Bitcoin

Bitcoin has observed a crash below the $58,000 level today. Here’s what could be a potential cause for it, according to on-chain data. Bitcoin Long-Term Holders Have Just Taken Large Profits As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin long-term holders harvested a large amount of profits during the latest price drawdown. The on-chain metric of interest here is the “Spent Output Profit Ratio” (SOPR), which basically tells about whether the BTC investors are selling/transferring…

Crypto expert Michael van de Poppe has highlighted an important indicator which suggests that Bitcoin could make a crucial bounce from its current price level. This follows the flagship crypto’s recent decline below $60,000.  BTC’s CME Gap Has Closed Van de Poppe revealed in an X (formerly Twitter) post that Bitcoin’s CME gap has closed and added that it is time for the crypto token to enjoy a relief bounce from its current price level. From the chart he shared,…

The post Mysterious Satoshi Era Bitcoin Whale Awakens, Crypto Traders Intrigue Potential Ethereum Token Purchase appeared first on Coinpedia Fintech News The Bitcoin community was electrified by the Satoshi era Bitcoin whale waking from a decade-long slumber and being associated with the RCO Finance (RCOF) token. The awakening of this wallet from the early days of Satoshi, which contained a significant amount of Bitcoin, has affected the crypto community. People have started speculating about the wallet holder’s intentions and whether…

The post Bitcoin Bloodbath Triggers $374M Liquidation Surge: What’s Next for Crypto? appeared first on Coinpedia Fintech News The cryptocurrency market experienced a sharp increase in liquidations on Wednesday, triggered by Bitcoin’s significant price drop below the $60,000 mark. In the past 24 hours, a total of 132,091 traders were liquidated, resulting in total losses amounting to $374.81 million. Bitcoin’s Sharp Decline Bitcoin, the flagship cryptocurrency, faced intense selling pressure, plummeting below $60,000 and hitting a recent low of around…

The crypto market is in a state of panic with a market-wide crash that has shaken Bitcoin and altcoins. With the Bitcoin price continuing to fall from support after support, tens of thousands of traders have lost their positions, leading to hundreds of millions of dollars in losses in just the last day alone. Crypto Market Liquidations Cross $290 Million In the last 24 hours, the Bitcoin price has been crashing, eventually falling below $57,000 before recovering again. However, the…

According to data from Arkham Intel, Mt. Gox has initiated the process of repaying creditors by transferring a nominal amount of Bitcoin to one of the designated exchanges. This development follows months of speculation and planning concerning the disbursement of approximately $8.2 billion in Bitcoin owed to creditors of the defunct exchange. Are Mt. Gox Bitcoin Repayments Beginning? Early today, three wallets historically linked to Mt. Gox executed three transactions. The most significant of these involved the transfer of $24…

The recent dip in Bitcoin (BTC) might be a temporary hiccup, according to Lark Davis, a popular crypto analyst. Davis is calling for a significant upswing in Bitcoin’s value in the coming weeks, with a target of $90,000 by year’s end. This optimistic outlook comes amidst a wave of optimism surrounding institutional investment and the potential arrival of Bitcoin exchange-traded funds (ETFs). Institutional Investors Set To Supercharge The Market Davis believes a surge of institutional money is poised to enter…

Crypto mogul Justin Sun has expressed his intention to buy a massive trove of Bitcoin, valued at approximately $2.3 billion. Sun made this bold claim as the crypto markets witnessed significant panic, particularly from the German government’s recent extensive Bitcoin transactions. Governments seize illicit crypto during various operations. Then they periodically auction off these digital assets, thereby introducing selling pressure into the market. German Government Moves $174.3 Million Worth of Bitcoin Over the past few weeks, the German government has…

The post German Government Offloads $175M Worth of Bitcoin; BTC Price Struggles to Hold $56.5K appeared first on Coinpedia Fintech News The cryptocurrency market has been trapped in a bloodbath in the past three days led by Bitcoin (BTC), which is attempting to retest the support level of around $56,500. The total crypto market cap slipped around 5 percent in the last 24 hours to hover about $2.25 trillion on Thursday during the early New York session.  As a result,…