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The post Markets Tear Down the Longs Who Aped Above $63,000; Here’s Where the Bitcoin (BTC) Price May Head Next appeared first on Coinpedia Fintech News The crypto markets are down by over 3% as the bears managed to trap the bulls after pretending to be inactive for a couple of days. Besides, the Bitcoin (BTC) price has also plunged by over 3.7%, marking interim lows at $60,487 from the highs slightly above $61,000. The market dynamics appear to have…

Market charts and metrics are essential analytical tools in the arsenal of savvy investors and market experts trying to understand what happens next. They help investors and analysts understand the market at a glance. Once again, investors have used these tools to analyze the future potential of Bitgert, an innovative powerhouse in the market. With historical data and charts, analysts can now tell which side of the market Bitgert would swing.  Would Bitgert witness a significant upswing after a 2-day…

Decentralized and open-source computing platform Akash Network has captured significant attention in the cryptocurrency market as its native token, AKT, has outperformed the top 100 cryptocurrencies with a 2400% price increase year-to-date.  While Bitcoin (BTC) and other major cryptocurrencies experience price corrections, the Akash Network and its native token are surging at a remarkable pace. To comprehend the driving factors behind this uptrend, it is crucial to delve deeper into what the Akash Network represents and its underlying technology. What…

Bitcoin might have posted the deepest correction since the FTX crash in November 2022, dipping over 20% from its all-time high of around $74,000. However, Glassnode analysts, while sharing their preview on X, remain cautiously optimistic.  Bitcoin Drops 20% From March High, But Glassnode Is Bullish Glassnode notes that the Bitcoin “macro uptrend still appears to be one of the more resilient in history” and that though corrections have been made, they are relatively shallow. With this position, the blockchain analytics platform…

Rekt Capital a popular cryptocurrency expert has set aside the potential timeline that Bitcoin, the largest crypto asset is expected to peak in the ongoing bull cycle, citing historical price trends. Rekt Capital’s analysis examines the current price action of Bitcoin and how it aligns with previous bull cycle peaks following the Bitcoin Halving event. Bitcoin Peak On The Horizon Today, May 9, BTC’s price witnessed a drop below the $61,000 price level, demonstrating a potential move on the downside.…

The post Ark Invest Offloads $15 Billion Worth Coinbase Shares Pulling Down COIN’s Price appeared first on Coinpedia Fintech News Cathir Wood’s Ark Invest sold $15 billion worth of 70,600 Coinbase shares which has sparked speculations over its impact. Cathie Wood clarified it as not a case of dumping, but active portfolio management and emphasized that Coinbase remains a top position in Ark Invest’s holdings indicating confidence in the company’s long-term prospects. Woods also mentioned plans to reinvest profits into…

Cardano (ADA), the third-generation blockchain platform, has been mirroring a mountain climber clinging to a precarious ledge. After a brief ascent earlier this month, the price has dipped back down, leaving investors questioning the strength of the current uptick. While a recent surge in active addresses hints at renewed interest, technical indicators and declining trading volume paint a picture of an uncertain future. Cardano At A Crossroads Cardano’s current price action presents a complex picture. The recent uptick offers a…

Blockchain analytics company Elliptic said that its researchers have made progress in leveraging artificial intelligence (AI) to detect money laundering in Bitcoin. A recent paper detailing this research was co-authored with researchers from the MIT-IBM Watson AI Lab. Elliptic revealed a successful identification of illicit proceeds deposited at a cryptocurrency exchange, new patterns of money laundering transactions, and previously unidentified illegal wallets upon utilizing a deep learning model. The firm said that findings are already being used to improve its…

CryptoQuant analysts have found that Bitcoin miners have increased their selling activity in the last month amid slow demand growth for BTC. According to the latest CryptoQuant weekly report, the decrease in BTC demand is evident in low Bitcoin whale demand, fewer purchases from spot exchange-traded funds in the United States, and the Coinbase premium falling below zero. Miners Increase Selling Activity Miners have sent a large amount of BTC to spot exchanges, creating an imbalance in the market. Since…