After weeks of nonstop bullish momentum, Bitcoin (BTC) retraced below $61K, a correction many analysts deemed necessary before the halving. As CryptoPotato reported, over $220 billion were lost in just two days, with altcoins like Solana (SOL), Dogecoin (DOGE), and Ripple (XRP) suffering the most. However, the trend changed in the following hours, especially after...Read More
Bitcoin’s recent dip to $60.8K mounted concerns about the sustainability of the rally. It was the biggest single-day decline in a fortnight as a result of a decline in inflows of spot Bitcoin ETFs on the same day. The downturn was widespread, with several altcoins following Bitcoin’s suit. Despite this price correction, the bullish sentiment...Read More
In a worrying trend, Bitcoin miners’ reserves hit a low not seen since April 2021. This coincides with lagging active addresses in the network while Bitcoin short-term holders sold off some of their holdings, dragging its value below $63,000. According to CryptoQuant’s latest analysis, there is a significant decline in the Bitcoin miners’ reserve, reaching...Read More
Late Monday, Bitcoin (BTC) witnessed a sudden and significant plunge on BitMEX, plummeting to as low as $8,900 within a matter of minutes. Since the flash crash, BitMEX has announced via social media that it is currently investigating the substantial sell orders. Bitcoin’s Flash Crash on BitMEX According to data from the charting platform TradingView,...Read More
British multinational bank Standard Chartered has increased its prediction for Bitcoin’s price by 50%, forecasting that the leading digital asset will be worth $150,000 by the end of 2024. According to a CoinDesk report, the bank expects BTC to hit a record high of $250,000 by 2025 before rounding off the bull cycle around $200,000....Read More
“It’s officially Fed week, the week we’ve all been waiting for,” exclaimed macroeconomics outlet The Kobeissi Letter on March 17. The US Central Bank will make its highly anticipated announcement on March 20, which will set the tone for the US’s economic outlook going forward. Key Events This Week: 1. Housing Starts data – Tuesday...Read More
2022-2023 was an excellent period for naysayers who crushed, denounced, lambasted, and even proclaimed Bitcoin (BTC) is “dead.” A “dark age” where there appeared to be little hope that the primary cryptocurrency would once again rise or even exceed its previous peaks. However, BTC always seems to have the final word (at least, it has...Read More
In the past few days, Bitcoin (BTC) has fallen from its newly recorded highs to levels not seen in a week, triggering millions in liquidations. Analysts have revealed that the Coinbase Bitcoin Premium Index flashed a bearish signal before BTC slumped. According to an analysis by CryptoQuant, the Coinbase Premium Index dipped below 0.05 some...Read More
Just one day after the spot Bitcoin ETFs achieved a notable milestone with a net inflow of $1.05 billion, BlackRock’s IBIT saw inflows exceeding the total outflows of Grayscale’s GBTC for the first time. According to data compiled by SoSo Value, as of March 13th, IBIT’s cumulative inflow amounted to $12.03 billion, whereas GBTC’s cumulative...Read More
Bitcoin (BTC) whales have been busy this week taking profits, or at least it appears so. According to on-chain tracker Lookonchain, one wealthy trader made a profit of $217 million on BTC after selling a large amount of BTC on Binance. The whale in question had accumulated and held BTC for several months, specifically since...Read More
Adam Back, a British cryptographer and co-founder of blockchain tech company Blockstream, believes Bitcoin (BTC) reaching $100,000 is way overdue and a matter of when, not if. According to a Thursday tweet by the famous Bitcoin proponent, there is little market euphoria as the leading digital asset records $1,000-$5,000 green candles because the community expects...Read More
The future is not assured until it has passed, but successful cryptocurrency investors have relied on how powerful the recurring patterns are in these historical trends. Here are 12 Bitcoin halving cycle protips from crypto influencers on X, the social media website formerly known as Twitter. 1. It’s Still Early On This Halving Cycle Like...Read More
The price of Bitcoin (BTC) has reached new all-time highs much faster than analysts had expected. A substantial upswing kicked off a few weeks after the approval of the Bitcoin Spot ETF. BTC started the week with an intense burst of volatility, as it topped $73K, tumbled to $69K, and then climbed its way back...Read More
Solana has been highly favored among altcoins, yet its reputation took a hit due to significant network outages. Despite the overall market surge and renewed investor confidence in 2024, inflows into digital asset investment products associated with Solana were not substantial. However, there are signs of a gradual shift in this trend as Solana investment...Read More
Business intelligence firm MicroStrategy has completed a $800 million fundraising effort to purchase additional Bitcoin (BTC). The company also used some excess cash and acquired 12,000 BTC, with its total holdings now well above 200,000 BTC. MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477...Read More
