After a turbulent 2022, Bitcoin (BTC) is poised for a remarkable resurgence in 2024, according to a consensus of industry experts. This comprehensive analysis delves into the key factors driving this positive sentiment, including the highly anticipated Bitcoin halving event, surging institutional adoption, and the introduction of spot Bitcoin exchange-traded funds (ETFs). The Halving Event:…
On February 12, Bitcoin’s price soared past the $50,000 mark, reaching a peak of $49,990 on several exchanges. This remarkable rally was fueled by three main factors: spot Bitcoin ETF inflows, bullish signals from the options market, and supportive trends in the futures market. Spot Bitcoin ETF Inflows The surge in spot Bitcoin ETF inflows…
Bitcoin Supply in Profit Surges On-chain data shows that the Bitcoin Supply in Profit has neared the 95% mark during the recent rally. This indicator tracks the total percentage of the Bitcoin supply carrying some unrealized gain. Historical Significance of Percent Supply in Profit Analyst James Van Straten observes that historically, when the Bitcoin Percent…
£1 Billion Lawsuit to Recover £275 Million Worth of Bitcoin A British engineer, James Howells, is taking the Newport City Council to court for £1 billion, hoping to recover his lost Bitcoin hard drive containing 7,500 BTC. Howells believes the hard drive was accidentally thrown away during an office clearout in 2014. Council’s Refusal to…
US President Joe Biden recently sparked a buzz in the crypto community when he posted a picture of himself with laser eyes, a symbol often associated with bullish sentiment towards Bitcoin. This unexpected post led to speculation about a potential shift in Biden’s stance on digital assets. Biden’s Laser Eyes Meme On February 12, 2024,…
The recent surge in popularity of ERC-404 tokens has led to a significant increase in Ethereum gas fees, reaching levels not seen since March 2023. Ethereum Gas Fees Skyrocket On February 9, 2024, Ethereum gas fees reached an average of 71.4 Gwei, with a maximum of 59,956 Gwei and a minimum of 34.4 Gwei. This…
Significant Deposit and Market Impact In a recent development, Ethereum co-founder Jeffrey Wilcke’s wallet made a notable deposit of 4,300 ETH to a cryptocurrency exchange, totaling 22,000 ETH, valued at approximately $41.1 million. This deposit has injected renewed interest and excitement into the market, despite the overall trend of Ethereum’s netflow remaining unaffected. Netflow Analysis…
A crypto strategist who accurately predicted Bitcoin’s 2018 market bottom believes Solana (SOL) and its competitor, Sei (SEI), are poised for significant rallies. Solana (SOL) The pseudonymous analyst, known as Bluntz, shared his insights with his 239,500 followers on the social media platform X. He believes Solana is in the midst of a wave-three rally,…
Binance Research has published a report suggesting that ordinals could bring about a major transformation in the Bitcoin ecosystem. What are Ordinals? Ordinals allow users to inscribe digital data, such as images and videos, onto a single satoshi, or individual unit of BTC. This creates the equivalent of non-fungible tokens (NFTs) on the Bitcoin network….
Trafficked Man’s Ordeal A Malaysian man who responded to a job ad on Facebook was trafficked to Cambodia and forced to engage in crypto scams. The man, known as John, lost his job during the Covid-19 pandemic and was offered a customer service job at a Cambodian casino. Held Captive and Forced to Scam Upon…
