Bitcoin (BTC) held $49,000 on Aug. 28 after the United States Federal Reserve sparked a run-up toward critical resistance. All eyes on $49,300 on the weekly chart Data from Cointelegraph Markets Pro and TradingView showed BTC/USD cooling at higher levels after cracking the $49,000 mark late Friday. The end of the working week had seen a positive reaction to comments from Fed Chair Jerome Powell on tapering of asset purchases, as well as remarks on inflation. As Cointelegraph reported, stocks surged to all-time highs, while the U.S. dollar weakened — Bitcoin made use of the opportunity and added $1,500 in …

Asset managers and companies currently hold over 6% of Bitcoin’s (BTC) circulating supply, according to Buy Bitcoin Worldwide. A breakdown of the data shows that Bitcoin fund issuers and asset managers hold about 4%, public companies account for nearly 1% and private companies own roughly 0.83% of the cryptocurrency’s supply. It's clear that institutional investors have continued to add crypto to their portfolios, and Adam Proctor, managing director for billionaire Simon Nixon’s investment firm — Seek Ventures — said the company plans to increase “allocation to crypto,” as it believes it to be an “important area for the future.” CNBC …

A major consensus bug has affected more than half the Ethereum network’s nodes, causing those running older versions of Geth to split from the main network. According to Ethereum software developer Marius van der Wijden, an unknown individual or group exploited a vulnerability affecting earlier versions of Geth, one of Ethereum's software clients. According to the developer, Geth clients and Ethereum nodes running software v1.10.7 or earlier are at risk of splitting from the network. “Users that run validators need to update their nodes quickly (in the next 10h I think) as they would otherwise vote on invalid committees," said …

Recently, the Ethereum network reached a new staking milestone. On Aug. 17, the Ethereum 2.0 staking contract became the single largest holder of Ether (ETH), surpassing Wrapped Ether (WETH). According to data from Etherscan, the Eth2 deposit contract now holds over 7.14 million Ether tokens, valued at $23 billion at the time of writing. This accounts for nearly 6.1% of all Ether tokens in circulation, which means that the staking rate for Ethereum is now over 6%. The Wrapped Ether deposit contract comes in second, holding 6.97 million tokens — i.e., 5.94% of all Ether. Data from Beaconcha.in reveals that …

Ether (ETH) will face a critical $820 million monthly options expiry on Friday, Aug. 27. That will be the first time that $3,000 and higher options will have a real fighting chance, even though bulls seem to have missed a good opportunity to dominate the expiry because they were too optimistic about Ether’s price potential. It is unclear why $140 million of the neutral-to-bullish call options were placed between $3,800 and $8,000, but these instruments will likely become worthless as the monthly expiry approaches. Competition and the success of interoperability-focused protocols impact Ether price The Ethereum network has struggled due …

Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000. The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings, and Glassnode data shows that the Bitcoin supply held by long-term holders has hit a new all-time high of 12.69 million BTC. This tops the previous record achieved in October 2020. MicroStrategy’s recent Form 8-K filing with the United States Securities and Exchange Commission shows that the company bolstered its Bitcoin holdings by 3,907 BTC between July 1 and Aug. 23. The company …

The amount of Ether (ETH) held by all cryptocurrency exchanges has declined dramatically in the previous 12 months. Blockchain analytics firm CryptoQuant reported that Ethereum reserves on trading platforms dropped 26.29 million ETH to 19.22 million ETH year-on-year (YoY), indicating that traders' preference to hold their tokens increased. At least the Ether price performance in the same period indicates the same. Between August 25, 2020, and press time, the ETH/USD exchange rate exploded by a little over 730%— from $407 to $3,190, signaling an erratic inverse correlation between the Ethereum token prices and its reserves across all exchanges. In detail, …

The latest rally in the Cardano (ADA) market has activated a classic bearish pattern that threatens to lower its prices by as much as 15%. Dubbed as a rising wedge, the textbook pattern forms when the price consolidates between upward sloping resistance and support trendlines. Its occurrence typically prompts a bearish reversal, confirmed by a voluminous break below the lower trendline. The profit target during such a negative move comes to be as below as the maximum wedge height. ADA/USD currently ticks all the boxes for forming a falling wedge pattern, as shown in the chart below. The pair now …

Bitcoin (BTC) rallied above the psychological hurdle at $50,000 today for the first time since May 15. The sharp rally of the past few days has turned the sentiment bullish, with many expecting the resumption of the bull run. Morgan Creek Digital co-founder Anthony Pompliano told CNBC on Monday that Bitcoin could make a blow-off top, similar to the one seen in 2017 when the price had surged from “$10,000 to $20,000 in 18 days.” The Crypto Fear & Greed Index has risen to 79, indicating extreme greed. Just a month back, the indicator was showing a reading of extreme …

Wells Fargo, in partnership with NYDIG and alternative assets manager FS Investments, has registered a new investment fund dubbed “FS NYDIG BITCOIN FUND I,” which will offer the bank’s wealthy clients an opportunity to gain indirect exposure to Bitcoin (BTC). In another sign of growing institutional interest, filings submitted to the U.S. Securities and Exchange Commission by BlackRock show a 6.71% stake in Marathon Digital Holdings and a 6.61% stake in Riot Blockchain. BlackRock’s total investments in both the publicly traded Bitcoin mining firms are roughly valued at $384 million. Coinbase CEO Brian Armstrong announced on Aug. 20 that the …

Cardano’s native token, ADA, ignored a serious price crash warning to rally to a new all-time high. The ADA/USD exchange rate reached $2.56 for the first time on Friday, following a 154.54% price boom that started on July 20. In doing so, the pair also ignored veteran trader Peter Brandt’s 60%–90% price crash warning, which was based on a classic bearish pattern called the head and shoulders. I remember being scoffed at unmercifully when I identified this top in $LTCUSD back in mid 2018 Hey Cardano trolls $ADAUSD , take aim... pic.twitter.com/3gytNHW4cR — Peter Brandt (@PeterLBrandt) July 30, 2021 But …

Ethereum‘s native token, Ether (ETH), may beat Bitcoin (BTC) to new all-time highs, fresh analysis reveals. In a tweet on Wednesday, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted a “sell-side liquidity crisis” that could yet give ETH the edge over BTC. Ether liquidity shortfall “intensifying” With Bitcoin up over 50% versus its lows of $29,000, altcoins have also begun to reawaken, with Ether as no exception. The largest altcoin has recaptured $3,000, a level that, this week, is now in the process of being retested as support. Despite attention focusing on Bitcoin reclaiming $50,000, optimism over Ether …