Cryptocurrency

Using their Cross Asset Positioning Monitor, JPMorgan highlights potential vulnerabilities as markets adjust to shifting liquidity and demand dynamics.Bitcoin and the U.S. dollar are flagged for positioning risks.The bank said it sees “elevated equity positions, modestly long duration positions, close to neutral credit positions, elevated long dollar positions, underweight positioning in commodities ex gold, elevated positions in bitcoin but more modest longs in gold.””Thus from a positioning point of view the most vulnerable asset classes into 2025 are equities, the dollar and bitcoin and the least vulnerable are non-gold commodities,” said the bank.On bonds, the global supply-demand balance is expected to deteriorate in 2025.The bank projects a $0.9 trillion decline in global bond demand compared to 2024, alongside a relatively modest $100 billion reduction in net supply.They explain that this imbalance could result in upward pressure on yields, with the Global Aggregate Bond Index yield potentially rising by 40 basis points.Central banks will play a crucial role in these dynamics. JPMorgan notes that while the Federal Reserve is expected to end balance sheet contraction in early 2024, it will continue shifting from mortgage-backed securities (MBS) to Treasury bills.They add that the European Central Bank (ECB) is set to fully stop reinvestments in its PEPP portfolio, and the Bank of Japan (BoJ) is likely to accelerate net bond sales in 2025.JPMorgan notes that together, these actions contribute to modest improvements in central bank bond demand, but not enough to offset the broader decline in global demand. More

The world’s largest crypto was hit with some profit-taking in the past week after failing to reach the coveted $100,000 level. But losses in Bitcoin were also limited by optimism over Trump’s picks for key regulatory roles, which portend less scrutiny against the industry. Bitcoin rose 0.9% to $96,338.6 by 00:55 ET (05:55 GMT), remaining close to a record high of over $99,000 hit earlier in November. The crypto was also sitting on strong gains through November, having rallied nearly 40% since Trump’s victory. Bitcoin was set for its best month since February following Trump’s victory. The President-elect had vowed to make America the crypto capital of the world, and had also floated the prospect of a Bitcoin strategic reserve. Expectations of friendly regulation were furthered by Trump’s picks for Treasury Secretary and Secretary of Commerce, given that both Scott Bessent and Howard Lutnick have voiced support for digital markets. Trump was seen considering Paul Atkins to lead the Securities and Exchange Commission. Atkins is a former SEC Commissioner who has openly presented a pro-crypto stance. He will also potentially replace current Chair Gary Gensler, who said he will resign in January as Trump takes office. Gensler’s resignation also provided support to crypto markets, given that he led a sweeping crackdown against the industry over the past two years. Additionally, reports said Trump could potentially shift regulatory oversight of crypto to the Commodity Futures Trading Commission from the SEC. The CFTC- which handles commodity trading and derivatives, is expected to hold a less strict watch over crypto than the SEC. Broader crypto prices were mostly positive on Friday, and were set for stellar gains in November on Trump’s election win.World no.2 token Ether fell 0.7% to $3,569.0, but was sitting on a nearly 42% gain this month. XRP was by far the best-performing major altcoin in November, up more than 200% on the prospect of leadership change at the SEC. The agency has a long-running lawsuit against XRP issuer Ripple. Cardano was also trading up over 200% in November, while Solana and Polygon were up 40% and 77%, respectively. Among meme tokens, Dogecoin was trading up 150% for November. More

This heartfelt acknowledgment is a monument to Bitcoin’s pseudonymous creator, Satoshi Nakamoto, and comes at a time when the cryptocurrency is gaining widespread acceptance, with its price approaching $100,000. Bitcoin reached a record high of $99,849 last Friday.Satoshi Nakamoto, the pseudonymous creator of Bitcoin, introduced the world to a decentralized digital currency that operates without the need for intermediaries. Since the release of the Bitcoin whitepaper in October 2008, Satoshi’s vision has inspired countless innovations in blockchain technology and decentralized finance.Saylor’s message resonated with Bitcoin enthusiasts, with some in the crypto community echoing the same sentiment and penning words of appreciation for Satoshi.This week, MicroStrategy announced a record purchase of $5.4 billion in Bitcoin, the crypto hedge fund proxy’s third major acquisition this month. According to a U.S. Securities and Exchange Commission filing, the firm purchased 55,500 coins between Nov. 18 and Nov. 24, valued at about $97,862 per Bitcoin.As of Nov. 24, 2024, MicroStrategy owned 386,700 BTC for about $21.9 billion, or nearly $56,761 per Bitcoin, making it the largest publicly traded corporate holder of the digital asset.Bitcoin climbed again beyond $97,000 as the Thanksgiving holiday approached before falling slightly; at the time of writing, BTC was up 1.23% in the last 24 hours to $95,687.This article was originally published on U.Today More

