BlackRock And
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs Shielded BTC From Massive Drops — Analyst
BlackRock And Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs Shielded BTC From Massive Drops — Analyst
by Christian Encila
3 mins ago
in Crypto News
0
BlackRock and Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs, according to Bloomberg analyst Eric Balchunas,
have consistently stopped disastrous declines in the value of the crypto.
Related Reading: Crypto Beef Up 2024 US Elections With $190 Million In
Donations
This coincides with speculations that BlackRock uses Coinbase s Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
IOUs to control the market, therefore shorting BTC and perhaps triggering
price declines.
Often blamed for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s declines, Balchunas contends that traditional
investors have actually helped to stabilize its price. According to him, many
charges result from incredulity about core Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin investors selling off their
asset.
Crypto analyst Ali Martinez showed miners offloaded over 30,000 BTC in three
days, indicating a sizable selling pressure originates within the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
community itself.
#Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miners have sold over 30,000 $BTC in the last 72 hours, worth around
$1.71 billion! pic.twitter.com/OuaiIo7QZ9
— Ali (@ali_charts) September 11, 2024
Alleged Price Suppression Role Of Coinbase
Claims have emerged that by issuing Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin IOUs, Coinbase might be helping
BlackRock to manipulate markets. Analyst Tyler Durden says BlackRock can short
BTC using these IOUs without having the real coin in a 1:1 ratio.
Durden s public data research helped him to come to the conclusion that
Coinbase s actions were important in the erratic fluctuations of BTC.
BlackRock And Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs Saved BTC Price, Bloomberg Analyst Claims
https://t.co/Pv2B3X5Ddf
— John Morgan (@johnmorganFL) September 15, 2024
Coinbase s Defense And Transparency
Coinbase CEO Brian Armstrong responded by denying BlackRock special access to
BTC borrowing rights. According to him, Coinbase settles ETF minting and
burning on-chain under frequent audits publicly.
Armstrong underlined that confidentiality agreements prevent Coinbase from
revealing crypto addresses of institutional customers. BTCUSD is now trading
at $58,677. Chart: TradingView
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin: Implications And Debates
Unverified Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin IOUs and allegations of price manipulation might erode
investor faith in BlackRock and Coinbase. But Coinbase s standing as a
regulated, audited company might help to offset bad feeling.
The dispute about Coinbase s wrapped Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin (cbBTC) draws attention to
arguments about centralized versus distributed assets. Tron founder Justin Sun
criticized cbBTC s lack of proof of deposit, audits, and ability to
freeze balances, likening it to a centralized, confiscatable
asset.
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No Special Treatment To BlackRock
Coinbase denies allegations of providing preferential Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin borrowing to
BlackRock. Armstrong reaffirmed the company s transparency and
compliance while clarifying cbBTC. As the industry grapples with
centralization concerns, Coinbase s response will shape market
sentiment.
At the time of writing, Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) is see-sawing in the $58,000 and $59,000
range. Analysts are expecting that the possible cuts on the rates by the
Federal Reserve, which is planned next week, will have a positive effect on
BTC.
Previously, such macro moves were bullish and may well give signs that can be
interpreted positively for the flagship cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта.
Featured image from PlasBit, chart from TradingView