While the crypto market began September with a downward trend, it concluded the month on a high note, with Bitcoin (BTC) stabilizing just under $27K and Ethereum (ETH) trading close to $1,650. As we step into October, there’s curiosity about which altcoins might shine. Given the continued interest in Bitcoin Cash (BCH), Chainlink (LINK), and...Read More
In September, Bitcoin experienced a significant bearish trend, only to rebound slightly to $27K as the month ended. Yet, October promises increased excitement with several major events on the edge, including the SEC’s verdict on Grayscale and multiple spot ETF launches. Consequently, we might see intense price fluctuations for BTC, potentially tilting in favor of...Read More
According to the blockchain data platform Glassnode, the total number of Bitcoin addresses owning 1,000 BTC or more has plunged to its 2019 levels. The entity revealed that currently, there are just 1,997 addresses holding over $26.4 million worth of the primary cryptocurrency (calculated at current prices). 📉 #Bitcoin $BTC Number of Addresses Holding 1k+...Read More
The trend coincided with a notable surge in block space demand – a trend that has happened on par with the release of Ordinals and Inscriptions. The elevated demand has been sustained ever since, according to Glassnode’s latest analysis. Despite the concerns surrounding Ordinals congesting the Bitcoin network, the blockchain intelligence firm suggests that there...Read More
The crypto market has recently been under the weather, with indicators showing downward shifts. Interestingly, these ups and downs offer a deep dive into the current state of cryptocurrency and why the market is down today. The Crypto Market’s Rollercoaster Ride Once riding high, the global crypto market began to lose steam on July 13,...Read More
For the sixth straight week, digital asset investment products experienced outflows, amounting to $9 million in the previous week. While this is significantly lower than the previous week which was characterized by sour investor sentiment with extensive outflows, the weekly trading volumes remained sluggish at just $820 million, significantly below the year-to-date average of $1.3...Read More
Elliptic, a leading blockchain analytics firm, has uncovered a network of 100 individual suppliers facilitating the illicit fentanyl trade by smuggling the precursor chemicals needed to synthesize fentanyl. The criminals have also been using cryptocurrency, specifically Bitcoin, Ethereum, Tron, and Monero, to make payments, facilitating the transfer of funds from buyers to suppliers, with the...Read More
Crypto analytics platform Santiment has found that the ratio of Bitcoin discussions among market participants has plunged to a three-month low, while traders have been distracted by several altcoins. According to a Monday post on X, traders are afraid of missing out on pumps of smaller crypto projects and have sidelined Bitcoin to focus on...Read More
Data collated by 21.co, the parent company of the world’s largest issuer of cryptocurrency exchange-traded products, 21Shares, revealed that the notorious North Korean hacking group Lazarus currently holds more than $47 million worth of crypto assets in its wallets. According to 21.co’s dashboard on Dune Analytics, Lazarus Group holds several digital assets, including bitcoin (BTC),...Read More
John Deaton – an attorney representing thousands of Ripple investors involved in the legal battle against the US Securities Exchange Commission (SEC) – believes the price of bitcoin might thrive next month. Most analysts have recently predicted that BTC could indeed skyrocket in the future, but not before the halving scheduled for the spring of...Read More
The world’s largest corporate bitcoin holder – MicroStrategy – has reinstated its BTC-buying policy and has spent another $150 million to acquire just under 5,500 BTC. Nevertheless, the company’s entire bitcoin position is still underwater, at least theoretically, as the asset’s price struggles at $26,000. Michael Saylor – MicroStrategy’s founder and former CEO – announced...Read More
Bitcoin’s trading volume has taken a significant hit this year, and the recent market activity has been characterized by low volatility and narrow price ranges, limiting trading opportunities. Despite rising above $27.5k briefly earlier this week, the flagship crypto-asset is back near $26k. One of the major factors restricting its price growth is dwindling market...Read More
In a recent announcement, Tron network founder Justin Sun took to his social media platform to reveal a significant development in the legal recognition of Bitcoin. Sun shared that the Shanghai No. 2 Intermediate People’s Court has officially recognized Bitcoin as a one-of-a-kind digital currency. They believe it’s unlike virtual currencies such as Q coins...Read More
Core Scientific, Inc., a prominent player in high-performance blockchain computing data centers and software solutions, has revealed that Bitmain, a global leader in manufacturing digital currency mining servers, will be making a significant investment of $53.9 million in it. This move further strengthens the longstanding relationship between the two companies. Bitmain and Core Scientific have...Read More
A dispute over Bitcoin investments took a tragic turn when a 35-year-old husband, Kritsada, shot his 31-year-old wife, Pitsamai, leading to a six-hour standoff with the police. The incident unfolded in the Uthai district of Ayutthaya province. Husband’s Bitcoin Loss Leads to Tragedy The incident began when Kritsada, agitated by a loss of 700,000 baht...Read More
