Cryptocurrency

While Bitcoin’s 100+ BTC whale wallets continue to hold a high level of coins, totaling 11.79 million BTC, whale activity has dropped to its lowest level of 2024. There are currently 15,907 wallets holding at least 100 coins. Whenever the metric rises, we see a surge of renewed demand among whales, which should directly affect the performance of Bitcoin.Interestingly, the drop in whale activity could also be seen as a positive sign for the market. With fewer whales actively trading, the market might experience less volatility. When whales make large transactions, they can significantly impact the market, causing sudden price swings. Reduced activity among these large holders can lead to a more stable and predictable market environment, but this is not why people trade and hold cryptocurrencies.Additionally, less whale activity might indicate that these large holders are content with their current positions and are not looking to liquidate their holdings. This could suggest long-term bullish sentiment, as whales often have a better understanding of market dynamics and trends. Their decision to hold rather than sell might reflect their confidence in Bitcoin’s future price growth.While the recent decline in Bitcoin whale activity to the lowest level of 2024 might initially seem concerning, it also offers some positive implications. Reduced market volatility and the potential for long-term holding among whales can provide a more stable environment for smaller investors.This article was originally published on U.Today More

Still, the world’s biggest cryptocurrency remained squarely within a tight $60,000 to $70,000 trading range established over the past two months, seeing few catalysts to break out amid tepid risk appetite.Bitcoin climbed 0.7% to $66,476.7 by 08:57 ET (12:57 GMT).Following today’s uptick, Bitcoin is sitting on strong gains over the past seven days, especially since it had fallen as low as $60,000 last week.The token was up around 8% from lows hit last Friday, spurred chiefly by weakness in the dollar amid some signs of easing U.S. inflation.Some soft consumer price index (CPI) readings saw traders begin pricing in a greater chance that the Fed will cut interest rates in September- a scenario that bodes well for speculative assets such as Bitcoin and other cryptos.But this enthusiasm somewhat dwindled recently, limiting Bitcoin’s gains after a string of Fed officials warned that the central bank needed more convincing that inflation was coming down.Members of the Fed’s rate-setting committee said the central bank needed to see more than just some soft inflation readings for one month before locking in any plans for interest rate cuts.Their comments sparked a sharp recovery in the dollar, and also stalled a rally across most risk-driven assets.In addition to uncertainty over U.S. rates, sentiment towards crypto also remained constrained by fears of more regulatory action against the industry.Among broader cryptocurrency markets, major altcoins followed Bitcoin into the green territory.World no.2 token Ethereum rose 3.3%, while Solana and XRP advanced 3.8% and 1.7%, respectively.The recent sell-off in Ethereum has now stalled, with bears encountering resistance at an upward-sloping trendline from the October and January lows, per TradingView data.Since Monday, the inability of bears to break this bull-market trendline suggests a potential price bounce before any further declines. Ether has dropped more than 15% to $3,000 from highs near $4,100 two months ago.Supporting this potential bounce, the daily MACD histogram has turned positive, indicating renewed bullish momentum. The MACD is a widely used indicator for gauging trend strength and changes.Intraday momentum is improving, with the 50-hour simple moving average (SMA) trending upwards, providing reassurance. Immediate resistance is at the 50-day SMA near $3,180, followed by a descending trendline from the recent correction at $3,225.Meanwhile, meme tokens saw limited gains of less than 1% as a rally in meme stocks such as GameStop Corp (NYSE:NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:NYSE:AMC) largely reversed course in recent sessions. More

With Bitcoin now trading above $66,000 and having reached highs near $74,000, his forecast appears accurate.CZ’s reappearance on social media has sparked curiosity, especially given his current legal troubles. In April, he was sentenced to four months in prison after pleading guilty to money laundering charges, following his resignation as CEO of Binance. The cryptocurrency exchange also agreed to a substantial fine of $4.3 billion. Prosecutors had initially sought a three-year sentence for the 47-year-old entrepreneur, making his four-month term seem notably light.Bitcoin itself has seen monumental growth since CZ’s initial prediction. The cryptocurrency boasts a market capitalization of $1.3 trillion and has established itself as a key asset on the financial market, alongside traditional investments like gold and equities.Its integration into mainstream finance is underscored by the approval of a spot ETF on the U.S. stock market, broadening its appeal to a wide range of investors, including pension funds.This article was originally published on U.Today More

