Browsing:BTC

Bitcoin (BTC) whales have seized the opportunity to increase their holdings
10 months ago 1 min read

Bitcoin Whales Buy $3.5 Billion in BTC During Market Downturn

As the cryptocurrency market battles to recover from recent setbacks, the largest holders of Bitcoin (BTC) have seized the opportunity to increase their holdings while prices have remained relatively low. These Bitcoin whales, wallets holding between 1,000 and 10,000 BTC, have collectively amassed around 131,600 BTC (worth over $3.5 billion) in the past 11 weeks, according to data from Santiment, a blockchain and crypto analytics platform. This surge in accumulation brings their collective supply levels to a seven-week high, indicating a significant influx of BTC despite the market’s downturn. The data reveals a notable spike in accumulation by Bitcoin whales,

Bitcoin has once again demonstrated its dominance in the market
10 months ago 2 mins read

Bitcoin Market Dominance Surges Above 50% for First Time Since May 2021

Bitcoin, the pioneering cryptocurrency, has once again demonstrated its dominance in the market, surpassing the combined market capitalization of all other cryptocurrencies. According to data from TradingView, Bitcoin’s market capitalization has risen to exceed 50% for the first time since May 2021. This milestone comes after a period of significant volatility, marked by events such as China’s crypto mining ban and environmental concerns raised by Tesla. As the crypto market endured challenges, Bitcoin emerged as a resilient force, outperforming other leading cryptocurrencies like Ethereum (ETH), Cardano (ADA), Solana (SOL), and Polygon (MATIC). In May 2021, Bitcoin experienced a sharp decline

BlackRock’s ETF would be called the iShares Bitcoin Trust
11 months ago 1 min read

BlackRock Files for Bitcoin Spot ETF

BlackRock, the world’s largest asset manager, has filed an application with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin spot exchange-traded fund (ETF). If approved, this would be the first Bitcoin spot ETF in the U.S. BlackRock’s ETF would be called the iShares Bitcoin Trust and would be listed on the New York Stock Exchange Arca. The fund would track the price of Bitcoin using the CF Benchmarks Bitcoin Reference Rate (BRR). BlackRock is a major player in the financial services industry and has over $10 trillion in assets under management. The firm’s entry into the Bitcoin ETF

The exchange supply of Bitcoin has reached its lowest point since Feb 2018
11 months ago 2 mins read

Bitcoin Exchange Supply Hits Lowest Level Since 2018 Amid Binance and Coinbase Uncertainty

The exchange supply of Bitcoin (BTC) has reached its lowest point since February 2018, as traders opt to move their BTC holdings to self-custody wallets. This trend has emerged amidst the ongoing uncertainty surrounding major cryptocurrency exchanges Binance and Coinbase, both of which are facing regulatory challenges from the Securities and Exchange Commission (SEC). As long as these SEC lawsuits remain unresolved, it is expected that the trend of BTC moving to self-custody will continue. Bitcoin Exchange Supply Reaches Historic Low In a significant development, the exchange supply of Bitcoin has plummeted to levels not seen since February 2018. This

The release of inflation data by the US on June 13 caused a surge in Bitcoin's price as investors speculated on the potential impact
11 months ago 1 min read

Bitcoin Surges as US CPI Hits 4% in May

The release of inflation data by the United States on June 13th caused a surge in Bitcoin’s price as investors speculated on the potential impact of the numbers on the Federal Reserve’s monetary policy. The Consumer Price Index (CPI) for May indicated a year-over-year increase of 4%, slightly lower than the anticipated 4.1%. Meanwhile, the core CPI, which excludes volatile sectors like food and energy, showed a higher-than-expected increase of 5.3% compared to the estimated 5.2%. This article explores the immediate market reaction to the inflation data and the potential implications for Bitcoin. In response to the inflation data release,

Market Shifts Pave the Way for Bitcoin's Dominance to Reach 50%
11 months ago 1 min read

Bitcoin Dominance Nears 50% as Market Dynamics Shift

Bitcoin dominance, a measure of Bitcoin’s market capitalization compared to the total cryptocurrency market cap, has surged to nearly 50% as investors seek stability in the market. Bitcoin dominance has been on the rise since the beginning of the year, and it has accelerated in recent weeks as the global economy has shown signs of weakness. Investors are increasingly viewing Bitcoin as a safe haven asset, and they are buying Bitcoin in anticipation of further market volatility. The recent surge in Bitcoin dominance has been fueled by a number of factors, including: The recent surge in Bitcoin dominance is a

