The dream of a spot Bitcoin exchange-traded fund (ETF) in the US is still yet to become a reality as various investment firms continue to seek approval from the Securities and Exchange Commission (SEC) despite multiple rejections. In a recent turn of events, Valkyrie, an alternative asset management company specializing in the emerging cryptocurrency sector,…
A recent development has caught the attention of on-chain analysts and Bitcoin enthusiasts alike. On-chain expert Axel Adler Jr, citing data from CryptoQuant, has revealed that wallets belonging to the ‘Humpback’ cohort, have reached a new all-time high (ATH). This surge has raised speculation about the involvement of institutional giants such as BlackRock or Fidelity.…
Luminex, a Bitcoin Ordinals launchpad, has proposed a new standard called BRC-69, which will allegedly optimize the costs of inscribing on this network. This proposal comes barely a month after Bitcoin Ordinals’ developers introduced recursive inscriptions to address the block size limit of 4 MB. Unlike normal Ordinals inscriptions, recursive inscriptions can reference each others’…
Bitfinex, one of the world’s leading cryptocurrency exchanges, has released a report indicating that Bitcoin (BTC) has been sold in profit since its initial break above $30,000, suggesting early signs of a bull market. The report highlights two key on-chain metrics, the Spent Output Profit Ratio (SOPR) and Net Unrealised Profit and Loss (NUPL), which…
On-chain data shows 75% of the entire Bitcoin circulating supply is now in profit, something that could lead to a drop for the asset. Bitcoin Supply In Profit Has Registered An Uptick Recently As pointed out by an analyst in a CryptoQuant post, there may be a risk that the investors would participate in profit-taking…
Renowned crypto analysis channel BitBoy Crypto recently presented a bullish forecast for Bitcoin, projecting a potential surge to $140,000. The leading cryptocurrency, currently enjoying a strong position in the market, could be poised for a significant climb, according to AJ, an analyst from BitBoy Crypto. This forecast comes at a time when Bitcoin continues to…
Over the last month, a coordinated attack against altcoins by the US SEC caused Bitcoin dominance to surpass 50%. Above the psychological level makes BTC more valuable as a whole than the entire crypto market. However, a technical signal has appeared that in the past put in a peak in BTC.D and suddenly sparked a…
Bitcoin has risen by almost 80% in the first six months of 2023. However, as has been the case in the past, the cryptocurrency has experienced periods of stagnation before making any significant moves. This has resulted in a consolidation phase that has left investors waiting in anticipation for the next direction. And if attempts…
On-chain data shows that Bitcoin sharks and whales have continued to accumulate recently, something that could help the rally go parabolic this month. Bitcoin Sharks & Whales Have Continued To Add To Their Holdings According to data from the on-chain analytics firm Santiment, BTC sharks and whales have participated in further buying during the past…
Bitcoin had been trending over $31,000 for the better part of Friday after reclaiming this support level from the bears. However, this did not last long as the digital asset saw a flash crash that sent its price spiraling toward the $29,000 level. SEC Says ETF Filings Are Inadequate On Friday, the Wall Street Journal…