Bitcoin and Ethereum slumped by double-digit percentages weekly after tapping multi-month highs last weekend. This resulted in over $150 billion gone from the entire market cap. Somewhat expectedly, the Fear and Greed Index has returned to a state of fear, but BitMEX’s co-founder – Arthur Hayes – believes this retracement could be an opportunity to...Read More
It has been a tough year for crypto miners who had to sell their coins to cover their costs and fund expansion as well as for the repayment of debts. But this trend appears to be continuing into the third quarter of the year for some. Bitcoin price successfully broke out before facing rejection near...Read More
U.S. GDP has contracted for the second consecutive quarter. On July 28, the Commerce Department reported that gross domestic product had fallen by 0.9% between April and June. The United States has been in negative GDP for the first six months of this year, which has traditionally meant that it is in recession. The figure...Read More
U.S. Treasury yields edged up Monday as markets focus on inflation woes and recession risk. All eyes are on a two-day Federal Reserve policy meeting that concluded this Wednesday, and the central authority hiked the interest rates by 75 basis points, as many expected. A slew of tech earnings reports this week and the latest...Read More
Bitcoin and Ethereum are pumping after the U.S. Bureau of Economic Analysis released its official GDP data for Q2 2022. The data shows that real GDP decreased by 0.9% year over year, marking the nation’s second consecutive quarter of negative GDP growth. Bitcoin traded for about $22,700 prior to the bureau’s release at 08:30 EST....Read More
Somewhat surprisingly, the crypto market reacted quite well to the latest interest rate hike from the US Fed, with prices soaring to new weekly highs. As such, the number of liquidated traders on a daily scale is over 90,000, while the total value of liquidations is $400 million. As CryptoPotato reported yesterday, the primary cryptocurrency...Read More
After an exuberant risk-on rise in Bitcoin’s price Tuesday, a retracement since Wednesday wiped out most of the gains. Traders blame Tesla’s Q2 earnings report. Bitcoin prices hovered around the $20K level since mid-June. Markets are watching closely to see what bitcoin whales will do next. Tesla reported dumping 75% of its bitcoin Wednesday. As...Read More
Su Zhu and Kyle Davies – Co-Founders of the distressed cryptocurrency hedge fund Three Arrows Capital (3AC) – explained that accumulative lending agreements and the collapse of the digital asset market are the reasons for the fall of their project. In addition, they said accusations against them of living a lavish lifestyle on the back...Read More
As Bitcoin spiked through the resistant level of $23,000 after dipping below $19,000 recently, many expected that the breakout signaled a short-term relief rally. Glassnode’s weekly report predicts that the primary cryptocurrency is forming a “genuine bottom” as its current realized value is around $22,000. In the meantime, on-chain data has shown that the unrealized...Read More
Bitcoin has slowly begun to decouple from equities, now nearing its lowest correlation with the stock market in 2022. A 40-day correlation coefficient between Bitcoin and the Nasdaq 100 index has fallen below 0.5 – levels not seen since January, according to Bloomberg. By comparison, the correlation was about 0.6 at the end of last...Read More
The number of liquidated traders and the value of liquidations skyrocketed to over $200 million on a daily scale as BTC, and the entire crypto market experienced enhanced volatility following the record-breaking US inflation data. The past several days didn’t go all that well for the primary cryptocurrency, which lost the coveted $20,000 mark yesterday...Read More
The world’s largest cryptocurrency recorded one of the worst monthly price performances in history in June. This month, too, has been kind to it. The current market structure has many hallmarks of the later stage of a bear market. And while many bottom formation signals have formed, Bitcoin is yet to establish a “resilient” one...Read More
The past months have been long and bumpy for Bitcoin, which took yet another plunge below the psychological level of $20k. But that isn’t stopping the retail investors from buying the dip. Investors, both big and small, have lost significant money on their Bitcoin bets. But latest data from IntoTheBlock suggest that retail is stacking...Read More
Analysts at Deutsche Bank – Marion Laboure and Galina Pozdnyakova – argued that the cryptocurrency market is “highly fragmented,” and its decline could continue in the near future. However, they believe bitcoin might tap $28,000 by the year’s end, assuming it keeps its close correlation to US stocks. BTC at $28K by Christmas The past...Read More
With bitcoin continuing to experience adverse price movements and dumping below $20,000 for the second time in June, the asset is on the brink of registering its worst-performing quarter in about a decade. Bitcoin’s 60% Q2 Drop Data from Coinglass shows that the primary cryptocurrency is down by almost 60% in Q2, which will end...Read More