Mining Now, a trusted and reputable real-time crypto-mining insights provider company, is thrilled to announce the launch of its versatile platform that attempts to give unbiased insights associated with crypto mining as well as real-time Asic profitability tracking where people can analyze and compare the crypto mining hardwares to draw well-informed inferences. It is designed to bridge the gap between miners around the world and the crypto landscape with Mining Now’s user-friendly interface intending to boost the crypto mining endeavours. With a solid commitment to delivering crypto mining insights, the leading-edge platform not only pertains to benefit the miners worldwide to accomplish swift and unmatched mining outputs but also curated a whole range of ASIC miners showcasing intricate data and specifications in entirely uncomplicated form in one place to create heightened awareness as well as maximizing the profits. With its recently launched platform, the entire team of Mining Now has big plans to expand their horizons to cover other forms of crypto mining hardware as well, such as GPU and CPU miners, for maximized research potential, and they are persistently working to accomplish it. Not only this, but they are also on the go to forge a full-fledged mining community that thrives to unify diversified entities. Mining Now’s exclusive community will have crypto Asic enthusiasts, technicians, supporters, and mining farms that will aid in promoting exquisite experiences and exponential growth. Another distinctive approach to providing its users with P2P deals is the cherry on top, as they will have accessibility to sellers from around the world, which would save them thousands of dollars. No such groundbreaking platform has been in the game yet, and it can be well-anticipated that Mining Now is now all set to pioneer the entire world with its distinctive features and qualities. This move by Mining Now will not only forge a more profound sense of reliability amongst its users but also bring a revolution that would shake the entire industry with its vision and innovations, leaving a benchmark of unbiasedness, futuristic approach and unseen innovations. Embark on this exquisite journey with Mining Now and raise the bars of your crypto mining ventures. Website: https://miningnow.com/ Social Media HandlesThis article was originally published on Chainwire More

William B. Horne, Chief Executive Officer of Ault Alliance, stated, “The Company recently announced that Sentinum has now installed the first miners at one of its two Montana mining locations. We are excited with the progress we are making and are looking forward to bringing our power costs down as well as focusing on profitable mining operations after the recent Bitcoin halving.”Ault Alliance notes that all estimates and other projections are subject to the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, the ability to build out and provide the necessary power for miners, and other factors that may impact the results of Bitcoin mining production or operations. The Company makes no prediction with respect to the price of Bitcoin after the recent halving at any time in the future but is prepared to adjust its mining operations as it deems appropriate.For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov. More

On Bitcoin’s four-hour chart, the TD Sequential indicator has flashed a sell signal, suggesting that the current uptrend may be running out of steam and that a short-term correction could be imminent. While the TD Sequential is not a guarantee of future price movements, its historical accuracy might present it as a watchful indicator for traders who are eyeing short-term price movements.Despite the sell signal, it is important to consider the broader context of the Bitcoin price action. At the time of writing, BTC was up 1.80% in the last 24 hours to $65,736 after reaching highs of $66,772 in today’s trading session.BTC surged to over $66,000 on Wednesday as U.S. inflation data heightened the prospects of the Fed cutting interest rates in the coming months. BTC, like other risk assets, is susceptible to predicted changes in major central banks’ monetary policy.The latest data releases suggest that U.S. weekly jobless claims remain elevated, while April import and export prices both rose sharply on the month. Import prices rose 1.1% in April. As it stands, eyes are on BTC’s daily 50-day SMA at $65,111 to act as an intermediate support to halt BTC’s current price declines. Bulls might need to defend this key support level to prevent declines near $60,000. On the other hand, if buyers sustain the BTC price above the 50-day simple moving average, this might trigger a possible rally to the resistance at $73,777, where bears are expected to put up a fight. Galaxy Digital founder and CEO Mike Novogratz predicted during the firm’s first-quarter earnings call that Bitcoin might consolidate between $55,000 and $75,000 before moving higher. Traders should pay attention to these key Bitcoin price levels.This article was originally published on U.Today More

The analyst’s post reveals that a surprising 414 reported holders in the fund’s first 13F season have been reported. This is a “mind boggling” figure for this metric, the analyst admitted, adding that it “blows away [the] record.”Balchunas then clarified that even if a newly born ETF gets 20 holders, that is already a big deal very rare.The analyst provided an infographic to show how far behind some of the other largest spot Bitcoin ETFs stand behind BlackRock (NYSE:BLK). Bitwise’s BITB boasts around 100 reported holders, Fidelity’s FBTC has slightly under 250 and Ark Invest has less than 100.In the meantime, BlackRock’s ETF keeps seeing zero inflows for the third consecutive day. The other nine spot ETFs have seen positive inflows over the past three days, scooping up $303 million worth of Bitcoin on May 15, according to data shared by the @spotonchain analytics account.This article was originally published on U.Today More

On the evening of May 3, Beijing time, a whale mistakenly transferred 1,155 BTC to a phishing wallet address, worth about $71 million at the time. This significant loss serves as a stark reminder of the importance of security in the crypto world.The hacker monitored the whale’s blockchain activity and saw the whale create a new address. The hacker then generated a similar address to the one the whale created and conducted a small transaction to include this phishing address in the transaction history. When the whale saw the phishing address in their transfer history, they mistakenly copied it, thinking it was their own address. The hacker monitored the phishing address and, upon receiving 1,155 BTC, quickly transferred the funds to a new address.This incident shows that the hacker was well prepared and used significant computational power, likely indicating an organized effort rather than an individual. The speed and precision of the attack suggest automated scripts were used, and the hacker had access to considerable resources.To protect your digital assets, create private keys and mnemonic phrases offline and store them securely offline. Use hardware wallets for additional security, but ensure you back up your private keys.If you suspect your private key or mnemonic phrase is compromised, replace them immediately and transfer your assets. Store transfer addresses in an address book with notes and avoid copying addresses temporarily. Always perform small test transfers and confirm success with the recipient before large transactions.For large transfers, consider splitting them into multiple smaller transactions. Avoid clicking on transfer links or online transactions sent by others, and always verify links and addresses independently. For larger fund management, consider using multi-signature methods to add an extra layer of security.This article was originally published on U.Today More