Bitcoin is trading for $59,545, a slight increase of 0.5% in the past 24 hours. Although little, this surge in its price is quite noteworthy as it comes against the backdrop of Bitcoin’s price plunging as low as $57,812 earlier today. Regardless of this modest recovery, a recent analysis by a CryptoQuant author on the…
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The Bitcoin price continues to trade sideways, as uncertainties on the macro side have made investors undecided about their next move. Crypto analyst Michael van de Poppe has provided insights into Bitcoin’s price trajectory and has raised the possibility of the crypto dropping to as low as $48,000. What Could Make Bitcoin Drop To As…
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Despite the muted performance of Bitcoin in recent months, the 13-F filings for the spot exchange-traded funds (ETFs) paint a bullish picture for the BTC price. Bitwise Chief Investment Officer (CIO) Matt Hougan has shared a recap of the three most interesting takeaways from the Q2 filings via X. His findings underscore a growing and…
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On-chain data suggests the Bitcoin price found its bottom following the recent crash around this important investor cost basis level. Bitcoin Found Its Bottom Near Active Investor’s Cost Basis According to the latest weekly report from Glassnode, Bitcoin formed its recent bottom near the cost basis of the “active investors.” To understand what this level…
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As the 2024 presidential election approaches, the idea of the United States government establishing a strategic Bitcoin reserve is gaining momentum. This potential policy shift has been championed by former President Donald Trump and pro-crypto Senator Cynthia Lummis, who see it as a novel way to help pay down the country’s $35 trillion national debt.…
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An influx of $2.5 billion in stablecoins is anticipated to potentially drive a significant surge in the Bitcoin price, as detailed in a new report by Markus Thielen, a market researcher at 10x Research. Bitcoin Price Boost Is Incoming In his latest research note, Thielen explains the critical importance of monitoring and analyzing crypto money…
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Though buyers stand a chance, Bitcoin is steady when writing, teetering at the $60,000 level. After rejecting August lows, the bounce above the round number at $60,000 to as high as $63,000 by the end of last week was impressive. However, from the daily chart, prices are moving sideways in a possible accumulation, bounded by…
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Veteran crypto analyst, Peter Brandt has uncovered an inverted or expanding triangle pattern in Bitcoin (BTC). Utilizing classical charting principles, Brandt analyzes the technical pattern formation, highlighting its potential impact on Bitcoin’s price trajectory. What Bitcoin’s Inverted Triangle Pattern Means On August 12, Brandt took to X (formerly Twitter) to shed light on a recent…
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Bitcoin buyers might be upbeat after the uptick on August 8. While traders are waiting for a conclusive close above $63,000, confirming bulls of the second half of last week, on-chain data points to risk and traders staying on the sidelines. Traders Cautious: Will The Bitcoin Consolidation Continue? Taking to X, one on-chain analyst said.…
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A crypto analyst has unveiled a highly optimistic forecast for Bitcoin (BTC), suggesting that the end of the supposed Bitcoin bear trap could propel the price of the cryptocurrency to new highs, potentially reaching $72,000. Bitcoin Set To Hit $72,000 In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Sensei’ has predicted…
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