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  • BTC touches $25k as crypto rallies

    BTC touches $25k as crypto rallies

    • Bitcoin reached highs of $25,230 across major exchanges, its highest price level in over six months.
    • BTC price moved above its 200-week moving average’
    • Analysts say bulls could target fresh gains as a bullish signal flashes.

    Bitcoin broke above $25,000 as the momentum that pushed the flagship cryptocurrency higher on Wednesday continued into Thursday.

    At around 11:15 am ET, the price of Bitcoin against the US dollar was up 10.7%, with BTC trading at $25,093 after briefly touching highs of $25,230 across major exchanges. Despite shedding some of the gains, BTC looks poised for further upside action should bulls successfully retest and hold prices above the critical $25,100 level.

    Bitcoin price update: bulls eye new 2023 high

    Today’s rally comes on the back of decent gains though, and crypto analyst Mohit Sorout earlier pointed to what he calls “the mother of all bullish signals.” Just before BTC hit the new year-to-date highs, the analyst wrote:

    “The mother of all $btc bullish signals has flashed – DCA indicator. Historically, it has flashed only thrice in btc’s existence & each occurence led to massive rallies of 7400% (2015), 160% (2019) [and] 640% (2020). Today marks the 4th time this signal is suggesting a raging bullmarket.”

    PlanB, the creator of the stock-to-flow price model, shared the chart below showing Bitcoin’s rally on Thursday came as BTC price broke above the 200-week moving average.

    What could happen next for Bitcoin? Well, a retreat to support above $24k or lower to $22.5k is possible before a slow grind pushes it up again. But according to pseudonymous analyst Moustache, $28k is very much achievable.

    BTC spike sees $230 million in liquidations

    Bitcoin’s gains pushed its market capitalization to $526 billion, while a 7.9% jump in the total crypto market cap had the top altcoin Ethereum trading above $1,730 with double digit gains. Among the top ten cryptocurrencies, Polygon and OKB were also up more than 10%.

    As prices rallied, traders who’d bet on broader declines were caught unawares, with over $230 in shorts liquidated. Liquidation data showed Bitcoin-tracked futures led with over $99.6 million in liquidations while Ethereum saw more than $64 million in liquidations in 24 hours.

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  • BabyDogeCoin Continues To Trend On Binance Top Crypto List

    BabyDogeCoin Continues To Trend On Binance Top Crypto List

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  • BabyDogeCoin Continues To Trend On Binance Top Crypto List

    BabyDogeCoin Continues To Trend On Binance Top Crypto List

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  • UNITY – NEXT BIG CRYPTO PROJECT & EXCHANGE

    UNITY – NEXT BIG CRYPTO PROJECT & EXCHANGE

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  • CRYPTO-UNITY – NEXT BIG THING IN THE CRYPTO WORLD

    CRYPTO-UNITY – NEXT BIG THING IN THE CRYPTO WORLD

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  • Crypto markets rallying but damage remains severe

    Crypto markets rallying but damage remains severe

    Key Takeaways

    • Bitcoin is up close to 50% from its lows, but is still down over two-thirds from all-time highs
    • Some on-chain metrics show how much the rally pales in comparison to the prior fall 
    • Positive news from the industry remains few and far between, as market prepares for latest interest rate policy, to be revealed at FOMC meeting Wednesday

    Let us start with a riddle. How much profit/loss have you made if an asset you own rises by 47%, having previously fallen by 77%?

    The answer is a gruesome 67% loss. 

    That is the predicament facing Bitcoin investors who bought at all-time highs in late 2021. While markets have kicked off the year in scintillating fashion, it is important not to lose perspective. 

    Humans have short memories, though. With Bitcoin up nearly 50% from the lows post-FTX collapse, crypto markets have that giddy feel about them again. It’s amazing what hope can do for people, huh? And by hope, I mean hope that interest rates will come down again.

    Federal Reserve controls the Bitcoin price

    I wrote a piece last week about how this latest rally, if it shows anything, simply proves once and for all how much Bitcoin is trading as an extreme risk-on asset. 

