Tag: Bitcoins

Bitcoin’s Upside Momentum Fading: What’s Next for BTC?

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Bitcoin price started a recovery wave from the $67,000 zone. BTC is now struggling to clear the $68,800 and $69,500 resistance levels. Bitcoin remained stable above the $67,000 zone and recovered higher. The price is trading above $68,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $67,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $68,800 level. Bitcoin Price Faces Resistance Bitcoin price…

Bitcoinโ€™s Scaling Dilemma: Binance Report Sheds Light on BTCโ€™s Enhancement Hurdlesย 

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Amidst the backdrop of this year’s skyrocketing BTC transaction fees and a congested network, the latest Binance Research report, “The Future of Bitcoin #3 – Scaling Bitcoin,” unveils several approaches to addressing Bitcoin scalability. As average onchain fees have climbed in 2024, Binance researchers say stakeholders across the ecosystem are poised to redefine Bitcoin’s infrastructure […] Original

Analysts say Bitcoin’s hashrate surge will ‘smack miners’

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Crypto mining analytics firm Hashrate Index says public Bitcoin miners are energizing their ASIC orders on schedule. Bitcoin miners are about to face a โ€œhefty upward difficulty adjustmentโ€ in eight days as public mining giants accelerate their operations. According to analysts at Hashrate Index, top public miners have 76.6 EH/s of equipment on order for 2024, with 12.9 EH/s scheduled for delivery in Q1 and nearly 36 EH/s expected in Q2. โ€œ[โ€ฆ] the current surge in hashrate is going to smack miners with a hefty upward difficulty adjustment in about…

Insights into its impact on Bitcoin’s ecosystem

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Andreas Brekken, founder of SideShift.ai, recently shared his insights on the emerging Runes Protocol and its implications for the Bitcoin ecosystem. Crypto.news received exclusive comments via email on Brekkenโ€™s views about the Runes Protocol, which gained hype and popularity during the recent Bitcoin Halving. The Runes Protocol, which utilizes the Bitcoin UTXO model without adding a secondary fee token, offers a streamlined approach to token standards that could improve transaction efficiency and lower costs. โ€œThe Runes standard improves on previous models by sticking to Bitcoinโ€™s UTXO model and not adding…

What is SegWit? Guide to Bitcoin’s Segregated Witness

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Interested in knowing what is SegWit? Read our in-depth explanation of the technology, its origins, and its uses in the Bitcoin (BTC) network. Staying current with technical innovations in crypto is crucial for anyone involved, whether youโ€™re a miner, trader, or enthusiast. Although a few years old, one noteworthy innovation worth knowing about is segregated witness, commonly known as SegWit. In this article, we will help answer the question, โ€œWhat is SegWit?โ€ We will break down the technology, explain how it works, and what are its benefits as well as…

Dfinity Senior Scientist: Bitcoinโ€™s Next Significant Wave of Innovation Will Revolve Around DAOs

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After the introduction of ordinals, BRC-20 tokens, and more recently, Runes, the next significant wave of innovation on Bitcoin will revolve around Decentralized Autonomous Organizations (DAOs). Aisling Connolly, the Senior Research Scientist at the Dfinity Foundation, has asserted this. He stated that the technology, which is now well-suited to support DAOs and the more mature […] Original

John Bollinger warns of potential pullback amid Bitcoin’s priceย surge

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Veteran trader John Bollinger, the creator of Bollinger Bands, has expressed caution about Bitcoinโ€™s immediate future. Bitcoin has surged nearly 13% over the past week and a half, reaching the $71,000 mark per BTC. This rally has led market analysts and traders to reassess their strategies as Bitcoin inches closer to its all-time high of $74,000. Amid the bullish sentiment, Bollinger identified a concerning pattern on Bitcoinโ€™s price chart, suggesting a potential pullback or consolidation period. He pointed out the appearance of a two-bar reversal at the upper Bollinger Band,…

Bullish hashrate traders expect Bitcoin’s price to go up over next six months

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Hashrate forwards signal bullish sentiment as analysts predict higher hashprice in the next 6 months, buoyed by Bitcoinโ€™s $70,000 rally despite challenges. Hashrate futures contracts traders seem optimistic about Bitcoinโ€˜s near-term prospects, with indications pointing towards a bullish sentiment as future hashprice quotes persist above spot price. ๐Ÿ“ข HASHPRICE & HASHRATE MARKET UPDATE! Hashrate Forwards are trading in contango since the Halving, with future hashprice quotes above spot price. Bullish hashrate traders expect hashprice to rise over the next 6 months. They anticipate difficulty may fall/stagnate, transactionโ€ฆ pic.twitter.com/4ZLgN6Jxyp โ€” Hashrate…

Over $23M in Casascius Bitcoins Redeemed in 2024, Leaving $2.7B Untouched

As of the latest data, 352.3 BTC valued at $23.5 million linked to Casascius physical bitcoins have been redeemed this year. Despite 155 physical bitcoin peels, an estimated $2.7 billion in value remains unclaimed and associated with these tangible assets. 18,741 of Mike Caldwellโ€™s Casascius Coins Still Remain Unpeeled In the early days, Mike Caldwell [โ€ฆ] Source CryptoX Portal

Bitcoinโ€™s Runes Protocol Hype Falls Short: Significant Drop in Activity and Fees

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It has been 29 days since the halving and the launch of the Runes protocol, and since May 1, Runes activity has been underwhelming, falling short of the expectations set months prior. Similarly, the trend of Ordinals inscriptions has significantly declined over the past month. Runes Protocol’s Initial Excitement Dwindles Amid Decreased Activity Before the […] Original