In this week’s newsletter:
- Morgan Stanley CEO says that Bitcoin is not a fad and crypto is not going away.
- Bitcoin has been on the rise but it does not look like retail traders are driving the action.
- Institutional investors piled $225 million into Bitcoin products, while Ether products saw outflows of $13.6 million this past week.
Read our weekly round up below.
Bitcoin.com: October 14, 2021
The chief executive officer of global investment bank Morgan Stanley says that cryptocurrency, including bitcoin, is not a fad. Noting that they are not going to go away, he said: “We’re watchful of it, we’re respectful, and we’ll wait and see how the regulators handle it.”
The Block: October 12, 2021
Bitcoin has been on a tear, but it doesn’t look like retail traders are driving the action, according to data from market making firm B2C2. The firm, which has begun circulating a new weekly note to clients with analysis of the market, said overall the market has recently been “moderately biased to the buy-side.”
Tipranks: October 13, 2021
BTC prices have demonstrated a massive recovery of more than 90% since prices dipped to $29,856 on July 20. The flagship digital currency rallied past resistance at $57,000 resistance on October 11, reaching its highest level in five months.
CoinTelegraph: October 12, 2021
According to CoinShares’ Tuesday “Digital Asset Fund Flows Weekly” report, more than $226 million in capital flowed to institutional Bitcoin products this past week. Bitcoin products dominated inflows for the third consecutive week, posting a week-over-week increase of 227%.
BNN Bloomberg: October 15, 2021
The world’s largest digital currency rose about 3 per cent to more than US$59,000 on Friday — taking this month’s rally to over 35 per cent — after Bloomberg News reported the U.S. Securities and Exchange Commission looks poised to allow the country’s first futures-based cryptocurrency ETF.
CNBC: October 13, 2021
When asked what cryptocurrency he’d suggest for beginners or new investors in the space, Cuban explained how he views many of the most popular digital coins. “As an investment, I think ethereum has the most upside,” Cuban tells CNBC Make It. And bitcoin is “better gold than gold.”
Decrypt: October 6, 2021
Twin Flames, an Ethereum NFT photography series by Justin Aversano, is in hot demand. One of the NFTs will be auctioned by Christie’s on Wednesday. Aversano is now building an NFT platform for other photographers.
Coindesk: October 11, 2021
ConsenSys, a blockchain software company that develops and invests in Ethereum-based projects, is in talks about a funding round that would value the Brooklyn, New York-based company at $3 billion, according to three people familiar with the discussions.