Crypto Prices Plunge, Suffering Losses of 25% or More
11 months ago 1 min read

Crypto Prices Experienced Significant Drops of 25% or More Yesterday

The cryptocurrency market experienced a significant crash yesterday morning, with many altcoins losing significant value. Bitcoin and Ether, the two largest cryptocurrencies by market capitalization, also experienced losses, but to a lesser extent. The crash was likely triggered by a combination of factors, including the recent lawsuits filed by the Securities and Exchange Commission (SEC) against major crypto exchanges, Coinbase and Binance. The SEC has alleged that these exchanges violated securities laws by selling unregistered securities. The SEC’s lawsuits have heightened regulatory uncertainty in the crypto market, leading to increased selling pressure. This selling pressure was likely exacerbated by the

Dormant Bitcoin Account Springs to Life, Moves $40 Million in Funds
11 months ago 2 mins read

Mysterious Bitcoin Whale Awakens, Transfers Around $38 Million in Funds

A long-dormant Bitcoin wallet, which held a significant sum of 1,432.93 bitcoins valued at $37.8 million, has recently transferred its funds to a new address. This move comes after more than a decade of inactivity, attracting attention within the cryptocurrency community. The wallet first received bitcoin back in April 2013, when the price per coin was a mere $195.40, as observed by on-chain analyst Lookonchain. This transfer is part of a series of similar movements witnessed in recent months, involving other long-idle addresses in the cryptocurrency space. Dormant wallet transfers $37.8 million worth of Bitcoin. After remaining inactive for over

Predicting the price of Bitcoin with a high degree of accuracy is challenging and many predictions may turn out to be incorrect
11 months ago 2 mins read

Should people stop predicting Bitcoin price?

While it’s true that predicting the price of Bitcoin with a high degree of accuracy is challenging and many predictions may turn out to be incorrect, it doesn’t necessarily mean that people should stop attempting to predict its price altogether. Here are a few reasons why predictions can still be valuable despite their inherent uncertainty: It’s important to approach predictions with caution and consider them as one piece of the puzzle rather than relying solely on them for investment decisions. Combining predictions with fundamental analysis, market research, risk management strategies, and a diversified investment portfolio can help mitigate risks and

PEPE Token Soars 16% After SEC Impact
11 months ago 1 min read

PEPE Token Skyrockets 16%, Terra Classic (LUNA) Jumps 15% as Bitcoin Recovers from SEC-Induced Downturn

Bitcoin has surprised the market by defying expectations and experiencing a rapid surge of $2,000 in just a few hours, despite facing a second high-tier lawsuit launched by the US Securities and Exchange Commission (SEC) against a crypto company. This positive momentum has also influenced altcoins, with Ethereum (ETH) nearing $1,900 and several others turning green. Altcoins Recover Alongside Bitcoin: Altcoins, which suffered significant losses alongside Bitcoin due to the SEC-related lawsuit, have seen a notable change in the market landscape. Ethereum dropped to $1,800 but has since rebounded with a 3.5% increase, approaching the $1,900 mark. Other altcoins have

The Bitcoin network was very active in May
11 months ago 1 min read

Bitcoin Transaction Fees Reach New Highs, Boosting Miner Revenue

The Bitcoin network was very active in May, with transaction fees reaching a two-year high. This led to a good month for miners, who earn a portion of the transaction fees as a reward for processing transactions. Ordinals and BRC-20 Activity Drive Up Transaction Fees The surge in transaction fees was driven by activity on the Ordinals and BRC-20 protocols. Ordinals is an NFT protocol that launched on Bitcoin mainnet in January, and BRC-20 is a sidechain that allows for the creation of decentralized applications on Bitcoin. Miners Earn More in Transaction Fees As a result of the higher transaction

Bitcoin and Crypto Markets Face Potential Tough Road Ahead, Warns Bloomberg Analyst
11 months ago 1 min read

Bloomberg Analyst Predicts Challenging Times Ahead for Bitcoin and Crypto Markets

According to Bloomberg Intelligence’s senior macro strategist Mike McGlone, the second half of 2023 could be bearish for Bitcoin (BTC) and the rest of the crypto markets. McGlone believes that risk assets, such as stocks and crypto, could get cheap in the coming months as he believes that an economic recession is on the horizon. “Risk assets can get cheap in recessions,” McGlone said in a recent note. “The cat-and-mouse game between the rallying stock market and watchful central banks could be an obstacle for risk assets. Cryptos are among the riskiest, and the inability of the Bloomberg Galaxy Crypto

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