Bitcoin’s price is poised for an upcoming rally this year, and the best scenario can take the asset to above $100,000 for the first time ever, said the CEO of CryptoQuant – Ki Young Ju. To do so, though, certain developments have to transpire, which are mostly related to the recently approved spot Bitcoin ETFs...Read More
On-chain analysis by market intelligence platform CryptoQuant has found that selling pressure from Bitcoin miners has eased and remained low despite a significant decline in transaction fees. According to the firm’s latest weekly report, Bitcoin sold daily by miners currently sits around 300 BTC, significantly down from the companies’ 800 BTC daily sales in November...Read More
Bitcoin witnessed significant developments in recent weeks that have helped it extend its rally, surging past $47,000 for the first time in nearly a month. The uptick has brought a sense of relief for its investors, who recently endured a brief plunge to 38,500 and now find themselves comfortably in the profit zone amidst market...Read More
Bitcoin surged past the $46,000 mark on February 9th after overcoming a significant resistance level at $44,000. This resistance had been a barrier to price increases since the introduction of spot Bitcoin ETFs in the United States about four weeks earlier. The leading crypto asset, buoyed by the onset of East Asia’s major festival marking...Read More
Bitcoin (BTC) broke the $46,000 barrier after several weeks of consolidation, marking a multi-week high. This price increase hasn’t been seen since January 12, the day spot bitcoin exchange-traded funds (ETF) became a reality. The increase was attributed to heightened accumulation of BTC by large holders and new all-time highs in U.S. equity indices. Following...Read More
With almost all losses from the post-ETF-approval apocalypse already erased and the upcoming halving, which tends to serve as a catalyst for future price increases, the crypto community continues to speculate how high Bitcoin can go this year. PlanB, the popular analyst behind the Stock-to-Flow model, believes the asset will not go below $40,000 due...Read More
Popular trader and technical analyst CryptoCon shed light on Bitcoin’s historical patterns in a new analysis published on X, stating that BTC could retest $31.300 this year. Yet, the emergence of ETF inflows could counter further contraction. According to CryptoCon, there hasn’t been a single Bitcoin cycle that has “escaped a retest of the 150%...Read More
Bitcoin price may still be correcting as many predicted it would after the SEC approved several Bitcoin ETFs on Jan. 10. But the halving this year will exert its own influence over crypto exchange rates. After crashing 15% from the Jan. 10 price to on Jan. 22, Bitcoin (BTC) retraced to support above $42,500 for the...Read More
With the fourth halving event scheduled for April this year, speculation about Bitcoin’s future trajectory is rampant. One notable voice in this conversation is Charles Edwards, the founder of hedge fund Capriole Investments, who has made a striking prediction – if Bitcoin’s post-halving returns mimic those of 2020, the market could be witnessing a staggering...Read More
Over the weekend, Bitcoin technical analyst and stock-to-flow model creator “PlanB” said that after the halving, “Bitcoin will be scarcer than gold and real estate.” However, he added that he wouldn’t be surprised if Bitcoin’s market capitalization, currently less than $1 trillion, stayed below gold’s, which is currently less than $10 trillion. With some basic...Read More
A recently released study by Bitget focusing on the upcoming Bitcoin halving event indicated a positive outlook as market conditions continue to recover. With the Bitcoin halving scheduled for April 2024, investors across the world are carefully analyzing its potential impact on their investment decisions. The research involved a diverse array of contributors hailing from...Read More
The US Securities and Exchange Commission made history in mid-January when it finally approved nearly a dozen spot BTC ETFs to launch on local exchanges after a decade of delays and rejections. There was a big price run-up ahead of the approvals that resulted in a highly positive Q4 ’23 for BTC. However, the landscape...Read More
Bitcoin’s price actions in the past several days have been quite uneventful, with little to no movements after last week’s recovery from the sub-$40,000 dip. However, data from Santiment shows that some of the largest investors have been using this moment to move sizeable portions of their holdings. 🐳 #Bitcoin is ranging between $41K and...Read More
A significant uptick in the flow of BTC from miner wallets to spot exchanges was flagged on January 29th, marking the highest volume since May 16, 2023. According to CryptoQuant’s analysis, over 4,000 BTC, equivalent to approximately $173 million, entered these exchanges, signaling substantial selling pressure. Interestingly, despite this influx, the market appears to have...Read More
Bitcoin market price movements have historically followed similar patterns leading up to the four-year halving event. There is usually a mid-cycle top, then a pullback of as much as 30% before the halving and the next bull cycle. On Jan. 30, crypto analyst “Rekt Capital” said that the pre-halving period where pullbacks tend to occur...Read More
