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#bitcoin #btc #crypto market #bitcoin market #cryptocurrency #bitcoin news #cryptoquant #btcusdt

Bitcoin continues to maintain upward momentum despite a recent pullback from its all-time high. Currently trading at $117,847, the asset has recorded nearly a 10% gain over the past week. The dip from peak levels, approximately a 4.1% decline, has not dampened broader investor sentiment, with several on-chain indicators suggesting renewed buying interest and reduced selling pressure. Related Reading: Bitcoin Retail Demand Rebounds – $0–$10K Transfer Volume Turns Positive Bitcoin Whale Withdrawals Decline, While Stablecoins Flow In In a recent analysis posted to CryptoQuant’s QuickTake platform, analyst Amr Taha shared insights pointing to a strategic change in behavior among key Bitcoin holders and investors. The report, titled “Stablecoin Flood and Whale Retreat: Binance Moves Foreshadow Risk-On Sentiment”, outlined significant trends in whale activity and stablecoin flows that may support continued bullish momentum in the near term. Taha’s research highlighted a steep reduction in whale-level Bitcoin deposits on Binance. Over the past 30 days, these deposits have dropped from $6.75 billion to $4.5 billion, a $2.25 billion decline. Historically, large deposits from whales to centralized exchanges often signal an intention to sell, so the recent drop may imply a reduction in immediate sell-side pressure. This could stabilize Bitcoin’s price in the short term, especially if whales continue to hold or move assets to cold storage instead of preparing them for sale. At the same time, stablecoin flows have increased dramatically across major exchanges. On July 16, Binance and HTX saw combined stablecoin inflows exceeding $1.7 billion. Taha interpreted this as an indication that large entities, possibly institutions or whales, are preparing to accumulate digital assets. Large stablecoin deposits often precede significant buying activity, suggesting that the market could be gearing up for another leg higher, particularly if paired with reduced sell-side movements. Macroeconomic Developments and Miner Sentiment Add Context This on-chain activity is unfolding amid broader economic and political developments. Taha’s report also pointed to speculation around President Donald Trump’s comments during a private meeting, in which he reportedly considered replacing Federal Reserve Chair Jerome Powell. Though later denied, the remark sparked reactions in traditional markets, including a weaker dollar and rising bond yields. These shifts signaled a rotation into risk assets, potentially benefiting crypto markets as investors reallocate capital in anticipation of a more accommodative monetary stance. Related Reading: This Bitcoin Thesis ‘Will Retire Your Bloodline,’ Says Expert Separately, CryptoQuant analyst Arab Chain analyzed Bitcoin’s miner profitability using the Puell Multiple indicator. The data shows that while miners are currently making solid profits, the level has not reached historical peaks seen during prior market tops. In the 2017 and 2021 cycles, extreme miner profitability (indicated by Puell readings exceeding 2.0–3.0) often preceded sharp price corrections. At current levels, Arab Chain believes the market is not in a euphoric state, reducing the likelihood of imminent volatility due to miner-driven selloffs. Featured image created with DALL-E, Chart from TradingView

#bitcoin #crypto #btc #glassnode #fomo #bitcoin news #btcusd

Bitcoin has been on a tear lately. Prices jumped past $123,000 this week. Now, new figures show that fresh money is flowing into the market again. That’s a sharp change after months of muted retail interest. Related Reading: Avalanche Shatters Record With 20M Transactions—Is Real-World Use Finally Here? Fresh Capital Flooding In According to on‑chain data from Glassnode, first‑time buyers picked up an extra 140,000 BTC over the past two weeks. Their holdings climbed from 4.77 million to nearly 5  million BTC—a 2.86% rise. That influx of fresh coins helped push Bitcoin past its latest high. It also shows that new investors are gaining confidence in the world’s biggest cryptocurrency. Over the past two weeks, the supply held by first-time $BTC buyers rose by +2.86%, climbing from 4.77M to 4.91M #BTC. Fresh capital continues to enter the market, supporting the latest price breakout. pic.twitter.com/W95HSAMaHI — glassnode (@glassnode) July 17, 2025 Short‑Term Holders Hit A New Cost Base Newer players aren’t the only ones getting active. Based on reports, entities that bought Bitcoin within the last six months now sit on a cost basis above $100,000 for the first time. They’ve held on through price swings and have not yet sold at a loss. That suggests many expect the rally to continue. At the same time, holding on tight could create pressure if prices dip below their average buy‑in point. Dip Buyers Act Fast Glassnode’s cost‑basis heatmap revealed that buyers moved quickly when Bitcoin dipped below $116,000 earlier this week. About 196,600 BTC changed hands between $116,000 and $118,000. That buying spree added over $23  million in value near what looks like a local top. It’s a sign of strong resolve from those backing the market at lower levels. Altcoin Chat Outpaces Bitcoin Searches While whales and newer buyers are busy, the crowd on Google seems less thrilled. Search activity for “Bitcoin” ticked up modestly in the last fortnight, but it’s well below the highs seen when BTC first broke $100,000 this year. At the same time, data from Santiment indicate chatter has shifted toward altcoins. With Ethereum grabbing the spotlight, many retail investors appear more excited by tokens promising bigger short‑term moves. Related Reading: If You’re Wealthy, 1 Bitcoin Should Already Be In Your Wallet, Expert Says Retail Interest Remains Muted Despite soaring prices, everyday investors haven’t jumped back in en masse. Based on reports, the broad public’s FOMO hasn’t shown up in a big way yet. That lack of widespread buzz could limit how far and how fast Bitcoin goes from here. In past rallies, it was the flood of curiosity from casual buyers that turned spikes into parabolic runs. Featured image from Meta, chart from TradingView

#bitcoin #bitcoin price #btc #btcusd #btcusdt #xbtusd

Bitcoin price is attempting a fresh increase above $120,000. BTC is now consolidating and might attempt a steady move toward the $125,000 zone. Bitcoin started a fresh increase from the $115,800 zone. The price is trading above $119,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with resistance at $119,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $120,500 resistance zone. Bitcoin Price Eyes Fresh Upward Move Bitcoin price started a correction from the new high at $123,200. BTC dipped below the $120,000 level and tested the $115,500 zone. A low was formed at $115,730 and the price is now attempting a fresh increase. The bulls were above to push the price above the $118,000 and $118,500 resistance levels. There was a move above the 50% Fib retracement level of the move from the $123,140 swing high to the $115,730 low. Besides, there was a break above a bearish trend line with resistance at $119,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $119,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $120,200 level. The first key resistance is near the $121,400 level. It is close to the 76.4% Fib retracement level of the move from the $123,140 swing high to the $115,730 low. The next resistance could be $123,150. A close above the $123,150 resistance might send the price further higher. In the stated case, the price could rise and test the $124,200 resistance level. Any more gains might send the price toward the $125,000 level. The main target could be $126,200. Another Decline In BTC? If Bitcoin fails to rise above the $121,400 resistance zone, it could start another decline. Immediate support is near the $119,000 level and the 100 hourly SMA. The first major support is near the $117,500 level. The next support is now near the $115,500 zone. Any more losses might send the price toward the $113,500 support in the near term. The main support sits at $110,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $117,500, followed by $115,500. Major Resistance Levels – $121,400 and $123,150.

