Bitcoin, the leading cryptocurrency, experienced a significant retracement followed by a notable recovery as the week came to a close. After dropping from the $73,000 mark to $61,000, many within the cryptocurrency community were hopeful for a bullish move. However, despite the recent surge to $67,000, Bitcoin has not fully recovered to its previous highs.
Bitcoin
As Bitcoin continues to be a hot topic in the world of finance, certain fundamental factors suggest that the crypto token is positioned for further growth in the current bull market. Despite recent price declines, data from the on-chain analysis platform CryptoQuant indicates a significant drop in the supply of Bitcoin on exchanges over the
Bitcoin’s value has seen a significant -17% decline from its recent high, leading to various discussions and speculations among crypto experts on platforms like X (formerly Twitter). Alex Krüger, a well-known figure in macroeconomics and the crypto space, identified several factors contributing to this price collapse. He pointed out issues such as excessive market leverage,
The Government Pension Investment Fund (GPIF) of Japan, known as the world’s largest pension fund with assets totaling $1.5 trillion, has recently made quite a splash by expressing interest in exploring investment opportunities in Bitcoin. This move highlights a potential shift in the fund’s investment strategy, traditionally associated with more conservative asset classes like gold,
With the price of Bitcoin experiencing a downward trend after hitting an all-time high of $73,000, there has been a lot of speculation surrounding the future direction of this popular cryptocurrency. As the Bitcoin Halving event approaches, many crypto analysts are predicting a further decline in BTC’s price in the near future. One such analyst,
The cryptocurrency market is currently experiencing a period of uncertainty and volatility, with Bitcoin prices plummeting to a weekly low of $65,000. This sharp decline comes after a sustained period of remarkable gains and record highs, catching many investors off guard. At the time of writing, Bitcoin was trading at $65,710, with both the 24-hour
Bitcoin’s futures market is currently showing signs that have historically indicated bullish sentiment. Analysts are focusing on the Bitcoin futures basis, which represents the difference between the futures price of Bitcoin and its spot price. Recent data shows that this basis has climbed to unprecedented levels since Bitcoin’s peak of $69,000 in November 2021. According
Private wealth management firm, Bernstein, has recently reaffirmed their prediction for Bitcoin’s future value. Analysts Gautam Chhugani and Mahika Sapra have expressed their belief that Bitcoin has the potential to reach $150,000 by the year 2025. This forecast is based on the recent surge in Bitcoin prices, with the cryptocurrency hitting new all-time highs above
Bitcoin experienced a significant crash as the price fell below $66,000, dragging the rest of the crypto market down as well. The root cause of this crash can be linked back to Spot Bitcoin ETFs. These ETFs, which had been driving the bull run, started to show signs of weakening as institutions scaled back on
MicroStrategy, a prominent American business intelligence and software development company, has recently made headlines with its plans to acquire an additional $500 million worth of Bitcoin. This move comes after the company had already purchased about 12,000 BTC valued at over $800 million, bringing their total Bitcoin holdings to a staggering 205,000 BTC. The decision