On-chain analysts at Glassnode and Ark have developed a new framework for analyzing the Bitcoin network’s “economic state.” The framework, called “Cointime Economics (CE),” will help increase the accuracy of on-chain analysis, which savvy investors and traders often use to read where Bitcoin’s price is heading. What is Cointime Economics? According to lead Glassnode analyst...Read More
The US Federal Bureau of Investigation (FBI) discovered that the North Korean hacking collective – the Lazarus Group – has drained cryptocurrencies worth millions of dollars through several attacks in the past few years. The security agency believes the wrongdoers could soon cash out 1,580 BTC (worth almost $41 million at current prices). Stay Focused...Read More
Crypto analytics platform Santiment has found that bitcoin (BTC) supply on exchanges has plummeted to its lowest level in roughly six years. On-chain data analyzed by the firm shows that only 5.8% of the total BTC supply sits on trading platforms, and this level was last seen on December 17, 2017. Bitcoin Supply on Exchanges...Read More
Binance CEO Changpeng Zhao (CZ) credited a little-known X (formerly Twitter) user on Wednesday for dispelling rumors of internal chaos at Binance, which suggested that the exchange was desperately selling its Bitcoin stash to protect the price of its native token, BNB. The rumors pertained to a vulnerable BNB collateralized DeFi loan on Venus protocol...Read More
Fed chairperson Jerome Powell has been at the receiving end of significant backlash for his stance on implementing the same approach that helped the US get rid of inflation several decades ago. This strategy has been strongly contended by BitMEX founder Arthur Hayes while pointing out the difference in economic and monetary conditions in the...Read More
GOP presidential candidate and current mayor of Miami, Francis Suarez, has said he would be willing to accept Bitcoin (BTC) as part of his salary if elected president. Suarez made the statement in a podcast interview, where he confirmed that he was already taking part of his mayoral salary in Bitcoin and would continue if...Read More
Bitcoin plunged below the $26,000 level on Wednesday extending monthly losses to nearly 15% but it has never been more difficult to mine the leading crypto-asset. Despite a severe drawdown in price, Bitcoin’s network fundamentals have largely refrained from following the same trajectory. In fact, Bitcoin’s mining difficulty has reached an all-time high of 55.62...Read More
The crypto market’s violent downtrend left many hoping for a quick rebound, as evidenced by a huge rise in “buy the dip” mentions across several social media channels. However, this “wishful thinking” has died down, with top assets such as Bitcoin still hovering in the bearish territory with no near-term signs of a reversal. According...Read More
Bitcoin Ordinals stirred up a frenzy in the community soon after its launch in January 2023. More than eight months later, ordinal inscriptions have maintained their prominence in the Bitcoin network’s activities over the past week. Despite a sharp drop in sales volume, Bitcoin Ordinals remains very much active. Ordinals Account for 85% of Activity...Read More
Lookonchain revealed that Andrew Kang (Co-Founder of the crypto-focused venture capital firm Mechanism Capital) lost over $430,000 in a single day after the recent crash of the digital asset market liquidated his long positions. Kang’s positions opened on August 18 included Bitcoin (BTC), Ethereum (ETH), and Arbitrum (ARB), as he traded with up to 100x...Read More
In August 2023, the crypto market experienced significant fluctuations in its volatility. Over the last 48 hours, the market witnessed a massive liquidation of $1 billion, triggered by a series of bearish developments. The question arose: could this move signal the end of the prolonged consolidation period that had persisted for the past two months? ...Read More
MicroStrategy’s co-founder and executive chairman, Michael Saylor, who served as the company’s former CEO for over 30 years, continues to remain bullish on bitcoin three years after his publicly-traded business intelligence company decided to make its first BTC purchase. Saylor has also made big price predictions for the asset, believing its value could exceed $1...Read More
The fervor that surrounded Bitcoin Ordinals seems to have waned, with sales volume dropping more than 97% from its all-time high in May 2023. However, some community members believe Bitcoin Ordinals are not dead, some others state that the earlier hype was a major cause of its crash, arguing that Bitcoin is better off maintaining...Read More
As crypto mining firms rapidly expand infrastructure ahead of the 2024 Bitcoin halving, the industry is also branching out into another growing tech frenzy: artificial intelligence. A report from JP Morgan on Thursday explained how mining businesses are now repurposing their infrastructure to provide high-performance computing services. Miners Pivot to AI As led by Nikolaos...Read More
In the past 24 hours, the cryptocurrency market experienced a significant crash, eliminating expectations of a bullish surge. This decline was triggered by a series of macro news, erasing the progress made over the past two months. Notably, among the altcoins, Shiba Inu and Litecoin showed a slight rebound from their monthly support levels, suggesting...Read More
