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Bitcoin News
Newsbtc
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Analytics Firm Reveals Why Dogecoin & Apecoin Hit Tops
- The on-chain analytics firm Santiment has revealed the potential reason behind the corrections that Dogecoin and Apecoin have faced recently.
- Santiment's indicator, Positive Sentiment vs. Negative Sentiment Ratio, showed a spike in positive comments on social media for Dogecoin and other memecoins.
- These spikes coincided with tops in DOGE and APE prices, suggesting excessive hype and the Fear Of Missing Out (FOMO) as the reason for the corrections.
- The Positive Sentiment vs. Negative Sentiment Ratio will be important to watch as cooldowns in its value could restart bullish momentum for these coins.
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19 Likes
Bitcoinist
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149
Image Credit: Bitcoinist
Bitcoin’s Breakout From Broadening Wedge Pattern Setting The Stage For Potential Rally?
- Bitcoin displays resilience, breaking through key resistance levels and bullish technical patterns.
- Breakout from the Broadening Wedge pattern indicates potential for an upward rally.
- Analyst predicts a significant upswing, with a potential spike to $350,000.
- BTC falls below 3-month high, signaling a likelihood of further decline.
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8 Likes
Cryptonews
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153
Image Credit: Cryptonews
On the Radar – Coins to Watch: JUP and MEW
- Bitcoin is currently up 6% for the month of October, trading around $67,000 USD.
- US Bitcoin Exchange Traded Funds (ETFs) experienced $2.1 billion USD in net buying last week.
- Two out of three days this week saw positive net buying activity, totaling $407.6 million USD.
- Jupiter (JUP) and MEW are two coins to watch, with potential bullish scenarios outlined for both.
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9 Likes
Cryptonews
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250
Image Credit: Cryptonews
SEC Filings Show Spot Bitcoin ETFs Held by Approximately 20% Institutional Investors
- Institutional investors hold a fifth of Spot Bitcoin exchange-traded funds (ETFs).
- 193,000 BTC, valued at around US$13 billion, is held by institutional investors.
- BlackRock's IBIT holds the most institutional Bitcoin, but ARK 21Shares Bitcoin ETF has the highest institutional ownership.
- 1,179 institutions, including Goldman Sachs and Jane Street, now own Bitcoin via ETFs.
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15 Likes
Bitcoinist
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74
Image Credit: Bitcoinist
Web3 GameFi Sector Expected To Hit $301.5 Billion By 2030 – Report
- The Game Finance (GameFi) sector is expected to reach $301.5 billion by 2030, driven by decentralized economic systems, AAA games in Web3, and the growth of role-playing games.
- Blockchain analytics firm Nansen predicts a 68% compound annual growth rate (CAGR) for the Web3 GameFi sector from 2024 to 2030.
- True asset ownership, in-game economies, and growing community engagement contribute to the sector's projected growth.
- Community engagement and the structure of in-game economies are crucial factors in the long-term success of Web3 gaming.
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4 Likes
Cryptonews
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382
Image Credit: Cryptonews
Bitcoin Price Falls as Most Holders Profit, Indicating Potential Market Peak
- Bitcoin's recent rally above US$69,000 has placed over 94% of holders in profit.
- Most Bitcoin was purchased around the US$55,000 level, encouraging a 'Buy-the-Dip' mentality.
- A price drop tends to follow when a large percentage of Bitcoin holders are in profit.
- Historically, previous corrections in September 2023 and March 2024 have seen price drops after high profitability.
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23 Likes
Cryptonews
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136
Image Credit: Cryptonews
Tesla Reports Strong Q3 Profits—But Did They Offload Bitcoin?
- Tesla did not sell any of its Bitcoin holdings over the last quarter, despite the sudden wallet movements.
- The company split its Bitcoin assets across seven other wallets as a rotation into newer or more secure storage solutions.
- Tesla still holds 11,509 BTC, worth approximately $765 million.
- Tesla enjoyed a strong Q3 with a gross margin improvement and quarterly revenue of $25.1 billion.
