President Trump’s Trump Media and Technology Group (TMTG) is reportedly in advanced talks to acquire Bakkt, a cryptocurrency trading venue owned by Intercontinental Exchange (ICE), in a potential all-share takeover, according to a report by the FT. With TMTG’s equity valuation at approximately $6 billion, the company is leveraging its market position to expand beyond […]
Bitcoin has recently been on a notable upward trajectory, trading near its new all-time high above $93,000. While this surge has heightened investors’ hope, analysts seem to be paying more attention to a deeper, long-term shift that could impact BTC’s future market price. Related Reading: Bitcoin Demand Outpaces Supply – On-Chain Metrics Reveal Low Seller Volume Market Shift Incoming For Bitcoin According to CryptoQuant analyst KriptoBaykusV2, an evident shift observed in the Bitcoin’s market is from its dwindling exchange reserves. The analyst reveals that the reserves have fallen from roughly 3.2 million at the beginning of 2023 to under 2.6 million today, signaling that more investors are moving their BTC from exchanges to cold storage. This movement typically suggests long-term holding intentions and less immediate selling pressure, which could lead to reduced market liquidity. KriptoBaykusV2 notes that a shrinking exchange reserve could pave the way for a potential market correction, especially as Bitcoin approaches the psychological threshold of $100,000. As prices rise, new market entrants and existing holders may become more inclined to take profits, potentially leading to an increase in sell orders and a temporary surge in exchange reserves. A Long-Term Bullish Outlook Despite the potential market correction, the broader implications of Bitcoin’s shrinking exchange reserves remain noteworthy. This decline also highlights a structural trend that may favor a long-term bullish outlook. The CryptoQuant analyst mentioned that as more investors choose to hold their Bitcoin off exchanges, the overall supply on trading platforms decreases, contributing to reduced liquidity. Should demand rise, this scarcity effect could intensify upward price pressures, potentially fueling the next phase of a bull market. KriptoBaykusV2 also emphasizes that the current behavior of Bitcoin holders reflects a maturing market. Unlike previous cycles marked by rapid speculation, today’s investors appear to be making more informed, strategic decisions. Related Reading: Bitcoin Miners Sold Over 3,000 BTC In The Past 48 Hours – Consolidation Phase Ahead? This change is further highlighted by growing institutional interest in the space. Institutions often adopt longer-term strategies, moving their holdings to cold wallets for security, further contributing to the depletion of exchange reserves. The analyst particularly wrote: One critical point here is that investors seem to be holding the Bitcoin they withdraw from exchanges as part of a long-term strategy. This signals a maturing market, with more informed investment decisions. If institutional interest continues to grow, the pace of reserve depletion could accelerate, further increasing upward pressure on prices. Meanwhile, Bitcoin is still trading below its all-time high (ATH). When writing, the asset trades for $91,116, up by 1.1% in the past day.
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Hey, we're organizing a writing contest with Gnosis, focused on some of the most important Ethereum questions: vanilla vs. liquid staking, protocol ossification vs. agility, L1 vs L2, and so on. It's based on the debates from Devconflict, with people like Vitalik, Martin Koeppelmann, Toni Wahrstätter from EF, Nixo from EthStaker, and many more. All…
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Dennis Porter, CEO and co-founder of the Satoshi Action Fund, recently announced the open-sourcing of a document for enacting Strategic Bitcoin Reserve laws internationally. He stated that several lawmakers are using the legislative model and that a related executive order to implement it could be on its way. Satoshi Action Fund CEO Releases Strategic Bitcoin […]
AI and big data crypto projects rebound sharply, nearing all-time highs as investor confidence surges in the ongoing Bitcoin rally.
Bitcoin bulls are getting rare key breakout signs from classic BTC price chart metrics this month.
Bitcoin (BTC) started the week by breaking out of a bullish pattern after moving sideways for most of the weekend. The flagship cryptocurrency just started its “parabolic phase,” sitting 3.4% below its all-time high (ATH), which could bring “massive moves” for BTC this week. Related Reading: Shiba Inu (SHIB) Ready To Roar! Analyst Calls For A 200% Spike Bitcoin ‘Parabolic Phase’ Just Started Bitcoin has seen a massive surge in the last two weeks, jumping 32% to the $89,000-$90,000 price range. BTC’s remarkable performance saw it soar 11% last Monday, preparing the ground for its eventual surge toward its latest ATH of $93,400 two days later. Since then, Bitcoin’s price has hovered between the $89,000-$92,000 range, briefly falling to $87,000 last Friday. Over the weekend, the flagship crypto continued to move within this rage, registering its largest weekly close in Bitcoin history. Crypto analyst Rekt Capital pointed out that BTC is barely starting its “parabolic phase,” noting that week three of the cycle’s “first price discovery uptrend” started today. The analyst explained that, historically, BTC has seen around 300 days of parabolic run each cycle, with the first major pullback coming over a month after entering price discovery mode. Per the post, it took six weeks before the flagship crypto’s first major pullback in 2013. In 2017, BTC rallied for eight weeks before registering a deeper pullback. Meanwhile, it soared for four weeks before experiencing a major retrace in the 2020-2021 cycle. Based on this, the analyst considers that “history suggests there’s more upside to come and that the first Price Discovery Correction is still weeks away.” Is A Move Massive Move Coming This Week? Ali Martinez noted that Bitcoin seems to be repeating 2020’s pattern. In 2020, after breaking its previous ATH of $19,700, BTC rose 26% and consolidated for a week. Following its consolidation, BTC jumped 66% toward $40,000 in the next two weeks. Martinez pointed out that Bitcoin has risen 28% since surpassing its March ATH and has been consolidating for nearly a week. This suggests that the cryptocurrency’s price could be getting ready for a substantial surge in the following days, potentially hitting the $100,000 mark this week. Crypto Yapper, another market watcher, stated that Bitcoin will likely make a “massive move” soon. The analyst highlighted the flagship crypto’s consolidation, noting the significant price action around the $89,000-$90,000 mark. Related Reading: Bitcoin Bulls Aren’t Backing Down: Rally Continues? This horizontal level acted as a key resistance zone earlier last week but has been confirmed as support throughout the past five days. As Bitcoin retested the $91,000 earlier today, the analyst also pointed out its price could continue the bullish trajectory and aim for a new ATH around $95,000. Additionally, BTC started the week breaking out of a one-week symmetrical triangle pattern. To Crypto Yapper, this is a “typical continuation pattern” for the cryptocurrency, which suggests that Bitcoin is set to continue its climb if the breakout is confirmed throughout the day. The analyst stated that BTC’s continuation of its uptrend could hit $100,000 by Sunday. As of this writing, Bitcoin is trading at $90,260, a 10% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
As blockchain ecosystems expand, multichain self-custody wallets emerge as a potential solution to fragmentation issues, promising improved user experience and broader Web3 adoption.
Haven't tried this in every region obviously but I have tried a lot, and I always get the message that eth staking in unavailable there. Are there any states or countries where staking eth is supported? submitted by /u/Lee355 [link] [comments]
