Bitcoin (BTC) is experiencing a positive momentum that has pushed it very close to its all-time high of $73,750. The leading crypto asset came a couple of hundred dollars away from crushing that milestone on October 29. However, it recorded a small correction, and is currently trading at $72,200. While crypto enthusiasts anticipate a new...Read More
Bitcoin (BTC) recorded significant gains recently, but that does not mean the market is poised for a full bull run. On-chain patterns analyzed by CryptoQuant Quicktake author Woominkyu show that previous bull markets have kicked off while Bitcoin witnessed a decline in market share dominance. Unfortunately, the opposite is the case now. Diversifying Investor Capital...Read More
Donald Trump, former president of the United States and Republican nominee for the upcoming presidential elections, has renewed his vow to end his Democrat rival Kamala Harris’ war on crypto. The pledge was made in a tweet celebrating the 16th anniversary of the Bitcoin white paper, which was written by Satoshi Nakamoto, the pseudonymous network...Read More
The Ethereum-based cryptocurrency lending protocol Aave is witnessing a rapid increase in Coinbase Wrapped Bitcoin (cbBTC) flows into its platform due to a new incentives program involving the asset. While this reflects growing liquidity and rising adoption of the wrapped Bitcoin product on Aave, the market analytics platform IntoTheBlock says it poses a risk to...Read More
BlackRock’s iShares Bitcoin Trust (IBIT) attracted a record-breaking $872 million in inflows on October 30th. The latest figure marks the highest single-day inflow since the fund launched in January. This surge came just a day after IBIT’s daily trading volume surged to $3.35 billion, reaching its highest level in more than six months. IBIT, which...Read More
The Royal Government of Bhutan has made a significant move by depositing 929 BTC into crypto exchange Binance. The activity was flagged shortly after BTC climbed above $70,000 for the first time since June 10. Bitcoin Transfer to Binance In its latest tweet, Lookonchain cited data from Arkham Intelligence, which revealed that the Bhutan government-linked...Read More
Florida Chief Financial Officer (CFO) Jimmy Patronis wants to include Bitcoin (BTC) in the state’s pension fund investments. To that end, he has sent a formal request to Chris Spencer, the Executive Director of Florida’s State Board of Administration, highlighting the need for a digital currency investment pilot program. CFO Wants Bitcoin Feasibility Study In...Read More
The BlackRock iShares Bitcoin Trust (IBIT) recorded a whopping $642.9 million in inflows on Oct. 29, according to Farside data. It is the largest inflow since March 12 bringing the total net inflow for all funds to $870.1 million, the highest since June 4. Bloomberg ETF analyst Eric Balchunas observed that the fund also saw...Read More
The last two times bitcoin prices made new all-time highs, total crypto market capitalization was around $3 trillion. On Nov. 10, 2021, the metric topped $3 trillion when BTC hit its cycle peak of $69,000. Total capitalization also neared the $3 trillion mark in March this year when the asset made its all-time high of $73,738....Read More
The next few weeks will see bitcoin (BTC) experience massive volatility due to uncertainty surrounding the United States presidential election, the “Trump trade” narrative, and the Q4 seasonality performance the asset has witnessed in past years. Analysts at the crypto exchange Bitfinex said in a weekly report that these factors would create a “perfect storm”...Read More
Japan’s investment firm Metaplanet has increased its Bitcoin (BTC) holdings to over 1,000. This follows a recent purchase of 156.7 BTC for approximately 1.6 billion yen, or about $10.4 million. Metaplanet Shares Surge 7.18% Following Purchase The acquisition, announced on Monday in an X post, brings Metaplanet’s total Bitcoin reserves to 1,018 BTC, valued at...Read More
MicroStrategy, known for its Bitcoin (BTC) investment strategy, recently catapulted into the top tier of the U.S. stock market, beating Amazon and Alphabet in daily trading volume for the first time. With $5.5 billion traded on October 25, the company seems to have cemented its place in mainstream finance, joining what its executive chairman calls...Read More
Less than a year after their launch, spot Bitcoin ETFs have recorded unprecedented growth, boosting investors’ interest and demand for the largest cryptocurrency. A recent report by Binance Research, the research arm of the global cryptocurrency exchange, revealed that bitcoin ETFs have accumulated over 938,000 BTC, worth $63.3 billion. This figure represents 4.5% of the...Read More
The world’s largest stablecoin issuer, Tether, has joined hands with authorities in the Swiss City of Lugano to unveil a new statue of the pseudonymous Bitcoin creator Satoshi Nakamoto at the third annual forum of the Plan ₿ initiative. According to a press release by Tether, the Satoshi Nakamoto statue embodies the Bitcoin creator’s mystery...Read More
Bitcoin has assumed its biggest price lead in recent history over the altcoin ecosystem, leaving Ethereum – its perennial number 2 – in the dust. The market capitalization of the OG crypto is now over $1 trillion greater than its runner-up, which has hit its lowest price point against its senior since early 2021. Bitcoin’s...Read More
