Bitcoin

Bitcoin (BTC) slipped below $61,000 earlier today and is down almost 3% over the past 24 hours as it struggles to maintain its position above $60,000. According to analytics firm Santiment, the crypto market has turned bearish, which has impacted several assets, including BTC, Ethereum (ETH), Solana (SOL), and Ripple (XRP).  Analysts had warned that short-term BTC holders could be tested if BTC slips below $61,000. BTC has been trading in a narrow price range, with its low levels of…

Nerves are jangling once again among Bitcoin investors as $BTC plummets $4,200 over the last 3 days. Price is holding above $60,000 currently. Can this continue to hold? Will there be one more flush out before $BTC heads higher again? Bitcoin investors given quite a ride The unrelenting shocks to the Bitcoin price are very likely shaking out any weaker hands that were still clinging desperately to their positions. Very much like a bucking bronco, Bitcoin is taking investors through…

The recent Bitcoin price action appears to have caught the attention of market analysts, with a particular focus on its positioning between key psychological levels. A CryptoQuant analyst under the pseudonym “datascope” recently posted on the CryptoQuant QuickTake platform, providing an in-depth analysis of Bitcoin’s current price movements. The analyst highlighted that Bitcoin is at a critical psychological turning point, where market sentiment could shift towards optimism or pessimism based on its trajectory. Bitcoin Historical Patterns Suggest Optimism Could Persist…

Bitcoin’s exchange-traded funds (ETFs) are once again generating headlines due to an extraordinary increase in inflows. An investment of $235.2 million in Bitcoin ETFs occurred on October 8, indicating a substantial increase in investor appetite. This surge, based on data from Farside Investors, follows a relatively uneventful beginning to the month, but it indicates a resurgence in investor confidence in the cryptocurrency market. Fidelity And BlackRock Lead The Way This was led by Fidelity’s Bitcoin ETF (FBTC) with a $103.7…

Bitcoin price extended losses and traded below the $61,850 zone. BTC is now holding the $60,000 support, but it remains at risk. Bitcoin is struggling to start a fresh increase above $62,850 zone. The price is trading below $62,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $61,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bearish momentum if there is a…

Crypto analyst James has compared Dogecoin (DOGE) and Bitcoin (BTC) and provided insights into what to expect from these major cryptocurrencies in this market cycle. Based on his analysis, the foremost meme coin will likely outperform the flagship cryptocurrency in this bull run.   What To Expect From Dogecoin And Bitcoin In This Cycle James suggested in an X post that Dogecoin will likely outperform Bitcoin in this market cycle. The analyst noted that since Dogecoin’s launch in 2013, the foremost…

The Bitcoin price is still recovering from a major dip to $60,000 in the first three days of October. As the bulls and long-term holders continue to capitalize on the dip, analysis of on-chain data has revealed that the selling pressure has been eased massively as the majority of short-term holders have exited the market. Interestingly, these short-term holders are accountable for the drop to $60,000, as the data shows many of them exiting the market during the initial decline,…

The CEO of the on-chain analytics firm CryptoQuant has explained how the Bitcoin whales have been showing a shift in their Realized Cap recently. New Bitcoin Whales Are About To Overtake Old Ones In a new post on X, CryptoQuant CEO Ki Young Ju has discussed the recent trend in the Realized Caps of the new and old Bitcoin whales. The “Realized Cap” here is a model that calculates the total valuation of Bitcoin by assuming that each coin’s ‘true’…

According to Goldman Sachs, Bitcoin (BTC) price appreciation in 2024 failed to compensate for its price volatility risks. Meanwhile, gold’s higher risk-adjusted returns reaffirmed its “safe haven” narrative. Despite The Gains, Bitcoin Fails To Outshine Gold The leading digital asset by reported market cap surged from roughly $42,000 at the beginning of the year to as high as $73,000 in March 2024, recording more than 73% gains. At its current market price of $62,790, BTC is still more than 40%…