Though Bitcoin (BTC) continues to trade well below its 2021 November 2021 highs, Anthony Scaramucci, the founder of SkyBridge Capital and former White House communications chief, remains steadfastly bullish on the asset. Speaking at the Messari Mainnet conference in New York, Scaramucci expressed confidence that the worst of the bear market is now behind us....Read More
Bitcoin’s ownership distribution is a critical indicator of market dynamics. According to the latest analysis from Santiment, some intriguing shifts in Bitcoin ownership patterns have emerged, shedding light on the evolving dynamics within the crypto market. The crypto analytics firm revealed that Bitcoin’s non-whale wallets have not hit a new peak. Bitcoin Non-Whale Addresses Peak...Read More
Aditya Baradwaj, a former engineer at the bankrupt cryptocurrency trading firm Alameda Research, has revealed that the company was behind bitcoin’s 87% plunge in 2021. Baradwaj explained the events that led to the sudden drop, saying the incident was a result of a work philosophy established by Alameda’s co-founder Sam Bankman-Fried (SBF), which maintained that...Read More
The Bitcoin network is currently dealing with an increase in transaction congestion, with data from the Mempool indicating a backlog of over 470,000 pending transactions. Somewhat expectedly, this has resulted in the transaction fees on the Bitcoin Network fluctuating quite severely. Bitcoin Transaction Fees Fluctuate Mempool data reveals that the Bitcoin Network is experiencing the...Read More
In an ongoing saga that has gripped the cryptocurrency world for almost a decade, Nobuaki Kobayashi, the trustee overseeing the bankruptcy proceedings of Mt. Gox, just recently announced a one-year deadline extension for repaying creditors. According to a court document released on Sept. 21, Kobayashi outlined his hopes that repayments to creditors who have actively...Read More
Rich Dad, Poor Dad’s Robert Kiyosaki has once again voiced his support for bitcoin (BTC), gold and silver. This time, the author noted that he considers questions he has received about the future prices of BTC, gold, and silver to be silly and that the most important one should be how much of the assets...Read More
In a recent Twitter thread, Chill|TheResponsibleDΞGΞN (@ChillTRD) has presented a compelling case for the impending arrival of Bitcoin’s most substantial bull market. At the heart of his analysis are two critical factors poised to reshape the cryptocurrency landscape 2023: the Debt Crisis and Rising Interest Rates. A new Bitcoin ATH and the biggest bull market...Read More
Another dormant Ethereum address has woken up from a slumber after four years. The wallet received approximately 2,594 ETH on November 27th, 2018, worth at the time $285,836. In recent weeks, several whale addresses, which were previously inactive, had been waking up. This coincided with a slight positive change in the crypto market after weeks...Read More
Bitcoin witnessed an extraordinary surge in transaction volume in the past week, coinciding with a mild increase in its price, which broke away from a constrained trajectory. According to recent data by IntoTheBlock, the number of reported transactions for Bitcoin rose to nearly 703,000, representing the largest number recorded not just in 2023 but also...Read More
Asset management giant BlackRock expects the Federal Reserve to keep its policy interest rate flat at its next Federal Open Markets Committee (FOMC) meeting on Wednesday. The prediction is in line with market expectations and is suspected by analysts to offer Bitcoin (BTC) a meaningful short-term price boost. BlackRock’s Fed Forecast According to Marilyn Watson...Read More
A dormant Bitcoin address has suddenly become active after six long years. Blockchain intelligence company PeckShield revealed through a tweet that the previously inactive address “13RLtG…PXs,” which held approximately 2,100 BTC, has been reawakened. According to data from BitInfoCharts, this Bitcoin address initially received the stash of BTC on October 19, 2017, when its value...Read More
Investor sentiment remained sour as digital asset investment products witnessed yet another week of extensive outflows. However, Bitcoin was still the most loved investment product according to the latest edition of CoinShares’ report. In the past week, digital asset investment products experienced outflows totaling $54 million, marking the fifth consecutive week of such withdrawals. In...Read More
The largest cryptocurrency by market capitalization is pre-determined to have 21 million coins ever mined. Many BTC proponents believe this anti-inflationary feature should make the asset more scarce and valuable in time. The total amount of Bitcoin produced as of today stands at almost 19.5 million, with over 15% owned by ten individuals or organizations....Read More
Bitcoin has done very little over the weekend, hugging the $26,500 price level with minimal volumes and volatility. Market analyst and chart guru “PlanB” has been tweaking his pricing models since the infamous stock-to-flow model has been potentially invalidated by this extended bear market. With the new market phase naming, BTC is still in the...Read More
Bitcoin miner F2Pool has successfully reversed a recent erroneous bitcoin transaction that resulted in an excessively high transaction fee of $510,000, almost 480,000 times the average network fee of $2.176. The responsible party, Paxos, acknowledged its error and identified it as a bug in a single transfer. According to on-chain data from Mempool on X,...Read More
