Everything you need to know about the current state of the Bitcoin rally

Bitcoin’s [BTC] realized cap goes sky-high while another key metric plunges

As Bitcoin's realized cap reaches $389.4 billion, a cyclical growth pattern emerges, with diminishing returns across epochs and an ongoing bearish trend in the market.

NFT Sales Surge 31% This Week as Bitcoin NFTs Secure Second Place in Blockchain Sales

Non-fungible token (NFT) sales witnessed a minor rise last week, registering a humble increase of around 1.46% compared to the preceding week. The cumulative value of NFT sales amounted to $149.31 million from April 29 to May 6, 2023. Nevertheless, the most recent week exceeded anticipations, as sales skyrocketed by 31.22%. Throughout the seven-day interval, […]

Rhodium allegedly responsible for $26m in unpaid fees

Riot Platforms is suing Rhodium Enterprises for over $26m in unpaid mining fees. Riot also seeks permission to terminate "certain hosting agreements" with Rhodium.

Gold’s Disparity to Beat Bitcoin is Regaining Fuel – Bloomberg’s Mike McGlone | Coingape

Mike McGlone, Bloomberg Intelligence’s Senior Commodity Strategist claims that the recent trend in which the price of gold has been increasing relative to the price of Bitcoin is significant and could continue for some time. He stated that the Bitcoin rollover risks lean toward deflation. According to Bloomberg data, the price of gold was up The post Gold’s Disparity to Beat Bitcoin is Regaining Fuel – Bloomberg’s Mike McGlone appeared first on CoinGape.

Bitcoin price hits $27.2K, but new analysis warns more losses 'likely'

Bitcoin may be up 7.5% since Friday, but BTC price action is not giving everyone cause for positivity. Bitcoin (BTC) sought to recover $27,000 into the May 14 weekly close as volatility picked up out of hours.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price gains over 7% in two daysData from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $27,200 on Bitstamp.Its highest in several days, the performance reflected gains of around 7.5% ver

US Senators Keeping Tabs on El Salvador Bitcoin (BTC) Adoption in Reintroduced Bill: Report

US Senators are reportedly reintroducing a bill that would allow them to track and monitor the developments related to El Salvador’s adoption of Bitcoin (BTC). According to a new report by the Washington Examiner, Senators Bob Menendez, a Democrat from New Jersey, and Jim Risch, a Republican from Idaho, have announced the Accountability for Cryptocurrency […] The post US Senators Keeping Tabs on El Salvador Bitcoin (BTC) Adoption in Reintroduced Bill: Report appeared first on The Daily Hodl.

How will USDT’s growth impact Bitcoin [BTC]? According to this data….

BTC could see green as USDT's firm Tether continues to invest in Bitcoin. Holders stay positive about BTC but miners turn skeptical.

Bitcoin’s recovery may trigger buying in these 4 altcoins

While most coins are reeling under pressure, Bitcoin and select altcoins such as ADA, ATOM, LDO, and ARB are showing promise. The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment.A silver lining is Bitcoin’s solid bounce on May 12. Several analysts anticipate Bitcoin to start a recovery but

Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion

In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently, 184 blocks need to be cleared to […]

Glassnode Co-Founders Say They’re Confident of Explosive Bitcoin Move, Predicts Fed Rate Hike Pause in a Month

The creators of one of the top on-chain analytics firms in the crypto space believe that Bitcoin (BTC) is gearing up for an explosive move to the upside. Jan Happel and Yann Allemann say that Bitcoin is likely poised to break above the key resistance area at $30,000. According to the Glassnode co-founders, the macro […] The post Glassnode Co-Founders Say They’re Confident of Explosive Bitcoin Move, Predicts Fed Rate Hike Pause in a Month appeared first on The Daily Hodl.

I probed ChatGPT about Bitcoin, the chatbot was super optimistic about the coin’s future

ChatGPT says Bitcoin's price is going to skyrocket soon and that it's going to reach levels never seen before.

4 alarming charts for Bitcoin bulls as $27K becomes formidable hurdle

The price of Bitcoin can fall to $15,000 in 2023 if its strengthening correlation with certain macro charts is any indication. Bitcoin (BTC) has rallied nearly 60% to around $27,000 in 2023 amid anticipations that the Federal Reserve would pause its quantitative tightening amid the U.S. banking crisis. Still, BTC price has failed to move beyond $30,000 decisively.Buying exhaustion at this key psychological level led to a price correction toward $25,000 over the past week. Int

Demand Pressure at Key Support Hints Bitcoin Price to Rise 7% in Coming Week; Enter Now? | Coingape

Amid the increasing supply pressure in the market, the Bitcoin price showed a decisive breakdown attempt from the monthly support of $27000-$26786 on May 12th. However, by the end of the day, the buyers undermined nearly the entire selling pressure and pushed the prices up with a long tail formation. This rejection candle indicates the The post Demand Pressure at Key Support Hints Bitcoin Price to Rise 7% in Coming Week; Enter Now? appeared first on CoinGape.

Strategist At $4,500,000,000,000 Fund Warns Sudden Interest Rate Drop Could Crush Dollar, Boost Bitcoin and Gold

Fidelity macro expert Jurrien Timmer says that a Fed pivot back to lower interest rates could ignite fresh bull markets for gold and Bitcoin (BTC). Timmer points out to his 162,000 Twitter followers that gold and Bitcoin have outperformed virtually all other financial assets so far this year. He says an economic scenario could develop […] The post Strategist At $4,500,000,000,000 Fund Warns Sudden Interest Rate Drop Could Crush Dollar, Boost Bitcoin and Gold appeared first on The Daily Hodl.

Top Analyst Issues Bitcoin Alert, Says BTC Could Witness 2015-Style Correction – Here’s His Downside Target

An analyst who continues to build his following with long-term Bitcoin (BTC) calls warns that the crypto king could go through a major correction similar to what happened about eight years ago. Psuedonymous analyst Rekt tells his 345,100 Twitter followers that Bitcoin appears to be acting similar to its 2015 price action, when it retested […] The post Top Analyst Issues Bitcoin Alert, Says BTC Could Witness 2015-Style Correction – Here’s His Downside Target appeared first on The Daily Hodl.

US Debt Obligations To Hit $200,000,000,000,000 if Entitlements Are Not Cut As Demographic Storm Looms: Stan Druckenmiller

Legendary investor Stanley Druckenmiller is warning that America’s fiscal situation could force the nation to give up on much of its social programs and entitlements. In a new keynote speech, Druckenmiller, known as “The Druck”, says few are giving an honest look of the severity of the US debt, and most are not accounting for […] The post US Debt Obligations To Hit $200,000,000,000,000 if Entitlements Are Not Cut As Demographic Storm Looms: Stan Druckenmiller appeared first on The Daily Hodl.

Bitcoin: Long-term vs short-term holders’ tussle heats up; BTC caught in the middle

Data indicates that short term holders may be much more likely to sell their holdings going forward. Traders take short positions and await results.

Bitcoin [BTC] Futures: Key metric touches historic low as traders shift from volatility

Bitcoin's utility in the futures market has been affected by the FTX crash, resulting in price volatility. Recent data shows a decline in crypto-margined collateral.

What caused Ethereum [ETH] to decouple from Bitcoin [BTC]? Details here

The correlation between the two cryptos has been falling since mid-to-late March. However, the rift widened after the much-awaited Shapella Upgrade.

USDT YoY dominance grows since last capitulation, leaves other stablecoins trailing

The third-largest asset in market cap has maintained its lead in stablecoin adoption. Notwithstanding happenings on host blockchains differed.