After experiencing a significant drop, Bitcoin managed to recover as Wednesday came to a close, climbing from $61,000 to $67,000. This price jump sparked optimism in the cryptocurrency community, hinting at a potential bullish trend on the horizon. However, it is crucial to note that despite this recovery, Bitcoin has not reached its previous week’s
Bitcoin
Bitcoin, the flagship crypto token, has shown promising fundamentals that suggest it is well-positioned for growth in the current bull market. Despite this positive outlook, the recent price decline of Bitcoin has raised concerns among investors. Data from the on-chain analysis platform CryptoQuant indicates that the supply of Bitcoin on exchanges has decreased by nearly
Bitcoin’s price recently experienced a significant drop, falling from a high of over $73,600 to a low of under $60,800, resulting in a -17% loss in value. Alex Krüger, a well-respected figure in both macroeconomics and the crypto space, identified several key factors contributing to this crash. According to Krüger, excessive leverage in the market,
The Government Pension Investment Fund (GPIF) of Japan, known as the world’s largest pension fund with assets amounting to $1.5 trillion, has made a significant announcement regarding its plans to explore diversification opportunities that involve Bitcoin. This initiative is part of a broader strategy that includes traditional investments such as gold, as well as unconventional
Bitcoin, the pioneer cryptocurrency, has been experiencing a downward trend in its price ever since it hit a record high of $73,000. This has led to a flurry of speculations within the crypto community regarding the future direction of this volatile asset. The recent dip in Bitcoin’s price has not only affected the coin itself
The recent events in the cryptocurrency market have shaken investors as Bitcoin prices have taken a sharp nosedive. After a period of significant gains and record highs, Bitcoin has dropped to a weekly low of $65,000. This sudden downturn has left many investors reeling, with the current price sitting at $65,710. The 24-hour and weekly
In the world of cryptocurrency, Bitcoin’s futures market is currently showing signs that have historically indicated bullish sentiment. One metric that analysts are focusing on is the Bitcoin futures basis, which represents the difference between the futures price of Bitcoin and its spot price. Recent data has shown that this basis has surged to unprecedented
A group of analysts from the private wealth management firm, Bernstein, have recently reiterated their Bitcoin prediction, stating that the cryptocurrency has a strong potential to reach $150,000 by the year 2025. In a note to clients, analysts Gautam Chhugani and Mahika Sapra expressed their increased confidence in Bitcoin’s exponential surge to new all-time highs
The recent crash in the price of Bitcoin has been attributed to a significant decrease in net inflows into Bitcoin Exchange Traded Funds (ETFs). Spot Bitcoin ETFs, which were seeing a steady stream of inflows, suddenly experienced a sharp decline in net inflows over the last few days. This decrease in buying activity by institutions
MicroStrategy, the American business intelligence and software development company, has announced its intention to acquire an additional Bitcoin by raising $500 million in convertible debt offerings. This move comes shortly after the company sold approximately $800 million in convertible debt offerings to purchase 12,000 BTC, valued at $821.7 million at the time. It is evident
There has been a lot of speculation surrounding the potential for Bitcoin to reach $1 million in the near future. Samson Mow, the CEO of Jan3 and a prominent Bitcoiner, recently reiterated his belief in this ambitious price target. Mow pointed out several key factors that could support this bullish prediction. One of the main
The recent surge in the price of Bitcoin has led to a scenario where the vast majority of BTC holders are currently in a profitable position. However, large whales, defined as those holding at least 1,000 BTC in their wallet, have taken this opportunity to sell off some of their coins. This move has been
Bitcoin (BTC) made headlines this week as it surged past the $73,000 mark, reaching uncharted territory. This impressive rally was driven by a combination of bullish indicators and a shift in investor sentiments. Two major financial giants, BlackRock and MicroStrategy, played a significant role in this week’s narrative. BlackRock, a powerhouse in asset management, made
The recent surge in interest and adoption of spot Bitcoin Exchange-Traded Funds (ETFs) is a clear indication of the growing mainstream acceptance of cryptocurrency investments. Matt Hougan, the Chief Investment Officer of Bitwise Asset Management, discussed the significant influx of approximately $20 billion into the market following the launch of 10 new spot Bitcoin ETFs.