Bitcoin has been on a roll lately, giving us all some Easter-like vibes. This surge has lifted the whole crypto market, with other coins seeing some sweet gains too. Bullish Predictions A crypto expert named Ali Martinez thinks Bitcoin is about to make another jump. He’s spotted an “inverse head-and-shoulders” pattern on the charts, which…
Halving Impact on Supply and Demand Bitwise CEO Hunter Horsley predicts that the upcoming Bitcoin halving in April 2024 will have a significant impact on supply and demand. During the halving, the block reward for miners is reduced by half, which leads to a decrease in the token’s supply. Horsley points out that the previous…
Outflows Drop 60% Last week, investors were pulling out of the Grayscale Bitcoin ETF (GBTC) at a rapid pace. But this week, things have changed. Outflows have slowed down, reaching one of their lowest points for the month. On March 27th, 299.8 BTC left the fund. The next day, that number dropped to 104.9 BTC,…
Wyckoff’s ‘Sign of Strength’ (SOS) The Wyckoff Method, developed by Richard Wyckoff, analyzes market patterns to predict price movements. The ‘Sign of Strength’ (SOS) indicates when demand exceeds supply, suggesting a bullish trend. Bitcoin’s Recent SOS Pattern Charles Edwards, founder of Capriole Investments, believes Bitcoin is showing an SOS pattern. This suggests that the market…
Bitcoin is poised for a potential surge after forming a bullish pattern and attracting institutional investment. Bull Flag Pattern Analyst Ali Martinez identified a bull flag pattern on Bitcoin’s 4-hour chart, indicating a consolidation period after a significant price increase. The decreasing trading volume during this phase suggests a temporary pause rather than a reversal….
Recent Market Activity After a brief outflow, the Bitcoin ETF market has seen a surge in inflows, signaling growing investor confidence. This week alone, there have been significant inflows: Tuesday: $480 million Wednesday: $243.5 million Thursday: $323.8 million from Blackrock Long-Term Outlook Matt Hougan, CIO of Bitwise, believes this is just the beginning. He predicts…
Spot Bitcoin ETFs Soar Bitcoin is back on the rise, with Spot Bitcoin ETFs seeing a surge in inflows. On March 27th, these ETFs recorded a whopping $243 million in inflows, led by BlackRock’s iShares Bitcoin Trust and ARK 21Shares’ Bitcoin ETF. This marks the third consecutive day of net inflows, a welcome change from…
A major Bitcoin whale recently transferred a colossal $6 billion worth of BTC across multiple wallets, sparking speculation within the crypto community. Whale’s Mega-Transaction Blockchain analysis firm Arkham Intelligence revealed that the Bitcoin address 37XuVSE sent $6 billion in BTC to three new addresses: bc1q8yj: $5.03 billion bc1q6m5: $561.46 million bc1q592: $488.40 million The bc1q592…
Bitcoin Whales Buy the Dip As Bitcoin’s price dipped, whales (large investors holding at least 1,000 BTC) jumped at the chance to buy more at lower prices. Since January, the number of wallets with 1,000+ BTC has steadily increased. Institutional Interest Drives Whale Activity Institutional investors have poured billions into Spot Bitcoin ETFs, which require…
Bitcoin Balance on Coinbase Drops Glassnode data shows that the amount of Bitcoin held on Coinbase has dropped to a nine-year low of 344,856. This suggests that investors are holding their Bitcoin for the long term, reducing the pressure on its price. Centralized Exchange Outflows Data from Santiment indicates a drop in Bitcoin held on…
