Bitcoin (BTC) and Ether (ETH) are testing psychologically important support levels at $60,000 and $4,000 respectively. Both these levels are critical to keep the uptrend intact in the short term. While the fall may scare off leveraged traders, Bitcoin whales seem to be viewing this dip as a buying opportunity. On-chain data shows that the third-largest Bitcoin whale added 207 Bitcoin to the holdings at an average price of about $62,053 per Bitcoin. After the latest purchase, the whale’s holding has increased by 635 Bitcoin in November, according to journalist Colin Wu. However, it is not all bullish news for …

Analytical data from BscScan, a sister product of Etherscan, reveals that Binance Smart Chain (BSC) surpassed 14.7 million blockchain transactions on Nov 16. This establishes a landmark all-time high for the decentralized finance (DeFi) network which exceeds the previous high of 13.1 million recorded on July 29 this year. In addition, 276,446 new wallet addresses were created yesterday, a notable advancement of the 111,244 new addresses on July 29. The BSC team tweeted an official announcement this morning to share the successful milestone. Congratulations to the whole #BSC community! Binance Smart Chain hit a record-breaking milestone of over 14.7 million …

Bitcoin (BTC) could not sustain its gains and succumbed to profit-booking as the U.S. trading markets started the week, possibly indicating that bears have not given up yet. PlanB, creator of the popular BTC stock-to-flow model, does not seem to be perturbed by the dull price action of the past few days. The analyst believes that his worst-case scenario projection of $98,000 by Dec. 1 and $135,000 by Jan. 1 remains in place. However, long-term holders do not seem to be waiting for higher levels and have started booking profits, according to analyst William Clemente who cited Glassnode data. According …

Bitcoin (BTC) price continues to weaken following the shakeout of the leveraged traders in the derivatives markets on Nov. 10. This caused the derivative funding rates to drop to the neutral territory of 0.01% across exchanges. Data analysis firm Arcane Research said in its latest weekly newsletter that the derivatives markets had matured compared to the run to the previous all-time high in April. The firm highlighted that the futures’ basis, the difference between Bitcoin’s spot price and futures price, which was at elevated levels in April have dropped much lower, “indicating a healthier market.” According to Bloomberg senior ETF …

Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls. In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017. Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin could reach $96,355, which could potentially be this cycle’s top. Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” …

Bitcoin (BTC) is close to making a new all-time high and Ether (ETH) finally soared to hit a new high at $4,800. This pushed the total crypto market capitalization above $3 trillion for the first time ever on Nov. 8, according to data from CoinGecko. Data from Santiment shows that Bitcoin whales holding between 10,000 BTC to 100,000 BTC in their wallets have been aggressively buying in the past few days. They have added 92,000 Bitcoin in the past 25 days out of which roughly 43,000 have been purchased in the past five days. Another important group that has been …

Bitcoin (BTC) and Ether (ETH) had their highest monthly close ever in October, indicating strong momentum that favors buyers. The focus now shifts to November, which has largely been bullish for Bitcoin. Since 2013, Bitcoin has closed November in the red on only two occasions, in 2018 and 2019. Another positive impetus for Bitcoin could be the tailwinds from the U.S. stock markets, which also have an enviable record in November. The S&P 500 has recorded a median rise of 2% in November, the only month of the year to achieve such impressive median returns. Data from Glassnode also shows …

The weekend failed to ignite bullish momentum from crypto investors and both Bitcoin (BTC) and Ether (ETH) turned down on Oct. 31. The bulls will now try to achieve the third successive weekly close and the first-ever monthly close above the psychological $60,000 level. $63,000 is another level of interest for traders because the stock-to-flow creator PlanB, projected this level as the “worst-case scenario” for October. In the recent past, PlanB’s worst-case theory was proven to be correct in August and September. Apart from the near-term interest, investors should remember that Bitcoin was launched on Jan. 3, 2009, at a …

Bitcoin (BTC) is still in a corrective phase but Ether (ETH) has attracted strong buying, which pushed it to a new all-time high on Oct. 29. The successful Altair Beacon chain upgrade seems to have boosted sentiment and it also paves way for the merge with the Ethereum mainnet and the change to proof-of-stake. Meanwhile, MicroStrategy has continued to add to its already impressive Bitcoin stack. The company’s Q3 report shows that it added 8,957 Bitcoin, taking its haul to 114,042 Bitcoi as of Sept. 30, purchased at an average price of $27,713. The software firm’s appetite does not seem …

Bitcoin (BTC) has broken back below the psychological support at $60,000. While this seems to be negative in the short term, the price action has continued to mirror its movement in 2017. If the similarity continues for the remainder of the year, Bitcoin bulls may be in for a party. PlanB, creator of the popular Bitcoin Stock-to-Flow (S2F) model, recently proclaimed in a tweet that the second leg of Bitcoin’s bull market has begun. If Bitcoin’s price action continues to follow the S2F model, the analyst believes a rally to $100,000 to $135,000 may be possible by the end of …

Binance, the world's largest cryptocurrency exchange by volume, tweeted on Oct. 26 that the cumulative number of transactions on its Binance Smart Chain (BNB) has surpassed 1.5 billion. The network achieved this milestone a mere 14 months after its launch on Aug. 31, 2020. According to BscScan, the daily number of transactions on the blockchain recently surged to over 10 million — just shy of its all-time high record of 13 million back on July 29. There also appear to be more than 108 million unique wallet addresses on BSC’s blockchain, compared to about 650,000 at the beginning of the …

Bitcoin (BTC) has recovered from the dip below $60,000, indicating strong buying at lower levels. CryptoQuant CEO Ki Young Ju said that investors used market orders to buy $840 million worth of Bitcoin futures on dips to $60,000. This suggests that analysts are positive for the rest of the year and anticipate the bull run to continue. Analyst TechDev believes that Bitcoin’s price action in 2021 is following the same trajectory as in 2017. If that were to happen, Bitcoin could be getting ready for a sharp move higher in the remainder of the year. In a step that could …