Author: msmark

BlackRock believes that Bitcoin (BTC) will become an integral part of the financial system over the coming decade as it increasingly melds with the best parts of the traditional financial system. The asset manager’s Head of Digital Assets, Robert Mitchnick, made the statement during Reflexivity Research’s Bitcoin Investor Day on March 22. FOX Business reporter Eleanor Terrett reported his comments via X. Mitchnick said: “Eventually we expect there will be a convergence where the best of the old system and the new technology will become fused into a new infrastructure system in finance.” Mitchnick also revealed that the company’s clients…

Analysts at financial services firm Bernstein are increasing their price expectations for Bitcoin. This follows a revised report in which they boosted their year-end target for the flagship crypto token’s price.  Bitcoin To Hit $90,000 By The End Of 2024 According to a report by CoinDesk, Bernstein analysts Gautam Chhugani and Mahika Sapra have raised their year-end prediction for Bitcoin’s price from $80,000 to $90,000. Their research report cited the strong Spot Bitcoin ETF inflow and a record mining income as the reasons for this increased bullishness on BTC’s price. Since launching, the Spot Bitcoin ETFs have recorded an impressive…

Saying that this week was an eventful one would still be an understatement, as market correlations were in flux and there was no shortage of big moves thanks to an action packed calendar…and a few surprises! From a handful of central bank announcements to major shifts in risk sentiment, there were plenty of swings across FX, equities, commodities, and crypto. Here’s a quick rundown of how it all went down. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to…

A privacy-focused altcoin that uses eye-scanning artificial intelligence (AI) technology is implementing a new custody feature that will allow users to store their data on personal devices. In a new blog post, Worldcoin (WLD), created by OpenAI chief executive Sam Altman, says that the change will increase Worldcoin’s utility in general and is a step toward “solidifying the project’s user-centric architecture.” “Personal data custody, or Personal Custody, means that the information (images, metadata and derived data) generated at the orb and used to generate the iris code during World ID verification is held on your device. This approach gives you…

Crude oil futures are settling at $80.63. That is down $0.44 or -0.54%.The low for the day reached $80.42. The high was up at $81.45. For the trading week, the price is down -0.51% on a decline of $0.41. At session highs this week, the price was up $2.08. At session lows, the price was down $0.74.Looking at the weekly chart below, the high price this week at $83.12 briefly moved above its 100-week moving average at $83.27 before rotating back to the downside. Buyers had a shot. They missed. The low for the week was reached yesterday at $80.30.The…

Frax Finance, a decentralized finance (DeFi) protocol, recently unveiled its Singularity Roadmap. It aims to propel the total value locked (TVL) of its layer 2 blockchain, Fraxtal, to $100 billion by the end of 2026. This notable surge would represent a 760,000% increase from the current TVL levels, which stand at $13 million.  Frax Finance Singularity Roadmap According to the protocol’s announcement, Fraxtal, the substrate that powers the Frax ecosystem, serves as Frax Finance’s operating system. With the launch of Fraxtal and achieving an effective 100% Collateralization Ratio (CR), Frax Finance claims to have consolidated its core product offerings.  To…

Join Our Telegram channel to stay up to date on breaking news coverage The newest Solana-based meme coin has become a hot topic on DEXTools after surging over 2000% in the first 24 hours since its launch. Let’s quickly review the overall crypto market. In the last 24 hours, Bitcoin has shown a positive trend, surging 3.8% to reach $66,000. While Bitcoin has experienced recent gains, it’s worth noting that it’s still down 8.3% over the past week. Now, let’s shift our focus to this unique meme coin on Solana that holds the potential for significant growth, possibly reaching a…

A crypto analyst on X is confident that Bitcoin has bottomed and is poised for major gains in the sessions ahead. Interestingly, the bullish outlook hinges on the Bitcoin market cap retesting all-time highs at press time.  Will BTC Rally? Market Dynamics Changing So far, the Bitcoin price is around 2021 highs in USD terms but recently broke all-time highs, peaking at around $73,800. This fluctuation is also reflected in its market cap. It currently stands at $1.25 trillion, down 5% in the past 24 hours. Notably, it is at the same price level as in 2021, when Bitcoin prices peaked, recording…

Mexican Peso losses steam as USD/MXN paired earlier losses. Banxico’s split decision to cut rates to 11.00% provides a nuanced outlook, contributing to the Peso’s resilience. Mexico’s economic performance shows contraction in January and high inflation data. Banxico underscores a data-dependent approach, aiming for a 3% inflation target by the second quarter of 2025. The Mexican Peso was subdued on Friday against the US Dollar (USD) after both central banks, the Federal Reserve (Fed) and the Bank of Mexico (Banxico), decided to respectively hold and cut interest rates amid their separate disinflation evolutions. Nevertheless, the emerging market currency stood afloat,…

FTX’s collapse demonstrated the wisdom of segregating the activities of market making on the one hand (Alameda) from those of running an exchange (FTX) and a custodian (FTX again) on the other. However, the question of whether to segregate the activities of operating an exchange and a custodian is more nuanced. Large banks often run their trading businesses and their custody businesses in the same legal entity, using information walls to control for conflicts of interest and ensuring that their own assets are segregated from those of their clients. This paper will use the experience of the US grain industry…