The number of Bitcoin whales is rapidly decreasing to levels not seen since earlier this year, possibly due to the three-month high of coin inflows to centralized exchanges (CEXs). Bitcoin market tracker Glassnode has issued several bearish indicators for the largest cryptocurrency by market cap, including data suggesting a market exit for whales holding at least 1,000 coins and exchange inflows of more than 1.7 million coins, the most since February. #Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 3-month high of 1,755.021 BTC Previous 3-month high of 1,729.605 BTC was observed on 08 May 2022 View metric:https://t.co/1S6EbDkdOO …

Anthony Scaramucci, the founder of the hedge fund SkyBridge Capital, thinks that the next United States presidential candidate will likely be pro-cryptocurrency, given that the U.S. Securities and Exchange Commission (SEC) recently announced the approval of a fourth Bitcoin (BTC) futures exchange-traded fund (ETF). During an interview at SALT’s Crypto Bahamas conference, Scaramucci told Cointelegraph that he has been bullish on a pro-crypto presidential candidate since the SEC approved Bitcoin futures under the Securities Act of 1933 (‘33 Act) and the Securities Act of 1934 ('34 Act). He added: “The Congress is indicating that they are more crypto-friendly. You now …

Bitcoin (BTC) prices could drop by 20% in the next few months, but that has not deterred its richest investors from stacking. The amount of Bitcoin held by "unique entities" with a balance of at least 1,000 BTC, or so-called "whales," has increased to its best levels since September 2021, data on Glassnode shows. Interestingly, the number in the past week grew despite Bitcoin's price decline from $43,000 to around $38,000. Marcus Sotiriou, an analyst at GlobalBlock, a U.K.-based digital asset broker, considered the latest spike in Bitcoin whale holdings as a bullish indicator, recalling a similar move in September …

Several popular cryptocurrency analysts believe the future looks green for Bitcoin (BTC) as it reclaimed the $40,000 mark in a 3.5% swing following a week-long dip. Popular Bitcoin technical analyst on Twitter TechDev issued a prediction to his 381,000 followers that the general direction for the largest cryptocurrency by market cap will be up for the foreseeable future. His April 14 chart drew a comparison between the tremendous rise of the Dow Jones Industrial Average in the '80s and '90s to Bitcoin's price over the past six years. Past performance is no guarantee of future returns but there are some …

The price of Bitcoin (BTC) has been on the decline again recently, but new insights from blockchain analytics firm Glassnode show that up to 75% of Bitcoin addresses are in profit. In its Week-On Chain report published on Monday, April 11, Glassnode analyzed the number of Bitcoin wallets that are in profit and found that around 70% to 75% of addresses are seeing an unrealized profit, much higher than the 45% to 50% of addresses during the 2018 bear market. Commenting on the findings, the Glassnode analysts added that the current bear market is nowhere near as bad as previous …

The U.S. dollar's ability to continue its rally in Q2 could prove fatal for Bitcoin (BTC), which has demonstrated inverse correlation with the dollar since January 2022. Dollar paints "bull flag" The U.S. dollar index (DXY), which measures the greenback's strength against a basket of foreign currencies, reached its 21-month trading high of 99.82 on April 7, the highest level since May 2020. The index now looks poised to continue its upside move further as it breaks out of a classic bullish continuation pattern — called a "bull flag." In detail, bull flags appear when the price consolidates lower inside …

It’s a great time to move Bitcoin (BTC) between wallets and exchanges. Bitcoin transaction fees have hit all-time lows in BTC, according to research by Galaxy Digital. #bitcoin fees are at all-time lows. the craziest thing? fall 2021 was the first bull run not accompanied by a major spike in fees. how is that possible? what does it mean? here's a thread explaining the most confounding (and awesome) chart in bitcoin. (remember june 2021) pic.twitter.com/gnWssTckX2 — Alex Thorn (@intangiblecoins) April 5, 2022 As shown on the graph below, the Bitcoin mean transaction fee has plummeted to 0.00004541 Bitcoin ($2.06) in …

Canadian Bitcoin exchange-traded fund (ETF) holdings have increased to all-time highs according to recent research, and spot-based products are leading the way. Canadian Bitcoin ETFs have increased their holdings by 6,594 Bitcoin (BTC) since January to reach an all-time high of 69,052 total BTC held. The Purpose Bitcoin ETF saw the biggest increase in holdings over that time period with a net growth of 18.7% to 35,000 BTC, according to Glassnode. An ETF is an exchange-traded fund that allows investors to speculate on the price of an asset without having to hold any themselves. The Purpose Bitcoin ETF, a spot …

CoinShares data revealed on Tuesday, March 29, that institutional investments into cryptocurrencies are at the highest levels in three months, a sharp rise from the previous week which saw outflows of $47 million. The Digital Asset Fund Flows Report revealed that investment products for digital assets saw total inflows of $193 million last week, a level not seen since early December 2021. The last time investment levels were near the current figure was in the week ending on December 3rd, which saw $184 million worth of inflows. The fund flows had a big focus on Bitcoin (BTC), with just over …

A sharp reversal in the price of Bitcoin (BTC) out of an otherwise bearish technical setup has raised its chances of reaching $58,000 in Q2. Bitcoin price bottoming out? On the daily timeframe, Bitcoin broke out of its ascending triangle on March 27 to the upside, bringing the much-anticipated level of $50,000 within its range. Interestingly, ascending triangles are continuation patterns, meaning they typically resolve by sending the price in the direction of its previous trend once it breaks out of their tightening range. Bitcoin, which was trending downwards before forming an ascending triangle, avoided further downside. Instead, it managed …

The Bitcoin network’s on-chain activity still appears to be in a bear market as U.S. and E.U. buyers are struggling to stay ahead of sellers based in Asia. Blockchain analytics firm Glassnode’s latest report on the weekly activity of the Bitcoin (BTC) network shows that the price of the largest crypto by market cap has stayed firmly within the same tight $5,000 range from $37,680 to $42,312. However, on March 22 the asset saw a sudden spike in price which elevated prices to a two-week high. Overall, the network is in a demonstrable lull according to Glassnode’s weekly review: “Bitcoin …

Buying a Coinbase stock (COIN) to gain indirect exposure in the Bitcoin (BTC) market has been a bad strategy so far compared to simply holding BTC. Notably, COIN is down by nearly 50% to almost $186, if measured from the opening rate on its IPO on April 14, 2021. In comparison, Bitcoin outperformed the Coinbase stock by logging fewer losses in the same period — a little over 30% as it dropped from nearly $65,000 to around $41,700 What's bothering Coinbase? The correlation between Coinbase and Bitcoin has been largely positive to date, however, suggesting that many investors consider them …