An analyst has explained that a futures market signal could be one to wait for before the latest Bitcoin drawdown can finish. Bitcoin Funding Rates Are Still In The Positive Territory As pointed out by an analyst in a CryptoQuant Quicktake post, the BTC funding rate has been reducing recently, but it’s still at positive…
Bitcoin has dropped over 20% from its three-year high reached shortly after the U.S. Securities and Exchange Commission (SEC) approved the first spot Bitcoin exchange-traded funds (ETFs) in January. Analysts cite a combination of profit-taking after the long-awaited event and broader market uncertainty as reasons for the correction. Bitcoin Retreats Post-ETF Approval Surge The price…
The Bitcoin network and its underlying assets have evolved since its launch in 2009, and keeping up with the changes and updates can be challenging. In a post, financial strategist Lyn Alden broke down five key metrics to help BTC investors assess the network’s current state. Beyond Price: A Look At The Bitcoin Network…
The crypto space is currently facing bearish signals as the price of Bitcoin has failed to maintain crucial levels at $42,000, slipping to $39,909 at the time of writing. United States financial service provider Deutsche Bank, foresees even more declines in the upcoming months, projecting the value of Bitcoin to dip below $20,000. Deutsche Bank…
In his latest essay, Arthur Hayes, the founder of BitMEX, articulates a contrarian perspective on the recent downturn in Bitcoin’s price, refuting the mainstream narrative that attributes the decline to outflows from the Grayscale Bitcoin Trust (GBTC). Instead, Hayes points to macroeconomic maneuvers and monetary policy shifts as the real drivers behind Bitcoin’s volatility. Monetary…
The Bitcoin price has experienced a notable shift as selling pressure mounts, with BTC bears gaining the upper hand. Asset manager Grayscale, the owner and manager of the Grayscale Bitcoin Trust (GBTC), is a significant contributor to this trend. Since the trading of spot Bitcoin exchange-traded funds (ETFs) began on January 12, Grayscale has been…
Bitcoin price dived toward the $38,500 support zone. BTC is attempting a recovery wave and might struggle to climb above the $40,500 resistance. Bitcoin price extended its decline and tested the $38,500 support zone. The price is trading below $40,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming…
An Ethereum (ETH) whale has recently executed a series of transactions, carrying out a considerable movement of funds across various platforms. The blockchain analytics platform Spot On Chain initially brought to light this activity, involving roughly $46.02 million in ETH tokens. Deciphering The Whale’s $46M ETH Transfer Across Major Platforms The whale, operating through a…
In the midst of the tumultuous landscape of the price volatility of Bitcoin, a prominent figure stands out, exuding unwavering optimism amidst the chaos: Samson Mow, the self-proclaimed evangelist of the cryptocurrency. Recently transitioning from his Chief Strategy Officer role at Blockstream to assume the position of CEO at Jan3, an entity focused on facilitating…
In the past month, the Bitcoin price has experienced a significant decline after reaching a 22-month high of $49,000. Currently, the largest cryptocurrency has fallen below the crucial $40,000 mark, raising concerns about the prospects of the ongoing bull run and the overall bullish market structure. However, there are indications that the bottom of the…