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
In 2023, Bitcoin has delivered remarkable gains, surpassing the initial recovery phase and resuming an upward trajectory. The crypto-asset’s price has been hovering a little over $34,000 as it continues to ride on the coattails of spot ETF hype. But it is approaching the overheating zone, something that investors should pay attention to. According to...Read More
In a move that has sent shockwaves through the cryptocurrency market, a staggering 19,197 Bitcoin (BTC), equivalent to approximately $652 million, has been withdrawn from Binance, one of the world’s largest cryptocurrency exchanges. Notably, the withdrawal was carried out in two transactions as highlighted by Blockchain.com. This event has ignited intense speculation and discussions among...Read More
In September, a Seattle startup lab of white hat hackers sent proof to a senior writer at WIRED Magazine that they could crack the IronKey S200 thumb drive containing 7002 Bitcoins. But former Ripple CTO Stefan Thomas incredibly refused an offer by the Seattle startup, named Unciphered, to access the USB drive for him. Fmr....Read More
Bitcoin price surged in a breakout rally to briefly touch $35,000 this month. But Euro Pacific Capital’s founder and chief global strategist doesn’t think it will last. This month saw the ever-widening buzz surrounding a hotly anticipated approval by the SEC of a spot Bitcoin ETF. The excitement has pushed blowout Bitcoin sales on crypto...Read More
As Bitcoin hovers near the $35,000 mark, igniting a widespread surge in the crypto market, a new report hints at more gains in the offing for the flagship crypto asset. Matrixport, the digital asset trading firm established by Wu Jihan, co-founder of Bitmain, believes the current bull market actually initiated in June this year when...Read More
Bitcoin (BTC)’s explosion to a new yearly high on Monday has placed the vast majority of investors’ holdings back into profit, according to a new report from Glassnode. The blockchain and market intelligence platform said that 4.7 million BTC flipped green after the rally, representing 24% of Bitcoin’s circulating supply. Chaos In The Derivatives Market...Read More
The Depository Trust and Clearing Corporation (DTCC) removed BlackRock’s Bitcoin ETF, iBTC, from its ETF list shortly after its addition on Monday. Bitcoin’s price dropped by 3% in response, falling from $34,527 to $33,432 within 30 minutes shortly after the removal was noticed. The drop appears to have triggered $37 million in long liquidations across...Read More
Bitcoin is growing increasingly scarce, and its price movements are finally showing it. Recent statistics from the on-chain analytics platform IntoTheBlock reveal that an unprecedented portion of the accessible BTC supply has been securely stashed away for the long term. Long-Term Bitcoin Holders Remain Resilient Long-term Bitcoin holders have significantly ramped up their exposure to...Read More
While maintaining the $30,000 mark is proving challenging for Bitcoin, there appears to be a noteworthy surge in bullish sentiment. It can be attributed in part to the increased optimism of investors regarding the potential approval of a spot Bitcoin ETF in the US. A potential approval can push Bitcoin between $42,000 and $56,000, according...Read More
While giving a recent keynote address for Zoom’s 2023 Zoomtopia Conference, the Berkshire vice president said Bitcoin is the “stupidest investment I ever saw.” He didn’t stop there, though. Charlie Munger went on to say that most cryptocurrencies aren’t just unprofitable, but he thinks bagholders will eventually lose all their money: “Don’t get me started...Read More
Bitcoin briefly soared toward $30,000 following a false spot Bitcoin ETF approval information before swiftly retreating to the $28,000 level. But an actual approval could add $1 trillion to the crypto market, according to the latest report by CryptoQuant. The next wave of Bitcoin institutional adoption appears to be advancing in the form of financial...Read More
Grayscale Bitcoin Trust (GBTC) – the world’s largest Bitcoin fund – reached its lowest point in 22 months last Friday. The decline in the discount has sparked optimism as spot Bitcoin exchange-traded funds (ETFs) in the United States are moving closer to becoming a reality. This comes as the SEC passed the deadline to appeal...Read More
Bitcoin has surged past the $28,400 mark for the first time since mid-August, sparking investor optimism that “Uptober” has arrived. Data indicates that BTC wallets have accumulated billions of dollars in the last month, potentially driving prices even higher. A similar sentiment was voiced by experts who embraced the bullish outlook as the leading cryptocurrency...Read More
Bitcoin’s price has found itself trapped beneath the $27,000 mark amidst a significant decline in spot trading volumes that hit a 6-year bottom. This substantial slump in spot trading activity can be attributed to the growing fear surrounding the macroeconomic landscape. However, this downward trend in spot trading has an interesting side, according to CryptoQuant....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
Despite a lull in the broader crypto market, the industry is buzzed with excitement as heavyweight financial institutions throw their hats into the ring for a spot Bitcoin ETF. The latest one to join the race is – Franklin Templeton. In the fast-paced world of crypto, nothing lasts for a very long time. This also...Read More
Following a period of substantial capital inflows at the beginning of the year, the recent months have witnessed a shift towards either neutral or negative inflows, suggesting a period of stagnation as uncertainty took over the asset class. According to blockchain intelligence platform Glassnode, the market has been hovering on a relatively neutral level since...Read More
BitMEX co-founder Arthur Hayes said that the recent decision by the United States Federal Reserve (Fed) to lower interest rates is expected to trigger a rapid surge in Bitcoin’s price, potentially propelling it toward the $70,000 mark. Hayes had previously predicted that Bitcoin would reach this level after March, but the Fed had increased interest...Read More
Liquidity across the crypto market continues to dry up, with both on-chain and off-chain volumes reaching historical lows. These were the findings from analytics provider Glassnode in its latest weekly report on Sept. 11. Moreover, a “significant proportion” of the BTC supply is teetering on the edge of falling into a significant unrealized loss, it...Read More
Jay Clayton – former Chairman of the US Securities and Exchange Commission (SEC) – thinks the regulator will sooner or later approve the launch of a spot Bitcoin exchange-traded fund (ETF). The agency recently decided to delay the applications of BlackRock and numerous other finance giants who displayed ambitions to introduce such a product. Clayton...Read More
While Bitcoin network fundamentals such as hash rate and difficulty have reached peaks, the same cannot be said for its hash price. The world’s largest crypto’s price has failed to recover, and miners are facing the brunt of it yet again. Bitcoin hash price – which can be described as the revenue generated by miners...Read More
The latest edition of the weekly report from crypto exchange Bitfinex has revealed that Bitcoin’s mining difficulty reached a new peak as BTC hovered around the $26,000 price level. The “Bitfinex Alpha” report disclosed that the mining difficulty hit an all-time high of 55.62 trillion hashes. Bitcoin’s Mining Difficulty Hits New High The mining difficulty...Read More