#markets #bitcoin #policy #people #tech #donald trump #token projects #companies #public equities

Nasdaq-listed Thumzup Media said its board has authorized the company to hold up to $250 million worth of cryptocurrencies.

#bitcoin #crypto #cbdc #stablecoins #trump #bitcoin news #btcusd #genius act #clarity act

A bill moving through Congress could reshape how big companies sell their shares. Senator Elizabeth Warren of Massachusetts warned that the CLARITY Act might let firms dodge long‑standing rules. Related Reading: If You’re Wealthy, 1 Bitcoin Should Already Be In Your Wallet, Expert Says Based on reports, the measure would shift certain tokens onto a “mature” blockchain and hand oversight to the CFTC instead of the SEC. Warren Warns Of A Regulatory Loophole According to Warren, the bill’s text would let any company listed on the NYSE put its stock on a qualifying blockchain. At that point, companies could escape SEC registration. She said that could “blow up the value of the NYSE” by cutting out investor protections. Under the draft, token sales using a functional chain still count as fundraising, but tokenized shares may slip free of SEC checks. She wants to limit US companies (Amazon, Meta, GE) to protect the “US economy” / NYSE? Not against NYSE, but it’s just one company, fully owned by ICE, market cap: ~$100 billion. Amazon market cap: $2.40 trillion. NYSE ≠ economy. All companies = economy. https://t.co/6Xo6QVgL1p — CZ ???? BNB (@cz_binance) July 17, 2025 Companies could raise money without filing the same forms. They would not need to share audited reports or follow proxy rules. Retail investors might face hidden risks if their favorite blue‑chip stock suddenly shifts on‑chain. Crypto Week Sees Multiple Bills This week in Washington is packed. The House Agriculture Committee and the House Financial Services Committee both cleared the CLARITY Act. It now heads toward the Senate, where approval is not guaranteed. (Update – On Wednesday, the GOP-led US House navigated crucial procedural checkpoints for crypto reform, just a day after President Donald Trump stepped in to keep the effort alive—clearing the path for America’s inaugural federal digital-asset statute. Those approvals came on the heels of more than nine hours of behind‑closed‑doors negotiations, as party leaders courted skeptics uneasy about the bill’s design.) US President Donald Trump said he expects these bills to land on his desk after Senate votes. Representative Andy Harris noted that the House Freedom Caucus plans to meet soon to add CBDC language into the CLARITY draft. Large parts of the market are watching closely. Token classification under one agency or another could shift billions in trading volume overnight. Related Reading: Massive Whale Profits $15 Million—Now Betting Big On Ethereum To Crash Industry Voices Split On Regulation Ripple CEO Brad Garlinghouse pointed out that over 55 million US citizens now use crypto. He cited a $3.4 trillion market cap and urged a clear framework to secure the industry’s future. On the other side, Americans for Financial Reform warned that the bill would curb the SEC’s powers to guard retail investors. They said it is more deregulatory than FIT21 from 2024, raising risks of scams and theft. SEC Commissioner Hester Peirce has said token rules should not remove securities‑law coverage where it belongs. Representatives Maxine Waters and Angie Craig also voiced concerns that the legislation favors big crypto players over everyday investors. Featured image from Meta, chart from TradingView

#ethereum #markets #bitcoin #solana #xrp #crypto market cap #token projects #market updates #bitcoin-price

One crypto analyst said the next technical resistance lies near $4.5 trillion, with potential downside risks in macroeconomic conditions.

#markets #bitcoin #token projects #bitcoin-price

The Satoshi-era whale's 80,000 BTC surged over 15.4 million percent since April 2011, from $62,400 to $9.6 billion.

#ethereum #bitcoin #eth #ether #altcoin #etfs #altcoins #ethusd

Yesterday’s inflows into US Ethereum spot ETFs hit a new high, and the market took notice. Ether’s price jumped sharply as big and small funds alike funneled fresh money into these products. Related Reading: If You’re Wealthy, 1 Bitcoin Should Already Be In Your Wallet, Expert Says Record Inflows Break Previous Highs According to latest data, US Ethereum spot ETFs saw a single‑day inflow of $727 million yesterday. That smashes the prior record of $428 million set on December 5. The nine funds tracked have now attracted new money every day for eight straight sessions before this surge. Based on reports, this eight‑day streak set the stage for what became the biggest one‑day haul in the ETFs’ history. Big Names Lead The Charge BlackRock’s iShares Ethereum Trust (ETHA) drew nearly $500 illion on Wednesday, pushing its total net inflow to $7.11 billion since launch. The Fidelity Ethereum Fund (FETH) wasn’t far behind, adding $113 million and lifting its cumulative haul to almost $2 billion. Other vehicles chipped in too: Grayscale’s Ethereum Trust (ETHE) hauled in $54 million, the Grayscale Mini Trust added $33 million, and Bitwise’s ETHW ETF contributed $14.5 million. Based on those figures, it’s clear that both institutions and everyday investors are jumping on board across multiple brands. ETF Leaders Dominate New Money Nate Geraci, president of ETF Stores, noted on social media that these ETFs have gathered close to $2 billion over the past five trading days. That pace of inflows shows the growing comfort level big players have with owning Ether through a familiar wrapper. Retail investors often follow institutional moves, so these numbers could spark even more demand. Ethereum Price Climbs Higher Ether’s price has climbed 9% in the last 24 hours, trading at $3,430 at the time of writing. According to market data, that level hasn’t been seen since January 31, when Ether last topped $3,370 before plunging below $1,500. The sharp rise underlines how sensitive Ether’s price can be to big capital flows into spot ETFs. Related Reading: Massive Whale Profits $15 Million—Now Betting Big On Ethereum To Crash Price Reaction Fuels Optimism Some analysts are now eyeing $4,000 as the next milestone for Ether. The altcoin’s renewed momentum could lift other altcoins too. If top‑10 tokens follow Ether’s lead, the broader crypto market may ride this wave higher. Strong inflows alone won’t guarantee sustained gains. Big inflows can reverse quickly if sentiment shifts or if traders chase profits too aggressively. But for now, the scene is bullish. If inflows keep rolling in and the price holds above $3,300, the push toward $4,000 might not be far off. Featured image from Unsplash, chart from TradingView

