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Bitcoin Miners Sold Over 3,000 BTC In The Past 48 Hours – Consolidation Phase Ahead?
Bitcoin has maintained its bullish momentum over the weekend, solidifying its position above the $90,000 mark. This milestone showcases Bitcoin’s resilience as it continues to captivate investors with its upward trajectory. The market has been buzzing with optimism as Bitcoin inches closer to new highs. However, recent on-chain data suggests that a potential pullback could be on the horizon. Key data from CryptoQuant reveals that Bitcoin miners have sold over 3,000 BTC in the past 48 hours. This wave of miner profit-taking often signals a cooling phase, as it introduces additional supply into the market. While the selling activity is...
ARBITRUM PRICE ANALYSIS & PREDICTION (August 4) – ARB Pauses Selling At $0.6 After A Steady Weekly Drop, Can It Hold?
Arbitrum’s price has reached a critical trading level again in the latest dip. But it appeared to have found a temporal support and now trades calmly. A major move at this support will determine the next direction. After a three-week break from a low of $0.56 in July, Arbitrum retraced briefly above $0.8 but lost buzz and later initiated a fresh drop in continuation of the bearish trend starting from $2.4 in the first month. It advanced bearish this month and the price touched $0.6 yesterday with a doji candle close, indicating an indecisiveness in the market. This led to...
Ether Rises 8% Amid Slumping Bitcoin Dominance
Fed Chair Jerome Powell said bitcoin is competing against gold, not the U.S. dollar, in an appearance on Wednesday. Dec 4, 2024, 8:25 p.m. UTC Having long lagged behind bitcoin (BTC) in terms of price action, ether (ETH) saw some solid gains on Wednesday, rising 8% to over $3,880 in the last 24 hours. The second largest cryptocurrency’s price benefitted from $800 million worth of shorts closing their positions, according to Tom Dunleavy, a partner at venture studio Master Global. But it’s also profiting from a capital influx reminiscent of the 2021 bull market, CoinDesk Senior Analyst James Van Straten...
