Price Hits $47k; Analyst Predicts This Bull Run Will Last
The cryptocurrency market is on strong bullish grounds this new week. Bitcoin the benchmark cryptocurrency soared to a price of over $47,000, a price level last held on January 3 of this year. Large shorts liquidations causing Bitcoin’s price rally Market behavior analysis tool Santiment argued that the recent price increase was caused by a large number […]
Bitcoin (BTC) Is Back To $41,000, But Here’s Why Retail Investors Shouldn’t Purchase Yet
Bitcoin (BTC) makes an unexpected surge to the north just a day before the Federal Reserve intends to announce its first rate hike in four years. Bitcoin is now trading 5% up above $41,000 at the time of publication. Bitcoin has now climbed back above $40,000 for the third time in three weeks. Retail investors, however, […]
207,000 Bitcoins Have Exited Exchanges From Late July Till Present
Despite the market’s current bearish trend, Bitcoin balances on leading exchanges continue to be a source of bullish expectations. According to Glassnode’s latest on-chain analysis, there have been large outflows of Bitcoin from the market, with the exception of a few exchanges. The Bitcoin exchange balances are edging closer to relative equilibrium. The market appeared to be […]
Bitcoin (BTC) Drops Below $40k Ahead Of Red-Hot Inflation In The United States
Bitcoin (BTC) paused its recent climb, sliding 5% to $39,600, as traders remained cautious ahead of U.S. inflation data on Thursday, which is expected to reveal a massive spike in consumer prices through March. The token was also adopted by the majority of popular altcoins. Consumer prices in the United States rose 7.9% last month, […]
Bitcoin (BTC) reclaims $41,000, with Terra’s LUNA leading the altcoin rally
Today, the larger cryptocurrency market is up 5%. Bitcoin (BTC) has rebounded 7% to $41,500 levels, which is a surprising move. Following a period of high volatility in the market, the market has recently rebounded. The anticipated executive order from the Biden administration appears to be getting a thumbs up from the market. Given the current geopolitical circumstances resulting from the ongoing Russia-Ukraine military crisis, Bitcoin and the crypto market as a whole can play a significant role. Commodity prices have been rising recently, with gold taking center stage. Risk assets, such as Bitcoin and stock, have, on the other hand, experienced significant losses. However, according to Santiment, an on-chain data provider, crypto debates are picking more steam. DBS Holdings Group Ltd. Chief Executive Officer Piyush Gupta stated in his recent report on March 9 that private cryptocurrencies such as Bitcoin will continue to emerge as a substantial store of wealth. He continued, “ Regulators and politicians “will be loath to give up control of monetary policy and economic management tools, and will therefore be very circumspect about letting private money grow. Having said this, I do think that private money (crypto) will continue to grow as a meaningful store of value, […]