An analyst has explained why the recent high in Bitcoin has experienced different market conditions than those observed during the 2021 bull run peak. Bitcoin Liquidations Have Been Short-Dominated In Recent Market High In a new post on X, on-chain analyst Checkmate pointed out how the latest 2024 high achieved following the spot exchange-traded fund…
Bitcoin, the leading cryptocurrency, has recently been scrutinized by several analysts and traders as it struggles to maintain its market position. Michaël van de Poppe, a recognized figure in the crypto analysis sector, has recently expressed his concerns regarding Bitcoin’s current price trajectory. Bitcoin Risks Dropping to $52,000, Why? Taking to Elon Musk’s social media…
Grayscale Investments, the issuer of one of the recently approved spot Bitcoin exchange-traded funds (ETFs) in the US, saw flat revenues in the first quarter of the year due to its decision to maintain fees on its flagship Grayscale Bitcoin Trust ETF (GBTC). Grayscale Exceeds Expectations Despite Outflows According to a shareholder letter from its…
The Bitcoin price has experienced heightened volatility over the past week. After recovering from a low of $56,500, the largest cryptocurrency in the market surged to $65,500 within four days. However, it has since retraced some of its gains and is currently testing the $61,000 support level. Despite this volatility and the absence of strong…
The Bitcoin mining difficulty has experienced a significant decrease, the largest drop observed in the last 18 months. This change is directly tied to fluctuations in the network’s hash rate, which has dipped below 600 EH/s following the recent halving event. The adjustment, which marks a 5.7% fall in mining difficulty, brings the level down…
Bitcoin has been trending lower after failing to break above $66,000 in early May, deflating hopes of immediate price gains post-Halving. Taking to X, one analyst shared on-chain data that paints a more nuanced picture than a simple loss of confidence in recent weeks. Bitcoin Open Interest Remains Low: Bullish? The analyst, pointing to CryptoQuant data, observes…
Ki Young Ju, CEO of cryptocurrency analysis firm CryptoQuant, has given an ultra-bullish prediction for Bitcoin. The crypto founder alluded to certain factors that could spark the flagship crypto’s rise to such heights. Bitcoin Could Rise To As High As $265,000 Young Ju mentioned in an X (formerly Twitter) post that “Bitcoin’s network fundamentals could…
As the clock ticks closer to the end of today, May 3, the cryptocurrency market braces itself for potential upheavals, with roughly $2.4 billion worth of Bitcoin and Ethereum options set to expire. This significant event could catalyze notable shifts in market dynamics, steering the trajectory of Bitcoin and Ethereum prices in the near term.…
The CEO of analytics firm CryptoQuant has explained how the Bitcoin network fundamentals could support a market cap three times the current size. Bitcoin Hashrate/Market Cap Ratio Could Reveal Ceiling For Cycle In a new post on X, CryptoQuant founder and CEO Ki Young Ju has talked about what the network fundamentals could reveal about…
Thomas Jong Lee, the Chief Executive Officer (CEO) of Fundstrat, an independent financial research boutique, has maintained a bullish stance on Bitcoin. The financial analyst has predicted that the world’s largest cryptocurrency could surge massively, doubling its current price to reach $150,000 during the 2024 crypto market cycle. Bitcoin Could Go Parabolic In 2024 During…