Author: dfmines

Cryptocurrency News and Public Mining Pools

Bitcoin traders eye bear trap as BTC price hits 10-day high of $60.4K

Bitcoin bulls may be able to trap late sellers below key bull market trendlines as BTC price weekend gains pass 5%.

Selling off RVN (NY US)

Hey yall, Ive been mining RVN for about 4 months now and have been looking at selling the coins Ive mined. The thing is where I am I cant use Binance. Does anyone who lives in another state where binance is blocked know a way I can sell my coins? Thanks submitted by …
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Market movement post Trump assassination attempt

I'm not a fan of Trump and would sooner see a Democrat win at the next election but I thought it was interesting to see the way the crypto market reacted. Could be the end of the German government's BTC sell off, could be the better economic data coming out of the US recently and…
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Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government?

Bitcoin went on a downward spiral in the first week of July to strike a bottom below $54,000 amidst an exacerbated selloff by some large holders. Various reports using on-chain data have blamed the selloffs on the German state of Saxony selling the bitcoins it seized earlier in the year. Related Reading: Bullish Bitcoin Indicator Which Led To A Reversal Has Returned, Is $70,000 Possible? Despite this considerable selloff, Bitcoin has primarily held its ground, and bulls have been successful in preventing additional price drops. According to on-chain data, Bitcoin’s standoff can be attributed to some whales, as many of them jumped on the price decrease to top up their holdings. Notably, Bitcoin whales added 71,000 BTC to their wallets this week.  Bitcoin Whales Acquire 71,000 BTC This Week This week, Bitcoin whales went on an absolute feeding frenzy by accumulating a whopping 71,000 BTC from crypto exchanges. While the German state of Saxony was busy offloading its crypto stash, these big players were more than happy to add to their already massive holdings.  This interesting activity from the whales was first noted on social media platform X by IntoTheBlock. A look at the chart below shows that the accumulation was at its peak during Bitcoin’s 15% drop from $63,600 on July 1 to $53,905 on July 5.   In addition to the whale accumulation, Spot Bitcoin ETFs witnessed steady inflows during the week despite the decline in the spot price. The funds recorded positive net flows every day during the week, with the largest net flow of $310 million on July 12.   Bitcoin Holding Up The German state of Saxony sold over $2 billion worth of Bitcoin last week and flooded the market with many BTC. When this selloff initially started, many traders and market participants were skeptical about whether an already bearish Bitcoin could survive the selling pressure. Many analysts were even anticipating a price decline towards $47,000. On the other hand, other analysts believed that the selloff was exaggerated. Despite this back-and-forth scene, Bitcoin managed to scale through the selloff and absorb the impact of the selloff better than many would expect. This showed that the cryptocurrency has now achieved stability, preventing further price declines. It also highlights the growing maturity of the crypto market, which has been characterized by a high level of volatility over the years. A $2 billion selloff is very small compared to Bitcoin’s market cap of $1.18 trillion. To break it down, that $2 billion represents less than 0.2% of Bitcoin’s total market cap. Related Reading: Analysts Unanimous: Solana (SOL) To Soar 100% – Details At the time of writing, Bitcoin is trading at $59,960. The bulls are now setting their eyes on breaking above $60,000 again. Breaking and holding above $60,000 would set the stage for a further price increase in the coming week.  Featured image from Getty Images, chart from TradingView

Why is the crypto market up today?

The crypto market is up today as crypto traders anticipate a Trump victory in November following a failed assassination attempt on the former president.

Report: Crypto User Base to Triple by 2026

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Bitcoin Price To Return Above $63,000? Here’s What Needs To Happen

The Bitcoin price has shown good signs of recovery over the past seven days, returning above $58,000 to end the week. Interestingly, a prominent crypto analyst on X has identified a chart formation signaling a potential continuation of this resurgence by the premier cryptocurrency. Bitcoin Price Prints This Chart Pattern — What Next? In a new post on the X platform, popular crypto analyst Ali Martinez shared an exciting analysis for the Bitcoin price over the next few days. According to the crypto pundit, the flagship cryptocurrency seems to be at a critical point for a bullish breakout that could see its price reclaim former highs. The rationale behind Martinez’s projection is the formation of an ascending triangle pattern on the Bitcoin four-hour price chart. An ascending triangle refers to a technical analysis pattern that features a horizontal line drawn along swing highs and a rising trendline drawn along swing lows. Related Reading: Why Did The Cardano Price Surge 17% Amid The Crypto Market Crash? Typically, ascending triangles are referred to as continuation patterns, as price often breaks out of the triangle in the prevalent trend direction (uptrend or downtrend) in the triangle formation. However, this is not always the case with the chart pattern.  Martinez highlighted that if the Bitcoin price successfully breaks above the triangle’s horizontal line, which is set around the $59,200 resistance level, it could continue its recovery journey. According to the analyst, the premier cryptocurrency could rally as high as the $63,800 mark. As of this writing, the price of Bitcoin stands at $59,431, breaking above the $59,200 following the failed assassination attempt on United States former President and vocal Bitcoin supporter Donald Trump. A sustained break above this level would make the $63,800 price projection more likely than ever. BTC Weighted Sentiment Falls To Lowest Level Since 2020 In another post on X, Martinez revealed that Bitcoin’s weighted sentiment witnessed a plunge following the coin’s recent decline to $53,300. According to data from Santiment, the weighted sentiment fell to -2 on July 5, its lowest level since the COVID-19 crash in March 2020.  A negative sentiment is not exactly a good sign for the Bitcoin price, as it could be a signal of further downside for the coin. Although the Bitcoin weighted sentiment hit a multi-year low a little over a week ago, it is currently moving towards the positive side. Related Reading: 180% Upside For Fetch.ai (FET)? Analyst Makes Bold Prediction Amid Market Jitters However, the metric is still negative at around -0.47 based on Martinez’s post on Saturday, July 13. This could imply further downside for the price of flagship cryptocurrency. Featured image from iStock, chart from TradingView

Bitcoin Reaches $60,000 After Shots Being Fired at Donald Trump

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Global Crypto Trading Volume to Surpass $108 Trillion in 2024, Europe Leads With 37.32%

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Bitcoin ATM Scams on the Rise: North Carolina AG Issues Warning and Tips to Stay Safe

North Carolina Attorney General Josh Stein has issued a warning about bitcoin ATM scams, following numerous complaints. The alert outlines tips to avoid such scams, emphasizing caution with unsolicited requests for cryptocurrency payments, online relationships turning financial, verifying investment advice, and avoiding get-rich-quick schemes. Victims are urged to report scams to local law enforcement and […]