Latest news with #JeffDorman
Yahoo
15-07-2025
- Business
- Yahoo
Bitcoin Market Top Is 'Nowhere Near,' Say Analysts as Price Pauses at $120K
Bitcoin BTC cooled off during U.S. trading hours Monday after nearly topping $123,000 earlier in the session, but market top calls are premature, analysts said. BTC slipped below $120,000 late in the U.S. day, shedding most of its overnight advance, but holding on to a modest 0.6% gain over the past 24 hours. Ethereum's ether ETH slid back below $3,000, while dogecoin DOGE, Cardano's ADA ADA and Stellar's XLM XLM declined around 2%-3% on the day. Among majors, XRP XRP, SUI SUI and Uniswap's UNI UNI outperformed with 2.5%, 10% and 6% gains, respectively. Crypto-linked stocks also retraced some of their morning gains, with Strategy (MSTR) and Galaxy (GLXY) still higher 3%-4%, while Coinbase (COIN) gained 1.5% After BTC surged over 10% in less than a week and some altcoins advancing much more, prices may consolidate as some traders digest the move and realize profits. Still, this leg of the crypto rally is more likely in the early phases than towards the end, said Jeff Dorman, CIO of digital asset investment firm Arca. In a Monday investor note, he cited crypto analyst Will Clemente's observation about previous major tops like March 2024's spot bitcoin ETF-related peak and the Dec 2024/Jan 2025 frenzy surrounding the Trump election/inauguration, when open interest in altcoin derivatives flipped that of BTC "The current rally is nowhere near that," Dorman said. Volumes on both centralized and decentralized exchanges rose 23% week-over-week, but still aren't near to the levels during other broad-market rallies in the past, Dorman added. Looking at the big picture, bitcoin is being propelled higher by excessive sovereign debt and investors seeking refuge from monetary inflation, said Eric Demuth, CEO of Europe-based crypto exchange Bitpanda. He said BTC rising to €200,000 ($233,000), is "certainly a possibility," but the underlying adoption of the asset carries more importance than price targets. "What happens when Bitcoin becomes permanently embedded in the portfolios of major investors, in the reserves of sovereign states, and in the infrastructure of global banks?," he said. "Because that's exactly what's happening right now." In the next years, Dermuth expect bitcoin's market capitalization to gradually converge to gold's, currently sitting at over $22 trillion, nine times larger than BTC.
Yahoo
04-07-2025
- Business
- Yahoo
The Bitcoin Power Shift No One's Talking About
Bitcoin (BTC-USD) could be entering a new chapterone that looks a lot less like a high-octane trade and more like a steady institutional asset. Over the past year, longtime holdersminers, offshore funds, and early anonymous whaleshave quietly sold over 500,000 coins, according to 10x Research. Meanwhile, institutions like ETFs, corporates, and asset managers have absorbed nearly 900,000 coins. This silent handover is reshaping the $2.1 trillion market's ownership base, with Bitcoin stuck near $110,000 as volatility fades and institutional allocation grows. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Today, ETFs and treasury allocators now control about 25% of all circulating Bitcoin. Back in 2020, just 2% of wallets held 95% of the supply. That concentration is breaking down fast. Some of the older whales aren't just sellingthey're converting BTC into equity through private transactions tied to the public markets. The result? A less explosive asset, but potentially more resilient. Metrics like Deribit's volatility index have dropped to multi-year lows, and analysts are tempering expectations to 10%20% annual returnsdown sharply from the parabolic runs of past cycles. Bitcoin is probably more like boring dividend stock over time, said Arca CIO Jeff Dorman, suggesting it could become a staple for longer-term portfolios. Still, this transformation comes with risks. Hilary Allen, a long-time crypto critic, notes this institutional rush may be providing the exit liquidity whales have waited years forleaving retail and retirement investors more exposed if inflows slow. Past outflows of just 2% and 9% in 2018 and 2022 triggered 74% and 64% drawdowns, respectively. That said, not everyone sees a repeat. MARA Holdings (NASDAQ:MARA) CEO Fred Thiel believes we're in a very different market environment nowone where this slow grind toward institutional maturity could play out over years, not months. Markus Thielen at 10x agrees: The nature of Bitcoin really changes. This article first appeared on GuruFocus. Sign in to access your portfolio
Arabian Post
04-07-2025
- Business
- Arabian Post
Stock market information for Bitcoin
