opinion

Mt. Gox, Gemini $10.5 billion selling pressure weighs on markets

K33 Research Senior Analyst Vetle Lunde said that the potential $10.5 billion worth of crypto selling pressure from Mt. Gox and Gemini is weighing on the market. The amount of BTC that Mt. Gox and Gemini owe back to their users is 141,000 BTC and 27,600 BTC, respectively. Combined, that's roughly $10.5 billion. Lunde explained that this potential selling pressure, combined with inflation, central bank policy uncertainty, and Middle East tensions, is weighing on the market. He added that a strategy to hedge potential losses by shorting BCH could be attractive once the Mt. Gox redemptions begin.

Bitcoin has fallen sharply on diminished expectations of a rate cut by the US Federal Reserve

US stocks fell on speculation that the Fed will remain cautious about cutting interest rates. The Dow Jones Industrial Average closed at 396.61 points, or 1%, down from the previous trading day at 39,170.24. The S&P 500 was down 37.96 points, or 0.72%

blockchain crypto cryptocurrency btc hit 500K after halving (SpotedCrypto)

PlanB "BTC to hit $500,000 this halving...$500,000 possible in next halving"

"Bitcoin is likely to rise to $500,000 in the upcoming 2024-2028 halving cycle, and bitcoin could rise to $5 million in the next halving cycle, 2028-2032," Dutch analyst PlanB, who invented the Stock-to-Flow (S2F) model, a bitcoin price prediction model, told X, according to YT. "The

blockchain crypto cryptocurrency blackrock expect ratecut 2024 (Spoted Crypto)

BlackRock “expects two rate cuts this year, starting in September

BlackRock Chief Investment Officer Rick Ryder told CNBC that he expects two rate cuts this year, starting in September. The Fed's intense tightening has shaken consumer confidence among low-income earners. It will be difficult for the Fed to delay any longer,” he said. “If key economic data, including

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