Eurekahedge's index of crypto hedge funds have clocked 21.15% returns since the start of 2020 and this is the best performance from the firm since the index started in 2013. Even in 2017, which was the blockbuster year for cryptocurrencies, the January returns were a modest 4.85%. If the crypto hedge funds maintain their stellar performance this year, they are likely to attract further investments in this space. Coinbase is now a Visa principal member, the first crypto pure-play company to receive the membership. This will help the company to offer more features and services to its customers of Coinbase …

Bitcoin (BTC) price has fallen further dropping about $300 in less than one hour on Sunday, Feb. 16, though paring some losses since with a bounce from $9,600 to $9,790 at press time. Crypto market 1-day price chart. Source: Coin360 Bad weekend for Bitcoin price bulls Most other cryptocurrencies fared much worse, however, as evidenced by Bitcoin’s market dominance rising one percent from yesterday to 63.2%. The bad weekend for the bulls began on Saturday after losing the $10,000 level. Today, BTC/USD tumbled further and bounced off a key resistance level at around $9,600, which also happens to be the …

Bitcoin dropped below the psychologically important level of $10,000 on Feb. 15. This has dragged the crypto markets lower, whose market capitalization has dropped below $300 billion. Though Bitcoin has declined, its market dominance has risen from below 61% on Feb. 15 to 62.5%. This shows that altcoins have fallen more than Bitcoin. Serial venture capitalist Mike Novogratz believes that Bitcoin is likely to rise to its lifetime highs in 2020. He said that Bitcoin was the “best new brand of the past eleven years” and had found its lane as a store of value. Novogratz felt that Bitcoin was …

Bitcoin has extended its strong run this year by a move above the psychologically critical level of $10,000. The positive sentiment in Bitcoin is leading the crypto space higher. In 2020, most major altcoins have been outperforming Bitcoin, which shows investor interest has picked up in them once again. However, the focus of the crypto industry remains on the forthcoming Bitcoin halving. Coinbase believes that the supply rate reduction will further cement Bitcoin’s position as digital gold and it will act as a rival to gold in the digital age. American provider of investment data Weiss Ratings has also upgraded …

The CME Group will launch its Bitcoin options contract on Jan. 13. The analysts at JPMorgan Chase & Co. have spotted a 69% increase in open interest from year-end in CME’s existing Bitcoin futures contracts. They also noted that the number of large open-interest holders has picked up. This shows an increase in institutional interest before the launch of options trading. Nevertheless, as Bitcoin price action has been mixed during previous launches of such services, it is difficult to predict the move based on this event alone. Halving, however, is an important event and analysts at market research firm Fundstrat …

Since the start of 2019, the crypto market has been on the receiving end of an insane amount of financial volatility. For example, in January, the total market capitalization of this burgeoning sector was around $130 billion. However, by July, the market at large had witnessed an influx of bullish momentum that pushed the total capitalization value of this space to a whopping $373 billion. Following this period, the aforementioned bull run proceeded to subside quite a bit, with the market now hovering a tad under the $200 billion threshold. A few cryptocurrencies maintained a strong financial standing all year …

Tom Jessop, the president of Fidelity Digital Assets, said that the absence of a long track record is one of the main reasons that is keeping the institutional investors at bay from investing in cryptocurrencies. As the asset class is only 10 years old, Jessop said that the institutions question the durability and longevity and are unsure whether it would be around tomorrow. However, he said that these concerns are likely to be resolved with time. Even among the investors, the perception has been that crypto investing is largely male-dominated. Nonetheless, a survey by Bitcoin (BTC) fund operator Grayscale has …

The United States Federal Reserve believes that stablecoins “could complement existing payment systems and improve consumer welfare” but the operators behind the digital assets will require constant oversight and regulation. The Fed warned that if a stablecoin payment network achieves a global scale quickly, it will increase risks related to financial stability and monetary policy. Interestingly, with all the regulations and monetary policy initiatives of the Fed, the total debt of the US has hit $23 trillion. It is not only the US that is burdened by debt. Global debt will reach a staggerring $255 trillion by the end of …

Though fundamentals play a large part in determining the price of an asset, short-term movements of the markets are driven by sentiment. This was clearly visible during the week. A few events soured sentiment early in the week, which dragged the total market capitalization of the crypto space down to $202 billion. When the markets are in a corrective phase, traders can become bearish even on events that do not have a material impact on the short-term. After the initial knee-jerk reaction, the markets digested the news and realized that it was not materially negative. This resulted in a pullback, …

The United States Securities and Exchange Commission (SEC) has been in the thick of the action over the past week. First, the SEC rejected the Bitcoin ETF application from Bitwise Asset Management and NYSE Arca. Next, the governing body obtained a temporary restraining order against Telegram and its wholly-owned subsidiary Telegram Open Network (TON) for hosting a securities sale which would culminate with the distribution of Gram (GRM) tokens within the U.S. The SEC claims that the ICO was illegal as Telegram did not register the offering. While both news events are overwhelmingly negative, the crypto markets have held their …

Chainlink (LINK) has been on fire, blazing its own trail independent from the rest of the market. The digital asset appears to be in the beginning stages of a strong uptrend on the charts, backed by a devoted community and several significant news headlines this year. Chainlink’s recent price action is notable because of its timing and independence from the rest of the crypto market. Sentiment around Bitcoin (BTC) has been noticeably bearish since its fall from a multi-month consolidation pattern on Sept. 24. Bitcoin is firmly positioned as the crypto market’s leading asset, meaning that overall market sentiment has …

Fundstrat Global Advisors co-founder Tom Lee believes that Bitcoin does well when the S&P 500 market index moves up. Though Bitcoin might act as a macro hedge against global turmoil in some instances, it has largely performed negatively when the S&P 500 has dropped. It will be interesting to see how Bitcoin moves in the next few weeks. Bakkt’s launch did not generate the interest it was expected to do, which led some to blame it as the reason for the recent drop in Bitcoin. However, institutional traders do not jump in without testing waters. In a press release, Intercontinental …