Bitcoin’s ‘Max Pain’ Scenario According to analyst Bluntz, Bitcoin may be experiencing a “Max Pain” scenario, where it spikes to $76,000 before dropping to $64,000. This would lure investors back in with fear of missing out, only to see it fall again before a true rally. Gold’s Parabolic Rise Bluntz believes gold is poised for…
A recent analysis has revealed that a single anonymous custodian, believed to be Cobo Custody, holds a significant amount of Bitcoin mined by major mining pools. Concentration of Control The custodian controls the Coinbase addresses of at least nine mining pools, including AntPool, F2Pool, Binance Pool, and Poolin. This means that for every 100 Bitcoin…
Low Fees for Bitcoin Miners Bitcoin transactions have been incredibly cheap lately, with fees hovering near their lowest point in recent times. This means that miners have been earning very little from fees. Block Subsidy and Transaction Fees The total revenue for Bitcoin miners comes from two sources: block subsidies (rewards per block) and transaction…
Binance’s Proof of Reserves Binance, the largest crypto exchange, recently released its latest Proof of Reserves (PoR) report. This report shows how much crypto they hold for their users. Shiba Inu Holdings The report reveals that Binance holds over 65 trillion Shiba Inu (SHIB) tokens. This means that for every SHIB that users have on…
The Mango Markets Scandal On October 11, 2022, Avraham Eisenberg allegedly inflated the MNGO token by 1000% in 20 minutes. He then used this inflated value to borrow over $110 million from Mango Markets, which was later revealed to be a theft. Eisenberg’s Trial Eisenberg’s trial is underway in a New York federal court. The…
Billionaire investor Mike Novogratz predicts a bright future for Bitcoin and precious metals due to the Federal Reserve’s potential rate cuts. Rate Cuts Boost Liquidity, Benefit Bitcoin Novogratz believes that rate cuts will increase liquidity, making Bitcoin more attractive to investors seeking a safe haven during economic uncertainty. He views Bitcoin as a store of…
Arthur Hayes, founder of BitMEX, warns that the upcoming Bitcoin halving could lead to a temporary slump in the crypto market. Reasons for the Warning Hayes believes that the current macroeconomic conditions, combined with the widely anticipated bullish sentiment surrounding the halving, could create a perfect storm for a sell-off. He argues that when market…
According to Tom Lee, founder of Fundstrat Global Advisors, the stock market is poised to continue its rally due to easing inflation and investor caution. Inflation on the Decline Lee believes inflation is falling faster than expected, which will allow the Federal Reserve to cut interest rates this year. This will benefit the stock market…
Legendary trader Peter Brandt sees a familiar pattern in Bitcoin’s recent behavior, suggesting a potential rally to $80,000. However, he warns of a correction afterward, a common occurrence in Bitcoin bull markets. Bitcoin’s Bullish Momentum Brandt’s chart analysis shows a diagonal resistance level that Bitcoin is threatening to break. This could trigger a rally, pushing…
Key Findings The latest US Consumer Price Index (CPI) data shows inflation is rising faster than expected. Both headline and core inflation rates increased by 0.4% month-over-month. Year-over-year core CPI remains at 3.8%. Market Reactions The crypto market reacted with a swift downtrend, with Bitcoin (BTC) initially dropping by 2.7%. Altcoins have also seen significant…
