Bitcoin, the premier cryptocurrency, has been experiencing a slowdown not only in its price action but also in on-chain activity. This has raised concerns among investors who closely monitor these metrics to gauge the health of the market. One of the concerning metrics is the transaction volume on the Bitcoin network, which has been on
Bitcoin
In recent weeks, the cryptocurrency market has experienced a downward trend after reaching an all-time high in March. This has sparked a buy-the-dip sentiment among traders, with many hoping for a quick rebound. However, according to the crypto analytics platform Santiment, the enthusiasm for buying cheap Bitcoin seems to be fading as the consolidation lingers
Two of the United States’ biggest banks, JP Morgan and Wells Fargo, have recently made headlines by dipping their toes into the world of Bitcoin ETFs. This move signifies a shift in their previous stance on cryptocurrencies, given the ongoing bearish trend in the crypto market. Despite Bitcoin’s price hovering just above $60,000, both financial
When former President Donald Trump recently expressed his strong support for Bitcoin and cryptocurrencies, it marked a significant departure from his previous skepticism towards the digital assets. This sudden pivot in his stance has caught the attention of crypto enthusiasts and investors alike, sparking discussions about the potential implications of such a shift as the
Recent data from IntoTheBlock, an on-chain analytics firm, has revealed a concerning trend in the accumulation behavior of Bitcoin whales. These large investors, holding over 1,000 BTC, have been major players in supporting the price of Bitcoin and preventing drastic declines. However, the data shows a decline in whale accumulation volumes in each buying cycle
The recent lackluster performance of Bitcoin has caused concern among institutional investors, as evidenced by recent data showing a bearish sentiment among this group. CoinShares recently reported that Bitcoin investment funds experienced a significant outflow of $284 million last week. The majority of these outflows originated from US Spot Bitcoin ETFs, with $156 million leaving
Bitcoin (BTC) has recently experienced a price slowdown, despite having recovered above $60,000. One of the factors believed to contribute to this tepid price movement is the reduced demand for Spot Bitcoin ETFs. These ETFs had initially recorded billions of dollars in net inflows in the first three months of their launch, leading to a
Cryptocurrency analyst and trader Rekt Capital recently made a fascinating discovery regarding Bitcoin’s price trend. He pointed out that the current price action of Bitcoin closely resembles that of a bull cycle that occurred eight years ago. This revelation has sparked interest among investors and analysts, as it suggests that Bitcoin may be on the
Bitcoin has recently demonstrated its resilience by bouncing back above the $60,000 price zone following a dip below $57,000. Market expert Peter Brandt predicts that Bitcoin could reach a six-figure digit value by 2025, emphasizing the asset’s uniqueness compared to other commodities and cryptocurrencies. The Trade of a Lifetime Brandt describes Bitcoin as a “once-in-a-lifetime
The crypto research platform 10x Research recently highlighted the increase in Bitcoin’s Relative Strength to 40%. They delved into the potential moves that the flagship cryptocurrency might undertake in the near future. In their newsletter titled “Fake Dip?”, 10x Research pointed out that historically, Bitcoin has exhibited possible rallies when its Relative Strength Index (RSI)