Bitcoin

According to Cole Garner, a well-respected on-chain analyst, there is a 2,800 BTC sell wall on Binance. With Bitcoin (BTC) price currently trading at $10,700, this is equivalent to a batch of sell orders worth $30 million on just one exchange. While it does not necessarily indicate that a market-wide pullback is imminent, it hints that a major rally remains unlikely. In the short term, BTC likely faces a low-volatility range between $10,500 and $11,000, two key support and resistance levels.

Bloomberg analyst Mike McGlone has predicted that the price of bitcoin will hit $100,000 by 2025. McGlone premised his argument on past bitcoin trends, including the period in which the price took four years to go from $1,000 to $10,000 in 2017. “So, doubling that time frame for maturation could get the price toward $100,000 in about five more years,” he said, in Bloomberg’s Crypto Outlook report for October. “Most demand and adoption measures indicate bitcoin is more likely to stay… Source link

China may be behind a large spike in new Bitcoin (BTC) addresses as authorities launch a “targeted marketing campaign” — in favor of crypto. In a series of tweets on Oct. 5, analyst and market cyclist Cole Garner highlighted a two-year record increase in new BTC addresses last week. Using data from on-chain monitoring resource Glassnode, Garner noted that around 22,000 new Bitcoin “entities” appeared on one day alone. The normal level is between 5,000 and 10,000 per day. “New… Source link

Since September 2019, research shows the Federal Reserve has pumped over $9 trillion to primary dealers by leveraging enormous emergency repo operations. A recently published investigative report shows the U.S. central bank submits the daily loan tally, but the Fed will not provide the public with information concerning the recipients. Estimates say, in 2020 alone, the U.S. has created 22% of all the USD issued since the birth of the nation. The U.S. Federal Reserve has printed massive… Source link

The Crypto for Congress initiative has launched. All members of Congress will be given bitcoin as campaign contributions to help them learn about cryptocurrency. The initiative is supported by Congressional Blockchain Caucus members, including pro-crypto Representatives Darren Soto and Tom Emmer. Each Congress Member Receiving Bitcoin Contribution The “Crypto for Congress” initiative has launched, the Chamber of Digital Commerce announced Monday. “Today, all members of the United States… Source link

Bitcoin (BTC) whale clusters point toward three critical price levels to maintain a bullish market structure in the near term. Whale clusters form when large investors purchase Bitcoin and do not move it, making it an unspent transaction. These clusters typically indicate where crucial support levels exist and the logic is that BTC needs to maintain this level to see a prolonged rally. According to data from Whalemap, the three important support levels marked by whales are $10,407, $10,570,… Source link

Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is “conservative” and those levels should hit in less than two years. That was according to Blockstream CEO Adam Back, who delivered a fresh bullish BTC price outlook on Oct. 5. Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor ARK, who in September forecast a Bitcoin market cap of $1–5 trillion by 2030 at the latest. ARK is well known for its enthusiastic price forecasts for Tesla… Source link

Tether’s Stablecoin Dominance Drops Below 80% as Audit Controversy Lingers On The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows. According to the data, USDT now accounts … read more. New Zealand Tax Agency Asks Crypto Firms to Hand Over Clients’ Personal Data The Inland Revenue Department (IRD) of New Zealand has requested that crypto… Source link

There is growing speculation that 150,000 Bitcoin (BTC) from the Mt. Gox trustee could move on Oct. 15. But many factors suggest that is highly unlikely given past records. Between 2011 and 2013, Mt. Gox lost 850,000 BTC in the biggest hacking attack in Bitcoin history. The trustee reportedly has 150,000 BTC to repay users who lost their funds from the breach. Yet, there are many hurdles to undergo before the refunds can be issued. The refund process has been continuously delayed since 2019,… Source link

Bitcoin (BTC) rose to highs of $10,730 before settling lower on Oct. 5 as markets fluctuated in line with United States President Donald Trump contracting COVID-19. Cointelegraph takes a look at the factors set to influence BTC price action this week, as the virus and its consequences dictate the macro mood. Trump health sends markets higher President Trump buoyed markets late Sunday as traders priced in the possibility that he would leave hospital on Monday after treatment for COVID-19. Futures… Source link