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Michael Shaulov believes that while recent Bitcoin ETF filings could see new institutional money flow to Bitcoin, that in itself didn't drive previous price surges. While an approved BlackRock spot Bitcoin (BTC) exchange-traded fund (ETF) will funnel new institutional money to Bitcoin, it's going to be the retail investors that ultimately drive any significant price surges, according to Michael Shaulov, the CEO and co-founder of institutional custody platform Fireblocks. On June 15, investment colossus BlackRock filed for a spot Bitcoin ETF, leading to other financial firms filing their own, along with Bitcoin's price reaching its highest levels in a year. However, while many are hopeful that institutional involvement in crypto will further rocket price s, Shaulov notes that may not necessarily happen. "When institutions come in to participate in the market and they're doing it in a quiet way, they're able to do it almost without moving the price," Sha...

BTC price action offers little relief to Bitcoin bulls despite U.S. macro data releases showing inflation subsiding. Bitcoin (BTC) headed toward $27,000 after the May 11 Wall Street open as bulls failed to show strength. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price "rolls over" after brief recovery Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked a further loss of support. After a modest recovery from local lows seen the day prior, the pair remained weak, even as new United States macro data offered bullish cues. “Dump was retraced but then price quickly rolled over again,” popular trader Daan Crypto Trades summarized. “We're still trading at the range lows and until broken I think shorts aren't great R:R. Bulls need to show strength by retaking the daily open for me to consider a possible reversal scenario.” As Cointelegraph reported earlier, market participants continued to prepare downside targets, with ma...

Regulatory uncertainty and the recent enforcement actions taken against major crypto exchanges reduces the odds of Bitcoin breaking above $30,000 in the short-term, but investors are still bullish. Bitcoin (BTC) might have shown strength after successfully defending the $28,000 support amid unfounded rumors regarding Binance, but an interesting development to note is BTC is becoming less correlated to traditional Markets after the U.S. Federal Reserve elected to provide emergency liquidity to banks.  This change in attitude from the central bank has caused a shift in the trajectory of US Treasuries as traders sought refuge from the inflationary upward pressure. Bitcoin appears to be agnostic to the movement and its price has been hovering around $28,000 for the past week. Meanwhile, the yield on the 5-year note fell to 3.50% on April 3, a drop from 3.70% in the previous week. Higher demand for debt instruments reduces payout, resulting in a lower yield. The $152.6 billion in outstand...

Bitcoin sees swift fluctuations after the Fed hikes 0.25% but Chair Jerome Powell hints that policy may now change. Bitcoin (BTC) saw heavy volatility on March 22 as the United States Federal Reserve hinted that it may stop interest rate hikes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell on rates: "'May' and 'some' instead of 'ongoing'" Data from Cointelegraph Markets Pro and TradingView showed sharp moves both up and down for BTC/USD as the Fed hiked by an anticipated 25 basis points. During an ongoing press conference, Fed Chair Jerome Powell appeared to play down the ongoing U.S. banking crisis and its aftermath, while hinting that the day's interest rate hike may be the last. Powell said in prepared remarks the Fed believes that "events in the banking system over the past two weeks are likely to result in tighter credit conditions for households and businesses, which would in turn affect economic outcomes." ...

Bitcoin charges above the $17,000 mark but misgivings remain among traders ahead of CPI, Fed comments and amid a brewing storm at Digital Currency Group. Bitcoin (BTC) starts a new week on a promising footing with BTC price action near one-month highs — can it last? In a new year’s boost to bulls, BTC/USD is currently surfing levels not seen since mid-December, with the weekly close providing cause for optimism. The move precedes a conspicuous macroeconomic week for crypto markets, with the December 2022 Consumer Price Index (CPI) print due from the United States. Jerome Powell, Chair of the Federal Reserve, will also deliver a speech on the economy, with inflation on everyone’s radar. Inside the crypto sphere, FTX contagion continues, with Digital Currency Group (DCG) at odds with institutional clients over its handling of solvency problems at subsidiary Genesis Trading. At the same time, under the hood, Bitcoin still shows signs of recovery from the FTX turmoil, with miners among th...