Day: March 7, 2024

Bitcoin call options clustering at $70k show bullish skew

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Analysts highlight the significant concentration of call options for Bitcoin, set to expire at the end of March, with a strike price of $70,000. This information, provided by Bitfinex‘s Head of Derivatives Jag Kooner, suggests a growing optimism regarding Bitcoin’s (BTC) value. Derebit’s Top Volume By Instrument Chart | Source: Derebit Kooner notes that the put-call ratio, a key indicator of market sentiment, has consistently remained below 0.6 for the first time in six months, indicating a bullish outlook among traders. The global put-call ratio for Bitcoin options now stands…

DOGE Millionaires Have Shot Up By 76%

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On-chain data shows the total number of Dogecoin millionaires has observed a steep increase over the past month, a sign of strong accumulation. Dogecoin Millionaires Have Jumped 76% In Past Month According to data from the market intelligence platform IntoTheBlock, the number of Dogecoin millionaires has been skyrocketing recently. “DOGE millionaires” here refer to the addresses that are carrying at least $1 million in their balance. The below chart shows how the total number of such addresses has changed over the past month. The data for the two millionaire groups…

Ethereum’s growth dips as traders eye new eco-friendly crypto

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Despite Ethereum’s recent 4.32% drop, the eco-friendly ICO eTukTuk hits $1.7M in presale with experts predicting significant returns. Ethereum has fallen by 4.32% today hours despite rallying to highs of $3.8K yesterday. However, the new ICO eTukTuk is progressing in its presale as it surges past $1.7 million. ETH price slumps but bulls fight back Ethereum enjoyed notable demand over the past week, rising from $3.2K to $3.8K yesterday.…

What is Compass Mining? – Blockchain.News

Compass Mining has emerged as an innovative leader in the cryptocurrency mining service industry, enabling individuals and institutions to participate in Bitcoin mining without the complexity of managing hardware. The cryptocurrency industry has witnessed exponential growth over the past few years, with various sectors flourishing, including the pivotal sector of Bitcoin mining. Among the companies pioneering this space, Compass Mining has established itself as a critical service provider, offering solutions that democratize access to Bitcoin mining operations. This article delves into Compass Mining’s business model, its impact on the mining…

Elon Musk’s Tesla, SpaceX owns more than $1.3b in Bitcoin

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According to the latest Arkham data, Elon Musk’s ventures, Tesla and SpaceX, hold over $1 billion worth of Bitcoin.  Arkham’s on-chain analysis found that Bitcoin transactions and flows were identical to SpaceX and Tesla’s balance sheets. The data shows that Tesla purchased $1.5 billion of BTC in January 2021.  Just two months after that, the automobile giants briefly allowed the purchase of Tesla in Bitcoin. Tesla’s BTC holdings have increased since then, as a large cluster of the current holdings seems related to a particular car sale.  The on-chain fund…

Total ETH Burned Crosses 1.5 Million Ahead Of Ethereum Dencun Upgrade

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The Ethereum Dencun upgrade is fast approaching and there have already been notable developments leading up to it. Besides the price of ETH rising to new two-year highs, there has been a significant increase in the amount of ETH that has been burned so far. Over 50,000 ETH Burned The Ethereum burn, which was brought with the EIP-1559 upgrade, has been ramping up over the past year. The ETH burned from fees on the blockchain quickly crossed the $100 million mark, and has now climbed to a new milestone. According…

BTC whale activity declines amid extremely greedy market conditions

The daily Bitcoin (BTC) whale activity has declined while the market weathers extremely greedy sentiment. According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC declined by 17.5% in the past 24 hours — falling from 24,313 to 20,048 unique transactions per day. BTC price, whale activity, funding rate, open interest and RSI – March 7 | Source: Santiment The decline in whale activity comes as the Bitcoin price recorded a 0.6% drop over the past 24 hours. The flagship cryptocurrency…