Even with Bitcoin’s recent unprecedented surge, the resurgence of ‘Bitcoin millionaire wallets’ or on-chain Bitcoin whales is more gradual than expected. The number of new Bitcoin millionaire wallets created daily has risen to approximately 1,500, in accordance with the digital currency’s ascent to …
Gradual Re-emergence of Bitcoin Millionaire Wallets Despite Record Peaks Read More »
Despite market apprehension, Bitcoin Coinbase Crypto Exchange, a prominent player in the crypto world, anticipates that Genesis’ approved GBTC sell-off won’t shake the crypto market. Genesis, a bankrupted crypto lending company, has received the go-ahead to liquidate approximately $1.3 billion GBTC, causing concern for a potential Bitcoin price drop. However, the bitcoin coinbase crypto exchange asserts that majority of the funds will stay within the crypto ecosystem, thus, mitigating possible e
Bitcoin’s price has recently experienced a hefty surge, crossing the $52,000 mark. This sharp increase reflects a vigorous demand for Bitcoin exchange-traded funds, which, as per CryptoQuant, make up over 75% of fresh Bitcoin investments. Yet, the price analysis cryptocurrency indicates a potential resistance around the $52,000 mark, hinting at an imminently saturated market. While it’s difficult to pinpoint when this surge will climax, history has taught us that every euphoric period in the cry
Price Analysis Cryptocurrency: Bitcoin ETF Demand Soars, But $52,000 Resistance Looms Read More »
The impending fourth Bitcoin halving event has triggered an over 8% increase in Bitcoin mining difficulty, recording a new all-time high. This alteration, which adjusts every 2,016 blocks according to miner count, maintains the block production ratio as more miners join. Despite cryptocurrency restrictions in China and a bear market in 2022 and 2023, the Bitcoin mining difficulty has quadrupled since February 2021, exceeding 81T. This surge indicates the steadfastness of the Bitcoin network, par
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In the past few days, an impressive surge has been observed in Bitcoin ETF Inflows, accumulating over $2.2 billion. This amount exceeds the total accumulated during the initial month of trading. This sudden influx is seen by market observers as a major propellant for Bitcoin’s rally, which has driven its price past the $52,000 threshold. Notably, ten spot Bitcoin ETFs have experienced increased interest, drawing in 43,300 Bitcoin within a mere four days. This is significant as it previously took
Bitcoin ETF Inflows Soar, Outdoing Initial Month of Trade Read More »
