Bitcoin’s break to $25k was fueled by massive liquidations
Bitcoin price broke above $22,500 to new highs above $25,000 amid the hunt for short stops and liquidations. The move to $25k resulted from short liquidations of over $155 million. While price could retreat to $24k, Bitfinex analysts say recent price movements could be indicative of a bottom. Bitcoin price rose above $25k briefly before […]
Bitcoin’s Lightning Network capacity surges to all-time
Lightning Network has reached over 5,490 in Bitcoin payments capacity, an all-time high. Transactions in BTC on the layer-2 payments network have increased roughly 63% since January 2022. The increased Bitcoin micropayments via Lightning Network comes as BTC price retreats below $23k after a great rally to start 2023. Lightning Network’s capacity in terms of […]
Nearly 13 million bitcoins have not moved in over a year, an all-time high
Key Takeaways An all-time high of 12.7 million bitcoins have not moved in over a year That translates to two-thirds of the circulating supply Only 7% of bitcoins have moved in the last month History shows that long-term holders tend to rise as price falls, which may seem counter-intuitive The real story is a little […]
Bitcoin’s “hedge” narrative is dead, as speculative price action continues
Key Takeaways Crypto has risen to start the year off the back of expectations that interest rates may be cut sooner than anticipated This contrasts with the view that crypto is uncorrelated, proving it false Assessing the price action of crypto through the pandemic and subsequent rate-raising cycle shows an extremely risky asset class that […]
Bitcoin’s recovery will depend on a lot of macro-activities affecting the market, says Dan Ashmore
Coinjournal’s Dan Ashmore says numerous factors, including inflation and rate hikes, have affected the prices of most cryptocurrencies. He told CNBC that Bitcoin’s recovery would depend on numerous macro events affecting the market. Bitcoin and the broader crypto market have lost more than 65% of their value since the all-time high of November 2021. Bitcoin’s […]
Analyst charts Bitcoin’s potential rally to $25K by March
Bitcoin price broke above $21,440 on major cryptocurrency exchanges for the first time since the FTX implosion. Much of the buying pressure was retail driven as crypto mirrored stock markets’ Friday surge. Veteran trader and markets analyst Peter Brandt has shared his prediction for Bitcoin price in 2023. Cryptocurrencies roared into the weekend as Bitcoin […]