Bitcoin has been on a rollercoaster ride lately, despite the surge in buying from spot exchange-traded funds (ETFs) and institutional investors. Here’s what’s behind the recent bearish momentum: Long-Term Holders Selling One reason for the selling pressure is the long-term holders (LTHs) who have been holding onto their coins for a long time. When the…
The US Supreme Court will review a case involving Nvidia’s crypto mining revenue, potentially shaping shareholder lawsuits. Nvidia’s Alleged Misleading Statements Shareholders claim that Nvidia’s CEO, Jensen Huang, concealed the significant role of crypto mining in the company’s revenue growth in 2017-2018. They argue that Nvidia downplayed the dependence on mining sales, exposing the company…
Current Price Action Ethereum has been trading sideways, but is up 5% from last week’s lows. It needs to break above $3,700 for further gains. Spot ETF Approval The SEC is expected to approve the first spot Ethereum ETF soon. This has created optimism among investors. Impact on Prices Some analysts believe that the spot…
Memecoin Sell-Offs As the cryptocurrency market experiences a downturn, blockchain tracking firm Lookonchain has observed significant sell-offs by memecoin traders. One trader with a substantial position in Pepe (PEPE) liquidated their holdings for 366.5 ETH ($1.27 million) after holding for only a month. Despite initially seeing a profit of $670,000, the trader held on until…
Data Center Demand Surge The global race for AI dominance has led to a surge in demand for data centers, pushing industry giants to capacity. Bitcoin miners, with their powerful computing and data storage capabilities, could become beneficiaries of this demand. AI Assistants and Crypto Virtual assistants like Siri have limited complex task completion capabilities….
Crypto analyst Ali Martinez reports that Ethereum (ETH) whales have been aggressively accumulating ETH, purchasing over 700,000 tokens worth approximately $2.45 billion in the past three weeks. Bullish Signal on Daily Chart Martinez highlights a bullish signal on Ethereum’s daily chart, indicating a potential bounce. The Tom DeMark (TD) Sequential indicator suggests a rebound of…
Crypto expert DonAlt predicts that Bitcoin (BTC) may need a boost from the stock market to reach new record highs. Stock Market Correlation Despite positive developments in the crypto world, Bitcoin has lagged behind the stock market. DonAlt believes that BTC’s momentum could hinge on the performance of the S&P 500 index. “If the S&P…
Bitcoin has been through a rollercoaster ride lately. Its price has been dropping, making people worry that it might stay low for a while. But some experts think there are signs that things could change for the better. Buying Pressure on the Rise One thing to look at is the Bitcoin Taker Buy Sell Ratio….
To prevent tax dodging in the crypto industry, Malaysia’s tax authority (IRB) has launched “Ops Token.” This operation, with help from the police and cybersecurity experts, targeted businesses in the Klang Valley suspected of hiding their crypto transactions. Details of the Operation Ten locations were raided to prevent “tax revenue leakages” from crypto exchanges. The…
As Bitcoin enters a critical week, analysts are keeping a close eye on several factors that could determine its short-term trajectory. Economic Indicators Last week’s economic data, such as the CPI and PPI, showed signs of disinflation, which is positive for risk assets like Bitcoin. However, the Federal Reserve has cautioned against being too optimistic…
