Benjamin Cowen, a well-known analyst in the cryptocurrency market, assessed Bitcoin’s ($BTC) current state and his expectations for the remainder of the year in his latest analysis. Cowen noted that Bitcoin managed to close last week above the 200-week moving average (200EMA), stating that this is a positive signal showing that the bulls have not
Markus Thielen, founder of 10x Research, stated that the main reason Bitcoin recently fell below the $60,000 level was not concerns about potential Bitcoin sales by Strategy, but rather that rising inflation in the US was leading institutional investors to exit spot Bitcoin ETFs. According to Thielen, the market is misjudging the factors behind the
Bitcoin continues to trade under heavy pressure after losing several key support levels in quick succession. The recent breakdown has pushed the asset into a significant demand region around $60K, while on-chain data suggests older coins are increasingly moving to exchanges, adding another layer of caution for market participants. Bitcoin Price Analysis: The Daily Chart
Asset manager Strive, a firm known for its Bitcoin acquisition strategy, has added 32 $BTC to its corporate treasury. According to a filing with the U.S. Securities and Exchange Commission (SEC), the purchases were executed between June 2 and June 7 at an average price of $63,911 per Bitcoin, for a total outlay of approximately
In brief Bitcoin bounced 7.5% from Friday’s $59,353 low to highs of $63,800 on Monday. The weekend recovery liquidated $540 million in short positions on Sunday, the highest level since mid-April. Experts remain cautious about the rebound, saying it does not confirm a trend reversal yet. A portion of last week’s selloff has come undone
Bitcoin treasury firm Strategy will begin paying semi-monthly dividends to STRC shareholders following approval of the proposal by stockholders. This comes as the preferred security trades below its par value of $100, although market expert Scott Melker has said that now is a good time to buy the stock.
Bitcoin’s recent price decline is not the result of a single trigger but a convergence of pressures, according to a new report from digital asset exchange Bitfinex. The analysis identifies large-scale outflows from spot Bitcoin exchange-traded funds (ETFs), a deleveraging event in the derivatives market, and renewed macroeconomic concerns over prolonged high interest rates as
Bitcoin has slipped into what analysts call a “cheap zone,” with its market value to realized value (MVRV) ratio falling to 1.1, a 27-month low. A reading of this nature has historically preceded major market bottoms. Key Takeaways: Bitcoin’s MVRV ratio fell to 1.1, its lowest since March 2023, signaling deep undervaluation. Readings near this
Bitcoin climbed back above $63,000 Monday morning as institutional buyers stepped in and U.S. lawmakers advanced key crypto legislation, pushing the total digital asset market cap to $2.19 trillion. Key Takeaways: Strategy purchased 1,550 $BTC for $101M Monday as bitcoin recovered above $63,000 from June lows. Bitmine acquired 126,971 $ETH last week as total crypto
Bitcoin traders are preparing for a series of U.S. inflation reports this week that could determine whether the crypto asset can hold its recent recovery from the $60,000 area or face another wave of selling pressure. According to Trading Economics forecasts, the Consumer Price Index report due on June 10 is expected to show headline