Germany OKs $420B of insto investment, $68B ProFunds launches the first public BTC mutual fund, $7B Horizon allocates 10% of fund to GBTC, and Fidelity’s macro head says BTC looks like Gold in the 1970s

By Jesse Knutson

What’s happening in the markets?

Bitcoin is on pace for the second consecutive weekly gain after finishing higher nine of the previous ten days.

Declines in equities looked to weigh on Bitcoin’s momentum a bit as China’s crackdown on domestic tech giants drove HK and China lower and following signs of slowing growth from Facebook, Amazon, and Apple. Bitcoin is on pace to end Friday lower after a multi-year high nine consecutive days of gains.

Bitcoin’s rally, while largely technical, was helped in part by indications from Jerome Powell this week that the Fed was unlikely to hike rates any time soon…


ARK and Rothschild Investment buy the dip, BNY Mellon and State Street back new trading platform, JPM’s $630B wealth division opens GBTC to clients, Elon says SpaceX owns BTC, Tesla likely to reinstate BTC payments, and BTC bounces as sentiment falls to extreme fear

By Jesse Knutson

What’s happening in the markets?

Bitcoin is on pace to end on the top end of the week‘s range, bouncing after a brief drop below the $30,000 mark.

Overall risk sentiment looked to tick higher with equities shaking off mixed economic data, the USD stalling a bit after touching on a 16 week high, commodities recovering from a drop earlier in the week, and Bitcoin on pace for the best weekly gain in more than a month.

Headlines showed follow through on last week’s institutional participation theme with reports that custody giants BNY Mellon & State Street were backing a new digital…


$2T Capital Group buys BTC proxy, BNY Mellon teams up with Grayscale, $550M of GBTC set to unlock, central banks criticize stablecoins, Jack Dorsey wants to build DeFi on Bitcoin, PayPal jacks BTC purchase limits and Blockstream’s BMN produces 0.19 BTC/BMN in first 10 days of mining

By Jesse Knutson

What’s happening in the markets?

Bitcoin continued to slide lower ending on the bottom end of the week’s range for the fourth drop of the past five weeks.

Inflation data out mid-week came in hotter than expected with consumer prices posting the largest annual increase in 13 years. The blowout inflation reading saw 10-year Treasury yields break back above 1.4%, risk assets mostly trade lower and Bitcoin drift towards the bottom end of its eight-week consolidation range.

News flow this week was mixed with stablecoin criticisms from the PBOC, ECB, and Fed, reports that $2 Trillion Capital Group had purchased $600M of…


$55B Marshall Wace prepares BTC fund, Square plans hardware wallet, exchanges pinched by regulators, China eyes stablecoins, volatility contracts, and mining profitability soars as the BMN kicks off mining

By Jesse Knutson

What’s happening in the markets?

Bitcoin is on pace for the third decline of the past five weeks.

Traditional markets offered little in the way of direction for Bitcoin, cooling a bit on Delta variant-driven profit-taking after record highs last week.

Bitcoin’s consolidation completed the seventh consecutive week with price continuing to oscillate between the $32,000 and $36,000 levels. Given the duration of this consolidation, volatility has now fallen to pretty extreme levels.

I think this probably foreshadows a significant move in price in the coming week or so.

Despite headlines this week that $55B Marshall Wace is planning a new Bitcoin…


$22B Point72, Soros Asset Management, $425B of German special fund capital, 24 million community bank clients, and countries across Latin America all eyeing Bitcoin investments as the GBTC discount shrinks and the Purpose BTC ETF hits a record high 22,190 BTC under management

By Jesse Knutson

What’s happening in the markets?

Bitcoin is on pace to post its third consecutive week of declines as consolidation between the $30,000 and $40,000 range stretches into week six.

Stonks continued to move higher with the S&P starting off 3Q21 with another new all-time high. Gains in US equities showed tentative signs of spilling over into Bitcoin world with MicroStrategy hitting an 11-week high mid-week, the GBTC discount starting to shrink and the Purpose Bitcoin ETF posting a new record high of 22,190 BTC under management.

