Bitcoin stands at the edge of a bearish breakdown, with a small possibility that the $25,000 support level could hold. On Sept. 11, Bitcoin (BTC) broke from its parallel range between $25,500 and $26,500, falling to an intraday low at $24,950. A daily close below $24,750 threatens a drop to the sub-$20,000 range, but there’s…
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Bitcoin (BTC) price is trading in a frustratingly tight range between $25,500 and $26,500, leaving traders unsure of the next direction that asset could take. However, Charles Edwards, founder of Capriole Investments, believes that Bitcoin’s current price presents a low-risk long-term buying opportunity. Edwards’ view is based on Bitcoin’s production cost and energy value. Capriole…
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In July, Bitcoin (BTC) mining stocks continued their positive run in 2023 with the top ten stocks by market cap gaining 23.10% over the month on average, with an year-to-date return of 277.34%. In comparison, BTC price has lost 3.59% in July as it failed to build support above $30,000 for the sixth week since…
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Altcoins offer diverse, innovative features, promising technological advancements, and potentially lucrative investment opportunities. Many-a-time specific altcoins post handsome gains that surpass Bitcoin (BTC), popularly known as altcoin season. However, K33 Research analysis shows over the long-term, ‘Bitcoin only’ has been a better investment strategy than an altcoin portfolio. Altcoin portfolio underperformed Bitcoin over the long…
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While intuitively, mining Bitcoin may appear like a highly profitable endeavor, research suggests otherwise. After discovering Bitcoin, most users go down the rabbit hole and consider whether it is better to mine or buy Bitcoin directly. They usually give up due to the cost and rigor of running ASIC miners, regulatory uncertainty, and the lack…
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Bitcoin’s on-chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high. According to on-chain analytics firm Glassnode, “Miners have been sending a significant amount of coins to…
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On-chain analytics firm Glassnode published a report hinting that investors are rotating capital toward risk-off assets like stablecoins and Bitcoin. Technicals show that altcoins are at a crucial turning point between a positive and a negative breakout. Glassnode’s analysis of Uniswap and futures trading volumes reveals that the uptrend that began in the first quarter…
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The cryptocurrency market experienced a dull month with Bitcoin (BTC) dropping 7.37%, its worst performance since November 2022 and Ethereum (ETH) losing 0.22% in May. The average loss across the market stands at 5.62% on the last day before the monthly close. However, some outliers posted impressive gains thanks to popular investment narratives and the…
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Bitcoin’s volatility has dropped to historically low levels thanks to macroeconomic uncertainty and low market liquidity. However, on-chain and options market data allude to incoming volatility in June. The Bitcoin Volatility Index, which measures the daily fluctuations in Bitcoin’s (BTC) price, shows that the 30-day volatility in Bitcoin’s price was 1.52%, which is less than half of…
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Glassnode’s latest analysis suggests that Bitcoin has built a strong foundation below the $30,000 level, and the current supply structure shows similarities to early 2016 and early 2019. The report shows that the Long-Term Holder (LTH) supply is just shy of a new all-time high with a total supply balance of 14.161 million BTC. In…
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