While Bitcoin struggles to extend gains, on-chain data shared by Ki Young Ju, the founder of CryptoQuant, on X shows increased movement of old coins. As the Bitcoin Average Dormancy chart shows, this trend recently hit a 13-year high. More Old Whales Moving Coins The Bitcoin Average Dormancy shows the average number of days each BTC has…
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Jack Dorsey’s payments company Block has shifted its focus from designing chips to developing a full Bitcoin mining system. In a recent blog post, Block unveiled its accomplishment of designing a standalone three-nanometer (3nm) Bitcoin mining chip and disclosed that it is currently collaborating with a leading global semiconductor foundry to finalize the chip’s design. However,…
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Bitcoin Price Prediction As Bitcoin (BTC/USD) hovers around $66,980, up approximately 1%, attention intensifies on its upward trajectory, potentially surging towards $70,000. Recent developments in the cryptocurrency market, particularly the influx of $59.7 million into U.S. Bitcoin ETFs after a period of outflows, signal a shift in sentiment. As institutional players like Grayscale’s GBTC near…
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Hackers exposed more information about El Salvador’s state-run Bitcoin wallet, Chivo, on April 23 after publicly leaking the personal data of its millions of users earlier this month. Hacker group CiberInteligenciaSV released part of the software wallet’s source code on BreachForums – a black hat hacking forum. El Salvador Hackers Strike Again “This time I bring…
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In a post on X, one analyst has picked out a key on-chain metric that could signal the beginning of a strong leg up, similar to the explosive gains 2017. Currently, Bitcoin prices remain steady and edging higher. However, the coin failed to register sharp upswings, as most traders had predicted before the Halving event on…
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A historical pattern currently forming in a Bitcoin on-chain indicator could suggest that a top may be near for the asset, if not already in. Bitcoin SOPR Ratio Is Forming A Historical Top Pattern Right Now In a CryptoQuant Quicktake post, an analyst has discussed about a pattern regarding the SOPR Ratio. The “Spent Output…
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Bitcoin halvings are a significant event in the world of cryptocurrencies. A halving occurs approximately every four years and has a direct impact on the issuance rate of new Bitcoins. Here’s how it works: The halving mechanism: Bitcoin’s block reward halves every 210,000 blocks (roughly every four years). Initially, miners received 50 Bitcoins per block,…
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Geoff Kendrick, head of digital assets research at Standard Chartered, recently reiterated the bank’s ambitious Bitcoin price target of $150,000 by the end of this year, despite current market volatility and geopolitical tensions. In a comprehensive interview with BNN Bloomberg, Kendrick highlighted the significant role of ETF inflows and upcoming halving events in driving Bitcoin’s…
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A recent analysis paints a rosy picture of Bitcoin’s future, even with a conservative growth projection. Taking to X, Michael Sullivan predicts that the world’s most valuable coin could reach a staggering $245,000 within just five years if it maintains a mere 30% compound annual growth rate (CAGR). Bitcoin Projections: From Conservative To Exponential Growth The analysis…
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As the Bitcoin (BTC) Halving event concluded for the fourth time, the cryptocurrency market witnessed notable changes in key metrics. These developments have led Charles Edwards, a market expert and founder of Capriole Invest, to issue bold predictions that hint at a paradigm shift in the BTC market. Bitcoin Trading At ‘Deep Discount’ One of…
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