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Robert Kiyosaki, famed investor and author of the bestselling personal finance book ‘Rich Dad Poor Dad ’, has put forward an optimistic view of Bitcoin (BTC), despite the recent pullback. On February 25, BTC saw a sharp 7% decline, down to $87,000 — a price point last seen in November of 2024. Prices subsequently dropped to $85,810 a day later, following record exchange-traded fund (ETF) outflows to the tune of $940 million. At press time, BTC was trading at a price of $86,310 — having marked an 11.39% drop on the weekly chart that has brought year-to-date (YTD) losses up to 8.12%. Picks for you Cronos introduces new prepaid card withdrawal Features 2 hours ago Stacks’ sBTC token sees increasing adoption by institutional clients ...

Following the recent rally that has pushed Bitcoin (BTC) back above the psychologically important level at $70,000 and near the resistance that could catapult it further up, economist and Bitcoin skeptic Peter Schiff has retained his skepticism around the maiden cryptocurrency. As it happens, Schiff said that the goal of Bitcoin’s recent “overnight” pump fthat has followed gold’s rally to new all-time highs (ATHs) was to “ sucker [exchange-traded fund (ETF)] investors into buying the gap up,” telling his followers to “get ready for the dump,” in his X post on April 8. It looks like #Bitcoin got pump up overnight following the #gold rally to new record highs, to sucker ETF investors into buying the gap up. Get ready for the dump. — Peter Schiff (@PeterSchiff) April 8, 2024 Commenting on the American economist’s post, crypto journalist Willy Woo made a counter-argument, stating that it wasn’t a pump, but in fact, that the flagship decentralized finance (DeFi) asset was f...

Chris Burniske, a partner at Placeholder, a venture capital firm specializing in crypto, recently provided perspectives on the present condition and future path of the cryptocurrency market. If the price of BTC falls to “the mid-to-high 20s,” or within the $20,000 range, Burniske says he wouldn’t be surprised. Cautious optimism On the social media platform X, Burniske shared a comprehensive Analysis of the market’s direction, highlighting key points as Bitcoin hovered around the $40,000 level. Burniske foresees consolidation and decline driven by complex factors such as crypto-specific elements, macroeconomic conditions, adoption rates, and new product development.  Observing a sense of denial in the market, Burniske likens it to partiers yet to sober up, emphasizing an impending period of reckoning. Predicting Bitcoin to drop to at least $30,000 before potentially testing mid-to-high $20K levels, he warns of a volatile recovery path with possible marke...

Financial market investors are increasingly turning to risk-defined derivative instruments, as evidenced by the surge in demand for bitcoin options contracts , with open interest nearing its all-time high. On-chain data reveals distinct bitcoin market signatures According to Glassnode, an on-chain data provider, the demand for bitcoin (BTC) options contracts has witnessed a remarkable surge, with open interest reaching $13.8 billion, coming close to its all-time high of $15.1 billion.  This remarkable increase suggests investors actively seek risk-defined derivative instruments to expand their investment exposure . On-chain data is crucial in analyzing market sentiment and trends within the cryptocurrency space.  #Bitcoin Options Contracts have experienced an increase in demand as Open Interest recently soared to a value of $13.8B, just $1.3B shy of the ATH of $15.1B. This suggests market investors are increasing their exposure to risk-defined derivative instruments. pic.t...

Market analyst Charles Edwards says that while there are good reasons to exercise caution, investors’ risk off sentiments and expectation of a recession could be overblown. The U.S. stock market approaches a crucial turning point as uncertainty over inflation rises after hotter-than-expected economic data released in February. Despite mounting investor worries, the economy is showing signs of resilience that could protect against a significant downside move.  The escalating risk-off sentiment in the market is also creating volatility for Bitcoin (BTC). The leading crypto asset, which has had a strong correlation with the U.S. stock market, moved oppositely to the stock market in February. The correction between BTC and Nasdaq turned negative for the first time in two years. However, with the crypto bulls pausing at the $25,200 level, the risks of a downturn alongside stocks are increasing. While there’s certainly a reason to maintain caution until the release of new economic data and ...