#bitcoin #btc #bitcoin news #bitcoin inflows #btcusdt

On-chain data shows the supply held by new Bitcoin buyers has seen a jump recently, a sign that the latest price rally is backed by fresh capital. First-Time Bitcoin Buyers Have Increased Supply By 2.86% In a new post on X, the on-chain analytics firm Glassnode has talked about the latest trend in the Bitcoin ‘First Buyers.’ This cohort is part of Glassnode’s broader investor classification system that is based on behavior. The First Buyers include, as the name already hints, the holders who are buying the cryptocurrency for the first time. The supply associated with the group, therefore, can be considered as a proxy of the fresh capital entering into the sector. Related Reading: XRP Close Above This Level Could Send Price To $4.80, Analyst Says Other groups part of the behavioral classification include Momentum Buyers, the investors who ride the tide of price trends, and Conviction Buyers, who step in to buy during price declines. Below is the chart shared by the analytics firm that shows the trend in the Bitcoin supply held by the First Buyers over the last couple of weeks. As displayed in the graph, the Bitcoin First Buyers have seen their supply go up during the last two weeks, implying that fresh capital has potentially been entering the market. More specifically, the cohort’s holdings have gone from 4.77 million BTC to 4.91 million BTC in this period, corresponding to an increase of around 140,000 tokens or 2.86%. This is notable and suggests the price surge to the new all-time high (ATH) has attracted real demand. In some other news, the Bitcoin Puell Multiple has been relatively muted even after the price rally, as an analyst has pointed out in a CryptoQuant Quicktake post. The Puell Multiple is an indicator that keeps track of the ratio between the daily value of coins being ‘issued’ by miners on the blockchain (in USD) and the 365-day moving average (MA) of the same. In short, the indicator informs us about whether the Bitcoin miners are currently making more revenue from block subsidy compared to the norm or not. Historically, the indicator shooting up to an extreme value has generally aligned with some sort of top for the cryptocurrency. As is visible in the chart, the BTC Puell Multiple is currently sitting around 1.2, which means that miners are making more than the average for the past year, but not by too much. If the past trend is anything to go by, this may be a potential sign that the current cycle still has room for growth. Related Reading: Bitcoin Next Key Level Is $136,000 If Momentum Holds, Glassnode Says Something to note, however, is the fact that the indicator’s peaks have been trending lower with each cycle. Thus, it’s possible that the metric would also top out at a lower level of miner revenue this time around. BTC Price Bitcoin hasn’t been able to sustain recovery since its low as its price is still trading around $117,000. Featured image from Dall-E, CryptoQuant.com, Glassnode.com, chart from TradingView.com

#bitcoin #btc #bitcoin news #bitcoin whale #btcusdt #bitcoin ath #bitcoin breakout #bitcoin whale activity #satoshi-era

After reaching a record high of $123,200, Bitcoin is now consolidating around the $118,000 level. Market participants remain on alert as top analyst Darkfost reported a major development involving one of the oldest and most closely watched wallets in crypto history. According to the analyst, the remaining 40,000 BTC—valued at approximately $4.75 billion—still held by the 80K Satoshi-era whale have all moved. Related Reading: Bitcoin Retail Demand Rebounds – $0–$10K Transfer Volume Turns Positive The shift began last night, signaling renewed activity from the early Bitcoin holder. Until now, only half of the whale’s holdings had been moved, while the rest remained dormant. This latest transfer marks the full mobilization of the entire 80,000 BTC once controlled by the entity. While the motive behind the move remains unknown, the market is watching closely for signs of potential selling or redistribution. Bitcoin’s ability to hold above key support levels despite this high-stakes movement may reflect strong demand and investor confidence. However, with $4.75 billion now in motion, traders are bracing for possible volatility ahead. The market is waiting to see if this event will trigger broader implications—or if it’s simply a strategic reshuffling from one of the ecosystem’s earliest whales. Satoshi-Era BTC Consolidates Into Single Address Darkfost highlighted a major on-chain development that has captured the market’s attention: Each of the four wallets, previously holding 10,000 BTC from the 80K whale, sent their funds to a single destination address bc1qs4nzm0je7wqfyfmqr4ht4upyzy57vc95nf4au0. This address now holds the entire $4.75 billion stash, raising new questions about the intent behind the move. According to Darkfost, while the pattern differs from previous sell-off precedents, the market must remain alert. “I guess these BTC might also end up hitting the market soon,” he commented. This kind of movement—especially from dormant, high-value wallets—often signals large-scale positioning, which can precede either institutional sales or strategic long-term storage. The timing coincides with rising bullish momentum across the crypto market. With Bitcoin consolidating above $118,000 following its $123,200 all-time high, traders are eyeing a potential breakout. Adding fuel to this outlook, all three key crypto-related bills were passed by the US House this week, removing significant regulatory uncertainty and clearing a path for broader adoption. Related Reading: SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip Bitcoin Weekly Chart Signals Fresh Momentum The weekly chart shows Bitcoin holding strong above $118,000 after surging to an all-time high of $123,200. This breakout follows a prolonged consolidation just below the $110,000 resistance, which acted as a ceiling for several months. Now turned support, the $109,300 and $103,600 zones are critical demand levels, offering a firm foundation for continuation if bulls maintain control. The structure of the recent weekly candles reflects bullish dominance, characterized by strong bodies and relatively small upper wicks. This suggests controlled profit-taking and growing confidence from buyers. Meanwhile, volume is picking up, confirming participation in the breakout and hinting at the possibility of sustained momentum in the coming weeks. Related Reading: Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth All major moving averages—50-week ($88,214), 100-week ($69,139), and 200-week ($50,254)—are trending upward and remain well below current price levels, reinforcing a long-term bullish trend. As Bitcoin consolidates above former resistance, this zone may now serve as a launchpad for a move toward the next psychological target at $130,000. Featured image from Dall-E, chart from TradingView

#us treasury #bitcoin #btc price #arkham intelligence #bitcoin price #btc #bitcoin news #btcusd #btcusdt #btc news #foia #cynthia lummis #us marshals service

