Bitcoin (BTC) reached the $31,000 mark for the third time this year on June 25 as the weekly close promised volatility. The BTC price movements were focused on yearly highs. Despite the cool-off in volatility against the U.S. dollar, Bitcoin did manage to set new records in three countries this week. The countries where BTC
Analysis
Bitcoin (BTC) has continued to maintain its price action around $30,000 as traders await the cryptocurrency’s next move. The market has experienced a second day of sideways trading following the prior upside that stalled close to the yearly high at $31,000. Traders are trying to predict the cryptocurrency’s next targets, but there has been no
Bitcoin’s sudden 15% surge towards $30,300 between June 19 and June 21 caused $125 million in liquidations of leveraged short futures contracts, taking traders by surprise. While pinpointing the exact cause of the rally is complicated, some analysts suggest that an inflow of institutional investors could be a potential trigger if BlackRock’s exchange-traded fund (ETF)
Ethereum has been the leader in the smart contract and decentralized application (DApp) network since its inception. The analysis of Ether’s price (ETH) and market capitalization provides indisputable evidence that the blockchain has been gaining market share. Over the past couple of years, Ether’s dominance in market capitalization terms has grown from an average of
Bitcoin’s price action has often been compared to that of other assets, particularly gold and tech stocks. The narrative of “Bitcoin trades in tandem with tech stocks” was prevalent in 2022 and early 2023 when a correlation existed between the two. However, since that correlation has broken down, there hasn’t been much news coverage. Now,
Bitcoin (BTC) has seen a rally of 24.3% between June 15 and June 23, bringing its trading value above $31,000. This unexpected surge caught many off guard, leading to $165 million in short futures contract liquidations for bears. However, investors using Bitcoin derivatives also felt some discomfort from the sudden rally. The biggest question mark
Pepecoin, a frog-themed token on Ethereum, rose to prominence in May 2023, leading the memecoin hype on Ethereum. While many copycats of dog-themed tokens, such as Shiba Inu and Floki, have challenged Dogecoin’s position over the years but eventually faded, Pepecoin could be the newest contender to Dogecoin in the memecoin sector. Pepecoin’s Performance Compared
On June 15, the total market capitalization of cryptocurrencies fell to its lowest level in three months, reaching $1.02 trillion. The past few weeks have seen a bearish trend fueled by regulatory uncertainty. While Bitcoin (BTC) and BNB (BNB) saw gains of 2.5%, XRP (XRP) dropped 5.2%, and Ether (ETH) traded down 0.7%. The 10-week-long
According to analytics firm Glassnode, Bitcoin (BTC) is expected to face a period of “boredom” lasting up to one-and-a-half years as the bull market gathers momentum. In its latest weekly newsletter, “The Week On-Chain”, the firm predicted an “arduous” time for BTC holders as the cryptocurrency struggles to hold its ground, despite gaining 70% in
ARK Invest CEO and Chief Investment Officer Cathie Wood has revealed that her flagship fund, Ark Innovation (ARKK), is adding to its position in Coinbase (COIN) despite the Securities and Exchange Commission (SEC) lawsuit against Binance, one of Coinbase’s biggest competitors. According to disclosure statements, ARKK purchased almost 330,000 shares of COIN on June 6,