Bitcoin Faces Significant Decline Amid Market Volatility and Economic Data: Next Support Level Identified
Posted inTrending Analysis Bitcoin Market

Bitcoin Faces Significant Decline Amid Market Volatility and Economic Data: Next Support Level Identified

June 8, 2024
Bitcoin (BTC), the leading cryptocurrency, recently experienced a sharp decline, falling to an intraday low of around $68,500. This downturn coincided with ‘Roaring Kitty’s’ YouTube livestream, which failed to invigorate the market. Adding to the pressure, a stronger-than-expected non-farm payroll report for May, which added 272,000 new jobs, further strengthened the US dollar and dampened ... Read more
Chainalysis and Feds Unveil $169M in Bitcoin Linked to 911 S5 Botnet, Leading to Key Arrest
Posted inBlockchain Analysis Bitcoin Trending

Chainalysis and Feds Unveil $169M in Bitcoin Linked to 911 S5 Botnet, Leading to Key Arrest

May 30, 2024
Blockchain forensics firm Chainalysis has uncovered $169 million in Bitcoin connected to the notorious 911 S5 botnet, facilitating the arrest of Yunhe Wang, a Chinese national alleged to be a key figure behind the botnet. In a recent blog post, the New York-based Chainalysis revealed that the 911 S5 botnet, known for its illicit operations, ... Read more
Analysts Doubt Riot’s Acquisition of Bitfarms Due to Insufficient Premium
Posted inTrending Analysis Bitcoin

Analysts Doubt Riot’s Acquisition of Bitfarms Due to Insufficient Premium

May 29, 2024
Analysts at H.C. Wainright have expressed skepticism about the likelihood of Riot Blockchain successfully acquiring Bitfarms, citing Bitfarms' board disapproval and the inadequacy of the proposed premium. In a recent research note, lead analyst Mike Colonnese pointed out that Bitfarms' board had already rejected Riot's initial offer, and the proposed premium was not enticing enough ... Read more
Spot Ethereum ETF Approval Could Propel ETH to $5,000, Analysts Predict
Posted inTrending Analysis Ethereum

Spot Ethereum ETF Approval Could Propel ETH to $5,000, Analysts Predict

May 21, 2024
The approval of spot Ethereum ETFs could significantly boost the price of Ethereum (ETH), with analysts at QCP Capital suggesting it could reach $5,000 by the end of the year. According to the Singapore-based crypto trading firm, an unexpected approval from the U.S. Securities and Exchange Commission (SEC) could initially push ETH to $4,000 as ... Read more
Analysts Predict Potential Short Squeeze as Spot Ethereum ETF Deadline Approaches
Posted inEthereum Analysis Crypto Trending

Analysts Predict Potential Short Squeeze as Spot Ethereum ETF Deadline Approaches

May 20, 2024
Analysts from QCP Capital have indicated that the imminent decision on the approval of spot Ethereum exchange-traded funds (ETFs) could lead to a significant short squeeze, potentially driving the price of ETH back to recent highs. This prediction comes despite the current cautious sentiment among investors. In a recent report, QCP Capital analysts highlighted a ... Read more
Bitcoin Price Prediction as $17 Billion Trading Volume Surges – Are Chinese Whales Behind the Boost?
Posted inBitcoin Analysis Market Trending

Bitcoin Price Prediction as $17 Billion Trading Volume Surges – Are Chinese Whales Behind the Boost?

May 19, 2024
Bitcoin (BTC) is currently trading at $67,330.50, marking a 0.15% increase in the last 24 hours, with a significant trading volume of $16.3 billion. Maintaining its leading position on CoinMarketCap with a market cap of $1.33 trillion, Bitcoin's recent dynamics are stirring speculation about the influence of Chinese whales on the market. This Bitcoin price ... Read more
Bitcoin Miners Need New Use Cases to Sustain Network Security and Profitability
Posted inBitcoin Analysis Trending

Bitcoin Miners Need New Use Cases to Sustain Network Security and Profitability

May 19, 2024
The security of the Bitcoin network hinges on the continuous addition of new blocks to the blockchain, a task that miners are financially incentivized to perform. Miners' revenues come from transaction fees included in the blocks they mine and from the block subsidy. However, this block subsidy, which halves approximately every four years (most recently ... Read more
Cryptocurrency Market Recap: Bitcoin, Dogecoin, and WIF Gain Momentum
Posted inBitcoin Analysis Market Trending

Cryptocurrency Market Recap: Bitcoin, Dogecoin, and WIF Gain Momentum

May 5, 2024
This week witnessed a mixed performance in the cryptocurrency market, with Bitcoin (BTC), Dogecoin (DOGE), and meme coin Dogwifhat (WIF) making notable moves. Bitcoin's rollercoaster ride began with a bearish tone, as it dipped below $57,000 on May 1 for the first time since late February. However, a swift recovery ensued, driven by bullish sentiment ... Read more
Weekly Roundup: Binance Founder’s Sentence, BTC’s Volatility, and Record Outflows from Spot Bitcoin ETFs
Posted inBitcoin Analysis Trending

Weekly Roundup: Binance Founder’s Sentence, BTC’s Volatility, and Record Outflows from Spot Bitcoin ETFs

May 5, 2024
This week saw a flurry of developments in the cryptocurrency space, ranging from regulatory actions to market turbulence and notable trends in trading activity. Binance founder Changpeng Zhao, also known as CZ, faced a significant legal setback as he was sentenced to four months in prison for anti-money laundering (AML) law violations related to Binance. ... Read more