The Bitcoin price has seen a significant decrease of more than -22% since the mid-March high of over $73,000. While the current price of BTC is hovering around $57,000 after the recent crash, there is speculation that there could be further downside ahead if history repeats itself. Jacob Canfield, a trading mentor at Trading Mastery,
Mining
Bitcoin’s recent drop below $54,000 has caused quite a stir in the crypto community. Many are quick to label this as the end of the bull market, while others see it as a natural ebb and flow in Bitcoin’s growth trajectory. The market correction, as reported by CryptoPotato, is one of the most severe since
The impending distribution of 142,000 BTC by the defunct crypto exchange Mt. Gox has significantly stirred market anxiety. This amount, representing 0.68% of the total Bitcoin supply, is slated for distribution among the creditors of the exchange, which ceased operations in 2014 due to a major hacking event. The distribution process has already seen large
The Bitcoin network is currently displaying signs of miner capitulation. This phase is characterized by miners either shutting down their operations or selling off a portion of their Bitcoin reserves. Following the recent halving, the network hash rate has decreased by 7.7% from its peak on April 27. This decline indicates that less efficient miners
Tom Lee, the head of research at Fundstrat, has once again reiterated his prediction that Bitcoin will skyrocket to $150,000. Despite the current bearish trends in the market, Lee remains optimistic about the future of the pioneer cryptocurrency. In a recent interview with CNBC Television, he emphasized his belief that Bitcoin will reach new all-time
The latest analysis from CryptoQuant highlights several key on-chain metrics that could indicate a potential bottoming out of the bitcoin price and a resurgence in cryptocurrency prices. One of the crucial signals to watch is the Bitcoin Bull-Bear Market Cycle indicator, which is currently showing that the market is at its least bullish state since
The cryptocurrency market has been experiencing a turbulent period, with Bitcoin’s price performance in June leaving many investors disappointed. The recent decline in Bitcoin’s price has raised concerns among traders and analysts about what to expect in July and the coming months. Crypto analyst Zen has provided a critical assessment of different scenarios that could
CleanSpark, a major player in the Bitcoin mining industry, recently made headlines with its acquisition of GRIID Infrastructure in a $155 million all-stock deal. This acquisition immediately added 20 megawatts (MW) of power to CleanSpark’s operations, with an additional 400 MW expected to be added in Tennessee over the next two years. The merger required
Bitcoin, the leading cryptocurrency in the market, seems to be facing a critical juncture as it approaches a key moment. After a strong performance in the first half of 2024, where it broke through the important $71,000 mark, it has since retreated and is now hovering around the crucial $61,000 support level. This recent dip
Spot Bitcoin ETFs have recently experienced a concerning trend of outflows for seven consecutive days. These outflows have been averaging around $100 million daily, totaling to approximately $1.2 billion pulled out from the funds so far. This decline has been closely linked to the drop in the Bitcoin price, indicating a possible correlation between institutional