Confidence on the Rise Crypto investors are showing renewed faith in Bitcoin, as evidenced by a surge in accumulation by large-scale investors. Despite Bitcoin’s recent price struggles, investors remain optimistic about its long-term prospects. Bitcoin Leaves Exchanges Crypto analyst Ali Martinez reports a significant outflow of Bitcoin from centralized exchanges. Over $2.5 billion worth of…
Accumulation Phase CryptoQuant CEO Ki Young-Ju noticed similarities between Bitcoin’s current behavior and mid-2020. Back then, prices were stagnant, but there was a lot of activity behind the scenes. Young-Ju’s charts show a surge in the “realized cap for new whales” in mid-2020. This means large investors were buying up Bitcoin. Despite the current sideways…
Bearish Indicators Point to a Crash In May, crypto analyst Xanrox predicted a decline in Bitcoin’s price, which has since come to pass. Xanrox identified several bearish indicators: FVGAP at $62,000: A gap in the price chart that often signals a retracement. Elliott Wave Perspective: The completion of Wave 1 and the expected correction in…
BlackRock Overtakes Grayscale BlackRock’s iShares Bitcoin Trust has become the largest Bitcoin fund globally, dethroning its rival, Grayscale Bitcoin Trust (GBTC). As of May 28, BlackRock’s Spot Bitcoin ETF held $19.68 billion in assets under management (AUM), while Grayscale’s Bitcoin ETF held $19.65 billion. Grayscale’s Decline Since its conversion into an ETF in early 2024,…
Analyst Josh Olszewicz believes Bitcoin is on the verge of a major breakout if it can overcome the crucial $72,000 resistance level. Technical Analysis Ichimoku Cloud: Bitcoin’s price is above the cloud, indicating a bullish trend. Fibonacci Extensions: The 1.0 extension is at $71,897.29, aligning with the key resistance level. Volume Profile: Declining volume suggests…
The Halving Effect: A Catalyst for Growth A crypto analyst predicts that Bitcoin could reach $156,000 by May 2025. This prediction is based on the “halving” phenomenon, where the number of Bitcoins rewarded for mining is cut in half every four years. Historically, this has led to price increases: 2012 halving: 8,300% increase 2016 halving:…
What Whales Are Doing Major Bitcoin holders, known as “whales,” are changing the distribution of liquidity. They’re reducing sell orders at higher prices and increasing buy orders between $60,000 and $67,000. This is pushing Bitcoin into a narrower price range. Bullish Outlook Despite recent price fluctuations, analysts remain optimistic about Bitcoin’s long-term prospects. They cite…
Amidst the positive vibes in the crypto world, Crypto Con, a well-known crypto expert, has shared his bullish view on Bitcoin. He believes that Bitcoin has the potential to reach $123,832 in the coming months based on historical patterns. Price Bands and Target Crypto Con’s analysis focuses on Bitcoin’s price bands, with level 3 being…
Massive Bitcoin Transfer On May 27, Mt. Gox, a bankrupt Bitcoin exchange, moved 42,830 BTC (worth $2.9 billion) to unknown wallets. This is the first such transfer in five years. Reason for Transfer Unknown The reason for the transfer is unclear, but it comes after Mt. Gox announced plans to compensate creditors who lost money…
Why the Halving Isn’t Priced In Bitcoin halvings, which occur every four years, reduce the rewards miners receive for processing transactions. This reduced supply typically leads to a price increase if demand remains the same or increases. According to Rekt Capital, a renowned crypto analyst, the market has not yet fully priced in the recent…