Bitcoin flash crashed to about $25.3k in an unexpected downturn triggering severe liquidations for traders. The bloodbath follows Evergrande’s bankruptcy, but it’s the SpaceX write-down that has taken center stage. Certain documents have emerged that reportedly provided a rare insight into the financials of Elon Musk’s SpaceX, revealing that the space company wrote down the...Read More
In a recent video, prominent crypto analyst PlanB has ignited excitement among the cryptocurrency community by suggesting that Bitcoin’s price could potentially skyrocket to an astonishing $500,000. This optimistic outlook is grounded in his meticulous analysis of the Relative Strength Index (RSI), a pivotal technical indicator known for predicting market trends. PlanB’s buoyant sentiment stems...Read More
Is Bitcoin or Ethereum a better protocol for developers? A closer look reveals the answer may not be so obvious. Tony Cai – CEO of Bitcoin-based DeFi platform Atomic Finance and former Ethereum builder – published a Twitter thread on Wednesday explaining the different experiences of building apps on both networks, including the strengths and...Read More
Stablecoin giant Tether announced on Thursday that it has discontinued USDT support for three blockchains, on which the token “lacks significant traction.” Those chains include Bitcoin’s Omni Layer, Bitcoin Cash’s Simple Ledger Protocol (SLP), and Kusama. No Signs Of Omni Adoption As explained on Tether’s website on Thursday, community interest is a “key factor” in...Read More
Bitcoin is currently undergoing a period of record low volatility. However, the asset appears to be a “challenging multi-contact point trendline” that can be traced to its lowest point in 2023. This could offer insights into the future direction of the leading crypto-asset, according to renowned veteran trader Peter Brandt, who said the largest cryptocurrency...Read More
Speaking to CNBC on Aug. 16, Fundstrat analyst Tom Lee said that if the spot BTC ETF gets approved, the demand for Bitcoin will be greater than the supply. He added that the firm’s crypto strategists predicted a clearing price of $150,000 to $180,000. The bold prediction is before the end of next year and...Read More
Bitcoin has tapped a new all-time high against the Argentine peso, shortly after a Bitcoin-supportive presidential candidate came first in the nation’s primary elections. The asset now trades for $10,258,244.60 ARS, up 21% over the past 5 days. Pressure on the Peso Compared to the US dollar, Bitcoin has performed remarkably well against the peso...Read More
As Bitcoin’s price remains confined to the $29,500 zone, many traders are wondering if this is a precursor to a bearish phase. Additionally, the SEC’s postponement in approving ETF applications has ignited a sell-off sentiment among traders. Yet, a leading crypto research company is bullish, projecting that BTC’s price might be on the edge of...Read More
It appears that the bullish wave has just begun! After the significant win of Ripple over the SEC, the asset management firm lists the very first Bitcoin spot ETF. Jacobi Asset Management, a London-based firm regulated by the Guernsey Financial Services Commission (GFSC), listed the world’s first Bitcoin spot ETF on Euronext Amsterdam after two...Read More
While the US SEC continues to reject or delay, at best, all spot Bitcoin ETF applications, such a product has seen the light of day in Europe. Called the Jacobi FT Wilshire Bitcoin ETF, it will be the first similar product compliant with SFDR Article 8 through its decarbonization strategy. The press release dated August...Read More
On Aug. 14, on-chain analytics provider Glassnode published its weekly market update, but there wasn’t much to report. Markets have hardly moved over the past week, and volatility is at record lows. The Bitcoin market has reached a stage of “extreme apathy and exhaustion,” it said before adding that volatility and several key on-chain indicators...Read More
Crypto fund inflows are running positive again after a three-week lull period, with the vast majority of capital rushing into Bitcoin (BTC). The renewed interest follows the release of inflation figures for July, which came in slightly better than expectations. Bitcoin Funds Back In Profit According to CoinShares’ weekly digital asset flows report, inflows to...Read More
Javier Milei – a 52-year-old Argentine politician, businessman, and economist – collected the most votes in the country’s primary presidential elections. The leader of the political coalition La Libertad Avanza (Freedom Advances) is a keen advocate of bitcoin and a fierce opponent of the central bank. He has also gained popularity due to a crypto...Read More
Fidelity recently asked its X followers to choose a new bill denomination. Two hours later, more than half the answers were cryptocurrencies. It’s another sign of crypto’s ascendance in the global economy. The trillion-dollar multinational finance company wanted to know what new bill denomination their social media followers would come up with: You get to...Read More
Famous podcast host and MMA commentator, Joe Rogan, is no stranger to Bitcoin (BTC). Having mentioned it in numerous conversations already, both he and his guests have praised the asset before for its absolute scarcity and freedom-focused properties, while contrasting it against the controlling nature of Central Bank Digital Currencies (CBDCs). He’s even accepted BTC...Read More
