Bitcoin

The post Japanese Metaplanet Boosts Bitcoin Holdings: Adds 19.87 BTC to Reach $7.4M in Crypto! appeared first on Coinpedia Fintech News In a strategic move reminding us of MicroStrategy, Metaplanet has plunged into Bitcoin, marking it as its top pick for savings. Recently disclosed, the Japanese giant, Metaplanet Inc., has revealed an additional 19.87 Bitcoins, boosting its total holdings to over 117.7 Bitcoins, which are now valued at approximately $7,396,560. This signals a major change in its investment strategy and…

The post Bitcoin Miners Under Pressure: Revenue Decline and Hashrate Drop Post-Halving appeared first on Coinpedia Fintech News Bitcoin miners face heightened pressure post-halving as revenue drops abruptly. It left them underpaid by the most since March 2020. The network experienced this year’s fourth negative difficulty adjustment, with a significant drop of -5.6% in hashrate. In fact, it is the largest since November 2022. The strain on miners is this decline highlights the strain on miners, aggravated by a reduction…

The post Marathon Digital’s Bitcoin Mining Yields $176M Profit Surge in Q1 2024 appeared first on Coinpedia Fintech News Marathon Digital disclosed mining 2,811 bitcoins, valued at $176 million, in Q1. Net income soared 184% compared to the prior year. Amid Bitcoin’s record highs, profits surged to $337.2 million, with revenues reaching $165.2 million, witnessing an increase of 223% from Q1 2023. The company aims to energize 50 exahash of hash rate by the end of 2024, and leverage recent…

Bitcoin price found support near the $60,600 zone. BTC is recovering but the bears might remain active near the $63,200 resistance zone. Bitcoin tested the $60,60 support zone and started a recovery wave. The price is trading near $63,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $62,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there…

An analyst has explained why the recent high in Bitcoin has experienced different market conditions than those observed during the 2021 bull run peak. Bitcoin Liquidations Have Been Short-Dominated In Recent Market High In a new post on X, on-chain analyst Checkmate pointed out how the latest 2024 high achieved following the spot exchange-traded fund (ETF) inflows has a major difference when compared to the 2021 peak. The difference lies in the trend registered on derivatives markets. Below is the…

Bitcoin, the leading cryptocurrency, has recently been scrutinized by several analysts and traders as it struggles to maintain its market position. Michaël van de Poppe, a recognized figure in the crypto analysis sector, has recently expressed his concerns regarding Bitcoin’s current price trajectory. Bitcoin Risks Dropping to $52,000, Why? Taking to Elon Musk’s social media platform X, Van de Poppe pointed out that Bitcoin is at the lower end of its current range, a crucial area for maintaining upward momentum.…

The Bitcoin price has experienced heightened volatility over the past week. After recovering from a low of $56,500, the largest cryptocurrency in the market surged to $65,500 within four days. However, it has since retraced some of its gains and is currently testing the $61,000 support level.  Despite this volatility and the absence of strong bullish momentum, venture capital firm Pantera Capital remains optimistic about the future of BTC’s price, citing the recent Halving event as a significant factor. Pantera…

Bitcoin has been trending lower after failing to break above $66,000 in early May, deflating hopes of immediate price gains post-Halving. Taking to X, one analyst shared on-chain data that paints a more nuanced picture than a simple loss of confidence in recent weeks.  Bitcoin Open Interest Remains Low: Bullish? The analyst, pointing to CryptoQuant data, observes that leveraged traders on perpetual trading platforms like Binance appear to be closing their positions more than opening new ones. The analyst notes that the…

Ki Young Ju, CEO of cryptocurrency analysis firm CryptoQuant, has given an ultra-bullish prediction for Bitcoin. The crypto founder alluded to certain factors that could spark the flagship crypto’s rise to such heights.  Bitcoin Could Rise To As High As $265,000 Young Ju mentioned in an X (formerly Twitter) post that “Bitcoin’s network fundamentals could support a market cap three times its current size compared to the last cyclical top.” He added that this development could help BTC rise to…