American broadcaster and Bitcoin proponent Max Keiser believes the stablecoin issuer Tether and El Salvador, as well as the declining United States dollar (USD), will push BTC’s price to $220,000 in no distant time. In a Saturday tweet, Keiser said the USD is doomed because inflation will “sky harder,” while this happens, BTC will be...Read More
Bitcoin (BTC) network activity has significantly declined in the creation of new addresses, hitting its lowest point since July 2018. Despite this, though, BTC is trading around $67,000 after gaining over 7% in the past week. Bitcoin Network Activity Declines Data from the market intelligence platform IntoTheBlock reveals a 7-day average of only 276,000 new...Read More
In the short term, the Bitcoin price appears to have been stuck within a range, but in the long term, the token is following a pre-programmed upswing. After the well-known rebound from levels below $60,000, the price is following a notable ascending trend, which appears to have revived a strong bullish trajectory within the markets....Read More
The price of bitcoin (BTC) has surged past the $60,000 level to the $67,000 zone due to news of a lower-than-expected inflation rate in the United States. According to the latest CryptoQuant weekly report, bitcoin’s latest rally has also been sustained by a recent decline in selling pressure. However, demand for the cryptocurrency has yet...Read More
Bitcoin keeps touching new levels of adoption in the real world, with traditional finance (TradFi) firms embracing the digital asset at a remarkable pace. The significant investment in spot Bitcoin exchange-traded funds (ETFs) signifies growing institutional interest in crypto assets. Last quarter, a staggering number of U.S. banks, investment managers, hedge funds, and professional firms...Read More
By examining the processing speed of the largest blockchain networks in terms of total value locked on DeFiLlama, CoinGecko outlined the fastest based on the actual and realized transactions-per-speed (TPS) metric. The report concluded that Solana leads the way, followed by Sui and the Binance Smart Chain. Interestingly, Ethereum and Bitcoin are not even in...Read More
Since 2021 when El Salvador began validating Bitcoin blocks with volcanic energy, the Central American country has mined 474 BTC worth approximately $29.6 million at current prices. According to a Reuters report, El Salvador mined the cryptocurrencies using a geothermal power plant fueled by the Tecapa volcano in the nation’s east central region. El Salvador...Read More
U.S. Senator Cynthia Lummis recently posted “Bitcoin laser eyes” on X, showing her support for laws supporting the cryptocurrency. The move follows the passing of legislation H.J.Res. 109 in the Senate, which aims to overturn the SEC’s Staff Accounting Bulletin (SAB) No. 121. Senator Lummis Advocates for Bitcoin Legislation U.S. Senator Cynthia Lummis, representing Wyoming,...Read More
The crypto market is rife with greed again following bitcoin’s (BTC) latest rally to a three-week high of over $66,000. Data from Alternative.me shows the Crypto Fear and Greed Index is currently as high as 74, indicating a period of greed among digital asset investors. Crypto Investors Are Greedy The surge in crypto market sentiment...Read More
Coinbase became arguably the most important crypto player in the US this year as numerous ETF providers, including BlackRock, chose the platform to serve as custodian to their Bitcoin exchange-traded funds. Adding the overall bull run for the entire market resulted in positive price movements for its shares, which jumped to over $250 earlier this...Read More
QCP Capital has forecasted a bullish momentum that could see bitcoin reach its previous highs of $74,000 in the next few months. This follows a surge in BTC’s price on May 15th, fueled by growing ETF inflows and the April Consumer Price Index (CPI), which indicated a slight decrease in inflation from the previous month....Read More
Bitcoin has continued to gain mainstream adoption, with major corporations and top industry dogs incorporating the digital asset into their long-term financial strategies. Metaplanet, a Japanese investment and consulting company listed on the Tokyo Stock Exchange, is the most recent firm to make such a remarkable move. Metaplanet Makes Bitcoin Reserve Asset According to an...Read More
Digital assets investments said the first inflow in five weeks with $130 million of net gains over the past week. Interestingly, the lack of action from US regulators regarding spot Ethereum ETF applications has sparked speculation that approval won’t happen soon, and this has resulted in significant outflows for Ethereum in the same timeframe. Investors...Read More
While the crypto market is far from its March peak, analysts say the fundamentals of the Bitcoin network remain strong. According to the latest Bitfinex Alpha report, Bitcoin’s foundational strength is underscored by key factors like the steadfastness of long-term holders and the plunge in mining difficulty. These factors indicate that the network is positioned...Read More
Crypto asset management giant Grayscale says there’s a “renaissance” in Bitcoin development, with several new Layer 2s (L2s) worthy of keeping an eye on. In a new investor report, Grayscale analyst Michael Zhao argued how these technologies may both bring new use cases to Bitcoin and foster more market demand for BTC. Rollups On Bitcoin...Read More
