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Tag Archives: Bitcoin (BTC) Price

El Salvador Buys The Dip, Adds 100 More Bitcoin To Existing Stash

Nayib Bukele – President of El Salvador – recently announced that his country has purchased another 100 Bitcoin. That’s about $5.4 million worth of the primary cryptocurrency, at today’s prices. El Salvador Continues to HODL As always, the “CEO” of El Salvador (as reads his bio) casually announced the purchase in a tweet on Friday. Despite Bitcoin’s bearish slump this week, the president has not second-guessed his investment. Instead, he took it as a chance to stack sats. “El...

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Bitcoin Accumulation Accelerates as Whales Buy 0.29% of BTC’s Total Supply in a Week: Analysis

Bitcoin’s price trading below $60,000 for over a week now has allowed some whales to accumulate more portions of the asset. On-chain data suggests that long-term holders and whales have bought 0.29% of the total supply in just a week. Bitcoin Whales Accumulating Ever since its peak at $69,000 on November 10th, bitcoin’s price has been on the downfall, losing roughly 20% of its value and bottoming below $56,000 just a week later. While this vigorous price drop in a relatively...

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Bitcoin Price Analysis: Was $55K The Local Bottom?

The technical indicators are showing potential signs of a bottom at $55.4K. Bitcoin’s price has built a base of support in the mid $50K area recently, with bullish divergence forming on the 4-hour RSI. It appears that bulls have stepped in and protected $56.2K, which is a technical level of support. The overall trend in on-chain metrics continues to remain bullish despite the recent volatility. The Technicals The longer-term trend and structure remain bullish despite the...

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PlanB: November $98K Bitcoin Target Will Probably be Floor Model’s First Miss

PlanB admitted that his worst-case scenario in terms of BTC’s price movements is about to be proven wrong for the first time. The analyst’s model forecasted a $98,000 price tag for the asset at the end of November, which seems somewhat of a long shot as of now. PlanB’s Worst-Case Scenario CryptoPotato has previously reported the accuracy of PlanB’s worst-case scenario (floor model), as he referred to it, which is separate from the popular stock-to-flow model. However, it was...

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Bitcoin Price Analysis: BTC Still Trading Under This Critical Level, But First Bullish Signs Pop

Bitcoin’s price has failed to recover and seems to be struggling below the $60K mark. As of now, BTC has lost 7% over the last week, trading in the range of $55-56K, failing to reclaim the 50-day moving average line. Chart by TradingViewThe Technicals Bitcoin’s price painted a lower low yesterday. Today, it continues to decline and taps the critical support zone between $53K and $58K – something we’ve been tracking in our previous analysis. The $53K level provides very strong...

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Third-Largest Bitcoin Whale Bought $375 Million Worth of BTC in 11 Days

In a matter of two weeks, one of the largest BTC whales has accumulated more than 6,600 coins as the price of the asset has declined by more than 10% in the same timeframe. CryptoPotato frequently reports the sales and purchases of this particular whale, which tends to sell when the asset’s price has appreciated significantly in a short period of time and vice-versa. In the past several weeks, though, they have been focused on accumulating only, as CryptoQuant’s analyst...

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Non-Zero Bitcoin Addresses Reached New ATH of 39 Million

The blockchain data and intelligence provider – Glassnode – revealed that a total of 38.76 million Bitcoin addresses now have non-zero balances. This is the highest level ever recorded since the last peak of 38.7 million marked this April. Bitcoin’s Drop Is Not a Concern Despite its recent price decline, bitcoin charted new heights in another area. According to Glassnode, there are now 38.76 million BTC wallets containing some amount of the primary cryptocurrency. It took...

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Bitcoin Price Analysis: Ahead of Weekly Close, First Positive Signs Correction Might Be Over

Roughly around two days ago, bitcoin’s price dipped to an intraday low of $55,640 (on Bitstamp), causing moderate turmoil within the community and raising the question of how far the correction will go. As we reported back then, one of the key levels to consider is the zone between $58.3K and $53K as it contains very strong support in terms of both technical and on-chain indicators. Now, prominent Bitcoin analyst Daniel Joe noted on Twitter that the cryptocurrency dipped into...

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Market Watch: BTC Eyes $60K, AVAX to Replace DOGE As Top 10?

Bitcoin continues its recovery attempts by touching $59,000, while most of the altcoins have remained stagnant since yesterday. Avalanche is once again the most significant gainer. AVAX charted a new all-time high (again) and is close to surpassing Dogecoin in terms of market cap. AVAX on a Roll Most altcoins plummeted in value in the past week or so and tried to bounce off yesterday. Ethereum, for example, went below $4,000 for the first time in over a month shortly after...

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Bitcoin Reclaims $58K as Avalanche Taps New ATH (Market Watch)

Following a few days of price nosedives, bitcoin finally bounced off and added more than $2,000 of value. Most altcoins are also well in the green, with Shiba Inu adding double-digit percentages and Avalanche registering a new ATH. Bitcoin Reclaims $58K The past several days didn’t go well for the primary cryptocurrency. Shortly after tapping $69,000 for its latest price peak, the asset headed straight down and lost $9,000 in days. This culminated in a drop to $60,000 on...

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