Galaxy Digital CEO Mike Novogratz thinks Bitcoin’s price action is in for a lengthy sleeper period until the market “narrative” can rear its head. That narrative can come in one of two forms: either the central bank cuts interest rates, or regulators clear the air on crypto. Bitcoin Needs A New Narrative During a company...Read More
Crypto markets remained flat over the weekend following a fall last week, dropping total capitalization to $2.38 trillion. This week’s economic calendar could induce more volatility as key inflation data is reported alongside a number of Federal Reserve speeches, which could indicate the direction of monetary policy going forward. Economic Calendar Tuesday will see the...Read More
The Bitcoin kimchi premium in South Korea has plummeted significantly amid a broader market decline, signifying weakened enthusiasm among digital asset investors in the country. According to data from CryptoQuant, the Bitcoin kimchi premium slumped to 1.5% on Friday during the afternoon trading session in Asia. Bitcoin Kimchi Premium Slumps For the uninitiated, the kimchi...Read More
During the ongoing cycle, BTC and ETH have witnessed a growing divergence in their respective performances. According to Glassnode’s findings, this can be attributed to a general trend of weaker capital rotation, particularly in comparison to previous cycles and all-time high breakthroughs. Ethereum Receives Weak Capital Flows Leading up to bitcoin’s peak established on March...Read More
Bitcoin prices have remained tightly rangebound since their return above the psychological $60,000 level on May 3. However, one prominent analyst sees the asset potentially recovering the $70,000 level this month, a price it has not seen since April 12. BTC to Climb Higher? On May 8, Adrian Zduńczyk, aka “crypto_birb,” told his 652,000 X...Read More
According to data from Kaiko, a bullish bias persists for Bitcoin options despite the recent market volatility. Last week, Bitcoin experienced volatility, briefly dipping below the $57,000 mark before experiencing a weekend rebound fueled by easing concerns over Fed interest rates. Bullish Shift in the Bitcoin Options Market The decline in Bitcoin’s price last week...Read More
A wallet that laid dormant for 10.3 years has suddenly sprung to life, transferring all 687.33 bitcoins, worth almost $44 million, on May 6, according to Lookonchain’s latest findings. The wallet in question had received the 687.33 BTC, valued at $630,000 at that time, on January 12, 2014, when bitcoin’s price was $917 and, interestingly,...Read More
Analysts at investment research firm Bernstein have reaffirmed their prediction that bitcoin (BTC) would hit $150,000 in this bull cycle despite the asset’s retracement in recent weeks. According to a recent report, Bernstein analysts Gautam Chhugani and Mahika Sapra said Bitcoin metrics show the network is in a healthy cycle still in its early stages....Read More
Markets rebounded strongly following last week’s Federal Reserve pivot and the premise of more liquidity being injected. Total crypto capitalization returned to pre-pullback levels, closing on $2.5 trillion again over the weekend and going back to the middle of its range-bound channel. This week’s economic calendar will not be as volatile as last week’s. “After...Read More
Bitcoin’s recent market correction that dragged the world’s largest cryptocurrency near the low of $56,500 turned out to be a good opportunity for high-profile investors. Data shared by CryptoQuant CEO Ki Young Ju revealed that whales have accumulated a whopping 47,000 BTC – worth more than $2.8 billion in current price – over the past...Read More
Experts now suggest that bitcoin may have reached a local bottom and will gradually recover over the coming months. BitMEX founder Arthur Hayes, for one, noted that the leading cryptocurrency might see a surge in value if, as he predicts, liquidity increases in the economy next week due to Janet Yellen’s policies. Bitcoin May Have...Read More
There are around 23,000 bitcoin options about to expire on May 3. These have a notional value of around $1.4 billion which has been pretty similar to previous expiry events. Crypto markets have been dumping hard all week but have recovered marginally in late trading on May 2. However, bitcoin remains under $60,000 and sentiment...Read More
The spot Bitcoin exchange-traded funds (ETFs) in the United States have recently observed a noteworthy trend, marked by a consecutive six-day period of outflows. Notably, BlackRock’s IBIT ETF encountered its first instance of outflows just yesterday. This development coincides with bitcoin navigating through its most challenging month since the aftermath of the 2022 FTX collapse,...Read More
Bitcoin prices slumped to a nine-week low just below $57,000 on May 1, shedding a further 4% on the day. The asset has now bled a whopping 11% since the same time last week. Market dips and flush-outs are not uncommon for crypto assets, but Glassnode analyst James Check thinks this time is different. Large...Read More
The crypto market has faced a massive correction over the past month – and new investors are proving incapable of stomaching the volatility. Blockchain data show that 2024 Bitcoin buyers, who entered a raging early-year bull market in which Bitcoin (BTC) surged to a new all-time high, are now panic selling at a loss as...Read More