A rumor is rapidly spreading among crypto investors that the US government may have quietly sold off nearly 170,000 BTC, leaving a fraction of its assumed holdings intact. The speculation began after the US Marshals Service, in response to a FOIA request, revealed that it currently holds only 28,988 BTC valued at approximately $3.4 billion.  Many crypto investors took this disclosure to mean that the federal government’s total Bitcoin reserves had declined from the long-assumed figure of around 200,000 BTC. The claim was amplified across the social media platform X, where even some public figures reacted to what appears to be a massive strategic sell-off by the US government. FOIA Request Misinterpreted The confusion of the US government selling the majority of its Bitcoin holdings appears to stem from misinterpretations of the specific holdings of the US Marshals Service with those of the entire federal government. The FOIA request that sparked the debate was submitted by journalist L0la L33tz, and it accurately reflects that the Marshals control just under 29,000 BTC. However, this only accounts for the Bitcoin under the custody of that particular agency. Related Reading: This Analyst Predicted Bitcoin’s Rally To $120,000 Months Ago, Here’s The Rest Of The Forecast On-chain data from blockchain analytics firm Arkham Intelligence provides a very different picture. According to Arkham, the US government as a whole still holds approximately 198,000 BTC, worth over $23.46 billion at the current price of Bitcoin. These coins are distributed across various federal agencies and are not limited to the Marshals’ holdings. Nevertheless, the misrepresentation took hold quickly.  Even US Senator Cynthia Lummis, who is a well-known advocate of Bitcoin, responded to the rumor, saying, “I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves, leaving just ~29,000 coins. If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.” What If the US Quietly Sold 170,000 BTC? The repercussions on the broader crypto market would be immense if the US government had indeed sold off 170,000 BTC in secret. A sale of that scale would unleash massive selling pressure and cause a strong drop in the price of Bitcoin. This would erode confidence among investors in the wider crypto market and set off a chain reaction of liquidations across other cryptocurrencies. Such a move would not only cause technical breakdowns in price structure but also cancel out the possibility of governments around the world holding crypto as a form of strategic reserve. Related Reading: Bitcoin Dominance Just Got Rejected From TSDT Resistance That Triggered Last Altcoin Season — Details Moreover, such a dump would directly contradict the federal policy direction set earlier this year. In March, President Donald Trump signed an executive order instructing all federal agencies to transfer their Bitcoin and digital asset holdings to the US Treasury. The order formalized the creation of a Bitcoin reserve, which was meant to recognize the cryptocurrency as a national asset. In light of that policy, the notion that the US would quietly sell off the majority of its Bitcoin holdings seems highly improbable under the current Trump administration. At the time of writing, Bitcoin is trading at $118,360. Featured image from Pixabay, chart from Tradingview.com

#el salvador #bitcoin #crypto #politics #adoption #featured

A July 15 report by the International Monetary Fund (IMF) suggests that El Salvador’s growing Bitcoin holdings are not the result of recent purchases, but rather a reorganization of existing assets. According to a footnote in the document: “Increases in [El Salvador’s] Bitcoin holdings in the Strategic Bitcoin Reserve Fund reflect the consolidation of Bitcoin […]
The post IMF claims El Salvador is NOT buying Bitcoin but simply moving coins between wallets appeared first on CryptoSlate.

#bitcoin

This ruling may accelerate crypto integration into traditional finance, potentially reshaping mortgage markets and financial regulations.
The post Court victory clears path for first Bitcoin mortgage in Australia appeared first on Crypto Briefing.

#ethereum #markets #bitcoin #defi #policy #coinbase #crypto #people #congress #regulation #dogecoin #exchanges #web3 #funds #base #ethereum etf #donald trump #memecoins #equities #token projects #mining companies #crypto infrastructure #companies #crypto ecosystems #layer 1s #layer 2s and scaling #u.s. policymaking #public equities #wallet makers #analyst reports

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

#bitcoin #us #crypto #politics #adoption #featured

The US Marshals Service (USMS) appears to hold just under 29,000 Bitcoin, far lower than the more than 200,000 BTC many believed the government had in custody. The updated figure, confirmed via a Freedom of Information Act (FOIA) request by independent crypto journalist L0la L33tz on July 16, puts the government’s total at 28,988 BTC […]
The post US Marshalls ‘forfeited’ Bitcoin stash may be $20B smaller than estimated, raising eyebrows about reserve appeared first on CryptoSlate.

#markets #bitcoin #policy #crime #legal #token projects #crypto ecosystems #layer 1s #court hearings

Valued at just £60,000 ($77,400) at the time of the theft in 2017, the bitcoin is now worth around £4.4 million ($5.9 million).

#bitcoin #btc price #crypto #bitcoin price #btc #bitcoin news #btcusd #btcusdt #crypto news #btc news

After rising rapidly over the weekend to hit new all-time highs, the Bitcoin price seems to have hit a brick wall above $120,000, sparking a correction. While this is expected to be a short correction, a notable development involving an 8-year trendline that has marked the top of previous cycles has emerged. If this trendline resistance holds and Bitcoin fails to break it, then it could mean that the top is in, and what usually follows is a drawn-out bear market. 8-Year Trendline Suggests Bitcoin Top Is In Crypto analyst MartyBoots, in an analysis on TradingView, caught a test of a an 8-year trendline which began back in the 2017-2018 cycle, marking the top of multiple bull markets. This trendline continued into the next major bull market and in the 2020-2021 bull market, the trendline once again marked the cycle top, with Bitcoin peaking at $69,000. Related Reading: This Analyst Predicted Bitcoin’s Rally To $120,000 Months Ago, Here’s The Rest Of The Forecast Presently, the Bitcoin price has once again come in contact with this trendline, and the rejection from here does suggest that this trendline could be the real deal. After hitting above $123,000, Bitcoin was promptly pushed back downward from this level as sell-offs and profit-taking became the order of the day. For this trend to be complete, though, there are a number of things that would need to happen first. For example, the analyst explains that investors should watch for the weakly RSI divergence turning bullish. Additionally, a decline in volume and more rejection wicks for Bitcoin would be confirmation that the price has topped. Marty also explained that the price touching this trendline for a third time increases the odds of it actually playing out the same way it has in the past. If this trendline does mark the top once again, then it could signal the start of another bear market. As the analyst explains, a top marked by this trendline has in the past “triggered multi-month correction and Bear Markets.” Still A Chance For Bullish Continuation The test of this trendline does not necessarily mean that the Bitcoin price has to top at this level, because there is still a chance of bullish continuation. As the analyst explains, a decisive break above the trendline would turn this level into support and trigger further upside. Related Reading: Ethereum Forms ‘Pure Cup And Handle’ Pattern After Hitting $3,000, Analysts Set New Targets In addition to this, there is also a lot of buying pressure on the Bitcoin price despite the profit-taking. More importantly is the fact that very large orders await at the $114,000 level. This shows a lot of demand for BTC, something that could drive the price upward as the cost basis for investors remains on the rise. Nevertheless, the analyst advises caution at this level until there is a confirmation either way. “Risk-management alert: consider tightening stops, reducing leverage, or hedging until trendline fate is resolved,” Marty said in closing. Featured image from Dall.E, chart from TradingView.com