The Stanford Blyth Fund, a student-run investment entity at the university, purchased Bitcoin (BTC) at $45,000 in February after a scholar pitched the asset during a meeting. According to a tweet by Kole Lee, a computer science major and leader at the Stanford Blockchain Club, the Blyth Fund has allocated approximately 7% of its portfolio...Read More
This bull run is cyclical in nature, and these seven signals suggest it is just getting started. Just three weeks ago, on Feb. 12, Bitcoin’s price crossed the $50,000 threshold. Fundstrat Global Advisors Head of Digital Strategy Sean Farrell said, “This rally in the near term certainly has some room to run.” He was right! The...Read More
On March 8, on-chain analytics provider Santiment reported that despite the incredible milestone for Bitcoin, “there is a combined sense of exhaustion and altcoin distraction coming from the trading community right now.” BTC prices briefly topped $70,000 on Coinbase on Friday marking a new all-time high for the digital asset. However, it sharply retreated from this...Read More
Arkham Intelligence has revealed that Tesla currently possesses 11.51K BTC, valued at $780 million, distributed across 68 addresses, while SpaceX holds 8.29K BTC, totaling $560 million, spread across 28 wallets. These findings are substantiated by on-chain fund flows that align with financial disclosures from both companies. Tesla and SpaceX’s Vaults: $1.34B in BTC Holdings Laid...Read More
Bitcoin accumulation addresses are witnessing record inflows following Bitcoin’s (BTC) surge to its all-time high of $69,000 and the subsequent retracement. According to a weekly report by CryptoQuant, daily inflows into Bitcoin accumulation addresses have risen to 38,000 BTC, pushing the total holdings of such wallets to record-high levels of 1.5 million BTC. Accumulation Addresses...Read More
Bitcoin (BTC) will blow past $250,000 this cycle thanks to years of HODLer conviction slingshotting its price to the moon, according to lead Glassnode analyst James Check. In an interview with What Bitcoin Did on Thursday, the analyst broke down why the Bitcoin market appears far more robust compared to the last time the asset’s...Read More
A bull market is characterized by a phase in which investor demand surpasses the available supply, leading to heightened market confidence and upward price movements. While the ongoing bull market has shown considerable promise, its peak has yet to be reached, according to some on-chain metrics. Bull Market Still in Full Swing Bitcoin is currently...Read More
Bitcoin (BTC), which saw remarkable gains in the last weeks of February, has been hovering above $67K for the past 48 hours. Behind BTC’s recent market rally are spot Bitcoin ETFs, which are netting substantial inflows into their funds. As the market is gripped with bullish sentiment, miners have earned $75.9 million in daily revenue,...Read More
With the asset tapping an all-time high of over $69,000 this week, will today’s big expiry event push Bitcoin prices higher or initiate a correction? Around 29,000 Bitcoin options contracts will expire on March 8 with a notional value of around $2 billion. This week’s expiry event is slightly less than last week’s, but a...Read More
Amidst the market-wide rally, Bitcoin miners appear to be reaping substantial rewards. On March 6th, they earned a staggering $75.9 million in daily revenue marking the second-highest figure in the leading crypto asset’s history. This also represented a notable increase of 30.74% from the previous day and a remarkable surge of 293.1% compared to the...Read More
South Korea’s Bitcoin kimchi premium has soared to levels last in 2021 amid Bitcoin’s latest rally that resulted in a new all-time high. Data from CryptoQuant shows that the premium index reached a 27-month high of 10.32% on March 6, indicating surging demand and growing interest in BTC among local investors in the South Korean...Read More
On March 7, crypto analyst Dylan LeClair posted a lengthy report on the current state of the Bitcoin market. “Supply distribution has started,” he said, highlighting how Bitcoin holders have started to sell as new market entrants emerge, namely exchange-traded funds. However, there was no reason to be concerned because the ETFs are seeing massive...Read More
Bitcoin reached a fresh all-time peak, surpassing $69,300 this week, only to swiftly correct by over 10%. Prior to this event, the open interest in Bitcoin futures and perpetual pairs surged to unprecedented levels. Despite Bitcoin’s overall gain of almost 55% in the past month, the sudden drop in its value has left investors uncertain...Read More
Bitcoin went through a massive correction to under $60,000 after blasting past a new all-time high above $69,000 on Wednesday. Experts indicate that despite the volatility, there’s continued positivity in the market, hinting at potentially strong movements in the days ahead. Correction Brings Renewed Positivity CryptoQuant’s latest analysis, for one, suggests that the ongoing correction...Read More
Bitcoin has surged to an all-time high, surpassing $69,000, a level not seen since November 10, 2021. The uptick is largely attributed to the significant influx of purchases from recently established spot bitcoin ETFs based in the United States. When these ETFs commenced operations on January 11, Bitcoin was trading at approximately $45,000, surging by...Read More
