Cryptocurrency

In a recent tweet, Ali Martinez noted that while Bitcoin played out its historical narrative for August, similar expectations exist for September typically believed to be a negative month for Bitcoin.However, recent insights from Spot On Chain, shared in a thread of tweets, suggest five reasons why this year might be different.First, negative Augusts may help to avoid a negative September. In other reasons cited, major selling pressures have cleared and long-term holders remain strong. Fourth, Bitcoin ETFs can be a renewed buying force and lastly, favorable interest rates, capital and regulations might help to boost the market in September.Second, selling pressure has substantially declined for Bitcoin. Three major selling forces unloaded 170,917 BTC or $10.69 billion to the market in July and August, including the German government, which sold 49,859 BTC worth $3 billion in early July and no longer holds BTC. Mt Gox repaid 95,958 BTC in July and August and still holds 44,898 BTC worth $2.65 billion, or only a third of the initial holding. GenesisTrading distributed 24,068 BTC for repayment on Aug. 2 and no longer holds BTC.However, the U.S. government still holds 203,650 confiscated BTC worth $12 billion, and like in the German government case, this can be a big selling force. However, recent actions suggest limited near-term sell-off risk.In 2023 and 2024, the U.S. government moved 35,516 BTC worth $1.48 billion to Coinbase (NASDAQ:COIN) at nearly $41,637, but overall there were only weak price reactions because most sales were done via OTC with minimal impact on the market.Long-term holders, which increased their supply by 262,000 BTC in August, bringing their total holding to 14.82 million BTC, or 75% of the total supply, remain another positive factor. Similarly, BTC ETFs can be a renewed buying force, if the pattern of alternating between positive and negative months continues.Other potential buying simulators include the likelihood of FED cutting the interest rate in September, which could boost demand for risky assets like BTC or Bitcoin ETFs. FTX will repay $16 billion to creditors in cash, not crypto, which can be reinjected into BTC and the broad market.This article was originally published on U.Today More

In early June, the JAN3 boss also touched on that topic. According to that tweet, Mow believes that in order to finally surpass $100,000, the world’s largest cryptocurrency Bitcoin needs first to exceed the all-time high of $73,750 it managed to achieve in March.After that, Mow continued, the recursive demand shock will step in and will drive BTC all the way above the $100,000 price line.In one of his tweets published this summer, Mow said he expects Bitcoin to skyrocket to a whopping $1,000,000 within the next year. Even if it happens later than this time frame, he said later, it is still a matter of the nearest future.Those describe stages of attitude of crypto investors to Bitcoin as they begin to like and understand BTC stronger and finally come to Max Keiser’s famous thesis that “everything is going to zero against Bitcoin.”The first stage is “I just heard about BTC, I can fix it.” The second one shows an investor’s admiration toward Bitcoin, even though it is not as high as that to altcoins. That is followed by beginning to use BTC for payments (adoption). Then Bitcoin becomes a new asset class for investors and the “best store of value ever.”By saying that the third stage is being implemented in El Salvador now, where Keiser is the president’s advisor on BTC, he admitted that these stages do not only describe retail investors but also countries. Keiser expects the fourth stage (“BTC = new asset class; best store of value ever”) to arrive soon in the U.S. as well.This article was originally published on U.Today More

Depositing to exchanges typically indicates an intention to sell, while withdrawals suggest an intent to buy. Whether this move signals selling or a strategic play remains unknown.According to Glassnode’s most recent weekly report, net capital inflows into Bitcoin have slowed in recent months. This suggests a degree of equilibrium is reached between investors taking profit and loss.Notably, capital inflows into the Bitcoin market are rarely this quiet, with 89% of days seeing a greater capital inflow (excluding loss-dominated bear markets).After reaching all-time highs of nearly $74,000 in mid-March, the confidence of new investors was tested by choppy sideways price action for several months. Throughout this process, a major portion of the Bitcoin supply has remained securely held and is in the three-month to six-month age range.This view is supported by on-chain analytics firm CryptoQuant, which indicated that the Bitcoin market cycle indicator is again in the bear phase. This observation was made by CryptoQuant head of Research, Julio Moreno, who also stated that from a valuation perspective, if the Bitcoin price pierces $56,000 to the downside, it stands the risk of a larger correction increase.At the time of writing, Bitcoin was down 1.05% in the last 24 hours to $59,005 amid sideways choppy trading price action in the week. The lead cryptocurrency is tending toward a bearish close in August, already down 8.44% for the month.Despite Bitcoin’s lackluster trading activity, Santiment noted that Bitcoin whales are growing in number. In just one month, there has been a net increase of 283 wallets holding at least 100 BTC, with the current total of 16,120 such wallets on the network, shattering a 17-month high.This article was originally published on U.Today More