#bitcoin #cbdcs #btc #crypto market #btcusdt #cryptocurrency market news #us congress #us house of representatives #crypto legislation #stablecoin regulation #btc ath #us president donald trump #genius act #clarity act

Crypto legislation appears to be back on track after US lawmakers passed a motion to reconsider three crucial digital asset bills in a narrow vote. This effort follows Tuesday’s failed attempt to advance the proposed legislation to a floor debate during the “Crypto week.” Related Reading: SUI Eyes 140% Move As Price Reclaims $4 – New ATH Imminent? US House Passes Motion To Reconsider On Wednesday, the US House of Representatives voted on a motion to reconsider three major crypto legislations that failed to pass their procedural vote on Tuesday. As reported by NewsBTC, Congress’s lower chamber blocked the motion in a 196-223 vote, with 13 Republicans siding with the Democrats. Following the failed vote, Lawmakers had reportedly planned to hold a vote to reconsider the motion for later in the day, but it was ultimately scheduled for Wednesday morning.  On Tuesday night, US President Donald Trump personally met with 11 of the 12 Republican representatives needed to pass the bills, securing their support. The lawmakers met for the second time this week to decide the fate of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, the Digital Asset Market Clarity (CLARITY) Act of 2025, and the anti-CBDC (Central Bank Digital Currency) bill. The motion to reconsider the trio of bills cleared the House in a 215-211 vote, with all Republican representatives voting in favor this time. Now, the US House prepares to hold a new procedural vote later today and decide whether to send the three landmark bills to a final vote. Representative Andy Harris shared on X that “House Freedom Caucus Members will be voting in favor of the rule today after reaching an agreement with President Trump last night.” Under the agreement, the House Committee on Rules will meet today to include “clear, strong, anti–Central Bank Digital Currency (CBDC) provisions to the CLARITY legislation” to ensure Americans are “protected from government overreach into their financial privacy.” Crypto Legislation Faces New Challenges Despite the crucial approval of a motion to reconsider, the bills now face a new roadblock. Politico reporter Meredith Lee Hill revealed that “there’s another crypto mess unfolding on the House floor.” In a series of X posts, the journalist affirmed that the potential merger of two of the three crypto legislations could pose a problem for the upcoming vote. Seemingly, the House Grand Old Party (GOP) leaders are trying to combine the House’s market structure and anti-CBDC bills after passing the floor. However, Republicans from the House Financial Services Committee are hesitating at that plan, as it “will doom Clarity.” House Agriculture Committee Republican representatives also consider that combining the two bills could kill the CLARITY Act, arguing that “even the threat of doing this emergency rules meeting may have already done so.” Journalist Eleanor Terret added that combining the bills could make CLARITY harder to pass because “they risk losing Dem votes over the anti-CBDC language.” A GOP Senate staffer reportedly told Terret that they are “just hoping the House can move something, anything, so crypto legislation can survive to the next step. We have options to move forward, but no one wants another failed vote that kills momentum.” Related Reading: Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report Meanwhile, the GENIUS Act would remain a standalone bill, despite previous attempts to merge it with the market structure bill. Since it already passed the Senate, the bill only needs to pass the final House vote to head to President Trump’s desk. Despite the legislative uncertainty, the crypto market continues to recover from yesterday’s drop, with Bitcoin (BTC) holding the $119,000 area as support. Featured Image from Unsplash.com, Chart from TradingView.com

#markets #bitcoin #people #token projects #mining companies #crypto infrastructure #companies #crypto ecosystems #layer 1s

The same bitcoin whale transferred 40,010 BTC to Galaxy Digital earlier this week, according to Arkham, signaling potential selling.

#bitcoin #btc #bitcoin market #cryptocurrency #bitcoin news #cryptoquant #btcusdt

Bitcoin (BTC) is showing signs of recovery following a brief market retreat triggered by the latest US Consumer Price Index (CPI) update. The asset had slipped to lows near $116,000 following inflation data. However, BTC has rebounded since, reaching $119,248 earlier today and trading at $119,187 at the time of writing, roughly 3.1% below its all-time high of $123,000 set earlier this week. While broader macroeconomic concerns are shaping price sentiment, new on-chain metrics from the mining sector are drawing attention. A CryptoQuant analyst has watched miner activity closely, as some key indicators suggest that miners may be preparing to sell. This development could influence short-term price action, though the broader outlook for Bitcoin remains largely unchanged, according to the analyst. Bitcoin Miner Behavior Points to Short-Term Pressures CryptoQuant contributor Avocado Onchain highlighted in a recent post that the Miner Position Index (MPI) has jumped to 2.7. This index compares the amount of Bitcoin being moved by miners to exchanges with the historical one-year average. A high MPI reading generally implies increased selling intent, as miners move assets to trading platforms. Avocado noted that the current reading may indicate mild selling pressure, which could contribute to a near-term correction or sideways trading pattern. However, he also emphasized that the current MPI value is still far from the elevated levels typically observed at market cycle peaks. The analyst suggested that this activity may be part of a recurring intra-cycle trend in which brief corrections are followed by further upward movement. He advised that it remains uncertain whether this miner activity marks a one-off event or signals a larger selling wave. Either scenario may affect short-term volatility, but not necessarily the broader trajectory. Network Flows Support the Data Trend In a separate analysis, CryptoQuant contributor Arab Chain examined the implications of increased miner activity. According to their findings, network data reveals a noticeable uptick in miner-related movements, levels last seen in November 2024. Arab Chain explained that while miner activity on the blockchain is rising, this alone doesn’t confirm sales unless Bitcoin is transferred to exchanges. Related Reading: Bitcoin OG Whale Moves 40,000 BTC To Galaxy, Triggering Market Shock To further validate the outlook, Arab Chain analyzed platform inflow data. They observed a correlation between BTC transfers to exchanges and Bitcoin’s recent climb above $116,000. This movement may indicate that miners view current prices as favorable for selling, possibly to cover operational costs or secure liquidity. The data also hints at miners anticipating a potential correction, which could drive more transfers and further market fluctuations. They concluded that the extent of any correction would largely depend on whether this wave of miner activity persists. Featured image created with DALL-E, Chart from TradingView

#bitcoin #crypto #btc #open interest #digital asset #cryptocurrency #derivatives exchange #bitcoin news #on-chain analysis #btcusdt #coinbase premium index

