Category: Cryptocurrency News

Tokyo Stock Exchange-listed AI solutions provider, Quantum Solutions, announced on July 23 its entry into the cryptocurrency investment business with an ambitious goal to hold up to 3,000 BTC within the next 12 months. The company justifies this move by citing the expanding global cryptocurrency market, BTC’s recognition as “digital gold,” and its growing appeal […]

Bitcoin (BTC) may be on the cusp of another rally, as leading cryptocurrency exchange Binance saw its spot volume rise from around 40% on July 15 to as high as 60% on July 18. Historical data suggests that surges in Binance’s spot market share have frequently preceded upward movements in BTC’s price. Bitcoin Rally Imminent? Binance Data Suggests So According to a CryptoQuant Quicktake post by contributor Amr Taha, Binance’s spot volume market share surging to 58% on July 23, has further strengthened the premier cryptocurrency’s $117,000 support. Related Reading: Bitcoin Sees Long-Term Holders Sell As Short-Term Buyers Step In – Sign Of Rally Exhaustion? This marks the second notable spike in Binance’s spot market dominance this month. On July 18, Binance’s share surged to 60%, coinciding with Bitcoin holding above the critical $117,000 mark on the daily chart. Since then, the $117,000 level has served as a reliable support zone, likely buoyed by Binance’s deep liquidity and high execution reliability. Price stability at this level has been observed multiple times since the initial breakout. In addition to this, Bitcoin’s price has shown strong resilience around the Realized Price of the 1-day to 1-week Unspent Transaction Output (UTXO) Age Band, which is currently near $118,300. For context, UTXO age bands classify Bitcoin held in wallets based on how long it has remained unspent, offering insight into investor behavior. Shorter bands – 1 day to 1 week – typically reflect activity by newer or speculative holders, while longer bands – 6 months to 5 years – are associated with long-term holders with stronger conviction. Taha explained: Historically, this metric acts as a dynamic support level, indicating that newer holders are not capitulating and that the average on-chain cost basis of recent buyers is being respected by the market. Meanwhile, fellow crypto analyst Titan of Crypto took to X to highlight BTC following the bullish inverse head and shoulders pattern. In an X post, the analyst shared the following weekly chart, adding that BTC is on track to hit a target of $144,000. Will BTC Hit $180,000 By Year End? Bitcoin’s recent all-time high (ATH) of $123,218 has reignited speculation around even higher price targets before year’s end. According to CryptoQuant analyst Chairman Lee, BTC remains on track to reach $180,000 by the end of 2025. Related Reading: Bitcoin Rally Not Over Yet? Short-Term Holder MVRV Suggests Further Upside Recent on-chain metrics support this bullish outlook. Notably, the Bitcoin IFP indicator suggests that major holders continue to hold BTC despite its proximity to record highs – unlike in previous cycles, where exchange inflows typically preceded significant corrections. However, not all indicators point upward. Exchange reserves recently reached their highest levels since June 25, raising concerns about potential sell pressure. At press time, BTC is trading at $119,097, up 0.6% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant, X, and TradingView.com

Galaxy Digital CEO Michael Novogratz says institutional interest may be the secret sauce that sees Ether outperform Bitcoin in the next three to six months.

Chairman of BitMine’s board of directors, Tom Lee, said the company wants to acquire and stake at least 5% of the total Ether supply, which would be over 6 million Ether.

The Ghanaian central bank is set to introduce a draft regulatory framework for licensing digital asset companies by September. Acknowledging Crypto’s Enduring Presence The Ghanaian central bank has reiterated its goal to license digital asset companies, stating that a draft regulatory framework to oversee them is set to be tabled in the nation’s parliament by […]

Christie’s, a crypto-forward auction house, has created a team dedicated to facilitating real estate deals that will solely use crypto.

Bitcoin continues to trade below its record high set earlier this month, hovering above the $119,000 mark. While price action over the past week has shown only a modest 0.3% gain, analysts suggest the market may be nearing a turning point. The sideways movement in price has not deterred the broader bullish outlook, but on-chain indicators now suggest caution may be warranted. One such indicator comes from CryptoQuant’s QuickTake contributor Arab Chain, who flagged potential overheating in Bitcoin’s current market structure. Related Reading: Bitcoin STH Realized Price Chart Reveals Key Defense Zones Amid Volatility Bitcoin Bullish Trend Persists, but Signs Point to Caution In a recent post, the analyst highlighted the behavior of the Bull and Bear Market Cycle Indicator, which now sits in a zone typically associated with strong bullish trends. However, its proximity to the so-called “overheated bull” range has raised concerns about a possible correction on the horizon. The indicator’s historical pattern suggests this zone often precedes a price cooldown, leading investors to consider profit-taking strategies. Arab Chain noted that despite the bullish structure, the indicator’s advance toward overheated territory could prompt speculators to close positions. “The proximity of overheated zones suggests that this is not the right time for a major purchase,” the analyst explained. The insight reflects the broader sentiment that market participants may opt for a wait-and-see approach, anticipating a more favorable re-entry after a correction. Additionally, while the 30-day to 365-day moving averages still support a continued uptrend, they may also signal that a short-term top is forming unless disrupted by new market catalysts. Retail Interest Remains Muted as Institutional Demand Grows Supporting this view, another CryptoQuant analyst, Burak Kesmeci, emphasized the role of institutional activity in driving the current cycle. Kesmeci explained that retail investors have reduced their exposure to Bitcoin since early 2023, while large investors have increased their holdings, particularly from early 2024 onward. “This time, the source of the Bitcoin rally is not retail — the big players are in the driver’s seat,” he wrote. This accumulation by high-volume wallets, likely linked to institutions or ETFs, highlights a shift from previous cycles dominated by retail behavior. Related Reading: Bitcoin Final Push? Wave (5) Could Deliver A Spectacular Breakout Kesmeci further pointed to Google Trends data showing that search interest in “Bitcoin” remains subdued compared to previous bull runs. The absence of widespread retail excitement contrasts with the intense public engagement seen during Bitcoin’s surge in 2021. According to Kesmeci, the quiet phase may indicate that retail has not yet entered the market en masse — a stage that historically signals the final leg of a bull cycle. “The crowd has not awakened yet,” he noted, adding that “smart money is currently on stage — and most people are still watching from the sidelines.” Featured image created with DALL-E, Chart from TradingView