bullish momentum. Highlighting CryptoQuant’s data, Kesmeci shared that the 30-day simple moving average (SMA30) of the Bitcoin Exchange Outflow metric (for Binance) has been on a steady decline in the past few weeks. This indicator’s contraction suggests the outflow of significant Bitcoin amounts fr...

Ripple has released a crypto survey that sought the opinions of over 1,000 financial world leaders on their crypto market outlook . Notably, most of these leaders suggested that institutions must look to embrace crypto or risk losing their competitiveness in the market.  Ripple Study Shows Finance Leaders View Crypto as Now Important Ripple noted that in its survey report , that 72% of respondents believe that companies must offer a crypto solution to remain competitive. Furthermore, these finance leaders revealed similar industry consensus on stablecoins, tokenization , and partner considerations. The crypto firm stated that stablecoins are among the use cases financial leaders are most bullish on.  74% of these financial leaders said that stablecoins can boost cash-flow efficiency and unlock trapped working capital. Additionally, these respondents view stablecoins as tools for treasury management . Meanwhile, the Ripple survey revealed that fintechs have demonstrated cryp...

Morgan Stanley’s head of digital assets strategy, Amy Oldenburg, has said that Bitcoin ETF adoption is still in its early stages. This comes as the Wall Street giant also looks to offer a BTC ETF, two years after the first funds launched.  Morgan Stanley Exec Says Bitcoin ETF Adoption Still In Early Stages Speaking at the DC Blockchain Summit , the Morgan Stanley executive noted that most of the demand for the Bitcoin ETFs comes from self-directed investors, with many advisor-managed accounts yet to allocate to crypto. In line with this, Oldenburg declared that institutional crypto adoption is still ‘very early.’ She also revealed that 80% of the demand for ETFs on their platform comes from the self-directed business. Morgan Stanley currently allows all its wealth clients to invest in Bitcoin ETFs after removing restrictions last year. The bank has also notably recommended allocating up to 4% to crypto.  Oldenburg’s comments that Bitcoin ETF adoption is still early expl...

Scammers have already hit more than 700 crypto wallets — some holding over a million dollars in stablecoins — with a phishing scheme disguised as a federal law enforcement action. A Scam Built On Fear The operation targets users of the Tron blockchain . Criminals mint a token with the FBI’s name attached, then airdrop it into wallets with a message warning recipients that their accounts are flagged for investigation. From there, victims are told to complete an anti-money laundering check on an outside website or face a full freeze of their funds. The FBI’s New York Field Office confirmed the scam Thursday and warned users not to click, visit, or share any personal data connected to the token. “Do not provide any identifying information to any website associated with such a token,” the office posted on X. No email. No phone call. The threat arrives directly inside the wallet — a newer tactic that gives the fraud an air of legitimacy it doesn’t deserve. FBI New York encourages use...

CNBC reported on Friday that a tentative agreement between banking and cryptocurrency industry representatives could be announced later today, potentially clearing a path for the long-stalled crypto market-structure legislation known as the CLARITY Act.  Lawmakers Near Agreement On Crypto Bill The network’s coverage, citing industry insiders and Capitol Hill chatter, said lawmakers in the Senate Banking Committee may have reached a compromise and are now positioned to schedule a markup and vote; the Agriculture Committee already completed a procedural vote in January. According to the CNBC piece, discussions in recent days have intensified as stakeholders seek common ground on a range of contentious issues.  One persistent sticking point is whether banks will accept proposed stablecoin reward structures. That question remains unresolved, the report said, even as other elements of the package appear to be coalescing. However, a separate update surfaced Thursday evening fr...