Bitcoin (BTC) briefly crossed the $70,000 mark on Monday morning before dumping to $66,000, but analysts at the crypto exchange Bitfinex say the leading digital asset may pull back even more in the coming days. According to the latest Bitfinex Alpha report, bitcoin’s possible decline may be caused by significant downward pressure on implied volatility...Read More
Bitcoin has lost 5.7% over the past 12 hours or so, dumping $4,000 in a fall from $70,000 to just below $66,000 during early Asian trading on Tuesday, where it found support. However, it remains within a five-month rangebound channel that formed at the end of February. Analysts have been searching for clues to explain...Read More
On-chain analysts just caught the U.S. government moving around $2 billion worth of its massive BTC holdings, sparking market panic that it might be preparing for another sale. Meanwhile, Bitcoin’s price has steadily declined throughout the day, tapping $70,000 at 13:15pm UTC before crashing to $66,900 by 17:26 UTC. At 16:18 UTC, data from Arkham...Read More
Bitcoin neared its all-time high earlier today before it was rejected there. There are several factors at play that have supported the price surge of the flagship crypto asset. For one, bitcoin surpassed the average realized price for short-term investors after soaring well past $63,500, indicating renewed market strength. According to the latest findings by...Read More
Crypto markets have remained relatively stable over the weekend, with total capitalization holding just above $2.5 trillion. Moreover, Friday’s inflation numbers helped markets regain a little ground at the end of last week, with Core PCE coming in line with expectations after a small increase. Digital assets, especially Bitcoin, were also buoyed by Donald Trump’s...Read More
Beginning in early July, the defunct crypto exchange – Mt. Gox – initiated repayments to creditors affected by the 2014 hack. While Kraken has completed the distribution of all the Bitcoin and Bitcoin Cash owed to Mt. Gox creditors, the former’s price remained stable. This could be due to the fact that creditors on Kraken...Read More
Popular crypto analyst Willy Woo has identified an ongoing power tussle (or tug-o-war, in his words) between demand and supply in the Bitcoin ecosystem. In a tweet, Woo outlined three bullish and two bearish factors that could decide bitcoin’s (BTC) price trajectory in the near term. He opined that the bullish signals overpower the bearish...Read More
Bitcoin’s latest uptrend and surge to the $67,000 level have put many investors in the money, with the majority of addresses holding the primary cryptocurrency flashing green. A tweet from IntoTheBlock has revealed that 93% of addresses holding BTC are in profit again. Historical data from the on-chain intelligence platform shows that Bitcoin holders have...Read More
Bitcoin has gained around 17% since last weekend, which equates to around $9,000 over the past seven days or so. The asset was trading below $60,000 last weekend but surged to a six-week high above $68,000 on July 22. What has been driving market momentum for the past week, and will it continue? Bitcoin Is...Read More
Bitcoin could potentially reach a “mid-term” price level above $1 million thanks to a series of hyper-bullish developments around the asset, according to crypto investment firm Mechanism Capital. The company’s co-founder, Andrew Kang, wrote to Twitter on Friday explaining why he thinks Bitcoin is performing “stronger than expected” despite several “poor market structure dynamics” that...Read More
Since last weekend, the price of bitcoin (BTC) has rallied significantly, signaling that the crypto asset may have bottomed out. Bitcoin has recovered to a high of $67,000, although it was hovering around $64,000 at the time of writing. This comes after holders realized their largest losses so far in 2024. CryptoQuant analysts said on-chain...Read More
Despite the lower spot price overnight, data suggests considerable institutional interest in December 2024 $100,000 calls. This indicates an even stronger confidence in a year-end rally for the world’s largest crypto, particularly as the likelihood of former US President Donald Trump’s victory rises. Sizeable Institutional Interest In its latest update, crypto trading firm, QCP Capital...Read More
Bitcoin’s price surged back above $66,000 on Friday, reclaiming its highest market value since early June. The digital asset ripped from $64,102 at 13:27 UTC on Thursday up to $66,472 at 17:00 UTC. It trades for $66,332 at writing time. This is the highest price Bitcoin has achieved since early June, shortly after the Securities...Read More
On July 17, the founder and CEO of on-chain analytics firm CryptoQuant told his 355,000 X followers that the Mt. Gox FUD is overestimated. He referenced a growth rate chart stating that Bitcoin market capitalization increase is outpacing realized capitalization growth, “showing strong demand.” Since last year, $224 billion in Bitcoin sold, yet prices are...Read More
The spot Bitcoin exchange-traded funds (ETFs) offered in the United States have recorded the highest inflow since June 5th. According to public data from SoSoValue, $422 million entered the market on July 16th. This would be the eighth day the investment vehicles would record consecutive inflows. BlackRock Leads the Charge Investment giant BlackRock led the...Read More
