A Comprehensive Analysis Alex Thorn, Galaxy’s Head of Research, shares his insights on Bitcoin’s current market cycle. Why This Cycle Is Different Record-breaking inflows into spot Bitcoin ETFs Strong support from long-term holders New analytical tools provide insights into market behavior The Spot Bitcoin ETF Effect ETFs are transforming how Bitcoin is accessed and invested…
Bitcoin’s Ascent Bitcoin’s value recently soared past $62,000, reaching its highest point since 2021. This surge in demand led to a massive influx of users on Coinbase, the largest cryptocurrency exchange in the US. Coinbase’s Struggles Unfortunately, the increased traffic overwhelmed Coinbase’s servers, causing widespread disruptions. Many users were unable to log in or access…
Bitcoin’s Surge Bitcoin has kicked off March with a bang, on track for its biggest monthly gain in nearly three years. Investors are pouring money into bitcoin funds, fueling a massive rally. Bitcoin is now just a hair away from its record high. Investor Frenzy Bitcoin briefly touched $64,000 on Wednesday, its first time above…
The Shiba Inu team has teamed up with Zama, a security company, to launch a new encryption standard. This upgrade aims to make SHIB more secure and support the growth of its ecosystem. Fully Homomorphic Encryption (FHE) The new encryption tool, called FHE, allows users to process encrypted data without decrypting it first. This makes…
Recent Transactions The US government has recently transferred a whopping 15,085 Bitcoin (BTC), worth around $923 million. This transfer was detected by Arkham Intelligence, a blockchain analytics firm. The funds came from two government-owned wallets that contained BTC seized from the Bitfinex hack in 2016. The transfers were made in four separate transactions over a…
Post-FTX Ventures Former employees of FTX and Alameda Research have launched Backpack, a cryptocurrency exchange, with $17 million in funding. This venture is part of a wave of startups emerging in the wake of FTX’s collapse. Backpack’s Offerings Backpack has raised $120 million in Series A funding and offers a range of products, including: Cryptocurrency…
Bitcoin has hit a new high of $64,000, but is this rally sustainable? Let’s look at what on-chain data reveals. On-Chain Activity Metrics on the Rise Santiment, an on-chain analytics firm, has analyzed Bitcoin’s on-chain activity during its recent rally. They found that three key metrics are all showing positive trends: Transaction Volume: This measures…
Strong Uptrend and Key Support Levels Ethereum (ETH) has been on a steady upward climb, with its price hovering around $3,743. It has surpassed its moving averages, indicating bullish momentum. Traders eagerly anticipate the breach of the $3,500 mark, a potential milestone towards the coveted $4,000 price tag. The 50-day moving average ($2,700) and 100-day…
A Bloomberg analyst has revealed that Bitcoin (BTC) exchange-traded funds (ETFs), which debuted in January, have witnessed a surge in individual trades, surpassing the top two ETFs in the stock market. Retail Traders Dominate According to Eric Balchunas, a senior ETF analyst at Bloomberg, Bitcoin ETFs have outperformed both the SPY and QQQ ETFs in…
A crypto expert who accurately predicted Bitcoin’s 2018 price bottom is now eyeing a memecoin and an AI-related asset for potential gains. Memecoin to Soar Analyst Bluntz believes the Solana-based memecoin dogwifhat (WIF) could generate massive returns. He compares it to another crypto asset that has already seen a 5x increase this year. “WIF will…
