Tag: High

The total crypto market cap continues to crumble as the dollar index hits a 20 year high

From a bearish perspective, there’s a fair probability that the crypto market entered a descending channel (or wedge) on Aug. 15 after it failed to break above the $1.2 trillion total market capitalization resistance. Even if the pattern isn’t yet clearly distinguishable, the last couple of weeks have not been positive. Total crypto market cap, USD billion. Source: TradingView For example, the $940 billion total market cap seen on Aug. 29 was the lowest in 43 days. The worsening conditions have been accompanied by a steep correction in traditional markets,…

Ethereum Classic Hashrate Taps Another All-Time High, ETH Hashpower Remains Unchanged – Bitcoin News

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On August 31, 2022, Ethereum Classic’s hashrate reached another all-time high (ATH) this year at block height 15,850,811. Ethereum Classic’s global hashpower surpassed the 40 terahash per second (TH/s) region on Wednesday. Despite the fact that the network’s hashrate has risen a great deal, Ethereum’s hashrate remains relatively unchanged with just over 1,000 TH/s dedicated to the network. 66 Mining Pools Dedicate More Than 1,000 Terahash to Ethereum, Network’s Hashrate Remains Steady and Unchanged At the time of writing, Ethereum’s total difficulty is 12374533505752422, and when the total difficulty reaches…

US dollar smashes yet another 20-year high as Bitcoin price sags 2.7%

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Bitcoin (BTC) faced familiar pressure on the Sept. 1 Wall Street open as the U.S. dollar hit fresh two-decade highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: DXY could hit 115 before ‘slowdown’ Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it fell to $19,658 on Bitstamp, down 2.7% from the day’s high. The pair faced stiff resistance trying to flip the important $20,000 mark to solid support, with macro cues further complicating the picture for bulls. That came in the form of a resurgent U.S. dollar…

Bitcoin’s Mining Difficulty Change Prints 2022’s Second Largest Increase — Metric Nears All-Time High – Bitcoin News

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On Wednesday, Bitcoin’s mining difficulty jumped 9.26% higher, recording the second highest difficulty rise in 2022. The latest rise is Bitcoin’s third difficulty increase since August 4, 2022, and it’s now 11.63% harder to find bitcoin block reward. Bitcoin Difficulty Jumps 9.26% — Metric Prints the Second Largest Rise This Year Bitcoin (BTC) has experienced the third difficulty increase this month as the difficulty increased by 9.26% on August 31. The difficulty change took place at block height 751,968, and the 9.26% jump is the second biggest this year. The…

Bitcoin Short Exposure Surge To New All-Time High

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Large institutional investors have since been turning their attention to shorter-term investments. This tracks with retail sentiment following the price decline of bitcoin from the $30,000 territory. This has put the digital asset in a perilous position, and despite the recent recovery that saw BTC touch $25,000, bearish sentiment continues to be the order of the day, causing the inflows into short bitcoin to balloon over this time. Short Bitcoin Inflows Grow Short bitcoin inflows have been on the rise for a couple of months now. When the ProShares’ short…

LEO Hits 6-Week High, as NEAR Jumps Higher for Third Straight Session – Market Updates Bitcoin News

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LEO rose to a six-week high on Wednesday, as prices rallied for a fifth consecutive session. The move came as the token raced past a key resistance level, on its way to today’s peak. Near protocol was another notable gainer, climbing for a third straight day. UNUS SED LEO (LEO) Unus Sed Leo (LEO) was one of the big movers in today’s session, as the token rose for a fifth consecutive day. Following a low of $5.33 on Tuesday, the token raced to an intraday peak of $5.68 earlier in…

Crypto volatility may soon recede despite high correlation with TradFi

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After forging a minor recovery of sorts earlier this month, the crypto market has returned to exhibiting high levels of volatility over the past two weeks. This trend has pervaded the market since late last year, with the total market capitalization of the digital asset industry having dipped from an all-time high of $3 trillion back in November 2021 to its current levels of $1.08 trillion, representing a drop of over 65%. This then begs the question: “How long is this volatility going to last?” especially since the macroeconomic conditions…

Ethereum miner balance reaches four-year high weeks before the Merge

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The Ethereum Merge is slated for Sept. 15, which will see the Ethereum blockchain move from its current proof-of-work (PoW) mining consensus to proof-of-stake (PoS). The Merge is being touted as one of the biggest upgrades for the Ethereum blockchain as it would help the network move to a more energy-efficient way of verifying transactions and eliminate PoW mining completely. With the Merge date approaching, Ether (ETH) miner’s balance has touched a new four-year high. According to Oklink data, the balance of Ethereum miner addresses exceeded 260,000 ETH with a total of 261,848…

Miners To Experience An All-Time High Bitcoin Mining Difficulty, What’s Next?

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Bitcoin, a proof-of-work (PoW) blockchain, depends on its mining process to ensure the security and stability of its network. This involves the activities of miners that utilize special mining machines and electricity to operate Bitcoin nodes. Over the years, mining attracted different miners when BTC prices were high. However, the BTC mining difficulty and the network hash rate have their role to play in block rewards. From a recent report, the BTC mining difficulty is about to hit a new 7-month high this week. The trend of activities is creating…