Bitcoin (BTC) and the crypto market have been accelerating heavily in recent weeks, as Bitcoin has surged by 60% from the July lows, while Ether (ETH) has been showing strength with a 90% rally as altcoins have been seeing massive gains across the board. The sentiment has flipped heavily as well. Three weeks ago, the majority of the people were discussing a potential breakdown to $20,000, including the effects of a death cross. But now, a golden cross could happen on Bitcoin with a potential… Source link

Bitcoin (BTC) reserves on derivatives exchanges have dropped to levels last seen before the May price crash. Data from on-chain analytics service CryptoQuant confirmed that as of Tuesday, derivatives reserves totaled 1.256 million BTC — the least since May 11. Institutions repeat Q4 2020 Against a backdrop of institutional interest returning to cryptocurrency instruments such as the Grayscale Bitcoin Trust (GBTC), figures show that major players have in fact been adding to their BTC holdings… Source link

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Ethereum Ethereum fell by 0.64% on Tuesday. Following a 4.92% rally on Monday, Ethereum ended the day at $3,142.09. A mixed start to the day saw Ethereum rise to an early afternoon intraday high $3,235.10 before hitting reverse. Falling short of the first major resistance level at $3,271, Ethereum fell to a late afternoon intraday low $3,051.00. Steering clear of the first major support level at $2,973, however, Ethereum revisited $3,190 levels before easing back. At the time of writing, Ethereum… Source link

The theoretical deflationary properties of Ethereum’s London upgrade last week have already been seen in action on the blockchain with almost 800 “deflationary blocks” produced. A spike in the Ethereum transaction fee burn rate has resulted in at least two hours when the supply was deflationary. The network has come under heavy load over the past couple of days which has resulted in a lot more gas being burnt. Around four hours ago (as of 22.00 UTC), the ‘ETH Burn Bot’ recorded an… Source link

Bitcoin pulled back on Tuesday after a nearly 20% rise over the past week. The cryptocurrency was trading at around $45,000 at press time and is down 2% over the past 24 hours, compared with a nearly 1% loss in ether over the same period. Analysts remain optimistic about bitcoin despite regulatory uncertainty in the U.S. regarding crypto tax rules.  “The crypto sector itself is new, and leaning on a nascent technology industry for taxes could impair its growth,” Lucia della Ventura, a… Source link

Bitcoin to $100,000. Bitcoin to the moon. Bitcoin to infinity. The world’s largest cryptocurrency is staging a comeback that has taken it up more than 50% from recent lows, reviving animal spirits and coaxing out sky-high price targets that, while a source of comedy for some, emerge when the asset is rallying. Source link

Key Takeaways Ethereum has gained over 1,200 points since Jul. 22. Multiple indexes now anticipate a correction given the significant gains. Transaction history shows that ETH’s downside potential might be capped at $2,770. Share this article Market participants have rushed to buy ETH following Ethereum’s much-anticipated London hardfork. Although prices have risen due to the growing demand, some technical and on-chain metrics suggest that a spike in profit-taking is underway. 

There is no guarantee that Litecoin will continue to deliver the blockbuster returns in the future. However, there is a high chance the crypto will continue to rise from its current price. First, with LTC coin trading 60 percent below its all-time high, there is still an incentive to try to buy the dip. Second, LTC coin’s uptake as a payment is expanding. BitPay recently added support for Litecoin, allowing its large network of merchants, which includes Newegg, to accept the altcoin. BitPay… Source link

Institutions have not left the Bitcoin (BTC) market even in the face of a 50%-plus bearish correction earlier this year, shows data provided by Glassnode. The blockchain analytics platform reported on Monday that the dominance of Bitcoin transactions exceeding $1 million has surged twofold since September 2020 — from 30% to 70% of the total value transferred. Since retail investors do not typically engage in large-volume transactions, Glassnode guesses that the institutional investors might… Source link