Author: Maria
The Bitcoin price difficulties earlier this week appear to have been largely driven by a significant selloff by miners, commonly referred to as miner capitulation. On-chain data shows that the total amount of BTC held by miners has crashed massively in the last three days. In particular, these miners recently sold $1.71 billion worth of BTC in a short period of time. As you might imagine, this trend is concerning for Bitcoin, especially as the cryptocurrency is currently struggling to regain momentum and climb back above the critical $60,000 price level. Miners Offloading Massive Amounts Of Bitcoin According to on-chain…
Bitcoin is now in a consolidation phase after weeks of significant selling pressure and fear throughout the market. The price has dropped over 19% from local highs in late August and is currently testing resistance around $58,000. Despite this recent downturn, the broader outlook remains optimistic. Top analysts and investors are projecting a price surge, with predictions of Bitcoin reaching $100,000 by the end of the year. One prominent analyst recently shared a chart with a technical prediction that points to a potential breakout in the coming weeks. This consolidation period could be setting the stage for the next major…
Bitcoin is now in a consolidation phase after weeks of significant selling pressure and fear throughout the market. The price has dropped over 19% from local highs in late August and is currently testing resistance around $58,000. Despite this recent downturn, the broader outlook remains optimistic. Top analysts and investors are projecting a price surge, with predictions of Bitcoin reaching $100,000 by the end of the year. One prominent analyst recently shared a chart with a technical prediction that points to a potential breakout in the coming weeks. This consolidation period could be setting the stage for the next major…
The highly anticipated launch of Apple’s iPhone 16 is finally here, hopefully bringing more advanced features and upgrades than the previous iPhone variants. Whilst the tech community is excited about this debut, questions arise about how much this new iPhone as well as other previous versions would cost if it were bought with Bitcoin (BTC). The Cost Of iPhones In Bitcoin Over the years, Apple has introduced more than a dozen new iPhone versions, each commanding a premium price and featuring new upgrades. With Bitcoin’s steady and robust rise since its inception in 2009, the prices of each iPhone in…
With the Bitcoin price struggling to stay afloat in Q3 2024, activity has declined as well, reaching lows not seen in years. With the most recent crash last week, the activity on the Bitcoin network took another negative hit, causing its to plummet to levels not seen in three years. Naturally, this has implications for the BTC price and the PrimeXBT Market Research report has shown what could happen to the BTC price following this development. Bitcoin Activity Plummets To 2021 Levels Following the Bitcoin price plummeting below $60,000, the total active addresses on the network fell below 1 million.…
On-chain data shows the Ethereum Whales have continued to accumulate more cryptocurrency as their supply share has risen. Ethereum Whales Now Hold Around 43% Of The Entire Supply In a new post on X, the market intelligence platform IntoTheBlock shared an update on how the Ethereum supply concentration has been looking for the major holder groups on the network. The groups in question here refer to the divisions of the asset’s userbase based on holding size. IntoTheBlock has defined three main cohorts: Retail, Investors, and Whales. The first of these, the Retail, includes the smallest hands in the sector: those…
Since reaching its all-time high in March 2024, the value of Bitcoin (BTC) has faltered, failing to sustain a steady upward momentum and dampening investors’ expectations for a major bull rally following its halving event. However, a crypto analyst is offering a glimmer of hope, encouraging investors to remain patient despite the market downtrend, as the next few months could present a bullish turnaround for Bitcoin. A Ray Of Hope For Crypto Investors As said by many crypto analysts, the month of September is historically a difficult period for Bitcoin, characterized by severe downward momentum, volatility and instability. Rekt Capital,…
Ethereum has surged 10% since last Friday, marking a notable bounce as the crypto market reacts to local demand levels. Despite this uptick, ETH has been lagging behind Bitcoin and other altcoins in recent months. Key data from Santiment, however, highlights an uptick in network activity, hinting at a potential shift in Ethereum’s performance. Although ETH continues to face challenges in reclaiming the crucial $2,500 zone, this period of volatility could present a strategic opportunity. Investors might want to consider this moment as a chance to position themselves for anticipated future gains. With the current momentum and increasing network engagement,…
Despite seeing multiple crashes over the last few months, the expectations for the Bitcoin price remain incredibly high. Predictions have ranged from hundreds of thousands of dollars to millions, but they all maintain one thing in common, and that is the fact that the Bitcoin bull market is far from over. To this end, pseudonymous crypto analyst Cryptorphic has unveiled another bullish prediction, putting the BTC price close to the coveted $100,000 mark. Key Bullish Levels To Watch For Bitcoin Cryptorphic’s analysis on Bitcoin points the spotlight on major support levels that investors must watch out for to know where…
Although the recent launch of Bitcoin ETFs or exchange-traded funds in the United States appears to have been met with excitement, according to Jim Bianco, CEO of Bianco Research, these financial products have not yet lived up to their anticipated role as a major catalyst for cryptocurrency adoption. In a post shared on Elon Musk’s social media platform, X, Bianco suggested that Bitcoin ETFs would need more time to mature before they could serve as a major “instrument of adoption” rather than just a “small tourist tool.” Bitcoin ETF Outflows And Lack of Institutional Involvement Bianco’s comments highlighted growing skepticism…