Bitcoin (BTC) took a bit of a dive recently, dropping below a key support level. Will it bounce back? One analyst says this week is crucial. Bitcoin’s Bull Flag Falters Bitcoin had been chilling in a range between $114,000 and $120,000 for a few weeks after hitting a new all-time high of $122,838. Then, it…
Last Friday saw a huge exodus of cash from Bitcoin exchange-traded funds (ETFs) – over $800 million! This is the second-largest single-day withdrawal ever recorded for these funds. A Billion-Dollar Sell-Off This massive sell-off wiped out a week’s worth of inflows, bringing the total net inflows down to $54 billion. Currently, all spot Bitcoin ETFs…
Bitcoin took a tumble recently, dropping below $115,000. But is this the end of the road, or just a temporary setback? Let’s dive in. Holding the Line: Key Support Levels The current price action hinges on support levels – basically, how much buying power is countering the selling pressure. If buyers can hold the line,…
Bitcoin’s price is steadily rising, but this time it’s different. Unlike previous explosive rallies, the current increase is slow and controlled. A Controlled Ascent Data analysis shows Bitcoin’s price follows a predictable, gradual growth pattern. It’s currently above the expected growth line but far from overheating, unlike previous bubble periods. This suggests organic growth or…
Bitcoin took a dive under $113,000 recently, sparking worries about a price peak. But one analyst thinks there’s still room for growth. A Bullish Case for Bitcoin CryptoQuant analyst Amr Taha sees positive signs despite the recent price drop. He points to two key factors: Binance Volume Surge Binance, the biggest crypto exchange, saw a…
Could Bitcoin’s price skyrocket to $189,000? Some analysts think so. A Simple Calculation, Big Implications A recent report suggests Bitcoin could see a massive price increase – over 65% from its current price – if it captures even a small portion of existing global financial markets. The math is surprisingly straightforward. Global liquidity (M2) is…
Bitcoin’s price action is raising some eyebrows, suggesting a significant sell-off might be on the horizon. Bitcoin’s Potential Downward Spiral Crypto analyst Joao Wedson recently analyzed Bitcoin’s price using the Wyckoff Distribution model. This model essentially maps how large investors (“smart money”) strategically sell off assets at market peaks. Wedson believes Bitcoin is currently undergoing…
Bitcoin mining just got a whole lot harder, and the price took a hit. This week saw mining difficulty reach a record high of 127.6 trillion, according to CoinWarz. At the same time, Bitcoin’s price dropped 3%, briefly hitting a low of $113,005 before recovering slightly to around $113,250. Record High Mining Difficulty The difficulty…
Bitcoin’s price took a dive recently, dropping below $115,000 for the first time since early July. This got people wondering if the party’s over. But some analysts think the bull run might have more legs. Long-Term Holders Are Selling Crypto analyst Joao Wedson recently reported that long-term Bitcoin holders (LTHs) are starting to sell off…
Bitcoin recently hit a new all-time high above $120,000, sparking a lot of chatter about where it’s at in this bull market. While the price is exciting, looking at on-chain data gives a clearer picture. One indicator, the Satoshimeter, suggests we’re still in the middle of the cycle, with plenty of potential upside. Mid-Cycle Momentum…
