Proshares ETFs will release a new product which will allow investors to short bitcoin.Proshares previously released the Proshares Bitcoin Strategy ETF that trades futures contracts as well.Bitcoin reached its all time high days after its original ETF was released as this short ETF releases amid harsh market conditions. Proshares, a provider of exchange-traded-funds (ETFs), is set to release the Short…
The United Kingdom, in stark contrast to a proposal approved in March by the European Union, will not require senders of crypto assets to collect information about recipients who use unhosted wallet addresses. “Instead of requiring the collection of beneficiary and originator information for all unhosted wallet transfers, crypto asset businesses will only be expected to collect this information for…
Cleveland Federal Reserve Bank president Loretta Mester doesn’t think a recession will take place in the United States but believes it will take two years to get inflation back down to 2%. While speaking during an interview on Sunday, Mester explained that while it will take two years, inflation “will be moving down.” A 2% Inflation Rate Will Take 2…
The crypto markets have been in a strong bear phase for the past several months but JPMorgan Chase analysts expect that to change and they havprojected a significant upside from the current levels. The analysts cited the rising share of all stablecoins in the total crypto market for their bullish outlook. Unperturbed by the current fall, retail traders have been adding…
ProShares, an exchange-traded fund (ETF) provider, today announced a new product that will allow investors to bet against Bitcoin—a U.S. first. The ProShares Short Bitcoin Strategy ETF, slated to begin trading under BITI on the New York Stock Exchange on Tuesday, provides an opportunity to profit if the price of the world’s biggest digital asset declines. Short selling is an…
According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran’s Ministry of Energy, said that the entity would be cutting power supply to all of the country’s licensed crypto mining firms by the beginning of July. Citing an anticipated electricity deficit from the peak-summer season, Mashhadi stated, “There are currently 118 authorized [digital currency]…
Canada’s Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto’s most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund’s holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop…
In brief Cryptocurrencies have been closely correlated with U.S. equities. Prices are expected to keep trending downward. Crypto Winter is no longer coming—it’s here. A bear market. But just how bad will it get, and for how long? Well, according to analysts who spoke to Decrypt, the worst is yet to come. The real issue now is inflation, which is…
According to the Bitcoin Obituaries list, bitcoin has died 15 times in 2022, and the last obituary written about bitcoin’s death was on June 18, in a recent statement that said: “Bitcoin Will Not Recover.” Interestingly, Google Trends data shows that the search phrase “bitcoin is dead,” is estimated to hit an all-time high this week. The Old Saying ‘Bitcoin…
Natalie Brunell, the host of Coin Stories podcast, thinks that the recent incidents involving Terra and Celsius and the following market sell-off will lead to regulatory action that will likely favour Bitcoin over the rest of cryptocurrency. “I’m going to be watching for regulation developments, just signifying that Bitcoin is a digital property and that maybe there’s more fair accounting…
