Amidst the recent crypto market downturn, Bitcoin miners are reportedly exploring alternative cryptocurrencies to hedge against the falling prices. Hashprice Hits Record Low According to Ki Young Ju, CEO of CryptoQuant, Bitcoin’s hashprice has reached an all-time low. This metric measures the expected earnings from a given amount of hashing power. The low hashprice is…
According to analyst TechDev, the crypto market is poised for a significant altcoin rally. Altcoins Mimicking 2017 Setup TechDev analyzed the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the top 10 and stablecoins. He observed that OTHERS is mirroring its setup in 2017, before the altcoin market surged. Bitcoin Dominance Declining…
Former Goldman Sachs Exec Predicts ‘Banana Zone’ Raoul Pal, a former Goldman Sachs executive and CEO of Real Vision, predicts that Solana (SOL) will lead the next cryptocurrency market expansion. Pal believes the crypto market is entering the “banana zone,” a period of sustained growth. He highlights Solana as the platform to watch, stating, “When…
An analyst predicts that a further decline in Bitcoin’s price could ignite a surge to new highs. Sell-Side Pressure Declines According to the analyst, known as Checkmate, data shows a significant decrease in selling pressure since April. However, Bitcoin faces challenges in maintaining its upward trend due to a lack of new demand. Catalyst for…
Exchange Reserve Surge Data from CryptoQuant shows that over 14,000 BTC (worth $851.2 million) has been deposited into exchanges in the past four days. This surge in exchange reserves suggests that investors are preparing to sell their Bitcoin. Selling Pressure Typically, an increase in exchange reserves indicates increased selling pressure. Investors often use exchanges to…
Despite recent price dips, Bitcoin has seen a surge in interest from retail investors. Retail Investors Return According to crypto analyst Ali Martinez, the number of new Bitcoin addresses reached a high of 352,124 on Friday. This is the highest level since April and breaks a downtrend that has been in place since November 2023….
Whale Movement Triggers Price Drop PEPE’s price took a hit over the weekend, dropping by 7.5% to $0.00001088. This decline is partly due to the broader market downturn, but whale movement has also played a role. A large crypto whale recently sold off a massive amount of PEPE tokens for Ethereum (ETH). This move contributed…
Bitcoin miners are facing financial challenges and are selling their BTC to cover costs. This capitulation is similar to what happened in December 2022, after the FTX collapse. Impact on Bitcoin Price Selling Pressure: Miners selling their BTC can increase selling pressure, potentially driving down the price. Market Recoveries: Periods of miner capitulation have historically…
SEC Response Delays S-1 Form Approval Bloomberg analyst Eric Balchunas has revised his projected launch date for Ethereum Spot ETFs in the US. The delay stems from the US Securities and Exchange Commission (SEC) taking longer than expected to respond to the second round of S-1 form submissions. The SEC had previously approved the 19b-4…
Major US banks are quietly selling their exposure to the troubled commercial real estate market, according to a recent report by the New York Times. Dumping Loans to Cut Losses Banks such as Goldman Sachs, Citigroup, and Capital One have recently sold portions of large commercial real estate loans, signaling a shift in strategy. These…
