Bitcoin briefly soared toward $30,000 following a false spot Bitcoin ETF approval information before swiftly retreating to the $28,000 level. But an actual approval could add $1 trillion to the crypto market, according to the latest report by CryptoQuant. The next wave of Bitcoin institutional adoption appears to be advancing in the form of financial...Read More
Digital asset investment products attracted inflows for the third week in a row, totaling $15 million. However, trading volumes remain 27% below the 2023 average. Over the past week, Bitcoin saw inflows of $16 million, bringing the year-to-date inflows to $260 million, while short BTC products also received $1.7 million. Altcoins, however, did not have...Read More
Bitcoin has just set a new record for the time spent in a mid-cycle consolidation phase between market cycle peaks. It has been in this phase for eight months, according to technical analyst ‘CryptoCon,’ who added that this cycle is still playing out the same as previous ones. The analyst has used Fibonacci retracement levels...Read More
Bitcoin short-term holders’ supply has taken a severe hit this year, while the asset itself wiped all the gains of ‘Uptober’ following several corrections and a failure to launch a meaningful rally. But as the price of Bitcoin recovers, the STH NUPL metric approaching equilibrium could spell trouble for the market, putting the asset at...Read More
TL;DR Binance CEO Changpeng Zhao expects Bitcoin (BTC) to reach new all-time highs after the April 2023 halving but advises against premature FOMO. CZ notes common patterns during BTC halvings, including hype, heightened expectations, and market unpredictability, emphasizing that BTC’s price won’t double overnight but will see adjustments and consolidation. CZ suggests that typically, a...Read More
Despite an overall depressed market and now the specter of another war as tensions escalate in the Middle East, crypto experts and executives remain confident for the future. Many have been sharing their thoughts recently, and the Bitcoin halving narrative seems to be strengthening. There are various counters, but the general consensus is that this...Read More
On Oct. 6, Capriole Fund founder Charles Edwards observed the hodl waves for long-term Bitcoin holders. He noted that the recent massive growth in long-term Bitcoin holders is comparable only with 2016. The jump will have big consequences in 2024, he said adding that this was not seen in the last bull cycle, meaning that...Read More
BitMEX co-founder and macro-analyst Arthur Hayes recently predicted that Bitcoin’s price will soar between $750,000 and $1,000,000 per coin within roughly 3 years. His prediction, which is far more bullish than that of most analysts, rests on a macroeconomic thesis that all financial assets are due for an unprecedented boom. The Biggest Bull Market Ever...Read More
TL;DR Bitcoin supply on exchanges is at a 5-year low of around 2.29 million BTC. The percentage of BTC supply on exchanges has decreased from 5.99% to 5.73% since September 1st, indicating decreased selling pressure. Whales have been accumulating BTC, controlling over 66% of the circulating supply, and the top 1% of Bitcoin addresses own...Read More
The cryptocurrency market has flashed green recently, with most digital currencies charting substantial gains. Bitcoin (BTC) – the largest by market capitalization – and XRP – Ripple’s native token – are undoubtedly amongst those. In this article, we will observe ChatGPT’s answer to the question of whether XRP has a chance to outperform the primary...Read More
Bitcoin has surged past the $28,400 mark for the first time since mid-August, sparking investor optimism that “Uptober” has arrived. Data indicates that BTC wallets have accumulated billions of dollars in the last month, potentially driving prices even higher. A similar sentiment was voiced by experts who embraced the bullish outlook as the leading cryptocurrency...Read More
Bitcoin prices have surged almost 4% on the day, topping $28,000 during the Monday morning Asian trading session. It is the highest price BTC has been at since August 17, however, there is heavy resistance at this level. Analyst ‘CrediBULL Crypto’ said, “Every higher timeframe impulse starts with a lower timeframe impulse.” He added that...Read More
Bitcoin’s price has been on the move throughout the past 24 hours and managed to increase to around $28,000. This comes on the back of millions worth of liquidated short positions and an increased trading volume across the board. As the market sentiment betters, we decided to take the opportunity to poke ChatGPT’s artificial brains...Read More
Artificial intelligence technology has stormed into our lives this year, with chatbots such as ChatGPT taking center stage. While they are commonly used to automate certain processes to assist us with some mundane tasks, it’s also curious to poke their artificial brains on exciting topics that many are interested in. For the cryptocurrency community, the...Read More
Bitcoin’s price has found itself trapped beneath the $27,000 mark amidst a significant decline in spot trading volumes that hit a 6-year bottom. This substantial slump in spot trading activity can be attributed to the growing fear surrounding the macroeconomic landscape. However, this downward trend in spot trading has an interesting side, according to CryptoQuant....Read More
