A combination of speculators continuously opening new long positions and miners dumping נitcoin to pay for hardware upgrades caused the top cryptocurrency to plunge to $58,000, according to an onchain analyst. The analyst expects the top crypto asset to rebound once the ongoing “culling of weak miners” is complete. Speculators Contribute to Bitcoin’s Plunge According […] Original
Bitcoin-based crypto investments have witnessed another week of outflow in what was an unpleasant week for Bitcoin and other cryptocurrencies. Bitcoin investors, in particular, were disappointed as they watched the price of the world’s biggest asset decline during the week, temporarily falling below $60,000. According to recent inflow data from CoinShares, this correction also flowed into crypto investment products. Notably, crypto investment products registered $584 million outflows last week to extend outflows to $1.2 billion in two weeks. True Correction Is Underway For Bitcoin According to the CoinShares report, most…
Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com,…
However, issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs) are required to make sustainability disclosures from June 30, 2024, and crypto asset service providers are required to start making disclosure requirements by the end of the year, explained Rowan Varrall, Associate Director at DTI Foundation. Source
Injective (INJ), a project known for its cross-chain derivatives protocol, is grabbing headlines after crypto analyst Javon Marks released a bullish prediction. Marks, a popular figure in the crypto space, believes INJ is poised for a “monstrous rally” towards a staggering $380 target. Related Reading This optimistic outlook comes amidst a generally volatile cryptocurrency market, leaving investors to wonder: is Injective really hurtling towards the moon, or is this a case of overzealous enthusiasm? Technical Twinkle: Hidden Bullish Divergence Fuels Optimism Marks’ prediction hinges on a technical indicator known as…
Public Bitcoin miner Hut 8 disclosed its strategies for keeping up with other market participants during its first analyst day in nearly nine months. Following a merger of equals last November with U.S. Bitcoin Corp. (USBTC), Bitcoin miner Hut 8 is focusing on capital efficiency, cost control, and profitable growth. According to a report from H.C. Wainwright’s crypto analyst Mike Colonnese, the plan failed to justify a bullish stance on the stock. Hut 8 CEO and USBTC co-founder Ashen Genoot took the stage in Miami last week during its first…
Recent trends in the Bitcoin market have shown a significant flushing out of leverage, a process commented on by prominent crypto analyst Willy Woo. While this corrective phase has seen Bitcoin’s price fall to as low as $58,000 yesterday, it has partially rebounded, currently trading around the $61,500 mark. However, the journey could be smoother, as ongoing liquidations and market adjustments pose challenges. Analyzing The Depth Of Current Market Correction Woo’s insights highlight that Bitcoin’s market correction hasn’t been done despite the recent recovery. Particularly, the market continues to grapple…
An analyst has pointed out how Shiba Inu (SHIB), Solana (SOL), and Cardano (ADA) are among the altcoins seeing a buy signal on this indicator. Shiba Inu, Solana, & Cardano Form Buy Signal Following Market Crash In a new post on X, analyst Ali Martinez has talked about how a Tom Demark (TD) Sequential signal has formed for Shiba Inu, Solana, and Cardano recently. The “TD Sequential” here refers to an indicator in technical analysis (TA) that’s generally used for finding probable points of reversal in any asset’s price. This…
In a new video titled “If I Had To 10X My Money, I’d Only Hold These 4 Altcoins!” aimed at shedding light on potential bull market leaders, renowned crypto analyst Miles Deutscher dissected the crypto landscape to pinpoint four altcoins that he believes could significantly outperform the market. His insights came in response to a query from his Discord channel about potential 5x to 10x gains during the current bull market. Deutscher believes that success in the crypto markets doesn’t necessarily come from holding a vast array of coins but…
The cryptocurrency market has been battered by recent events, with Bitcoin leading the decline and dragging many altcoins down with it. However, Dogecoin (DOGE), the memecoin often dismissed as a joke, has surprised some analysts with its relative stability during the downturn. Related Reading DOGE Holds On While Others Fall While established players like Bitcoin and Ethereum have seen significant price drops, Dogecoin has managed to maintain its support level. This unexpected resilience has sparked conversations about the future of DOGE, with some analysts cautiously optimistic. Analyst Predictions And Community…