    Bitcoin was crushed last year as central banks worldwide flipped hawkish for the first time in Bitcoin’s existence. With the cheap money of the last decade no longer available, and stout yields available on other investments such as T-bills, high-risk assets collapsed. 

    The tech sector, also notoriously sensitive to interest rates, has been sacking employees left, right and centre – Meta, Salesforce, Twitter, Google, and the list goes on. 

    This latest rally now comes as inflation begins to cool, with hope renewed that the pain of suffocating monetary policy will, in fact, one day come to an end. 

    Market remains ravaged

    While the picture undoubtedly looks rosier than this time two months ago, the crypto market is still in a world of pain. 

    Bankruptcies are still flowing – see Genesis filing last week – while there are numerous other potential downside catalysts as the market still delves through Sam Bankman-Fried’s chaotic mess: DCG still present a lot of uncertainty, for example.

    While prices have been running, there is no particularly good news to explain this rally. As I said, it’s all macro, with investors staring squarely at the Federal Reserve. 

    A couple of charts paint a good picture of the pain still present in markets. Despite the recent upturn, the net realised profit marker, which is an on-chain metric calculated by comparing the price of recent coins moved to the price at which they previously moved, shows how much the recent rally pales in comparison to the scale of the fall last year. 

    In truth, there is no need to complicate things. Despite the bluster of “hedge” narratives and “uncorrelated investment” that floated around through COVID, it is as clear as night and day that Bitcoin is trading off interest rate expectations right now. 

    The below chart is perhaps the most important one in all of crypto over the last couple of years. 

    That little bounce at the end could reverse very quickly depending on how things shake out at the upcoming Fed meeting. It could also do the opposite if things end up being more hawkish than the market has currently priced in. 

    Either way, it is clear what is moving markets right now.

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  • Crypto stocks outlook ahead of FOMC meeting

    Crypto stocks outlook ahead of FOMC meeting

    • Bitcoin miners Core Scientific rose 33% as stocks of Bitfarms, Stronghold Digital, CleanSpark all ended the past week higher.
    • Coinbase and Robinhood shares also rose as Bitcoin broke above $23,000.
    • FOMC meeting is this week and the market reaction will be key to what next for Bitcoin and crypto stocks.

    A number of crypto-related stocks are looking to extend gains notched in the past few days after closing in positive territory on Friday.

    Among those to rip are share prices of crypto mining firms that had been struggling badly after reaching new all-time lows amid the crypto winter. 

    This is happening even as Bitcoin price looks to push higher after holding above the $23,000 level over the weekend. A crucial macro news event to watch out for is the FOMC meeting this week.

    Surge in Bitcoin price helped crypto stocks

    Core Scientific (CORZ), the world’s largest publicly-traded Bitcoin miner, surged an impressive 33% on Friday, while crypto mining firm Digihost Technology (DGHI) saw its shares jump more than 11%.

    Stocks of NASDAQ-listed miners Bitfarms (BITF), Stronghold Digital Mining (SDIG), Bit Digital (BTBT) and CleanSpark (CLSK) all ended the week in the green. Elsewhere, NYSE-listed Bit Mining and SOS ADR also rose.

    Coinbase (COIN) and Robinhood (HOOD) stocks also traded higher, with the US-based crypto exchange’s stock soaring more than 15% on Friday. Coinbase‘s stock is up more than 73% in the past 30 days before markets open on Monday, 30 January. Robinhood shares ended the week 8% higher and were up nearly 28% over the past 30 days.

    Bitcoin price, FOMC – what next for crypto stocks?

    As noted, most of these publicly listed crypto companies saw their share prices soar alongside the positive price action of Bitcoin. But crypto has also largely correlated with stocks, with this week crucial in terms of the Federal Open Markets Committee (FOMC) meeting. 

    On the positive side of things…

    BTC/USD reached highs of $23,955 last week and is up more than 40% year-to-date. According to recent data from crypto analytics platform Glassnode, BTC’s recent upside momentum has the flagship digital asset’s price above three key on-chain metrics.