John Deaton – an attorney representing thousands of Ripple investors involved in the legal battle against the US Securities Exchange Commission (SEC) – believes the price of bitcoin might thrive next month. Most analysts have recently predicted that BTC could indeed skyrocket in the future, but not before the halving scheduled for the spring of...Read More
The last couple of days have witnessed several developments and comments regarding three of the most popular cryptocurrencies: Shiba Inu (SHIB), Ripple (XRP), and Bitcoin (BTC). In the following lines, we will touch upon each asset. Starting With SHIB The self-proclaimed Dogecoin killer, specifically its layer-2 scaling solution Shibarium, has been in the spotlight once...Read More
Three of the leading cryptocurrencies in terms of market capitalization and popularity – Bitcoin (BTC), Ripple (XRP), and Shiba Inu (SHIB) have recently achieved various milestones. In the following lines, we will pinpoint these advancements as well as shed more light on possible upcoming developments. XRP’s Milestone As CryptoPotato reported a few days back, the total accounts...Read More
Bitcoin has done very little over the weekend, hugging the $26,500 price level with minimal volumes and volatility. Market analyst and chart guru “PlanB” has been tweaking his pricing models since the infamous stock-to-flow model has been potentially invalidated by this extended bear market. With the new market phase naming, BTC is still in the...Read More
The cryptocurrency market has recently shown some signs of revival. However, three of the most popular digital assets – Ripple (XRP), Bitcoin (BTC), and Shiba Inu (SHIB) – have not been among the best performers. In the following, we will take a closer look at whether they are poised for a possible price expansion, as...Read More
Data from the Artemis Terminal reveals that Ethereum (ETH), the second-largest blockchain network by market capitalization, has surpassed Bitcoin (BTC) in terms of daily active addresses. According to the latest statistics, Ethereum boasts 1.03 million daily active addresses, while Bitcoin stands at 743,800. Santiment’s Insights into Ethereum’s On-Chain Activity According to a report by market...Read More
Following a period of substantial capital inflows at the beginning of the year, the recent months have witnessed a shift towards either neutral or negative inflows, suggesting a period of stagnation as uncertainty took over the asset class. According to blockchain intelligence platform Glassnode, the market has been hovering on a relatively neutral level since...Read More
BitMEX co-founder Arthur Hayes said that the recent decision by the United States Federal Reserve (Fed) to lower interest rates is expected to trigger a rapid surge in Bitcoin’s price, potentially propelling it toward the $70,000 mark. Hayes had previously predicted that Bitcoin would reach this level after March, but the Fed had increased interest...Read More
The market remains in an “apathetic” state, with digital asset funds experiencing outflows totaling $59 million last week, bringing the total outflows in this streak to $294 million. This represented 0.9% of total assets under management (AuM). Digital asset manager Coinshares attributed these movements primarily to ongoing concerns about the regulatory environment for the asset...Read More
Liquidity across the crypto market continues to dry up, with both on-chain and off-chain volumes reaching historical lows. These were the findings from analytics provider Glassnode in its latest weekly report on Sept. 11. Moreover, a “significant proportion” of the BTC supply is teetering on the edge of falling into a significant unrealized loss, it...Read More
A Newport resident who accidentally disposed of a hard drive containing 8,000 Bitcoin (BTC) is looking to file a lawsuit against the city’s local council for refusing to accept his request to dig up a landfill site for the lost crypto treasure. The investor has been trying to get his Bitcoin excavated for a decade,...Read More
Bitcoin’s price is well known for its four-year price cycles, which coincide with its “halving” schedule that reduces its inflation rate every four years. But is one phenomenon truly related to the other? Some analysts believe that the asset’s cyclical movements are related to macro conditions. and that the halving schedule’s congruency is pure coincidence....Read More
On Aug. 28, MN Trading CEO and founder Michaël van de Poppe said the current bear market is relatively comparable to what we’ve witnessed in 2015. He added that it was essentially a period of sideways action, where the faith in crypto is slowly getting lost too, “despite the fact of solid fundamental growth.” The...Read More
The latest edition of the weekly report from crypto exchange Bitfinex has revealed that Bitcoin’s mining difficulty reached a new peak as BTC hovered around the $26,000 price level. The “Bitfinex Alpha” report disclosed that the mining difficulty hit an all-time high of 55.62 trillion hashes. Bitcoin’s Mining Difficulty Hits New High The mining difficulty...Read More
The US Court of Appeals for the DC Circuit overturned the country’s securities regulator’s rejection to review Grayscale’s application to turn its flagship fund into a spot Bitcoin ETF. Recall that the asset manager sued the Securities and Exchange Commission earlier this year. The Tuesday ruling ordered the SEC to “vacate” its decision to refute...Read More
