“The monthly chart of bitcoin shows a pending overbought downturn in the monthly stochastics. If confirmed at month-end, it would be a negative catalyst, suggesting the trading range marked the end to the cyclical uptrend from the 2022 low,” analysts at Fairlead Strategies said in a note shared with CoinDesk Wednesday. Source
JACKSON HOLE, WYOMING — Franklin Templeton CEO Jenny Johnson, who steered the asset management giant toward the digital asset space after taking over her family’s company in 2020, is shocked by how much traditional financial firms are unaware of Bitcoin’s scale. Source
While Bitcoin is widely recognized as a proof-of-work (PoW) network, it’s not necessarily the most profitable PoW asset to mine. With Bitcoin’s hashprice being relatively low, miners have been increasingly turning their attention to mining alephium (ALPH) and kaspa (KAS). These two digital currencies currently offer the highest profitability for miners, according to the latest […] Original
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the possibilities of making Bitcoin an important part of the proposed economic overhaul plan of El Salvador. Latam Insights Encore: El Salvador Might Benefit Putting Bitcoin at the Center of […] Original
Bitcoin is down more than 11% for the month, even after its bounce back from the recent broad market sell-off — but it still may fall further before testing new highs, according to Wolfe Research. On Thursday evening, bitcoin fell below $60,000, after sustaining that level for much of this week following the big sell-off and rebound in risk assets the week before. And even though the flagship cryptocurrency is still holding on to a year-to-date gain of about 36%, according to Coin Metrics, there’s little evidence that it’ll be…
Despite Bitcoin (BTC) and Ethereum (ETH) still struggling to reclaim their all-time highs, there appears to be a distinct fact amongst both assets now, as shown in the latest data. Particularly, according to Matrixport’s recent report, Ethereum is now displaying greater price fluctuations compared to Bitcoin in the past weeks. Ethereum’s Volatile Outpacing Bitcoin’s Volatility measures the price variations of an asset over time, with higher volatility indicating more significant price changes. According to data from Matrixport, the 30-day realized volatility spread between ETH and Bitcoin typically ranges from 1.0…
Decentralized cross-chain liquidity protocol THORChain experienced a price surge of 14% on Aug. 14 morning, making it one of the leading gainers in the crypto market. With a one-day trading volume above $272 million, THORChain (RUNE) gained nearly 13.6% and exchanged hands around $3.70 at the time of writing. RUNE allows crypto users to exchange digital tokens across several blockchains, including Bitcoin. RUNE 24-hour price chart — Aug. 14 | Source: crypto.news This recent uplift in THORChain‘s market performance is partly due to its new partnership with Kujira, which aims…
Crypto exchange Bitfinex’s latest Alpha report examines various key metrics, providing insights into whether bitcoin may be approaching a local bottom. “Overall, these metrics underline the deep bearish sentiment and stress among short-term investors, which usually occurs at local bottoms,” the report states. Bitfinex Report Analyzes Bitcoin’s Rebound and Potential Local Bottom Crypto exchange Bitfinex […] Original
Bitcoin’s recent rally could be setting the stage for a downturn, as several indicators suggest. The recent distribution of BTC from Mt. Gox, coupled with the German government’s large-scale sell-off, initially dampened Bitcoin’s price but led to a temporary recovery. However, metrics such as the Net Unrealized Profit/Loss and Stochastic RSI are signaling potential declines ahead. The article examines how these factors might affect Bitcoin’s future movements. Mt. Gox distributions and German government sell-offs July and August brought a cascade of bad news for Bitcoin (BTC). The month began with…
Speed, the company behind the Speed Wallet, has launched USDT-L, the first iteration of Tether, the largest stablecoin on the crypto market, on top of Bitcoin’s Lightning Network (LN). The wrapped token, which takes advantage of the “taproot assets” protocol recently rolled out by Lightning Labs, seeks to bring all the benefits of LN to […] Original