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
Crypto markets pumped $65 billion following the news that a court ruled in favor of Grayscale in its lawsuit challenging the SEC’s decision to deny conversion of its GBTC fund to an ETF. The big move has reversed the recent bearish sentiment as market analysts and observers are now eyeing the next bull cycle. On...Read More
Long-term Bitcoin holders have proved to be highly resilient but data suggest that this cohort of market players had the inkling of a favorable outcome. Bitcoin received a major push following the Grayscale court victory against the US Securities and Exchange Commission (SEC). However, preceding this event, there was significant accumulation amidst a period of...Read More
Bitcoin has wiped off all the gains it made after the Grayscale victory over the SEC. Leading up to the fact, several thousands of BTC were sent to crypto exchanges primarily driven by investors seeking to capitalize on the positive news as many anticipated a favorable outcome. Interestingly, this influx of BTC into exchanges shows...Read More
Bitcoin (BTC) has slid back to the $26,000 price level, where it was before a U.S. court ruled in favor of digital asset management company Grayscale Investments in its lawsuit against the Securities and Exchange Commission (SEC). Crypto analytics firm Santiment noted that on-chain data shows that the digital asset has retraced its steps after...Read More
Crypto analytics platform Santiment has found that bitcoin (BTC) supply on exchanges has plummeted to its lowest level in roughly six years. On-chain data analyzed by the firm shows that only 5.8% of the total BTC supply sits on trading platforms, and this level was last seen on December 17, 2017. Bitcoin Supply on Exchanges...Read More
Bitcoin continues to be shaky at around $26,000 after a violent crash last Thursday. However, the flagship crypto asset is not likely to see prominent gains before the much-anticipated halving that is expected to occur on April 20, 2024. According to Pantera Capital’s recent projection, the next halving would see Bitcoin surging to $35k before...Read More
The violent sell-off last week spurred by the deleveraging event has taken a serious toll on short-term Bitcoin holders making for the largest single-day down move YTD. This subsequently pushed prices below the ‘Short-Term Holder’ cost basis. Recent data suggest that a significant portion of the short-term holder supply is currently being held at an...Read More
While many believe the 2022 bear market is over, bitcoin recently dumped further south, and now some analysts are speculating that the asset could fall to lows unseen for years. The metrics that could forecast this are the Volume Weighted Average Price (VWAP) and the Volume Profile Visible Range (VPVR). Recall that BTC became the...Read More