Mark Newton – technical strategist at the investment insights firm Fundstrat – is not convinced that Bitcoin has reached its bottom. He claims there is a significant chance of a “final washout” style event that could take the top cryptocurrency as low as $12,500. One Last Crash? As Newton explained in a note to Bloomberg...Read More
With bitcoin losing nearly half its value at one point a week ago and marking an 18-month low, the asset’s situation seemed gloomy at best. However, there are some positive signs as investors have been continuously withdrawing their BTC holdings from exchanges. BTC on Exchanges Sees 3-Year Lows A lot has been said about what...Read More
Ethereum’s co-founder used the recent market crash as an opportunity to lash out against the Bitcoin stock-to-flow model, which has deviated severely from its price predictions. The S2F creator responded quickly and didn’t hold back. Buterin and ETH Against the S2F Developed and published a few years ago by a popular crypto analyst going by...Read More
After a record-breaking string of declines, the former BitMEX CEO – Arthur Hayes – has given yet another dire outlook on where crypto is headed. In the latest Twitter thread, Hayes said that the respite might be brief, and forced selling in the short-term may drag the entire market down. The former exec predicted the...Read More
The bloodbath that brought BTC down from $21,000 to below $18,000 during the weekend has resulted in the largest USD-denominated realized loss for bitcoin investors. Interestingly, long-term holders were among the most active sellers, some of which realized losses in excess of 70%. Largest USD-Denominated Realized Loss Streak After registering the longest negative streak in...Read More
Despite the recent pullback of the cryptocurrency market, the British cryptographer and an outspoken supporter of bitcoin – Adam Back – thinks the asset could tap $100,000 by the end of 2022. He also admitted that he kept buying amounts of BTC and HODL for the long term. No Matter the Crash, Back Remains Bullish...Read More
Over the past seven days, crypto markets have plunged a whopping 24%, shedding $320 billion from total market capitalization. That figure, which encompasses all cryptocurrencies, fell to an 18-month low beneath $900 billion this week, marking a 70% drawdown since November. The massive sell-off has paused a little today as markets recaptured that $900 billion...Read More
The first nation to legalize BTC inside its borders sits on a substantial unrealized loss from its bitcoin stack. However, its Finance Minister, Alejandro Zelaya, reassured that the most recent market crash will not hurt the country’s fiscal health. No Worries in El Salvador The small Central American country made history approximately a year ago...Read More
No bottom is in sight yet, as bitcoin slumped below $25,000 for the first time since December 2020. Expectedly, the altcoins keep suffering more with several double-digit losers. As such, the liquidations are up to half a billion again. A lot can change in the cryptocurrency markets in a week, and it did so in...Read More
The adverse price developments in the cryptocurrency space only intensified in the past 24 hours, with new weekly, monthly, and even yearly lows registered from many altcoins. With double-digit drops evident across many charts, it’s no wonder that the daily liquidations have shot up above $500 million. It’s safe to say that the crypto market...Read More
Jan Van Eck, CEO of global investment manager VanEck, believes the value of one bitcoin could skyrocket to as high as $250,000, but the quarter of a million dollars prediction could take decades to happen. Bitcoin at $250k Could Take a Decade The VanEck CEO made the bullish price prediction in a recent interview with...Read More
With the price of bitcoin currently below $30,000, Scott Minerd, the chief investment officer of global investment giant Guggenheim Partners, believes BTC’s value could further dip to $8,000. Bitcoin Price Could Bottom at $8,000 Minerd made the bearish prediction on Monday (May 23, 2022), during an interview on CNBC’s Squawk Box at the World Economic...Read More
The frantic price action in the cryptocurrency market does not seem to faze the uber-bullish billionaire CEO of tech firm MicroStrategy. Michael Saylor has yet another bold prediction for Bitcoin, even as his favorite cryptocurrency struggles to hold on to the $30,000-mark. The exec, who started to build up his Bitcoin reserve in 2020, reiterated...Read More
Last week’s rollercoaster continues to impact the cryptocurrency market in one or more ways, as IntoTheBlock data indicated that approximately 40,000 BTC had made their way into exchanges since May 11. While this has increased the selling pressure, there’s some good news since bitcoin actually managed to remain above $28,000, which was a pivotal mark....Read More
As bitcoin dropped to a monthly low at $39,000 after a few days of consolidating above the $40,000 mark, there was a growing bearish sentiment regarding its immediate price action. When the bears came out to push bitcoin south, dipping into the 37K – 40K area, some considered it an excellent opportunity to accumulate. High...Read More