Bitcoin is a crypto in the CRYPTO market. The price is 107761.0 USD currently with a change of -1627.00 USD from the previous close. The intraday high is 110000.0 USD and the intraday low is 107741.0 USD. Whale Exodus, Institutional Surge Define Bitcoin Landscape A profound shift in Bitcoin ownership is underway as early large holders—or 'whales'—have offloaded more than 500,000 BTC over the past year, while institutions such as spot ETFs, corporate treasuries and asset managers have collectively swooped up nearly 900,000 BTC. That haul now places institutional ownership at roughly 4.8 million BTC, equivalent to 25% of the total ~20 million supply. ADVERTISEMENT This reshaping of ownership has already led to a marked decrease in price volatility. Deribit's 30-day BTC Volatility Index sits at its lowest point in around two years, a trend noted by industry figures such as DRW's Rob Strebel and Arca's Jeff Dorman, who have characterised Bitcoin's market as transitioning from a speculative instrument to 'slow‑burn' portfolio allocation. As a result, analysts are revising expectations downward, now forecasting restrained annual returns in the region of 10–20%, rather than expecting sharp bull‑run surges. The price has stabilised around US $110,000, reflecting the dampening effect of institutional inflows against whale outflows. However, experts caution that this equilibrium may be fragile: if whales continue to sell and institutional inflows cool, Bitcoin could become vulnerable to abrupt corrections, echoing past events when relatively modest outflows of 2% in 2018 and 9% in 2022 triggered collapses of 74% and 64% respectively. The implications of this structural change extend beyond price mechanics. When whales use institutional venues as an exit route—via ETF conversions or corporate treasuries—they secure liquidity that can facilitate large-scale unwinds without triggering immediate volatility. Critics like Hilary Allen argue this may leave smaller stakeholders exposed in the event of a broader downturn. Regulatory evolution has played a pivotal role. The introduction of U. S. spot BTC ETFs in January 2024 and subsequent inflows have legitimised institutional participation, with major asset managers—BlackRock, Fidelity and MicroStrategy among them—establishing significant positions, enhancing market depth and resilience. Interlinked macroeconomic conditions have further shaped trends. A weaker U. S. dollar, increased money supply, rising equity markets and higher mining costs—due to energy pricing—have slowed new issuance, tilting supply‑demand dynamics in Bitcoin's favour and reinforcing institutional demand. Nonetheless, the transformation is not without nuance. The repricing of Bitcoin—as volatility subsides—could dampen the appeal among short‑term traders and retail participants who previously thrived on speculative swings. Meanwhile, institutional models of 'faster money' mean that large‑scale monthly or quarterly rebalancing could trigger intermittent volatility spikes. Market observers are now closely monitoring whale behavioural patterns and ETF flow data to gauge whether institutional appetite will sustain. Markus Thielen from 10x Research suggests this transition could define Bitcoin's identity for years, positioning it for steady, long‑term growth at 10–20% annually—but warns that the absence of new inflows may precipitate sharp market corrections.
Yahoo
05-03-2025
- Business
- Yahoo
Crypto ‘Alt Season' May Disappear for Good in Marketwide Slump
(Bloomberg) -- One of the more dependable trading patterns in crypto appears to have become less reliable during the swift drawdown from the all-time highs reached amid the exuberance around the re-election of Donald Trump. How Upzoning in Cambridge Broke the YIMBY Mold Remembering the Landscape Architect Who Embraced the City NYC's Finances Are Sinking With Gauge Falling to 11-Year Low US Tent Facility is Holding Migrant Families Longer Than Recommended Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' In the past, smaller, lesser-known tokens that were commonly referred to as altcoins tended to outperform market leader Bitcoin toward the end of crypto rallies as speculators sought to profit from their higher volatility, in what traders called 'alt season.' That's changed this cycle, with cryptocurrencies like Solana and Dogecoin more closely mirroring the moves in Bitcoin, which still accounts for around 60% of the value of the estimated $2.7 trillion crypto market. 'We used the term when the digital assets industry was just getting started,' said Jeff Dorman, chief investment officer at Arca. 'Alt season happened once or twice in the past, but that doesn't mean that it will continue to be an event.' During the 2021 bull market, Bitcoin rallied, and then a slew of alt coins followed suit as a second wave. This time, Bitcoin and the other coins have been moving in tandem, and crashed at the same time. Bitcoin is down as much as 28% since its peak in January. Solana and Dogecoin, which are more volatile, are down more than 50% from their recent highs. That's even with the short-lived crypto rally over the weekend, when Trump said in a posting on his Truth Social platform that his January executive order on crypto 'directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.' After surging 23% on Sunday on the announcement, Solana had erased all the gains by early Tuesday. Bitcoin slumped around 2% to $83,634 as of 12:09 p.m. in New York. Solana was 2% lower, while Dogecoin slipped 1.2%. XRP and Cardano were both little changed. Traders are concerned about macro economic trends, involving tariffs that kicked off this week and inflation. Recent scandals including the Libra memecoin and the massive hack of the Bybit crypto exchange have added to the uneasiness. 