In another throwback to the 2017 bull market, a major United States bank fund manager survey, or FMS, has put Bitcoin at the pinnacle of positive investor sentiment. According to Reuters, 36% of respondents identified a long Bitcoin bet as the most crowded trade ahead of long tech in a Jan. 2021 survey from Bank of America. January’s report marks the first time that ‘long tech’ has not been number one in BofA’s fund manager survey since Oct. 2019. The result also marks a steady increase in positive investor sentiment for BTC seeing as Bitcoin was third on the list …

A firm called Osprey Funds is offering an over-the-counter, or OTC, Bitcoin (BTC) trust under the ticker symbol OBTC. The trust is similar to Grayscale’s Bitcoin Trust, known as GBTC. “The Osprey Bitcoin Trust provides easy access to bitcoin,” the firm’s website says. “With a 0.49% management fee, it is the lowest cost solution.” Osprey is an entity that “builds digital asset solutions for intelligent investors,” claiming OBTC as its “flagship offering,” the website adds. "OBTC began being quoted in the OTC market today, Friday 1/15," Osprey Funds' CEO, Greg King, told Cointelegraph, adding: "As of 1/14, the product met …

The Intercontinental Exchange, the owner the New York Stock Exchange and institutional cryptocurrency exchange Bakkt, announced a deal that would see its crypto arm listed on the stock markets. As reported by the Wall Street Journal, Bakkt is set to merge with VPC Impact Acquisition Holdings, trading under the ticker VIH. VPC is a so-called "special purpose acquisition company," or SPAC. It is a shell company whose only purpose is to buy or merge with another company and allow it to be listed on the stock markets without going through the lengthy and expensive process of an initial public offering. …

Bitcoin (BTC) heads into a new week after another weekend of major volatility — but this time, the way was down, not up. As the asset loses $7,000, the most since the “vertical” price rises began, Cointelegraph presents five things that could keep it moving in the coming days. BTC dip makes Guggenheim want to sell Top on the list of topics among Bitcoiners will be the cryptocurrency’s sudden fall over Saturday and Sunday. From highs of near $42,000, BTC/USD faced a sell-off out of hours, with bears driving down the pair to current local lows of $32,300. The drop …

Altcoin’s recent gains have come under pressure as Bitcoin (BTC) price dropped to retest lower support levels after reaching a new all-time high at $41,940. Following Bitcoin’s Jan. 7 push above $40,000, the top cryptocurrency faced selling pressure that saw the price dip as low as $36,600. As has been the case throughout the current rally, investors quickly purchased the dip and BTC price rallied to a new all time high at $41,940 on Jan.8. Market sentiment continues to improve as institutional investor inflow to cryptocurrencies continues to rise. As reported by Cointelegraph, Grayscale Invesetments CEO Michael Sonnenshein says that …

Bitcoin (BTC) is almost unrecognizable as it starts the first working week of 2021, retaining the $30,000 support and hitting astronomical new highs. Hard to believe for hodlers, price action continues to wow as Monday gets underway, and attention is turning to what might be next. Cointelegraph takes a look at five factors that investors might wish to monitor in the coming days in what is one of the most volatile Bitcoin trading markets in history. Stocks hit highs as Bitcoin “flips” the Dow It’s another curious week for stocks as last week’s all-time highs on several indexes look set …

Bitcoin (BTC) has wowed investors with all-time highs and year-to-date returns of over 200% — but there are stocks that still beat it. As of Dec. 22, markets' data shows that no fewer than five companies’ stocks have given investors better rewards than a Bitcoin position since the start of 2020. Peloton Interactive Inc. First pitting itself against Bitcoin and winning is an unlikely success story — fitness equipment manufacturer Peloton Interactive. At 384% annual returns, $PTON has delivered significantly thanks (most likely) to lockdowns forcing consumers to work out at home instead of at the gym or outside. The …

Cryptocurrency derivatives exchange FTX has announced it is growing its line of tokenized stock offerings, with the addition of five cannabis-related businesses. The Wednesday announcement, tweeted by FTX and Alameda Research CEO Sam Bankman-Fried, came in a haze of ex-hemp-lary (sorry) marijuana puns. “To be blunt, this is one of the dopest joint listings we've done. FTX: blazing a path forward and weeding out the competition.” The newly listed tokenized stocks are some of the biggest names in the cannabis market: Tilray, Canopy Growth Corporation, Aurora, Chronos Group and Aphria. Tokenized and fractionalized stocks allow individual shares to be broken …

A new survey of global fund managers reveals that Bitcoin has climbed in the rankings of “most crowded trade” beating out traditional investments like gold and bonds. Bitcoin was third on the overall list of options for the category, named as the busiest trade by 15% of survey respondents. Only tech stocks (52%) and short dollar positions (18%) ranked higher. BofA Fund Manager Survey of the most crowded trades ht @jsblokland pic.twitter.com/KvlP8bTe7x — (@chigrl) December 15, 2020 The Global Fund Manager Survey was conducted by Bank of America Merrill Lynch between the period of Dec. 4 to 10 and asked …

Following a Citi report downgrading business intelligence firm Microstrategy’s stock to a “sell” rating, analysts for popular trading website the Motley Fool have recommended a lesser-known bank stock that also has an emphasis on cryptocurrencies. Last Tuesday, Citi analyst Tyler Radke downgraded Microstrategy (NASDAQ:MSTR) shortly after the firm announced a debt purchase that would bring its Bitcoin holdings up to a nearly $1 billion mark. The report chided the company, which at points has seen share prices more than triple from $92 yearly lows, for its “disproportionate” focus on bolstering its BTC holdings, and said that the current run is …

In an exclusive interview with Cointelegraph, Pomp reaffirmed the Bitcoin price prediction he made back in 2019. “It’s going to be pretty aggressive. I am pretty confident in Bitcoin to $100K by the end of 2021." Together with favorable macroeconomic conditions, Pompliano sees the after-halving effect as one of the main catalysts that could drive Bitcoin toward that potential target. Pomp believes that Bitcoin’s diminishing supply coupled with increased demand from institutional investors will drive Bitcoin’s price to new highs. Even though there are around 18.5 million Bitcoin currently in circulation, he acknowledged that this number does not take into …

Throughout the past few days, the sell-side pressure from all sides has intensified. Bitcoin miners have sold their holdings at a scale unseen for over three years. On top of this, the inflow of whale-associated BTC into exchanges has substantially spiked. The combination of the two data points indicates that miners and whales have been selling in tandem. Bitcoin continues to trade under $18,000 following a week of aggressive selling from whales, miners and, possibly, institutions. Analysts generally believe that the $19,000 region was a logical area for investors to take profit, and as such, a pullback was healthy. Heading …