BTC Dominance Signals Potential Bitcoin Rally on the Horizon
1 week ago 1 min read

BTC Dominance Surge: Bitcoin Rally Anticipated

Bitcoin (BTC) has returned to its familiar sideways trading pattern after briefly dipping into the lower $25,000 range. However, chart patterns are now hinting at the possibility of the flagship cryptocurrency breaking out of its dominance downtrend, potentially setting the stage for a rally in the decentralized finance (DeFi) sector. Bitcoin dominance plays a pivotal role in the cryptocurrency market’s dynamics. Recently, Bitcoin dominance broke its local downtrend while maintaining its higher timeframe uptrend. This development carries a bullish connotation, as history has shown that such a scenario often precedes an upward impulse for Bitcoin. A notable observation by pseudonymous

Bitcoin HODLer Dominance Peaks
2 weeks ago 1 min read

Bitcoin HODLer Dominance Reaches New High

Recent on-chain data has revealed a notable divergence between Bitcoin’s long-term holders (LTHs) and short-term holders (STHs), reaching unprecedented levels. This divergence underscores the varying strategies and behaviors of different segments of the cryptocurrency market. In an analysis shared on X, an analyst highlighted the widening gap between two significant cohorts in the Bitcoin market: short-term holders (STHs) and long-term holders (LTHs). Understanding these distinctions is crucial for gaining insights into market dynamics. Short-term holders, or STHs, are investors who acquired their Bitcoin holdings within the past 155 days. On the other hand, long-term holders, or LTHs, consist of individuals

Crypto Visionary Arthur Hayes Foresees Bitcoin Bull Run
2 weeks ago 1 min read

Bitcoin Bull Run Predicted by Co-founder Arthur Hayes

Arthur Hayes, the co-founder and former CEO of BitMEX, has shared his outlook on the future of Bitcoin, suggesting that a bull run is already in progress and will become more pronounced in the coming 6–12 months. Speaking at Korea Blockchain Week, Hayes delved into his predictions for the Bitcoin market. Hayes, well-known for his involvement in the cryptocurrency space, anticipates a significant uptrend in the price of Bitcoin. He believes that while the bull run has technically started, its effects will become more conspicuous over the next half-year to a year. This projection aligns with the broader sentiment among

JP Morgan analysts have made a prediction that the U.S. SEC could be compelled to approve several spot Bitcoin Exchange-Traded Funds (ETFs).
3 weeks ago 2 mins read

JP Morgan Believes the SEC Will Be Forced to Approve Bitcoin ETFs

JP Morgan analysts, led by Nikolaos Panigirtzoglou, have made a prediction that the U.S. Securities and Exchange Commission (SEC) could be compelled to approve several spot Bitcoin Exchange-Traded Funds (ETFs). This forecast follows Grayscale’s recent legal victory against the SEC. Last week, a federal court mandated the SEC to reevaluate its prior rejection of Grayscale’s request to convert its BTC Trust (GBTC) into a spot ETF. The court’s decision was based on the SEC’s “arbitrary and capricious” approach, where it failed to clarify its differing treatment of futures-based ETFs and spot-based Bitcoin ETFs. The court emphasized that the SEC’s rejection

Thailand Takes Aim at Facebook Over Alleged Crypto Scam Ads
1 month ago 1 min read

Facebook Faces Potential Shutdown in Thailand Over Alleged Crypto Scam Ad Promotion

The Thai government has reportedly considered taking legal action to shut down Facebook in the country due to its alleged role in promoting fake investment scam ads. The platform is accused of misleading over 200,000 individuals through these scams, prompting authorities to address the security concerns posed by the social media giant. Amidst growing concerns about fake investment scams, Thailand’s Minister of Digital Economy and Society (MDES), Chaiwut Thanakmanusorn, along with other ministry leaders, conducted a meeting on August 21 to discuss Facebook’s involvement in misleading the public. The platform is accused of aiding scammers who exploited the community with

Oman's Ministry of Transport, Communications, and Information Technology (MTCIT) has unveiled an initiative by inaugurating a data hosting and crypto mining center in the Salalah Free Zone.
1 month ago 2 mins read

Oman Launches $350 Million Crypto Mining Center, Making Waves in the Industry

Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT) has unveiled an initiative by inaugurating a data hosting and crypto mining center in the Salalah Free Zone. With an estimated value exceeding RO 135 million (around $350 million), this strategic move marks Oman’s foray into the global cryptocurrency and data hosting arena while contributing to its economic growth. Oman has taken a decisive step by launching its second cryptocurrency mining center, following the announcement of another facility in November 2022 valued at nearly $390 million. This combined investment of $740 million is poised to elevate the nation’s digital economy, create