It is especially concerning because volatility has always been the main feature and attraction of Shiba Inu’s trading patterns; the once-vibrant volatility has greatly decreased. A look at the price chart reveals a concerning trend: since its peak earlier this year, Shiba Inu has been declining. The asset has made an effort to rebound, but it has not been able to breach important resistance levels, such as the 50-day EMA. This inability to make up ground has resulted in a substantial loss of confidence, which has further reduced trading volume and market interest. The decline in the volatility of SHIB is among the most alarming aspects of its current situation. Shiba Inu has long been popular among speculative traders and ordinary investors seeking quick profits due to SHIB’s capacity for swift price movements. But the current lack of volatility indicates that SHIB may be losing steam. A lack of volatility can be the death knell for a token like SHIB, which mainly depends on market excitement and speculative interest.Shiba Inu runs the risk of going extinct if its previous volatility does not return. According to the current trend, SHIB may continue to lose value and even lose its place on the market unless there is a major catalyst that spurs interest and moves prices. Shiba Inu is still in a risky situation for the time being, and the upcoming weeks will be crucial in deciding its future.The chart shows that Toncoin’s price has recently fallen below important support levels, indicating that it has struggled to continue on its upward trajectory. The fact that the recovery abruptly stopped indicates that TON is being severely impacted by the state of the market. Large-scale purchases from whales were a major factor in the first boost, which looked encouraging. But even these big names started to back off as the mood on the market soured, leaving TON open to more losses. Toncoin’s fundamentals are still solid despite the present market difficulties. Telegram, a platform with a sizable user base, and a quickly growing ecosystem is closely linked to the cryptocurrency. Something that many other cryptocurrencies lack, this connection gives TON a strong foundation. Further more, the TON ecosystem’s continuous development, which includes a range of decentralized services and applications, is still showing promise. But the main worry right now is whether TON can get back the momentum it lost. The cryptocurrency market as a whole has been unstable, and investors are growing more wary. Renewed investor confidence and a more advantageous market climate are likely to be necessary for Toncoin to resume its recovery.Because there is not enough buying support to propel its value much higher, Bitcoin is currently stuck in the middle of a trading range. Bitcoin is seen on the chart bouncing between significant moving averages, but there is no noticeable breakout or breakdown. Since there is no clear trend on the market, some investors are simply staying out of the market to avoid unexpected movements. This lack of direction has caused the market to stagnate. The problem is that the market is not currently experiencing enough momentum to raise the price of Bitcoin. There does not seem to be much buying support, which could be caused by a number of things, such as regulatory worries, macroeconomic uncertainties or a general lack of investor confidence. Bitcoin is thus stuck in this chop zone, where there are frequent price fluctuations, but little actual progress is made. Looking ahead, things are still unclear. If the current degree of volatility continues, we may witness more abrupt ephemeral movements devoid of a clear trend. If selling pressure builds up, there is a chance that prices will drop even further, particularly if Bitcoin is unable to maintain above important support levels.This article was originally published on U.Today More

