The recent Bitcoin price crash that brought the value below $60,000 has raised concerns about critical support levels for the cryptocurrency. One crypto analyst, Norok, highlighted the significance of the $51,800 support level for maintaining a bullish trend in Bitcoin. This level has been identified as a crucial point for the cryptocurrency, as it represents
Bitcoin
Bitcoin’s recent price movement has seen the cryptocurrency breaking below the $60,000 support level for the first time in two months. This shift comes after a period of euphoria in the market, fueled in part by the launch of Spot Bitcoin ETFs in the US. However, a new report from Glassnode, an on-chain analytics firm,
It is essential to delve into the significance of the $59,800 price level for Bitcoin, as highlighted by crypto analyst Ali Martinez. Martinez pointed out that this price level holds critical implications for the future trajectory of the flagship cryptocurrency. According to Martinez, there are two possible scenarios that could unfold if Bitcoin were to
Lark Davis, a prominent cryptocurrency analyst, has recently pointed out key developments within the Bitcoin ecosystem that could lead to a more vigorous bull cycle than initially anticipated. One significant factor is the aftermath of the Bitcoin Halving event, which has resulted in miners being able to produce only 450 BTC per day. This scarcity
Crypto analyst DonAlt recently outlined a scenario where the Bitcoin price could potentially drop to as low as the mid-$40,000 range. He mentioned that this price breakdown might be necessary for the continuation of Bitcoin’s current bull run. DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could potentially break
The Bitcoin network has recently experienced a significant increase in trading activity following the halving event. Despite the halving garnering attention for the cryptocurrency, the surge in trading can be attributed to the introduction of the Runes token standard. Data from on-chain analytics platform IntoTheBlock reveals that the number of daily BTC transactions has spiked
The latest on-chain data reveals a troubling trend for the Bitcoin network, as high-value transactions have been steadily declining in recent weeks. This decline in activity has not gone unnoticed, as it mirrors the struggles of the premier cryptocurrency’s price to break out of consolidation during the month of April. The past week has been
Crypto expert Peter Brandt has recently suggested that the Bitcoin top for this market cycle may have already occurred. This conclusion is based on his “exponential decay” thesis, which he believes could actually benefit the Bitcoin ecosystem. Brandt points to historical data that indicates Bitcoin’s price may have peaked, citing a significant reduction in percentage
The recent buzz in the cryptocurrency world revolves around a deep learning model that projects a significant price increase for Bitcoin (BTC) in the near future. While this AI prediction has sparked excitement among investors, financial experts warn against blind faith in such forecasts. As Bitcoin continues to stagnate around the $64,000 mark, the market
The Spot Bitcoin ETFs have been facing a decline in demand since the beginning of the month, leading to significant outflows recorded on April 26. Investors have been pulling out of these ETFs, with Grayscale’s Bitcoin Trust (GBTC) experiencing the largest outflows of $139.4 million. Other funds such as Ark Invest, Valkyrie, Bitwise, and Fidelity’s
