Tag: High

S&P 500 Registers 4 Consecutive Days of Winning Streaks Ahead of High Impact News on Employment Change

The S&P 500 gained about 3.17 percent in the past five days to trade at around 4,514.87 as of Wednesday’s close. The S&P 500 (SPX)  edged higher on Wednesday, closing above crucial support levels that could see the stock index revisit its ATH soon. The Standard and Poor’s 500 gained about 0.38 percent on Wednesday to close the day trading at around 4,514. Other major stock indexes led by the Dow Jones Industrial Average (DJIA) and the US 100 Index (NDQ) gained about 0.11 percent and 0.56 percent respectively. The…

GBTC Shares See Volumes Climb To 2-Year High Amid Grayscale’s Victory Lap

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On August 29, the US Court of Appeals ruled in favor of Grayscale in its legal battle against the US Securities and Exchange Commission (SEC). Following this, Grayscale’s GBTC shares trading volume significantly increased, climbing to a 2-year high in the process. GBTC Shares See 17% Increase According to data from Yahoo Finance, GBTC’s share price had opened at $17.66 on the day and closed at $20.56, rising by almost 17% from the previous day. Furthermore, the fund saw its busiest day in over a year, with over 19 million…

Another Bitcoin Metric Is About To Reach A New All-Time High Despite The Bear Market

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The price of Bitcoin has taken a beating in the past month. The leading cryptocurrency by market cap is down by more than 11% from its price in July and has lost more than $50 billion in market cap since then.  While the price plunge has been painful for investors, Bitcoin miners have also been feeling the sting as mining revenue per computing power has been dwindling for the past few months. On the other hand, Bitcoin’s hashrate has soared to high levels as mining farms continue to come online.…

Does high US consumer debt benefit Bitcoin price?

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Cointelegraph analyst and writer Marcel Pechman breaks down consumer debt and why it might lead to a good outcome for BTC. On the latest episode of Macro Markets, Cointelegraph analyst Marcel Pechman explains why United States consumption remains strong while auto-loan and credit card balance delinquency is accelerating. According to Pechman, consumers built a cushion of extra cash savings as the U.S. government injected money to avoid a recession and temporarily forgave student loan repayments. But, according to investment bank JPMorgan, “consumers have spent down the entirety of their excess savings…

BONE Token Soars By 11%, How High Can It Go?

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In a surprising turn of events, the Shiba Inu-based BONE token has emerged as one of the top-performing assets in today’s crypto market. Despite the broader market’s subdued performance, the Bone Shibaswap (BONE) token has registered an 11% surge in the past 24 hours. Why Is The Shiba Inu-Based BONE Up? The primary catalyst behind BONE’s commendable price action is a series of positive developments within the Shiba Inu ecosystem. A significant boost came from the recent overhaul of the Shibarium testnet explorer, Puppyscan. Furthermore, the ongoing process of releasing…

Bitcoin Difficulty Hits New All-Time High As BTC Price Nosedives

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Bitcoin price has been trading sideways in the past weeks, significantly declining from the $29,000 support. This bearish pattern spread panic among traders but has not deterred miners. Instead, Bitcoin mining participants appear to have increased. This is evident in the increased mining difficulty, which soared to a new record high. According to available data, Bitcoin mining difficulty surged 6.17% in the last week, alongside a spike in network activity on August 22. Bitcoin Mining Difficulty Spikes Up Amid Nosediving Prices While BTC price tanked by over 10% in a 7-day…

How High Can Shiba Inu (SHIB) Rise When Shibarium Restarts?

Shibarium, the much-anticipated layer-2 network of Shiba Inu is back online but remains under the radar, confined to an extensive private test phase. Shytoshi Kusama, the project’s lead developer, unveiled this update on Saturday. In his remarks, Kusama assured the community that they have resolved all technical challenges previously encountered on this layer-2 platform. Kusama mentioned, “Shibarium is currently live (but in private mode) producing blocks as normal.” He further emphasized the importance of ensuring optimal scaling and functionality before a public re-release, suggesting that the SHIB development team is…

Bitcoin supply last active over 10 years ago hits all-time high

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Glassnode reports a record 2.9 million BTC, valued at $82.5 billion, untouched for ten years. It underscores long-term holders’ faith amidst market fluctuations. Glassnode data shows that the amount of Bitcoin that has not been moved for at least ten years just hit a new all-time high of nearly 2,900,000 BTC — or about $82.5 billion. This means that the quantity of Bitcoin held for at least ten years keeps increasing and reaching new heights, suggesting…

Bitcoin & Top Assets See High Loss Taking, Is This Bullish?

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On-chain data shows Bitcoin and the other top assets are observing a high amount of loss-taking currently. Here’s what this could mean. Investors Of Bitcoin & Other Top Coins Are Capitulating Currently According to data from the on-chain analytics firm Santiment, the current trader capitulation that the largest assets in the market are seeing may be a bottom signal. The indicator of interest here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name already implies, tells us how the profit-taking volume for any…