Tag: Bitcoin

Is Ethereum dying? Bitcoin eyes $100,000 while ETH struggles under $3,500

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Ethereum (ETH) lost its three-year support against Bitcoin (BTC) as the most prominent cryptocurrency rallied towards its $100,000 target on Friday, November 22. ETH has faced sticky resistance at $3,500 for nearly four months while competitors hit record highs this cycle.  Ethereum loses favour with institutional investors, ETF performance lacklustre Ethereum slipped to a low of 0.03187 against Bitcoin on Friday, November 22. As Bitcoin made its way towards the $100,000 target, Ethereum price dropped under the support level that was maintained for nearly three years since 2021.  Ethereum’s decline…

Anixa Biosciences expands treasury strategy with Bitcoin

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Cancer-focused biotech Anixa Biosciences announced plans to invest in Bitcoin to strengthen its financial strategy and enhance shareholder value. The San Jose-based biotech firm stated in a Nov. 22 press release that it will allocate a portion of its treasury to Bitcoin (BTC), citing the asset’s “unique inflation-resistant qualities.” In a Nov. 22 press release, Anixa said the move has been approved by its board as part of a broader strategy to diversify its cash holdings. The biotech firm emphasized its “strong balance sheet and excess cash,” which allows it…

Bitcoin Officially In Overheated MVRV Zone, Rally End Near?

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On-chain data shows Bitcoin has recently surpassed a level of the Market Value to Realized Value (MVRV) Ratio that has historically signaled overheated conditions. Bitcoin Has Surpassed Highest MVRV Deviation Pricing Band In its latest weekly report, the on-chain analytics firm Glassnode has discussed about how Bitcoin is looking right now from the perspective of a pricing model based on the MVRV Ratio. The MVRV Ratio is a popular BTC indicator that keeps track of the ratio between the market cap of the asset and its realized cap. The latter…

XRP, Cardano (ADA), Solana (SOL) Outperform Bitcoin (BTC) Price as SEC Chair Gary Gensler Sets Exit Date

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Bitcoin is inching closer to the $100,000 mark, though its momentum has slowed. It clinched another record on Thursday at $99,500, dipping below $99,000 heading into the U.S. open. BTC has risen 1% over the past 24 hours, while the broad-market CoinDesk 20 Index gained over 7%. Most alternative cryptocurrencies (altcoins) in the CD20 outperformed BTC, an early sign of capital rotation into smaller, riskier tokens as bitcoin’s pace stalls. The $100,000 price point poses a significant resistance level, where investors might take profits on their investments. Still, there’s a…

Bitcoin Cash eyes 18% rally

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Bitcoin Cash (BCH) added nearly 35% to its value in the past month and rallied 12% on Nov. 21. Bitcoin’s (BTC) observed a rally to $98,384 early on Nov. 21, with BCH and other top cryptocurrencies tagging along for the ride.  An analysis of on-chain and technical indicators and data from the derivatives market shows that BCH could extend gains and retest its mid-April 2024 peak of $569.10.  Bitcoin hits all-time high, fork from 2017 ignites hope for traders Bitcoin hit a record high of $98,384 on Nov. 21, a…

Bitcoin ATH Drags ETH/BTC To Lowest Point In 3 Years

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Este artículo también está disponible en español. As Bitcoin (BTC) reached a new all-time high (ATH) of $98,310 today, the ETH/BTC trading pair fell to multi-year lows, raising questions about the relative strength of Ethereum (ETH), the second-largest digital asset. What’s Causing Ethereum’s Underperformance Against Bitcoin? Bitcoin’s new ATH earlier today brings it within $2,000 of the coveted $100,000 mark. However, BTC’s sustained dominance has resulted in the underperformance of altcoins, particularly Ethereum, throughout the year. Related Reading The weekly chart below reveals that the ETH/BTC trading pair has dropped…

Bitcoin Approaches $100K; Retail Investors Stay Steady

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Bitcoin trades at $99,340.23, approaching the $100K mark as retail investors retain market dominance. What is more interesting about this rally is the dominance of retail investors, who currently account for 88.07% of all Bitcoin (BTC) in circulation, according to The Block. Contrary to the recent claims that institutional investors are leaving retail investors behind in ownership of BTCs, the asset is still in the hands of retail investors, which underlines their stronghold in the market. This grassroots stronghold contrasts the much smaller shares held by whales at 1.26% and…