Given the sideways trading of the past six weeks and a faster than expected cooling of…


by Leonardo Comandini

TL;DR: LiquiDEX is a working protocol to perform 2-step atomic swaps on Liquid. It requires a single interaction by the swap parties, which drastically improves the UX. It can be used as a building block for implementing more complex systems such as automated OTC desks, auctions or even a decentralized exchange (DEX).

Note: LiquiDEX is not production-ready yet!

Introduction

The Liquid Network is a Bitcoin sidechain with Issued Assets and Confidential Transactions.

The native asset of Liquid is L-BTC (Liquid bitcoin), which has a cryptographic peg with Bitcoin.

New tokens can be issued on Liquid to represent digital…


Paraguay eyes BTC as legal tender, El Salvador to distribute $30 of BTC to citizens, Citibank launches BTC unit, Cathie Wood buys the dip, new ETFs launch in Brazil and the Middle East, Sichuan turns up the heat on miners, and Elon agrees to Bitcoin talk with Jack

By Jesse Knutson

What’s happening in the markets?

Bitcoin is on pace to finish down for the second week in a row though up off the week’s lows after a brief drop below the $30,000 mark.

Trading was a bit more interesting this week after a month and a half of consolidation and generally declining volatility. The mid-week price drop was followed by a quick 18% rebound and rally back above the $34,000 mark.

Stonks provided a bit of tailwind for Bitcoin, with global equities on pace for the best week since April and the S&P and Nasdaq both hitting new highs. …


Blockstream Mining Note launches tranche 2, MicroStrategy reloads for more BTC buys, Spain’s BBVA opens BTC to private wealth, China crackdown continues, SEC kicks ETF decision back, Miami wants miners, Panama may follow El Salvador, 81% of fund managers say Bitcoin’s a bubble as holders turn net buyers, and Fidelity says the bottom is in

By Jesse Knutson

What’s happening in the markets?

Bitcoin ended the week modestly lower as consolidation between $30,000 and $40,000 stretched into the fourth consecutive week.

Bitcoin gave up a break above $41,000 earlier in the week as stonks tanked and the USD spiked on speculation that the Fed may hike interest rates sooner than expected. Tech stocks were a bit of an exception with NASDAQ constituents ending just off an all-time high.

Next Friday is Bitcoin futures/options expiry which may provide a bit of excitement after 30 days of sideways trading.

News flow was more of a mixed bag this week after a string…


El Salvador adopts BTC, India may formalize BTC as an asset class, Square & Blockstream team up on BTC solar farm, Senator Warren calls for a crypto crackdown, JPM says Tether is an investment giant, Invesco makes new ETF application and long term holders buy the dip

By Jesse Knutson

What’s happening in the markets?

Bitcoin is on track to squeak out its third weekly win in a row as consolidation continues and the strength of the recent downtrend begins to ebb.

Stonks pushed higher and gold was flat despite hotter than expected inflation data. The consumer price index came in +5% YoY, the biggest increase since 2008 while core inflation gained by the most in almost three decades.

The reaction by markets implies an acceptance of the Fed’s narrative that price increases are due primarily to a reopening of the economy and will likely be transitory. Meaning that tightening is still…


Bloomberg reiterates $100K 2021 price target, Guggenheim launches BTC fund, Standard Chartered & OSL team up on new trading platform, Marathon gives up on compliant mining, Blackrock warns on inflation and Bitcoin price prepares to run the gauntlet

By Jesse Knutson

What’s happening in the markets?

Bitcoin looks on pace to end the week little changed — though on the bottom end of the week’s range. Price this week saw a string of higher lows and looked set to take a crack at $40,000 resistance before getting pulled lower by more cryptic tweets from Elon Musk.

It’s not surprising, therefore, to see that Elon’s positive:negative mention ratio on Twitter fell to a record low this week. More downside there yet to come I would imagine.

The pullback this time was relatively muted, though, which is somewhat reminiscent of the decreasing impact ETF rejections…

Blockstream

Blockstream is the global leader in Bitcoin & blockchain technology, making financial markets more efficient by reducing reliance on trust.

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