A key metric that indicates US investors’ interest in bitcoin turned negative on Friday. Experts, however, believe that this flip could positively affect BTC’s price. Coinbase Bitcoin Premium Records Negative Value According to a report by a CryptoQuant analyst, the Coinbase Premium recently recorded a significant negative value. The Coinbase Premium Index is an indicator...Read More
Despite a slowdown in Bitcoin (BTC) whale accumulation, the weekly net flows among these large holders (addresses with at least 1,000 BTC) have remained positive for nearly four months. Positive net flows indicate that more BTC is entering these wallets than leaving, suggesting potential buying pressure, while negative net flows mean more BTC is flowing...Read More
BTC has gained almost 5% over the past 12 hours, topping $62,000 for the first time in more than three weeks. The asset climbed from an intraday low of $59,200 to tap $62,600 before retreating slightly during the Wednesday morning Asian trading session. In a post on X on Sept. 19, crypto analyst ‘Nebraskangooner’ called...Read More
Anthony Scaramucci, the founder of the investment firm SkyBridge Capital, has backed his prediction that bitcoin (BTC) will reach $100,000 before the end of the year with two potential drivers. In a Wednesday interview with Bloomberg, Scaramucci cited interest-rate cuts and more precise crypto regulation after the November election in the United States as crucial...Read More
Bitcoin has been trading sideways since March, and the third quarter, especially September, has traditionally been a bearish period. With the month and quarter approaching the end, analysts are turning bullish again, predicting a long-awaited breakout for BTC and crypto markets. On Sept. 18, analyst ‘RamenPanda’ observed that markets have spent six months going sideways,...Read More
While bitcoin (BTC) faces local resistance levels, the crypto asset is experiencing a rally driven by aggressive spot market activity. According to a Bitfinex Alpha report, on-chain metrics suggest bitcoin’s momentum is currently bullish. This outlook is also reinforced by rising inflows into the United States spot Bitcoin exchange-traded funds (ETFs), signaling growing confidence among...Read More
Typically, a greater flow of new dollars to target lower interest rates inflates the prices of equities and fixed-income bonds. Since the advent of cryptocurrencies, financial markets have found that this new asset class is especially responsive to interest rates and bears an inverse correlation to them. Correlation Spotted: Bitcoin and Interest Rates A recent...Read More
On Sept. 16, Bitcoin dominance hit 58%, according to Tradingview. This is the highest it has been since April 2021, following almost two years of steadily increasing. BTC dominance was below 40% in November 2022 following the collapse of FTX, which sent the asset tumbling to a low of $16,000 in the brutal bear market...Read More
The US central bank is widely expected to start cutting interest rates this week. However, uncertainty remains over whether it will opt for a small or a big reduction. Interest rate decisions are also due in the United Kingdom, Brazil, Norway, Turkey, and South Africa. The Japanese and Chinese central banks also take center stage...Read More
The price of bitcoin (BTC) has entered a bearish phase, stemming from the asset’s constant decline and range-bound movement. As a result, the largest cryptocurrency has decoupled from gold. According to CryptoQuant analysts, bitcoin’s price has been declining while the yellow metal has rallied to new record highs, causing their correlation to turn negative. Bitcoin...Read More
Steven Lubka, head of private clients and family offices at Swan Bitcoin said in recent remarks to CNBC, “Do I think we’ll be in the six figures by 2025? Almost certainly. Do I think we’ll be in the six figures regardless of who wins? Almost certainly.” That may be assuring to fast-moving crypto markets that...Read More
Over the past two to three days, positive sentiment across the Bitcoin market suddenly surged to a level not seen in more than a year. While this may seem like a bullish sign, analysts have warned that it is concerning. According to a tweet by the market intelligence platform Santiment, the sudden optimism from the...Read More
Michael Saylor, the co-founder and current chairman of MicroStrategy, announced the latest massive BTC purchase his company made. With it, the business intelligence software giant’s total Bitcoin stash skyrocketed to 244,800 BTC, worth more than $14 billion at current prices. MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved...Read More
Bitcoin (BTC) is on track to hit new all-time highs by the end of 2024, according to Standard Chartered. In the view of the bank’s global head of digital assets, Geoff Kendrick, who is quoted in a recent CoinDesk report, Bitcoin could climb to $125,000 if former U.S. President Donald Trump wins the upcoming election...Read More
September has turned out to be a highly volatile month for bitcoin so far, as the asset has gone through several ups and downs, including yesterday’s impressive surge to over $58,000. However, BTC could be on the verge of yet another rally, given the substantial outflows from exchanges, which recently hit a multi-month high. $750M...Read More