The Bitcoin Fear and Greed Index shows crypto investor sentiment has turned neutral following BTC’s slump below $57,000. According to data from Alternative.me, the fear and greed index sits at 54 for the first time in three months, signaling that crypto investors are neither fearful nor greedy amid the current market conditions. Investors Harbor Neutral...Read More
BTC prices fell to a two-month low of $59,130 in early trading on May 1, a public holiday for most of Asia. It is the first time the asset has fallen this low since the end of February, when momentum was bullish. With monthly support now broken, analysts are eyeing the next levels and the...Read More
Business intelligence company MicroStrategy continues to increase its bitcoin stash, with a recent purchase of 122 BTC for nearly $8 million. In 2024 alone, the NASDAQ-listed giant has bought over 25,000 BTC. The company, which continues to remain the world’s largest corporate holder of Bitcoin, also reported a net loss and a decline in revenue...Read More
Is the Bitcoin bear market already starting to rear its head? One new piece of market data suggests this could be the case. As of Monday, Bitcoin is entering what could be its fifth negative weekly close in a row. Historically, Bitcoin has never closed five consecutive weeks in the red outside of a bear...Read More
Bitcoin has fallen back to more than 15% down from its mid-March peak, dropping to a ten-day low of under $62,000 on Monday morning. On April 28, an analyst feed ‘Stockmoney Lizards’ noted that the halving was over, but bitcoin continues to print red candles. They said that we are not at the end of...Read More
In yet another milestone for the Bitcoin network, its daily transactions peaked at 927,000, surpassing the previous record of 724,000 set in December 2023, according to findings by Intotheblock. The launch of Runes sparked a rapid increase, demonstrating growing interest and utility in cryptocurrencies, setting a new all-time high in Bitcoin’s transaction activity. Runes, a...Read More
Spot Bitcoin ETFs have been a major catalyst in driving BTC to establish an all-time high months before its fourth halving. According to a new report by Ecoinometrics, Bitcoin cannot grow further without those products. These funds appear to have “stopped accumulating coins” (in aggregate) for more than a month, which can be a cause...Read More
Bitcoin could be headed to $1 million after a tsunami of newly printed cash drives up all asset prices, according to Strike CEO Jack Mallers. The executive, whose payments app lets people remit fiat currency around the world on Bitcoin rails, said in a Friday interview that money printing will be required to bail out...Read More
The predictions for the US economy continue to be gloomy. “Rich Dad Poor Dad” author Robert Kiyosaki bluntly stated that the American economy is in a depression. He defined depression as an economy experiencing subpar growth – even though it is technically growing, it’s below its potential. To support his claim, Kiyosaki pointed out that...Read More
Following Bitcoin’s recent halving event, market analysts are closely eyeing the role of liquidity in shaping the cryptocurrency’s trajectory over the coming months. According to insights from Kaiko, the strengthening liquidity could support a sustained rise in bitcoin’s price. Bitcoin’s Liquidity Rebounds Liquidity refers to the ease with which an asset can be bought or...Read More
Since the bear market in 2022, bitcoin (BTC) has witnessed substantial pullbacks, losing up to 23% of its value on some occasions. Understanding the depth of these declines could help investors maximize their returns, as rebounds from these drops usually yield substantial gains. According to a tweet by crypto trader and analyst Rekt Capital, accumulating...Read More
The popular bitcoin perma-bear Peter Schiff has carried out another verbal attack on X during the most recent price correction that drove the asset to a multi-day low of around $63,000. Schiff, known for his support and admiration for gold, believes BTC’s price could plummet even more if it breaks below $60,000. Not Looking Good?...Read More
After a few days of hovering above $66,000, bitcoin (BTC) has dropped to a low of $63,500 amid heightened volatility. Coincidentally (or not), the amount of outflows from the United States spot Bitcoin exchange-traded funds (ETF) market on April 24 hit $120 million. BTC Plunges by 4.5% Data from CoinMarketCap shows that BTC lost roughly...Read More
Standard Chartered Bank analyst and head of digital assets research, Geoff Kendrick, believes bitcoin (BTC) will likely trend higher following the halving due to lower leveraged positions in the market. Speaking to BNN Bloomberg during an interview over the weekend, Kendrick said the current market environment, which has lower leverage, could propel the value of...Read More
The creator of the popular ‘Bitcoin Power Law’ has unveiled a chart detailing his price model’s exact BTC price targets for the next several market cycles. The model predicts that Bitcoin will reach $218,875 at its cycle peak in November 2025, before descending to $96,677 at its bottom in December 2026. What Is The Bitcoin...Read More
