The German government recently intensified its bitcoin sell-off, followed by a surprising buyback, highlighting the chaos in their bitcoin strategy.
The central bank mentioned handling government tenders through special purpose tokens to improve operational efficiency using smart contracts for bids and performance bonds.
Here's what might follow for BTC after the latest market decline.
Shiba Inu price could spike to the $0.001 territory if SHIB monthly volume grows to $1 trillion, according to assessments… The post Shiba Inu Potential Price Surge if Monthly Volume Hits $1 Trillion first appeared on The Crypto Basic .
The value of Bitcoin has experienced a pronounced dip at the beginning of Q3 2024, hitting multi-month lows. In an interesting turn, Bitcoin spot ETFs have recorded remarkable capital inflows despite the cryptocurrency’s declining prices. Significant capital investments were made into Bitcoin investment products, demonstrating investor confidence amid market volatility. Discover how Bitcoin spot ETFs
The spot market activity did not match the bearish sentiment evident in the derivatives market. There was an increase in Open Interest, which could support a continued price increase. Altcoins like Avalanche (AVAX) have managed to maintain recent gains even after a previous price dip, although some traders are betting against further uptrends. Discover what
Recently, two early Bitcoin adopters have moved millions worth of BTC after years of inactivity. This significant activity has caught the attention of the cryptocurrency community. One whale moved a total of 1,024 BTC while another transferred 22 BTC, both with considerable gains. Discover how two dormant Bitcoin wallets have come to life, shaking the
Prominent commodity trader is convinced that leading cryptocurrency going to reach new peak in August 2025
Crypto analyst Ali Martinez has offered an exciting bullish projection for the Bitcoin price. This analysis is even more interesting for the premier cryptocurrency after it fell to a multi-month low over the past week. Is A Return To $60,000 On The Cards For BTC Price? In a new post on the X platform, Martinez shared an interesting analysis of the Bitcoin price, explaining that the coin might be primed for a run to the upside. This is based on two bullish candlestick formations on the three-day chart. Firstly, the pundit noted that the price of BTC is forming a doji candle pattern on the three-day timeframe. As shown below, the specific candlestick pattern developing on the Bitcoin chart is the Dragonfly doji, which looks like a cross or plus sign but with its horizontal line close to the top. Related Reading: Finance CEO Raoul Pal Says Crypto Will Reach $100 Trillion Market Cap – Here’s When Typically, the dragonfly doji candlestick pattern is an indicator of a potential reversal depending on the price action. Considering that the market has been in a correction in recent days, a reversal would mean a movement of the Bitcoin price to the upside. It is worth noting that the dragonfly doji is not the most reliable signal of an imminent price reversal, as the indicator can be a sign of indecision amongst investors. However, Martinez pointed to another bullish formation that might also be indicating a potential trend reversal. The second bullish formation is based on the “Tom Demark” (TD) Sequential, which is used in technical analysis to spot potential points of trend exhaustion and price reversal. Martinez said that the indicator has flashed a buy signal on the three-day Bitcoin price chart. Typically, the TD Sequential is made up of two major phases, namely the “setup” and the “countdown.” The price of Bitcoin just completed the setup phase, which is made up of nine consecutive candles that closed lower than the candle four periods ago. The potential reversal point appears when the TD Sequential forms the number “9” on top of a candle in a bullish or bearish trend. As shown in the image highlighted by Martinez, the number “9” is on the doji candle suggesting a possible reversal. The question that will be on the minds of most investors is whether the premier cryptocurrency will return to $60,000. While the recent chart formations are suggesting an upward rally, it is difficult to pinpoint the magnitude of the potential bullish run. Bitcoin Price At A Glance As of this writing, the price of Bitcoin is on the verge of $58,000, reflecting a 2.7% gain in the last 24 hours. However, the market leader is still down by more than 5% in the past week. Featured image from iStock, chart from TradingView
The price of Bitcoin has not made a great start to the third quarter of 2024 after falling to a multi-month low over the past week. Bitcoin spot ETFs (exchange-traded funds), on the other hand, appear to be benefitting from the recent dip in prices, having posted a positive week in terms of capital flow.