Crypto Lobby Forms to Shake Reputation as Criminals’ Currency

By Joe Light

Even as cryptocurrencies steadily gain support on Wall Street, they’re still regarded by regulators as a tool for criminals to conceal shady transactions — posing a challenge to the nascent industry as it seeks to win wider respect.

That’s creating a potentially lucrative opportunity for new groups in Washington advocating for digital currencies. Some prominent crypto lobbying organizations say they’ve increased their membership and raised millions of dollars to help improve the industry’s image.

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Options Market Shows Call Bias as Bitcoin Prepares for New Price High

By Omkar Godbole

Options skew, which measures the difference between the call implied volatility and put implied volatility for all options, is creeping up, as tweeted by the options analytics platform Genesis Volatility.

In plain English, that call options are again drawing greater demand or premium than puts in a sign of bullish bias.

Implied volatility refers to investors’ expectations for price turbulence over a specific period and positively impacts the option’s price. Hence, an uptick in the call-put implied volatility spread is considered a sign of bullish positioning.

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Don’t Count on Bitcoin to Be a Sure-Thing Inflation Hedge

By Vildana Hajric

Hardcore Bitcoin enthusiasts say the digital coin is the world’s best hedge against rising consumer prices. The logic: Unlike U.S. dollars or any other normal currency, it’s designed to have a limited supply, so it can’t be devalued by a government or a central bank distributing too much of it.

Almost every bull case on Bitcoin has looked prescient lately—the cryptocurrency is trading at around $57,000 a coin, up from about $5,000 a year ago—so that’s added some buzz to this inflation story. With the economic outlook perking up, Covid-19 cases falling, and greater amounts of fiscal stimulus on the horizon, investors in all kinds of assets seem to expect a bit of a rise in prices. But that’s coming from a very modest base. Over the past year, the inflation rate in the U.S. has been 1.7%.

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Bitcoin Price Prediction: How Far Could The Bitcoin Bull Run Go?

By Billy Bambrough

Bitcoin has surged to never-before-seen highs over recent weeks, breaking through to levels that seemed unimaginable just a few months ago.

The bitcoin price climbed to almost $60,000 per bitcoin earlier this month before falling back to trade at around $50,000 after Tesla TSLA +6.2% chief executive Elon Musk warned it “seemed high.”

As bitcoin’s mammoth bull run rolls on, some—including MicroStrategy MSTR +18.3% CEO and major bitcoin-buyer Michael Saylor—have said they expect the bitcoin price to climb far higher.

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Bitcoin Smashes Through $50,000 Price As Bull Run Suddenly Accelerates

By Billy Bambrough

Bitcoin, after taking a week-long breather in its blistering 2021 bull run, has suddenly shot higher.

The bitcoin price briefly climbed past the closely-watched $50,000 per bitcoin level for the first time late on Monday evening, hitting $50,110 on the San Francisco-based exchange Coinbase and $50,240 on the Singapore-based crypto derivatives exchange Bybit before falling back.

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Bitcoin Holders Have Now Stashed Away 15% of Circulating Supply

By Omkar Godbole

Long-term investors continue to hoard bitcoin, sucking up market supply and helping the cryptocurrency maintain its broader upward trajectory.

Data provided by Glassnode shows the total balance of bitcoin held in “accumulation addresses” rose to a 3.5-year high of 2,851,608 BTC on Tuesday. That amounts to 15.32% of the total circulating supply of 18,618,081 BTC. The number stood slightly below 14% three months ago.

Accumulation addresses are those that have at least two incoming non-dust transfers (tiny amounts of bitcoin) and have never spent funds. The metric excludes addresses active more than seven years ago to adjust for lost coins and those belonging to miners and exchanges.

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Bitcoin price dives back under $16,900 as whale deposits spike again

By JOSEPH YOUNG

The price of Bitcoin (BTC) dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase.

Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections.

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Iran Adopts Bitcoin for International Trade Amid Heavy Sanctions, Falling Rial, Soaring Inflation

By Kevin Helms

Iran is undergoing a severe economic crisis as Covid-19 cases surge in the country. The Iranian health ministry says that the number of daily Covid-19 infections has more than quadrupled in less than two months. In addition, an increasing number of sanctions have been placed on Iran by the U.S. government, while the local fiat currency, the rial, continues to dramatically fall.

Steve H. Hanke, Professor of Applied Economics at Johns Hopkins University and a hyperinflation expert, described the situation in Iran as “a classic death spiral.” He detailed on Wednesday:

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