Month: April 2024

Dogecoin Whales Send 800 Million DOGE To Exchanges, Dump Incoming?

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Dogecoin has been one of the best performers over the past year, consistently holding up gains even through market dumps. However, after the meme coin’s rally in March and then the subsequent dump in April, it looks like investors, especially whales, are finally getting ready to start taking profit. This is evidenced by a number of large DOGE transactions that were flagged going into exchanges over the last day. Dogecoin Whales Move 800 Million DOGE To Exchanges The movement of coins to centralized exchanges can be very bearish for the…

Xverse wallet releases guide on Runes, preps for Bitcoin halving

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Xverse Wallet introduces a detailed guide on Bitcoin Runes, providing insights into efficient token management on the Bitcoin blockchain post-halving. According to a guide from Xverse Wallet, Runes are fungible tokens issued on Bitcoin (BTC) using the Runes protocol. Casey Rodarmor introduced Runes last year as a streamlined alternative to the BRC-20 standard. The protocol aims to avoid network congestion by preventing junk UTXOs. Supported robustly by the community, the first Rune token, RUNE, was issued immediately after the announcement, with further developments, including a significant grant and a new…

Miner moves nearly $3.3m in Bitcoins for first time in 14 years

The miner first moved the Bitcoins received as a reward for the mined block on April 23, 2010. According to Lookonchain data, on April 15, an unknown whale moved 50 Bitcoins (BTC) worth about $3.3 million. Seventeen BTC went to the address associated with withdrawals from Coinbase, and the remaining amount remained in the wallet using the new details. A miner wallet woke up after being dormant for nearly 14 years and deposited 50 $BTC($3.28M) to #Coinbase 5 mins ago. The miner earned 50 $BTC from mining on Apr 23,…

Bitcoin Completes ‘End Run,’ Analyst Says

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Bitcoin (BTC) took a nasty spill over the weekend. Plunging to a gut-wrenching $60,850 before staging a partial recovery to hover around $64,500, this sudden price drop has left the crypto community scrambling for answers. Veteran trader Peter Brandt, known for his eagle eye on market patterns, has stepped into the ring to offer his insights, sparking debate about what this means for Bitcoin’s future. Bitcoin At A Crossroads: The ‘End Run’ Theory Brandt, a seasoned campaigner in the often-unpredictable world of crypto trading, sees the recent price action as…

ETF Analyst Offers Sober Outlook on Newly Approved Hong Kong Bitcoin ETFs; Challenges $25B Inflow Estimate

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Following Hong Kong’s authorization of the region’s first spot bitcoin and ethereum exchange-traded funds (ETFs), Bloomberg’s senior ETF analyst Eric Balchunas shared his insights on social media about the new additions. Although there were anticipations of notable capital inflows into the Hong Kong ETFs, Balchunas mentioned that while it’s a positive step forward, he emphasized […] Original

Bitcoin dominance back at 2021 high, boosted by ETFs

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Bitcoin’s prominence in the cryptocurrency sector has reached a three-year peak, primarily influenced by strong interest in U.S. ETFs. According to CoinMarketCap, it accounted for almost 55% of the $2.4 trillion market for virtual currencies, a level last seen in April 2021. The major coins following Bitcoin (BTC) in market share are Ether (ETH), stablecoin Tether, Binance’s BNB, and Solana (SOL). Recently launched U.S. spot ETFs from companies such as BlackRock and Fidelity Investments have quickly become notable successes, accumulating nearly $56 billion in assets. The influx of investment briefly…

Bitcoin Rebounds After Nearing Cost Basis Of Short-Term Whales

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Bitcoin has found a rebound back above the $66,000 mark following a drop towards the on-chain cost basis of the short-term holder whales. Bitcoin Drawdown Had Nearly Put Short-Term Whales Under Pressure As pointed out by an analyst in a CryptoQuant Quicktake post, BTC’s price had neared the Realized Price of the short-term holder whales during the recent drop, but had still managed to remain above the level. The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the cost basis (that is, the acquisition…

Short Sellers Target Bitcoin Miners as Reward Halving Nears, $2 Billion at Stake

A recent report highlights that the collective short interest in stocks from 15 bitcoin mining companies has approached the $2 billion mark. The performance of these mining stocks has declined compared to their stronger start earlier this year, coinciding with the proximity of just 663 blocks remaining until the next reward halving. Impending Bitcoin Halving […] Source CryptoX Portal

Crypto expert explores bear market possibility as Bitcoin halving draws near

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Analyst and co-founder of CMCC Crest Willy Woo predicted the beginning of a crypto bear market should Bitcoin fall below $59,000. According to Willy Woo, if the price of Bitcoin (BTC) falls below the support level of short-term holders at $58,900, the market risks entering a bearish phase. Here’s how the markets look to me. $58.9k STH support, if this breaks we move to a bear market. CVD selloff has peaked, so a phase of “up” next. CVD measures market orders (impatient buy/sells). Longer term: still weeks away from a…

UFC Winner Wants $300,000 Bonus Paid In BTC

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Bitcoin adoption is soaring across sectors, emerging as a standard in the sports industry. Demonstrating this trend, a UFC winner has requested his bonus to be paid in Bitcoin, underscoring the cryptocurrency’s increasing prominence within the sports sector.  Bitcoin Becomes Price Of Choice For UFC Winner Brazilian professional Mixed Martial Artist (MMA) and UFC 300 winner, Renato Moicano took to X (formerly Twitter) on April 14, to demand that his $300,000 bonus should be paid in Bitcoin. The declaration came as a pleasant surprise to crypto enthusiasts under the comment,…