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Robust BTC derivatives data indicates strong demand for leverage longs. Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark.  Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a Bitcoin spot exchange-traded fund (ETF) in the United States. Investors worry about the bearish global economic outlook Bears expect further macroeconomic data supporting a global economic contraction as the U.S. Federal Reserve holds their interest rate above 5.25% in order to curb inflation. For instance, on Nov. 6, China exports shrank 6.4% from a year earlier in October. Furthermore, Germany reported October industrial production down 1.4% versus prior month on Nov. 7. The weaker global economic activity has led to WTI oil prices dipping below $78 for the first time since late July, despite the potential ...

Over the course of 2023, several Satoshi-era Bitcoin wallets have risen from dormancy to transfer their BTC to a new address. Three Satoshi Era Bitcoin (BTC) whale addresses that have been dormant since November 2017 transfer red 6,500 BTC, estimated to be worth $230 million, on Nov. 2. Satoshi Era BTC refers to the very early stage of Bitcoin network when it was still relatively unknown. According to data from Bitinfocharts, the first wallet moved 2,550 BTC, estimated to be worth $90 million. A second address moved around 2,000 BTC worth $71 million, and the third address transfer red around 1,950 BTC worth $69 million. All three wallets had another thing in common, i.e., the last transaction from all three wallets came on Nov. 5, 2017, nearly six years ago. Thus, these wallets slept through the Bitcoin bull run and the all-time high of over $69,000. Most of the Bitcoin in the three whale wallets dates back to July 2011 and is linked to F2Pool, a Bitcoin mining pool, suggesting...

Bitcoin (BTC) pleasantly shocked the entire market with its recent surge, reaching the $35,000 milestone. Although it couldn’t maintain that level, the cryptocurrency experienced a minor correction and retraced to $34,000. At the time of writing, BTC is changing hands at $34,059.02, reflecting a 1.77% decline for the day. It’s worth mentioning that the asset saw a remarkable increase of more than 16% in the past couple of days. As BTC sits at its current value, a report from finder.com provides insights into future expectations, as interpreted by industry experts. As per a recent report, 31 analysts have come together to offer their projections for BTC’s price in 2025. The general agreement among those surveyed indicates that BTC is expected to end 2023 at a price of $30,000. It is anticipated to exceed its previous all-time high of $69,000 and reach a value of $87,000 by 2025. Source In the report, these experts engage in discussions about the likelihood of the S...

The Hong Kong-listed company seems to be no longer interested in crypto as AI-related products generated more returns. Meitu, a Chinese software developing company, is reportedly ready to sell its cryptocurrency holdings “at the appropriate time,” roughly two years after the firm started holding Bitcoin (BTC) and Ethereum (ETH) on its balance sheet. A senior investor relations manager at Meitu told the Headline Daily newspaper in a commentary that the firm’s recent profits were mainly attributed to the subscription model of its mobile applications as well as AI-based products. As for the cryptocurrency investment, Meitu is no longer focused on cryptocurrencies and “may sell them at the appropriate time,” according to a rough translation. You might also like: China sentences former party official to life in prison for enabling crypto mining Meitu first entered the crypto market a few years ago, when the firm purchased BTC and ETH worth aroun...

Trezor is celebrating its 10th anniversary by releasing three new self-custody products, focusing on providing entry-level devices. Trezor, a major provider of hardware cryptocurrency wallets, is celebrating its 10th anniversary by releasing three self-custody products, including a new Trezor wallet, a proprietary private key backup solution and a Bitcoin (BTC)-only wallet. The Czech Republic-based company on Oct. 12 officially announced the launch of Trezor Safe 3, its brand-new hardware wallet supporting more than 7,000 cryptocurrencies. The firm stressed that the new wallet launch marks an important milestone in Trezor’s provision of entry-level hardware wallets. The release of the Trezor Safe 3 wallet comes nearly five years after the hardware wallet firm rolled out the Trezor Model T in February 2018. Retailed for $79, Trezor Safe 3 is available in four colors, including Solar Gold, Stellar Silver, Galactic Rose and Cosmic Black. The new Trezor Safe 3 wallet device maintains Trez...

A new research paper titled “BitVM: Compute Anything on Bitcoin” proposes a novel method for executing complex computations and smart contracts on the Bitcoin network. The paper — published on Oct. 9 — suggests that users verify Bitcoin (BTC) computations without executing them on -chain . This is done using a prover-verifier model, where the prover claims the result of a calculation, and the verifier can check if the claim is valid. The prover first compiles the program into a large binary circuit of logic gates to achieve this. They commit to this circuit bit-by-bit using cryptographic commitments in a Taproot address. The verifier can then query the prover to reveal certain parts of the circuit and check if they are consistent. The paper shows that by using cleverly constructed “challenge-response” transactions signed by both parties, the verifier can detect any false claims by the prover through a series of binary searches. This allows arbitrary compu...

