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BitMEX has updated its index weights for Q4 2024, effective from September 27, 2024. The new weights are published under the 'NEXT' index family. (Read More)
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark. Following the recent developments, the flagship cryptocurrencys performance has seen an 8% weekly surge, driving BTC to one of its best September performances since its creation. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Bitcoin Registers Sixth Green Daily Candle During the first week of the month, Bitcoin saw its price struggle to keep above the $55,000 mark, plummeting to the $52,000 support zone and raising investors alarms. The rest of the sector followed BTCs lead, dropping 12% to a market capitalization of $1.81 trillion earlier this month. Since then, the market has seen a significant boost, mostly fueled by the US Federal Reserves (Fed) rate cut. Following the Feds announcement, the sector recovered 5%, continuing its ascending trajectory throughout the weekend. Due to the positive market sentiment, crypto investment products ended the week with $321 million in inflows, the second weekly positive net flows in a row. The inflows were led by Bitcoin-based products, which registered $284 million last week, according to the CoinShares report. BTC, propelled also by Kamala Harris recent acknowledgment of the crypto industry, recovered 20% from the monthly lows of September 6. The rebound pushed the cryptocurrencys price toward the $64,000 resistance level, which was last held a month ago. After failing to reclaim the key resistance level, Bitcoins price has been hovering between the $63,000-$63,900 range throughout Monday morning, registering six green daily candles since September 17. Will BTC See Four Green Months In A Row? BTCs recent price action has translated into green numbers in the month-to-date (MTD) timeframe, making September a green month for the cryptocurrency. Coinglass data reveals that the flagship crypto displays a 7.94% return MTD. This performance was noted by some market watchers, who suggest that Bitcoin is on its way to registering its best September so far. In an X post, Crypto Jelle highlighted that BTC is currently on track for the strongest September performance in its history after its current MTD return surpassed that of September 2016. To the analyst, the flagship cryptocurrency is preparing for a promising performance next quarter. Jelle also pointed out that BTC has only closed September with green numbers three times. However, the times this has happened, the cryptocurrencys monthly returns have closed in the green for four months straight. This suggests that Bitcoin may be on the verge of a massive bull run for Q4. Close this month in the green, and the odds are high October, November and December will close green as well. He pointed out that this week will be decision time for the flagship cryptocurrency, as a higher high is within an arms reach. A push above the $65,000 resistance level would flip the narrative and see BTC moving to levels not seen since early August. Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why The cryptocurrencys chart displays a massive descending broadening wedge, which has the potential to hit $90,000 after a breakout. Ultimately, the analyst considers that Bitcoin wont trade within this pattern for much longer. As of this writing, the flagship trades at $63,700, a 1.7% and 10% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com
BitMEX will update its index weights on 27 September 2024. Hypothetical values with new weights will be available under the 'NEXT' index family. (Read More)
According to data from CoinMarketCap, Bitcoin has experienced a turbulent end to August, losing 7.75% of its market value in the final week. This price decline underscores the overall negative performance of the crypto market leader in the last month, with a recorded monthly price decline of 10.64%. Interestingly, amidst this downtrend, the assets historical price data indicates that the bears may retain market control in the coming weeks. Related Reading: How Will The US Upcoming Fed Rate Cut Impact Bitcoin? QCP Analysts Weigh In September Popular For Negative Returns, Analyst Says In an X post on Friday, renowned crypto analyst Ali Martinez has nudged Bitcoin investors to brace up for what could be a tough period in September. Based on historical price data, Martinez notes that Bitcoin commonly records a cumulative negative performance in September as seen in eight of the last 11 years. Over this period, Bitcoin has experienced an average and median price loss of 4.78% and 5.58% in September, respectively. Therefore, investors could expect the premier cryptocurrency to trade as low as $55,618 to 56,105 in the next four weeks. Interestingly, this period of potential price loss could serve as an opportunity for massive BTC accumulation. According to Bitcoin monthly returns, the crypto market leader has previously produced significant price gains in Q4, with recording a cumulative positive performance in October of 9 of the last 11 years. Meanwhile, the month of November may be an investor favorite having recorded net gains of 42.95% (2020) and 53.48% (2017) in the past two bull cycles. Generally, November shows much potential for a significant price increase, with an average price gain of 46.81% since 2013. However, investors may want to exercise caution in December. While Bitcoin has previously recorded gains as high as 46.92% (2020) in December, there have also been significant losses to the tune of 34.81% (2013). Notably, in this last month of the year, the premier cryptocurrency has shown a dual performance to nearly the same extent, recording an average price gain of 5.45% and a median price loss of 3.59%. Related Reading: Analysts Say Now Is the Time to Re-Accumulate BitcoinHeres Why Bitcoin Price Outlook At the time of writing, Bitcoin trades at $59,218 with a 0.84% decline in the last day. Meanwhile, the assets trading daily volume has recorded a 3.05% gain and is currently valued at $33.38 billion According to BTCs daily chart, the crypto market leader is undergoing a price consolidation, a breakout from which could result in a rise to the $65,400 price zone. However, data from the relative strength index indicates that Bitcoin is far from its oversold zone and could be set for further losses. In such a case, investors could prepare for a potential fall to around $53,800. BTC trading at $59,230 on daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from The Cryptonomist, chart from Tradingview
Starknet plans to introduce staking through a new protocol launching on the testnet before a mainnet release in Q4.