This article was originally published on U.Today More

Saylor’s tweet was accompanied by an image that explained his caption. The image bore a mathematical formula derived from Bitcoin variables: 32, which is the total number of halvings to ever occur; 210,000, which is the number of blocks between halvings; 50, which is the number of new Bitcoins issued per block and, lastly, the cumulative number of halvings so far, which is 2i.The timing of Saylor’s tweet coincides with a period of volatility on the cryptocurrency market, where Bitcoin experienced a significant price drop. Several factors have contributed to this decline, including macroeconomic uncertainties and profit-taking by investors.Several crypto assets are in the red, with Bitcoin down 3.34% in the last 24 hours to $58,167. Bitcoin experienced profit-taking after reaching highs of $61, 194 in yesterday’s trading session, falling to an intraday low of $58,027 at press time after losing the $59,000 level.Ethereum, Shiba Inu, Solana and Chainlink posted losses between 3% and 6%. FET, TAO, WIF and Floki had larger losses between 7% and 18%.MicroStrategy, led by Saylor, declared 226,500 Bitcoin holdings on July 31, up a few coins since its most recent purchase announcement in mid-June. The 226,500 Bitcoins were purchased for $8.3 billion, or an average of $36,821 per token. For Saylor and MicroStrategy, Bitcoin is not a speculative gamble but a carefully considered strategy.Saylor recently stated that he becomes more bullish on Bitcoin with each passing day.This article was originally published on U.Today More

Keiser quoted a tweet published by the @RadarHits X account. That post revealed that U.S. national debt has reached a new all-time high of $35.27 trillion. The debt now comprises $104,568 debt per citizen.The Bitcoin maximalist shared a prediction that he expects the fiat U.S. dollar to collapse “probably within 6 months.” @RadarHits hinted that the fast debt growth is largely down to recent U.S. involvement in certain geopolitical events, providing large financial support and printing billions of dollars for that purpose.The debt skyrocketed, adding a whole trillion U.S. dollars within just eight months – in January 2024, it constituted $34 trillion.In his recent tweets, investor and author of the “Rich Dad Poor Dad” book Robert Kiyosaki referred to the fast-growing U.S. debt as a major reason for Bitcoin’s growth to at least $100,000 which he expects to happen in the near future, such as next year.The official reason for his arrest was the lack of cooperation with French authorities, who demanded that Durov comply and provide personal user data and keys to secret chats. Durov faced charges of complicity in drug trafficking, fraud and money laundering, aside from other charges.However, Durov was released after paying a five million EUR bail and is now forced to visit the police twice a week. When Durov was arrested, TON collapsed by more than 15% even though its team, which is not the Telegram team, stated that the TON blockchain runs in its usual mode.Keiser commented on that situation, stating that Bitcoin is the only secure crypto, unlike “s-coins” – TON, ADA, XRP, ETH and many others. This is because Shytoshi Nakamoto chose to remain anonymous.Keiser tweeted that any of the 30,000 altcoins can face a similar fate as TON and its founder Pavel Durov.This article was originally published on U.Today More

At the time of writing, BTC was 1.11% in the last 24 hours to $59,478, after reaching highs of $61,194 in yesterday’s trading session. Bitcoin remains down 2.24% weekly.According to crypto analyst Ali, it appears that some major players have taken advantage of the recent dip in Bitcoin prices. Ali noted that on-chain data from Santiment reveals a 40,000 BTC drop in the exchange’s supply over the past 48 hours, equivalent to about $2.4 billion.This move aligns with a notable surge in exchange outflows, one which might suggest buying or a move to cold storage. The latter is often seen as bullish, as it suggests that investors are holding onto their assets rather than looking to sell them in the short term.As reported, Santiment spotted an increase in accumulation for wallets with 10-10,000 BTC since the past month. This class of Bitcoin holders has collectively accumulated 133,300 more coins, according to Santiment, while smaller traders continue to impatiently drop their holdings there.The outflow of Bitcoin to cold wallets generally indicates that investors are more interested in holding the crypto asset for a longer period, hoping for future price appreciation.As indicated by CryptoQuant, Bitcoin reserves on exchanges have fallen to yearly lows, which has implications for the Bitcoin market.With fewer Bitcoin available on exchanges, the selling pressure decreases — a trend that might potentially favor a bull market if demand also continues to grow.This article was originally published on U.Today More