90% of Bitcoin addresses are in profit even as the crypto asset is over 31% down from its all-time high. IntoTheBlock’s analysis reveals a significant milestone for Bitcoin as it surged past the $46,000 mark, pushing more than 90% of all BTC addresses into a profitable zone. 90% of Bitcoin Addresses in Profit According to...Read More
The race to the first approved spot Bitcoin ETF by the United States Securities and Exchange Commission continues in full force. A number of applicants, including the world’s largest asset manager – BlackRock – have filed amendments to their S-1 registration statements under the country’s Securities Act. The latest round of changes came today, January...Read More
Bitcoin bounced back from the flash crash earlier this week after reports on the potential rejection of a widely anticipated spot ETF approval in the US. While investors have maintained a positive outlook, BitMEX founder Arthur Hayes has offered a cautious perspective on the future of the asset. In fact, the prominent commentator is gearing...Read More
Bitcoin has gained 7.2% over the past 24 hours to reach an intraday high of $45,498 during the Tuesday morning Asian trading session. Prices remained flat over the holiday weekend but have started to move as the first working week of the new year begins. The big move has pushed the world’s largest digital asset...Read More
What an eventful year it has been for the crypto industry! With 2023 coming to an end, the cryptocurrency space has had its share of battles and victories, all of which continue to shape an industry that, though still growing, has managed to make a mark in the global financial sector. This year, regulators came...Read More
The widely anticipated approval of over a dozen spot Bitcoin exchange-traded funds (ETFs) in the United States could be a sell-the-news event that would cause the price of BTC to move in the opposite direction. According to the latest weekly report from market analytics platform CryptoQuant, the prediction is substantiated by market participants sitting on...Read More
Bitcoin miners are experiencing significant gains, thanks to a surge in transaction fees that have reached their highest levels since April 2021, primarily driven by the increasing demand for Ordinals inscriptions. The positive momentum in the market throughout this year has served as a valuable recovery for miners, compensating for the challenges faced in the...Read More
Centralized crypto exchanges just witnessed a major single-day outflow of bitcoins (BTC), the largest seen in more than a year. According to data from blockchain intelligence platform Glassnode, over 28,000 BTC worth around $1.19 billion left centralized trading platforms on December 27. The Largest Single-Day Inflow in a Year The number of bitcoins that exited...Read More
Bitcoin (BTC) and the broader crypto market could have a positive year in 2024 due to the effects of several on-chain metrics. According to a weekly report from market analytics platform CryptoQuant, metrics that could influence bitcoin’s positive trajectory next year include the upcoming halving, growing stablecoin liquidity, the widely anticipated spot Bitcoin exchange-traded fund...Read More
Diana Mondino claimed that a decree legalizing the use of certain currencies in contracts and for payments would also apply to Bitcoin. “We ratify and confirm that in Argentina, contracts can be agreed in Bitcoin [translation],” she said on Dec. 21. Ratificamos y confirmamos que en Argentina se podrán pactar contratos en Bitcoin. — Diana...Read More
Digital assets investment products ended their 11-week streak of positive cash flows with withdrawals amounting to $16 million. However, trading activity remained significantly higher than the yearly average, reaching $3.6 billion for the week, in contrast to the year-to-date average of $1.6 billion. Bitcoin was the worst hit, witnessing outflows of $33 million last week,...Read More
According to research by Bybit, institutional traders have expressed a significant bullish sentiment towards Bitcoin, mixed sentiments regarding Ether, and a general air of skepticism towards altcoins. From December 2022 to September 2023, the study provides an insightful look into trading behaviors and asset allocation amidst significant market fluctuations. Institutional Traders Favor BTC, Moving Away...Read More
In a week that saw Bitcoin surging to an impressive $42,000, Tether, the company behind the world’s largest stablecoin, witnessed a substantial increase in the value of its BTC holdings, resulting in a staggering unrealized profit of over $1 billion. Since May 2023, Tether has amassed 4,083 BTC. Tether’s Bitcoin Holdings Soar According to data...Read More
Ki Young Ju, the co-founder and CEO of CryptoQuant, has provided insights into the behavior of whales in the cryptocurrency market, specifically focusing on their preparations for market growth towards the end of 2023. The latest highlights came after his October post, where he noted that Bitcoin whales were adopting a “risk-on mode,” indicating a...Read More
For its more speculative enthusiasts, Bitcoin is delivering an early Christmas by racing beyond the $40,000 threshold and showing strong upward momentum. The rally has helped the market to distance itself from the challenges of the crypto winter in 2022. Yet, it’s essential to note that Bitcoin began the year with a precarious start, initially...Read More
