The index has been in a state of “extreme fear” and “greed” since March of last year. Extreme fear indicates that investors are “too worried,” and could present a buying opportunity. Greed indicates the market is due for a correction and can signal a potential reversal in price. News Sorce
White House cryptocurrency ‘roadmap’ recommends against pension funds. Statement was issued the same day the Fed denied digital asset Custodia Bank membership in the Federal Reserve System. Its recommendations include expanding regulators’ powers, strengthening disclosure requirements, increasing funding for law enforcement, and following the advice of the Financial Stability Oversight Council. News Sorce
US institutions account for 85% of Bitcoin buying in ‘very positive sign’ – Matrixport’s chief strategist. The data was shared in a Jan. 27 report from Matrixport, which suggests whether a digital asset is more favorable by retail or institutional investors at any given time. The report concluded that this “should be a very positive sign for Bitcoin” as institutional adoption continues. News Sorce
Congressman French Hill to ‘make sure’ US is the place for fintech and blockchain innovation. The Financial Services Subcommittee on Digital Assets was put together on Jan. 12. Hill also wants to explore the possibility of a spot Bitcoin exchange-traded fund (ETF). Crypto trading and exchanges will need to be “overseen” by an agency, Hill said. The SEC has repeatedly rejected applications for a spot Bitcoin ETF, including one by the world’s largest crypto asset manager, Grayscale. Other areas of the subcommittee will be related to federal privacy law, a stablecoin bill and the ramifications for the securities market. News Sorce
The banking giant Goldman Sachs has ranked Bitcoin as the best-performing asset in the world this year. The maiden crypto has performed better than the likes of S&P 500, gold, real estate, and Nasdaq 100. BTC has outperformed MSCI emerging markets index, energy, information technology (IT) and many more. News Sorce
Crypto infrastructure firm QuickNode raised $60 million and reached an $800 million valuation. The company was valued at $250 million in October 2021. Dan Tapiero’s 10T Holdings led the round, with Alexis Ohanian’s Seven Seven Six joining the board. QuickNode has raised $35 million in Series A funding, valuing the company at $250 million. Quick Node’s competitor Alchemy was valued at $10.2 billion in February 2022. News Sorce
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