A dormant Bitcoin wallet has moved 10,000 BTC after 14 years, sparking significant attention across the cryptocurrency community and raising questions about potential market impacts. This rare transaction involves coins
The cryptocurrency market is currently presenting a mixed bag of signals, with XRP facing a concerning technical pattern, Shiba Inu exhibiting an “abnormal” price struggle, and Bitcoin achieving a significant breakout that, surprisingly, lacks conviction. Traders and investors are closely analyzing these distinct dynamics across major digital assets. XRP’s “Mini Death Cross” Signals Caution XRP … Continue reading "Crypto Market Watch: XRP Faces Bearish Signal, Shiba Inu’s Unusual Struggle, Bitcoin’s Muted Breakout" The post Crypto Market Watch: XRP Faces Bearish Signal, Shiba Inu’s Unusual Struggle, Bitcoin’s Muted Breakout appeared first on Cryptoknowmics-Crypto News and Media Platform .
Although Bitcoin (BTC) has recorded slight losses over the past 24 hours – following strong US employment data – the top cryptocurrency’s overall structure remains overwhelmingly bullish, promising new highs in the near term. Bitcoin Retests Bullish Megaphone Pattern According to an X post by crypto analyst Mister Crypto, BTC recently completed a successful retest of a bullish megaphone pattern. The analyst shared the following chart, suggesting that BTC may finally be ready for a breakout to a new all-time high (ATH). For the uninitiated, a bullish megaphone pattern occurs when price forms a broadening structure with higher highs and lower lows, followed by a breakout to the upside. It suggests growing volatility and buyer dominance, often leading to strong upward momentum once resistance is broken. Similarly, fellow crypto analyst Jelle commented on the latest BTC price action, noting that while the digital asset is still trading in a local range, it has successfully flipped previous local highs into support levels. The analyst added that there’s just one more resistance level to overcome – $112,000. A decisive breakout above this level could propel BTC into what he called the “thin air” zone. On a longer time frame, BTC appears to be steadily approaching a rising trendline formed by multiple previous resistance levels. Crypto analyst CryptoGoos noted that once Bitcoin breaks above this trendline, “sky is the limit.” Zooming out further, crypto trader Merlijn the Trader highlighted Bitcoin’s three-year uptrend. He believes the final phase of this uptrend has begun, potentially taking BTC to $240,000 in the coming months. BTC To Benefit From Short Squeeze? Bitcoin may also benefit from short liquidations. In a separate X post, seasoned crypto analyst Ali Martinez noted that over $30 million in short positions could be wiped out if BTC surges past $111,000. Short liquidations occur when traders who bet against an asset are forced to close their positions due to rising prices, typically by buying back the asset at a loss. This buying pressure can further drive prices up, often resulting in a rapid price surge known as a short squeeze. Meanwhile, there are no clear signs of exhaustion in the Bitcoin market. According to a recent analysis by CryptoQuant contributor Crypto Dan, the BTC bubble chart suggests that the asset is cooling off without overheating – implying more room for growth. That said, some risks remain. Bitcoin recently flashed a rare signal on the three-month chart that could foreshadow a brutal sell-off, possibly dragging the price down to $40,000. At press time, BTC trades at $107,701, down 1.6% in the past 24 hours.
Ali Martinez reveals potential for Bitcoin to reach new highs. Ethereum's stable movement may shift beyond $2,227-$3,385 range. Continue Reading: Crypto Market Movers: Bitcoin Eyes New Heights The post Crypto Market Movers: Bitcoin Eyes New Heights appeared first on COINTURK NEWS .
Coinbase’s head of product, Conor Grogan, has raised concerns over a massive $8.6 billion Bitcoin movement, suggesting it could potentially be the largest crypto heist in history. The Bitcoin, held
The Coinbase executive says he is “speculating on straws,” but if it is true, it would be “by far the largest heist in human history.”
More than $8 billion worth of bitcoin mined during the network’s earliest days — colloquially known as the “Satoshi era” — were moved Friday in the largest such transfer on record. Two wallets that had remained dormant for over 14 years each transferred 10,000 BTC to new addresses around early Friday, blockchain data shows. The two addresses had initially received their coins on April 3, 2011, when bitcoin traded at just 78 cents. That BTC is now worth over $1.1 billion per wallet at current prices, marking an appreciation of more than 13.9 million percent. The original source of the coins was wallet “1HqXB…gDwcK,” which sent 23,377.83 BTC to three separate wallets in 2011. Two of those — “12tLs…xj2me” and “1KbrS…AWJYm” — held the bulk until this week. The third wallet, which received 3,377 BTC, had already spent its funds in 2011. Late Friday, on-chain analysis firm Arkham flagged that six other wallets moved over 10,000 bitcoin (BTC) in quick succession, worth over $8.6 billion at current prices. The same entity apparently owns all of these wallets, Akrham said. However, no individual or company has publicly claimed ownership of these wallets as of Asian morning hours on Saturday. The transferred BTC was sent to fresh wallets using a modern, lower-fee address format. Neither of the new wallets has since moved the funds further, and the identity of the wallet owner remains unknown. All of these moved coins are among the rarest class of BTC: mined or transacted during the “Satoshi era,” a loosely defined period from bitcoin’s launch in 2009 through 2011, when its pseudonymous creator was still active online. Wallets from this time are considered part of crypto’s holy grail — rarely moved and often watched closely by traders for market signals, as any large sales could be perceived as an early believer or miner changing their stance on the market.