The crypto whale who lost $71 million worth of wrapped bitcoins (WBTC) via a dusting attack has recovered the stolen funds after negotiations with the hacker. According to a tweet by blockchain security firm PeckShield, the scammer began returning the funds on May 9 and completed the process on May 11. Stealing $71M WBTC The...Read More
Since its much-hyped debut during the latest Bitcoin halving, activity on the Runes protocol has experienced a significant downturn. The protocol, which allows users to create fungible tokens on the Bitcoin blockchain, saw a surge in transactions initially but has since declined in activity, particularly on May 10. Runes Protocol Decline According to data from...Read More
Bitcoin worth over $60 million has been transferred from dormant wallets that have remained inactive for over a decade. The transfer, which occurred yesterday, involved the movement of 1,000 BTC, valued at $62.8 million according to current prices. Dormant Addresses Move BTC Worth $62.8 Million According to on-chain data, two Bitcoin wallet addresses, dormant since...Read More
Robert Kiyosaki has become one of the most vocal supporters of ‘real money,’ as he calls it, that includes gold, silver, and bitcoin. Simultaneously, he continues to bash ‘fake money’ like the US dollars. During his latest warning, Kiyosaki asserted that a potential gold-backed stablecoin launched by the countries in BRICS could lead to hyperinflation...Read More
The Bitcoin kimchi premium in South Korea has plummeted significantly amid a broader market decline, signifying weakened enthusiasm among digital asset investors in the country. According to data from CryptoQuant, the Bitcoin kimchi premium slumped to 1.5% on Friday during the afternoon trading session in Asia. Bitcoin Kimchi Premium Slumps For the uninitiated, the kimchi...Read More
Crypto analyst Crypto Jebb has identified a significant chart pattern on Bitcoin that could potentially propel its price to $75,000. In a recent video, Jebb discusses the emergence of an inverse Head and Shoulders pattern, signalling a possible rally for the leading cryptocurrency. The inverse Head and Shoulders pattern, according to Jebb, presents a bullish...Read More
The Bitcoin network’s mining difficulty has experienced its largest negative adjustment since December 2022, when the bear market was in full gear. According to data from the real-time Bitcoin dashboard Bitbo, the mining difficulty fell 5.7% to 83.1 trillion on Thursday at block height 842,688. Bitcoin Mining Difficulty Negatively Adjusts Bitcoin’s mining difficulty measures how...Read More
Bitcoin prices have remained tightly rangebound since their return above the psychological $60,000 level on May 3. However, one prominent analyst sees the asset potentially recovering the $70,000 level this month, a price it has not seen since April 12. BTC to Climb Higher? On May 8, Adrian Zduńczyk, aka “crypto_birb,” told his 652,000 X...Read More
Hong Kong’s Bitcoin ETFs experienced their first setback after launching on April 30, following their first cumulative daily BTC outflows on Monday. The outflow came from the China Asset Management Bitcoin ETF, while the other Hong Kong-based products had no flows. Hong Kong ETFs See Modest Inflows According to Farside data, the China AMC Bitcoin...Read More
According to data from Kaiko, a bullish bias persists for Bitcoin options despite the recent market volatility. Last week, Bitcoin experienced volatility, briefly dipping below the $57,000 mark before experiencing a weekend rebound fueled by easing concerns over Fed interest rates. Bullish Shift in the Bitcoin Options Market The decline in Bitcoin’s price last week...Read More
A bitcoin (BTC) price recovery may happen sooner than expected because selling pressure from market participants may be slowing down. The latest weekly report from the crypto exchange Bitfinex revealed that some on-chain indicators suggest that selling pressure from short-term holders may be waning. Bitcoin Selling Pressure May Be Waning Since BTC hit its all-time...Read More
Analyst Davinci shared his analysis of the current state of the cryptocurrency market, particularly focusing on Bitcoin’s price action. Davinci warned about Bitcoin’s recent price surge to $64,000, suggesting it could be a “bull trap.” “While I believe Bitcoin could eventually reach $100,000, $200,000, or even $300,000 in the long term, I foresee significant volatility...Read More
Analysts at investment research firm Bernstein have reaffirmed their prediction that bitcoin (BTC) would hit $150,000 in this bull cycle despite the asset’s retracement in recent weeks. According to a recent report, Bernstein analysts Gautam Chhugani and Mahika Sapra said Bitcoin metrics show the network is in a healthy cycle still in its early stages....Read More
The Bitcoin network has achieved a new milestone: one billion processed transactions, 15 years, four months, and four days after its genesis block was mined. According to data on Clark Moody’s Bitcoin dashboard, the one billionth transaction was mined into block 842,241 on May 5 at 9:34 pm UTC. Bitcoin Process One Billion Transactions Bitcoin’s...Read More
Crypto markets are super volatile at the moment. Although the prices of the popular tokens remain within a descending trend, the likelihood of a fine upswing continues to hold upright. The start of the year was extremely bullish, as the markets were screaming for more upside. Further, two months down the line, the altcoins went...Read More
