Author: Maria
In the last two years, Bitcoin (BTC) has produced a strong positive price performance gaining by over 300% since the start of 2023. In 2024 alone, the crypto market leader has surged by 40% notably reaching a new all-time high of $73,750 in March. However, recent price developments indicate that Bitcoin’s upward price trajectory may experience significant changes in the coming months. 200-Day SMA Signals Bitcoin’s Price At Crossroads In an X post on Saturday, popular crypto analyst Ali Martinez shared that the price of BTC has recently dipped below its 200-day simple moving average (SMA), indicating the asset is…
The Bitcoin price began Friday, August 16 from beneath the $57,000 level, following a sudden 7% fall on Thursday. While the premier cryptocurrency is showing good signs of recovery, a prominent crypto analyst has explained how the latest price decline may have pushed the BTC price into a bearish phase. Bitcoin MVRV Drops Below 1-Year SMA – Impact On Price? In a post on the X platform, popular crypto analyst Ali Martinez shared that the Bitcoin price has experienced a shift in its cycle following the latest price dip. This on-chain revelation is based on the Glassnode MVRV (Market Value…
The United States (US) government has recently moved a whopping 10,000 Bitcoin (BTC) seized from Silk Road, a notorious online black market platform. Over the years, the government has executed multiple large-scale Bitcoin transfers, strategically relocating these assets to new wallets or different exchanges. US Government Moves 10,000 BTC To Coinbase Prime In an X (formerly Twitter) post on August 14, Arkham Intelligence, a blockchain analytics platform uncovered a new Bitcoin transfer conducted by the US government. According to Arkham’s reports, the government had transferred 10,000 BTC, valued at $593.5 million, from its cache of assets seized during the take…
According to reports, the Trump Organization—the holding company of former US President Donald Trump’s business ventures—would be moving on to present a new cryptocurrency initiative. In an interview, Eric Trump, the son of the ex-president and executive vice president of the organization, revealed that the new venture would deal with “digital real estate” and one would be capable of lending or borrowing money over the platform. The announcement comes at a time when the Trump family has been vocal about their enthusiasm for cryptocurrency on social media. Eric Trump took to X, formerly Twitter, recently to express his excitement toward…
A serious power crisis is what Iran is currently going through, and an unprecedented heatwave only serves to further deteriorate the situation. In a bizarre bid to crack down on this issue, the government of Iran has just announced a $20 bounty for citizens to act as informants on illegal cryptocurrency mining operations within the country. One state-run electricity company has already started this campaign: Tavanir. It fights the unauthorized consumption of subsidized electricity, which officials say contributes to ongoing power shortages hounding the country. Heatwave And Power Shortages The current heatwave has pushed temperatures in Iran to a scorching…
A big change is brewing up in the world of Bitcoin. Over time, US-based ETFs will become the largest holders of Bitcoin, surpassing even Satoshi Nakamoto, the mysterious founder of the cryptocurrency. This development certainly also captures how institutional interest in the cryptocurrency space is growing. Bloomberg senior ETF analyst Eric Balchunas surprised the crypto community with a farfetched prediction in relation to Bitcoin ownership. Balchunas claims that if trends continue, by the end of this year, the world’s most elusive man, Satoshi Nakamoto, will not be holding the largest share of the cryptocurrency. This prediction assumes a dramatic change…
In a recent report, crypto research firm Kaiko drew the crypto community’s attention to the Bitcoin liquidity crisis. The firm added that this issue has been amplified since the launch of the US Spot Bitcoin ETFs. BTC’s Liquidity Fragmentation Kaiko analysts noted in the report that liquidity fragmentation continues to persist for the flagship crypto, leading to price discrepancies across exchanges. Simply put, liquidity fragmentation refers to when liquidity is unevenly distributed across these exchanges, leading to unstable prices, especially among less liquid exchanges. Although this liquidity fragmentation has reduced for Bitcoin over time, the research firm noted that it…
The defunct crypto exchange Mt. Gox isn’t done with its Bitcoin repayments to creditors, as on-chain data shows that the exchange recently moved a significant amount of BTC. This has raised the question of how much Bitcoin Mt. Gox has left, considering the negative impact these BTC repayments have had on the flagship crypto’s price action so far. Mt. Gox’s $2 Billion BTC On The Move The on-chain analytics platform Arkham Intelligence revealed in an X (formerly Twitter) post that a wallet (bc1q26) that had received $2.19 billion worth of Bitcoin from Mt. Gox had recently initiated test transactions. This…
The Bitcoin miner reserves can serve as a good indicator of whether a sell-off is coming for the cryptocurrency. Usually, the higher their reserves, the higher the chances that these miners will begin selling in a bid to secure profits. However, once the reserves plummet, it not only signals an end to the sell-offs but also means fewer coins left for the miners to sell if they continue to keep selling. This time around, the Bitcoin miner reserves have fallen to January 2021 levels, which could have some positive implications for the market. Bitcoin Miner Reserves Fall To 5-Year Lows In an…
Ethereum and Solana registered net inflows last week despite a price correction among most cryptocurrencies. According to the most recent Digital Asset Fund Flows Weekly Report published by CoinShares, the cumulative inflows into these investment products reached an impressive $176 million over the week. This positive trend was consistent across all regions, with each registering positive inflows, signifying widespread interest from investors globally. Surprisingly and deviating from the Bitcoin dominance trend, Ethereum-based investment products attracted the most inflows during the week. Institutional Investors Focus On Ethereum And Solana Despite the fluctuations in market value, investor interest in digital assets remained…