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After the April halving event, there was a significant decrease in earnings for Bitcoin miners, however, there was a spike in sales for Bitcoins at the start of this month. Recent on-chain data analysis reveals that such sales are declining even further. Initially, miners withdrew around 50,000 bitcoins from exchanges every day, but now these…
In recent days, reports unveil El Salvador’s venture into Bitcoin mining, leveraging geothermal energy. The nation, currently holding 5750 BTC, mined 474 Bitcoins since 2021 through geothermal means. Notably, El Salvador’s Bitcoin stash is valued at approximately $355 million. Embracing Bitcoin: El Salvador’s Progressive Move El Salvador’s embrace of Bitcoin as a legal tender alongside…
Major Bitcoin owners made extraordinarily large purchases in a single day, totaling 47,500 BTC. CEO of CryptoQuant Ki Young Ju offered shrewd analysis, predicting a dramatic change in the market environment. Bitcoin Resilience: Less Stress from the Fed Bitcoin has surpassed $64,500 today, solidifying its position as the most popular cryptocurrency despite earlier losses. Since…
JPMorgan, a well-known bank among the biggest in the world and the United States, has released a study indicating that it will take a “cautious and prudent” approach to Bitcoin in the future. Bank analysts emphasize the persistent strength of the prevailing variables limiting Bitcoin’s rise in this research. But in the complex dynamics of…
Following the halving event, where miner rewards were halved, approximately 10 days ago, an individual miner successfully found a block solo, securing both the reward and transaction fees, amounting to nearly $220,000. Solo Success Amidst Diminishing Odds While the number of individual miners dwindles daily, they occasionally achieve solo block discoveries. Last night, a miner…
Investor and cryptocurrency analyst Arthur Hayes reaffirmed his optimistic outlook in a recent blog article. Because of the US elections and the depreciation of the major foreign currencies, there was early skepticism, but Hayes boldly predicted that prices would keep rising until they reached ludicrous levels. Hayes’s Confident Manner In his most recent blog post,…
Greyscale, the world’s largest asset manager, is challenging to maintain its dominance in the spot bitcoin ETF market. Despite a significant capital withdrawal from the GBTC core, Greyscale remains adamant. Ten has unveiled plans for a smaller bitcoin ETF that features more competitive fees, to fend off competition from rivals. Grayscale’s Response to Market Trends…
The Countdown to Halving With less than 2 days left before the crucial half-off event, where the daily supply of bitcoin drops from 900 to 450, miners are fiercely competing to mine a block the first after the half-reduction The first “satoshi” obtained from the initial half-reduction can fetch experts millions of dollars It is…
One of the main pioneers of MicroStrategy, Michael Saylor, has been vocal of late which has taken center stage, holding forth in his discourse the possibilities of imminent Bitcoin halving its valuation. There, Saylor waxed about the meaning of the Bitcoin halving that ripples the wave valves of Crypto Earth. MicroStrategy’s CEO nomenklatura, Michael Saylor…
Deutsche Bank, one of the world’s largest investment banks headquartered in Germany, conducted a notable survey regarding Bitcoin and cryptocurrencies. Interestingly, the survey indicates a gradual shift away from previously held negative sentiments towards the crypto sphere. Over half, 52%, believe cryptocurrencies will become significant investment assets. Expectations Below $20,000 by 2024 Among the intriguing…
Today, Eric Balchunas, an ETF analyst at Bloomberg, disclosed via social media that BlackRock has made revisions to its Bitcoin ETF prospectus. This update incorporates the addition of several new authorized participants, marking a significant development in the realm of digital assets. Notably, names such as Citadel, Goldman Sachs, UBS, and Citigroup emerge as fresh…
Recent data from SoSoValue has shed light on the movement within Bitcoin spot ETFs. On March 22nd, these ETFs experienced a notable net outflow totaling $51.6 million. This movement reflects a period of uncertainty and fluctuation in the market, prompting investors to reconsider their positions. Grayscale ETF GBTC: A Singular Event One standout in this…