Whales Accumulate as Bitcoin Dips Bitcoin has recently experienced a slight dip, but it hasn’t stopped “whales” (large investors) from accumulating more of the cryptocurrency. Inflows into “accumulation addresses” (addresses with no outgoing transactions and balances over 10 BTC) have reached an all-time high of 25,300 BTC. These addresses are considered “Bitcoin Diamond Hands” due…
Yesterday, Bitcoin took a roller coaster ride, briefly touching $53,000 before crashing to $50,820. Amidst the chaos, one thing stood out: a huge surge in trading volume for certain Bitcoin ETFs. ETF Trading Boom Bloomberg’s Eric Balchunas noticed something unusual. The VanEck Bitcoin ETF (HODL) saw a whopping 14x increase in trading volume, with over…
Finance Expert’s Prediction Renowned author Robert Kiyosaki has predicted that Bitcoin will reach $100,000 by June 2024. While he didn’t specify the reason for this surge, Kiyosaki has consistently been a Bitcoin advocate. Previous Predictions Kiyosaki has previously predicted Bitcoin reaching $150,000, citing the approval of Spot Bitcoin ETFs as a catalyst. He has also…
Rising Open Interest Bitcoin’s open interest has been soaring as the price has climbed steadily. This surge reflects the growing interest in crypto since the SEC approved Spot Bitcoin ETFs. The open interest has now reached its highest level since November 2021, when Bitcoin hit its all-time high of $69,000. Historical Levels Data shows that…
Historical Pattern Points to Price Increase Cryptocurrency analyst Crypto Jelle believes Bitcoin’s current price action suggests a “Bullish Megaphone” pattern. This pattern historically indicates a price increase, and Jelle predicts Bitcoin could reach $60,000. Optimal Investment Zone Jelle also notes that Bitcoin is currently in a zone where it typically experiences significant gains. He advises…
New Milestone: $2.2 Billion Inflows in a Week Bitcoin spot exchange-traded funds (ETFs) have been a hit in the US, drawing in over $2.2 billion in inflows last week alone. This shatters the previous weekly record set during their first week of trading. Competition Heats Up Bitcoin ETFs have captured the attention of institutional investors,…
Over the past week, Bitcoin has been performing well, reaching above $50,000 for the first time since 2021. However, analyst Ali Martinez predicts a possible correction in the near future. Correction to $46,000? Martinez suggests that Bitcoin could experience a one-to-four candlestick correction on its daily chart. This prediction is based on the Tom Demark…
Subheading 1: A Bold Prediction Ric Edelman, founder of the Digital Assets Council of Financial Professionals, predicts a massive $20 billion inflow into spot Bitcoin ETFs by the end of 2024, up from the current $2 billion. Subheading 2: Drivers of the Surge Independent financial advisors, who manage around $50 trillion in assets, are expected…
Inflows Surge Bitcoin spot exchange-traded funds (ETFs) have seen a significant increase in inflows over the past four days, outpacing the initial weeks of their introduction. According to Apollo’s co-founder, Thomas Fahrer, the ETFs have experienced a “total acceleration” of inflows, with 43,000 BTC tokens (worth $2.3 billion) flowing in. Leading Firms Grayscale remains the…
Cup and Handle Pattern A “Cup and Handle” pattern has emerged in Bitcoin’s price chart, indicating a potential rally. The cup represents a period of decline and consolidation, while the handle is a brief retracement. Validation of the Pattern Bitcoin’s price has completed the cup portion of the pattern, recovering from its lows. The handle…
