Bitcoin price started a fresh decline from the $60,000 resistance zone. BTC is now moving lower and might test the $57,650 support zone. Bitcoin started a fresh decline from the $60,000 resistance zone. The price is trading below $58,800 and the 100 hourly Simple moving average. There was a break below a key bullish trend…
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According to the latest data from CryptoQuant, bears might be in control of Bitcoin given the asset’s funding rates reaching a negative level across all crypto exchanges, including Binance. For context, funding rates are essential in perpetual futures markets to ensure the price of perpetual contracts aligns closely with the spot market. These rates can…
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Another transfer by the US government of originally seized Bitcoin from the notorious Silk Road has sparked widespread speculation on Wednesday, August 14. Blockchain analytics firm Arkham reported yesterday that 10,000 Silk Road BTC, valued at approximately $593.5 million, were transferred to Coinbase Prime, a platform used primarily for institutional investors. According to Arkham’s post…
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Bitcoin’s (BTC) price continues fluctuating within the $58,000 to $61,000 price range following its recovery from the ‘Black Monday’ crash. However, analysts remain unsure about the next step for the flagship cryptocurrency. Some market watchers suggest the key levels BTC must break to continue the bullish run, while others highlight signals that could indicate a…
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Bitcoin is trading for $59,545, a slight increase of 0.5% in the past 24 hours. Although little, this surge in its price is quite noteworthy as it comes against the backdrop of Bitcoin’s price plunging as low as $57,812 earlier today. Regardless of this modest recovery, a recent analysis by a CryptoQuant author on the…
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The Bitcoin price continues to trade sideways, as uncertainties on the macro side have made investors undecided about their next move. Crypto analyst Michael van de Poppe has provided insights into Bitcoin’s price trajectory and has raised the possibility of the crypto dropping to as low as $48,000. What Could Make Bitcoin Drop To As…
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Despite the muted performance of Bitcoin in recent months, the 13-F filings for the spot exchange-traded funds (ETFs) paint a bullish picture for the BTC price. Bitwise Chief Investment Officer (CIO) Matt Hougan has shared a recap of the three most interesting takeaways from the Q2 filings via X. His findings underscore a growing and…
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On-chain data suggests the Bitcoin price found its bottom following the recent crash around this important investor cost basis level. Bitcoin Found Its Bottom Near Active Investor’s Cost Basis According to the latest weekly report from Glassnode, Bitcoin formed its recent bottom near the cost basis of the “active investors.” To understand what this level…
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As the 2024 presidential election approaches, the idea of the United States government establishing a strategic Bitcoin reserve is gaining momentum. This potential policy shift has been championed by former President Donald Trump and pro-crypto Senator Cynthia Lummis, who see it as a novel way to help pay down the country’s $35 trillion national debt.…
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A transaction unearthed by Arkham Intelligence revealed that bitcoins linked to the Silk Road have been moved to Coinbase Prime. “10K Silk Road BTC ($593.5M) moved to Coinbase Prime,” Arkham posted on X. The firm further explained, “Wallet bc1ql received 10K BTC from a known US Government wallet 2 weeks ago. This BTC has just…
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