Billionaire investor Mark Cuban has sold most of his Bitcoin holdings after the cryptocurrency failed to act as a hedge during a period of dollar weakness and geopolitical tension, unlike gold which surged. Cuban criticized Bitcoin for not fulfilling its 'digital gold' promise, as it dropped nearly 40% while gold rose amid the Iran conflict. He is now pivoting to Ethereum, valuing its utility and smart contract capabilities over Bitcoin's store-of-value narrative. This move signals a potential shift in investor confidence away from Bitcoin's hedge narrative, which could impact institutional demand.
Deribit's Bitcoin options open interest reached $31.3 billion on May 21, overtaking BlackRock's IBIT at $27 billion. Ahead of a $6.25 billion options expiry on May 29, the market shows a modestly bullish put/call ratio of 0.86, with a key max pain pr...
Cryptocurrency markets exhibit varied price changes, with Bitcoin trading around $77,732, up 0.35%, and Ethereum at $2,139.91, up 0.20%. Several altcoins show significant gains, including HYPE rising 13.7%, NEAR up 9.19%, and SUI increasing 6.74%. Th...
Billionaire investor Mark Cuban has sold most of his bitcoin holdings after concluding that bitcoin did not perform as a hedge against a weakening dollar and geopolitical instability, particularly during the recent Iran conflict. Cuban noted that whi...
Cryptocurrency markets display varied price changes, with Bitcoin trading around $77,818, slightly up by 0.41%. Ethereum and Binance Coin also see modest increases, while some altcoins like HYPE and SUI experience significant gains of over 6%. These ...
Bitcoin failed to maintain the $78,000 level on May 21, falling to just above $77,000 and erasing recent gains. This decline was driven by persistent outflows from spot bitcoin ETFs and a 0.3% price drop that triggered $44.3 million in liquidations. ...
