A few years back, Bitcoin’s (BTC) price was controlled by whales as the crypto market lacked depth and was relatively illiquid. If whales were selling in unison, no one wanted to venture out and buy. Similarly, the whale’s concerted buying easily boosted prices higher. However, that is not the case anymore. With the arrival of institutional investors, it appears that the whales are gradually losing their ability to influence BT price. According to on-chain data, Grayscale Investments purchased about twice the number of Bitcoin mined in November. The steady inflow of institutional funds has boosted Grayscale’s Bitcoin Assets Under Management …

Ripple chief technology officer David Schwartz has admitted the company could be forced by validators to burn its 48 billion XRP tokens, regardless of if it agrees with the decision or not. The company currently holds half the total XRP supply and has come under fire from the community for selling off tokens in the past, although it resolutely refuted claims of price manipulation and has stopped the practice in recent times. In a Twitter thread, Schwartz confirmed that the community could vote for Ripple to burn their entire supply of XRP tokens, stating that the blockchain is “very democratic.” …

Bitcoin price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble. For example, the Japanese stock market bubble came after a high was made way back in 1989, and that level has not been conquered yet. Similarly, silver’s high close to $50 per ounce was made in 1980, and the price came close to that level only in …

Bitcoin (BTC) price came within striking distance of hitting a new all-time high today. This shows that institutional and retail investors continue to buy on every dip and BTC is in a strong uptrend. Hence, traders should not urgently looking to call a top. While Bitcoin has been creating new records, gold has corrected about 15% from its all-time high. This shows that traders are dumping their positions and this led to the largest weekly outflow in gold. Analysts believe that some of the money flowing out of gold could enter Bitcoin as institutional interest continues to soar. A new …

As Bitcoin price rallied to a new 2020 high, the open interest on CME Bitcoin (BTC) futures rose to $1.16 billion, making it the world’s largest Bitcoin futures market, according to Arcane Research. This suggests that institutional investors are relatively unmoved by the recent sharp correction in Bitcoin price. Guggenheim Partners has become the latest and the largest Wall Street institution that plans to invest in Bitcoin. Guggenheim has sought the Securities and Exchange Commission's (SEC) nod to invest up to 10% of its Macro Opportunities Fund’s net asset value in Bitcoin through the Grayscale Bitcoin Trust. The fund currently …

Bitcoin’s (BTC) rise above $20,000 will have to wait, as the price saw a strong correction and turned away from reaching a new all-time high. Data suggests that whales decided to book profits when Bitcoin was close to $19,000, and this pulled the price lower. This fall could have resulted in the liquidation of overleveraged positions in the futures market and further aggravated the decline. The current correction is a healthy sign, as the crypto market was becoming overheated as several altcoins rallied vertically in the past week. While some altcoins have given back a large portion of their recent …

The crypto market has been in a strong bull run over the past few days, and that has pushed Bitcoin (BTC) to its second-best day ever. Almost every trader now seems to be fixated on the magical figure of $20,000 per BTC. After such a sharp up-move, some traders are calling for a top, while others are projecting lofty targets for the future. CNBC Fast Money host Brian Kelly, for example, believes that the recent volitile moves in altcoins, overpriced Bitcoin address growth, and rising funding rates pointing to the arrival of retail traders may be a warning sign of …

The price of Stellar Lumens (XLM) shot up 60% in the past 24 hours and crossed the $0.2 mark for the first time since Sept. 2018. The “stellar” price action followed an announcement by the project’s developers that a new version of the Stellar public network protocol had been implemented by validators. The Protocol 15 upgrade was voted into effect at 4:00 pm UTC on Nov. 23 and introduces two new features that aim to reduce the level of complexity presented to users of Stellar network-based apps and services. Price action for Stellar Lumens has been relatively subdued over the …

On Tuesday, the bulls showed that they are in full control of the crypto market as Bitcoin (BTC) rallied to $19,418.97 and several top 10 altcoins went on a double-digit rampage to new 2020 highs. Notable performers of the day were Stellar Lumens (XLM) and XRP with a 53% and 38% gain respectively. With all the excitement and anticipation surrounding the possibility of BTC moving to $20,000, crypto traders may have missed an equally impressive performance in traditional markets. On the same day the Dow also rallied by more than 400 points to secure a new all-time high at 30,046. …

Bitcoin (BTC) has topped $19,000 in a fresh bullish surge, but traders are all about altcoins on Nov. 24. In what many are heralding as the beginning of “alt season,” large-cap cryptocurrencies are seeing their biggest gains in three years. XRP, XLM lead new “alt season” Cointelegraph takes a look at five of the biggest movers, all of which have returned to at least a $1 billion market cap. XRP Ripple’s XRP token is gaining traction on social media after a curious lull, thanks to its weekly gains that have topped 110%. At press time, XRP/USD traded at $0.62, having …

Hot on the heels of Paypal’s crypto adoption, JPMorgan’s Global Markets Strategy division released a report detailing how Bitcoin (BTC) could offer “considerable” upside “if it competes more intensely with gold as an 'alternative' currency.” According to the analysts, the three reasons for their long-term bullish view on Bitcoin are the large valuation gap between Bitcoin and gold, the growing utility of cryptocurrencies, and millennials preferring Bitcoin over gold in the long-term. This report shows that institutions are gradually realizing the huge potential of cryptocurrencies and are willing to take a U-turn on their previous apprehensions. Galaxy Digital CEO Mike …

Data from Skew shows Bitcoin’s (BTC) spot volume on LMAX Digital, an exchange that mainly caters to institutions, has overtaken retail-oriented exchanges. This signals that institutional investors could be building up positions as they expect the price to move higher in the future. Along with spot purchases, institutional investors’ participation in the derivatives market has also increased. Data from Arcane Research shows that a record number of investors are taking delivery of Bitcoin from the Bakkt Bitcoin exchange. Another metric that can be useful for traders is volatility. Bitcoin options data shows that the implied volatility of at the money …