Anthony Scaramucci – founder of SkyBridge Capital – predicts that the next Bitcoin (BTC) halving will catapult the asset’s price to $170,000 per coin. His latest estimate is based on Bitcoin’s consistent track record of tapping new all-time highs following the “halving” – a roughly one-in-four-year event that cuts the rate at which new BTC...Read More
Tether’s (USDT) circulating supply has long been a subject of intense speculation regarding its potential impact on the price of Bitcoin. Recent findings from CryptoQuant suggest a significant correlation between the supply of USDT and movements in Bitcoin’s price, particularly since the latter part of 2022. USDT Influx Fuels Bitcoin Surge The analysis indicated that...Read More
In short, an overbought market after months of increasing certainty about the SEC’s Bitcoin ETF approvals burst in January and allowed the price to correct some. Historical #Bitcoin prices for today, January 26th: 2024 – $41,1742023 – $23,0162022 – $36,8002021 – $32,5022020 – $8,6082019 – $3,5712018 – $11,1182017 – $9162016 – $3902015 – $2692014 –...Read More
Bitcoin is back above $42,000 after dropping below the $ 39,000 threshold earlier this week. The subsequent increased selling pressure on Bitcoin was alarming, but the overall sentiment appears to be bullish nonetheless. This was evidenced by Bitcoin accumulation wallets, which are now holding an impressive 1.7 million BTC, valued at $68 billion, according to...Read More
A significant shift is occurring in the Bitcoin mining landscape as the fourth halving event approaches, which is set to reduce the supply subsidy of BTC from 6.25 BTC for every block to 3.125 BTC per one. With approximately just 82 days left, Bitcoin miners appear to be selling their reserves, according to the latest...Read More
Bitcoin is anticipated to undergo a prolonged period of challenges as it seeks to recover lost value and reach previous peak levels, according to investor Chris Burniske. In a recent post on X (formerly Twitter) on January 25, Burniske, currently a partner at the crypto venture capital firm Placeholder, suggested that the price of Bitcoin...Read More
According to a Matrixport Research analysis report shared with CryptoPotato on Jan. 26, Bitcoin prices may retest lower support around $36,000 to $38,000 if ETF hype fully unwinds. However, this would present buying opportunities for investors, according to Markus Thielen, Head of Research at Matrixport. “Sub-38,000, the ETF hype might be completely priced out and...Read More
Bitcoin is barely pulling through the week as its price is clinging to $40,000. This marks its lowest level in seven weeks, prompting investors and analysts to discuss the next stop for the crypto asset. Despite the bearish sentiment propagating slowly in the crypto community, analysts and crypto investors remain positive on Bitcoin’s long-term value...Read More
Bitcoin (BTC) has significantly declined over the past few days, leading to a fall in unrealized profits, particularly among short-term holders. According to a report from crypto exchange Bitfinex, the decline in unrealized profits could contribute to an increase in selling pressure, leading to further market correction. Bitcoin’s Unrealized Profits Plummet Since BTC fell and...Read More
BTC has dropped to its lowest price level for seven weeks, hitting $39,500 during Tuesday morning’s Asian trading session. The 3% daily decline has increased the size of the BTC pullback to 18.5% from its Jan. 10 high of $48,500. Moreover, analysts have predicted that the correction could continue and be as deep as 30%,...Read More
Chris J Terry, a crypto market analyst, has recently predicted that Bitcoin’s (BTC) price could either remain stagnant or decline until the $25 billion liquidation of GBTC is finalized. Mike Novogratz, the founder of Galaxy Digital, holds a different view. He argues that despite the anticipated GBTC sell-offs, most investors will shift their focus to...Read More
Arthur Hayes, the co-founder of the BitMEX cryptocurrency exchange, has adopted a pessimistic view of Bitcoin, predicting a decline in its value below the $40,000 threshold. ` In response to this outlook, Hayes has acquired put options set with a strike price of $35,000, set to mature on March 29. BitMEX Co-Founder Invests Put Options...Read More
Perhaps the most important development in terms of global validation for BTC in its 15-year-long history came last week when the US Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs to be traded on financial markets. These approvals were long-anticipated by the crypto community, as well as traditional investors, but they...Read More
In an interview with Bloomberg, Rachel Aguirre, the head of product at BlackRock U.S. iShares, revealed that the firm’s spot Bitcoin ETF (IBIT) has witnessed a surge in inflows, predominantly coming from retail investors and newcomers to the cryptocurrency space. This revelation follows the impressive performance of IBIT, which has maintained its lead in total...Read More
2024 kicked off with a tumultuous journey for Bitcoin, marked by the introduction of new spot ETFs on US markets. Bitcoin’s entry into traditional finance represents a historic move, but miners seem to be selling off their holdings. This development is especially significant in light of the recent fluctuations in Bitcoin’s price. According to the...Read More
