A recent report from SoSoValue shows significant movements in the Bitcoin exchange-traded funds (ETFs) market, mainly focusing on the outflows observed in Grayscale’s Bitcoin Trust (GBTC) and the broader net outflow of $58.03 million from Bitcoin spot ETFs. The data highlights the dominance of outflows, with GBTC alone experiencing a net outflow of $79.38 million, contributing to…
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In his latest technical analysis, Christopher Inks, a recognized figure in the field of crypto analysis, points to the possible formation of a bullish Adam and Eve double bottom pattern for Bitcoin. This formation is spotted on the BTC/USD 1-hour chart and has significant implications for the cryptocurrency’s short-term price action. The chart depicts Bitcoin’s…
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Bitcoin mining companies are experiencing a significant decline in their stock prices as they face reduced revenue due to an upcoming code update for the largest cryptocurrency. Companies such as Marathon Digital Holdings Inc., Riot Blockchain Inc., and CleanSpark Inc. have seen their stock prices fall for three consecutive days. The Valkyrie Bitcoin Miners exchange-traded…
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Bitcoin stands at the forefront, with its upcoming halving event sparking excitement and uncertainty among investors. As the countdown to Bitcoin’s fourth halving narrows to roughly three days, market dynamics have taken a tumultuous turn, with significant implications for the digital asset’s price trajectory. Deciphering BTC’s Halving Patterns: Insights Into Pre-Event Price Behaviour While the…
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According to analysts at Bitfinex, Bitcoin and its recent activity on exchanges reflects a pattern reminiscent of December 2020, hinting at a possible growth phase. The exchange’s latest report highlights a significant decline in the supply of Bitcoin held by long-term investors on centralized exchanges, reaching its lowest levels in 18 months. This trend, coupled…
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The available Bitcoin supply on exchanges is rapidly diminishing, potentially reaching depletion within the next nine months, according to a Monday analysis by Bybit. Citing data from CryptoQuant, Bybit wrote in a blog post that only 2 million BTC is present on centralized crypto trading platforms, representing less than 10% of the entire network’s supply. Cratering Bitcoin Exchange Supply Before Halving “If we assume a daily inflow of $500 million to Bitcoin Spot ETFs, the equivalent…
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Bitcoin’s soon-to-launch “Runes” token standard will allow the premiere crypto network to catch up to rivals in the realm of DeFi, predicted asset manager Franklin Templeton in a Monday report. The Promise Of Runes The firm released a fact sheet expanding on the upcoming technology over Twitter, which is set to go live at the…
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While Bitcoin prices hover around 15% below their all-time highs, with some skeptics predicting more losses, one analyst on X expects the coin to bounce strongly, even breaking above all-time highs. Taking to X, the trader argues that Bitcoin has yet to breach the Golden Ratio Multiplier’s Cycle Top, currently sitting at $79,591. Supposedly, the analyst continues,…
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10x Research Founder Markus Thielen who predicted Bitcoin’s recent pre-halving rally to all-time highs has turned bearish on risk assets such as technology stocks and cryptocurrencies. In a CoinDesk interview in February 2024, Theilin stated that “Bitcoin rallies an average of 32% in 60 days ahead of the halving”. Citing it to be upheld as…
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Bitcoin Depot, the largest Bitcoin ATM operator in the United States, has reported robust revenues despite the highly volatile nature of cryptocurrency prices. In its recently filed 10-K annual report on April 15, the company revealed that its revenues in 2023 and 2022 amounted to $689 million and $647 million, respectively, showing no significant correlation…
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