Bitcoin

On Wednesday, the crypto market experienced a wave of volatility as news broke that the US government had transferred a significant amount of Bitcoin seized from the infamous Silk Road marketplace to the Coinbase exchange. Massive Silk Road Bitcoin Influx To Coinbase According to on-chain data tracker Arkham, the US government recently moved 10,000 Bitcoin worth around $590 million from a known government wallet to a Coinbase Prime deposit address.  Notably, this transfer sparked a 3.3% dip in the Bitcoin…

Bitcoin (BTC) has recently faced some turbulence, with its price dipping below a key trendline and potentially heading towards a correction that could see it fall to $55,000. Analysts are closely watching for this potential dip, which could precede a stronger recovery later in the year. Despite these short-term fluctuations, Bitcoin remains on a trajectory that could lead to significant gains if it stabilizes and moves back above crucial support levels. In contrast, MoonTaurus (MNTR) is garnering attention for its…

Bitcoin has not been in the $20,000 range going on two years now and some believe that the pioneer cryptocurrency will never revisit this level again. However, according to one analyst, the Bitcoin price falling back to $20,000 is a matter of when, not if. While they do not expect that this crash will happen anytime soon, they have warned that the possibility should not be ruled out at this point. Bitcoin Price Could Go For $20,000 Crypto analyst “Without…

The Consumer Price Index for July came below expectations, giving the Federal Reserve the green light to cut interest rates in September.  The headline CPI inflation came in at 2.9%, below the expected 3.0%. Meanwhile, core CPI came in at 3.2%, in line with the market expectations.    ? Just In: July US CPI annual inflation rises 2.9%, below expectations for 3.0%.Core CPI inflation increased 3.2% Y/Y, matching forecasts for a gain of 3.2%.The Fed has a green light to…

Bitcoin (BTC) price holds above $61,000 as US CPI inflation data falls to 2.9% in July, lower than expectations. CPI data measures price increases in consumer goods and services. After running stale for most of 2023, the influence of US macroeconomic data on Bitcoin and crypto markets is resuming. CPI At 2.9%, Falls Lower Than Expectations The US Bureau of Labor Statistics (BLS) released July’s Consumer Price Index (CPI) inflation data, which came in at 2.9%. This is also lower than…

Goldman Sachs and DRW Capital have revealed over $600 million in combined holdings across spot Bitcoin and Ethereum exchange-traded funds (ETFs). These disclosures, made in recent 13F filings with the US Securities and Exchange Commission (SEC), highlight the growing institutional interest in digital assets. Institutional Giants Drive Bitcoin ETF Growth, Signaling Long-Term Confidence Goldman Sachs reported positions in seven of the 11 available Bitcoin ETFs in the US, totaling nearly $410 million. It has the largest stake in the iShares…

The Bitcoin (BTC) price has broken free from its recent consolidation phase, breaching the $60,000 mark and setting its sights on critical resistance levels essential for propelling the cryptocurrency to new all-time highs (ATHs). This surge comes amid emerging bullish momentum in the world’s largest digital asset. However, the key to continuing this breakout is the influential role of Tether (USDT), the largest stablecoin in the crypto ecosystem. USDT Minting Could Propel Bitcoin Beyond $73,700?  According to technical analysts, such…

An on-chain analyst has explained why the Bitcoin spot exchange-traded funds (ETFs), although important, may be something other than the drivers in the market. Bitcoin Spot ETFs Compared With Other Capital Flows On The Network In a new post on X, on-chain analyst Checkmate has discussed how the different capital flows in and out of Bitcoin stack up against each other. The first netflow of interest is naturally the total capital netflow itself. This netflow is calculated using the Realized…

As historically proven, the start of an altcoin season, or ‘altseason,’ a period marked by the strong performance of alternative cryptocurrencies relative to Bitcoin, often begins following a significant increase in BTC’s price. This phenomenon has been elaborated recently by Arthur Hayes, the co-founder of BitMEX and Chief Investment Officer at Maelstrom Fund, who has now shared the specific time when the alt season for this cycle could begin. Bitcoin And Ethereum: Key Price Targets To Kickstart Altcoin Season In…