Bitcoin

The post Bitcoin May Drop to $54,000 as Mt. Gox Moves $860 mln in BTC appeared first on Coinpedia Fintech News On August 21, 2024, the defunct and oldest crypto exchange, Mt. Gox, moved a significant over 14,530 Bitcoin (BTC) worth $860 million in the last 24 hours, as the on-chain analytic firm Spotonchain reported. Following these transactions, the overall cryptocurrency market experienced massive selling pressure. Mt. Gox $860 Million BTC Transfer With the recent transfer, Mt. Gox now holds…

The post Top Analyst Says Bitcoin Avoided Major Breakdown Despite Liquidations; Outlines Path to $50K appeared first on Coinpedia Fintech News Bitcoin is once again encountering resistance at a crucial level. Despite this, the price is maintaining its support on shorter timeframes, specifically the 2-hour chart, where Bitcoin has managed to hold above a key support level. This support has prevented a major breakdown, even after the market saw significant liquidations.  According to analyst Josh of Crypto World, the 4-day…

The cryptocurrency market is experiencing renewed bullish momentum after a period of stagnation. Over the past week, Bitcoin has shown resilience, hovering around $58K with minimal volatility.  However, the leading cryptocurrency recently broke out, reaching a daily high of $61,400 on Tuesday. This marks a 6.1% increase from the day’s low of $57,864.  Tether’s Latest $1B Liquidity Fuels Bitcoin’s Rally This bullish market sentiment follows Tuesday's recent minting of a massive $1 billion USDT stablecoin by the Tether Treasury. This…

The post Bitcoin on the Brink: Will U.S. Jobs Report Trigger a Bear Crash or a Bull Rally? appeared first on Coinpedia Fintech News Major cryptocurrencies fell on Wednesday as the market prepared for the upcoming U.S. jobs report and anticipated speeches from policymakers likely to advocate for interest rate cuts. However, Bitcoin’s price dropped by 2%, trading at $59,456, which has investors worried as it hovers near important support levels. As the market awaits more details, the big question…

Bitcoin has certain on-chain resistance levels coming up that could threaten future rallies. Here are the exact prices at which they lie. Bitcoin Short-Term Holders Have Their Cost Basis At These Levels Ahead As explained by CryptoQuant author Axel Adler Jr in a new post on X, the BTC short-term holders currently have their cost basis levels between $62,000 and $65,000. The on-chain relevance metric here is the “Realized Price,” which keeps track of the average acquisition price on the…

According to market expert Jamie Coutts, after an extended period of consolidation and lackluster performance by the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), the market may be poised for a resurgence. Coutts believes the ingredients are in place for a broad altcoin rally, following in the footsteps of the “insane” bull run of 2020-2021. Altcoin Revival On The Horizon?  The key catalyst, Coutts says, is the influx of global liquidity that is starting to accelerate. He notes that…

Digital asset investment funds witnessed another week of inflows last week, albeit at a small amount, to extend the run of inflows to two consecutive weeks. Notably, investment funds attracted a net inflow of $30 million last week. One of the key highlights of the week was Bitcoin’s strong performance in attracting investor interest. After being overshadowed by Ethereum in the previous week, Bitcoin regained its leading position, drawing the majority of the inflows. Solana, on the other hand, experienced…

The world’s largest cryptocurrency, Bitcoin (BTC), has struggled to maintain a foothold above the critical $60,000 price level in recent trading sessions, as the digital asset finds itself caught in a tug-of-war between bullish and bearish forces. After recovering from a dip below $49,000 earlier this month, Bitcoin has been vacillating around the $60,000 mark, unable to consolidate above this key psychological and technical threshold.  This price level has emerged as a battlefield between the bulls and bears, with the…

The Bitcoin price is continuing its meandering, sideways path, while sustaining itself above the critical $58,000 level. That said, a pivotal point is approaching, where the winner between the bulls and the bears will decide the direction of the next big Bitcoin move. The most unlikely scenario for Bitcoin Bitcoin is 161 days into this grinding sideways consolidation period that started when the $BTC price hit the all-time high of $73,800 back in March. The next possible scenario is either…