As the crypto market revels in Bitcoin’s (BTC) latest ascent to the $52,000 price level, an analyst has found two on-chain paths that would lead the digital asset to $150,000 within the next six months. According to a CryptoQuant quick take by Onchain Edge, analysis of on-chain data showed two scenarios that would likely see...Read More
With a total of 190,000 Bitcoins, MicroStrategy’s investment in BTC has surpassed $10 billion. The milestone came after BTC broke above $50k, underpinning the company’s strong belief in the asset’s long-term value and its role as a hedge against inflation. Since entering the bitcoin market in August 2020, MicroStrategy now holds over 190,000 BTCs worth...Read More
Inflows from the new spot Bitcoin exchange-traded funds (ETFs) are the major reason BTC has experienced a significant uptick, surpassing the $50,000 level and exceeding $52,000. According to a tweet by Marc van der Chijs, Bitcoin investor and founder of several crypto firms, including miner Hut 8, ETF issuers are buying more than 10-12x the...Read More
Bitcoin climbed by nearly 20% this week, surpassing the $1 trillion market cap for the first time since November 2021, owing to the continued inflows to the newly launched spot ETFs earlier this year. Following this milestone, BTC hit an all-time high against a few depreciating fiat currencies, including the Japanese Yen. In fact, Bitcoin...Read More
The cryptocurrency industry has experienced a considerable uptick since the beginning of 2024 as the broader market capitalization exceeds $2 trillion for the first time in a long while. Many analysts and industry experts are calling for even better times ahead, pinpointing that the upcoming Bitcoin halving in April has historically been a precursor to...Read More
Bitcoin’s meteoric rise continues as its total market value surpasses $1 trillion, fueled by a surge in price to over $51,000 on February 14th. This increase follows rising interest from not just individual but also institutional investors, propelling Bitcoin to sustainable price appreciation despite significant challenges. Despite the latest milestone, data suggests an ongoing battle...Read More
Bitcoin’s price continues increasing and is currently trading at around $51,500. This marks a massive surge of over 3% in the past hour and some 20% in the past week. The move comes after the price went into massive volatility yesterday, tumbling toward $48K and leaving more than $200 million worth of liquidated positions. While...Read More
Long-term Bitcoin investors have seen their patience and conviction rewarded thanks to the crypto asset’s rally to multi-year highs above $50k. According to the latest data from Glassnode, although Bitcoin prices are still 28% below their all-time high, the number of BTC held at a loss is decreasing rapidly, with only 13% falling into this...Read More
Bitcoin surged above $50,000 for the first time since December 2021, which is more than two years ago. The crypto asset broke multiple resistance levels along the way. However, sustaining this psychologically significant threshold proved challenging, as Bitcoin retraced to the $49,800 mark on Tuesday. There’s a crucial resistance level at play that could induce...Read More
Still far short of its 2021 peak of almost $69,000, Bitcoin has been steadily climbing higher despite the ETF-induced correction. This week, it surpassed $48,000 and $49,000, a level not seen in nearly two years, with the $50,000 target now in focus. However, data suggest that there’s a crucial hurdle that Bitcoin needs to overcome...Read More
On Feb. 12, Mechanism Capital partner Andrew Kang predicted that long-term Bitcoin demand flows this year would be between $40 billion and $130 billion. There is a huge amount of global wealth and income that could potentially flow into crypto, he said, stating that the global aggregate income is around $52 trillion. Current crypto ownership...Read More
Bitcoin’s price is poised for an upcoming rally this year, and the best scenario can take the asset to above $100,000 for the first time ever, said the CEO of CryptoQuant – Ki Young Ju. To do so, though, certain developments have to transpire, which are mostly related to the recently approved spot Bitcoin ETFs...Read More
On-chain analysis by market intelligence platform CryptoQuant has found that selling pressure from Bitcoin miners has eased and remained low despite a significant decline in transaction fees. According to the firm’s latest weekly report, Bitcoin sold daily by miners currently sits around 300 BTC, significantly down from the companies’ 800 BTC daily sales in November...Read More
Bitcoin witnessed significant developments in recent weeks that have helped it extend its rally, surging past $47,000 for the first time in nearly a month. The uptick has brought a sense of relief for its investors, who recently endured a brief plunge to 38,500 and now find themselves comfortably in the profit zone amidst market...Read More
Bitcoin surged past the $46,000 mark on February 9th after overcoming a significant resistance level at $44,000. This resistance had been a barrier to price increases since the introduction of spot Bitcoin ETFs in the United States about four weeks earlier. The leading crypto asset, buoyed by the onset of East Asia’s major festival marking...Read More