As September nears its end, the Bitcoin landscape brims with positivity. Indications hint at a forthcoming Bullish spree, especially if Bitcoin finishes the month on a green note. Besides, this month’s Bullish candle points to an upbeat October trajectory. Significantly, John Bollinger, the mastermind behind the Bollinger Bands , offered some valuable insights. On Thursday, the 73-year-old market maven highlighted a crucial two-bar reversal for $BTCUSD. This reversal, occurring on September 11/12 at the lower Bollinger Band, according to Bollinger, is pivotal. He mentioned, “This is a good setup for a walk up the upper band; just need a bit more strength to confirm.” Moreover, to provide a clearer perspective, he included a relevant chart. Additionally, a crypto analyst, Matthew Hayland echoed the sentiments about Bitcoin’s performance. In his Friday tweet, Hayland observed the two-week Bollinger Bands for Bitcoin are the tightest since 2015. Hence, these are the most c...

The world’s first and largest cryptocurrency , Bitcoin [BTC], emerged in 2008 and started being used in 2009. Currently, the leading cryptocurrency is valued at $26,618, and it reached a peak of $69,044 back in 2021. Despite its significant value and increasing popularity, the identity of the asset’s creator remains shrouded in mystery. Among the various claimants to the identity of Satoshi Nakamoto, one entity has garnered significant attention from the community. There have been suggestions connecting the creation of Bitcoin to the U.S. government, particularly the National Security Agency [NSA]. Daniel Roberts, co-founder of Iris Energy, resurfaced a long-standing theory, dating back to 1996. It was titled “How to Make a Mint: The Cryptography of Anonymous Electronic Cash.” The NSA invented Bitcoin? 1996 paper titled: HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH* Sources include "Tatsuaki Okamoto" 😳 Who else would be able to ...

1,432 individuals and corporations in South Korea have reported holding $98 million in crypto overseas, which is 70% of all reported assets. Cryptocurrencies like Bitcoin (BTC) accounted for the largest share of South Korea’s reported overseas assets in the latest report by the country’s tax organization. South Korea’s National Tax Service (NTS) issued an official announcement on Sept. 20, stating that 1,432 individuals and corporations reported overseas accounts in cryptocurrency this year. The total reported amount in crypto was 130.8 trillion Korean won (KRW), or $98 million, which makes up more than 70% of the total amount in all reported overseas assets. According to the official data, a total of 5,419 entities reported their overseas financial accounts, holding a total of 186.4 trillion KRW ($140 million) in assets like cryptocurrencies, stocks as well as deposits and savings. While cryptocurrencies were the biggest reported overseas assets by the amount of reported assets ,...

Bitcoin network fundamentals have never looked better, as optimism trickles back when it comes to BTC price strength in a key Fed rate decision week. Bitcoin (BTC) starts the new week with optimism as traders greet the first green weekly candle in over a month. BTC price strength appears to be gradually improving after a weak August and start of September, with BTC/USD climbing toward $27,000. A solid weekly close provides the backdrop to what promises to be an interesting few days, which will include a key United States macroeconomic event as a potential volatility driver. The Federal Reserve will meet to decide on interest rate policy — and any surprises could have significant repercussions for risk assets, including crypto. Elsewhere, things are looking promising for Bitcoin, with network fundamentals set to surge higher to new records. Strength “under the hood” is similarly being reflected in hodler behavior, with wallet numbers continuing to shoot higher regardless of BTC price ...

Bitcoin’s (BTC) price has surprisingly held steady after plummeting from near $30k levels and falling to the whereabouts of its current price point. The original crypto now faces the risk of breaking away from its pattern of higher highs and higher lows, which it had been following for most of 2023. BTC faces immediate resistance at around $28,000, with support at around $25,000. BTC had bounced from this support level in mid-June, before hitting a yearly high of $31,7000 a month later. However, another month later, BTC fell back to its mid-June support level and has been consolidating around that price price. Source: BTC/USDT Chart by Trading View Also Read: Bitcoin Miners Clean Energy Usage Now Exceeds 50% BTC’s Fibonacci Retracement indicated that the coin could rise to around $28k, before making any further moves. MACD (Moving Average Convergence Divergence) in the daily chart also shows that bulls are taking charge. Meanwhile, the RSI (Relative Strength Index...