The US spot Bitcoin ETFs recorded a daily net inflow of $301 million on July 15th. This extended their winning streak to seven consecutive days amidst a broader market recovery. None of the ETFs recorded outflows for the day. Bitcoin ETFs Rake in $16.11B in Net Inflows Since Jan According to the data compiled by...Read More
On July 16, Mt. Gox began transferring BTC as it prepares to pay back customers who lost assets in the devastating exchange hack a decade ago. According to Arkham Intelligence, a Mt. Gox-linked wallet moved 0.021 BTC to another address. Industry observer Colin Wu suggested that this could be a transfer test. Mt. Gox Moves Bitcoin...Read More
Bitfinex analysts have warned crypto investors to be cautious as bitcoin’s (BTC) recovery over the weekend is not a sign that its correction is over; the asset could witness more bloodshed in the near term. In the latest Bitfinex Alpha report, experts deemed the market’s reaction this week critical, especially as supply alleviated over the...Read More
Just as Bitcoin reclaimed the $63,000 level at the start of this week, Whale Alert has identified the activation of a dormant address containing 1,000 BTC, worth approximately $60 million, on July 15th, after more than a decade of inactivity. This wallet initially received the stash around 11 years and 9 months ago, on September...Read More
Bitcoin has returned to the $63,000 level during early trading on Monday, July 15. This marks a two-week high, prompting some analysts to suggest that the downtrend has broken. : $63,000 #Bitcoin We’re so back! pic.twitter.com/lwusaVmKwL — Lark Davis (@TheCryptoLark) July 15, 2024 On July 15, on-chain analytics platform CryptoQuant suggested that the move has...Read More
Bitcoin (BTC) is currently at a critical point that could determine whether its price will bottom out or decline further in a correction like that seen in the summer of 2021. While some metrics suggest that the leading crypto asset has reached the bottom of its latest correction, others signal that there could be more...Read More
Bitcoin’s correction this month may be short-lived as institutions appear to have taken the drawdown as a juicy buying opportunity, according to on-chain data. The findings arise alongside other blockchain-based signals suggesting that Bitcoin’s price is at an appetizing entry point. Institutions Just Bought The Dip As shared by market intelligence platform CryptoQuant on Thursday,...Read More
Friday, July 12, will see around 23,700 Bitcoin options contracts with a notional value of around $1.49 billion. The options expiry event is of similar magnitude to last week’s which did not have much impact on spot markets. They have been down-trending due to BTC selling pressure from miners, the German government, and Mt. Gox...Read More
Bitcoin has experienced its most significant decline in the current cycle and is currently trading at over 25% lower than its all-time high. Data also suggests that BTC’s current dip period has sparked contrasting behaviors among investors with whale and shark wallets, depicting a different pattern than the smaller holders. Bitcoin’s Big Wallets Increasing The...Read More
The US spot Bitcoin exchange-traded funds (ETFs) saw nearly $295 million in net inflows on July 8th. This represented significant buying activity, which was last seen in June, when Bitcoin was hovering above $70,000. Notably, major funds have appeared to have made a comeback despite Bitcoin struggling with downward pressure. BlackRock’s IBIT Tops ETF Inflows...Read More
Although bitcoin (BTC) has fallen to its lowest level since February 26 and has hovered around the $57,000 range over the last few days amid high volatility, Bitfinex analysts have seen on-chain signs that the leading crypto asset may not record any more dumps. According to this week’s edition of the Bitfinex Alpha report, market...Read More
Bitcoin prices could potentially drop to around $47,000 in this market correction, according to technical analyst Willy Woo. That scenario would result in an overall retrace of 36%, which is also not unheard of in bull market cycles. On July 8, Woo posted a market overview to his 1.1 million followers on X, concluding that...Read More
Bitcoin is currently down 23% from its peak price, with most of those losses coming over the past week. The summer crash had been predicted on the premise that the four-year cycle was too early to peak. On July 7, market analyst Benjamin Cowen eyed the Bitcoin bull market support band (BMSB) as a key...Read More
Crypto markets have spent the weekend relatively flat, having failed to recover anything from last week’s $300 billion crash. Moreover, investors will closely watch this week’s Consumer Price Index report, as it is a key indicator of inflation that could signal the direction of economic recovery. Economic Calendar June 8-12 Fed chair Jerome Powell will testify...Read More
After a decade of waiting, July might finally bring restitution to the users of the now-defunct Mt. Gox exchange. However, it appears that market players are on edge regarding the distributions and fear further sell-offs. It is important to understand that Bitcoin has already been on a decline since the beginning of June and has...Read More
