Bitcoin

Data shows that the positive sentiment around Bitcoin has spiked on social media after BTC’s return above $58,000, implying investors may feel FOMO. Bitcoin Positive Vs. Negative Sentiment Ratio Has Spiked Recently According to data from the analytics firm Santiment, the crowd has recently shown a sudden burst of optimism around Bitcoin. The indicator of relevance here is the “Positive Sentiment vs. Negative Sentiment Ratio,” which, as its name suggests, keeps track of the ratio between the positive and negative…

Although Bitcoin (BTC) on-chain health remains net positive, from a price perspective two crucial support levels must be maintained for a continued bullish uptrend, notes ARK Invest in its latest monthly report. Bitcoin’s Healthy On-Chain Metrics, What Does It Mean? In its report, ARK Invest posits that Bitcoin requires some upside if its market structure is to be maintained. The report notes that in August 2024, BTC’s price slid by 8.7% to $58,972. The leading digital asset was also unable…

BlackRock, the prominent American multinational investment management corporation, has once again emphasized the enduring belief surrounding the Bitcoin potential as a strategic asset. In a recent statement, the firm reiterated a school of thought that has been gaining momentum within the financial world for years. According to the investment company, BTC is a good tool for hedging against increasing global disorder, which might arise from growing distrust in governments, banks, and fiat currencies. Reflecting on this perspective, renowned cryptocurrency analyst…

MicroStrategy has made a remarkable financial maneuver by converting $1.1 billion worth of its shares into 18,300 Bitcoin (BTC). The latest Form 8-K filings with the U.S. Securities and Exchange Commission (SEC) confirmed this purchase. It took place between August 6, 2024, and September 12, 2024. MicroStrategy Inject Billions Into Acquiring Bitcoin Consequently, MicroStrategy’s total Bitcoin holdings have increased to about 244,800, acquired at an average price of $38,585 per Bitcoin. Following a strategic plan, the company announced on August…

On-chain data shows the Bitcoin Puell Multiple has recently declined into the historical bottom zone as BTC’s continued consolidation. Bitcoin Puell Multiple Is Now Under The 0.4 Level As an analyst in a CryptoQuant Quicktake post explained, the BTC Puell Multiple has declined under 0.4 for the first time since the end of 2022. The “Puell Multiple” here refers to a popular on-chain indicator that keeps track of the ratio between the daily Bitcoin miner revenue and the 365-day moving average (MA)…

Recent analysis from CryptoQuant highlights that Bitcoin price may soon undergo a significant move, according to an indicator known as the Coinbase Premium. A CryptoQuant analyst under the pseudonym ‘Avocado Onchain’ noted earlier today that the Coinbase Premium, which measures the price gap between Bitcoin on Coinbase and Binance, is showing signs of convergence. The narrowing of this premium suggests that Bitcoin’s price is approaching its fair value, leading many to believe that a decisive move is imminent. How Does…

For most investors, 2011 was the era when Bitcoin (BTC) and the rest of the crypto subculture were still new. Entrepreneurs tended to ridicule cryptocurrencies, it was a small market that few paid any serious attention to as a possible investment opportunity. One such person, who was an early Bitcoin user, rather regretted investing $500 in Bitcoin then since it was worth only $27. Let us now jump to the year 2024, that small investment is now counted in millions.…

Gold has just broken out to a new all-time high of $2,570, while silver has just hit $30. Could Bitcoin now follow? The traditional hedges when the economy is sliding have always been gold and silver. This has remained true even today. Ill winds are blowing for world economies, as spending continues to be out of control and globalism retreats. Bullish breakout for gold Source: TradingView The weekly chart for gold shows that a very bullish breakout has just taken…

Analysts have raised Bitcoin’s price target to $112,000 following a spike in exchange-traded fund (ETF) inflows. This increased activity suggests bullish sentiment among institutional investors, potentially driving the cryptocurrency to new highs. Bitcoin ETF Inflows to Trigger Price Boost SpotOnChain analysts reported significant inflows into Bitcoin ETFs. Bitcoin’s net flow turned positive, with $39 million in inflows, reversing previous weak volumes. In contrast, Ethereum ETFs saw net outflows for the second consecutive day, with Grayscale’s ETHE experiencing a $20 million…