Network Activity Surge Bitcoin’s network activity has seen a significant uptick, with over 750,000 addresses active in the past 24 hours. This suggests that more users are returning to the Bitcoin ecosystem, which could boost its price. Declining Exchange Supply Investors are holding onto their Bitcoin rather than selling it, as evidenced by the decline…
Solana (SOL) is at a crossroads. Once a star in the 2023 crypto rally, it’s now stuck between $155 and $170. Investors are unsure whether it will break out or slide further. Technical Tug-of-War Technical indicators give mixed signals. The “death cross” suggests a potential decline, but the RSI indicates some buying pressure. Social Media…
Bitcoin (BTC) is expected to make a significant move soon, according to analysts. After 87 days of consolidation, the world’s largest cryptocurrency is showing signs of breaking out. Technical Patterns Crypto analyst Faibik has identified a Descending Broadening Wedge pattern on Bitcoin’s daily chart, which suggests a price squeeze that often precedes a breakout. A…
Pattern Recognition Crypto analyst Moataz Elsayed has noticed a repeating pattern in Shiba Inu’s (SHIB) price history. After a surge following its listing on Binance in 2021, SHIB experienced a correction and then a breakout. Historical Data In May 2021, SHIB rose to $0.00005 after being listed on Binance. After a correction, it broke out…
Why Is Bitcoin Stuck Below $100k? Despite recent developments like Bitcoin ETFs, the highly anticipated surge to $100,000 remains elusive. Here’s why: Long-Term Holders Selling: Investors who have held Bitcoin for over two years are selling, reducing the supply and putting downward pressure on the price. Impact of Halving Not Yet Felt: The recent halving…
After hitting $71,000, Bitcoin has been stuck in limbo. But what’s next? Crypto analyst Alan Santana has some insights. Bitcoin’s Bullish Run Coming to an End? Santana believes Bitcoin’s bullish trend, which started in November 2022, is nearing its end. Bullish waves typically last around a year, and Bitcoin’s has been going for 16 months….
Global Liquidity: The Key Indicator According to Philip Swift, founder of LookIntoBitcoin, global liquidity has reached an all-time high of $94 trillion, approaching $100 trillion. Swift believes this is a crucial indicator for Bitcoin’s potential growth in this bull run. Bitcoin’s Inevitable Rise Swift suggests that Bitcoin’s rise is inevitable as long as global liquidity…
Positive Premium Index The Coinbase Premium Index (CPI), which measures the price difference between Bitcoin on Coinbase and other exchanges, has turned positive for the first time since May 18th. This indicates increased demand for Bitcoin on Coinbase, a major US-based exchange. Significance A positive premium shows that US-based investors are buying Bitcoin, suggesting that…
Long-Term Holders Profiting Bitcoin holders who have held their coins for a long time are now making money again. Only a tiny fraction (0.03%) of these holders bought Bitcoin above its current price and are still losing money. Short-Term Holders Struggling Short-term holders, who bought Bitcoin more recently, are still underwater. Many of them bought…
The recent halving of Bitcoin rewards has sent shockwaves through the crypto mining industry. With daily revenue plummeting by over 70%, miners are scrambling for new ways to stay afloat. AI: A New Frontier Enter Artificial Intelligence (AI). Buoyed by the success of ChatGPT, AI computing is experiencing a surge in demand. This, coupled with…
