Bitcoin (BTC) has experienced a 4.5% decline in the past week, reaching a monthly low of $65,000. This drop in the value of the cryptocurrency has been attributed to a rise in selling activity from mining entities. According to the latest CryptoQuant weekly report, there has been a significant increase in the number of BTC
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Bitcoin recently experienced a dip to a monthly low of $65,000 on June 14, marking a 5% decrease compared to the previous week. Despite this short-term fluctuation, the bigger picture reveals that the cryptocurrency has been consolidating within a tight range since early March. Analyst James Check noted that Bitcoin has been unusually quiet, with
Ripple has recently announced its plans to launch a stablecoin called Ripple USD (RLUSD) in 2024, which will be available on both the XRP Ledger and Ethereum. This stablecoin is expected to act as a bridge between traditional finance and the crypto industry. Despite the anticipation surrounding its launch, the stablecoin has already faced criticism
In the month of May, KuCoin exchange’s research arm reported a total of $1.02 billion in new investments in the cryptocurrency space. This amount represented a slight decrease from the previous month, with April seeing a total of $1.09 billion in investments. Despite the month-over-month decline, there was still a 10.61% increase from May 2023,
Recent findings from blockchain intelligence firm TRM Labs indicate a significant surge in cryptocurrency deposits into crypto addresses associated with Chinese drug precursor manufacturers. The data revealed that from January to April 2024, cryptocurrency deposits more than doubled compared to the same period in 2023. In 2023, Chinese precursor networks received over $26 million in
Ethereum faced a loss of 4.4% this week, marking a shift in its bullish momentum. The price was pushed down to the key support level of $3,500 by sellers. While this pullback could be seen as a normal retest after the recent breakout following the ETF confirmation, the rejection at $4,000 resistance for the second
Amidst the fluctuations in the price of Bitcoin, Bernstein, a prominent brokerage firm, has maintained a positive outlook on the future trajectory of the leading cryptocurrency. In a recent report, analysts at Bernstein revised their long-term price forecast for Bitcoin, setting a new target of $200,000 by the end of 2025. This updated prediction surpasses
Bitcoin has experienced significant price fluctuations in the past few days, causing distress among investors. The cryptocurrency slumped to $65,000, marking a monthly low after a brief pump to $70,000 earlier in the week. The volatility was fueled by growing anticipation and fear surrounding the US CPI numbers and the FOMC meeting. The Altcoin Market
As around 20,000 Bitcoin options are set to expire today with a notional value of $1.35 billion, the market impact is expected to be minimal compared to previous weeks. However, a larger Bitcoin options expiry event is looming on June 28, with $6.7 billion in notional value derivatives expiring. Today’s BTC contracts have a put/call
The cryptocurrency market has been experiencing a period of sideways movement, with significant declines seen earlier in the week. Bitcoin, in particular, has been struggling to break past the $67K mark, with the price hovering around that level at a 1% loss over the past 24 hours. Despite attempts to surpass $68K, the sellers have
