Tesla's internal bitcoin transfers highlight market's growing resilience, as $776.9M movement causes no price impact despite initial concerns
The post Bitcoin Bull Run on the Horizon: Will BTC Reach $100K by December? appeared first on Coinpedia Fintech News The cryptocurrency market is buzzing with optimism as analysts forecast a potential rise in Bitcoin’s price to $100,000 within the next year. This bullish sentiment is fueled by several key factors, including institutional adoption, U.S. government overspending, and anticipated economic stimulus packages. BTC Resistance at $68,000- What it means Captain Faibik stated that Bitcoin bulls …
Data shows the ratio between two Bitcoin on-chain metrics has recently formed a pattern that has historically been bullish for the asset’s price. Bitcoin LTH/STH SOPR Ratio Has Crossed Above Its 90-Day MA Recently In a new post on X, CryptoQuant author Axel Adler Jr has discussed about the recent trend in the Bitcoin SOPR Ratio. The “Spent Output Profit Ratio” (SOPR) is an indicator that tells us about whether the Bitcoin investors as a whole are selling at a profit or loss. When the value of this metric is greater than 1, it means the average holder is making BTC transactions at a net profit. On the other hand, it being under the mark implies loss-taking is dominant on the network. Related Reading: Dogecoin Surges 16%, But Here’s What DOGE ‘Risk Indicator’ Says About Rally The SOPR Ratio, the actual metric of interest here, keeps track of the ratio between the version of the SOPR specifically for short-term holders and that for long-term holders. Short-term holders (STHs) and long-term holders (LTHs) are the two main divisions of the Bitcoin userbase made on the basis of holding time. The cutoff between these cohorts is 155 days, with investors who hold past this mark moving from the STHs to the LTHs. Now, here is the chart shared by the analyst that shows the trend in the Bitcoin SOPR Ratio and its 90-day moving average (MA) over the history of the cryptocurrency: As displayed in the above graph, the Bitcoin SOPR Ratio has seen a surge recently, which suggests the LTHs have been ramping up their profit-taking compared to the STHs. This trend is something that has historically been witnessed during bullish periods, since the LTHs are resolute entities who tend to amass large profits by the time the bull run hits in full swing. The STHs are by definition the holders who bought within the past five months, meaning that their cost basis lies somewhere around the prices that BTC was trading at inside this window. Thus, their profits are never as big as the LTHs, who often have their cost basis close to bear market lows. This is why the ratio blows up toward the LTHs in bullish periods. With the latest increase, the SOPR Ratio has reached a value of 1.8 and has surpassed its 90-day MA. In the chart, the CryptoQuant author has highlighted the past instances of this crossover. It would appear that this pattern has generally proven to be bullish for Bitcoin. Related Reading: Is It Too Late To Accumulate Bitcoin? What This Indicator Says Naturally, the profit-taking from the LTHs can be a concern, but as is apparent from the graph, the cycle has usually only been at risk of topping out when the ratio has broken above a value of 7. Thus, there could still be plenty of room to run for Bitcoin, with demand potentially absorbing the LTH profit-taking until the same extreme levels as the past cycles. BTC Price At the time of writing, Bitcoin is trading at around $68,200, up more than 1% over the last 24 hours. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
The post Bitcoin Price Analysis: Will the US Elections Ignite a Bull Run? appeared first on Coinpedia Fintech News Bitcoin lost its overnight gains, dipping below $67,000 to an intraday low of $65,700. This drop is tied to rising geopolitical tensions, particularly the escalating conflict between Israel and Iran, pushing investors toward safer assets. During times of global instability, BTC tends to face selling pressure as market confidence fades. Though the current scenario is …
Bitcoin (BTC) maintains its position above $67,000 despite a brief dip to the $65,000 range in the past 24 hours and is currently trading in the $67,000 level. Major altcoins such as Ethereum, Solana, and Ripple have experienced declines over the past 24 hours.
Keep an eye on these eight altcoins as Bitcoin recovers from its recent slump: LayerZero (ZRO), Bittensor (TAO), Render (RENDER), Hedera (HBAR), Injective (INJ), Io.net (IO), Sui (SUI), and Celestia (TIA). Historically, the fourth quarter of the year is bullish for Bitcoin and the crypto market, and these altcoins could be poised for significant gains. The post 8 Altcoins to Watch as Bitcoin Recovers in Q4 2024 appeared first on Coin Edition .
Crypto analyst and YouTuber Benjamin Cowen’s bearish prediction about Cardano has materialized. The blockchain network’s native token, ADA, dropped 3.75% in the past 24 hours as Bitcoin (BTC) fell below $67,000. Altcoin Daily posted on X (formerly Twitter) that Cowen had predicted back in August 2023 that ADA would lose dominance against BTC falling to The post Cardano (ADA) Price Plummets as Benjamin Cowen’s Bearish Prediction Comes True appeared first on Coin Edition .
Low transfer activity from retail investors has preceded bitcoin price rallies in the past, so the slow-paced growth of smaller BTC investors may not be so bad.
Charles Hoskinson changes his stance on Bitcoin's relevance in the crypto market. The integration of Cardano and Bitcoin aims to boost decentralized finance opportunities. Continue Reading: Charles Hoskinson Alters Perspective on Bitcoin and DeFi Market The post Charles Hoskinson Alters Perspective on Bitcoin and DeFi Market appeared first on COINTURK NEWS .
Cardano is set to unveil its first permissionless Layer 2 (L2) solution, positioning itself ahead of other blockchains like Ethereum. The announcement was made during the Cardano Summit 2024 in Argentina, where Philip DiSarro, CEO and founder of Anastasia Labs, detailed the forthcoming launch of Midgard, an optimistic rollup designed to enhance ADA’s scalability and