A few hours ago during early trading in Asia, Bitcoin prices tapped $47,200 according to Tradingview. It is the highest the asset has changed hands for since May 15. The move has built upon the momentum that began in late July when BTC broke out of its range-bound channel to the upside. At the time...Read More
There has been a fair bit of profit-taking since Bitcoin prices topped $42K over the weekend. The asset has declined 9% since then, and on-chain behavior can be analyzed to get a better outlook on overall market sentiment. Analytics provider Glassnode has been doing just that in its latest on-chain report. The key question is...Read More
Though the Justice Department declined to comment for the article, Bloomberg was able to report last week that the DOJ is investigating U.S. banks and the backers of popular stablecoin USDT. There is some ongoing speculation about how this might affect bitcoin’s price. What’s Supposedly Going on With Tether and the DOJ? The Justice Department...Read More
Bitcoin has initiated another leg up, resulting in charting a new two-month high of just over $42,000. Apart from Chainlink, most alternative coins trail behind, and BTC’s market dominance has increased to well above 48%. Bitcoin Taps a 2-Month High As reported earlier this week, bitcoin went on a tear after dabbling with the $33,000...Read More
Going through the recent week and touching the $40K mark, there are some promising signs in on-chain data that could lead to a further price recovery in the market. However, some metrics still make an immediate rally back to the all-time high a questionable probability. Let’s explore the bull and the bear case for Bitcoin’s...Read More
Bitcoin Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday. Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level...Read More
BTC’s recent 9 daily candle streak to the upside has been very impressive. We have been tracking the third-largest BTC whale wallet and found interesting activity and signals. The whale entity, at one point, held over 116,841 BTC. Its current total BTC holdings stand at 113,841. The recent sales from this address since April 2021...Read More
After gaining $6,000 in a few days, bitcoin’s price has calmed around the coveted $40,000 mark. Some alternative coins have outperformed their leader in the past 24 hours with notable gains from XRP, UNI, LINK, and SOL. SOL Rises 14% as ETH Touches $2.4K The past several days have been highly bullish for the alternative...Read More
According to data from on-chain analytics provider Glassnode, Bitcoin exchange balances have dropped to the lowest levels since the deep crypto winter of late 2018. Market analyst, Will Clemente, has observed the metric noting there have been two more large outflows over the past 24 hours. “Two massive outflows today: one worth 23,530 BTC this...Read More
Bitcoin is up by an impressive 22% this week as it currently battles with the $40K resistance area. As mentioned before, for the past two months, bitcoin’s price was trading between $30K and 42K. This week saw its highest point since June 15 ($41.3K according to BItstamp). The past week has been promising for BTC,...Read More
PlanB, a quantitative Bitcoin analyst and the creator of the popular stock-to-flow (S2F) model, is still very much bullish about the future of the leading cryptocurrency. The drop in bitcoin’s price within the last three months has raised many questions among crypto traders and analysts on whether or not the bull market is still intact....Read More
New data from Cambridge University shows that the geography of Bitcoin mining has drastically changed over the last six months in the wake of China’s massive crackdown. CNBC has been gathering the opinions of industry experts to get their take on the great miner migration and how it has altered the environmental impact of the...Read More
After another week of consolidation for bitcoin, with a drawdown to $31k, investors look to the weekend for a sigh of relief as the GBTC shares unlock continues. On-chain analysts detected an unusually large inflow of 41,000 BTC over a few transactions into Coinbase Pro Exchange, in just one hour. The immediate reaction from Crypto...Read More
It was a tough week price-wise in the cryptocurrency market. The total capitalization lost around $100 billion as every single coin from the top 20 is in the red. Some lost more than others, but we’ll get to that later. Kicking it off with Bitcoin. It had a relatively calm week, and even though it’s...Read More
On-chain analytics provider, Glassnode, has detailed the current state of the Bitcoin network which appears to be fundamentally strong, despite the lethargic price action. Labeling it an “impressively quiet week” the company confirmed that volatility is diminishing as BTC remained range bound between roughly $34,900 and $32,500. “It is starting to feel like the calm...Read More
CryptoPotato had the opportunity to host a discussion with Lennix Lai – the Financial Markets Director at OKEx. Established in 2017, OKEx is one of the leading cryptocurrency exchanges in the world by means of trading volume and is also a big player in China. We took the opportunity to discuss, first hand, what’s currently...Read More
