Bitcoin has been on a downward trend after hitting its all-time high earlier this year. The buy-the-dip sentiment among crypto traders has been prevalent, with many hoping for a quick turnaround and a surge back to new all-time highs. However, according to Santiment, a crypto analytics platform, the excitement around buying cheap Bitcoin seems to
Bitcoin
Bitcoin, the premier cryptocurrency, has been experiencing a slowdown in on-chain activity since reaching an all-time high in mid-March. Data analytics firm Santiment recently reported that various metrics on the Bitcoin network have been on the decline, including transaction volume, daily active addresses, and whale transaction count. This drop in on-chain activity has raised concerns
In a surprising move, two major US banks, JP Morgan and Wells Fargo, have recently disclosed their investments in Spot Bitcoin ETFs, signaling a significant shift in their approach to cryptocurrencies. This announcement comes at a time when the crypto market is experiencing a prolonged downturn, with Bitcoin’s price hovering just above $60,000. Wells Fargo,
Bitcoin saw a decrease in price by 3.06% on Friday, dropping to $60,372.36 as reported by CoinMarketCap. Despite this decline, trading analyst Titan of Crypto remains optimistic about Bitcoin’s potential for a post-halving price rally. The analyst highlighted a bullish signal in the daily timeframe, specifically pointing out the bullish engulfing candle pattern which suggests
Former President Donald Trump recently made headlines by expressing strong support for Bitcoin and other cryptocurrencies, a stark departure from his previous skepticism towards digital assets. This shift in stance has generated significant interest and speculation within the crypto community, especially as the US election draws closer. Analyst MacroScope highlighted the importance of Trump’s comments,
Bitcoin price movements have long been influenced by the activities of major whales in the market. These large investors, holding substantial amounts of Bitcoin, have historically been instrumental in maintaining bullish sentiment and preventing significant price declines. However, recent on-chain data from IntoTheBlock suggests a shift in the accumulation patterns of these whales. While whales
The recent unimpressive price action of Bitcoin has not gone unnoticed by institutional investors, who are now displaying bearish sentiment towards the flagship cryptocurrency. Recent data indicates that there has been a wave of massive outflows from Bitcoin investment products, which could potentially have a negative impact on Bitcoin’s price. CoinShares, in a blog post,
Bitcoin (BTC) has recently seen a slowdown in its price movement, despite recovering above $60,000. This tepid price movement can be attributed to various factors, with one of the main reasons being the reduced demand for the Spot Bitcoin ETFs. These ETFs experienced billions of dollars in net inflows during the first three months of
Renowned cryptocurrency analyst and trader Rekt Capital has uncovered a fascinating discovery in his recent analysis of Bitcoin’s price trend. His groundbreaking observation indicates that Bitcoin is exhibiting a pattern reminiscent of historical price movements that occurred during a bull cycle eight years ago. Rekt Capital emphasizes the remarkable similarity between Bitcoin’s current behavior and
In a recent analysis of Bitcoin’s market performance, veteran analyst Peter Brandt has expressed his confidence in the cryptocurrency’s potential to reach a six-figure digit value by 2025. Brandt, who is celebrating his 50th anniversary in future markets trading, describes Bitcoin as a once-in-a-lifetime trade that is unparalleled in comparison to traditional assets like gold,
