On-chain analyst Checkmate is predicting a major price move for Bitcoin (BTC) after months of consolidation. Declining Sell-Side Risk Checkmate analyzed the sell-side risk ratio for short-term holders (those holding BTC for less than 155 days) and found it rapidly declining. This indicates that sellers are losing their leverage. Bond Market Watch Checkmate is also…
Outperforming Assets Bitcoin, Ethereum, and Solana have been consistently outperforming traditional assets like gold and stocks. Bitcoin has seen a 141% annualized return, Ethereum 152%, and Solana a whopping 224%. Comparison to Traditional Assets The best-performing traditional asset, NDX, has only managed an annualized return of 17%. Cryptocurrencies have been the top-performing assets in 11…
Inflows Drive Rally Bitcoin has surged 2.9% in the past 24 hours, hitting a high of $71,166. This rally is largely attributed to strong inflows into US spot Bitcoin ETFs. These ETFs have seen a record 16 consecutive days of net inflows, with yesterday alone seeing $886.6 million flowing in. Fidelity led the way with…
Banking Crisis Boosts Bitcoin Bitcoin, the digital currency, is making waves as the US banking system faces challenges. Some believe Bitcoin will skyrocket in value, while others remain cautious. Bitcoin: A Safe Haven? Bitcoin supporters argue that it’s a stable investment in uncertain times. Unlike traditional investments tied to banks, Bitcoin has a limited supply…
Breaking the Barrier Bitcoin has broken through the $70,000 resistance level, signaling a potential surge in its value. Analyst YG Crypto emphasizes that maintaining this level is essential for the cryptocurrency to regain its bullish momentum. Significance of the $70,000 Mark Overcoming this resistance level could trigger significant price swings. It coincides with renewed interest…
Matt Hougan, Chief Investment Officer at Bitwise, believes that the changing regulatory landscape in Washington D.C. could have a bigger impact on the crypto market than BlackRock’s entry. Washington’s Evolving Stance Hougan points out that recent bipartisan efforts in US legislation signal a warming stance towards digital assets. He believes that understanding the nuances of…
Bitcoin’s Influence The recent rally in Dogecoin and Shiba Inu prices is largely attributed to Bitcoin’s bullish trend. Bitcoin’s rise above $71,000 has boosted investor sentiment, spilling over to meme coins. Positive Economic Indicators The U.S. job market is stabilizing, with a drop in layoff figures and a low job-to-worker ratio. This positive news has…
Coinbase’s Major Contribution Coinbase, a popular crypto exchange, has donated $25 million to Fairshake Super PAC, a group that supports pro-crypto candidates. Coinbase CEO Brian Armstrong believes it’s crucial to counter opposition to digital assets in Congress. Industry Titans Join Forces Other major players like Kraken, Gemini, Andreessen Horowitz, and ARK Invest have also contributed…
A prominent crypto trader believes that artificial intelligence (AI) altcoins are poised to rally in the coming months. Top AI Altcoin Picks The trader, known as Altcoin Sherpa, has identified several AI altcoins with potential for growth: Render (RNDR): A decentralized graphics processing unit (GPU) rendering blockchain Fetch.ai (FET): An AI and machine learning platform…
Bitwise CIO Matt Hougan believes the crypto industry is underestimating a significant political shift in Washington, D.C. Political Muscle Hougan highlights the industry’s success in building political influence, including the establishment of one of the largest political action committees in the capital. Market Impact If the true extent of this shift were understood, Hougan argues,…