Bitcoin (BTC) is currently stabilizing within the $116,000 to $120,000 range. However, fresh liquidity totalling $2 billion in stablecoins could help propel the flagship cryptocurrency to new all-time highs (ATHs). Bitcoin To Benefit From Fresh Liquidity According to a CryptoQuant Quicktake post by contributor Amr Taha, more than $2 billion worth of stablecoins – primarily Tether (USDT) – were deposited into major derivatives trading platforms earlier today. Related Reading: Bitcoin Profit-Taking Spikes Without Price Drop – Strong Demand Or Delayed Reaction? Taha believes that this surge in inflows signals increased appetite for leveraged positions among seasoned traders, many of whom are anticipating a potential breakout in BTC’s price. Notably, this fresh batch of USDT was minted by Tether Treasury, suggesting institutional demand is driving the activity. Historically, large-scale stablecoin inflows have preceded bullish market momentum, as traders often use them to open long positions on Bitcoin and altcoin futures and perpetual contracts. Rapid stablecoin deposits into derivatives exchanges often act as a leading indicator for major price rallies. Meanwhile, fellow CryptoQuant contributor TraderOasis pointed to rising Open Interest, noting that it is increasing alongside BTC’s price – a classic signal of strong bullish sentiment. To explain, rising open interest in tandem with a rising Bitcoin price typically signals increasing market participation and bullish sentiment, as more traders are opening positions expecting further upside. However, it can also indicate a buildup of leverage, which may lead to heightened volatility or a sharp correction if sentiment shifts. The analyst also highlighted the Coinbase Premium Index, which remains above zero – a sign that US-based buyers are paying a premium over global spot prices. They added that the indicator is currently within a ‘Breaker’ structure, sharing the following chart for context. TraderOasis noted that while BTC price is rising, the Coinbase Premium Index indicator has remained relatively flat. The analyst explained: This suggests to me that major players are taking profits. If the descending trend structure I marked with an arrow is broken, the price is likely to rise much more strongly. On the other hand, if the indicator drops below the ‘0’ level, I may consider it a buying signal, as we are still in a macro bullish market. Short-Term Pullback For BTC? While the $2 billion stablecoin injection is likely to act as a bullish catalyst for BTC and the broader crypto market, some exchange data suggests a potential short-term pullback before the next leg up. Related Reading: No Mania Yet: Bitcoin ATH Lacks Hype, Suggesting Further Upside Potential For instance, BTC deposits to exchanges spiked after the digital asset hit a recent high around $123,000 – a pattern that often precedes local tops and is typically followed by a price correction. That said, despite recent profit-taking, BTC has not experienced a major price drop, pointing to robust underlying demand. At press time, BTC trades at $119,171, up 2.4% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com

#bitcoin #crypto #btc #crypto market #bitcoin market #bitcoin news #cryptoquant #btcusdt

Bitcoin has begun to recover after a brief decline triggered by the latest US Consumer Price Index (CPI) data. On July 15, the asset dropped to a low of $116,000 in response to news that inflation rose to 2.7% in June, amid continued concerns over tariffs from the Trump administration. As of this writing, Bitcoin is trading at $118,439, reflecting a 1.8% gain over the past 24 hours, which suggests that some investor confidence has returned to the market despite recent volatility. This short-term rebound occurs amid increasing on-chain and market activity, which analysts are closely tracking. One such contributor, Trader Oasis, recently published an analysis on CryptoQuant outlining various indicators tied to Bitcoin’s current movement. Related Reading: Bitcoin Returns Under $117,000: Is Social Media FOMO To Blame? Bitcoin Open Interest, Price Divergence, and Institutional Signals The analyst explored a range of technical and behavioral metrics, including open interest, Coinbase premium index, and funding rates, that are influencing BTC’s recent price behavior and hinting at what may lie ahead. Trader Oasis began by noting that Bitcoin’s breach of the $107,000 resistance signaled the beginning of a potential distribution phase. He pointed out that a divergence between price and open interest acted as a preliminary bullish signal, preceding the asset’s climb. The current state, where both price and open interest are rising in tandem, is seen by some as a sign of strengthening momentum in the market. He also evaluated data from the Coinbase Premium Index, which remains above zero, typically seen as an indication of institutional demand. However, Oasis observed that the indicator’s flat behavior, even as price rises, could imply large entities are securing profits. He further suggested that a breakout above the descending trend line could trigger a stronger upward move, but a fall below zero might represent a new entry signal. Regarding funding rates, he noted that the current rise reflects renewed market confidence, although it is still below previous extreme levels. This, in his view, implies that while enthusiasm exists, excessive leverage is not yet present. Profit-Taking Rises as Binance Dominates Realized Flows A separate analysis by another CryptoQuant contributor, Crazzyblockk, looked at the realized profit and loss (PnL) across centralized exchanges. According to the data, Bitcoin investors realized $9.29 billion in profits in a single day, marking a record high for such flows. This surge in realized PnL reflects widespread profit-taking in the wake of Bitcoin’s recent price rally, especially among short-term holders. Related Reading: Dormant Bitcoin Wallet Moves $1.2B in BTC: Is A Major Sell-Off Coming? On Binance specifically, the realized PnL remains below its all-time highs but has seen a rising share compared to other exchanges. Data shows that on some days, Binance’s share of realized profits has reached up to 60%, reinforcing its growing importance in shaping market behavior. Crazzyblockk concluded that this concentrated profit-taking, led by Binance users, could indicate a shift in market dynamics, noting: Binance’s increasing dominance in realized PnL flows reinforces its critical role in market sentiment and liquidity. For traders and analysts, it is crucial to closely monitor Binance’s on-chain activity alongside other exchanges to stay ahead of potential volatility. Featured image created with DALL-E, Chart from TradingView

#markets #bitcoin #infrastructure #token projects #crypto ecosystems #bitcoin-mining

Lawmakers said electricity producers currently sell overproduced energy at a loss due to a lack of storage.

