Bitcoin difficulty hits its highest point in over a year: What should miners expect?
Bitcoin mining difficulty recently reached close to 40.0T. The rise in network difficulty comes as price and hashrate saw a rise. The remarkable ascent of Bitcoin [BTC] has been a topic of critical importance in the broader cryptocurrency community. Not surprisingly, the price increase seen by other coins and tokens followed the king coin’s price […]
BRICS challenges U.S. dollar, can it have an impact on Bitcoin as well?
Bitcoin may be thrust into unchartered territory as BRICS challenges the U.S. dollar. Assessing the potential outcome for Bitcoin if BRICS succeeds. An interesting thing is happening in the global arena and it might just be one of the major factors that may influence Bitcoin demand later this year. A battle is being waged against […]
Bitcoin’s [BTC] price reversal might be on the cards?
BTC’s price has rallied by 40% since 1 January. Investors have recorded significant gains, and now, a price reversal might follow. Exchanging hands at the $23,200 price mark at press time, the leading coin Bitcoin [BTC], currently trades at levels last seen in August 2022. On a year-to-date basis, BTC’s price has rallied by 40%, […]
Bitcoin: Euphoria ravages the market; bullish trend remains strong
BTC’s social dominance has grown tremendously since the year began. Its price might increase even more as bullish sentiment lingers in the market. The growth in the general cryptocurrency market since the commencement of the 2023 trading year has led to a rally in Bitcoin’s [BTC] dominance in the market. At 44.18% at press time, […]
Bitcoin net position change hits new monthly low; potential volatility ahead?
Bitcoin may regain some volatility to end the month as options expire. Exchange reserves drop to a monthly low but some whales are still cashing out. There are only a few days remaining until the month ends but this might be enough time for a major Bitcoin move. It has been losing volatility in the […]
Bitcoin moves above short-term bull flag- Will $26k be the next target?
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The daily timeframe structure was strongly bullish. A dip below $22.2k will break the lower timeframe bias. Bitcoin rallied hard throughout January and has posted gains of 44.3% from the swing low to the swing […]
Is Bitcoin in early bull phase? Refer to these metrics for an answer
Bitcoin entered the early stages of a bull phase, as per CryptoQuant’s data. A decline in Bitcoin returns compared to other cycles was observed. Bitcoin has entered the early stages of a bull phase, according to recent data provided by CryptoQuant. Now, you might ask for a more detailed explanation. Well, for that purpose, consider […]
Decoding key reasons behind Bitcoin’s [BTC] January price rally
Identical BTC transactions on 5 January might have kickstarted the current rally. BTC flirts with the $23,000 region as it attempts to form a new support line. Recently, the price of Bitcoin (BTC) rose, affecting the entire crypto market. The bulls’ swing started the current run that the coin is now seeing. According to recent […]
Bitcoin [BTC] forms a near-term bull flag; bids can be placed at…
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The bull flag indicated $24.2k as a target. The presence of a bullish breaker offered greater support to BTC. Bitcoin [BTC] noted impressive gains in January 2023. During Christmas 2022 and New Year 2023, Bitcoin […]
Analyzing retail investors’ growing faith in Bitcoin [BTC] as prices soar
Retail investors’ interest in Bitcoin increased. Increase in profitability and potential for increased selling pressure for BTC. Since the Terra Luna [LUNC] collapse, the number of Bitcoin [BTC] retail investors continued to rise and stood at 17.1% of the total circulating supply at press time, according to Glassnode. Read Bitcoin’s [BTC] Price Prediction 2023-2024 This […]
BTC’s hashrate leads to rising tensions- Is mining industry at a crossroads?
Bitcoin hashrate is at an all-time high, and competition for block rewards is fierce. Miners’ revenue has declined, and the selling pressure may increase anytime soon. Bitcoin’s hashrate reached a new all-time high recently. This increase in hashrate meant that more miners are participating to keep the network secured and more decentralized. However, it also meant […]
Bitcoin’s RPV ratio reveals if BTC bull run is in jeopardy?
RPV ratio suggests a decrease in enthusiasm for the Bitcoin bull run. Trader sentiment remains positive and volume, velocity, and exchange reserves all show market strength. According to data provided by glassnode, Bitcoin‘s RPV, or Profits-to-Value Ratio, declined significantly over the last few days. This ratio compares profit-taking in the market against the network valuation […]
Bitcoin holders are avoiding leverage in the latest rally, here’s why
Low demand for leverage gives insights into the current Bitcoin investor psychology. BTC enjoys demand in the derivatives market courtesy of a strong recovery in open interest. Glassnode alerts just revealed that the amount of HODLed or lost Bitcoin is now at a 5-year high. This reflects the positive price action that the cryptocurrency has […]
Why Bitcoin investors are on edge following Genesis’ bankruptcy announcement
Genesis’ bankruptcy filing revived concerns of a potential Bitcoin selloff. However, bulls charged through the FUD and passed the $22,000 price level. Genesis reportedly filed for Chapter 11 bankruptcy after failing to secure enough funds to cover its debt. The company, which was one of the largest institutional lenders at one point, has the potential to […]
Bitcoin [BTC] investors embrace risk-on approach, but beware of hidden risks
Bitcoin investor appetite has resumed, according to multiple indicators. However, there is still a risk for BTC’s downside. As per a CryptoQuant analysis on 19 January, multiple signals were determining the start of Bitcoin’s [BTC] next bull run at press time. One of the biggest observations was that BTC’s holders shifted their coins from the […]
Bitcoin on a bullish streak in January 2023: All that’s positive for the king coin so far
Bitcoin may shortly match its historic 15-day winning streak if its upward price trend persisted. Around the $21,450 and $21,500 levels, Bitcoin appeared to come up against a significant obstacle. If its upward price trend continues, the first cryptocurrency in the world, Bitcoin [BTC], will soon match its historic 15-day winning run. The longest price […]
Bitcoin: With these holders joining the BTC buy party, traders can expect that…
Various addresses were accumulating BTC, thus, indicating broad-based interest Miner outflow witnessed an increase, thus indicating growing sell pressure Based on data from Santiment, addresses of various sizes were accumulating Bitcoin [BTC] over the last few weeks. This accumulation could have played a role in the recent BTC rally. The accumulation also indicated that not […]
Bitcoin [BTC] price breaks short resistance, drives 13% of supply into profit
Whales’ transaction count for BTC has been on the increase in recent days. 13% of BTC circulating supply is in profit due to a current price move. The price of Bitcoin [BTC] rose over the past five days from 8 January to 12 January. When the market closed on 12 January, the price had increased […]
Bitcoin: U.S. Inflation, debt crisis, and more might threaten BTC’s 2023
Bitcoin is in the accumulation zone according to the BTC pricing model. Demand for BTC experiences a recovery as hopes for a recovery bloom. Bitcoin [BTC] investors are going through renewed hope for a long-term recovery. As such, it is important to juxtapose those expectations with an economic outlook. Perhaps this might help gauge whether […]
BTC pushes toward the highs of a two-month range, will the bulls be repelled?
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Bitcoin has crept upward to a two-month range high, and a reversal was more likely than a breakout A move higher to $20k and above needs $17.8k flipped to support Throughout January, the USDT Dominance […]