    The breakout above $22,800 had Bitcoin above both the long term and short term cost-basis as well as Realized Price – the first time this has happened since 2020 COVID-19 induced crash. Also, the previous time when prevailing BTC price was above the three metrics was during the 2018/19 bear market.

    On the flipside…

    As covered by CoinJournal, Glassnode suggested last week that bulls managing to hold above the $22.4k level would aid sentiment and potential further gains. However, this week could see recent momentum derailed if investor reaction to the Federal Reserve’s FOMC minutes turns out to be negative. 

    Although the market already expects a 25 basis point rate hike, some experts believe it would be a disaster for the markets if the Fed goes for a 50 basis point hike instead.

    According to CoinGecko, Bitcoin was trading 1.1% down at 7:15 am ET on Monday as FOMC-related volatility likely began to set in across markets.

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  • The market saw over 340,000 NFT buyers as crypto rallied

    The market saw over 340,000 NFT buyers as crypto rallied

    • NFT buyers last week rose to 348,426, about 41% up on the previuos week.
    • NFT sales volume also rose, with more than $244 million in sales last week representing a 5.4% increase.
    • Sales (USD) volume and buyers increased in tandem with Bitcoin price hitting levels above $23,000.

    Non-fungible token (NFT) data from last week shows the market attracted 348,426 buyers, roughly 41% higher than the previous week.

    According to NFT data platform CryptoSlam, the buyer count of nearly 350,000 corresponds to a 40.99% this past week. 

    As of Tuesday morning, 24 January, 2023, there had been over 419,000 unique buyers year-to-date. The uptick coincides with a rally across crypto, with volatility pushing Bitcoin price above $23,000 and Ethereum above $1,600 for the first time since early November 2022.

    Indeed, as data from CoinGecko shows, Bitcoin’s price is currently up more than 7% this past week. Over the last two weeks, the flagship cryptocurrency’s value has soared 35%. 

    Among top blockchains with most buyers on the 7-day timeframe, Ethereum leads with 146,380 (36% increase) and Solana is second with over 89,800 NFT buyers at 73% increase this past week. Cardano is third while BNB Chain ranks 7th but with a 74% spike in buyer participation.

    NFT sales jumped 5% last week

    At the same time, the global NFT sales volume in the past seven days indicates a 5.4% increase, with more than $244 million worth of NFTs traded in that time. 

    The most sales volume was on Ethereum at almost $200 million, while Solana, Cardano, Immutable X and Polygon complete the top five as of 24 January.

    Among the top 10, the WAX blockchain saw the most increase in NFT sales with 82%. Meanwhile, Solana and BNB Chain recorded the largest decline over the past week as NFT sales on these blockchains fell 20% and 33% respectively.

    NFTs sales stood at $623,439,866 for the month, data from CryptoSlam showed ( as of 24 January 2023), with total NFT transactions year-to-date at nearly 4.2 million (it was 4.7 million for December 2022).

    While there has been a slight decline in the metric compared to the previous week, the statistics suggest the NFTs market has seen trading volume and buyer participation swing alongside movements in the broader crypto market.

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  • Half a billion dollars of short sellers liquidated in biggest crypto rally in 9 months

    Half a billion dollars of short sellers liquidated in biggest crypto rally in 9 months

    Key Takeaways

    • The cryptocurrency market cap is back above $1 trillion following the biggest surge in 9 months 
    • Half a billion dollars of short sales were liquidated over the weekend, the most in three months
    • Bitcoin is back above $21,000, Ethereum above $1,500, while altcoins have soared
    • Despite powerful bounce, the market is still down close to 65%, having peaked at nearly $3 trillion in November 2021
    • Bear market drawdown at 77% for Bitcoin, but traders are wary this may only be a short-term relief rally

    For a few hours over the weekend, if you looked at a crypto chart, it felt like it was 2020 again.

    COVID may be fading into the rear-view mirror, but so had crypto prices. I produced a deep dive into some on-chain data last week which showed how torrid 2022 had been for investors, with 73% less bitcoin millionaires, a drawdown of $2 trillion in the overall crypto market, and a reputation dragged through the mud by various scandals. 

