Bitcoin

Bitcoin’s (BTC) price fell to $69,000 after Friday’s mixed US job data release, leading to over $411 million in liquidations. This decline followed the crypto market’s reaction to new economic indicators, which showed both positive and concerning signs for the US economy. Economic Indicators and Market Sentiment Set the Stage for Bitcoin’s Next Move Non-farm payrolls expanded to 272,000 for May, significantly above April’s 165,000 and the Dow Jones estimate of 190,000. However, the unemployment rate rose to 4% for…

The post Why the Bitcoin Price is Down Today? appeared first on Coinpedia Fintech News The cryptocurrency market has taken a significant downturn today, with Bitcoin falling below its $71,000 support level to $68,500, and Ethereum dropping to $3,600. The global crypto market cap has decreased by 2.60% to $2.55 trillion, while total market volume surged by 42.17% to $106.43 billion. Meanwhile, many are wondering what’s the key reason behind the sudden market drop. Reasons Behind the Market Decline The…

The post Arthur Hayes Suggests Going Long On Bitcoin And Other Cryptocurrencies appeared first on Coinpedia Fintech News Arthur Hayes has recently explained how early rate cuts by Central Banks could strengthen the crypto market. According to Hayes, the early rate cuts display the Central banks’ efforts to stimulate economies, leading investors to turn to cryptocurrencies as alternative investments. Hayes also proposed a strategy involving the US Federal Reserve and the Bank of Japan to strengthen the yen. Hayes expects…

The Bitcoin price has stalled after hitting the $71,000 level, floating in what is essentially a limbo of indecisiveness. Naturally, periods like these act as a predecessor to a massive move, but what direction the price might be headed in is another thing entirely. In an effort to pinpoint where Bitcoin is going, crypto analyst Alan Santana has analyzed the Bitcoin chart and come up with a possible direction. Bitcoin Could Be Headed Downward Alan Santana’s analysis looks at the…

The on-chain analytics firm CryptoQuant has explained why Bitcoin and Ethereum have recently appeared to be on a path towards acceleration. Bitcoin & Ethereum Are Looking Bullish In On-Chain Metrics In a new thread on X, the official CryptoQuant handle discussed how some important on-chain indicators are looking for Bitcoin and Ethereum right now. The first two metrics of interest here keep track of the demand from the permanent holders and the whales. First, here are the relevant charts for…

Daniel Batten, a Bitcoin environmental impact analyst stated that despite widely spread news, Bitcoin mining was only temporarily suspended in China. China’s mining activities have contributed to 15% of the worldwide hashrate. Daniel Batten, a Bitcoin environmental impact analyst has disclosed that Bitcoin mining was never officially banned in China. According to Batten’s new revelation, contrary to the widely spread news the so-called “ban” was a temporary suspension, and mining activities have largely resumed across the country. Batten’s report highly…

Data shows that cryptocurrency investors’ sentiment has surged to extreme greed recently, a sign that may not be ideal for Bitcoin. Bitcoin Fear & Greed Index Is In The Extreme Greed Territory Right Now The “Fear & Greed Index” is an indicator created by Alternative that keeps track of the average sentiment present among the traders in the Bitcoin and wider cryptocurrency market. The index represents this sentiment as a number between zero and 100. To calculate the score, the…

US spot Bitcoin ETFs have experienced a noteworthy streak of net inflows for 18 consecutive days, contributing to the upward momentum of the leading cryptocurrency as it inches closer to its all-time high levels set in March.  According to Bloomberg data, these ETFs, managed by some of the world’s largest financial institutions, have attracted net subscriptions of $15.6 billion since their launch on January 11, bringing total assets under management to a substantial $62.3 billion. Record-Breaking Demand For Bitcoin ETFs…

The post Bitcoin Cash Price Prediction: BCH Price To Rally 30% This June? appeared first on Coinpedia Fintech News With the market leader, Bitcoin price, holding its value above the $71,000 mark, Bitcoin Cash price has successfully regained momentum by displaying a positive uptrend since the week started. Positively, the BCH price has added 3.71% within the past day and 9.84% over the past seven days. Moreover, it has added 9.12% within the past day and has a Year-to-Date (YTD)…