Bitcoin fell 2.5% on Wednesday to $59.100 after the U.S. government moved more of its Silk Road-affiliated Bitcoin holdings to Coinbase Prime. On-chain analysis platform Arkham Intelligence flagged the move on Wednesday, noting that 10,000 BTC worth $593 million had been moved. “Wallet bc1ql received 10K BTC from a known US Government wallet 2 weeks...Read More
On-chain analysis platform Arkham Intelligence sounded the alarm on Tuesday as $2 billion worth of Bitcoin connected to Mt. Gox moved from a blockchain address connected to crypto exchange BitGo. According to Arkham, a wallet that had received $2.19 billion from the long-defunct Bitcoin exchange began initiating test transactions early Tuesday. The firm said the...Read More
The cryptocurrency market is facing a growing liquidity crisis, as evidenced by the significant price slippages observed during recent sell-offs. According to research by Kaiko, the ongoing issue of liquidity fragmentation across crypto exchanges has resulted in noticeable price discrepancies, particularly during periods of market stress. Price Slippage Liquidity fragmentation refers to the uneven distribution...Read More
Bitcoin (BTC), the world’s biggest cryptocurrency by market capitalization looks bearish and may crash once again. Today, on August 13, 2024, a prominent trader made a post on X (previously Twitter) that Bitcoin Whales have offloaded a significant Bitcoin as its price fell below $60,000. Why Bitcoin Can Crash? According to the post on X,...Read More
The current market condition has put many new Bitcoin investors under financial stress. This is evident in several metrics that indicate a bearish environment and highlight factors that can intensify market volatility, increase selling pressure, and lead to further price declines. According to a Bitfinex Alpha report, metrics like the Short-Term Holder MVRV (Market Value...Read More
Ethereum has seen the greatest advantage from the recent market downturn as investors appeared to have viewed the price weakness as a buying opportunity. In fact, data suggests that Ethereum has managed to attract $155 million in inflows over the past week. According to CoinShares, the latest round of inflows boosted its year-to-date total inflows...Read More
Bitcoin mining firm Marathon Digital Holdings has announced plans for a $250 million offering of convertible senior notes due in 2031. The latest private offering is targeted at “qualified institutional buyers.” The firm aims to use the proceeds for the acquisition of Bitcoin as well as corporate growth. The company also has the option to...Read More
Bitcoin (BTC) the world’s biggest cryptocurrency has maintained its position above the $60,000 level for four consecutive trading days and is currently consolidating within a tight range. Amid this consolidation, Justin Sun the founder of HTX and TRON has gathered widespread attention due to his significant BTC transfer to Binance. Justin Sun moved $30 million...Read More
At one of Berkshire’s world-famous annual shareholder meetings in Omaha during the late 1990s, Munger said, “The first $100,000 is a b——, but you gotta do it.” “I don’t care what you have to do. If it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get...Read More
According to Grayscale Research, Bitcoin might revisit its all-time high later this year if the U.S. economy avoids a recession. This optimistic outlook follows a period of stabilization in both crypto assets and broader financial markets, which had faced sharp declines from Friday, August 2, through Monday, August 5. Grayscale Predicts Bitcoin Rally In an...Read More
Japanese investment firm Metaplanet has secured a $6.8 million loan (1 billion Japanese yen) from one of its shareholders, MMXX Ventures, to increase its Bitcoin holdings. This move follows Metaplanet’s recent announcement to raise $70 million through a stock rights offering, with $58 million earmarked for Bitcoin investments. Metaplanet to Fund Bitcoin Investments Metaplanet’s loan...Read More
Bitcoin mining is not boiling the ocean, said Michael Saylor during the Aug. 7 interview on “Bloomberg Open Interest.” However, the asset sure is boiling the MicroStrategy founder’s blood for a future-proof finance platform. Bloomberg Television’s Sonali Basak asked the insatiable Bitcoin custodian, “Beyond MicroStrategy, how do you hold Bitcoin personally? Do you have a...Read More
On August 7, 2024, during an interview with Bloomberg, Micheal Saylor, the executive chairman and founder of MicroStrategy said there’s never a bad time to buy Bitcoin (BTC). He also added, “We believe in buying Bitcoin whenever we have cash or whenever we can raise money in the capital market.” Micheal Saylor’s words on Bitcoin...Read More
After 11 years of dormancy, a Bitcoin wallet belonging to a miner, dating back to the Satoshi era in 2010, has come back to life. This entity suddenly became active on August 7 and transferred 250 BTC, worth approximately $13.95 million, to five new wallets. Historic Bitcoin Wallet From 2010 Awaken According to the latest...Read More
Bitcoin whales have been actively accumulating significant amounts of the cryptocurrency over the past month during the market slump. On-chain activity has revealed that over 404,448 BTC, valued at approximately $22.8 billion, has been moved to permanent holder addresses in the last 30 days. Bitcoin Whale Accumulation CryptoQuant founder and CEO Ki Young Ju highlighted...Read More
