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The bank said it sees few positive drivers for the crypto exchange’s share price in the near term.
Data shows most SHIB market depth is under $1 million on various crypto exchanges, and a sell order of that value could move token prices by 2% immediately.
Crypto data firm CCData released the first institutional-grade scoring system that evaluates digital assets focusing on environmental, social and governance aspects.
Bitcoin has failed twice this week to scale the $31,000 mark, with open interest in stablecoin-margined futures rising on both occasions.
ALSO: Former CFTC Chair Timothy Massad told CoinDesk TV that regulatory agencies “don’t have to resolve” the stubbornly troublesome issue whether cryptos are commodities or securities.
Wednesday's CPI report showed sizable decelerations in both overall and core U.S. inflation, which one might've thought would drive BTC's price higher.
Tokens such as AGIX and FET saw modest bump after Musk announced new Artificial Intelligence (AI) company "xAI" to take on ChatGPT.
The latest price moves in crypto markets in context for July 12, 2023.
The bank lifted its MicroStrategy price target to $510, representing 24% potential upside, the report said.
The dollar value of the unlock amounted to 38% of the cryptocurrency's average 30-day trading volume and had potential to push prices lower, per one analyst.
- 16:23Spot Bitcoin ETF sees net outflow of 382 BTC today, Spot Ethereum ETF sees net outflow of 1648 ETHAccording to Lookonchain, today 10 spot Bitcoin ETFs experienced a net outflow of 382 BTC, while at the same time 9 spot Ethereum ETFs saw a net outflow of 1648 ETH.
- 16:20Bitwise Executive: Bitcoin Could Reach $1 Million by 2029André Dragosch, Head of Research at Bitwise Europe, predicts that Bitcoin could reach $1 million by 2029, surpassing gold's current market value of $21.7 trillion. His analysis indicates that Bitcoin's base target price for the 2025 cycle is $200,000, and if the U.S. government adopts a "budget-neutral" strategy to directly allocate Bitcoin, it could rise to $500,000. The first-year performance of the U.S. spot Bitcoin ETF exceeded expectations, with BlackRock's IBITETF setting a record for the fastest growth in history. Dragosch believes that as major investment banks like Merrill Lynch and Morgan Stanley gradually open their channels, "structural capital inflows" will extend the Bitcoin cycle.
- 16:20Tether Releases Q1 Financial Report: U.S. Treasury Exposure Nears $120 Billion, Quarterly Profit Exceeds $1 BillionAccording to the official announcement, Tether released its audit report for the first quarter of 2025. As of March 31, 2025, Tether's total exposure to U.S. Treasury bonds was close to $120 billion, reaching a record high. Meanwhile, Tether achieved over $1 billion in traditional investment operating profits in the first quarter, primarily due to the robust performance of its U.S. Treasury bond portfolio, while gold investments nearly offset the volatility in the crypto market. In terms of assets and liabilities, Tether's total assets were at least $149.27 billion, with total liabilities of $143.68 billion, of which $143.68 billion was related to issued digital tokens. The excess reserves reached $5.6 billion, demonstrating the company's strong risk management and liquidity status. In the first quarter, the circulating supply of USDT increased by approximately $7 billion, and the number of user wallets increased by 46 million, a quarter-on-quarter growth of 13%. Additionally, Tether strategically invested over $2 billion through Tether Investments in long-term projects such as renewable energy, artificial intelligence, peer-to-peer communication, and data infrastructure.