The total amount of Ether (ETH) held by all the crypto exchanges fell to its lowest levels, just as its price rose back above $3,000 per token on Sept. 23. Data collected by CryptoQuant, a blockchain analytics platform, showed that exchanges' net Ethereum token reserves dropped to 18.533 million ETH, compared to 23.92 million ETH a year ago. Meanwhile, the cost to purchase one Ether rose from almost $349 to as high as $3,078, showcasing an inverse correlation between ETH reserves on exchanges and prices. Supply-demand factor Lower exchange reserves point to traders' likelihood of holding the underlying cryptocurrency than …

As the prospect of Chinese property giant Evergrande defaulting on $305 billion worth of debt looms, pundits are weighing in on how the firm’s bankruptcy could impact the legacy and crypto markets. Speculation as to whether the real estate investment giant will default has coincided with a downturn across the crypto and stock markets, leaving many analysts divided on whether traders should be buying the dip or looking to take profits in preparation for further bearish momentum. At the time of writing, Bitcoin (BTC) is down by around 13% since the downturn started on Saturday, while the S&P 500 is …

Prices of Ethereum's native asset, Ether (ETH), slumped on Sept. 20 amid a broad sell-off in the cryptocurrency market, led by worries about a potential housing bubble crisis brewing in China. The ETH/USD exchange rate dropped as much as 12.52% to $2,911 on the Coinbase exchange, hitting its lowest levels since the beginning of August. Elsewhere in the crypto market, Bitcoin (BTC), Binance Coin (BNB), Cardano (ADA), Solana (SOL) and other top tokens plunged in tandem. The drop imitated the mood in the broader market as United States equities plunged following a day of red in both the Asia-Pacific and …

Despite Bitcoin (BTC) dropping below the $43,000 mark on Monday, the outflow of BTC from exchanges has continued in a multi-month trend, particularly on Coinbase Pro. Over the past month, the amount of Bitcoin held in Coinbase Pro’s vaults dropped by 28,843.87 BTC. Similarly, other crypto exchanges, including Kraken, OKEx, Bitfinex and Huobi, also experienced a drop in their Bitcoin holdings, with the withdrawn amount totaling 30,236 BTC across the board. On-chain analysts perceive falling Bitcoin reserves as a bullish signal. That is primarily because most traders move their BTC assets to exchanges only when they prefer to trade them …

Bitcoin’s (BTC) fell below critical $44,000 support on Monday as concerns over China spilled over into crypto markets. BTC’s price sinks through support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD shedding 2% in an hour to hit local lows of around $43,400. The pair had struggled overnight into the new week, as stocks fell in step with renewed worries over the fate of Chinese property giant Evergrande. Amid a general shift away from risk assets, there were few winners beyond the United States dollar on the day. For Bitcoin analysts, however, the drop was still not worth focusing …

Bitcoin (BTC) starts a new week with a decidedly bearish move — but one that fails to shake investor confidence in the bull run. A mixed weekend saw BTC/USD close above $47,000 only to lose all of its previous gains to challenge $45,000 support hours later. It’s a delicate situation — not just Bitcoin, but stocks and sentiment are taking a beating as the Evergrande implosion in China unravels. What could affect the cryptocurrency market? As analysts expect a “choppy” week for BTC price action, Cointelegraph takes a look at five factors worth considering when charting where Bitcoin might be …

One of the reasons behind Bitcoin’s (BTC) volatility, the substantial price oscillations that occur regularly, is the discrepancy of its use cases. Some pundits deem it “digital gold,” a truly scarce and perfect store of value. Others consider Bitcoin a technology project or a type of software with a corresponding network. El Salvador’s adoption as legal tender will likely evidence the means of exchange functionality that the Lightning Network provides. The Layer-two scaling solution allows instant and insanely cheap transfers, although it requires regular on-chain transactions to enter or exit this parallel network. As these narratives about Bitcoin shift over …

The value of MicroStrategy’s massive Bitcoin (BTC) holdings has surpassed what most S&P 500 companies hold in their cash treasuries. The Nasdaq-listed enterprise software firm purchased an additional 5,050 Bitcoin for about $242.9 million, raising the value of its 114,042 BTC holdings to nearly $5.3 billion. That comes out to be higher than what 80% of non-financial S&P 500 companies hold in their cash coffers, as per data compiled by Bloomberg. Cash spending up among corporations MicroStrategy made buying Bitcoin its official corporate strategy in 2020, with its celebrated CEO, Michael Saylor, calling the move a defense against the U.S. …

Bitcoin (BTC) starts a new week in a precarious place — below $45,000 and below some key moving averages. What’s next? Almost a week after a cascade of leveraged position unwinding forced the market to $42,800, Bitcoin has erased most of its subsequent recovery. The weekend produced little by way of a paradigm shift, and now, downside volatility is firmly in place. With BTC/USD down 13% in a week, Cointelegraph takes a look at five things that may help traders to anticipate what the next move could be. Stocks due for a rebound Stocks are expected to perform better this …

Tokenized stocks have had a shaky few months from a regulatory perspective, but that seemingly hasnt stopped legacy financial giants and decentralized finance (DeFi) advocates from inking new deals. Bloomberg reported today that Nasdaq, Finnhub and Tiingo will be providing their price feeds to DeFiChain, a DeFi platform built on the Bitcoin network. DeFiChain offers trading in tokenized stocks that correspond to the underlying price of major listed firms such as Tesla, Amazon and Apple. The tokenized stocks, similar to a now-retracted offering rolled out by Binance earlier this year, can be purchased in fractions without requiring investors to purchase …

Virgin Islands-based cryptocurrency exchange Bitfinex is moving into the security token offering (STO) industry by launching a new STO platform regulated in Kazakhstan. Bitfinex Securities, Bitfinex’s blockchain-based investment product provider, has launched its investment exchange regulated in Kazakhstan’s national financial hub, the Astana International Financial Center (AIFC), the firm officially announced on Monday. The new STO platform will operate under the AIFC Fintech Lab, a regulatory sandbox established in the AIFC by the Astana Financial Services Authority to support development in the financial industry. Bitfinex Securities chief technology officer Paolo Ardoino told Cointelegraph that Bitfinex Securities is operating from a …

MicroStrategy’s stock, MSTR, is preparing to undergo a massive bull run in the sessions ahead. So shows a technical setup, dubbed inverse head and shoulder, that has a history of predicting upside moves with an accuracy of 83.44%, as per Samurai Trading Academy’s research. MSTR appears to have formed a similar bullish structure, as shared by independent market analyst Bob Loukas. In detail, an inverse head and shoulder (IH&S) is when the price forms three troughs in a row, with the middle one (head) deeper than the other two (shoulders). Meanwhile, all the troughs hang by a price ceiling (neckline). …