On-chain data shows the Bitcoin Hash Ribbons have recently gone through a crossover. Here’s what it could mean for the cryptocurrency. Bitcoin Hash Ribbons Suggest Miner Capitulation Is On As explained by CryptoQuant community manager Maartunn in a Quicktake post, miners are capitulating right now if the Hash Ribbons indicator is to be believed. This…
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Glassnode data has revealed that Bitcoin long-term holders are taking advantage of the cryptocurrency’s lower price to significantly increase their holdings. This accumulation further strengthens the belief that this group of Bitcoin investors anticipate a potential upside for Bitcoin despite its recent volatility. Long-Term Holders Pay $4.3 Billion For 70,000 BTC According to Glassnode, long-term…
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Crypto analyst CryptoCon has revealed a key level to watch out for as Bitcoin attempts to break critical resistance levels. The analyst suggested that a drop to this price level may not be bad for Bitcoin and could instead be necessary for it to finally make that price rally. $57,938 Is The Price Level To…
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Michael Novogratz, the founder of Galaxy Digital Holdings, a prominent digital-asset financial services firm, expects Bitcoin to remain in a relatively narrow trading range in the current quarter. During a conference call following the release of Galaxy Digital’s first-quarter results, Novogratz expressed his belief that the crypto market is currently in a consolidation phase. He…
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In April 2024, Bitcoin faced its sharpest price drop since the FTX collapse, with halving charts in focus, but network activity soared to record highs, driven by new protocols and ETF developments. This report explores and analyzes Bitcoin’s ecosystem and the BTC price developments last month. Key takeaways: The Bitcoin price dropped following the fourth…
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In an interview with Yahoo Finance’s “Wealth,” Ric Edelman, founder of the Digital Assets Council of Financial Professionals and $291 billion asset manager Edelman Financial Services, provided a striking forecast for the Bitcoin price. Edelman argued that Bitcoin’s price could surge to $420,000, attributing this potential rise to a modest global asset allocation towards Bitcoin.…
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El Salvador, which became the first nation to use Bitcoin (BTC) as legal tender, could easily hold 5,750 Bitcoins, per “Bitcoin Office” report. The national Bitcoin Office is a government entity aimed at managing all projects related to the cryptocurrency. Per a Reuters report, the nation mined nearly 474 Bitcoins since 2021 using geothermal power…
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A quant has explained how there appears to be a relationship between Coinbase’s spot volume dominance vs. Binance’s and the Bitcoin price. Bitcoin Has Been Reacting To Binance/Coinbase Volume Changes In a CryptoQuant Quicktake post, an analyst discussed the dynamics in the cryptocurrency market that arise out of the battle happening between Binance and Coinbase…
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A recent influx of investor disclosures has Bitwise, one of the United States’ leading Bitcoin ETF providers, “incredibly bullish” on BTC. The Top Institutional Bitcoin ETF Owners In a recent memo, Bitwise CIO Matt Hougan reviewed some of the newly uncovered Bitcoin ETF buyers, who have revealed their allocations as part of mandatory 13F filings…
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Bitcoin Price Prediction Bitcoin is currently trading at $61,500, with a 24-hour trading volume of $28.28 billion. The cryptocurrency has dropped about 2.25% in the past day. Ranked first on Cryptonews, Bitcoin boasts a market cap of $1.21 trillion, with a circulating supply of 19,698,325 BTC and a maximum supply of 21,000,000 BTC. The U.S.…
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