#bitcoin #bitcoin price #btc #btcusd #btcusdt #xbtusd

Bitcoin price started a downside correction from the $123,200 zone. BTC is now consolidating below $120,000 and might attempt a fresh increase. Bitcoin started a fresh decline from the new all-time high near $123,200. The price is trading below $119,500 and the 100 hourly Simple moving average. There is a rising channel forming with support at $118,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $120,000 resistance zone. Bitcoin Price Hits Support Bitcoin price started a downside correction from the new all-time high at $123,200. BTC dipped below the $122,000 and $120,000 support levels to enter a short-term bearish zone. The price traded below the 23.6% Fib retracement level of the upward move from the $108,636 swing low to the $123,140 high. However, the downside was limited and the price found support near the $115,800 zone. The bulls protected a move below $118,000. The price stayed above the 50% Fib retracement level of the upward move from the $108,636 swing low to the $123,140 high. Bitcoin is now trading below $119,500 and the 100 hourly Simple moving average. There is also a rising channel forming with support at $118,200 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $119,200 level. The first key resistance is near the $119,500 level. The next resistance could be $120,000. A close above the $120,000 resistance might send the price further higher. In the stated case, the price could rise and test the $121,200 resistance level. Any more gains might send the price toward the $122,000 level. The main target could be $123,200. More Losses In BTC? If Bitcoin fails to rise above the $120,000 resistance zone, it could continue to move down. Immediate support is near the $118,200 level and the channel. The first major support is near the $116,500 level. The next support is now near the $115,500 zone. Any more losses might send the price toward the $113,500 support in the near term. The main support sits at $110,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $118,200, followed by $115,500. Major Resistance Levels – $120,000 and $122,000.

#bitcoin #bitcoin price #btc #bitcoin news #btc price analysis #bitcoin price analysis #btcusd

The Bitcoin price has been cooling off on low timeframes, while the altcoin markets take advantage to trend higher. The top cryptocurrency has been struggling as major holders take profit at BTC’s current level. Related Reading: Altcoin Season Index Spikes Above 30, But Bitcoin Dominance Remains High, What Next? At the time of writing, the Bitcoin price trades around $118,800 with a 2% gain over the last 24 hours and a 9% gain over the past week, according to data from CoinGecko. Conversely, Ethereum, XRP, and Dogecoin have seen gains north of 16% on similar timeframes. BTC's price trends to the upside on the daily chart. Source: BTCUSD on Tradingview Bitcoin Price At Critical Levels, More Gains On The Horizon Following a major upside push from below $100,000, the Bitcoin price broke a persistent downtrend and managed to hit a fresh all-time high close to its current levels. As mentioned, a report from on-chain analytics firm Glassnode claimed an increase in profit taking from short-term holders. As these players exited the market, taking over $3.5 billion in profits in just 24 hours, the Bitcoin price lose steam and began moving sideways. While Bitcoin has been on a violent bull run, there are still fears of a major pullback from the $118,000 area to the support zone at around $110,000. However, a report from CryptoQuant, with data from top analyst Crypto Dan, suggests that the Bitcoin bull run still has some room for another leg up. As seen in the chart below, the current BTC market is nowhere near the overheated levels recorded in March and December of 2024. BTC's Realized Cap Age Bands as measured by UTXOs far from previous bear market levels. Source: Crypto Dan via CryptoQuant The CryptoQuant post stated the following, sharing an insight from Crypto Dan: (…) unlike in March and December 2024, on-chain data indicating market overheating shows that the market still hasn’t reached an overheated state. Despite the price rising even higher, the fact that overheating has significantly decreased compared to previous short-term peaks suggests that Bitcoin could continue to break all-time highs and rise significantly in the second half of 2025, leaving strong potential for growth. Bitcoin Bull Run Far From Over? In this context, and if bulls are able to sustain the momentum, Bitcoin is likely heading for higher. As NewsBTC covered earlier, a prediction from a top analyst claims that the levels of BTC adoption are unprecedented. Related Reading: This Fibonacci Level Puts The Dogecoin Price Above $10 This Cycle As such, the analyst said that the ‘real Bitcoin move’ is only about to begin. The analyst stated: I have a high degree of confidence that we’ll see $400k by the end of this year. This target might be too conservative. Cover image from ChatGPT, BTCUSD chart from Tradingview

#bitcoin #mining #crypto #btc #regulation #legislation #france #featured

French lawmakers have doubled down on their plans for Bitcoin mining by highlighting that the country could generate an annual revenue of up to $150 million from the industry. In a July 11 bill submitted to the French National Assembly, the lawmakers outlined a five-year pilot program allowing electricity producers to redirect excess power, often […]
The post French lawmakers say country could generate $150M in annual revenue from Bitcoin mining appeared first on CryptoSlate.

#ethereum #bitcoin #crypto #eth #altcoin #altcoins #ethusd #shorting

A well-known crypto whale has made a big move against Ethereum, opening a $62.42 million short position using 18x leverage. The trader, identified by the wallet address “0x2258…”, is betting heavily that ETH won’t climb anytime soon—and so far, the gamble is paying off. Related Reading: Avalanche Shatters Record With 20M Transactions—Is Real-World Use Finally Here? Based on blockchain data monitored via Hyperdash, the whale shorted 20,474 ETH at an entry point of $3,060. As ETH has been trading at levels lower than $3,000 at the time of writing, the whale is already enjoying an unrealized profit of approximately $1.14 million, or returns of 30%. Ethereum Under Pressure Below $3,500 The liquidation value of the position is at $3,505 — near where ETH traded previously in January 2025. That point is now serving as very powerful resistance. If the price exceeds that level, the position stands to be completely liquidated. Whale 0x2258, who’s already made over $15M, is shorting $ETH with 18x leverage, holding a position of 20,474 $ETH($62.5M). This whale has previously profited big by trading against James Wynn.https://t.co/BALllYbUXbhttps://t.co/NhOE1YD4QN pic.twitter.com/7k5ZE81Noa — Lookonchain (@lookonchain) July 15, 2025 Despite that narrow buffer, the trader seems confident. The use of 18x leverage suggests a high-conviction call that ETH will drop further or, at the very least, won’t bounce past that resistance level in the short term. This kind of heavy shorting is raising eyebrows in a market that’s still undecided on whether Ethereum can regain bullish momentum alongside Bitcoin. Track Record Of Outsmarting James Wynn This isn’t the first time “0x2258…” has stepped in with bold trades. The wallet has gained a reputation for taking positions that go directly against crypto influencer James Wynn—often with profitable results. Back in May, Wynn went long on ETH and Bitcoin. Almost immediately, 0x2258 shorted both. When Wynn closed his positions, 0x2258 did the same and walked away with $1.36 million. The next day, as Wynn flipped bearish, 0x2258 went long and bagged another $2.54 million. The back-and-forth continued. By May 26, the whale had locked in $5.6 million in profits in just three days. Since then, the strategy has snowballed into more than $15 million in realized gains, most of it from flipping against Wynn’s positions. Related Reading: If You’re Wealthy, 1 Bitcoin Should Already Be In Your Wallet, Expert Says Big Bet Reflects Uncertainty In ETH’s Path While Bitcoin continues to break through key resistance zones, Ethereum seems stuck in a tougher fight. Traders like 0x2258 appear to believe that ETH lacks the strength right now to push past the $3,500 level. Still, shorting with this level of leverage is a double-edged sword. If ETH bounces sharply, traders like 0x2258 could get caught in a squeeze, forced to buy back in at a loss—driving the price up even faster. So far, though, the whale is winning again. Whether it ends in another multi-million-dollar gain or a hard reset depends on what ETH does next. For now, the market is waiting to see what happens next. Featured image from Meta, chart from TradingView

