BTC’s price slipped below $26,000 Friday afternoon after a rally toward $27,000 – which erased some of Thursday’s sharp decline – fizzled. The largest cryptocurrency by market capitalization had plummeted to $25,392 Thursday afternoon, hitting its lowest price since mid-June, amid cascading liquidations of leveraged trading positions. Source
The latest report from Glassnode Insights, titled “The Week On-Chain,” emphasized that Bitcoin (BTC) has reached historically low levels of volatility. This has led to a mere 2.9% separation between the asset’s Bollinger Bands, indicating an exceptionally narrow trading range. This situation has only been observed twice in Bitcoin’s history: in September 2016, when BTC traded near $604, and in January 2023, when the asset maintained a steady value of $16,800. As outlined in the report, periods of reduced volatility, combined with investor fatigue, prompt the movement of coins based…
Bitcoin (BTC) is on track to form two successive Doji candlestick patterns on the weekly charts but a positive sign is that the price is sustaining above the 20-week exponential moving average ($28,072). This suggests that the bulls have not lost their grip. Popular trader TechDev used the three-week timeframe to show that Bitcoin’s compression above the 20-period moving average was approaching values seen only four times since Bitcoin’s creation. Interestingly, on all three previous occasions, the expansions happened to the upside, suggesting that history favors the bulls. Crypto market…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin supply dormant for 7-10 years springs to life, hitting a one-month high, as BTC grapples with the $30,000 mark. Bitcoin (BTC) supply, last active between seven and ten years, has continued to increase since the start of the month, surging to a one-month high amid an observable uptick in social volume and dormant supply. According to data from crypto market intelligence resource Santiment, the BTC supply last active in the seven to ten years has…
Bitcoin’s price saw a 3% uptick, climbing to just shy of $30,000 in response to a plunge in global long-dated government bond yields. This fall in yields was triggered by China’s far weaker than anticipated trade numbers for July. The U.S. 10-year Treasury yield tumbled below the 4% mark. These macroeconomic shifts have seemingly buoyed the crypto market, with other notable cryptocurrencies like Solana (SOL), Toncoin (TON), and Chainlink (LINK) registering gains of over 4% at the time of writing. Source 30KBitcoinsFakesPayPalsRallyStablecoin CryptoX Portal
Argo Blockchain PLC, a leading global cryptocurrency miner listed on both the London Stock Exchange (LSE:ARB) and NASDAQ (NASDAQ:ARBK), has released its operational update for July 2023. The company reported mining 129 Bitcoin or Bitcoin Equivalents (BTC), averaging 4.2 BTC per day. This represents an 11% decrease from the daily average of 4.6 BTC in June 2023, primarily due to increased downtime at the Helios facility caused by weather-related curtailment and onsite construction. Despite the decrease in BTC production, Argo Blockchain’s mining revenue for July remained stable at $3.87 million,…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MicroStrategy plans to sell 750 million shares of stock to acquire more Bitcoin (BTC). Its current portfolio holds a total of 152,800 BTC. The company reported its intention to acquire more BTC in an SEC filing on August 1. MicroStrategy reported $22.2 million in net income, increasing its revenue by far compared to last year’s period, with a net loss of 1.1 billion. The company had 152,800 bitcoins by July 31, valued at 4.5 billion USD.…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto constantly evolves, with various tokens and projects competing for recognition and market influence. Among the decentralized exchange (DEX) protocols, Uniswap (UNI) has garnered significant acclaim in decentralized finance (defi). Nevertheless, recent price fluctuations and market instability have left investors speculating about the potential of a new player, Borroe. Supporters claim Borroe (ROE) can transform the crypto landscape, even surpassing the potential of Bitcoin (BTC) potential. Uniswap is volatile Uniswap allows users to trade various tokens…
Bitcoin (BTC) is struggling to rise above the overhead resistance at $31,000 but a minor positive is that the bulls have not allowed the price to dive below the $29,500 support. This suggests that a catalyst may be needed for the price to break out from its range. On the macroeconomic front, the Federal Reserve’s meeting on July 25 and 26 is an important event to keep an eye on. The FedWatch Tool shows a 99.2% probability of a 25 basis point rate hike in the meeting. If that happens,…
Bitcoin (BTC) is struggling to reclaim its psychologically-important level at $30,000 as analysts predict that choppy accumulation may last for months. Bitcoin soared to a new yearly high of over $31,800 on July 13, driven by optimism surrounding the potential approval of exchange-traded funds (ETFs) in the United States and Ripple’s landmark legal victory in its case against the U.S. Securities and Exchange Commission (SEC) regarding the classification of XRP as a security. However, five days after the pump, BTC closed below $30,000 as buyers struggled to push the price…