Trump’s Shift in Stance Former President Donald Trump has made a surprising U-turn on his previous skepticism towards Bitcoin and cryptocurrencies. In a recent video, he expressed strong support for these digital assets. Potential Impact on Bitcoin Price Analysts believe that Trump’s endorsement could significantly boost Bitcoin’s price. MacroScope, a financial analyst, emphasized the importance…
Network Fundamentals and Hashrate Ki Young Ju, CEO of CryptoQuant, predicts that Bitcoin’s price could skyrocket to $265,000. He believes that the cryptocurrency’s network fundamentals, particularly the Hashrate/Market Cap ratio, support this bullish outlook. Comparison to Previous Market Cycle Young Ju notes that Bitcoin’s hash rate is currently three times higher than it was at…
Whale Accumulation Slowing Down Bitcoin whales, those with over 1,000 BTC, have been buying during dips this year. However, recent data shows that their accumulation is slowing down. This decline could worry investors as Bitcoin struggles to stay above $60,000. Whales Buying Less in Each Dip The biggest whale accumulation happened in March, with over…
Historical Trends Crypto expert Rekt Capital has predicted a timeline for Bitcoin’s peak in this bull cycle based on historical price patterns. Current Price Action Bitcoin’s recent drop below $61,000 suggests a potential downward trend. However, Rekt Capital believes this consolidation between $60,000 and $70,000 will slow down the cycle and align it with past…
CEO’s Bullish Outlook Thomas Jong Lee, CEO of Fundstrat, believes Bitcoin is poised for a massive surge. He predicts it could double in value to $150,000 by 2024. Factors Driving Growth Strong demand for Bitcoin Integration of Rune Protocol on the Bitcoin network Market Volatility Despite recent fluctuations, Lee remains confident in Bitcoin’s long-term value….
Susquehanna’s Monster Investment Susquehanna International Group, a giant in asset management, has made a huge investment in Bitcoin through exchange-traded funds (ETFs). According to a recent disclosure, Susquehanna held about $1.2 billion in spot ETFs in the first quarter of 2024. Significant Holdings Susquehanna’s investment is notable for its size and diversity. They own a…
Outflows Hit $284 Million Institutional investors are fleeing Bitcoin as the crypto market remains uncertain. Last week, Bitcoin investment products saw a staggering $284 million in outflows, mostly from US Spot Bitcoin ETFs. US Spot Bitcoin ETFs Take a Hit These ETFs had a particularly rough week, with even BlackRock’s iShares Bitcoin Trust experiencing its…
Mike McGlone, a Bloomberg expert, has doubts about Bitcoin hitting $150,000 anytime soon. Here’s why: Macroeconomic Trends and Bitcoin’s Performance McGlone compared Bitcoin to the S&P 500 stock index and found that Bitcoin’s performance has been weaker in 2024 than in 2021. He also noted that Bitcoin’s performance has been similar to gold, which is…
Bitcoin has been stuck in a rut lately, despite recently crossing $60,000. Here’s why: Spot Bitcoin ETFs Lose Steam When Spot Bitcoin ETFs launched, they attracted billions in investment, which helped Bitcoin surge to an all-time high. However, demand for these funds has since dwindled, dampening Bitcoin’s momentum. Analyst Predictions Analysts like Andrey Stoychev believe…
Local Bottom Reached? Crypto analyst MilkyBull believes Bitcoin’s local bottom has been reached. He points to the fact that the next major resistance level is at $64,557. Before hitting its all-time high of $73,000, BTC will likely clear $67,000 and consolidate. Historical Patterns MilkyBull also notes that Bitcoin’s price action in 2017 suggests a similar…