#bitcoin #btc price #bitcoin dominance #bitcoin price #btc #altcoins #bitcoin news #altcoin season #altseason #btcusd #btcusdt #btc news #tony severino #btc.d #us dollar index #merlijn the trader

Bitcoin Dominance (BTC.D) has hit a critical turning point after getting sharply rejected from a TSDT resistance level that previously marked the start of a massive altcoin season. As the market reacts to this technical signal, analysts are closely watching for signs that a new altcoin season could be underway—one that could potentially mirror the explosive shift seen in 2021.  Bitcoin Dominance Chart Signals Repeat Of 2021 Altcoin Season A new crypto analysis by market expert Tony Severino, posted on X social media on July 15, reveals that Bitcoin Dominance has once again faced a sharp rejection from the crucial TSDT resistance area near 65%. This level represents a technical ceiling that previously triggered a complete rotation of capital from BTC to alternative cryptocurrencies, fueling the famous altcoin season in early 2021.  Related Reading: Bitcoin Dominance Falls: 9 Factors To Watch For That Says The Altcoin Season Has Begun The analyst’s monthly chart shows Bitcoin Dominance steadily climbing from mid-2022, peaking at around 65% in July 2025 before being rejected. This behavior mirrors the price action observed in late 2020 to early 2021, when BTC.D also reached this zone, got rejected, and then plunged—triggering a full-blown altcoin rally.  Currently, Severino’s chart shows that Bitcoin Dominance sits at approximately 64.07%, just under the TDST resistance at 63.83%, with a notable candle forming after a strong uptrend. The analyst has indicated that if history repeats itself in this current cycle, it may result in a similar capital inflow into altcoins, possibly igniting the next altseason.  Furthermore, the chart outlines key technical thresholds, including the TDST resistance, a TDST risk around 57.11%, and TDST support down at 40.08%. A decline toward these lower levels would indicate a significant drop in BTC dominance and further reinforce a pro-altcoin environment.  Altcoin Supercycle Incoming Crypto analyst Merlijn The Trader has also shared insight on the possibility of an explosive altcoin season this bull cycle. The analyst stated on X that a historical pattern between the US Dollar Index (DXY) and Bitcoin Dominance appears to be repeating, signaling the beginning of a new altcoin supercycle.  Related Reading: Altcoin Season Index Spikes Above 30, But Bitcoin Dominance Remains High, What Next? According to his chart, three major DXY bull traps have been identified since 2016, each followed by a dramatic decline in BTC.D and a strong rally in the altcoin market. The first two DXY bull traps, which occurred around 2017 and 2020, both triggered significant breakdowns in BTC.D—plunging from over 90% to around 35% in 2018, and again in 2021. These breakdowns marked the start of powerful runs, now recognized by the analyst as altcoin supercycles.  The current market structure now suggests that the next leg lower could be imminent, with BTC.D beginning to trend downward again. If history repeats itself, this setup implies a weakening dollar, declining Bitcoin Dominance, and the potential for altcoins to outperform significantly in the coming months. Featured image from Pixabay, chart from Tradingview.com

#news #bitcoin #crypto regulations #crypto news

The United States government ostensibly holds 28,988 Bitcoin (BTC) units from the previously presumed reserves of around 200k coins. According to a report from the U.S. Marshals Service, the government has silently offloaded its Bitcoin stash without leaving an on-chain footprint for the public to consider.  The move has prompted huge criticism from the pro-Bitcoin …

#bitcoin #btc #glassnode #bitcoin news #btcusdt #bitcoin top #bitcoin momentum

The on-chain analytics firm Glassnode has pointed out how $136,000 could be the next price level of importance for Bitcoin, if current momentum continues. This Bitcoin Short-Term Holder Cost Basis Level Is Situated At $136,000 In a new thread on X, Glassnode has discussed what a few different on-chain indicators suggest regarding where Bitcoin is in the current cycle. The first metric shared by the analytics firm is the Short-Term Holder (STH) Cost Basis, which measures the average acquisition price of the investors who purchased their coins within the past 155 days. Related Reading: Bitcoin Falls Below $117,000 Amid $3.5 Billion Profit-Taking Frenzy Below is a chart showing the trend in this metric over the last couple of years. As displayed in the graph, the Bitcoin price broke above the STH Cost Basis earlier in the year and has since remained above the line, indicating the STHs as a whole have been in a state of net profit. In the same chart, the analytics firm has also marked a few other levels, each corresponding to a specific standard deviation (SD) from the STH Cost Basis. With the recent price surge to a new all-time high (ATH) above $123,000, BTC was able to breach the +1 SD level, which has historically corresponded to heated market conditions. After the pullback, though, the coin has returned below the mark, but still remains close to it. “If this momentum continues, the next key level is $136k (2 +std), a zone that has historically marked elevated profit-taking and local market peaks,” explains Glassnode. While Bitcoin is still not overheated from the perspective of the STH Cost Basis model, other indicators paint a different picture. The STH Supply In Profit, an indicator tracking the percentage of the cohort’s supply that’s sitting on some gain, has recently surged far above the 88% threshold that has separated high-risk euphoric phases. Another metric, measuring the percentage of STH volume that’s leading to profit realization, also similarly saw a jump significantly above the historical overheated cutoff of 62%. “Such spikes often occur multiple times in bull markets, but repeated signals at these levels typically precede local tops and warrant caution,” notes the analytics firm. During this spike of profit-taking, the ratio between the profit and loss being realized by the Bitcoin STHs spiked to a 7-day exponential moving average (EMA) value of 39.8. This is a value that’s, once again, extreme by historical standards. That said, spikes like this have generally occurred multiple times over the course of a cycle, before a top is finally attained. Related Reading: Bitcoin Returns Under $117,000: Is Social Media FOMO To Blame? “Historically, cycle tops follow with a lag, leaving room for further upside,” says Glassnode. “However, risk is elevated and the market becomes increasingly sensitive to external shocks. The current pullback aligns with this pattern.” BTC Price At the time of writing, Bitcoin is floating around $118,800, up more than 8% in the last seven days. Featured image from Dall-E, Glassnode.com, chart from TradingView.com