Bitcoin (BTC) broke the $46,000 barrier after several weeks of consolidation, marking a multi-week high. This price increase hasn’t been seen since January 12, the day spot bitcoin exchange-traded funds (ETF) became a reality. The increase was attributed to heightened accumulation of BTC by large holders and new all-time highs in U.S. equity indices. Following...Read More
With almost all losses from the post-ETF-approval apocalypse already erased and the upcoming halving, which tends to serve as a catalyst for future price increases, the crypto community continues to speculate how high Bitcoin can go this year. PlanB, the popular analyst behind the Stock-to-Flow model, believes the asset will not go below $40,000 due...Read More
Popular trader and technical analyst CryptoCon shed light on Bitcoin’s historical patterns in a new analysis published on X, stating that BTC could retest $31.300 this year. Yet, the emergence of ETF inflows could counter further contraction. According to CryptoCon, there hasn’t been a single Bitcoin cycle that has “escaped a retest of the 150%...Read More
Bitcoin price may still be correcting as many predicted it would after the SEC approved several Bitcoin ETFs on Jan. 10. But the halving this year will exert its own influence over crypto exchange rates. After crashing 15% from the Jan. 10 price to on Jan. 22, Bitcoin (BTC) retraced to support above $42,500 for the...Read More
With the fourth halving event scheduled for April this year, speculation about Bitcoin’s future trajectory is rampant. One notable voice in this conversation is Charles Edwards, the founder of hedge fund Capriole Investments, who has made a striking prediction – if Bitcoin’s post-halving returns mimic those of 2020, the market could be witnessing a staggering...Read More
Over the weekend, Bitcoin technical analyst and stock-to-flow model creator “PlanB” said that after the halving, “Bitcoin will be scarcer than gold and real estate.” However, he added that he wouldn’t be surprised if Bitcoin’s market capitalization, currently less than $1 trillion, stayed below gold’s, which is currently less than $10 trillion. With some basic...Read More
A recently released study by Bitget focusing on the upcoming Bitcoin halving event indicated a positive outlook as market conditions continue to recover. With the Bitcoin halving scheduled for April 2024, investors across the world are carefully analyzing its potential impact on their investment decisions. The research involved a diverse array of contributors hailing from...Read More
The US Securities and Exchange Commission made history in mid-January when it finally approved nearly a dozen spot BTC ETFs to launch on local exchanges after a decade of delays and rejections. There was a big price run-up ahead of the approvals that resulted in a highly positive Q4 ’23 for BTC. However, the landscape...Read More
Bitcoin’s price actions in the past several days have been quite uneventful, with little to no movements after last week’s recovery from the sub-$40,000 dip. However, data from Santiment shows that some of the largest investors have been using this moment to move sizeable portions of their holdings. 🐳 #Bitcoin is ranging between $41K and...Read More
A significant uptick in the flow of BTC from miner wallets to spot exchanges was flagged on January 29th, marking the highest volume since May 16, 2023. According to CryptoQuant’s analysis, over 4,000 BTC, equivalent to approximately $173 million, entered these exchanges, signaling substantial selling pressure. Interestingly, despite this influx, the market appears to have...Read More
Bitcoin market price movements have historically followed similar patterns leading up to the four-year halving event. There is usually a mid-cycle top, then a pullback of as much as 30% before the halving and the next bull cycle. On Jan. 30, crypto analyst “Rekt Capital” said that the pre-halving period where pullbacks tend to occur...Read More
Anthony Scaramucci – founder of SkyBridge Capital – predicts that the next Bitcoin (BTC) halving will catapult the asset’s price to $170,000 per coin. His latest estimate is based on Bitcoin’s consistent track record of tapping new all-time highs following the “halving” – a roughly one-in-four-year event that cuts the rate at which new BTC...Read More
Tether’s (USDT) circulating supply has long been a subject of intense speculation regarding its potential impact on the price of Bitcoin. Recent findings from CryptoQuant suggest a significant correlation between the supply of USDT and movements in Bitcoin’s price, particularly since the latter part of 2022. USDT Influx Fuels Bitcoin Surge The analysis indicated that...Read More
In short, an overbought market after months of increasing certainty about the SEC’s Bitcoin ETF approvals burst in January and allowed the price to correct some. Historical #Bitcoin prices for today, January 26th: 2024 – $41,1742023 – $23,0162022 – $36,8002021 – $32,5022020 – $8,6082019 – $3,5712018 – $11,1182017 – $9162016 – $3902015 – $2692014 –...Read More
Bitcoin is back above $42,000 after dropping below the $ 39,000 threshold earlier this week. The subsequent increased selling pressure on Bitcoin was alarming, but the overall sentiment appears to be bullish nonetheless. This was evidenced by Bitcoin accumulation wallets, which are now holding an impressive 1.7 million BTC, valued at $68 billion, according to...Read More
