Markets

Bitcoin and traditional financial markets have been highly correlated over the past couple of months. This was clearly displayed over the past couple of weeks where the cryptocurrency followed stocks closely.BTC and S&P 500 Correlation SurgingData from the cryptocurrency analytics resource skew shows that the realized correlation between Bitcoin’s price and the S&p 500 has surged to a 5-month high. The last time it was at these levels was back in November 2020.Bitcoin – S&P 500...

EOS is likely forming a support base above the $3.150 zone against the US Dollar. The price is currently trading above the $3.750 support and the 55 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near $3.820 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to start a strong increase above the $4.000 and $4.200 resistance levels. EOS price is consolidating above $3.750 against the...

Litecoin price started a steady increase from the $155 support zone against the US Dollar. LTC price is now trading well above $180 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $175 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair is likely to clear the $200 resistance and started a strong increase in the near term. Litecoin price is gaining momentum above $185 against the...

Bitcoin has been exploding over the past year. Aside from experiencing heavy price booms that saw the currency rise from about $10,000 to $40,000 in just three months and attain all kinds of new highs, the currency has also been seeing fresh waves of institutional interest from the likes of companies such as MicroStrategy and Tesla, which have both purchased billions of dollars-worth of the asset. Now, asset manager Ruffer claims that things are just getting started for...

It’s only been a few weeks since Canada introduced the world to the first bitcoin-based exchange-traded fund (ETF). Now, it looks like an Ethereum-based ETF may be on its way. The Case for Canada and the Crypto ETF Evolve Funds is the company behind Canada’s BTC ETF, and it looks like the company is already experiencing heavy success with this product. So much, in fact, that it wants to bring similar products to the market, and it feels that Ethereum may be the way to...

Bitcoin has been doing quite well as of late, but as we’ve seen in the past, not everyone is set to be convinced by the world’s largest and most popular digital currency by market cap. Michael Burry – a legendary investor and the subject of both the book and the film “The Big Short” – is one such person and believes that bitcoin is trapped within the confines of a massive bubble. Michael Burry: Bitcoin Is Headed Downhill In a tweet he was quick to get rid of, Burry...

The popular blockchain project TRON will introduce the DLT-agnostic prediction market Prosper to its ecosystem. TRON users and TRX holders will be able to provide liquidity and enhance the success-rate of the prediction market solution.TRON Teams Up With ProsperJustin Sun’s TRON announced its latest partnership in a press release shared with CryptoPotato earlier today. It informed that the two blockchain projects have teamed up to address some of the issues related to decentralized prediction...

Iva Wisher, Prosper co-founder, notes that the partnership with TRON represents a milestone in Prosper’s efforts to “collaborate with the biggest players of the DeFi world.”TRON users will soon access cross-chain prediction markets and hedging on the platform’s burgeoning DeFi ecosystem, according to a March 3rd release announcing a partnership with Prosper, a non-custodial, cross-chain platform.TRON, already one of the world’s largest and most popular blockchain-based operating systems, is...

Paris Hilton, who is a great-granddaughter of Conrad Hilton, the founder of Hilton Hotels, auctioned one of her artworks for 40 units of Ethereum last year.American media personality Paris Hilton released her first Non-Fungible Token (NFT) after she was influenced by a respected gamer, artist, and entrepreneur KimDotcom. However, it is reported that she was involved with the NFT market last year, according to news outlet Decrypt. Reportedly, Paris Hilton who is a great-granddaughter of Conrad...

The recent price developments have not deterred institutional investors from allocating funds in bitcoin. Just the opposite, the latest major withdrawal from Coinbase to custody wallets worth $630 million became a fact earlier today, suggesting that institutions keep accumulating.Institutions Double-Down on BTCCryptoQuant’s CEO Ki Young Ju has repeatedly outlined the connection between bitcoin’s price and institutions using the largest US-based crypto exchange, Coinbase, to purchase more of...