Bitcoin

The German government has recently begun selling millions of dollars worth of Bitcoin (BTC) from a confiscated wallet, further contributing to the lack of catalysts for a price recovery in the cryptocurrency market.  The move comes as increased selling activity and unprecedented selling by long-term BTC whales have led to a sharp price correction, preventing Bitcoin from consolidating above $70,000 and retesting its previous all-time high. Whales And German Government Fuel Market Volatility According to blockchain analysis platform Arkham, the…

Recent data from CryptoQuant has highlighted a significant shift in Bitcoin Miners behavior, with miner reserves dropping to their lowest levels since 2010 while over-the-counter (OTC) selling activity has surged to higher levels. What This Means For BTC At the beginning of the year, miner reserves stood at approximately 1.87 million BTC but have yet to grow to about 1.81 million BTC today, a level not seen since 2010. This reserve decline is notable as it indicates a higher propensity…

Bitcoin is trending lower at spot rates, sliding away from all-time highs. Looking at the performance in the daily chart, it looks like bears are stepping up, following the general inactivity in an overwhelmingly bearish trend. When writing, the coin is down 10% from March 2024 highs but steady. Will Bitcoin Consolidate For Two More Months? Taking to X, one analyst argued that the current state of affairs will likely continue in the days ahead. While most experts predicted Bitcoin…

Bitcoin (BTC), the leading cryptocurrency, has regained momentum, bouncing off a weekly low of $64,000 to find support above $65,000, halting last week’s downtrend. This price recovery may be due to another significant investment round by business intelligence company MicroStrategy, led by Bitcoin bull Michael Saylor.  The company announced on Thursday the acquisition of an additional 11,931 BTC valued at approximately $786.0 million, further solidifying its position as a major institutional holder of the digital asset. MicroStrategy’s Bitcoin Holdings Surge…

The German law enforcement agency BKA has moved about 6500 Bitcoin to two top exchanges. The movement underscores the different government holdings of BTC and the selloff strain they pose. On Wednesday, the German federal police reportedly moved Bitcoin (BTC) worth approximately 670 billion Yen to a crypto deposit wallet. This movement has sparked speculations on whether a dump to $63,000 is on the horizon for Bitcoin. 6,500 Bitcoin Moved from BKA Wallet Blockchain data analysts at Arkham identified the…

The post Ethereum Predicted To Surge 50% Against Bitcoin In 2024, Solana And BNB Fail To Rally appeared first on Coinpedia Fintech News Crypto analyst Wolf recently suggested that Ethereum (ETH) could record a 50% price increase against its Bitcoin (BTC) pair. In the meantime, Solana (SOL) and Binance Coin (BNB) have failed to rally despite some other altcoins enjoying a price rebound. Meanwhile, ETFSwap (ETFS) is poised for a 100x price gain as the crypto project continues to gain…

The post Why is Bitcoin Price Up Today? appeared first on Coinpedia Fintech News Bitcoin’s market saw a quick recovery today following a period of bearish trading near $65,000. The market cap surged to $1.3 trillion, marking a notable 24-hour gain of almost 1.5%. As BTC prices jumped from a low of $65,000 to surpass $66,400, the sudden increase left many investors wondering about the reasons behind this turnaround and whether Bitcoin’s recovery will continue. MicroStrategy Adds More Bitcoin MicroStrategy,…

The current state of the Bitcoin market offers a mix of optimism and caution for investors. Over 87% of Bitcoin holders are in profit, with their investments valued higher than their initial purchase prices. On average, these investors are seeing unrealized gains of 120%, a significant figure that reflects the substantial rally that pushed Bitcoin to its all-time high in March, according to Glassnode data. However, despite these gains, the market exhibits both encouraging long-term trends and some short-term uncertainties…

VanEck's Bitcoin ETF, the first spot Bitcoin ETF on the Australian Securities Exchange, launched with significant investor interest, marking a historic milestone for cryptocurrency exposure in Australia. First BTC ETF On ASX The VanEck Bitcoin Exchange-Traded Fund (ETF) marked a significant milestone with its debut on the Australian Securities Exchange (ASX) on June 20. The VanEck Bitcoin ETF commenced trading with initial assets of approximately A$990,000 (USD 660,429). This introduction follows the ASX's approval of the listing on Monday, making…