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Bitcoin And Gold In One Index? Bloomberg’s Latest Move Shakes Up Finance

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Bloomberg recently launched multiple asset indices to help investors diversify their traditional portfolios, a pioneering work that combines bitcoin and commodities.

Bloomberg – a global financial media, data, and technology company – introduced its Bitcoin & Gold Blend Indices which include the Bloomberg Bitcoin and Gold Equal-Weighted Index, and the Bloomberg Dollar, Bitcoin and Gold Equal-Weighted Index, aiming to help institutional and retail investors to expand their portfolios.

A Remarkable Year

In a press statement, Bloomberg disclosed that 2024 was a landmark year for cryptocurrencies, saying that favorable regulations and sentiment brought more than $220 billion in crypto investments.

“These assets were across 250+ ETFs, including those linked to spot Bitcoin and spot Ethereum which expanded access to crypto markets using a familiar wrapper,” Bloomberg added.

According to the financial giant, gold and Bitcoin reached their peaks last year, which they believed further bonds the “relationship between digital and physical assets.”

As a result, many investors began to explore their competing and complementary attributes in diversified portfolios.

Blending Bitcoin And Gold

Bloomberg explained that Bitcoin & Gold Blend Indices are the first in this set of indices, saying they created this with a unit-based framework to allow modifications in the future and “customization of building blocks and weight based on client interest.”

BTCUSD trading at $97,581 on the daily chart: TradingView.com

According to the financial giant, the goal of the new indices is to capture Bitcoin’s growth and couple it with gold’s historic stability.

“We expect the Bloomberg Bitcoin and Gold basket to be the first of many commodities and digital asset blends as we see an increasing investor appetite for tailored indices that can target specific investment objectives and return profiles,” Bloomberg Index Services Limited Head of Commodities & Crypto Index Products Jigna Gibb said.

Bloomberg said that the Bloomberg Dollar, Bitcoin and Gold Equal-Weighted Index merges the US dollar’s defensive attributes with Bitcoin and gold’s “potential, long-term uncorrelated characteristics.”

Historically, Bitcoin and gold have a nearly zero correlation with each other, noting that both have maintained positive long-term returns making their basket an excellent diversifier for traditional multi-asset portfolios.

“With Bloomberg Indices’ capabilities, we’re able to continuously customize index offerings as the industry evolves. As a key investment hurdle in Bitcoin is elevated volatility, we see a fundamental case for using Bitcoin and Gold, not Bitcoin versus Gold,” Gibb said.

Bitcoin Follows Gold

Meanwhile, a crypto analyst disagrees that Bitcoin and gold have zero correlation.

Daink said in a post that Bitcoin is inclined to follow gold’s movements after periods when they have been decoupled or moved in different directions.

“Each time Gold displaces away from BTC, BTC plays catch up as highlighted in black circles,” Daink explained on the X platform.

Throughout the majority of Bitcoin’s existence, the correlation between Bitcoin and gold has been subject to fluctuations. Initially, the prices of these two assets fluctuated in a largely independent manner. This meant that when the price of one asset increased, the other did not necessarily follow suit.

Although there is no immediate relationship between Bitcoin and gold, the crypto tends to align its movement with that of the precious metal after a certain period.

Featured image from Gemini Imagen, chart from TradingView





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8,000 Dormant Bitcoin Suddenly Move: What’s Next For The Market?

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Popular CryptoQuant analyst Maartunn reports that 8,000 Bitcoin (BTC) which have been dormant for five to seven years have been moved suddenly, adding to current bearish concerns in the crypto. This development comes after a rather adventurous week as BTC prices struggled to break above $89,000, following an initial steady bullish climb, before succumbing to heavy selling pressures driven by US President Donald Trump’s hawkish tariff policy.

$674 Million In Old BTC Transfers In Single Block – Cause For Alarm?

The Spent Output Age Bands is a crucial metric to measure how long Bitcoin tokens remain inactive before moving. According to Maartuun in an X post, this metric has recently revealed that 8,000 BTC worth $674 million that was last transferred between 2018 and 2020 have been moved recently in a single block drawing significant market attention.

This transfer follows a string of recent activations of dormant Bitcoin stashes. On March 24, a 14-year inactive Bitcoin wallet suddenly moved 100 Bitcoin valued at $8.5 million. Meanwhile, in early March, six ancient Bitcoin wallets also transferred nearly 250 BTC worth $22 million.

Bitcoin

Notably, the most recent transaction reported by Maartuun is of far larger size with potentially strong implications for an uncertain Bitcoin market. Generally, a movement of such a large amount of BTC from long-term dormancy is usually interpreted as a signal for incoming selling pressure leading to major price corrections.

However, there are other potential non-bearish motives behind such transactions such as internal wallet shuffling by institutional investors or large holders as well as a cold storage reorganization. Currently, the owners of the new wallets receiving the 8000 is unknown thus reducing the potential of a bearish reaction from BTC holders.

Bitcoin Price Overview

In the last day, Bitcoin prices declined by 4.00% after the US Government announced intentions to impose a 25% tariff on auto imports and goods from China, Mexico, and Canada starting from April 3. This marks the latest negative reaction of the crypto market to President Trump’s international trade policies following similar incidents in early February and mid-March.

