Bitcoin has been on a roll lately, reaching $64,000 on Sunday. Now, analysts are looking at a key level that could determine its next direction. Support and Resistance Analyst Ali Martinez has identified a “substantial support area” between $61,100 and $61,800. If Bitcoin can hold above this level, Martinez expects it to rise towards $65,900….
Bitcoin is hovering around $60,000, close to breaking its all-time high. This would be a significant milestone, as Bitcoin typically sets new records only after its halving events. The Halving’s Impact The halving reduces the number of new Bitcoins entering circulation, making the supply more scarce. This can lead to higher prices, especially when demand…
Profitability Skyrockets Bitcoin has been on a wild ride lately, with prices surging. This has led to a massive increase in profitable Bitcoin addresses. For the first time in over two years, 97% of all Bitcoin addresses are now in the green. Majority of Addresses in Profit According to IntoTheBlock, over 50 million Bitcoin addresses…
Dwindling Bitcoin Supply on OTC Desks Caitlin Long, CEO of Custodia Bank, reports that the availability of Bitcoin on Over-the-Counter (OTC) desks has plummeted, with only around 40 BTC available for sale at one point. This trend is corroborated by other industry figures, indicating a broader shift in the market. Impact on Bitcoin Price The…
February was a great month for Bitcoin, with its price soaring by 39%. This is the second most profitable February in Bitcoin’s history and the best in 11 years. Halving Effect Bitcoin halvings, which reduce the reward for miners, often lead to significant price increases. According to expert Peter Brandt, Bitcoin’s price could skyrocket to…
A Comprehensive Analysis Alex Thorn, Galaxy’s Head of Research, shares his insights on Bitcoin’s current market cycle. Why This Cycle Is Different Record-breaking inflows into spot Bitcoin ETFs Strong support from long-term holders New analytical tools provide insights into market behavior The Spot Bitcoin ETF Effect ETFs are transforming how Bitcoin is accessed and invested…
Bitwise CEO’s Optimistic Outlook Hunter Horsley, CEO of Bitwise, believes Bitcoin is on track to reach $250,000. He predicts that this milestone will be achieved sooner than most expect. Bitcoin’s Path to $250,000 Horsley believes Bitcoin will surpass its previous all-time high and rival gold’s market value. He points to the increasing demand for Spot…
Bitcoin’s Ascent Bitcoin’s value recently soared past $62,000, reaching its highest point since 2021. This surge in demand led to a massive influx of users on Coinbase, the largest cryptocurrency exchange in the US. Coinbase’s Struggles Unfortunately, the increased traffic overwhelmed Coinbase’s servers, causing widespread disruptions. Many users were unable to log in or access…
Bitcoin’s Surge Bitcoin has kicked off March with a bang, on track for its biggest monthly gain in nearly three years. Investors are pouring money into bitcoin funds, fueling a massive rally. Bitcoin is now just a hair away from its record high. Investor Frenzy Bitcoin briefly touched $64,000 on Wednesday, its first time above…
Bitcoin Holdings Surge MicroStrategy has purchased an additional 3,000 Bitcoin (BTC), bringing its total holdings to 193,000 BTC. This massive investment has now crossed the $10 billion mark, thanks to the recent surge in BTC’s price. Unrealized Profits Skyrocket MicroStrategy’s average purchase price for BTC is $31,544. With BTC currently trading above $57,000, the company…