    Looking at data this week for coinjournal.net, it is a little more optimistic for crypto investors. 

    Half a billion dollars of short sellers liquidated

    The weekend brought a little respite, however. Bitcoin surged to its strongest rally in 9 months, taking the market by surprise and breaking upwards above $21,000. 

    Looking at data from Coinglass, there were over half a billion dollars of short sellers liquidated this past weekend. The below chart shows the extent of these liquidations, more or less matching the long liquidations back when FTX collapsed in early November. 

    Crypto market regains $1 trillion mark

    The bounce in digital assets followed softer-than-expected inflation data. This optimism that inflation may have peaked has caused investors to bet that the Federal Reserve may pivot off its high-interest rate policy sooner than previously expected. 

    As we know by now, high-interest rates have sucked the liquidity from the market, hurting risk assets across the board. Crypto is very much trading like one of these high-risk assets, and hence prices have collapsed as the Federal Reserve has implemented this tight monetary policy – and hence crypto exchanges have been less than kind to long traders. 

    2023 has brought hope that if inflation truly has peaked, a light at the end of the tunnel may be visible. The crypto market has surged to regain a $1 trillion dollar market cap as a result. It is still a far cry from the near-$3 trillion all-time high, but Bitcoin at $21,000 and Ether at $1,500 marks the highest prices for the duo since before the FTX scandal. 

    Has the crypto market bottomed?

    The glaring question facing investors now is whether this is merely a short-term relief rally, or whether the bottom is in. 

    As with most questions in the market, macro holds the key. 

    “The last couple of months have undoubtedly brought indicators of a more positive environment with regards to inflation, as well as the boost of the Chinese economy reopening,”  said Max Coupland, Director at CoinJournal. 

    “However, I do worry whether investors are jumping the gun by presuming that this means the Fed will now pivot sooner than expected. (Fed chair) Jerome Powell has been adamant that rates will not taper until inflation is firmly under control, and we are still a long way from the 2% target, while uncertainties such as the Russian war in Ukraine still loom as highly unpredictable”. 

    Let’s play the (very) hypothetical game of assuming the bottom is in. That would put the bear market at 13 months long, with a 77% drawdown from peak-to-trough for Bitcoin. 

    Historically, this would place it as the third biggest drawback in history. However, that would only be in percentage terms. The crypto market today is vastly different to years past, and the size of the capital wipeout is on a different level – or over $2 trillion, to be precise. 

    So, while the length and size of the bear market could perhaps imply we are in the latter stages, past data simply cannot be reliably extrapolated when it comes to crypto. Bitcoin only broke through as a mainstream asset in the last few years, and prior time periods featured low liquidity and a niche set of investors. 

    Today, we are also facing an unprecedented macro climate – rampant inflation, high interest rates for the first time in Bitcoin’s history, and a bear market in the wider economy for the first time since the 2008 crash – the same year Bitcoin was invented. 

    In wrapping up, the past weekend has been a welcome reprieve for crypto investors, and amounts to the most powerful surge in nine months, back before the collapses of LUNA, Celsius, FTX and the transition to high interest rates in the board economy. 

    But the road ahead remains tough for the market at large, with inflation still lofty, a war ongoing in Europe and myriad other macro variables oscillating. This week has been good news, but crypto investors won’t be counting their chickens quite yet. 

    The next mark on the calendar? The all-important FOMC meeting on February 1st, when the Federal Reserve will decide upon the latest interest policy. 

    If you use our data, then we would appreciate a link back to https://coinjournal.net. Crediting our work with a link helps us to keep providing you with data analysis research. 

    Research Methodology

    Liquidation data via Coinglass. Price data from Yahoo Finance. All other data via CoinJournal

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  • Bitcoin and AI: Artificial Intelligence in Crypto

    Bitcoin and AI: Artificial Intelligence in Crypto

    • The global AI market is forecast to grow $1394.30 billion in 2023.
    • Investors and traders can tap into AI to benefit from features such as automation and accuracy.
    • Bitcoin and AI also have the capacity to combat frauds in transactions across global markets.

