Funds are flowing back into GBTC, data suggests, as CEO Sonnenshein reiterates plans to turn Grayscale crypto funds into ETFs. The Grayscale Bitcoin Trust (GBTC) is echoing bullish sentiment in Bitcoin (BTC) as its premium over spot price rises to its highest since May.Data from analytics resource Bybt shows that on Tuesday, the so-called Grayscale… More
Itâs doom and gloom for Bitcoin a day after the feared Grayscale unlocking event, with altcoins performing even worse. Bitcoin (BTC) fell below $31,000 support on Monday after sideways trading gave way to downside pressure. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewFresh pain for BTC priceData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows… More
Performance remains grimly sideways on the day of the largest GBTC unlocking event. Bitcoin (BTC) was on track to lose nearly $3,000 this week as a weekend of mixed price behavior came to an end.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader hopes for last-minute BTC price volatility Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading… More
Bitcoin bull markets frequently see corrections from all-time highs, but only 2013 has beaten this year in terms of waiting times for a rebound. It’s now three months since the last Bitcoin (BTC) all-time high, but one measure suggests that holders may be waiting even longer for the next.In a series of tweets on July… More
A failure to retain $31,000 would mean that $29,000 and then $24,000 are on the menu, says MichaĂ«l van de Poppe. Bitcoin (BTC) dropped to its “final support zone” above $31,000 on July 15 as a low grind downward brought fresh predictions of a BTC price crash.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBinance debacle spreads… More
What seems to be a full reversal on a previously hostile Bitcoin stance is tempered by Mnuchin, who added that he still wouldnât buy BTC himself. Bitcoin (BTC) may be a âscamâ for former United States President Donald Trump, but the former Treasury Secretary appears to have made a U-turn on the worldâs first and… More
How realistic is it that a majority of Bitcoin investors are aiming for a $100,000 BTC price by the end of 2021? Bitcoin (BTC) investors are known for being bullish, and even during 50% corrections like the current one, most analysts remain optimistic. One reason for investors’ endless optimism and belief in infinite upside could… More
Bitcoin has never been so far below where stock-to-flow predictions call for it to be. Bitcoin (BTC) has never been as far below its target price as it is now, the stock-to-flow model shows this week.In a tweet on July 10, Lex Moskovski, chief investment officer at Moskovski Capital, showed stock-to-flow flagging a historic moment… More
The Puell Multiple bounces from its latest rare trip into the “buy” zone, and previously, BTC/USD has subsequently put in a macro bottom. A classic Bitcoin (BTC) on-chain indicator has seen a âhell of a bounceâ even as price action stays uncertain.In a tweet on July 9, Philip Swift, creator of analytics resource Look Into… More
Bitcoin rapidly recovers above $33,000 support as Jack Dorsey says Square will create a Bitcoin hardware wallet and custody service. Bitcoin (BTC) came back to life later on July 9 after a whale-induced price dip failed to hold the market down for much more than 24 hours.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin price action… More
Bulls may not have long to wait before BTC price action sees its next leg up, traders suggest, with $35,500 in focus for a breakout. Bitcoin (BTC) took a stab at key resistance around $36,000 on Wednesday as anticipation built around a breakout.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC breakout means first stop: $39,000Data from… More
Itâs a tale of two Bitcoins as active miners reap the benefits, while others remain completely offline. Bitcoin (BTC) miner revenue jumped after the network saw its biggest-ever difficulty drop, data shows. According to figures from monitoring resource Blockchain.com, daily revenues have surged by over 50%.âInteresting dynamicâ hits Bitcoin miningBitcoin mining is currently in a unique… More
Bitcoin prices remain under pressure in the $30,000-$40,000 zone as traders brace for the 16,000 BTC worth of GBTC shares unlocking in July. Whether a potential sell-off of shares tied to a multi-billion dollar Bitcoin (BTC) investment fund could crash the cryptocurrency’s spot prices has turned into a hotly debated topic among the analysts in… More
The ratio of Bitcoin price to hash rate presents bulls with a long wait, as hash rate is still migrating. Bitcoin (BTC) has recorded its biggest mining difficulty drop of nearly 28% on July 3, but one model suggests that the BTC price will not bottom until October.In a series of tweets on July 2,… More
Analysts warns that the Wyckoff Spring phase may still be in the future as mounting pressures could lead to another low in Bitcoin. The Wyckoff Accumulation technical chart pattern has become the latest trending topic when anticipating where the price of Bitcoin (BTC) may go next. Some analysts have said that BTCâs recent dip below… More
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