The spot Bitcoin ETFs enjoyed another week of substantial inflows, with almost $1 billion entering the funds in the past five trading days. The same cannot be said about their Ethereum counterparts, which actually ended the week with minor losses. $1B Enters BTC ETFs Weekly CryptoPotato reported last weekend that the 11 spot Bitcoin ETFs...Read More
While bitcoin demand among large investors is picking up as time passes, smaller market players are lagging. According to a CryptoQuant report, the holdings of retail bitcoin investors are growing at a historically slow pace, even as this cohort of players gradually returns to the market amid BTC’s ascent to the $70,000 level. Retail Investor...Read More
Bitcoin’s whale wallets – defined as those holding 100 or more BTC – have increased by 297 lately. The latest figure represents a 1.9% rise in the past two weeks. On the other hand, wallets containing less than 100 BTC have decreased by 20,629, a decline of 0.1% during the same period. Bitcoin Whales Signal...Read More
After facing backlash for comments suggesting that regulated entities like BlackRock and Fidelity are safer options for holding Bitcoin, MicroStrategy founder Michael Saylor clarified his stance on self-custody. In a tweet, Saylor expressed his support for individuals who choose to self-custody their Bitcoin, while also advocating for the right of everyone to make their own...Read More
Bitcoin is yet to climb above the much-anticipated $70,000 despite several notable upside moves. However, data points to BTC’s short-term uptrend potential, based on the Coinbase Premium Index. In such a scenario, the crypto asset could see a possible price rally. Bitcoin’s Price Rally Soon? By examining the Coinbase Premium Index on a 1-hour time...Read More
Bitcoin is currently trading at a lower price in South Korea despite a broader market rebound across global exchanges. According to data from the crypto market data firm Kaiko, the BTC Kimchi Premium turned negative for the second time since September. Kimchi Premium Turns Negative The bitcoin Kimchi Premium is the difference between BTC’s price...Read More
Ethereum co-founder Vitalik Buterin has added his voice to the chorus of condemnation facing MicroStrategy co-founder Michael Saylor following the latter’s comments advocating for institutional Bitcoin (BTC) custody. Buterin’s critique came after Saylor suggested in a recent interview that large institutions holding Bitcoin can reduce the chances of asset seizure, which lawless crypto holders could...Read More
Historical Bitcoin market cycles have been closely tied to M2 money supply and expanding liquidity. On Oct. 22, market analyst Michaël van de Poppe delved into data points and correlations with cycle peaks and money supply. He noted that in 2017, the M2 supply continued to expand significantly, and the cycle lasted until the end of...Read More
The billionaire investor said that “all roads lead to inflation” in an interview with CNBC on Oct. 22. He added that he was long on gold and long on Bitcoin, stating that commodities are so “ridiculously under-owned.” “I probably have some basket of gold, Bitcoin, commodities, and Nasdaq, something like that. And I own zero fixed...Read More
After an unsuccessful attempt to break past the $70,000 mark this week, bitcoin briefly dipped below $67,000 before staging a modest recovery. Despite the brief pullback, data indicates a renewed interest from retail investors, which is typically seen as a strong indicator of broader market sentiment. Bitcoin Retail Activity Returns CryptoQuant’s latest analysis reveals a...Read More
The landscape around the spot Bitcoin ETFs turned highly positive in the past week, with the products attracting more than $2 billion in net inflows. This has become their best five-day trading period in this regard since mid-March. Massive Inflows for BTC ETFs It’s safe to say that it was a big week for the...Read More
Historical data shows bitcoin (BTC) performing well in the fourth quarters of previous bull cycles, especially in halving years. Current on-chain data indicates that the leading cryptocurrency is following previous patterns and is on track to another remarkable Q4. A report by the market analytics platform CryptoQuant revealed that bitcoin’s price rally in the coming...Read More
The eleven spot Bitcoin ETFs in the United States have collectively surpassed $20 billion in inflows this week. Thursday’s big inflow added to that total flow figure, which was $20.73 billion, according to Farside Investors. Bloomberg’s senior ETF analyst Eric Balchunas said that this was the most important number because it is the “most difficult metric...Read More
BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), experienced a massive net inflow of $393.40 million on October 16th. According to data from SoSoValue, this figure represents the largest influx since July 22, when IBIT saw $526.7 million in new investments. Spot Bitcoin ETF Market Gains Momentum The spot Bitcoin ETFs recorded a total net...Read More
With bitcoin (BTC) surging above $60,000 since the beginning of the week, investors have become greedy. This is evident in the Fear and Greed Index, which depicts market sentiment at any given time, turning green in the last two days. Data from Alternative.me shows that the Fear and Greed Index is in the greed zone,...Read More
