Economist’s Warning Peter Schiff, a well-known Bitcoin critic, predicts a potential decline in Bitcoin’s price if it drops below $60,000. He believes that Bitcoin’s current position is not favorable for investors. Importance of Support Levels Schiff emphasizes the importance of Bitcoin holding above $60,000. If it fails to do so, he warns of a significant…
Upbit, South Korea’s largest crypto exchange, has a staggering 80% share of the country’s trading volume. This dominance has placed it among the top five global exchanges. Global Recognition Upbit’s dominance in South Korea is unmatched in other major crypto hubs. Over 6 million Koreans, or 10% of the population, traded cryptocurrencies in the first…
Long-Term Holders’ Pattern IntoTheBlock, a market intelligence platform, has identified a pattern in Bitcoin’s long-term holders (LTHs) that suggests the bull market may not be over yet. LTHs are investors who have held their coins for over a year. LTHs and Market Resilience LTHs are considered the most resilient investors, as they tend to hold…
Despite a recent 13% drop from its peak, Bitcoin remains a hot topic. One analyst believes the coin is in a “Wyckoff Re-accumulation” phase, where big players are quietly buying at a discount. Wyckoff Re-accumulation Pattern This pattern suggests Bitcoin is consolidating within a trading range of $60,000 to $74,000. The analyst believes this consolidation…
Inflows Dry Up BlackRock’s Bitcoin ETF (IBIT) has hit a snag in its impressive run. After 71 consecutive days of inflows, the ETF recorded zero inflows on Wednesday. This is the first time in almost three months that IBIT has not seen any new money coming in. Turning Point? IBIT had been leading the pack…
Former BitMEX founder Arthur Hayes predicts a surge in Bitcoin (BTC) and other cryptocurrencies as the US government ramps up money printing ahead of the November presidential election. Deleveraging Debt Hayes argues that major economies, including the US, China, the EU, and Japan, are devaluing their currencies to reduce their debt burdens. This process, known…
Bloomberg ETF analyst Eric Balchunas is skeptical about the SEC approving a spot Ethereum (ETH) ETF by late May. Reasons for Pessimism Delayed Approval Process: The SEC has not yet provided comments to issuers, which typically precedes multiple rounds of feedback and revisions. SEC Chair’s Views: Balchunas believes SEC Chair Gary Gensler considers Ether a…
A skilled memecoin trader has made headlines by turning a mere $8,524 into an astounding $12,800,000 in just a few weeks. Pepe (PEPE) Profit Bonanza According to Lookonchain, the trader bought 2.83 trillion PEPE tokens for $8,524. They then sold 1.81 trillion PEPE for $4.57 million and still hold 1.02 trillion PEPE, currently worth $8.25…
Bitcoin’s Price Action A crypto analyst, Bluntz, believes Bitcoin is poised for a breakout based on its two-hour chart. The chart shows a symmetrical triangle pattern, which could indicate a breakout above $67,000. Bluntz predicts that if Bitcoin breaks through this resistance level, “the whole market flies.” Solana’s Memecoin Bluntz also analyzed Solana’s memecoin, dogwifhat…
Funding Rate Dip: A Brief Bearish Blip After the recent Bitcoin halving, the funding rate briefly dipped into negative territory, indicating a bearish outlook. However, this dip was short-lived. Renewed Bullishness Following the halving, the funding rate quickly recovered and is now positive, suggesting a return to a bullish market sentiment. Increased Open Interest The…