These measures by the Donald Trump administration are flaming fears of a potential economic slowdown which could further push high-risk assets such as BTC out of investors’ portfolios leading to a further downside.

At press time, Bitcoin currently trades at $83,693 reflecting a decline of 0.72% and 2.53% in the last seven and 30 days respectively. Meanwhile, the asset’s daily trading volume is up by 19.38% and is valued at $31.58 billion. The BTC market cap now stands at $1.66 trillion and still represents a dominant 61.1% of the total crypto market.

Bitcoin

BTC trading at $83,727 on the daily chart | Source: BTCUSDT chart on Tradingview.com



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Bitcoin Price Could Surge To $95,000 — But Analyst Sounds ‘Bull Trap’ Alarm

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Bitcoin price seemed to be breaking out of its consolidation range early on in the week, rising to as high as $88,500 on Monday, March 24. However, the flagship cryptocurrency appears to be back to ground zero, retracing to around $84,000 on Friday, March 28.

This recent price correction came following the release of inflation data in the United States. With the latest inflation data suggesting delayed rate cuts by the US Federal Reserve, risk assets — including cryptocurrencies — experienced significant downward pressure to close the week.

Here’s How BTC Price Could Fall To $62,000

The story gets a little grim for the world’s largest cryptocurrency after popular crypto analyst Crypto Capo put forward a bearish projection for the Bitcoin price in their latest post on the X platform. According to the crypto trader, the price of BTC could be on its way to a new low in this cycle.

Crypto Capo highlighted in their analysis of the BTC 12-hour chart that the $84,000 – $85,000 is pivotal for the premier cryptocurrency’s future trajectory. The online pundit noted that the Bitcoin price action could go one of two ways over the next few weeks.

In the first scenario, Crypto Capo expects the price of Bitcoin to enjoy a short-lived bullish burst to within the $95,000 – $100,000 range. This initial price run-up would be a bull trap for investors, according to the analyst. For context, a bull trap is a pattern that lures long traders (bulls) into the market by an initial upward surge followed by a quick reversal.

Fittingly, Crypto Capo predicts that Bitcoin will experience a capitulation event that will see its value plummet to the next main support. As seen in the chart below, this next major support lies within the $62,000 – $69,000 bracket, containing the April and November all-time high prices.

Bitcoin price

Source: @CryptoCapo_ on X

In the alternate scenario, Crypto Capo highlighted how the first bull trap idea could be invalidated. According to the trader, if the Bitcoin price successfully closes beneath the $84,000 – $85,000 range, it could fall to the $62,000 – $69,000 bracket.

Bitcoin Price At A Glance

As of this writing, the price of Bitcoin is moving around the $83,300 level, reflecting a 3% decline in the past 24 hours. This single correction event has wiped out the premier coin’s early-week profit, with CoinGecko data showing no significant gain or loss in the last seven days.

Bitcoin price

The price of BTC slides beneath $84,000 on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image created by DALL-E, chart from TradingView

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El Salvador’s Nayib Bukele Open to White House Visit

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El Salvador’s President Nayib Bukele has hinted at an upcoming visit to US President Donald Trump at the White House. The move has fueled speculation about closer cooperation between the two pro-Bitcoin leaders.

Although no official agenda has been released, if confirmed, the meeting would mark Bukele as the first Western Hemisphere leader to visit Trump at the White House during his current term.

Can Bitcoin Improve Diplomatic Relationship Between US and El Salvador?

On March 28, Bukele reacted to a report claiming that Trump plans to invite him to Washington.

Responding on social media, Bukele confirmed his willingness to visit and jokingly noted that he would bring “several cans of Diet Coke” — a nod to Trump’s well-known beverage of choice.

The two leaders have enjoyed a friendly relationship since Trump’s return to office. They reportedly spoke after the inauguration, and Trump later thanked Bukele publicly, commending his “understanding of this horrible situation” regarding US border issues.

Meanwhile, the possible visit follows El Salvador’s acceptance of deported Venezuelan gang members from the US.

These individuals were held at the country’s high-security Terrorism Confinement Center. The facility was recently visited by US Homeland Secretary Kristi Noem.

President Bukele’s administration has earned international praise — and criticism — for its tough stance on crime. His crackdown on gangs has transformed El Salvador from one of the most violent nations in the world to one of the safest in Latin America.

Meanwhile, speculation is growing within the crypto community that Bitcoin may emerge as a significant topic during the leaders’ discussions. Both Bukele and Trump have openly supported Bitcoin, though their approaches differ slightly.

Bukele’s stance on Bitcoin is notably proactive. In 2021, he spearheaded the creation of the world’s first national Bitcoin reserve, which has since grown to 6,130.18 BTC—worth over $512 million.

El Salvador's Bitcoin Holdings.
El Salvador’s Bitcoin Holdings. Source: The Bitcoin Office

Moreover, his pro-Bitcoin initiatives have attracted substantial foreign investments, including partnerships with prominent crypto companies like Tether.

President Trump also recently became more supportive of the top crypto asset, reversing previous skepticism.

Earlier this month, Trump authorized the establishment of a US National Bitcoin Reserve, with the federal government holding initial holdings of around 200,000 BTC.

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