Tag: Rally

Are Cosmos’ ecosystem growth and roadmap enough to sustain ATOM’s current 50% monthly rally?

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In September 2022, Interchain Foundation, the team behind Cosmos’ development , introduced the Cosmos ATOM 2.0 whitepaper. The document proposed significant changes to Cosmos’s design, including a tokenomics upgrade to fund the Cosmos ecosystem development and reduce ATOM inflation. While the whitepaper launch acted as a bullish catalyst for ATOM price, the community vote to pass the proposal eventually failed, primarily because of its enormity. Some community members wanted to take a measured approach to each development feature listed in the whitepaper, starting with Interchain Security in Q1 2023. Interchain…

Bitcoin Extends New Year Rally, Crosses $24,000 Briefly

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While Bitcoin may not reach its previous all-time high of $69,000 before the end of 2023, some investors believe that crypto has bottomed out and would begin recovering. Building on its new year rally, the price of Bitcoin crossed the $24,000 threshold on Wednesday night. The upsurge corresponded with a gain in general tech stocks and a drop in the US dollar currency Index (DXY) and US Treasury yields. Bitcoin price has remained closely correlated to the tech-heavy Nasdaq stocks. Its latest rally comes after the Federal Reserve raised its…

Marathon Digital Sells Mined Bitcoin for First Time to Monetize Recent Rally

The miner said in a release on Thursday that the decision was made to cover some of its expenses. “With bitcoin production increasing and becoming more consistent, we made the strategic decision to sell some of our bitcoin, as previously planned, to cover some of our operating expenses and for general corporate purposes,” Marathon’s Chairman and CEO Fred Thiel, said in a statement. The company still holds about 11,418 bitcoin in its reserve. Source

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs

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On Feb. 1 and Feb 2. Bitcoin’s (BTC) price surpassed even the most bullish price projections after the U.S. Federal Reserve (FED) announced plans to raise interest rates by 25 basis points.  Even though FED chair Jerome Powell told investors not to wait for interest rate cuts in 2023, during his press conference he did clearly state that the employment data is currently the main focus. The results of the ADP payroll survey revealed on Feb. 1 that U.S. private sector hiring was significantly slower in January. ADP’s measure of…

Bitcoin on-chain data and BTC’s recent price rally point to a healthier ecosystem

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Bitcoin (BTC) had a rough year all throughout 2022. But fresh on-chain and futures market data show positive signs that the leading cryptocurrency by market capitalization has started to recover. After a bevy of short liquidations, the futures market is pointing toward renewed equilibrium. According to data from Glassnode, short position liquidations cleared out unhealthy market speculators, on-chain and exchange data now point to an improving spot market and exchange netflows. A large group of investors that were previously at a loss is now back in the category that Glassnode…