Recent reports suggest that Bitcoin is under a Distributed Denial-of-Service (DDoS) attack, forcing prices lower and transaction fees higher. The attack, observers note, is orchestrated through spam inscriptions that are clogging up the network, inconveniencing users. Bitcoin Is Under Attack? The so-called spam transactions via the Bitcoin Ordinals platform have prompted many to speculate that…
Bitcoin (BTC), the world’s largest cryptocurrency, is facing a potential correction as it loses support at a critical level and trades at $27,300. Technical analysis shows that the Parabolic SAR has flipped bearish on the daily chart, indicating a possible downturn shortly. Bitcoin’s price has also dropped below the 50 exponential moving average (EMA), a…
The latest report by on-chain tracker Whalewire shows Binance is experiencing unusual Bitcoin outflows over the past 24 hours, the highest in its history. Whalewire reported that over 162,000 BTC, worth more than $4.5 billion, left the exchange in a day. The tracker believes something fishy is ongoing with Binance, as the crypto exchange has…
While the Bitcoin and crypto markets are deep in the red, one altcoin stands out today, posting a double-digit price increase: Stacks (STX). Along with the Lightning Network, the project is considered the most promising layer-2 technology for Bitcoin at the moment and is currently benefiting from the network congestion dilemma. There are currently over…
On-chain data shows the Bitcoin exchange whale ratio has spiked recently, something that could lead to further downside in the asset’s value. Bitcoin Exchange Whale Ratio Has Sharply Surged Recently As pointed out by an analyst in a CryptoQuant post, the exchange whale ratio is currently at its highest level since September 2019. The “exchange…
After suspending Bitcoin withdrawals multiple times in the past 24 hours, the world’s largest crypto exchange announced plans to create a lasting solution. The firm now plans to include the Bitcoin lightning network for BTC transactions. The only downside is that the alternative comes with a higher fee. But the exchange revealed plans to cushion…
Litecoin is shedding its gains in the market today as the bears take control of its price. At press time, its trading volume is down by over 15%, with a price decrease of 2.80% in the last 24 hours. Such a decline comes after major crypto assets like Bitcoin and Ethereum took a blow and…
Bitcoin, the largest cryptocurrency by market capitalization and trading volume, sets another record with Block 788695 as transactions on its blockchain network spiral out of control. Recently, there has been an alarming rise in user transactions on the Bitcoin blockchain, leading to network traffic and congestion. This has increased miner profitability significantly as transaction fees…
The Bitcoin price lost 4.2% over the past weekend and slid again to $28,000. The broader crypto market is also consistently in the red. The second largest cryptocurrency by market cap, Ethereum, is down 6% since Friday. Why Are Bitcoin And Crypto Down Today? As always, Bitcoin’s recent price movement should be viewed from multiple…
The United States banking system is in trouble as over 2,300 financial institutions could have more liabilities than assets, recent analysis reveals. Subsequently, analysts say this could boost Bitcoin prices in the weeks and months ahead if the government doesn’t proceed carefully. US Banks Burning Through Capital Buffers The US Treasury and Federal Reserve say…