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8 Likes
Cryptonews
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158
Image Credit: Cryptonews
Peter Schiff Calls MicroStrategy ‘Most Overvalued Stock’, Warns About Market Turmoil
- Peter Schiff, a well-known economist and gold maximalist, has called MicroStrategy (MSTR) the 'most overvalued stock'.
- MicroStrategy's assets have grown significantly, with the company's BTC holdings valued at over $14 billion.
- Schiff believes that MicroStrategy's share price is inflated due to its Bitcoin holdings.
- Crypto Twitter community defended MicroStrategy and accused Schiff of attempting to manipulate the market.
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9 Likes
Bitcoinist
3w
206
Image Credit: Bitcoinist
Crypto Analyst Who Predicted Bitcoin Price Crash From $69,000 Says Dogecoin Is Headed For $0.68
- Crypto analyst predicts Dogecoin is headed for $0.68.
- Technical analysis suggests Dogecoin is looking bullish and could challenge its all-time high.
- Analyst Dave The Wave points out a breakout from an ascending triangle pattern.
- There are significant resistance levels at $0.22 and $0.32 that could slow down Dogecoin's upward momentum.
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12 Likes
Newsbtc
3w
298
Image Credit: Newsbtc
Bitcoin Options Traders See $80,000 BTC By November End, US Election Outcome Irrelevant
- Bitcoin options traders are betting on BTC reaching $80,000 by the end of November, regardless of the US election outcome.
- Options activity surrounding the elections shows a topside-heavy bias, indicating optimism for Bitcoin's performance.
- Traders believe that a Trump win could benefit the digital asset ecosystem, while a Harris victory may continue a perceived hostile stance towards cryptocurrencies.
- Factors such as interest rate cuts and cooling inflation contribute to increased optimism for Bitcoin's new all-time high by year-end.
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17 Likes
Crypto-News-Flash
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237
Image Credit: Crypto-News-Flash
BRICS Leaders Eye Bitcoin to Counter Western Sanctions at Kazan Summit
- BRICS leaders at the Kazan Summit are pushing for Bitcoin as a financial tool to bypass Western sanctions.
- BRICS nations aim to reduce reliance on Western financial systems and boost technological self-sufficiency.
- Lawmakers advocate for Russian miners to sell Bitcoin to international buyers, offering an alternative for imports amid sanctions.
- BRICS seeks to bypass dollar dependency through crypto solutions and strategic partnerships.
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14 Likes
Bitcoinist
3w
342
Image Credit: Bitcoinist
Bitcoin Avg Profitability Index Hits 200% – Active Profit-Taking On The Horizon?
- Bitcoin's Average Profitability Index is at 202%, indicating strong market sentiment and potential for further price appreciation.
- If the Index surpasses 300%, it may trigger profit-taking and selling pressure, potentially leading to a correction event.
- The current market sentiment suggests that while selling pressure may increase, a drastic downturn is unlikely due to relatively low average profitability.
- Bitcoin's ability to hold above the $66,000 support level will determine its next price movement, with potential for a breakout above $70,000 if successful.
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20 Likes
Newsbtc
3w
206
Image Credit: Newsbtc
Bitcoin Price Shows Bearish Engulfment After Breakout, Here’s How Far The Price Could Crash
- Bitcoin price shows bearish engulfment after failed breakout and resistance at $69,000.
- The bearish engulfment pattern indicates the sellers regaining control and a potential deeper correction.
- Bitcoin's recent rally seems to be a false breakout from the descending resistance trendline.
- Potential decline targets for Bitcoin include $65,000, $61,000, $58,000, and possibly $57,000.
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12 Likes
Bitcoinsensus
3w
118
Image Credit: Bitcoinsensus
Brad Garlinghouse: XRP ETF Approval ‘Inevitable’
- Ripple CEO Brad Garlinghouse is optimistic about the approval of an XRP ETF, suggesting it’s only a matter of time.
- An XRP ETF could help reduce volatility and boost the credibility of XRP, potentially increasing its value.
- XRP’s current performance lags behind other major cryptocurrencies, partly due to ongoing legal battles with the SEC.
- The approval of an XRP ETF could help contain volatility and provide a boost to the credibility and stability of XRP.
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7 Likes
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