Bitcoin

Rekt Capital a popular cryptocurrency expert has set aside the potential timeline that Bitcoin, the largest crypto asset is expected to peak in the ongoing bull cycle, citing historical price trends. Rekt Capital’s analysis examines the current price action of Bitcoin and how it aligns with previous bull cycle peaks following the Bitcoin Halving event. Bitcoin Peak On The Horizon Today, May 9, BTC’s price witnessed a drop below the $61,000 price level, demonstrating a potential move on the downside.…

In a significant move that could redefine financial transactions on Bitcoin (BTC), Lightning Labs is preparing to introduce stablecoins and other tokenized assets. Elizabeth Stark, CEO of Lightning Labs, announced this development during her appearance at FT Live’s Crypto and Digital Assets Summit in London. Lightning Labs Unveils Plan to Integrate Stablecoins on Bitcoin Network Stark revealed that the development team at Lightning Labs has already begun trial runs of their new protocol on the Lightning Network. “We released an…

The Bitcoin network’s mining difficulty has experienced its largest negative adjustment since December 2022, when the bear market was in full gear. According to data from the real-time Bitcoin dashboard Bitbo, the mining difficulty fell 5.7% to 83.1 trillion on Thursday at block height 842,688. Bitcoin Mining Difficulty Negatively Adjusts Bitcoin’s mining difficulty measures how tough and time-consuming it is to produce a new block. The difficulty rises when the number of active miners increases and falls when it decreases,…

The US SEC has set the next deadline for Invesco Galaxy’s Ethereum spot ETF on July 5, 2024. The US SEC has postponed several spot Ether ETFs in the recent past including for Grayscale, Franklin Templeton, VanEck, and BlackRock. On Monday, May 6, 2024, the United States Securities and Exchange Commission (SEC) announced its intent to postpone the deadline for either approving or disapproving the proposed rule change to list and trade shares of Invesco Galaxy Ethereum ETF. Notably, Cboe…

The post Bitcoin Bulls Trying to Regain Momentum, But Is Now the Time to Hurry and Accumulate Bitcoin? appeared first on Coinpedia Fintech News The crypto markets are on a roller coaster ride, with Bitcoin’s price changing daily. The token has become more volatile since the beginning of the month, as it marked lows at $56,552 on the very first day and managed to recover beyond $65,000 in no time. This price variation has attracted many whales who have begun…

Movement and accumulation from crypto whales are two of the catalysts for Bitcoin price increases. Although major whales are still buying the dip, on-chain data indicates a general waning accumulation momentum which suggests their conviction might actually be waning.  According to IntoTheBlock, an on-chain analytics firm, Bitcoin whale accumulation volumes have declined substantially in each buying cycle over the past month. This decline in whale accumulation could be worrying for investors, especially as the price of Bitcoin is now trying…

Bitcoin whales have begun to make substantial BTC purchasing moves, signaling market participants’ entrance into a re-accumulation phase. According to a tweet by blockchain analytics platform Santiment, large investors holding 1,000 to 10,000 BTC collectively accumulated more than $941 million worth of the asset in the past 24 hours. Bitcoin Whales Accumulate BTC The amount of BTC whales accumulated in the past 24 hours increased their holdings by 15,121 BTC, bringing their collective stash to its highest level in two…

Following a modest bullish rebound from the substantial $59K support level, Bitcoin encountered selling pressure, retracing back to the critical 100-day moving average at $61K. The price action around this pivotal juncture is likely to dictate its next decisive move. Technical Analysis By Shayan The Daily Chart A thorough examination of the daily chart reveals Bitcoin’s extended sideways consolidation phase near the pivotal $60K price range. Recently, the cryptocurrency witnessed a decline after a notable bullish rebound from the $59K…

Bitcoin’s price troubles continued in the past 24 hours as the asset dropped below $62,000 and $61,000 to chart a 6-day low. Interestingly, not all altcoins have followed BTC on the way south, as some, such as TON and RNDR, have posted impressive gains of around 7% each. BTC Down to $61K The primary cryptocurrency had a strong end to the previous week when it jumped from under $59,000 to $62,000 on Friday and kept climbing during the weekend to…