Bitcoin (BTC) has reached a new year-to-date high, soaring past $42,000 on December 4. The asset has broken through the upper limit of the trading range it was confined to for weeks, recording its strongest monthly close since March 2022. However, analysts from the cryptocurrency exchange Bitfinex have warned that investors and traders be wary...Read More
El Salvador President Nayib Bukele said the country’s Bitcoin (BTC) investment is in profit as the price of the asset crossed the $40,000 mark for the first time in almost two years. The Central American country started buying BTC in September 2021, with its stash currently worth over $130 million. El Salvador BTC Portfolio Sees...Read More
Touching $$40,000 this week, Bitcoin price continues to post new highs since the 2022 bear market. The going price for a whole coin was below $27,000 at the end of September just two months ago. Growing excitement over a Bitcoin ETF approval by the SEC drove BTC higher in the fourth quarter. But the world’s...Read More
AntPool – a prominent Bitcoin mining pool – has announced its decision to refund the staggering $3 million transaction fee that made headlines last week. The incident occurred when a user mistakenly submitted an 83 BTC gas fee, prompting AntPool’s risk control system to temporarily freeze the transaction during packaging. AntPool to Reimburse 83 BTC...Read More
With the highly-anticipated Bitcoin halving just four months away, the world’s largest crypto asset is witnessing a strong rally driven by expectations of growing institutional demand. On December 1st, Bitcoin briefly surged past $38.8k, a threshold not observed since May 2022. Although it quickly dipped below $38.3k, Matrixport’s report presents a compelling case for Bitcoin’s ascent...Read More
Michael Novogratz, the founder and CEO of Galaxy Digital Holdings Ltd., anticipates that Bitcoin will reclaim its previous peak within a year, fueled by the growing expectation that the U.S. Securities and Exchange Commission (SEC) will greenlight the first American exchange-traded fund (ETF) directly holding Bitcoin. Meanwhile, there has been a surge in Bitcoin ETF...Read More
A Bitcoin wallet address has sprung back to life after approximately four years of inactivity. The dormant whale transferred its entire stash of 3,623 BTC – worth around $136.94 million – to two new wallets. On-chain data suggest that the whale amassed 3,623 BTC worth almost $25 million between October 25, 2018, and December 31,...Read More
A majority of Bitcoin holders are currently seeing positive returns on their investments, but they have refused to realize their gains. According to this week’s edition of the Bitfinex Alpha report, more than 83% of BTC supply is currently held at a profit. This is the most substantial percentage in profit since November 2021, when...Read More
Markets have been eagerly awaiting SEC’s approval for a spot Bitcoin ETF all year. Word from the rumor mill of an imminent move by the SEC in October sparked a sustained rally in Bitcoin prices. BTC traded on crypto exchanges at an average price of $26,750 on Oct 12 and then rallied 40% to $37,490...Read More
The largest cryptocurrency exchange – Binance – experienced an increase in the withdrawal of funds shortly after its chief executive, CZ, pled guilty to criminal charges. Although the mass exodus of digital assets from Binance has somewhat diminished, outflows persist. The latest data indicates a transfer of funds between Binance and Coinbase Pro. CZ pleaded...Read More
According to the data compiled by Bitinfocharts, Bitcoin’s hash rate reached a new all-time high yet again, climbing 547.79 Ehash/sec on November 19th. It broke the previous record of 526.71 established earlier this month. The latest jump represents over 169% increase since the beginning of the year from 203.58 Ehash/sec. Data suggests that the average...Read More
Since breaking above $36,000 last week, Bitcoin’s exchange rate with the U.S. dollar and USD stablecoins has held steady above the $36,500 level. The bull market has taken BTC’s market cap up to 55% of the global silver market cap. Meanwhile, the total market capitalization of all cryptocurrencies has surpassed the value of all the...Read More
Even crypto cynics are expecting big returns from Bitcoin (BTC) while markets await an SEC approval for a spot ETF product. It could happen any day now. One major Wall Street bank expects the SEC to move by January 10th. Tradfi Chief Riding Bitcoin Momentum Short Hills Capital’s Steve Weiss, a frequent CNBC contributor, recently...Read More
In the highly volatile realm of cryptocurrency trading, an astonishing $110 million worth of long positions have been liquidated within a mere 24 hours. Bitcoin and Binance have emerged as the primary contributors to this sweeping wave of liquidation. This dramatic surge of liquidation follows a tumultuous rollercoaster ride in crypto prices. Bitcoin’s value soared...Read More
Data from previous crypto market cycles suggests that Bitcoin (BTC)’s dominance over altcoins will likely keep rising over the next several months, according to Glassnode. In a newly published report, the blockchain and market intelligence outlined how the leading crypto asset’s dominance is shaping up against the second largest crypto, Ethereum (ETH), compared to previous...Read More
