After a powerful rally, Bitcoin appears to have hit a degree of near-term exhaustion. The uptrend encountered resistance this week, breaking to a new yearly peak of $44.5k before sustaining the third sharpest selling-off of 2023. On-chain data suggest that short-term holders (STH) are to blame for pausing the climb. Bitcoin Short-Term Holders Capitalize on...Read More
The supply of bitcoin (BTC) on centralized crypto exchanges has fallen to its lowest level in six years, indicating a decline in selling intent. According to the latest edition of the Bitfinex Alpha report, exchange-held BTC has reached its 45th consecutive month of diminishing supply. The development came when BTC hit a significant resistance level...Read More
With Bitcoin (BTC)’s next halving only five months away, investors are excited about whether the event can catalyze another epic bull market similar to years past. Mitchell Askew – Head Analyst for Blockware Solutions – is optimistic: not only does he predict more gains to come, but that the halving’s effect will retain its exponential...Read More
The largest digital asset crashed almost 5% in just over an hour, slumping from $43,800 to an intraday low of $41,780 during the Asian trading session on Monday, Dec. 11. At the time of writing, BTC was changing hands for around $42,300, which still puts it up 3.7% from the same time last week. The...Read More
The Bitcoin halving is arguably the most important event in the cryptocurrency industry, taking place every roughly four years (210,000 blocks). It aims to reduce the speed at which new BTC is being produced, which essentially reduces the pre-programmed inflation rates and ensures that Bitcoin mining will continue for many more years, even though more...Read More
Five months after Ripple’s resounding legal triumph over U.S. regulators, the company’s cryptocurrency has shed virtually all of its former gains against its digital competitors. The XRP/BTC price ratio has returned to its level from prior to July 13, after which XRP rallied against the market’s leading crypto asset by ~80% within a week. Back...Read More
Popular analyst and Bitcoin advocate CryptoCon BitTime is currently on track, and the model suggests that BTC cycles closely follow each other, particularly when they alternate. In a post on X, CryptoCon shows a chart in which the current white cycle is compared to the 2015-2018 cycle, and it accurately predicted the early top in...Read More
Bitcoin (BTC) has climbed back to $44,000 for the first time in 19 months – nearly three years since first reaching that value in February 2021. That doesn’t mean the asset is stagnant, however: on-chain analysis finds that much has changed about the nature of the crypto market, painting a much more bullish outlook this...Read More
For its more speculative enthusiasts, Bitcoin is delivering an early Christmas by racing beyond the $40,000 threshold and showing strong upward momentum. The rally has helped the market to distance itself from the challenges of the crypto winter in 2022. Yet, it’s essential to note that Bitcoin began the year with a precarious start, initially...Read More
The Bitcoin critic Peter Schiff made yet another bold prediction about the fate of Bitcoin in light of gold’s recent dip following a peak. In a fresh assault on Bitcoin’s potential, Schiff predicted a collapse “more spectacular” than the crypto asset’s recent rally. Schiff may have convinced himself that Bitcoin is spiraling into oblivion, but...Read More
In the past week, investments in digital asset products surged by $176 million, marking the 10th consecutive week of continuous inflows. The total inflow over this period reached $1.76 billion, constituting 4% of the assets under management (AuM). This streak of inflows is the largest since October 2021, when the US witnessed the launch of...Read More
Crypto markets have marched higher during the weekend and into the Monday morning Asian trading session. They have been dominated by Bitcoin, which has surged to its highest price in 19 months, reaching $41,750 on December 4, according to CoinGecko. At the time of writing, the asset was trading close to $41,500 following a 5.2%...Read More
As CryptoPotato reported, Bitcoin’s price exploded above $41K for the first time in 19 months, leaving a trail of liquidated short positions over the past 24 hours. Many analysts and experts have stated that the bull run has already begun, while others believe that it will come following the 2024 Bitcoin halving. That said, Jeroen Blokland, a...Read More
Touching $$40,000 this week, Bitcoin price continues to post new highs since the 2022 bear market. The going price for a whole coin was below $27,000 at the end of September just two months ago. Growing excitement over a Bitcoin ETF approval by the SEC drove BTC higher in the fourth quarter. But the world’s...Read More
Michael Novogratz, the founder and CEO of Galaxy Digital Holdings Ltd., anticipates that Bitcoin will reclaim its previous peak within a year, fueled by the growing expectation that the U.S. Securities and Exchange Commission (SEC) will greenlight the first American exchange-traded fund (ETF) directly holding Bitcoin. Meanwhile, there has been a surge in Bitcoin ETF...Read More
