Buyers returned to the Bitcoin (BTC) market, locating interim upside opportunities as the price rebounded to nearly $40,000 on Feb. 25, gaining 16% in less than 24 hours.  Investors bulk up Bitcoin holdings The number of Bitcoin addresses with a balance greater than 0.01 BTC (~$400) reached a record high of 9.51 million, the latest data from Coin Metrics shows. Meanwhile, the number of addresses that hold at least 0.1 BTC (~$3,850) also reached 3.34 million for the first time in history.

If history is a guide, bitcoin may build on Thursday’s rebound from lows under $34,500. That said, the cryptocurrency remains vulnerable to renewed risk aversion in stocks. “This is only a short-term resurge and does not mean that BTC won’t drop below $34,000 in the mid-term,” Liu said. Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of… Source link

“Right now, the markets have the highest demand for liquid instruments, making bitcoin slightly less of a risk than altcoins,” Alex Kuptsikevich, a senior financial analyst at FxPro, said in an email to CoinDesk. “It is likely that a further deterioration in the financial situation could benefit the first cryptocurrency as a means of capital savings for investors from Ukraine, Russia, and some nearby countries.” Source link

Litecoin Climbs 10% In Bullish Trade Investing.com – was trading at $104.100 by 00:39 (05:39 GMT) on the Investing.com Index on Friday, up 10.04% on the day. It was the largest one-day percentage gain since November 9, 2021. The move upwards pushed Litecoin’s market cap up to $7.248B, or 0.42% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B. Litecoin had traded in a range of $103.200 to $106.100 in the previous twenty-four hours. Over the past… Source link

Ethereum price is not out of the woods yet as a bearish target continues to be on the radar. A key technical indicator suggests that there are more sellers than buyers in the market. Ethereum may still face multiple obstacles if buyers enter the market. Ethereum price has rebounded after the recent drop on February 24 while Russian President Vladimir Putin kickstarted its invasion of Ukraine. Despite the optimism in the market, several indicators suggest that ETH… Source link

Global financial markets and crypto markets were pummeled over the past 24-hours as the invasion of Ukraine by Russian forces sent investors scrambling and sell-offs took place across most asset classes. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) hit a low of $34,333 in the early trading hours on Feb. 24, shortly after the Ukraine incursion began, and has since climbed its way back to $38,500 after an unexpected short-squeeze may have rapped… Source link

BackyardProduction/iStock Editorial via Getty Images In recent articles I have been critical of the thesis that Bitcoin (BTC-USD) will become a world currency. The coin fell 50% after I got in ahead of the regulation weakness and I still see the coin being shut out by governments. But if Central Bank Digital Currencies (CBDCs) become a reality then there is a place for Ethereum (ETH-USD) as a dominant blockchain. Ethereum could be a better store of value Ethereum in the cryptocurrency… Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of… Source link

Bitcoin (BTC) edged higher after Wall Street opened on Feb. 24 with Russia’s Ukraine invasion and its aftermath still top on markets’ agenda.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Risk sentiment set to be “dominant driver” in crypto Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $36,400 on Bitstamp two hours after the opening bell, up to $2,000 from its recent lows. Skittish markets faced the music from Russia’s overnight incursion into… Source link