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Crypto
Bitcoin(BTC)

$43,425.42

1.03%

Market Cap
851.96b
 

1.03%

Volume (24h)
15.92b
 

17.39%

Released on 13 Jul 2010
Crypto
BNB
Venus BTC(vBTC)

$882.29

0.89%

Market Cap
181.61m
 

0.89%

Volume (24h)
440.05m
 

1.22%

Released on 12 Dec 2020
Cointelegraph
Cointelegraph
followers

Bitcoin (BTC) saw continued weakness into Feb. 23 as consolidation accompanied a brief slowdown in institutional investment.  BTC/USD 1-day chart. Source: TradingView Bitcoin ETFs bounce back from day of outflows Data from Cointelegraph Markets Pro and TradingView showed BTC price action struggling around $51,000. Bulls remained caught in a narrow trading zone, in place for more than a week, as concerns surfaced over inflows to the spot Bitcoin exchange-traded funds (ETFs). These slowed considerably in recent days, with Feb. 21 even seeing a net outflow of some $36 million, per data uploaded to X (formerly Twitter) by sources including BitMEX Research. Same data in BTC terms.694 BTC net outflow on 21 Feb 2024 pic.twitter.com/mpqoo44VA2 — BitMEX Research (@BitMEXResearch) February 22, 2024 Feb. 22 saw stronger activity — net inflows of just over a quarter of a million dollars, even accounting for outflows from the Grayscale Bitcoin Trust (GBTC). “Normality resumed a $251M inflow into the Bitcoin ETFs,” James Van Straten, research and data analyst at crypto insights firm CryptoSlate, responded. Continuing on the pace of buying from the ETF operators, Thomas Fahrer, CEO of crypto-focused reviews portal Apollo, predicted that the largest of them, BlackRock’s iShares Bitcoin ETF (IBIT), would in future change BTC supply dynamics. “98% of all the #Bitcoin in existence already costs >100K if you tried to buy it,” he argued alongside a chart of IBIT holdings. “Remember that the current price is just the marginal trade. Blackrock is going to test this theory, so we'll find out soon enough.” Spot Bitcoin ETF holdings (screenshot). Source: Apollo As of Feb. 23, IBIT held 124,535 BTC ($6.35 billion), per data from Apollo’s own ETF tracker. BTC price nears "trend inflection point" Focusing on low-timeframe BTC price analysis, meanwhile, popular trader Skew captured the mood among seasoned market observers. Related: Bitcoin pre-halving ‘pullback’ calls for $45K BTC price support retest The uptrend, he concluded, remained intact, but important support levels were now coming back into play. These were the 88-period and 100-period exponential moving averages (EMAs) on the 4-hour chart at $50,017 and $49,654, respectively, along with the 18-period EMA on the daily chart at $49,645. “Currently price trades around range low & 4H 55EMA which typically is a near term trend inflection point, meaning momentum picks up soon,” part of his latest X analysis read. “Buyers & Sellers likely to fight here for control.” BTC/USD 4-hour chart with EMA data. Source: TradingView This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

2 days ago
Crypto
BNB
BULL BTC CLUB(BBC)

$4.26e-4

-5.34%

Market Cap
N/A
 

Volume (24h)
589.64k
 

-2.03%

Released on 27 Oct 2022
Coinpedia
Coinpedia
followers

The post Bitcoin Halving Sparks Bullish Sentiment as Analysts Predict BTC Price Surge to $273,000 appeared first on Coinpedia Fintech News Bitcoin is set to undergo its Fourth halving, a phenomenon that has historically been associated with significant price rallies. Meanwhile, some analysts are now predicting that the world’s leading cryptocurrency could skyrocket to an impressive $273,000, citing a robust demand-supply ratio and historical market trends. Daily Investments Inflow vs. New Bitcoin  In a recent tweet post, crypto analyst Willy Woo shared some important information about Bitcoin. He mentioned that every day, around $607 million in new investments is coming into the Bitcoin network.  The #Bitcoin network is receiving an average of $607m per day of new investor demand** while this is being met by $46m per day of new supply in the form of new coins being mined. We are now 60 days away from seeing new supply being halved. pic.twitter.com/oZGkrXeFt0 — Willy Woo (@woonomic) February 23, 2024 On the flip side, only about $46 million in new Bitcoin is being created each day through mining. What makes this interesting is that we’re approaching a moment when the creation of new Bitcoin will be cut in half.  According to his analysis, this supply reduction is just 60 days away, signifying a potential turning point for the leading cryptocurrency.  However, to calculate new demand, Woo employs the change in the realized cap, a metric that reflects the cumulative price investors paid for their Bitcoin holdings. However, it’s important to know that this method might not capture all the buying and selling happening off the main Bitcoin network. MacronautBTC Arithmetic Calculation In response to Woo’s data on daily demand and new supply, MacronautBTC performed arithmetic, where the daily demand for Bitcoin, estimated at $607 million, exceeds the daily new supply by $23 million. Further, by deducting the daily new supply from the daily demand, we get a notable $584 million daily demand.  Hows my arithmetic:Assume from halving:$607M daily demand minus $23M daily new supply =$584M daily demand * 250 trading days in a year = $1.46T new ADD'L mkt cap.~every 1T in market cap is $50k in $BTC price, right? So that would be a new #bitcoin price of $123k.(cont'd) — MacronautBTC (@Macronaut_) February 23, 2024 When projected over 250 trading days, this translates to a substantial additional market capitalization of $1.46 trillion. According to MacronautBTC’s calculations, every $1 trillion increase in market capitalization corresponds to a $50,000 surge in Bitcoin’s price. Using this metric, the expected additional market capitalization of $1.46 trillion could potentially drive Bitcoin’s price to reach $123,000. Bitcoin at $273,000! Further taking a cautious approach, MacronautBTC adopts a “multiplier” method, in line with fellow analyst Willy Woo. This method suggests a potential threefold increase in Bitcoin’s value relative to the USD inflow.  By combining this multiplier with the projected additional market capitalization, MacronautBTC envisions an overall market capitalization of $5.38 trillion within a year, leading to a Bitcoin price surge to $273,000. While projections in the crypto market are speculative and contingent on various factors, MacronautBTC’s response underscores the positive sentiment surrounding Bitcoin, especially as the halving event approaches.