In the past two weeks, bitcoin has experienced a market correction of around 11% and even more evident volatile rides. Although the leading crypto asset recently briefly rebounded to $58,000, its price still has a long way to go before it regains its all-time high levels. On-chain data from the blockchain market intelligence firm Santiment...Read More
The current market condition has raised speculation among market participants about the short-term price trajectory of the asset class. Slowing crypto adoption and a tough macro environment have caused traders to wonder if this is the start of a bear market or just a quiet phase in this bull cycle. IntoTheBlock said analysts noted that...Read More
A higher low happens in a down-trending market when the last dip is not as deep as the previous one. This could be a sign of trend reversal as selling pressure wanes. The last dip saw BTC prices plunge to a low of $53,300, which was not as deep as the Aug. 5 crash to...Read More
Bitcoin’s price continues to show high levels of correlations with the landscape around the spot ETFs. This was further proven by the price actions on Monday evening. BTC jumped to over $58,000 for the first time in five days as the ETFs broke a two-week-long streak. Over the weekend, CryptoPotato reported the negative streak the...Read More
On Sept. 9, crypto trader and analyst ‘Daan Crypto Trades’ told his 382,000 X followers that this cycle is not like previous ones as BTC made a new high before the halving but has stalled since. However, it is still ahead of where previous cycles would be relative to those highs, he said before adding:...Read More
Last week was a brutal one for crypto markets, with losses extending into the weekend. A raft of employment data out of the US didn’t prevent stock markets from falling either, as ‘Slumptember’ lives up to its name. This week will be heavy on inflation data with additional reports on jobless claims. “This is the final...Read More
Bitcoin’s market price on crypto exchanges fell to its lowest price since the early August massacre when it dumped below $50,000 for the first time since the spot Bitcoin ETFs were greenlighted in the US and started seeing actual demand. BTC bounced off the previous such crash and even soared to $65,000 weeks later. However,...Read More
While the crypto market remains unpredictable and continues dipping, large investors are not relenting in their activities. Analysis by data intelligence firm Santiment has disclosed the top ten crypto projects with the highest increase in whale activity. In this context, whales refer to investors executing transactions valued at $100,000 or more. Crypto markets may be...Read More
Bitcoin’s price collapsed on Friday below $53,000, reaching its lowest level since the “Black Monday” following macroeconomic shakeups in early August. The collapse appears to have fully corroborated the prediction of BitMEX co-founder Arthur Hayes, who believes there could still be more pain to come for crypto holders. Bitcoin traded for $56,925 at 1:25 PM...Read More
The percentage of Bitcoin Unspent Transaction Outputs (UTXOs) in profit has fallen to its lowest level this year, last seen in October 2023. This decline in this metric aligns with the current plunge in bitcoin’s (BTC) price and the downward trajectory of the broader crypto market. According to a report by CryptoQuant analyst EgyHash, this...Read More
It’s no secret anymore that the 2024 bull run has been quite different than previous ones, at least in terms of when the all-time high came and how BTC has moved post-halving. The past week or so has not been kind to the asset as it dumped to a monthly low of $55,300. Are the...Read More
The Bitcoin market correction, which has been ongoing for the past six months, is currently around 23%, which isn’t too deep historically. However, analysts are growing increasingly bearish the longer this downtrend continues. In a post on X on Sept. 5, trader ‘Crypto Louca’ predicted that Bitcoin price will continue to retreat this year, falling...Read More
In a post on X on Sept. 4, the American billionaire businessman said that Bitcoin has been an outsider to the TradFi community over the past five years, and it’s only now “dipping its toe into global finance.” He added that his firm, Cantor Fitzgerald, will help the traditional finance sector onboard Bitcoin as it...Read More
Bitcoin (BTC) has witnessed weak momentum over the past weeks, ranging between $55,000 and $65,000. The leading cryptocurrency has struggled to return to the $70,000 level, much less rallying to a new all-time high (ATH). Analysts at IntoTheBlock said BTC has been unsuccessful in its attempts to surge to a new peak because a large...Read More
Stock markets and crypto assets are in meltdown mode again, as billions have been wiped out over the past day. The “Magnificent 7” high-flying tech stocks have erased $550 billion in market capitalization on Sept. 3. The group includes Google parent Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, which have outpaced the rest of the...Read More
