Data from CoinMetrics shows that crypto whales now hold 42.1% of Bitcoin’s current supply. This is a slight increase compared to 37.9% two years back and analysts have interpreted the increase as a positive sign, as it shows large investors have been accumulating Bitcoin during its bear phase. There is, however, no major change in the top 1,000 addresses, as their holdings only inched up from 34.4% at the end of 2017 to 34.8%, according to Flipside. While retail traders have been worried about picking a bottom, large investors are looking at the possible upside to be attained over the …

Paris-based asset management firm Napoleon AM has announced the launch of a specialized professional fund under French law, the Napoleon Bitcoin Fund. The fund would replicate the price of the cash-settled Bitcoin futures listed on the Chicago Mercantile Exchange. According to the company, this is one of the first regulated products giving exposure to Bitcoin, with which institutional investors can diversify their portfolio. While the firms are launching crypto products for professional investors, not every investor is confident about the future of Bitcoin. Billionaire investor Mark Cuban believes that BTC could never become a reliable currency because “it's too difficult …

China could start its pilot for the central bank digital currency (CBDC) before the end of this year, according to local news outlet Caijing. The article states that the anticipated pilot project “will go out of the central bank system and enter real service scenarios such as transportation, education, and medical treatment,” which will reach the end users. The project will be overseen by the Chinese central bank and will include four major banks and large corporations such as China Telecom. This is a significant step as it will give China a major head start over other developed economies. Daily …

In its “Imagine 2030” report, Deutsche Bank strategist Jim Reid forecast that by 2030, digital currencies could replace cash. Reid said that in order for mainstream integration to occur, digital currencies will have to convince regulators that they are safe for investors and find solutions for issues such as cyber attacks, electricity consumption and digital war. Cryptocurrency adoption by a large traditional financial institution could also signal that digital assets could one day replace fiat currencies in the future. To counter the possibility of fiat currencies being undermined by cryptocurrencies, several governments are planning to issue their own central bank …

On Dec. 2, open interest on Bakkt’s Bitcoin futures reached a new all-time high. This came just a few days after the daily Bitcoin futures trading volume had hit a lifetime high. These back to back trading volume records show an increasing interest from institutional investors but the majority of the crypto community is still wondering why Bitcon’s spot price is not steadily increasing. Bakkt’s launch of Bitcoin options contracts on Dec. 9 is likely to attract more players to trade the digital asset. As the derivatives market size increases, it could have a greater effect on Bitcoin’s spot price. …

Bitcoin price continues to trade with an advantage to bears but this does not mean investors or miners have capitulated. About 64% of the total Bitcoin mined to date has been dormant in wallets since 2018. This shows that Bitcoin hodlers do not believe in trading for short-term gains, as they anticipate much higher prices in the future. While this might be a feasible strategy for the whales, retail traders can rake up profits if they buy during periods of deep distress and sell their positions during times of euphoria. One of the events that many hopeful investors are anticipating …

The futures market provides good insight into the sentiment of larger players. If the futures volume continues to rise in a falling market, this indicates that a decline is likely to extend further. However, if the volume increases with a rise in price, this shows that the market participants are accumulating positions. On Nov. 27, Bitcoin closed in the green and Bitcoin futures on Bakkt hit a new all-time high volume record which was 60% higher than the previous record. This shows that institutional players have increased their activity during the most recent relief rally. This points to possible accumulation …

The theft of 342,000 Ether (ETH) from South Korean cryptocurrency exchange Upbit could have halted the current relief rally taking place in the crypto market. However, Lee Seok-woo, the CEO of Upbit’s operator, Dunamu said that the company will cover for the losses. This erased some of the initial concerns of the market participants and improved sentiment. When sentiment is negative, the markets fall quickly but take a lot longer to rise. This week a bullish bit of news came from Bitcoin ATM firm Bitstop. The company intends to install Bitcoin ATMs at several Simon Malls locations in the United …

The creator of one of the best-known Bitcoin (BTC) events has confirmed it will no longer take place as it has fulfilled its “initial mission.” In a statement on the official website of Bitcoin Black Friday, Jon Holmquist said that he had “fallen out of love” with the idea of using BTC for consumer payments. Holmquist: Bitcoin is “investment and new financial instrument” Bitcoin is an investment vehicle and financial tool, he argued, and simple payments should be left to altcoins such as Bitcoin Cash (BCH). “I have decided not to continue running the Bitcoin Black Friday event. After 7 …

The total crypto market capitalization has bounced from the $180 billion mark. We anticipate a strong support in the $168 billion to $183 billion range because the market cap had consolidated in this range in April of this year, before moving higher. So, on the way down, we expect this range to act as a strong support. Although Bitcoin (BTC) has started this leg of the down move, it is interesting to note that it has not given up its crypto market dominance, which remains above 66%. This shows that the altcoins are unlikely to go against Bitcoin’s main trend. …

Fear gripped the markets on the news that Chinese authorities had raided the offices of the leading cryptocurrency exchange Binance. This negated all the positive effects that had accrued following President Xi Jinping’s endorsement of blockchain technology. Though Binance denied reports of any raids, price action within the sector has remained subdued. Daily cryptocurrency market performance. Source: Coin360 Naysayers will use these bearish moments to further spread panic among market participants by issuing outlandish targets on the downside. Peter Schiff believes that Bitcoin could plummet to $1,000 as it has formed a head and shoulders pattern. We, however, could not …

Bitcoin.com, the Bitcoin (BTC)-related firm backed by crypto evangelist Roger Ver, is planning to launch its $200 million Bitcoin Cash (BCH) investment fund. Ver has announced the news speaking at a Bitcoin Cash meetup in London on Nov. 19, as he tweeted on Nov. 20. The event was hosted by major global crypto wallet Blockchain.com. The new Bitcoin Cash Ecosystem Fund will focus on payment solutions and non-custodial financial services for Bitcoin Cash, a cryptocurrency that emerged from a hard fork of Bitcoin in August 2017. The new fund will be investing in payment gateways and wallet acquirers According to …