Sharks Accumulate Massive Amount of Bitcoin Bitcoin investors holding between 100 and 1,000 BTC (known as “sharks”) have been buying heavily in the past month. They’ve added a net 268,441 BTC to their wallets, worth approximately $18.6 billion. This is the largest accumulation by sharks since 2012. Significance of Shark Activity Sharks are smaller than…
Grayscale, a big player in the crypto world, has launched a new fund called the “Dynamic Income Fund” (GDIF). This fund focuses on investing in cryptocurrencies that use the “proof-of-stake” method. What is Proof-of-Stake? In proof-of-stake, investors help secure a blockchain network by “staking” their tokens. In return, they earn rewards in the form of…
Amidst Nigeria’s crackdown on cryptocurrency, Tigran Gambaryan, a detained Binance executive, has filed a lawsuit against the Nigerian government. Allegations of Rights Violation Gambaryan claims that his detention and passport confiscation violate Nigeria’s constitution. He alleges that he was invited to discuss Binance’s operations in Nigeria and did not commit any offenses. Demands for Release…
Open Interest: A Measure of Market Activity The total open interest in the crypto market, which measures the number of active derivative positions, has reached an all-time high of $51.3 billion. This indicates that investors are actively placing bets on the future direction of cryptocurrencies. Volatility Ahead? Typically, high open interest levels suggest increased leverage…
Mike Novogratz, CEO of Galaxy Digital, believes that the soaring US debt will accelerate the adoption of Bitcoin (BTC). Debt-Driven Bitcoin Demand Novogratz argues that investors are increasingly recognizing the value of Bitcoin as a hedge against the US dollar’s potential devaluation due to mounting debt. “Our government is adding a trillion dollars of debt…
Floki (FLOKI) Crypto analyst Kaleo believes Floki is poised for a significant rally against Bitcoin (FLOKI/BTC). The chart shows a bullish trend with higher lows, indicating a potential breakout of a key resistance level. Kaleo predicts FLOKI/BTC could reach $0.000340, surpassing its all-time high. BNB Kaleo is also optimistic about BNB, the native token of…
Cryptocurrency expert Ali Martinez believes a lesser-known memecoin called Brett (BRETT) is poised for a significant increase. Brett’s Potential Rise Martinez predicts Brett could rise by 57% from its current value, reaching $0.080. However, he cautions that a temporary dip to $0.038 may occur before the surge. Bitcoin’s Outlook Martinez also comments on Bitcoin (BTC),…
Hedge fund veteran Mark Yusko believes Bitcoin (BTC) could triple in price in the coming months. Fair Value and Halving According to Yusko, Bitcoin’s fair value is estimated at $50,000 based on network effects. The upcoming halving, scheduled for April 20-21, will cut block rewards for miners. This has historically led to price increases, potentially…
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….