This article was originally published on U.Today More

The halving mechanism, built into Bitcoin’s code by its pseudonymous founder Satoshi Nakamoto, is scheduled to occur every four years, or every 210,000 blocks. This process continues until the maximum supply of 21 million Bitcoins is reached.The first halving was an important milestone for the Bitcoin network. At the time, Bitcoin was still in its early stages, with a small network of enthusiasts and miners. Bitcoin’s price on the day of its first halving was roughly $12.20. Despite initial fears about its impact on miners’ revenue, the halving event eventually fueled Bitcoin’s price rise. In the months following the first halving, Bitcoin’s price rallied, hitting above $1,000 by the end of 2013.Bitcoin’s most recent halving occurred on April 19, 2024, resulting in a block reward of 3.125 BTC. The next halving is expected to take place in April 2028, reducing the block reward to 1.5625 Bitcoin. The final halving is projected to happen in 2140, when the maximum supply of 21 million Bitcoin is expected to be reached.The digital asset gained the most in more than two weeks on Wednesday, reaching $97,386, before falling to $95,612 at press time, after touching intraday highs of $96,676 in early Thursday trading.Bitcoin came within $300 of the historic $100,000 threshold on Nov. 22 before losing approximately $9,000 in the days that followed. The token peaked at $99,728 on Friday before declining over the next four days. Bitcoin plunged as low as $90,682 on Tuesday before rebounding. Part of Bitcoin’s early dip this week was caused by profit-taking as the price approached a historic milestone, as well as by macroeconomic concerns.This article was originally published on U.Today More

Bybit, the world’s second-largest crypto exchange by trading volume, is celebrating six transformative years with its most exciting event yet: #Super6Bybit. This milestone anniversary highlights Bybit’s focus on innovation, featuring the continued success of its bbSOL token and an interactive campaign offering users a chance to win a share of the $1,200,000 prize pool.Since its launch in September 2024, bbSOL has set to redefine liquid staking as the first exchange-backed Liquid Staking Token (LST) on Solana. A product of Bybit’s collaboration with Solana, bbSOL provides users with the potential to earn consistent staking rewards while retaining asset liquidity. In just two months, bbSOL surpassed $100 million in total locked value, reflecting its popularity among seeking both flexibility and growth in their digital assets.The #Super6Bybit campaign adds an interactive twist to this success, inviting participants to “build, transform, and supercharge” their very own bbSOL. Running from November 28, 2024, to January 6, 2025, the campaign combines gaming mechanics, community engagement, and lucrative rewards:#Bybit / #bbSOL / #BybitWeb3About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume with 50 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit PressFor media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

While responding to a comment under his tweet, Markus, who is also known on social media as Shibetoshi Nakamoto, shared whether he expects BTC to finally reach $100,000 after all.Billy Markus is well known for his ironic and playful manner of posting on social media. His sarcasm increases rapidly when he starts commenting on events related to cryptocurrency trading and price action.He has stated multiple times in his tweets that he does not believe that analysts really know why Bitcoin goes up or what pushes it down. This time, when a commentator asked Markus if he expects the world’s flagship cryptocurrency to break above $100,000, the Dogecoin co-creator published an animated GIF that stated: “This sh***t again.”Between Monday and Tuesday this week, the largest crypto plunged from the $98,670 zone, hitting a low of $90,900. By Wednesday, Bitcoin recovered, adding 7.12% as it managed to reach $97,353. Since then, the digital gold has shed 2.37% and is currently changing hands at $95,058. Multiple traders are now locking in profits, preventing Bitcoin from reaching $100,000. Recently the founder of Capriole Investments fund referred to this level as the biggest sell wall that has ever existed.He believes that government spending should be controlled: “It’s a quite literal death loop where the only solution is hyperinflation, which would ruin us.”“Go doge go,” Markus concluded his tweet. Elon Musk, a friend of Markus, has been appointed as one of the two bosses of the newly formed governmental organization, and he has now taken on his new duty.This article was originally published on U.Today More

By removing Tornado Cash smart contracts from the list of sanctions, the court’s ruling essentially permits U.S. citizens to reuse the procedure. An open-source tool for protecting privacy called Tornado Cash was sanctioned on the grounds that it made illegal activity possible. However, the court determined that the Treasury had overreached itself because these immutable smart contracts are not considered property under the sanctions framework because they cannot be owned. Coinbase emphasized that outright banning open-source technology is not the answer, even though no one condones criminals abusing crypto protocols.The decision reaffirms that Congress did not intend to target a decentralized tool because of the behavior of a small percentage of users. By defending the rights of blockchain developers and users, this ruling acts as a vital check on government overreach. The court’s careful review was appreciated, and Coinbase’s Chief Legal Officer Paul Grewal underlined the company’s ongoing dedication to promoting just and open crypto laws.He emphasized the significance of encouraging creativity while maintaining accountability, a balance that this case aids in achieving. Coinbase promised to continue working to create a transparent and innovative regulatory environment in the United States and beyond.This triumph establishes a standard for how decentralized technologies ought to be handled in legal and regulatory frameworks, not only for Tornado Cash but also for the larger cryptocurrency sector. A landmark victory for liberty and cryptocurrency is certainly a big win for the industry and the freedom of digital assets.This article was originally published on U.Today More