Bitcoin is still pushing a price recovery on its quest to return to the $70,000 price level. This has seen the cryptocurrency now trading above $69,000, up by 1.6% in the past 24 hours. This price fluctuation has occurred in the middle of increased accumulation activity from some whales and some short-term holders. Blockchain analytics…
The Bitcoin price has somewhat slowed down since reaching the unprecedented high of $73,000, moving mostly sideways since mid-March. However, with the halving event less than a fortnight away, all eyes will be on the premier cryptocurrency and all that pertains to it over the next couple of weeks. According to a recent on-chain observation,…
Embattled crypto lender Genesis Global Capital has continued to ramp up efforts to pay up creditors after filing for bankruptcy protection in January 2023. As part of these efforts, Genesis has now reportedly sold off the entirety of its Grayscale GBTC holdings to acquire a substantial amount of Bitcoin in order to implement its repayment…
The recent approval of Bitcoin exchange-traded funds (ETFs) by the SEC sent jitters through the financial world. Initial concerns about fading demand seem unfounded as Bitcoin ETFs continue to shatter trading volume records. This is further bolstered by three consecutive sessions of net inflows into these investment vehicles. Bitcoin ETF Inflows Signal Long-Term Investor Appetite A…
Generally, the crypto market has been experiencing a pullback after Bitcoin and many other coins like Ethereum have recorded a new all-time high of which Arbitrum (ARB) was not left behind. Arbitrum, which has a lot of potential with a market cap of over $3.8 billion and a circulating supply of 2,653,939,384 ARB has been…
The recent ratio between Bitcoin (BTC) and Ethereum (ETH) prices suggests a potential decline in risk appetite within the crypto market. The ratio has reached its highest level since April 2021, indicating a stronger demand for Bitcoin than its smaller rival, Ethereum. This development has led crypto asset trading firm QCP Capital to speculate that…
Over the past week, Bitcoin (BTC) has struggled to move significantly to the upside as the leading cryptocurrency has entered a consolidation phase below the $69,000 mark. This subdued volatility departs from Bitcoin’s usual fluctuations, raising speculation about a potential stagnation phase in its market trajectory. Anticipation Builds For Bitcoin’s Next Rally The cryptocurrency community…
Bitcoin may be dripping lower at spot rates. Still, one analyst is unfazed, expecting the coin to reverse recent losses and snap up firmly before peaking in December 2024. At spot rates, BTC is down roughly 11% from 2024 peaks and struggling to generate sufficient buying pressure, looking at the formation in the daily chart.…
Crypto Jelle, a cryptocurrency analyst and aficionado, has expressed optimism toward the price action of Bitcoin, highlighting the potential for the digital asset to revisit the $69,000 threshold in the short term. Bitcoin Poised For Short-Term Gains Due to waning interest in the cryptocurrency market, the price of Bitcoin fell by 5.60% to $66,650. However,…
Short-term Bitcoin holders have been going on a buying spree lately, accumulating over 1.2 million BTC since December 2023, according to Glassnode. Bitcoin has received major interest from investors since the beginning of the year, and rightly so, considering the amount of attention brought by the launch of Spot Bitcoin ETFs in the US. While…