Bitcoin has experienced a pullback of over 10% from its all-time high, with the demand for spot Bitcoin exchange-traded funds (ETFs) showing signs of moderation, while analysts at JPMorgan Chase and Co. have cautioned that this retreat may have more room to run, Bloomberg reported Friday. The group of 10 spot Bitcoin ETFs recently witnessed its largest…
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After capitulating on March 19, Bitcoin recovered on March 20. However, while the crypto community expects more rapid gains, even above the all-time highs of around $73,800, Willy Woo, an on-chain analyst, thinks the coin will likely consolidate in the days ahead. SOPR Peaked At An Unusually High Level: Profit-Taking? Taking to X, Woo listed several on-chain…
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The 10 spot Bitcoin ETFs experienced their biggest three-day outflow since their debut in January, as reported by Bloomberg. This shift in investor sentiment comes after heightened interest that propelled the largest cryptocurrency in the market to a record high of $73,700. Bitcoin ETFs See Record Outflows Between Monday and Wednesday, a net total of…
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Within the last 24 hours, the market witnessed a significant rally in the Bitcoin price, which soared by 10% from a daily low of $60,805 to a peak of $68,250. This remarkable price movement can be attributed to several key factors, including yesterday’s Federal Open Market Committee (FOMC) meeting, a notable change in the Coinbase…
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Bitcoin remains under pressure when writing and is within a bearish formation following sharp losses on March 19. While prices tank, one analyst on X thinks this retracement aligns with historical performance, especially as the network prepares to slash miner rewards in April 2024. Bitcoin Retracement Similar To Pre-Halving Cool-Off Of 2020 Based on the analyst’s assessment,…
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The Bitcoin (BTC) price is pumping in the wake of the latest Fed policy announcement, which saw the bank leave interest rates unchanged at 5.25-5.5% for a fifth successive meeting and continue to forecast three rate cuts in 2024. Bitcoin was last trading above in the mid-$67,000s, up around 9% daily. The BTC price has…
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The Bitcoin (BTC) bull run has clear skies above following the Federal Open Markets Committee (FOMC) interest rate decision on Wednesday. The Federal Reserve opted to keep its target interest rate flat in the range of 5.25% to 5.50%, despite February’s inflation figures clocking in slightly higher than expected last week at 3.2%. The FOMC…
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Bitcoin has experienced a sharp decline from its March 14 high of over $73,600 to today’s low of under $60,800, translating to a -17% loss in value. This significant drop has prompted a flurry of activity on social media platforms, particularly X (formerly Twitter), where crypto experts have been fervently discussing the potential reasons behind…
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This week could mark a pivotal moment in the first quarter of 2024 for the entire crypto market and the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), as major central banks, led by the Bank of Japan and the US Federal Reserve (Fed), prepare to announce their interest rate decisions. According to crypto futures…
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Bitcoin experienced a significant price collapse amid continued outflows from Grayscale’s converted GBTC spot Bitcoin ETF. According to data from CoinMarketCap, the leading cryptocurrency dropped to as low as $60,800 on Tuesday, a 17% decline from its all-time high. The decline in Bitcoin price came after a significant outflow of $643 million from the $25 billion Grayscale…
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