Tag: trade
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Dogecoin Looks Much Stronger Than Most Altcoins
Despite Dogecoin’s DOGE/USD 10% week-over-week drop, a prominent crypto trader sees a bullish chart pattern forebode stronger price performance. What Happened: Crypto trader Kevin shared his optimistic perspective on Dogecoin, highlighting the meme coin’s resilience compared to other altcoins during a prolonged market slump. On the weekly chart, he emphasized the importance of Dogecoin maintaining its position above the Macro…
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US Bitcoin ETFs Post Longest Run of Inflows as Token Nears Record
US exchange-traded funds investing directly in Bitcoin attracted net inflows for an unprecedented 18th straight day, a spurt of demand that has helped to lift the largest digital asset toward a record high. Net subscriptions for the group of almost a dozen products stood at $15.6 billion through Thursday following a Jan. 11 launch, taking…
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IRS Releases Draft Of New Crypto Tax Form Used To Report Transactions
GETTY The IRS has released a draft of Form 1099-DA, Digital Asset Proceeds From Broker Transaction. The form is the next step in the agency’s efforts to bolster crypto tax reporting and follows proposed regulations published last year. The IRS has offered a glimpse of the future of crypto reporting. The agency has released a…
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Japan’s Currency Falls To Its Weakest Since 1990 Against The Dollar As The Yen Keeps Yelping
ASSOCIATED PRESS Some of the world’s wildest action in financial markets is roiling around the Japanese yen. The value of Japan’s currency has tumbled so much that for a moment on Monday it took 160 yen to equal $1. A few years ago, it took closer to 100 yen to make a U.S. dollar. The…
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Why Spot ETFs May Be a Game Changer For Bitcoin
Getty The Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs this week could be a turning point for cryptocurrency investing. Ark Invest CEO and Chief Investment Officer Cathie Wood is behind one of the new ETFs. Her firm partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. “We really believe this is an important moment…
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All The Bitcoin on Earth Is Worth $1 Trillion Again
Chesnot/Getty Images (Getty Images) Bitcoin keeps on rising. The cryptocurrency’s price is knocking on $52,000, the highest level since June 2021. That’s enough to send its market capitalization above $1 trillion. The market has shaken off its post-FTX collapse jitters wholesale, and since then, the US government has allowed for the proliferation of spot exchange-traded funds (ETFs). Offerings from the…
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