On-chain data shows that Bitcoin short-term holders have continued to make exchange inflows, but the asset’s price has held on so far. Bitcoin Short-Term Holders Make High Deposits For 20 Straight Days According to data from the on-chain analytics firm Glassnode, the short-term holders have sent 617,000 BTC to exchanges during the past 20 days.…
On Wednesday, an interview with BlackRock CEO Larry Fink went viral in which the CEO called Bitcoin an international asset. Not only that, Fink also pointed toward digital assets such as Bitcoin as being a way to digitize gold on the blockchain. This statement from the CEO has since been interpreted in various ways to…
Institutional interest in cryptocurrencies such as Bitcoin has been increasing in the past few months, with mainstream interest in the cryptocurrency industry. As a result, the largest crypto, Bitcoin, exploded in the first half of 2023, as its trading volume on various exchanges crossed $4.2 trillion. Bitcoin Sees Highest Trading Volume In March According to…
According to the latest report by Hashrate Index, a website for Bitcoin mining data and metrics, the UAE is now becoming a growing destination for Bitcoin miners, especially in the Middle East. Bitcoin Miners Look For Greener Pastures Bitcoin miners have faced issues in popular Bitcoin mining countries like China and Kazakhstan in recent years.…
Bitcoin (BTC) has been trading within a narrow range for the past 12 days. Nonetheless, the fact that bulls have held the crucial $30,000 support level is seen as a short-term win for them. Even though BTC has been experiencing sideways trading, there is a growing sense of optimism that it has the potential to…
According to recent hedge fund Ark Invest data, a historical amount of the Bitcoin supply has remained dormant for at least a year, with roughly 70% of the circulating supply unmoved in June 2023. Despite looming economic uncertainty, this dynamic occurs alongside a surge in institutional interest in the cryptocurrency. In June, several factors contributed…
Prominent Bitcoin mining company Marathon Digital Holdings has published its Bitcoin production and mining operation update for June 2023. In the report released yesterday, Marathon revealed that its Bitcoin production decreased by 21% from May due to weather-related issues in Texas and a decline in transaction fees on the Bitcoin network. “We produced 979 bitcoin…
On-chain data shows that the Bitcoin exchange supply has only continued to decline despite the recent rally that the asset has observed. Bitcoin Exchange Supply Continues To Register Net Decline According to data from the on-chain analytics firm Glassnode, exchanges have continued to see withdrawals recently. The indicator of interest here is the “exchange balance,”…
If historical Bitcoin price performance leads, one trader is adamant that the coin is at a critical inflection point at spot rates. Based on astronomical patterns and moon arrangement, trading desk QCP Capital believes Bitcoin prices can swing higher in a bull run towards the $33,000 to $35,000 level, reversing following sharp losses in 2022.…
The total Bitcoin Options open interest, the number of open call and put orders, recently rose to $14.87 billion on June 30 before falling to $10.74 billion on July 4, on-chain data on July 5 shows. Related Reading: Valkyrie Follows In BlackRock’s Footsteps, Refiles For Spot Bitcoin ETF At $14.87 billion, the total number of Bitcoin…