CryptoQuant CEO Ki Young Ju predicts that if bitcoin’s price remains above $45,000, it could surpass its all-time high within a year. His optimism persists in the crypto market even as some bearish indicators loom in the broader financial markets following bitcoin’s rebound from the Monday lows. Ki Young Ju Predicts Bitcoin Recovery Ki Young...Read More
The ongoing turmoil in the Japanese and United States stock markets has triggered heightened volatility in the crypto space. This highlights the interconnectedness of global markets and Bitcoin’s growing correlation with traditional finance (TradFi) markets. Analysts at the crypto exchange Bitfinex explained in the latest Alpha report that Bitcoin’s rising correlation with TradFi markets could...Read More
Bitcoin treasury firm Semler Scientific has added another $6 million in Bitcoin to its balance sheet, comprising more than the entirety of the medical company’s Q2 earnings. The purchase reflects an ongoing commitment to Semler’s Bitcoin acquisition strategy despite the asset recently tapping its lowest price level since February. Semler Scientific Buys More Bitcoin In...Read More
Global asset markets went risk-off in a brisk tumble the first week in August. Fears of a U.S. recession put an end to Wall Street’s 23-month, high-flying stock rally. The U.S. “Magnificent Seven” stocks lost a trillion dollars in value in mere days, with Nvidia and Apple leading the bleeding. The Tokyo Stock Exchange’s Nikkei...Read More
A recent report by Galaxy Research has raised concerns about the long-term sustainability of Bitcoin Layer-2 (L2) scaling solutions, particularly rollups, which have gained popularity as a means to keep transactions cheap, fast, and decentralized. Despite the initial promise, the report suggests that these solutions may face economic challenges due to the inherent limitations and...Read More
Bitwise CIO Matt Hougan said Monday that he views the weekend’s violent selloff in crypto/equities as a Bitcoin buying opportunity. In a Twitter thread Monday, the executive likened the market crash to March 12, 2020 – a day of “chaos” that pre-empted historic new highs for crypto over the following months. Bitcoin Buying Opportunity, Says...Read More
The weekend has been characterized by a rollercoaster of emotions for the crypto community, with fear gripping investors who are concerned about the latest market conditions. According to current data from Alternative.me, the Crypto Fear & Greed Index sat at 26/100, signaling fear among investors. If the market condition worsens, the indicator may inch closer...Read More
Bitcoin’s 24-hour bloodbath has reduced the number of its investors in profit. According to data from blockchain analytics platform IntoTheBlock, the percentage of BTC holders in the green has crashed from 93% in late July to 75% at the time of writing. The significant decline in BTC profitable holders comes as the leading cryptocurrency crashed...Read More
Jan van Eck, the CEO of VanEck, recently made some bold predictions about Bitcoin. He thinks Bitcoin might hit $350,000 in a near future. What makes him think that? Van Eck says Bitcoin could reach half of gold’s total market value. He also thinks Bitcoin’s future could be even brighter, with a potential price of...Read More
Bitcoin (BTC) could be seeing less selling pressure from miners in the near term due to an increase in the profitability of this cohort of market participants and the recovery of their hashrate following the cryptocurrency’s rally to the $69,000 range. According to a CryptoQuant report, the Bitcoin network hashrate recovered while BTC had its...Read More
MicroStrategy, the world’s largest public Bitcoin holder, has announced plans to raise up to $2 billion through the sale of its class A shares. The company made this revelation in a regulatory filing with the U.S. Securities and Exchange Commission on August 1. Details From the Filing MicroStrategy has not disclosed the specific timeline for...Read More
On August 1, MicroStrategy founder Michael Saylor announced that in July, the firm acquired an additional 169 BTC for $11.4 million and now holds a total of 226,500 BTC. The company continues to focus on its bitcoin acquisition strategy. However, it faced significant impairment losses due to BTC price fluctuations, resulting in a second consecutive...Read More
Pro-crypto Wyoming Senator Cynthia Lummis unveiled her Bitcoin bill on July 31, labeling it “our Louisiana Purchase moment.” The proposed ‘Bitcoin Act’ aims to add 1 million BTC, worth around $64 billion at current prices, to U.S. government holdings over five years. The legislation aims to establish a strategic Bitcoin reserve and other programs: “To...Read More
Following the Bitcoin2024 conference, Bitwise CIO Matt Hougan has issued a bold call to crypto investors, urging them to rethink BTC’s potential upside. According to Hougan, the market is “not bullish enough” about the flagship cryptocurrency, and recent developments at the conference have highlighted a shift that could impact Bitcoin’s future value. Political Figures Support...Read More
Matrixport’s recent report highlights bitcoin’s impressive performance, outpacing the Nasdaq Index by 73% over the past two years. The company emphasized on X that Bitcoin is increasingly seen as a strategic investment, offering diversification and risk mitigation in investment portfolios, as well as representing a stake in the future of technology. Bitcoin Outperforms Nasdaq Index...Read More
