Bitcoin

The Bitcoin price made a strong comeback on Friday after witnessing a significant amount of bearish pressure throughout the past week. On Wednesday, May 1, the premier cryptocurrency fell below the $60,000 mark for the first time in almost two months. On Friday, May 3, the price of BTC recovered above the $60,000 level, going as high as $63,000 in the past day. However, the question is – can the Bitcoin price enjoy a sustained rally following this latest resurgence?…

CryptoQuant analysts have found that Bitcoin miners have increased their selling activity in the last month amid slow demand growth for BTC. According to the latest CryptoQuant weekly report, the decrease in BTC demand is evident in low Bitcoin whale demand, fewer purchases from spot exchange-traded funds in the United States, and the Coinbase premium falling below zero. Miners Increase Selling Activity Miners have sent a large amount of BTC to spot exchanges, creating an imbalance in the market. Since…

Bitcoin’s recent market correction that dragged the world’s largest cryptocurrency near the low of $56,500 turned out to be a good opportunity for high-profile investors. Data shared by CryptoQuant CEO Ki Young Ju revealed that whales have accumulated a whopping 47,000 BTC – worth more than $2.8 billion in current price – over the past 24 hours alone. This shopping spree signals the beginning of “a new era” for the primary cryptocurrency, according to the exec. Bitcoin whales increasing their…

The post Grayscale’s Bitcoin ETF Breaks Withdrawal Trend with $63M Inflow   appeared first on Coinpedia Fintech News Grayscale Bitcoin Trust (GBTC), the leading bitcoin ETF, recorded its first daily net inflow since January, adding $63 million on Friday, according to Farside Investors. It lost billions in assets since January and currently faces competition from BlackRock’s iShares Bitcoin Trust (IBIT). However, GBTC remains to be dominant as its assets now stand at  $18.1 billion compared to IBIT’s $16.9 billion. 

The post Bitcoin Price Surpasses The $63K Mark, Amid Increased Bullish Sentiment In The Crypto Industry! appeared first on Coinpedia Fintech News The crypto market leader, BTC price, has successfully reclaimed the $63,000 mark after recording a jump of 7.95%, from a low of $58,884 to a high of $63,566 and a 24-hour trading volume of $32,668,233,031 Billion. Furthermore, Grayscale has recorded its first inflow of $63 Million in the BitcoinETF since its launch hinting at a strong bullish price…

Solana is set to expand its ecosystem liquidity by bridging to the Bitcoin network. Slated for Q3 2024, the project will be facilitated by the Zeus Network. The Solana network is set to launch a cutting-edge cross-chain bridge meant to connect its ecosystem to Bitcoin by the third quarter of 2024. Solana Virtual Machine and Cross-Chain Integration The Solana-to-Bitcoin cross-chain bridge project, facilitated by the Zeus Network, will utilize the Zeus Program Library (ZPL). This is a suite of Solana…

Kenya’s government has invited Marathon Digital Holdings to discuss its energy needs and set up operations in the country, as per local reports. Despite the central bank’s efforts to discourage crypto investment, Kenya is one of Africa’s leading crypto markets and has regularly ranked first globally for peer-to-peer trading. Africa has continued to embrace cryptocurrencies, with several countries in the region defying Western approaches and adopting Bitcoin. The latest to push for adoption is Kenya, with the East African country…

Crypto expert Michaël van de Poppe has made a bullish case for Bitcoin as he alluded to macroeconomic factors that could soon play out in the flagship crypto’s favor. In line with this, he urged Bitcoin investors to take action with a parabolic surge on the horizon.  An Imminent Quantitative Easing Would Be Good For Bitcoin Van de Poppe suggested in an X (formerly Twitter) post that Bitcoin will rise on the back of a Quantitative Easing (QE), which he…

Bitcoin (BTC), the largest cryptocurrency in the market, has experienced a notable resurgence in its bullish momentum, with the Bitcoin price reclaiming the crucial $61,000 threshold.  This recovery follows a week-long downtrend that led to a 20% drop to $56,000 on Wednesday. As the bullish momentum returns, the possibility of further testing upper resistance levels and reclaiming previously lost price levels grows stronger. Bitcoin Bulls Eye $68,000 According to market expert Justin Bennett, a recovery of the $61,000 resistance level…