BTC price looks to break out of its downtrend, yet pro traders are still unwilling to add leveraged positions. This week’s Bitcoin (BTC) chart leaves little doubt that the symmetrical triangle pattern is breaking to the upside after constricting the price for nearly 20 days. However, derivatives metrics tell a completely different story because professional…
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Bitcoin has long been known as a “store of value,” but is the world’s largest cryptocurrency transitioning to becoming a risk-off asset in 2022? Thursday was a bloodbath for traditional and cryptocurrency markets. On the worst day of trading since 2020, Bitcoin (BTC) dropped over 7%, while the Nasdaq slipped over 5%. Many hoped for capitulation…
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“For us, we think the cryptocurrency markets represent tremendous growth,” said SkyBridge founder Anthony Scarramucci. SkyBridge Capital is working on pivoting the majority of its assets under management (AUM) to digital assets, as the sector represents “tremendous growth” for the firm. The hedge fund was founded by former United States politician Anthony Scaramucci in 2005…
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The U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive. Compass…
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DOGE’s price could swell by more than 150% on a classic bullish reversal setup known as the falling wedge. A brutal correction witnessed in the Dogecoin (DOGE) market between May 2021 and February 2022, which saw the price dropping by almost 85%, appears to have come to a halt this month. DOGE/USD rebounds 30% in…
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Gold surpassing Bitcoin’s returns this year is “unlikely,” says Mike McGlone, while former BitMEX CEO Arthur Hayes predicts seismic changes for both assets in the coming years. Bitcoin “may be primed” for a quantum leap in its development thanks to inflation this year, a Bloomberg analyst has claimed. In a tweet on March 17, Mike…
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The number of Bitcoin addresses holding at least 1,000 BTC has risen in recent weeks. Bitcoin (BTC) addresses holding at least 1,000 BTC, the so-called whales, have started accumulating more tokens during the recent market recovery. As of Feb. 10, the total supply in these addresses was 8.096 million BTC versus 7.95 million on Jan.…
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Grayscale Investments has launched its first exchange-traded fund (ETF). The Grayscale Future of Finance ETF “seeks to invest in the companies and technologies shaping the ‘future of finance.’” Grayscale’s First ETF Grayscale Investments, the world’s largest digital currency asset manager, announced Wednesday the launch of its first exchange-traded fund (ETF) called Grayscale Future of Finance…
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Many analysts agree that the “dynamic support” could boost accumulation sentiment in the ETH market. Ethereum’s native token, Ether (ETH), could see yet another strong rebound in the sessions ahead as its price falls into a trading zone with a recent history of attracting buyers. The rising trendline has been triggering ETH’s price rebounds since…
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