Bitcoin has recently slipped to under $56,000, continuing its downward trajectory in the market. Arthur Hayes, co-founder and former CEO of BitMEX, has predicted that in a worst-case scenario, the cryptocurrency could drop to $50,000. This bearish outlook is based on broader macroeconomic factors, including actions by the Federal Reserve and dynamics in the US
Crypto
The Ethereum market has experienced a significant shift recently, with rising exchange reserves indicating a potential new distribution phase. CryptoQuant’s Ethereum Exchange Reserve metric has been a key indicator, tracking the amount of ETH held in exchange wallets. A rise in this metric often signals that traders are moving their ETH onto exchanges in preparation
The Open Network and its native token, TON, have recently faced a significant price plummet, with the token dropping by over 90% in just minutes on CoinMarketCap. The price of TON went from $5.2 to about $0.3, representing a massive 94% decrease in value. However, it is important to note that this crash was not
The latest analysis by Santiment reveals a significant decrease in whale activity across major crypto assets, such as Bitcoin and Ethereum. The number of transactions valued at over $100k has dropped substantially from the highly active period in March to August. For instance, Bitcoin transactions decreased from 115.1k to 60.2k, while Ethereum transactions fell from
Recently, the renowned crypto analyst ‘Titan of Crypto’ shared with his massive following a technical pattern that has never been witnessed before in the cryptocurrency market. This pattern is none other than a golden cross forming between the 100-day moving average and the 200-day moving average. Traditionally, a golden cross occurs when a shorter-term moving
In the latest Crypto Wealth Report 2024 by Henley & Partners, it was revealed that the number of individuals holding over $1 million in digital assets has surged by 95% to 172,300. This increase comes amidst a significant growth in the crypto market, with its total value reaching $2.3 trillion, marking an 89% rise from
The crypto space suffered a staggering $313 million in losses last month, with over ten different hacks wreaking havoc on the industry. However, it was two large phishing attacks that took the lion’s share of the stolen funds, accounting for 93.5% of the total losses. According to a report by blockchain security firm PeckShield, these
Bitcoin mining revenue suffered a significant blow in August, marking its worst month in nearly a year. According to data from Bitbo, BTC mining activities only managed to secure $827 million, a sharp decline of over 10% from July’s earnings of $927.35 million. This decrease is even more pronounced when compared to the high point
Last week, the digital asset investment product market experienced a significant outflow of $305 million. CoinShares pointed to this negative sentiment as being widespread among various providers and regions. The reasoning behind this abrupt change in sentiment was attributed to the release of stronger-than-expected economic data from the United States. This data lessened the chances
Bitcoin’s recent price actions have taken a turn for the worse, with the asset slumping to a 2-week low of $57,100. This marks a significant drop from its recent peak of over $65,100 just a week ago. Despite briefly recovering to $61,000, bitcoin has struggled to maintain its momentum and has since dropped below $58,000
