Crypto analyst TechDev believes altcoins are on the cusp of a significant rally, with Bitcoin’s dominance set for its biggest drop in four years. Bitcoin Dominance Weakness TechDev’s analysis shows a bearish divergence on the five-day Bitcoin dominance chart, indicating that Bitcoin is losing momentum against altcoins. He expects this divergence to lead to a…
Whale Traders in Risk-Averse Mode According to Ki Young Ju, CEO of CryptoQuant, the largest Bitcoin (BTC) traders are now adopting a more cautious approach. The interexchange-flow-pulse (IFP) indicator, which tracks the flow of BTC between spot and derivatives exchanges, suggests that whales are entering “risk-off mode.” When traders deposit assets into derivatives exchanges, they…
Mt. Gox Saga Bitcoin’s recent crash coincides with news from Mt. Gox, the defunct exchange where a massive Bitcoin theft occurred in 2014. The trustees have announced that they will begin repaying victims in July 2024 using stolen assets. This news has shaken market confidence as investors fear that the influx of these assets could…
Sudden Price Drop On Monday morning, Bitcoin plummeted 5% to $61,000, triggering a wave of liquidations. Massive Liquidations Data shows that over 91,000 crypto traders lost their leveraged positions, resulting in $282 million in liquidations within 24 hours. Long Traders Hit Hard Most liquidations (91.59%) were from long traders, who bet on Bitcoin rising. Top…
Bitcoin has been on a downward spiral, with its price approaching the critical $60,000 mark. Investors are getting anxious as the market turns bearish due to economic factors and increased selling. Current Market Overview Bitcoin’s price is currently at $62,334, down 3.11%. Market capitalization is over $1.2 trillion. Trading volume has surged by 96.46% in…
Miner Exodus Since the Bitcoin halving in April, miners have seen their earnings cut in half. This, combined with low revenue, has led to a mass exodus of miners, especially those with less efficient equipment. Impact on Bitcoin Price The sell-off of over 30,000 BTC by miners has contributed to Bitcoin’s price drop to around…
Kariya’s Farewell Kanav Kariya, the former president of Jump Crypto, announced his resignation after six years with the company. He expressed gratitude for his time at Jump and confidence in its future. CFTC Investigation Kariya’s resignation coincides with an ongoing investigation by the Commodity Futures Trading Commission (CFTC) into Jump Trading Group’s crypto market activities….
Market Sentiment and Analyst’s Prediction Despite recent declines, cryptocurrency analyst Captain Faibik predicts a significant bullish wave for Bitcoin. He believes that BTC could see a 30-40% surge in the coming weeks. Technical Analysis Faibik’s analysis suggests that Bitcoin has been consolidating between $60,000 and $70,000 for the past four months. A breakout above $70,000…
June has been a rough month for Bitcoin investors, with the price taking a nosedive. Here’s why: Miners Sell-Off Bitcoin miners have been selling off their Bitcoin at an alarming rate. They’ve sold over $2 billion worth of BTC in the past month, the fastest pace in over a year. This sell-off is partly due…
Ethereum’s value has dropped about 18% since March 2024. Despite the current bearish trend, analysts remain optimistic. Rising Institutional Interest Data from the Chicago Mercantile Exchange (CME) shows a surge in open interest for Ethereum futures. This indicates that institutions are buying up ETH, potentially driving prices higher. This trend is similar to what happened…