With Grayscale Bitcoin Trust (GBTC) biggest BTC unlocking event scheduled to happen in the middle of July, many market analysts and traders are worried about the potential effects of this event on bitcoin’s price and the crypto market in general. However, crypto trading firm, QCP Capital, believes the unlocking will not pose any significant threat...Read More
BTC continues the drawn-out phase of consolidation as it trades sideways inside a short-term symmetrical triangle pattern. It looks as BTC awaits the next huge move as the apex of the triangle draws near – in a matter of days or even hours, and the trading volume decreases, which typically happens before a massive move....Read More
Bitcoin investors have halted depositing their assets onto cryptocurrency exchanges and have actually started to withdraw substantial quantities, says on-chain data. Furthermore, it showed that most of the withdrawals came from retail investors, but whales and institutions have also accumulated BTC lately. Exchange Withdrawals to Early Highs Data from CryptoQuant highlighted the recent trends in...Read More
The People’s Bank of China has shut down a local firm suspected of providing various software services to cryptocurrency businesses. As it happened during previous negative actions, the price of bitcoin fell rapidly after the news broke. In the latest statement on the matter, China’s central bank has closed down a firm called Beijing Tongdao...Read More
Following another drop to around $33,000, bitcoin has bounced off and neared $35,000 once again. The alternative coins, especially some connected to the DeFi sector, have seen more substantial gains, with Uniswap rising 11% and Aave and Compound jumping by more than 20%. DeFi Coins Surge by Double-Digits After marking minor losses yesterday, most of...Read More
Outspoken analyst ‘Mr. Whale’ [@CryptoWhale] has declared that current market conditions indicate that a bear market is imminent. In a tweet on July 6, the analyst stated that Bitcoin’s inability to make new highs in more than 80 days is “confirmation that the bull market is over.” “Never in any bull market in Bitcoin’s entire...Read More
Following the positive weekend in terms of trading action, bitcoin has retraced by a few thousand dollars to just above $34,000. Most altcoins have also failed to continue upwards as ETH has dipped below $2,300, and BNB is close to breaking beneath $300. Bitcoin’s Trading Volume Drops as BTC Retraces Bitcoin proved most assumptions wrong...Read More
On-chain data analysis firm Santiment reported that whales purchased 60,000 BTC in one day, making it the biggest daily accumulation this year. Bitcoin whales, in this context, are those big investors and institutions holding between 100 to 10,000 bitcoins in a single address. According to Santiment, these addresses currently hold a combined 9.12M bitcoins –...Read More
Bitcoin price is up a robust 8.5% from the July low of $32,700, recorded both on Thursday and Friday. The coin surged over $3K over the past two days, breaking above the 20-day moving average line at $34.9K, and is now facing a combination of significant resistance on the daily timeframe. The major resistance is...Read More
Bitcoin’s weekend struggles seem to be nowhere near as the cryptocurrency initiated another leg up and reclaimed $35,000. Most of the altcoins have charted gains as well, with Ethereum jumping above $2,300 for the first time since mid-June. Bitcoin Reconquers $35K After the volatile week in which BTC reached a multi-day high of $36,600 and...Read More
Bitcoin’s bull run hasn’t ended, and its price could increase by more than 40% by the end of August, asserted the creator of the popular stock-to-flow model. He also predicted that the next few months will be make it or break it for the S2F. Over the course of the past few months, bitcoin’s price...Read More
Dawn Fitzpatrick, the CIO of Soros Fund Management who said crypto was at an “inflection point” earlier this year, approved the trading of Bitcoin and possibly other cryptocurrencies. Financial news website TheStreet reported that “people familiar with the matter” speaking on condition of anonymity, stated that Fitzpatrick and her team have been exploring crypto assets...Read More
With bitcoin’s price recovering more than $5,000 in a few days and heading towards a multi-day high, bulls have received further support that the asset may aim even further north. The popular Puell Multiple metric has displayed a buy signal for just the fifth time, with every previous occasion being “spot on,” according to analysts....Read More
After the enhanced volatility in the past few days in which BTC displayed several multi-thousand dollar moves, the cryptocurrency has calmed around $35,000. Some altcoins have charted more significant gains, with ETH reclaiming $2,100 and DOT surging 6%. ETH Above $2,100; DOT Reconquers $16 The alternative coins mimicked BTC’s performance in the past several days...Read More