Bitcoin maintains a crucial $108,400 retest zone, signaling sustained bullish momentum as traders set their sights on $114K and a longer-term $180K target. The formation of a Golden Cross on
As the market sees a Friday retrace, Bitcoin (BTC) is attempting to reclaim a crucial area as support. An analyst suggests that the flagship crypto’s daily close could set the stage for a bullish end of the week despite potential volatility. Related Reading: SUI Prepares For Bullish Flag Breakout Amid $3 Reclaim – Analyst Doubles The Target Bitcoin Breakout To Come ‘Sooner Or Later’ At the start of the new quarter, Bitcoin has retested crucial levels, touching the $105,000 support and $110,000 resistance over the past four days. Amid its Tuesday pullback, the flagship crypto fell to a two-week low but managed to bounce from a crucial range. Analyst Sjuul from AltCryptoGems previously noted that BTC needed a strong rebound from the “most important” support and resistance area, between the $104,000 and $106,000 price levels, explaining that failing to hold this range would open the door for a drop to the range lows around $101,000. On Friday, the analyst highlighted Bitcoin’s price action after holding the key levels, which “provided the perfect entry for a bounce, just as expected.” Following this performance, he asserted that Bitcoin is expanding on its two-month Power of Three (Po3) setup, signaling that potential further expansion is ahead. Nonetheless, he pointed out that the flagship crypto is still trading in a two-month range, suggesting a volatile price action until the price successfully breaks out, which it has attempted to do earlier this week. “Since we are in a range, we are forced to respect the key levels of the range: high, mid, and low,” Sjuul detailed, adding that all eyes are currently on the mid-range, where bulls must step in to confirm the bullish move to the range high. Based on this, the analyst forecasted another move above the $110,00 mark, where “we have left a lot of unfinished business” and “plenty of liquidity lies.” He pointed to a huge cluster near the $111,000 area in BTC’s Liquidity Heatmap, affirming that “price is attracted by liquidity, so I am expecting that level to be visited sooner or later.” BTC Eyes Pivotal Closes After being rejected from the $108,000 at the start of the week, analyst Rekt Capital noted that Bitcoin broke out of two 2-week downtrends in the past 40 days but was rejected from the crucial 6-week diagonal downtrend, around the $108,000 mark, during the same timeframe. This week, BTC closed above this resistance twice, and daily closed above the $109,000 mark on Thursday. However, Friday’s pullback saw Bitcoin drop below the crucial level, falling to the $107,245 area. The analyst considers that a key retest of the pattern is in progress. He previously explained that any dipping into the top of Bitcoin’s pattern could “technically be considered additional retesting to further solidify the recently broken black diagonal resistance into new support.” Nonetheless, BTC must close today above the diagonal resistance for a successful retest. “Bitcoin is losing the diagonal for the moment. But if price Daily Closes above the diagonal, then this will have ended as a downside wick as part of a volatile retest. Upcoming Daily Close will be pivotal,” he stated. Related Reading: Ethereum Eyes Key Resistance As Price Reclaims $2,550 – Here Are The Levels To Watch Meanwhile, Bitcoin is also on the cusp of making history as its price nears the “final major Weekly resistance” around the $109,000. Rekt Capital detailed that if BTC closes above this level, it would confirm a break from this major resistance, which would likely unlock a new all-time high (ATH). He concluded that, with the recent weekend volatility, “we won’t know until the very last moment heading into the new Weekly Close whether this level has been flipped into support or not.” Featured Image from Unsplash.com, Chart from TradingView.com
Strömmer has encouraged the authorities to utilize more forfeiture laws that were put in place last November. These laws allow enforcement agencies to confiscate assets even if it cannot be proved that someone has broken the law. This means if officials believe that anyone has earned cryptocurrency illegally or that person cannot explain where the money came from, the police and other arms of the government will be able to acquire it by law. Swedish lawmakers advocate for a national Bitcoin reserve The new laws are one of the strictest in Europe, Strömmer noted. Following reliable sources, the rule prompted the seizure of 80 million Swedish kronor, equivalent to $8.4 million in assets. According to the website of the Swedish parliament, this law also applies to children and young people, as well as those who suffered from a severe mental disorder at the time of the crime. Based on the Minister of Justice they aim to ensure that the authorities work together more closely and pay special attention to assets that bring big profits. “Now it’s a matter of turning up the pressure further,” Strömmer said. Strömmer’s requests for more active seizures come as some Riksdag lawmakers advocate creating a national Bitcoin reserve . This approach resembles the trend in the US, Czechia, and Italy. In the meantime, a leading advocate of a Bitcoin reserve, Dennis Dioukarev, a Member of the Riksdag, commented on the topic of discussion. Dioukarev told reporters he agrees with Strömmer’s calls to increase seizure enforcement. He welcomed every effort to seize illegally obtained assets. Dioukarev argued that this would help to fight crime and make life hard for criminals. As for what will or should be done with seized crypto, Dioukarev reiterates his calls for the accumulation of a strategic reserve. Based on his explanation, cryptocurrencies in general and Bitcoin in particular that are confiscated should be transferred to Sweden’s central bank, the Riksbank, to build a strategic Bitcoin reserve. The Swedish authorities reveal increasing cryptocurrency adoption among criminals When reporters last asked Minister Strömmer’s press office about the fate of seized cryptocurrencies, one of his press officers responded that they could not answer those questions then. This inability to comment also extended to questions about what steps Strömmer and the Swedish government intend to take to enhance crypto-related asset seizures. In 2024, 62,000 individuals were part of or linked to criminal networks in Sweden, according to the Bloomsbury Intelligence & Security Institute. Drug dealers and money launderers were among those using cryptocurrency a lot, though it is hard to measure exactly how much. Additionally, in September, the Police Authority and the Financial Intelligence Unit in Sweden reported that some cryptocurrency exchanges were skilled money launderers. The report recommended that law enforcement gradually increase its monitoring and infiltration of crypto exchange platforms to help detect and disrupt illegal operations. KEY Difference Wire helps crypto brands break through and dominate headlines fast