Bitcoin’s Correlation With Gold Is Weakening, Says New Kraken Report

Though Bitcoin’s (BTC) correlation with gold has diminished, the asset’s correlation with the S&P 500 stock market index is on the rise, researchers from Kraken exchange found. Kraken Intelligence, a research arm of major United States cryptocurrency exchange, Kraken, released a “Bitcoin Volatility Report” for June 2020. Bitcoin’s volatility hits a 6-month low Published on July 9, the new report outlines a 31% drop in Bitcoin trading that resulted in a six-month low of Bitcoin’s annualized volatility, which accounted for 51% in June. According to the report, the significant decline…

Bitcoin 90-Day Active Supply Soars to Pre-2017 Bull Run Level: Report

A new report analyzing on-chain activity says that Bitcoin (BTC) is now due for a bullish phase based on supply movements. Published by asset manager Stack Funds on July 2, the findings suggest that 90-day active supply is dictating bullish potential for BTC/USD. BTC price to rise “sooner rather than later” Publishing an accompanying chart for the metric, Stack argued that it has important implications for historical price behavior. “The data provides an indication of two folds. Firstly, the 90d % of Bitcoin active supply has tapered over the past…

Binance Security Report Sheds Light On Crypto Scams

A report released by major crypto exchange Binance illustrates how scams targeting cryptocurrency investors attempt to gain credibility. In the report published on June 30, the exchange explained that its Binance Sentry risk investigation service observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. The frauds do not just concern crypto but also forex, binary options and contracts for difference (CFDs). Binance published the report after a Bitcoin (BTC) scam targeted the residents of Winnipeg, Canada, in late June. Scams are often well-organized, big operations…

New Report Aims to Answer Whether Tron Is a ‘Scam’

The latest report from Flipside Crypto takes a deep look into Tron (TRX) with the hope of answering a question many critics in the cryptocurrency space have posed: “Is Tron a scam?”. Dubious past The report starts by rehashing the Tron’s compromised origins story — from the allegedly plagiarized white paper to the promise of the $20 million giveaway that was never fulfilled. However, the report comes an unexpected conclusion: “Turns out, looking at the active supply of TRX in the past 30 days reveals a very healthy and active…

U.S. Stocks Dull Bitcoin Appeal on Optimistic Jobs Report

Spot bitcoin fell was down 1.32 percent at $9,659 per token ahead of the New York opening bell Friday. Bitcoin futures slid 1.82 percent to $9,715. The move downhill appeared as the U.S. futures headed higher following jobs report at 0830 ET. Bitcoin prices eased ahead of hugely awaited U.S. jobs report on Friday as investors pinned their hopes on economic recovery. The spot bitcoin rate fell 1.32 percent to $9,659 per token, while CME futures linked to the Bitcoin market were down 1.89 percent at $9,715. In contrast, the…

Coinbase Report Suggests Bitcoin Acts as a Gateway to Altcoins

Bitcoin (BTC) acts like a gateway down the altcoin rabbit hole, according to new research from Coinbase. The research found that while 60% of users buy Bitcoin as their first cryptocurrency purchase, only 24% of investors maintain the Bitcoin faith. The majority of customers buy Bitcoin and then move into altcoins. Source: Coinbase Investors appear more willing to consider altcoins during bull runs, such as when Bitcoin’s market dominance dropped below 30% on Coinbase during the ICO craze and Ethereum run in 2017. For a brief time, Ethereum was the…

Negative Interest Rates Give BTC an Opportunity to Shine, Report Claims

A report claims that negative interest rates present Bitcoin (BTC) with a unique opportunity. The May 14 report, published by Stack Funds, stipulates that if the interest rates in the U.S. turn negative in the near future, it will force market participants to look for alternatives to traditional assets. This could present Bitcoin with a real opportunity to garner institutional adoption. Negative interest rates It is important to keep in mind that there is no single interest rate in the economy, but rather many. The one that the report alludes…

Bitcoin Network Is at Peak Health Post-Halving, Report Shows

A recent report from Glassnode indicates that Bitcoin (BTC) network health is close to its maximum despite the recent halving of miner rewards. On-chain BTC Index The company has recently introduced its on-chain BTC Index (GNI) that captures a number of key on-chain metrics and combines them into easily digestible charts and numbers.  Source: Glassnode The GNI has decreased from 76 points to 74 points since last week.  However, one of the key metrics, ‘Network Health,’ which combines network growth and network activity, has jumped 6 points, from 88 to…

Crypto Hedge Funds Doubled Assets Under Management in 2019, PwC Report Says

The “2020 Crypto Hedge Fund Report,” published on May 11 by PwC and Elwood Asset Management Services Ltd., said that cryptocurrency hedge funds’ assets under management doubled in 2019.  According to the survey, total assets under management in crypto funds grew from $1 billion in 2018 to more than $2 billion by the end of 2019. The average per fund also doubled, jumping from $21.9 million to $44 million.  Correlation with Bitcoin market The study found that crypto fund launches are highly correlated with the price of Bitcoin. When bitcoin price…

Buried Report Reveals Factors Behind South Korea’s ‘18 Crypto Crackdown

A newly unearthed report from South Korea’s financial watchdogs has revealed the rationale behind the country’s 2018 crypto crackdown that played a featured role in ‘Crypto Winter’. Digital Today dug up the “2017 Anti-Money Laundering Annual Report” which showed the Financial Intelligence Unit had identified more than half a million crypto transactions in South Korea in 2017 related to illegal activities. The 519,908 crypto transactions were flagged by authorities as “suspicious” and the upswing in money laundering fuelled the national government’s decision to carry out a partial crypto crackdown in…