Tag Archives: BTCGBP

The futures market experienced a moderate reset in the funding rate. The recent price volatility in the range between $58 and $69K has caused it to decline. However, similar to the price rally from the COVID crash in 2020, a rising macro trend in the funding rate becomes obvious. At the same time, the momentum of the open interest has also dropped through the last two weeks of volatile price movements. Chart by CryptoQuantThe market has the same structure that we saw in...

One of the largest Bitcoin mining companies in the States – Marathon Digital – plans to raise $500 million through the issuance of senior convertible notes. The firm wants to use the proceeds to buy bitcoin and BTC mining machines. Founded over a decade ago, Marathon Digital Holdings is among the largest publicly-traded BTC mining companies. The firm’s announcement from earlier on November 15th outlined its plans to “offer, subject to market and other conditions, $500,000,000...

Bloomberg recently found that investors are protecting themselves from fears of rising inflation by using Bitcoin. In a tweet, the company even called it “the best inflation hedge around” depending on how one looks at it. Bitcoin Beats Inflation After crunching the numbers, Bloomberg Opinion’s John Authers found that Bitcoin has achieved 99.996% deflation over the past 10 years. What cost one Bitcoin in 2011 now costs just 0.004% of a Bitcoin today. Meanwhile, the CPI has...

Since the major drop on Wednesday, the bitcoin price mostly traded around the same range of $64K. Today is the last day of the week; this means that on midnight UTC will see a weekly candle close. This candle close is critical for the next short-term. The bulls need to see BTC makes a weekly close above $64.8k for the first step in breakout confirmation. As shown on the following chart, the bullish Cup and Handle pattern breakout was completed, with a back-test of previous...

The Bitcoin network made history today as its most ambitious upgrade, Taproot, went live at block 709,632, 5:15 UTC on Sunday – November 14, 2021. Taproot Upgrade is Live The implementation is a milestone for Bitcoin, considering that Taproot is the first significant upgrade in the network since August 2017 after the Lightning Network and Segregated Witness (SegWit) upgrades. While SegWit and the Lightning Network focus on making transactions faster and cheaper, Taproot...

Following the past few days of enhanced volatility, bitcoin has calmed around $64,000. Most alternative coins have also remained untypically stagnant on a 24-hour scale, with the apparent exception of Avalanche, which went on a roll and registered a new ATH. Bitcoin’s Consolidation Rolls On Last week was going quite well for the primary cryptocurrency as it had recovered from its dip to $60,000 and went on to chart new records. It broke the October peak of $67,000 on Tuesday...

Cryptocurrency mining and environmentalism did not usually go hand in hand in conversations about the development of the blockchain industry, but one tweet from Tesla CEO Elon Musk was enough for the crypto community to start worrying about what Bitcoin and Proof-of-work miners are doing to the planet. An investigation by Forexsuggest studied several cryptocurrencies and measured how polluting they are, calculating the estimated carbon emissions and the amount of resources...

The United States-based cryptocurrency exchange Kraken predicted that bitcoin could increase to almost $100,000 by the year’s end and could even surpass that mark, according to some technical instruments. Bitcoin Is Set Towards New Heights In its “October 2021 Market Recap & Outlook,” the veteran platform – Kraken – explained its bullish prediction with past events. It pointed out that Q4 is usually a highly successful period for bitcoin. As such, if the leading digital...

The bears continued to push bitcoin south in the past 24 hours, and the asset dropped to a weekly low of just over $62,000. Most altcoins are also in the red, with Litecoin losing the most value in a day. Bitcoin Saw a Weekly Low Just a few days ago, the primary cryptocurrency broke its previous ATH two times in a row, and the latest peak came at $69,000. As the community was anticipating another run up to $70,000, the entire landscape changed. Instead of going upwards,...

The United States Securities and Exchange Commission has rejected VanEck’s proposal for a spot Bitcoin ETF. This comes after several delays by the agency. The global investment manager VanEck has been among the most active companies when it comes down to filing with the SEC to launch a Bitcoin ETF. In the past several years, the firm had numerous applications, with some rejected by the agency and others it had to withdraw on its own. However, the landscape in the States...