The decentralized social media app friend.tech has been making it to the headlines yet again after recently being pronounced dead by community members. Earlier this week, the value locked on the protocol surpassed $20 million. However, at press time, the number was hovering around its newly created peak of $32.64 million. Source: DeFilLlama Also Read: NFTs: Stoner Cats Price Up 267% Despite SEC Cha rges Will friend.tech Be Able to Compete With X? As analyzed in a recent article, the trading volume on Fried.tech was seen picking up pace. In fact, the NFT trade volume on the Ethereum blockchain was $3 million less when compared to the friend.tech volume. The Director of Research at PROOF Collective recently pointed out that the decentralized social media platform has paid creators $1,100,000 in a span of merely 36 hours. This figure was substantially higher than the amount handed out by Ethereum NFT platforms to their creators [140,000]. On the thread, the e X ecutive went on to a...

The account that paid $500,000 to move $2,000 worth of Bitcoin was a Paxos server, the company stated. The account that overpaid $500,000 in fees on Sept. 10 for a Bitcoin (BTC) transfer belonged to Paxos, according to a Sept. 13 statement from the company. Paxos claimed that end users have not been affected and all user funds are safe. Paxos is most well-known as the issuer of stablecoins, including PayPal USD (PYUSD) and Pax Dollar (USDP), but also runs a crypto brokerage firm that carries Bitcoin. The statement comes after Twitter users were speculating that PayPal may have been responsible for the transaction, due to a related wallet account that had been identified by analytics platform OXT as belonging to PayPal. A Paxos representative told Cointelegraph that PayPal was not responsible, as the error was theirs, stating: “Paxos overpaid the BTC network fee on Sept. 10, 2023. This only impacted Paxos corporate operations. Paxos clients and end users have not been affected and all ...

BTC price weakness shows as Bitcoin analysts debate the likelihood of a return toward $20,000. Bitcoin (BTC) begins a key macro week in a weak place as 2023 BTC action begins to look like a “double top.” After a disappointing weekly close below $26,000, BTC/USD is struggling to catch a bid amid a return to low volatility. Analysts, already predicting downside, continue to forecast new local lows, and liquidity conditions are increasingly supporting their argument. Are there any silver linings on the horizon? One on-chain metric suggests that Bitcoin is “in the midst” of a major shakeout akin to March 2020. A rebound to “fair value” may also come courtesy of Bitcoin’s relative strength index (RSI), which has almost fully retraced its year-to-date gains to reach its lowest levels since the first week of January. Cointelegraph takes a look at these topics and more in the weekly rundown of key BTC price triggers. Weekly close makes BTC price double top a reality Bitcoin closing out the we...

On the latest episode of “Macro Markets,” Marcel Pechman explains the potential implications for crypto of the Federal Reserve losing $100 billion. On this week's episode of “Macro Markets,” Cointelegraph analyst Marcel Pechman delves into a thought-provoking discussion on the United States Federal Reserve’s financial woes. Pechman opens by highlighting how the Fed is grappling with staggering losses and emphasizes a fundamental macroeconomic principle: that overall wealth cannot be universally enhanced as demand for goods and services grows. This discrepancy underscores the challenges posed by inflation, real estate prices and the consequences of the Fed’s policies. Pechman concludes that the Fed is now paying the price for its loose monetary approach during the pandemic, prompting a grim outlook for the U.S. Treasury Department’s finances. Shifting gears, Pechman moves on to discuss European markets, with a spotlight on Novo Nordisk’s remarkable ascent. The Danish pharmaceutical...

Arkham Intelligence recently tracked down Grayscale’s on-chain Bitcoin Trust Holdings. The digital asset manager has publicly reported balances in the past but has never revealed details about the addresses of the Trust owing to security reasons. According to the Blockchain analytics platform, Grayscale Bitcoin Trust is the second-largest BTC entity globally. It holds more than $16 billion BTC. Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain. It is the 2nd largest BTC entity globally, holding >$16B of BTC. Though Grayscale publicly reports balances, they have refused to identify the on-chain addresses of the trust. https://t.co/uEN4kNldpm pic.twitter.com/p9GfrthoKR — Arkham (@ArkhamIntel) September 6, 2023 Also Read: Crypto: Grayscale AUM Drops 12% to $22 Billion Furthermore, Arkham revealed, “Their Bitcoin Trust holdings are spread across >1750 different addresses, with each holding no more than 1000 BTC....