Market Fluctuations Bitcoin has been experiencing some ups and downs, hitting $72,500 on Monday before dropping below $70,000 on Tuesday. This is likely due to investors being cautious ahead of the release of US inflation data today. However, Bitcoin has since recovered slightly and is now trading above $69,400. Hong Kong’s ETF Launch Hong Kong’s…
Bitcoin Halving and Potential Downtrend Cryptocurrency investors are buzzing about the upcoming Bitcoin halving, hoping it will boost the market. But analyst Benjamin Cowen warns that Bitcoin’s price could follow a historical pattern and dip. Cowen’s Prediction Cowen noticed a trend that suggests Bitcoin’s price may decline after the halving. He believes it could follow…
Co-Founder’s Predictions Arthur Hayes, former CEO of BitMEX, predicts a major Bitcoin fire sale and potential price drop. Halving Impact Hayes believes the upcoming Bitcoin halving (every four years) could trigger a bearish trend. While others expect a rally, he suggests a period of diminished liquidity and increased volatility. Fire Sale Timing Hayes predicts the…
Skybridge CEO’s Optimistic Outlook Anthony Scaramucci, CEO of Skybridge Capital, is a long-time Bitcoin advocate. He recently predicted that Bitcoin’s market capitalization will eventually reach half of gold’s. Factors Driving Bitcoin’s Growth Scaramucci attributes Bitcoin’s positive outlook to: Increased regulatory clarity Approval of Spot Bitcoin ETFs Halving event reducing supply Bitcoin as a Store of…
Strong Spot Demand Increased demand in the spot market suggests the rally may have staying power. Data shows $40.7 million in short positions were liquidated, pushing prices higher. BTC Halving Approaching The upcoming halving (reducing Bitcoin rewards) is expected to drive prices higher. Experts believe the halving is not yet fully priced in. Correlation with…
Analyst’s Predictions Cryptocurrency analyst Michael Van De Poppe believes that Bitcoin (BTC) is poised to reach $300,000 during this bull cycle. He cites Bitcoin’s recent consolidation and the upcoming Bitcoin Halving as factors that could fuel its growth. Resistance and Breakout BTC has been facing resistance, but Poppe anticipates a breakout that could lead to…
Consolidation Phase: A Bullish Precursor As the Bitcoin halving approaches, analysts like Joe Consorti believe we’re in a crucial consolidation phase. Bitcoin has been hovering around $60,000 for several weeks, a pattern that has historically preceded bull runs. Market Dynamics and Correlation Breaks The current market cycle has seen correlation breaks between the stock market…
ETF Inflows Signal Long-Term Investor Interest Bitcoin’s recent dip raised concerns, but ETF inflows have remained strong. Three consecutive days of net inflows into Bitcoin ETFs show that investors are still eager to invest in crypto. BlackRock’s ETF Leads the Charge BlackRock’s iShares Bitcoin Trust (IBIT) has seen the highest net inflow, over $144 million…
Bitcoin started 2024 strong, reaching an all-time high of $73,750 in the first quarter. While the price has since declined, major Bitcoin holders (whales) have been steadily accumulating throughout the first three months of the year. Whales Acquire Billions of Dollars in Bitcoin According to blockchain analytics firm Santiment, whales holding between 100 and 100,000…
Buying Spree by Short-Term Holders Since December 2023, short-term Bitcoin holders have been on a buying spree, accumulating over 1.2 million BTC. This surge in interest follows the launch of Spot Bitcoin ETFs in the US. Accumulation by Whales and Retail Investors Previously, accumulation was primarily driven by whales and long-term holders. However, recent data…
