DeFi News Official TheBitTimes.com

In a recent Twitter Space session, Binance CEO Changpeng Zhao, CZ, predict ed the upcoming bitcoin bull market. During the ask-me-anything session on July 5, CZ addressed various topics, including BlackRock’s entry into the cryptocurrency market, regulatory actions against Binance, and his forecast for the upcoming bull run. https://t.co/OENe6Ul4ag — Binance (@binance) July 5, 2023 He noted that bitcoin tends to follow four-year cycles and highlighted the significance of the next Bitcoin halving event in 2024. While CZ acknowledged that he couldn’t predict the future with certainty, he anticipated that the next bull market would start around 2025. CZ also commented on BlackRock’s entry into the spot Bitcoin exchange-traded fund (ETF) space. He viewed this development as highly beneficial for the crypto industry. Despite concerns about the compatibility of traditional finance companies with Bitcoin’s decentralized nature, CZ downplayed the risk of ...

Bitcoin (BTC) recently broke above the $28,000 mark after 12 days. CryptoQuant attributes this upsurge to the derivatives market rather than the traditional spot exchanges.  The CryptoQuant report highlighted some key factors that likely propelled this price rally. The report further calls for caution amid the growing FOMO (fear of missing out) creeping into the market. The recent $BTC rally was driven by Derivatives Exchanges, not Spot Exchanges "There is a tendency for prices to change significantly even with small trading volumes because the overall liquidity in the cryptocurrency market has decreased." by @mac_d46035 Link… pic.twitter.com/7dNkioAP0B — CryptoQuant.com (@cryptoquant_com) August 30, 2023 Interestingly, a comparison of the trading volumes of spot and derivatives exchanges indicates a decrease in the role of spot exchanges in driving the price up. This suggests that the surge in BTC price yesterday was not primarily driven by spot exchanges, per t...