Bitcoin News and Finance: What You Need to Know

The U.S. Securities and Exchange Commission (SEC) has admitted that a SIM swap attack compromised its X account, where a fake announcement about the approval of spot bitcoin exchange-traded funds (ETFs) was posted. “The unauthorized party obtained control of the SEC cell phone number associated with the account in an apparent ‘SIM swap’ attack,” the regulator said. SEC Says It’s a Victim of a SIM Swap Attack The U.S. Securities and Exchange Commission (SEC) provided an update on Monday regarding the unauthorized access of its @SECGov account on social media platform X. The attack occurred on Jan. 9 and the SEC’s X account was used to post an unauthorized message claiming the agency had approved spot bitcoin exchange-traded funds (ETFs). Notably, the agency had not approved spot bitcoin ETFs at that time. The securities regulator detailed: Two days after the incident, in consultation with the SEC’s telecom carrier, the SEC determined that the unauthorized party obtained control o...

Gold bug and economist Peter Schiff has warned of deeper losses for spot bitcoin exchange-traded funds (ETFs), emphasizing that they are “now in bear markets.” Referencing the Proshares Bitcoin Strategy ETF which is down more than 50% in over two years, Schiff predicted that those who bought the newly approved spot bitcoin ETFs “will experience even worse results.” Peter Schiff’s Spot Bitcoin ETF Outlook Gold bug and crypto skeptic Peter Schiff expects deeper losses for the newly launched spot bitcoin exchange-traded funds (ETFs). He shared his outlook in several posts on social media platform X this week. The price of bitcoin rose above $47K in anticipation of the spot bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC). However, BTC embarked on a downward trajectory following the approval , dropping below $40K on Monday and $39K on Tuesday. Schiff described on Monday: All the spot bitcoin ETFs are now in bear markets, defined as a drop of 20% or more f...

Jim Cramer, the host of CNBC’s Mad Money show, has doubled down on his bearish bitcoin price outlook, predicting that the cryptocurrency will continue to struggle against the backdrop of a plummeting crypto market. “Unlikely that bitcoin finds its footing,” Cramer emphasized, after previously declaring the recent price drop a “nasty beginning” to a significant downward spiral. Jim Cramer Expects Further Bitcoin Price Drop Mad Money host Jim Cramer weighed in on the price of bitcoin on social media platform X again this week. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. Cramer wrote on X Tuesday after the price of bitcoin fell below $39K : “Now that bitcoin’s down about 20% from its high I expect a strong stand to be made but it won’t hold because not enough money is coming in. New theme: Number Go Down.” On Monday, after the price of bitcoin dropped below $40K for the first time in 48 days, the Mad Money host wrote: U...

In the dynamic world of crypto markets, recent trends have illuminated intriguing divergences in the altcoin market, particularly between ethereum and solana, relative to bitcoin. A comprehensive report published by Glassnode, an onchain analytics firm, delves into this phenomenon. Altcoin Dynamics Altered: Ethereum and Solana Lead Post-ETF Era In the latest edition of Glassnode ’s “The Week Onchain,” Alice Kohn’s research, published on Jan. 23, 2024, highlights ethereum’s ( ETH ) standout performance, marked by a notable surge in derivatives market activity, and the impressive journey of solana (SOL), especially post-bitcoin exchange-traded fund (ETF) approval. Ether has recently outshone bitcoin, recording its strongest performance since late 2022. Kohn’s report notes a surge of over 20% in ethereum’s value relative to bitcoin, coinciding with a revitalized interest in ethereum’s derivatives market. This resurgence, signaling a potential shift in capital flows, has led to incr...