3 days ago
U.Today
U.Today
Bitcoin (BTC) Price to Hit $63,000 in March, Matrixport Predicts
2 days ago
Crypto Web3 Today
Crypto Web3 Today
followers

BTC and ETH Price Prediction for February 22. BTC/USD. The price of Bitcoin (BTC) has declined by 0.07% over the last 24 hours. On the daily chart, the rate of BTC is coming back to the recently formed support level of $50,647. If buyers cannot seize the initiative by the end of the day, the accumulated energy might be enough for a breakout, followed by a move to the vital $50,000 zone. Bitcoin is trading at $51,177 at press time. ETH/USD. Unlike BTC, the rate of Ethereum (ETH) has increased by 1.27% since yesterday. From the technical point of view, the price of the leading altcoin is trading sideways, as neither bulls nor bears have seized the initiative yet. However, if the rate gets to the $2,900 zone, there is a chance to see a test of the $2,800-$2,850 area shortly. Ethereum is trading at $2,942 at press time.

3 days ago
Cointelegraph
Cointelegraph
followers

Bitcoin (BTC) is due a “pullback” around its next block subsidy halving, but the timing remains unclear. In his latest YouTube video on Feb. 20, popular trader and analyst Rekt Capital predicted BTC price action copying the 2016 and 2020 bull runs. Bitcoin analyst mulls timing of 2024 "pre-halving retrace" Bitcoin has ranged within a narrow corridor for over a week, with $52,000 acting as a resistance zone. While this has taken its toll on sentiment — as well as altcoin price performance — seasoned market observers remain optimistic. Analyzing previous runs to all-time highs, Rekt Capital identified key phases common to both bull market setups. “In the past, a macro downtrend break always precedes upside going into the halving,” he explained. “Then we have a pre-halving retrace and then a post-halving reaccumulation period and then parabolic price action toward new all-time highs.” An accompanying chart showed BTC/USD breaking its initial downward-sloping trend line, only to get caught in a resistance zone previously formed by it. Breaking through and then retesting as support — the “pre-halving retrace” phase — is what is missing in 2024 so far. “We’re going to have the same thing in this cycle as well,” Rekt Capital continued. The zone of interest when it comes to the pre-halving pullback lies at around $45,000, data from Cointelegraph Markets Pro and TradingView confirms. BTC/USD 1-month chart with Rekt Capital's retracement zone. Source: TradingView “The question is, ‘Are we going to retest this resistance this month in the pre-halving period?’ because notice how we are never able to do that in the pre-halving period across time,” he queried. Earlier, Rekt Capital concluded that BTC/USD had fully entered its pre-halving run-up, now adding that key price events were coming quicker this cycle than before. Sub-$50,000 BTC price levels come into focus Commenting on current price action, meanwhile, others saw little reason to flip bearish on the market amid the rangebound moves. Related: Why is Bitcoin price down today? “Bitcoin is trading at the exact same price as it was 7 days ago,” Caleb Franzen, founder of research platform Cubic Analytics, told subscribers on X (formerly Twitter) on Feb. 22. “Fluctuating between $50.6k & $53k for the past 7 days, but the lowest daily close has been $51.6k (which is also right where it's trading right now). I really don't understand the panic or the bear victory laps.” Responding, analyst Matthew Hyland broadly agreed, noting the significance of the 0.618 Fibonacci retracement level from all-time highs just above $48,000. “If $49k folds then the picture changes but consolidation in an uptrend favors a continuation of the uptrend,” he nonetheless cautioned. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

4 days ago
Mahjabeenf41
Mahjabeenf41
followers

📌Bitcoin (BTC) is currently in a phase where its price is fluctuating within a certain range. This means the price moving between support and resistance .However, until the price goes above a certain level, we might not see a big change in how people feel about the market🍀. So, it's important to keep an eye on that level and wait for a clear sign before making any big decisions about the market. 📈👀🚀 #Write2Earn Second update about Sui I think the Sui chart we made earlier was exactly right🌟 The Sui is moving down just above our entry point✨ This means we can go up by taking the entry from here. But BTC needs to break the 53,300 resistance. Then we can make some big decision!! #TrendingTopic Best of luck 🍀 📍Like , Comment and Follow 📍 📍For More Updates 📍 ✨*@Mahi_queen123*✨

4 days ago
FortuneNodeOfficial
FortuneNodeOfficial
followers

#BTC/USDT Update: #Bitcoin‬ is currently trading around $51,000. It's stuck in a sideways pattern on the 4-hour chart, forming a rectangle. There are two likely outcomes: If the price goes up and breaks out of the rectangle, we might see a bullish trend. On the other hand, if the price drops and breaks below the rectangle, a bearish trend could follow. Keep an eye out for more updates! ✅ $BTC $ETH $BNB #Write2Earn

2 days ago

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