Price: $65,120 | Last Year: $26,510
"A person will sometimes devote all his life to the development of one part of his body - the wishbone." -Robert Frost
Crypto markets had about $500M in long liquidation as it lost $100B overnight as Spot Bitcoin ETF outflows hit $146M; led by $FBTC which saw the biggest outflows once again. Is it time to buy the dip or wait? In addition, Bitcoin sees selling pressure from miners and long-term holders amid drop to $64K, according to Bitfinex. Mid-day it appears that the Bitcoin bull market is losing its momentum, analysts warn. They say demand from new investors for BTC is subsiding, which could push short-term investors to start panic selling en masse.
Glassnode Cofounders "Negentropic" believes that Bitcoin bulls might need to keep a vigilant eye on the $64,000 and $65,000 levels, which are emerging as crucial junctures for BTC's price action. Bitcoin analyst 'optimistic' of buying BTC lower as 3 trendlines fail. BTC price heading under $66,000 costs Bitcoin bulls several daily moving averages — and few see a snap recovery coming next.
Bitcoin is in the process of completing this pattern, currently forming the right shoulder, according to the BTC chart presented by Peter Brandt, sparking interest in the potential implications for future price movements. Bitcoin whales and miners remain cautiously optimistic, strengthening the bullish case for $64,300 support.
Exposure to Bitcoin and Ether, the two largest cryptocurrencies, will significantly boost the returns of traditional investment portfolios; Bitcoin price has outperformed the returns from the S&P 500 more than threefold in 2024.
“MicroStrategy is the only corporation that has developed institutional demand for bitcoin linked convertibles,” AB Bernstein analysts Gautam Chhugani and Mahika Sapra
Babylon, a Bitcoin staking protocol, has announced a new chapter of its testnet, including a feature that automatically adjusts fees.
Maybe this is why with the recent price crash, Bitcoin (BTC) long-term investors have been on an accumulation rampage, registering a record inflow average. According to two sources, the so-called “Accumulation Addresses” have acquired over 12,700 BTC and 20,000 BTC.
Auradine collaborates with CPower Energy and Voltus to boost Bitcoin mining efficiency and EnergyTune enables real-time energy adjustments in Bitcoin mining operations; Auradine focuses on sustainable energy use in Bitcoin mining with new partners.
Altcoin Daily
Podcast of the Day: #515: Understanding the Bitcoin Cash and Carry Trade with James Check
OTHER NEWS
Former Coinbase executive Balaji Srinivasan thinks crypto will serve as the money of an artificial intelligence (AI) age.
Ethereum price to $10K is the most 'asymmetric bet' in crypto. Ether’s potential move to $10,000 would result in a 194% price increase from the current levels, but $ETH continues struggling to break the $4,000 mark.
Ether ETF's lack of staking won't dampen strong institutional demand, says 21Shares' Ophelia Snyder. Prospective providers of spot ether ETFs in the U.S. removed provision for staking from their applications to avoid potential regulatory roadblocks. Matthew Sigel, recovering CFA, head of digital assets research at VanEck, says that hedge funds are front-running the approval of $ETH ETFs in the US.
Ethereum Bridge Router Protocol to wants to build its own L1 with strategic funding. The Router Protocol, a bridge that connects Ethereum and BNB Chain, says it'll use new funding to build its own L1.
Bankless
Podcast: How Stablecoins Could Extend Dollar Dominance
