Author: dfmines

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Steve Hanke, professor of applied economics at Johns Hopkins University, has heavily criticized a possible strategic bitcoin reserve move in the U.S. Hanke stated that it is a stupid idea and would put “a drag” on the economy. Economist Steve Hanke Opposes Strategic Bitcoin Reserve Proposal Old-school economists have started criticizing the idea of allocating […]

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there have been too many frauds on LinkedIn for blockchain engineers. one of recent exploit was targeted on an engineer in DMM Bitcoin and North Korean hacker got 30+ billions. every connection request is a fraud. I'm so tired of this. Anyone agrees with me? submitted by /u/Substantial_Web_8447 [link] [comments]

On-chain data shows the Bitcoin spot exchange inventory, which had been stuck in consolidation earlier, has finally started following a new trajectory. Bitcoin Spot Exchange Supply Has Seen A Sharp Plunge Recently In a new post on X, analyst Willy Woo has discussed about the trend in the Bitcoin spot exchange inventory. This metric keeps track of the total amount of the cryptocurrency that’s sitting in the wallets of all centralized spot exchanges. Related Reading: Dogecoin Jumps 20%, But Social Media Still Bearish: Green Signal For Rally? This part of the exchange supply refers to the actual tokens of the asset that exist on the blockchain. The exchange supply that doesn’t actually involve users to own BTC, as is the case with derivatives products, is known as “paper BTC.” When the spot exchange inventory rises, it means the investors are depositing a net number of coins into the wallets associated with these platforms. As one of the main reasons why holders might transfer their BTC to exchanges is for selling-related purposes, such a trend can have a bearish impact on the asset’s price. On the other hand, the indicator going down implies the exchange outflows are outweighing the exchange inflows. Investors usually take their coins off into self-custody when they plan to hold into the long-term, so this kind of trend can be bullish for the cryptocurrency. Now, here is a chart that shows the trend in the Bitcoin spot exchange inventory over the last couple of years: As displayed in the above graph, the Bitcoin spot exchange inventory saw a large plunge around the time of the FTX collapse back in November 2022. This suggests a large movement of coins occurred out of these platforms as the asset’s bear market reached its bottom. Following this plummet, the indicator started a phase of consolidation that lasted for the entirety of 2023 and most of 2024. The trend finally broke in the last couple of months of 2024, when the metric registered a sharp crash. These outflows came alongside Bitcoin’s exploration of new all-time highs, implying the accumulation from the investors might have played a role in the run. In total, 240,000 BTC exited the exchange-related wallets during this plunge. Related Reading: Dogecoin Bullish Signal: Whales Make $1.08 Billion Net DOGE Purchase Woo has pointed out that Microstrategy’s buying in this period summed up to about 192,000 BTC, which means there are other whales present in the market taking significant amounts off the exchanges. So far, the downtrend in the spot exchange inventory has shown no signs of reaching a bottom, as outflows have continued into 2025. If investors indeed keep up the accumulation in the near future as well, then Bitcoin could benefit from some further bullish momentum. BTC Price Bitcoin has continued its recovery in a sharp fashion during the last 24 hours as its price has broken back above the $101,700 mark. Featured image from Dall-E, woocharts.com, chart from TradingView.com

XRP should attain a 260% gain or a $6.40 price target after a breakout, but a delay may affect the chart pattern’s outcome, says Peter Brandt.

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The central bank governor, Aleš Michl, recently said he was considering investing in Bitcoin as part of the bank’s diversification strategy.

KULR, a company adopting a bitcoin-first strategy, has recently acquired $21 million worth of BTC as part of its accumulation program. The company aims to allocate 90% of its free cash reserves to bitcoin. KULR Kicks Off 2025 by Buying Bitcoin KULR, an energy management services company, has started 2025 by filling its bitcoin coffers. […]

Bitcoin (BTC) has surpassed the $100,000 threshold for the first time in two weeks, supported by revived momentum after the expected confirmation of Donald Trump’s US election win by Congress this week.  According to Bloomberg data, the market’s leading cryptocurrency climbed over 4% in the 24-hour time frame to hit $102,500 on Monday, recording a weekly rise of 11%—its highest surge since November 24. Bitcoin Rally Resumes: Surges Past $100,000 BTC’s performance in 2024 encountered a deceleration in late December as investors aimed to secure their gains. Nevertheless, enthusiasm for a pro-crypto government under Trump has rekindled interest, propelling Bitcoin to a record peak of $108,000.  As Congress prepares to assemble to certify Trump’s win, market sentiment appears optimistic. Khushboo Khullar, a venture partner at Lightning Ventures that invests in Bitcoin-related companies, stated, “A super cycle in 2025 is expected due to regulatory changes from the Trump administration.” Related Reading: Key Indicator Signals Buy On XRP 4-Hour Chart – Analyst Predicts A Price Rebound A notable surge of investment in Bitcoin exchange-traded funds (ETFs) has also fueled this momentum. On Friday, investors funneled a net $908 million into US Bitcoin ETFs.  This signaled the fifth-highest inflow since they were launched in January 2024, following a historic net outflow of $680 million on December 19. Another positive indicator for Bitcoin traders is the rebound of the Bitcoin Coinbase Premium, which gauges the price variance between Bitcoin on Coinbase and Binance.  Following its lowest point since Sam Bankman-Fried’s FTX fell in 2022, the premium has recovered, indicating a rising demand for Bitcoin among US investors.  Joe McCann, the CEO of Asymmetric, a crypto hedge fund located in Miami, pointed out that ETF issuers mainly transact with Coinbase, which implies that the demand for ETFs can affect the premium or discount rates. Key Support Levels Under Scrutiny As the market looks towards 2025, Bloomberg highlights that Bitcoin’s path will significantly rely on Trump’s dedication to his crypto-related pledges, encompassing a national Bitcoin reserve.  Nonetheless, doubts persist about the longevity of the ongoing rally. A recent MLIV Pulse survey revealed that 39% of participants viewed Bitcoin as the investment most prone to becoming a loser in 2025, the highest share of all choices. Regarding technical analysis, market expert Morecryptoonl pointed out that Bitcoin has formed a more distinct five-wave pattern, with a bearish outcome that is still feasible if specific support levels are violated.  Related Reading: Litecoin Comeback: LTC Breaks Free And Guns For $400 At present, wave two is required to maintain support, while wave one is technically finished but is anticipated to reach a minimum of $100,800. Crucial support zones have been pinpointed between $93,144 and $96,554, which might be examined after wave one validates its peak. Concerning Bitcoin ETFs, Glassnode asserts that the purchasing trend continues to be robust, owing to seasonal influences. With Inauguration Day nearing, the market analysis firm expects a higher purchasing activity from traditional finance investors, potentially impacting Bitcoin’s price movements further. At the time of writing, BTC has slipped back towards the $101,888 level but is still making significant gains on all time frames.  Featured image from DALL-E, chart from TradingView.com