Bitcoin

Bitcoin (BTC) dropped to weekly lows at the Aug. 17 Wall Street open as upcoming Federal Reserve comments unsettled risk assets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar climbs as Fed minutes due Data from Cointelegraph Markets Pro and TradingView tracked a more than 2% daily decline on BTC/USD, which hit $23,325 on Bitstamp. Already showing signs of weakness, the pair slid further as United States equities began trading, hours before the Federal Open Markets Committee… Source link

Arman Shirinyan Ether has flipped Bitcoin in one important metric, which may set trend for future Ahead of the fundamental Merge update, Ethereum’s trading activity is blossoming with the options open interest overtaking Bitcoin for the first time in history, which technically becomes the first flippening of Bitcoin by Ether, just not in terms of market dominance. Ethereum options open interest have reached $8.2 billion, while Bitcoin’s options open interest is somewhere around $5.4… Source link

Bitcoin (BTC) returned to range resistance on Aug. 17 amid ongoing concerns that a retracement is imminent. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No success for Bitcoin bulls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $24,448 on Bitstamp, up 3.25% from the previous day’s low before diving $600 in under an hour. The momentum gained speed on the day, but the bulls faced familiar resistance at levels keeping them broadly in check since… Source link

Bitcoin has been experiencing a change in holding maturity among owners in recent months. This is further reflected in a significant transfer of wealth with long-term holders capitulating their holdings. A subsequent accumulation has taken place which puts Bitcoin in the hand of low-cost basis owners. A tale about Bitcoin Following the Luna collapse in May there has been a significant changing pattern among long-term holders (LTH). LTH supply has been range bound between… Source link

Back and forth— that has been the momentum of Bitcoin [BTC] since it hit $25,000 on 15 August. While investors may have hoped for a further uptick, it has not been the case that BTC consolidated around the $23,800 support level. Earlier, there had been talks of BTC showing bearish momentum as these projections emerged from unsurprising corners. Economist and extroverted Bitcoin revolter Peter Schiff stated that the number one cryptocurrency was on its way to the ruins…. Source link

Bitcoin has been recovering of late. Alongside, funds providing exposure to the asset have also started faring well. Take the case of Canada’s Purpose ETF itself, for instance. In mid-July, BTCC was trading at its local lows around 3.7 CAD. However, now, its price stands at 4.7 CAD. US’s ProShares Bitcoin ETF has also increased from $11.6 to $14.8 in the same period. When viewed in conjunction, BTC, BTCC, and BITO have all inclined by the same 26%-27% over the past month. Source:… Source link

According to a fresh prediction from crypto analysis firm Arcane Research, miners will continue to sell more BTC than they earn. Miners sold nearly 30% of record BTC stash since May The trip to $25,000 this month decreased pressure on a Bitcoin mining sector which has struggled throughout 2022. At one point, fears abounded that miners’ production cost was far higher than the Bitcoin spot price, and that heavy sales would result in order for miners to stay in business. Worse still, many may… Source link

This is an opinion editorial by Ella Hough, a student at Cornell University, pursuing degrees in cognitive science and moral psychology. Recently, I’ve been looking into some of the numbers associated with Bitcoin. While I haven’t exactly come to an overarching conclusion, I find the very common presence of 0, 1, 2, and 6 together fascinating, along with 3 and 9. The reason for my fascination came after reading the following quote and explanation of Nikola Tesla’s theory that “If you… Source link

FG Trade Thesis Summary Bitcoin (BTC-USD) is described by many as a speculative asset with no practical use. However, there is plenty of evidence to the contrary. Bitcoin is already a currency, and it has the right ingredients to be a store of value. On top of that, there are many other ways in which Bitcoin is adding value and many more that will arise in the future, thanks to the robust ecosystem being built on the lightning network. What many don’t seem to understand, is that Bitcoin is a… Source link

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