Transaction volume on the exchange fell 12% in 2022's fourth quarter, but the firm still beat forecast earnings despite a 57% year-on-year revenue drop.
Crypto exchange giant Coinbase on 25th February 2022 released its Q4 revenue report, besting investors’ estimates. The report caused quite a stir when it revealed that it had exceeded Wall Street’s expectations for fourth-quarter revenue by nearly $500 million. It also raised a few eyebrows in the crypto community. On the same day of the […]
In total, Block generated $4.42 billion worth of gross profit in 2021 marking a total YoY growth of 62%, however, net profit totaled just $77 million.
But will it hold? Covered: Bitcoin close to flipping crucial fib level on the 2-week Historical precedence for this level indicates the beginning of parabolic BTC run The 2-week candle needs to close above this fib level to validate the pattern Bitcoin Close To Flipping Crucial Fib Level The recent Alpha from TA expert Tech […]
The post Key Data Signals Potential Start of Bitcoin’s Final Parabolic Leg appeared first on CryptosRus.
Data from earlier this month has indicated that Bitcoin is “mathematically programmed” to head to $200k or more. Popular Twitter TA Bitcoiner TechDev has indicated that the RSI data points to the bullishness. It appears that we are on the right track. #Bitcoin Monthly RSI Each cycle has had 2 peaks. 2021 now moving toward […]
The post 200k Bitcoin Programmed? RSI Says Yes appeared first on CryptosRus.
Algorand, the smart contract layer 1 launched in 2019, marked a new era in their development today with the successful closing of their first governance period window. Potential ‘Governors’ had two weeks to secure their commitment in the form of Algo, to earn a yield and vote on protocol measures. The results are now in. […]
The post Algorand’s First Governance Period Sees Nearly 2 Billion ALGO Locked appeared first on CryptosRus.
Takeaways~ SEC has approved ETF explicitly curated with companies holding a significant amount of Bitcoin The firms hold a majority of their net assets in Bitcoin or Bitcoin-related revenue The closest thing to a Bitcoin ETF you can get On Thursday, the SEC approved an ETF that appears to take us one step closer to […]
The post First Ever ‘Bitcoin on Balance Sheet’ ETF Approved by SEC appeared first on CryptosRus.
Takeaways~ Strong support levels and consolidation will allow Bitcoin to break out Due to this consolidation, Bitcoin will reach new all-time highs Miners are accumulating, breaking a month-long sell-off Whale buys $1.6 billion worth of BTC this morning Anti-FUD news is conspicuously aggregating The Technicals Everything appears to be going as planned for the bulls, […]
The post Data Points to Record Bitcoin Bull Run Coming Soon appeared first on CryptosRus.
Tether Holdings Limited reported a Q4 2023 profit of $2.85 billion, boosted by US Treasuries, Gold, and Bitcoin reserves, and a net profit of $6.2 billion, showcasing strong financial health. (Read More)
Bitcoin held on exchanges fell to a new low while spot Bitcoin ETF inflows resumed pace. Is Uptober back on?
Nearly half of all venture capital (VC) funding in crypto during Q4 2024 went to U.S.-based startups. Galaxy Digitals Crypto and Blockchain Venture Capital report, filed on January 15, 2025, revealed this trend. U.S. VC Firms Lead in Q4 The report showed 46% of global VC funds were directed to
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