Bitcoin price is closely linked to several financial assets but the reasons for correlation with certain precious metals and stocks can be quite different. The financial media often points out Bitcoin’s correlation to big tech. “Bitcoin is trading like a tech stock” is a common narrative alongside BTC’s often acute inverse-relationship with the United States dollar. But…
295 ViewsBitcoin’s price fell approximately 8% in a span of 10 minutes, leaving crypto investors scrambling to make sense of the drop. Elon Musk’s SpaceX reportedly selling its Bitcoin holdings, the bankruptcy of a Chinese property giant, and fears of interest rate hikes have been among the theories raised as to Bitcoin’s freak price dip. On Aug. 18 around…
244 ViewsEven if the filings for Bitcoin spot ETFs are rejected, Lee predicts Bitcoin’s halving event will still push up BTC’s price — but not to six figures. The price of Bitcoin will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved,…
242 ViewsBitcoin price is stuck today, but several data points suggest it won’t be for too much longer The price of Bitcoin is stuck, fluctuating inside a narrow trading range with futures markets remaining flat nearing all-time lows. Why is Bitcoin price stuck? Bitcoin price is going through an unusually calm period, with several volatility indicators reaching…
251 ViewsBitcoin whales account for the most exchange inflows volumewise since June 2022 as short-term holders become increasingly active. Bitcoin whale buying and selling in 2023 is mostly from speculative investors, new data reveals. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode shows that contrary to popular belief, opportunistic entities are the most…
268 ViewsThe Ordinals Protocol is generating a circular digital economy where assets are priced, bought and sold via Bitcoin. In an email dated Jan. 17, 1993, Hal Finney — a developer and early contributor to Bitcoin — shared the concept of “encrypted digital cards,” which are now known as nonfungible tokens (NFTs). “Giving a little more thought…
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