Bitcoin

In recent months, the correlation between surging US equities and Bitcoin (BTC) has shown signs of collapse, as the cryptocurrency faces a combination of excess supply and weakened demand that has led to an over 20% price drop from June highs above $70,000 for the largest cryptocurrency on the market.  Bitcoin Correlation With Nasdaq 100 According to Bloomberg, the 90-day correlation coefficient between Bitcoin and the Nasdaq 100 index dropped to 0.21 on Tuesday, marking its lowest level since the…

While the Bitcoin price hasn’t reclaimed the crucial $60,000 level to reenter the previous 4-month trading range, Ikigai Asset Management Chief Investment Officer (CIO) Travis Kling thinks that the current bearish phase is not more than a “boogeyman.” Via X, Kling listed eight reasons to be bullish on Bitcoin. He stated: “NFA. I’m wrong often. The current “bearish” backdrop seems easier to look through and buy than most of the boogeymen we’ve had in these markets over the last 6…

Despite the latest market sell-offs, financial analysts have noticed an Ethereum mega whale has amassed a large holding of certain interesting crypto tokens. The anonymous crypto investor has gathered $120 million in Shiba Inu (SHIB) and ETFSwap (ETFS), a Bitcoin ETF token.  Massive Shiba Inu (SHIB) Acquisition By Anonymous Ethereum Mega Whale The crypto market has recently turned its attention to Shiba Inu (SHIB) and a new Bitcoin ETF token, ETFSwap (ETFS). The increasing interest in this new Bitcoin ETF token…

In a recent episode of Crypto Banter’s “The Sniper Trading Show,” the analyst dissected Bitcoin, discussing various hurdles and approaches to handle trading through these challenges. With Bitcoin currently teetering around the $57,403 mark, up by 2.4% in the past 24 hours yet still down 21.9% from its March peak, the market sentiment is cautiously tinged. This cautious stance is echoed by the Crypto Fear and Greed Index, which the analyst shows stands at a wary 28, indicating that buyers…

The German government dogged selling of Bitcoin continues, but the $BTC price appears to be holding firm so far. Can the Bitcoin bulls absorb all the selling, or could we see another dump to the downside? $BTC price remains buoyant According to Arkham Intelligence, the German government sent another 5103 BTC to exchanges on Wednesday morning, worth around $300 million. The German government holdings are now down to 18,860 BTC, worth $1.11 billion. In the face of all this selling,…

80 days following the Bitcoin halving event, cautious optimism persists among crypto enthusiasts. Over half of the crypto investors still exhibit bullish sentiments despite a general market pullback that nullified initial post-halving gains. According to a recent CoinGecko survey, 49.3% of market participants maintain a bullish outlook, whereas about one-fourth adopt a neutral stance, indicative of the prevailing uncertainties or a wait-and-see approach toward market trends. Crypto Investors and Builders Are Bullish The survey analyzed different groups within the crypto…

After a challenging period, Bitcoin exchange-traded funds (ETFs) have recorded net inflows in the last three trading days. Indeed, investors have injected over $500 million into Bitcoin ETFs this week as BTC nears the significant $60,000 mark. This substantial investment demonstrates a rebound in ETF investors’ sentiment. Investors’ Accumulation Pushes Bitcoin’s Price Towards $60,000 Currently, Bitcoin trades at $59,000, showing a notable rise from this week’s low of $54,200. Since Monday, the crypto’s value has surged over 9%, indicating a…

The post Bitcoin to Reach $250K, Solana to Surge to $800: Here’s How And Why appeared first on Coinpedia Fintech News A popular analyst has raised his price target for Solana (SOL), projecting a potential value of $480 by the end of 2025, with a high-end estimate reaching $800. Virtual Bacon’s latest forecast hinges on several key metrics, including Solana’s supply and market cap. Currently, Solana has a supply of 579 million tokens with an annual inflation rate of 5.2%.…

The post German Government’s Bitcoin Activity appeared first on Coinpedia Fintech News In the past 24 hours, the German government’s Bitcoin wallet has been notably active, transferring out 6,307 BTC ($362.1M) and receiving 2,810 BTC ($161.6M). This suggests a net sale of 3,497 BTC ($200.5M), reducing their current holdings to 23,964 BTC ($1.38B). From June 19 to July 5: The German, US, and Mt. Gox wallets collectively moved 17,788 BTC ($1.08B). July 7: The German Govt transferred 700 BTC ($40.47M).…