After a meteoric rise from $26,750 on Oct. 12 to close the month at $34,667 on Oct. 31, Bitcoin price (BTC) is still rising in November. BTC pumped from the $36,500 handle to multi-day support at $37,400 the day Grayscale Investments met with the SEC over its Bitcoin ETF application. But its gains have seen...Read More
The Bitcoin spot ETF narrative has numerous analysts and famous figures in the crypto space debating how much BTC will be worth if the ETF gets approved. The recent developments in the cryptocurrency market — the aftermath of the DOJ settling with Binance in $4.3 billion deal and the removal of CEO Changpeng Zhao — have...Read More
The prospect of a regulated spot Bitcoin ETF has roused cryptocurrency investors into a frenzied bull run. They expect an ETF product to on-ramp millions of investors in structured broker-dealer accounts. Since March, Bitcoin (BTC) has traded in a range bound by support at $25,000 and resistance at the $30,000 level. As spot ETF rumors...Read More
The largest cryptocurrency exchange – Binance – experienced an increase in the withdrawal of funds shortly after its chief executive, CZ, pled guilty to criminal charges. Although the mass exodus of digital assets from Binance has somewhat diminished, outflows persist. The latest data indicates a transfer of funds between Binance and Coinbase Pro. CZ pleaded...Read More
The volume of Bitcoin supply in profit has reached the levels last seen two years ago as the market came off its November 2021 all-time high, according to Glassnode. In its ‘Week on Chain’ report released this week, the analytics provider added that the magnitude of unrealized profit held within these coins remains modest. The...Read More
Users of Bitcoin’s blockchain payments network have seen transaction fees explode since October. Meanwhile, the oldest cryptocurrency’s main rival, Ethereum, is also seeing sky-high fees. According to blockchain data service CryptoRank from earlier this week, ETH gas fees across the network averaged $20 to bridge assets, $60 to make a token swap and $110 to...Read More
Bitcoin (BTC) has entered a consolidation phase, where uncertainty and fears abound about its price declining further. According to the latest edition of the Bitfinex Alpha report, BTC is hovering around the $37,000 price range with signs of diminishing momentum and positive funding rates on futures contracts, a metric historically associated with market declines. Besides...Read More
Digital asset investment products experienced a cumulative inflow of $176 million in the past week, marking the eighth consecutive week of positive weekly inflows. The share of total cryptocurrency volumes held by Exchange-Traded Products (ETPs) is on the rise, averaging 11%, significantly surpassing the long-term historical average of 3.4%. The latest data suggest that this...Read More
Bitcoin (BTC)’s price will reach $150,000 by 2025 thanks to the upcoming “halving” and spot ETF approvals, wrote Bernstein in a Monday report. Analysts for the $691 billion asset manager’s crypto unit have modeled the asset’s future price based on its marginal production cost for miners, which they argue “acts as the price floor for...Read More
The futurist investment management firm is one of several awaiting SEC approval for a spot Bitcoin ETF product. In a recent interview, CEO Cathie Wood said “something has changed” at the agency as they handle her fund’s application for a spot Bitcoin ETF. Bitcoin price has whipsawed this week, pumping as high as $37,900 from...Read More
Bitcoin has demonstrated remarkable market strength recently, as evidenced by on-chain analysis revealing a surge in BTC whale activity for transactions over $10 million. This increase now constitutes 30% of the recent transaction volume, matching a peak observed only once in 2023. This resurgence indicates renewed market confidence, driven by Bitcoin’s price movements and anticipation...Read More
Since breaking above $36,000 last week, Bitcoin’s exchange rate with the U.S. dollar and USD stablecoins has held steady above the $36,500 level. The bull market has taken BTC’s market cap up to 55% of the global silver market cap. Meanwhile, the total market capitalization of all cryptocurrencies has surpassed the value of all the...Read More
Even crypto cynics are expecting big returns from Bitcoin (BTC) while markets await an SEC approval for a spot ETF product. It could happen any day now. One major Wall Street bank expects the SEC to move by January 10th. Tradfi Chief Riding Bitcoin Momentum Short Hills Capital’s Steve Weiss, a frequent CNBC contributor, recently...Read More
Cryptocurrency exchange Bitfinex has warned investors to exercise caution in their trading strategies as bitcoin (BTC) has entered a higher volatility environment. According to the latest edition of the Bitfinex Alpha report, BTC’s recent ascent to the $38,000 range may not last for a while, as on-chain metrics show that the digital asset could retrace...Read More
Consistent, diligent Bitcoin (BTC) buyers who have stacked sats for two years have greatly outperformed investors in other asset classes – despite entering the crypto market at one of the worst possible times. As of Thursday, dollar cost averaging Bitcoin since November 10, 2021, has put buyers 40% in the green. Bitcoin DCA Is The...Read More