'Right now, this is more typical to what we saw in 2018, 2019, 2020, when the entire market would move together,' Sadie Raney, chief executive officer of EVE Wealth, a yet-to-be launched platform for female digital-asset investors, said in an interview. 'It used to be, you only needed to watch Bitcoin price, because everything moved together. What we are seeing right now is just a broader overall sentiment shift, where people are a little bit concerned about all aspects of the market.' The launch of Bitcoin exchange-traded funds in the US a year ago created a gulf between the world's biggest digital currency and other tokens, said Cosmo Jiang, a general partner at Pantera Capital. Most other coins remained unaccessible through brokerage accounts, 'and the more that happens, the more it builds on itself, because these are momentum assets,' he said. Bitcoin ETFs were hit by a record $3.3 billion in outflows last month. Even so, the Securities and Exchange Commission is expected to approve ETFs for a slew of other cryptocurrencies later this year, making these coins more accessible to casual traders. But just as with Ether ETFs that were approved mid-last year, demand risks falling short of expectations for the funds. And that may suggest that the notion of 'alt season' could be gone for good. Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? The Mysterious Billionaire Behind the World's Most Popular Vapes Snack Makers Are Removing Fake Colors From Processed Foods Trump's SALT Tax Promise Hinges on an Obscure Loophole The US Is Withdrawing From Global Health at a Dangerous Time ©2025 Bloomberg L.P. Sign in to access your portfolio
Express Tribune
25-02-2025
- Business
- Express Tribune
Crypto market tumbles as bitcoin drops 6%, ether plunges 11% to lows
Listen to article The cryptocurrency market tumbled on with Bitcoin and Ether hitting multi-month lows, as a broader cross-market sell-off and concerns over last week's $1.5 billion Bybit hack continued to weigh on investor sentiment. Bitcoin and Ether slide to multi-month lows Bitcoin, the world's largest cryptocurrency by market value, dropped as much as 6%, falling to $88,245, its lowest level since November and the first time it has slipped below $90,000 since mid-January. Ether, the second-largest cryptocurrency, saw an even sharper decline, plunging as much as 11% to $2,333, marking its lowest price since October. Altcoins struggle as weak sentiment and scandals mount Alongside Bitcoin and Ether, major altcoins such as Solana and Dogecoin also faced heavy losses. Solana dropped 15%, while Dogecoin declined 13%, reflecting a broader risk-off sentiment in the digital asset market. "Crypto is just weak and has been for eight weeks," said Jeff Dorman, Chief Investment Officer at Arca. "Equities, fixed income, and gold have shrugged off negative data, but only crypto keeps falling. Poor sentiment, memecoin scandals, and lack of capital for new token launches are driving this weakness." Since mid-December, most altcoins have lost between 30% and 80% of their value, according to Arca. Solana faces added pressure from token unlock Solana has seen particularly steep losses, losing around $50 billion in market value over the past month. The decline was partially triggered by a controversy involving Argentina's President Javier Milei and a memecoin called Libra, which collapsed in value. Adding to the selling pressure, $1.72 billion worth of SOL is set to be unlocked on March 1, according to research firm Messari. "With continued token unlocks and increased supply, many investors are selling," said Edward Chin, co-founder of Parataxis Capital. "Most traders are already fully invested in altcoins, and any new capital is flowing into Bitcoin. This explains Bitcoin's relative strength and continued market dominance. Without a strong narrative in the altcoin sector, we could see further declines." Bybit fack fallout still weighs on market Ether remains under pressure even as Bybit pledged to fully replenish the estimated $1.5 billion lost to hackers. The Dubai-based exchange reportedly borrowed Ether and appears to have purchased additional tokens to cover the loss, according to a repost on X from Bybit CEO Ben Zhou. Crypto stocks decline alongside market sell-off The broader cryptocurrency downturn also hit crypto-related stocks. Coinbase Global Inc. closed lower for the sixth consecutive day. MicroStrategy fell 5.7%, turning negative for the year. Bitcoin miner MARA Holdings Inc. declined 5.3% on Monday, after dropping 13% last week. Market outlook remains uncertain With ongoing market volatility, token unlocks, and weak investor sentiment, analysts suggest that altcoins may continue to bleed until a new catalyst emerges.
