Bitcoin

On October 4, US spot Bitcoin exchange-traded funds (ETFs) recorded their first inflow of the month, rebounding from outflows totaling $400 million in the initial three trading days. This uptick coincides with the release of a significant upgrade to Bitcoin Core, the open-source software that underpins the leading cryptocurrency. Bitcoin ETF Sees First Inflow in October According to SoSoValue data, Bitwise’s Bitcoin ETF (BITB) led the inflows with a positive net flow of $15.3 million, followed by Fidelity’s FBTC with…

The price of Bitcoin has not had the most straightforward performance in 2024 despite a strong start to the year. The flagship cryptocurrency has spent most of the last two quarters in consolidation, fluctuating within the $50,000 and $70,000 range. This uninspiring performance has sparked conversations about the current cycle, with several analysts and experts predicting whether the bull run is still on. Amongst the latest to comment is the CryptoQuant CEO, who offered an interesting on-chain insight into the…

Ki Young Ju, the founder of the on-chain analytics platform CryptoQuant, revealed that Bitcoin whales are currently moving out of character in terms of profit-taking. These whales likely believe that the bull is far from over, which is why they haven’t secured as much profit as they have done in previous bull runs.  Bitcoin Whales Have Taken Lesser Profits In This Market Cycle Than Past Ones Ki Young Ju mentioned in an X post that if the Bitcoin bull cycle…

As 2024 comes to an end, the momentum in the crypto market is changing leading up to 2025. New coins are rising fast, meme coins are booming as stable coins hit a record high. But OG coins like Bitcoin still hold its ground.  Here, we look at Bitcoin price action and the profit potential of the trending BEFE meme coin. Bitcoin: The Old Guard The whole cryptocurrency movement started with Bitcoin. This was the first digital currency that didn't need…

The International Monetary Fund (IMF) has suggested that El Salvador reduce government support for Bitcoin. This is a far more conciliatory attitude than previous attempts to repeal the nation’s Bitcoin law. Nevertheless, President Nayib Bukele seems committed to Bitcoinization. Bitcoin and El Salvador According to a recent report from Forbes, the International Monetary Fund (IMF) is trying a new tactic with El Salvador: if it won’t repeal Bitcoin’s status as a legal currency, it should reduce Bitcoin’s legal support. The…

A CryptoQuant analyst known as “caueconomy” recently published a post indicating that Bitcoin (BTC) may have reached a local bottom. The analyst points to a significant liquidation event as a key sign that a short-term recovery could be on the horizon. Although caueconomy acknowledged that Bitcoin has been going through a period marked by bearish price sentiment and technical indicators suggesting potential further decline, the analyst also highlighted that emerging signs may indicate a stabilization in the asset’s price. How Is BTC…

Bitcoin has yet to rally in October, with many bullish proponents awaiting the resumption of an uptrend. Among those closely monitoring the price action in anticipation of an uptrend is a well-known analyst on the social media platform X. This analyst, who goes by the name Ash Crypto, recently highlighted a striking similarity between Bitcoin’s current price behavior and a notable pattern observed earlier in 2023. Ash Crypto pointed to Bitcoin’s decline in early October 2023, which ultimately reversed into…

A CryptoQuant analyst using the pseudonym “tugbachain” has recently shed light on a key trend within the Bitcoin market. Posting on the CryptoQuant QuickTake platform, the analyst focused on the Market Value to Realized Value (MVRV) ratio, an important metric in the Bitcoin market. According to tugbachain, the MVRV ratio shows a historical downward trend. Should this trend continue or get breached, it may lead to a major impact on Bitcoin. MVRV Ratio And Its Impending Impact On Bitcoin The…

Following a volatile week, Bitcoin (BTC) has once again captured the attention of investors as it fluctuates between bearish and bullish sentiments. Earlier this week, the leading cryptocurrency retracted to the $59,800 mark after reaching a two-month high of $66,500 at the end of the previous week. Despite these fluctuations, analysts express confidence that Bitcoin could reach new records by year’s end. Could Bitcoin Prices Rise As Year-End Approaches? As noted in a recent CNBC report, a recent resurgence in…