    Have you ever thought that where technology will extend us, either intelligent machines will replace us together or they will combine with humans to develop a third merger that will be four times more explosive than intelligent machines and humans? This is a long debate, but one thing is sure: artificial intelligence has plotted a strong position in this landscape, and almost every aspect is making full use of this. 

    This article is a mixture of Bitcoin with AI. Artificial Intelligence will be a role model for crypto enthusiasts to understand the crypto league and their sit in this landscape. 

    Salient stories

    A well-known market research firm Fortune Business Insight has predicted that the global AI market will extend to $1394.30 billion in the year 2023. Furthermore, Ai will drive better outcomes for crypto investors as it will predict the market value of coins perfectly. The pattern detection ability of AI will greatly influence the functionality of crypto. 

    Bitcoin and AI will combat many frauds that occur in transactions, and these transactions will be provided lethal speed. 

    In the crypto field, fraudulent activities have been the greatest threat, and if someone becomes a victim of these fraudulent activities, that will be a disaster. AI power will ensure a greater monitoring system around the digital currencies landscape, further fuming these currencies’ personalities. 

    AI provides better products that give the crypto the upper hand, and one such product is Trading Bots uses a range of AI tools like Machine Learning, Deep Learning, and others to enhance the crypto trading experience. Furthermore, these tools do not only work best for predicting the prices of crypto but for many other things like providing information about the crypto landscape, what’s new inside the crypto world, and many others. 

    Apart from these stories, there is a lot to debate. First among them is what people say about these coins. Different perceptions fall into the debate. First, a suitable amount of the population believes that these currencies can replace traditional paper currency in what sense, and secondly, many countries do not have to provide legal status, these countries and why major Tech companies of the world have yet to recognize the use of these coins. 

    The nature of these coins suggests that these coins are highly volatile, and predicting the exact future position of these coins is impossible. Even powerful AI tools cannot predict the real scenario. AI will just put efficiency but not to 100%. 

    When technology emerges, it also gives new opportunities for attackers to invade the system. Crypto trading is honey for the attackers, where they can exploit sweet. AI plays a beautiful role in this regard, but these attackers will adopt new ways to invade the system. 

    Positive signs 

    AI is a new and innovative thing for finance, especially crypto trading, and can lead to many amazes for crypto. And will help traders to extract the goods. But the story has not one hero but many others too. 

    The technological Landscape will grow in the coming time, which will help digital currencies to gather what they have lost. The year 2022 was a disaster for these coins, but technology will lead them to a stronger position in the coming time. 

    Despite poor performance in the year 2022, the demand for crypto is enhancing, which will further add to the significance of crypto. 

    When major companies recognize these currencies, the real game will start, and many companies have shown greater interest in this regard. 

    Final Thoughts

    There is a lot of heat going on regarding Bitcoin and AI, and the reason for such heat is simply the innovation they bring into this landscape. The digital landscape is all about techno products and their services, and both these dilemmas are best in the business. 

    On the one hand, Artificial Intelligence has been placing its theme in every aspect of the business. On the other hand, crypto, like Bitcoin, leads to innovative ways of investing. 

    And when both these things have merged, results are not hidden from anyone. One can use the internet to know better, and if not, then simply adopt both things, and then you will get to know about the difference. 

    Bitcoin and AI are providing many facilities to crypto companies and investors. The fascinating thing about AI is to predict the outcomes, which readily helps investors and companies to plot the future position of these digital coins. 

    Furthermore, this AI will lead to more secure transactions for investors and add greater measures for monitoring illegal activities within the crypto landscape. 

    There are AI bots for efficient trading that work as great news providers to traders, and together they perform the function of alerting the traders. 

    Last but not least, people’s perspective heavily influences the growth of these coins; when major companies or financial experts declare anything negative about them, then they will not merge in such a form to replace the traditional paper currencies. Still, if they feel positivity while using these coins, it will be easier for crypto like Bitcoin to make things happen. 

    If you are looking for the best crypto trading platform, then there is no need to search further. Just click on Immediate Connect, and this will lead you to a well-reputed trading platform that offers a range of solutions to find a better roadmap to make dollars from crypto.

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