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Futu Securities launches Bitcoin and Ethereum trading in Hong Kong with zero fees. New users can receive incentives like Bitcoin or shares of Alibaba and Nvidia. Futu seeks a crypto exchange license for PantherTrade amid Hong Kong’s crypto hurdles. Futu Securities International, Hong Kong’s largest online broker , has introduced retail cryptocurrency trading in the city, marking a significant advancement in its financial services. The broker age firm, known for its extensive reach and innovative offerings, now allows residents to trade Bitcoin and Ethereum on its platform. This initiative comes after a partnership with HashKey Exchange, one of only two licensed cryptocurrency exchanges in Hong Kong. Bonuses and waived crypto trading fees The launch comes with enticing bonuses. New account holders who deposit HK$10,000 (approximately $1,280) for 60 days can receive either HK$600 worth of Bitcoin, a HK$400 supermarket voucher, or a share of Al...

Bitcoin price dropped to its lowest level since mid-July with a dip to near $62k on August 1. Stocks also plummeted as investors reacted to latest economic data and geopolitical tensions in the Middle East. Bitcoin price crashed 10% to trade to near $62k on Thursday as August began on a painful footing for crypto currencies and stock s. On August 1, the global cryptocurrency market cap fell to $2.3 trillion amid an overall 5.7% dump. BTC fell to lows of $62,300 across major crypto exchanges. The declines also hit Ethereum, which traded to lows of $3k and Solana that retreated sharply to touch $160. XRP, Dogecoin and Pepe also experienced sharp declines. Why did Bitcoin, crypto prices fall today? Losses across the crypto market came as the stock market nosedived, with the Dow Jones Industrial Average shedding more than 600 points and the S&P 500 falling 1.5%. According to CNBC, the bloodbath across stock s follows fresh investor jitters around possibl...

Bitcoin ETF inflows surge, threatening gold’s dominance. Divergence in fund flows: Bitcoin gains, gold loses. Bitcoin acts as a ‘risk-on’ investment and a safe-haven asset. In a seismic shift within the financial landscape, Bitcoin is rapidly gaining ground as a store- of-value asset, challenging its traditional counterpart, gold . Recent data reveals a substantial surge in spot Bitcoin ETF in flows , particularly in the United States, setting the stage for a potential challenge to gold ’s historical dominance. This shift not only signals a changing tide in investment preferences but also prompts speculation about Bitcoin’s long-term disruptive potential. Bitcoin ETFs vs gold: the growing divergence The past week has witnessed an impressive surge in spot Bitcoin ETF inflows, culminating in a near 10% increase in Bitcoin’s price. Notably, the lion’s share of these new investments is pouring into US-based ETFs, refle...

Bitcoin’s trajectory recently experienced a notable upswing, breaking past the resi stance benchmarks at $26,500 and $26,700. The CRYPTOCURRENCY trades beyond $26,700, surpassing the 100 hourly Simple moving average. This progression is indicative of a bullish momentum, further underlined by a prominent bullish trend line on the BTC /USD hourly chart with foundational support nearing $26,800, as data from Kraken demonstrates. Moreover, the BTC rally showcased its might by pushing past the $27,200 barrier, with the price peak settling at approximately $27,312. While there has been some price consolidation post this surge, a minor retracement under the 23.6% Fib level from the rise of $26,100 to $27,312 was observed. With Bitcoin maintaining its position above the 100 hourly Simple moving average and $26,700, coupled with the bullish trend line’s support close to $26,800, the immediate resistance to watch is around the $27,200 mark. Successive resistance might be encounte...

Bitcoin’s Tug of War: $26,700 Resistance vs. $26,000 Support; Bitcoin continues to wrestle with key resistance levels . The virtual currency has yet to break past the $26,500 and $26,700 barriers. However, it’s evident from the BTC/USD hourly chart data (sourced from Kraken) that the price holds ground above the $26,200 mark and the 100 hourly Simple Moving Average. Additionally, an emerging bullish trend line, with its backbone support pegged near $26,200, offers a glimmer of hope for crypto enthusiasts. Following a commendable recovery attempt from the critical $26,000 support zone, Bitcoin did manage to leapfrog the $26,350 and $26,500 resistance points. Moreover, there was a brief moment when the CRYPTOCURRENCY even touched the $26,700 level. Yet, bears weren’t to be outdone. Consequently, a robust rejection pattern formed near $26,818, pushing the price to retract below $26,500. Besides the bullish trend line, current dynamics suggest that Bitcoin’s valu...

Bitcoin rose to $26,820 on Wednesday, trading in the opposite direction to stocks as the Dollar Index hit a 10-month high. An easing for the DXY could see Bitcoin price strengthen above the $26k base. Bitcoin (BTC) defied a surge for the Dollar Index (DXY) on Wednesday, spiking to above $26,820 in early US trading hours. The gains for the benchmark cryptocurrency buoyed the altcoin market, with several tokens seeing decent moves to push the total market cap up by about 1.5%. But as the DXY, which measures the greenback’s strength against a basket of other major currencies, hit highs of 106.83 for its highest level since November 2022, stock s moved lower. Alongside the dollar’s strength has been rising yields, with the benchmark 10-year US Treasury yield soaring to a 16-year high of 4.64%. The two-year US yield rose to 5.15% It’s a scenario that sees the stock market compound weakness seen over the past week, including Tuesday’s Dow s...

Source: A video screenshot, Youtube/Bitcoin Magazine Michael Saylor, the co-founder and former CEO of MicroStrategy, has addressed Charlie Munger's criticism of Bitcoin, claiming that he hasn’t taken the time to understand Bitcoin.  In a Friday interview with CNBC, Saylor said he is "sympathetic" to Munger's criticism of the broader crypto market, noting that thousands of altcoins are little more than avenues for "gambling." However, he argued that Warren Buffett’s right-hand man would have had a different idea about Bitcoin if he studied it.  “If he was a business leader in South America or Africa or Asia and he spent a 100 hours studying the problem, he’d be more bullish on bitcoin than I am,” Saylor explained, adding: “The Western elites have not had the time to study … but I’ve never really met someone with an incentive living in the rest of the world that spent some time thinking about it that ...