A prominent trader has issued a warning about a popular Solana-based cryptocurrency known as dogwifhat (WIF). Technical Indicators Suggest Downward Trend According to the trader, known as Bluntz, technical analysis indicates that WIF could experience further price declines in the coming weeks. He points to a 109-day uptrend earlier this year, suggesting a similar duration…
A recent survey by Nomura’s digital asset arm, Laser Digital, reveals that over 50% of Japanese institutional investors plan to invest in cryptocurrencies within three years. Diversification and Inflation Hedge The survey, which polled over 500 investment managers, found that 60% of respondents view crypto as a diversification opportunity, while 37% consider it a hedge…
On-Chain Analyst Warns of Potential Risks Bitcoin (BTC) is approaching a “top heavy” zone, which could lead to further price corrections, according to on-chain analyst Checkmate. What is a “Top Heavy” Zone? Checkmate explains that a top heavy zone occurs when “too many people buy too many coins at too high of a price.” This…
The German government has transferred 900 Bitcoin (BTC) to crypto exchanges Kraken and Coinbase in the past 24 hours. Kraken and Coinbase Transactions The government’s Bitcoin wallet sent 200 BTC to Kraken and another 200 to Coinbase. The remaining 500 BTC were sent to an unknown address. Previous Transfers Earlier this month, the government moved…
Consecutive Outflows Spot Bitcoin ETFs have experienced a concerning trend, with outflows for seven consecutive days. These outflows have totaled around $1.2 billion. Previous Outflows In April-May 2024, Spot Bitcoin ETFs also faced a seven-day outflow period, even more significant than the current one. The largest single-day outflow occurred on May 1, with a loss…
Congressman Matt Gaetz is proposing a new law that would let you pay your federal income taxes with Bitcoin. Why Bitcoin for Taxes? Gaetz believes that using Bitcoin for taxes would: Make the process easier and faster Give taxpayers more options Help the U.S. stay ahead in technology Inspiration from El Salvador Gaetz’s idea comes…
Large Investors Buy the Dip Bitcoin’s biggest investors have been quietly buying up the cryptocurrency while the market has been in a frenzy. According to IntoTheBlock, these “Large Holders” (owning at least 0.1% of the total supply) have been adding to their stashes. Whales See Opportunity in Crash Yesterday’s crash, which saw Bitcoin drop below…
Overwhelming Optimism A recent poll by Bitcoin advocate Michael Saylor revealed that the majority of respondents (48.9%) believe Bitcoin will experience an annual growth rate of over 40% for the next ten years. This reflects the strong belief within the crypto community in Bitcoin’s long-term value. Varied Expectations While the majority are bullish, there are…
Majority of Institutions Plan to Invest A recent survey by Nomura Holdings and Laser Digital Holdings reveals that Japanese institutional investors are embracing cryptocurrency. Key Findings: 54% of investors plan to invest in crypto within the next three years. 62% see crypto as high-return investment opportunities. 16% consider crypto as potential substitutes for traditional currencies….
Foundation Wallet Outflows In previous Ethereum bull markets, the Ethereum Foundation has sold large amounts of ETH around market peaks. This has been reflected in negative netflows for the Foundation’s wallets. However, during the current bull market, the Foundation’s netflows have remained neutral despite the price increase. This suggests that the Foundation has not been…
