BTC

Bitcoin ETF outflows are on the rise once again after a change in the tide last week. These outflows, given the ETFs’ correlation with the Bitcoin price, have a substantial impact on how well the cryptocurrency performs over time. So, as outflows are ramping up, will it trigger a crash in the BTC price? ARK Invest And Grayscale Lead Outflows While Grayscale’s Spot Bitcoin ETF has been the natural culprit for ETF outflows due to its high fees, another fund…

Robert Kiyosaki, known for his advocacy of Bitcoin (BTC), gold, and silver, has revealed that he would acquire more BTC if the crypto asset’s value ever drops to $200, as American financial writer Harry Dent predicted. In a Tuesday tweet, Kiyosaki, the author of several financial books, including Rich Dad Poor Dad, said he hopes Dent’s prediction comes true, as such an occurrence would produce new multi-millionaires and possibly a few billionaires. Bitcoin to $200? Dent is known as the…

Bitcoin’s price has undergone a period of corrective retracements, recently witnessing a 9% drop towards the $64K level. However, the cryptocurrency is fortified by several robust support levels, potentially halting further downward pressure from market sellers. Technical Analysis By Shayan The Daily Chart A thorough examination of the daily chart reveals significant selling pressure on Bitcoin’s price after surpassing the critical $70K resistance, resulting in a notable rejection. This led to a 9% decline towards the critical $64K threshold. Currently,…

On April 2, industry analytics provider Glassnode reported that long-term holders have started distributing BTC and selling to new investors at higher prices. “This represents an injection of new capital into the asset class, driving the realized cap up to new heights,” it added. Realized cap is a measure of cumulative USD liquidity ‘stored’ in the asset class. As the #Bitcoin Spot Price consolidates below the new ATH of $73k, the Long-Term Holder cohort has entered their distribution phase, selling…

The crypto market is abuzz with speculation as the US government recently moved significantly regarding seized Bitcoin (BTC) linked to the infamous Silk Road dark web marketplace. This development comes at a critical time for the Bitcoin price, which has struggled to maintain its position above the $70,000 threshold after hitting its current all-time high (ATH) of $73,700 on March 14.  As the largest cryptocurrency experiences yet another round of price correction, the movement of these seized funds has triggered…

Data shows “buy the dip” calls for Bitcoin have spiked around social media following the plummet the asset has seen below the $66,000 level. Bitcoin Social Volume For Terms Related To Buy The Dip Has Shot Up According to data from the analytics firm Santiment, Bitcoin investors have more heavily reacted with bullish calls than bearish ones despite the sharp decline the asset has observed. The indicator of relevance here is the “Social Volume,” which tells us about the amount…

The US government transferred 30,175 Bitcoin (BTC) to a wallet recognized as part of the crypto exchange Coinbase. This move represents a substantial $2 billion, calculated at the prevailing Bitcoin price of approximately $65,000 per BTC. US Government Moves $2 Billion in Bitcoin This action follows the US government’s previous engagement with the cryptocurrency market. In March 2023, the government auctioned 9,861 BTC, netting $216 million. The government seized these coins as part of a larger cache from the infamous…

The digital asset markets expanded substantially over the first quarter of 2024, catalyzed by an end to the decade-long effort to introduce spot Bitcoin ETFs in the US. While Q1 was a turning point in many ways, Q2 kicked off on a turbulent note. Bitcoin’s plunge below $65K and the substantial decline in altcoins’ market caps is a concerning retracement as April unfolds. Despite this downturn, the crowd sentiment remains resilient. Crowd Confidence According to Santiment’s latest analysis, the crowd…

Long and short-term Bitcoin (BTC) holders have continued engaging in strategic profit-taking following BTC’s ascent to a new all-time high of $73,800. Bitfinex analysts believe BTC is likely to consolidate within a range, as long-term holders are offloading previously dormant supply. According to the latest edition of the Bitfinex Alpha report, long-term holders’ reactivation of old BTC supply underscores the cyclical nature of the crypto market. It also reflects patterns of distribution and accumulation among investors. Investors Engage in Strategic…