Glassnode reveals a remarkable surge in the number of Bitcoins held by long-term investors
2 months ago 2 mins read

Long-term Bitcoin investors reach an all-time high of 14.599 million

Glassnode, a leading blockchain analytics company, has unveiled a groundbreaking report that reveals a remarkable surge in the number of Bitcoins held by long-term investors, reaching an all-time high of 14.599 million. This surge, which amounts to a staggering 43,949 Bitcoins (approximately $1.274 billion) added to these wallets in the past week, signifies a profound shift in investor behavior and confidence within the cryptocurrency landscape. Bitcoin addresses that have steadfastly held onto their investments for a minimum of 155 days are now recognized as long-term holders, often affectionately referred to as “HODLers.” Glassnode underscores the historical data, affirming that such

MicroStrategy recently announced a purchase of $361.4 million worth of Bitcoin
2 months ago 2 mins read

MicroStrategy to buy more Bitcoin (BTC)

MicroStrategy, a prominent corporate player in the crypto space, has once again made waves by acquiring a substantial amount of Bitcoin. The company recently announced a purchase of $361.4 million worth of Bitcoin, adding 12,800 BTC to its existing holdings. This move comes as part of MicroStrategy’s ongoing commitment to cryptocurrency investment, with plans to raise even more capital through stock issuance. MicroStrategy’s latest Bitcoin acquisition has elevated its total holdings to an impressive 152,800 BTC, marking a significant increase from 132,500 BTC recorded in February. The company’s decision to bolster its cryptocurrency reserves reflects a strategic approach to harnessing

Bitcoin (BTC) Soars to One-Week Highs
2 months ago 1 min read

Bitcoin Surges to Near $30K as MicroStrategy Reveals Stock Sale, BTC Purchase Strategy

Bitcoin (BTC) showcased a robust surge to reach one-week highs in the $29,700s on Tuesday, driven by the announcement from US software company MicroStrategy regarding its intention to significantly increase its BTC holdings. MicroStrategy unveiled its plans through a filing with the US Securities and Exchange Commission (SEC), indicating its intention to sell up to $750 million worth of stock, with a portion of the proceeds earmarked for additional bitcoin purchases. Having accumulated 152,333 BTC by June 27, MicroStrategy holds approximately 0.0078% of the total circulating supply of around 19.44 million Bitcoin tokens. The company’s journey into bitcoin accumulation commenced

BTC/USD order book on Binance
2 months ago 1 min read

Bitcoin Trading Volume Plunges to Early 2021 Levels, Fueling Concerns of $25K Potential Return

As Bitcoin (BTC) exhibited more sideways behavior, echoing the trend seen during the weekend and the previous week. The lack of significant market-moving events resulted in a brief spurt above $29,500 after the weekly close. However, bulls struggled to sustain momentum, leaving all eyes on the monthly close as a potential trigger for increased volatility. Monitoring resource Material Indicators provided an analysis of the BTC price action, noting that the cryptocurrency briefly surpassed $29,500, but failed to gain enough bullish momentum to advance further. As the month drew to a close, traders remained cautious about a potential trend shift. Material

The US SEC issued a strong cautionary message to investors regarding the cryptocurrency market
2 months ago 2 mins read

SEC Chairman Gary Gensler Warns Investors of Scams in Crypto Market and Addresses Bitcoin ETF Applications

Gary Gensler, the head of the US Securities and Exchange Commission (SEC), recently issued a strong cautionary message to investors regarding the cryptocurrency market, labeling it as “fraught with scams.” Additionally, he addressed concerns about Bitcoin ETF (Exchange-Traded Fund) applications during a television show on Bloomberg. In his statements, Gensler emphasized the speculative nature of cryptocurrencies, the absence of securities laws protection, and the prevalence of scams and scammers in the industry. Let’s delve into the details of his remarks and the implications for investors. Chairman Gensler’s warning reflects the SEC’s vigilance toward the cryptocurrency market’s inherent risks. The dynamic

Kyrgyzstan is set to enter the crypto mining arena
2 months ago 1 min read

Kyrgyzstan to Establish Crypto Mining Farms

Kyrgyzstan is set to enter the cryptocurrency mining arena with a groundbreaking $20 million project, as announced by President Sadyr Japarov. The government will be constructing a state-of-the-art crypto mining farm powered by a Hydroelectric Power Plant. This initiative aims to harness the country’s abundant hydroelectric resources and capitalize on the potential of cryptocurrencies to boost local revenue. Let’s delve into the details of this significant development. According to reports from July 27, President Japarov has given the green light for the construction of a crypto mining farm at the Hydroelectric Power Plant in Kyrgyzstan. This move comes in response