|All Time High:|
|Market Cap: |
|The price of #BTC today is $27,175 USD.|
The lowest BTC price for this period was $0, the highest was $27,175, and the current live price for one BTC coin is $27,175.15887.
The all-time high BTC coin price was $68,781.
Use our custom price calculator to see the hypothetical price of BTC with market cap of XRP or other crypto coins.
|The code for Bitcoin is #BTC, and the symbol for #BTC is ₿. |
Bitcoin is 14.4 years old.
|The current market capitalization for Bitcoin is $526,810,482,702.|
Bitcoin is ranked #1, by market cap (and other factors).
|The trading volume is huge today for #BTC.|
Today's 24-hour trading volume across all exchanges for Bitcoin is $6,648,704,937.
|The circulating supply of BTC is 19,385,737 coins, which is 92% of the maximum coin supply.|
A highlight of Bitcoin is it's limited supply of coins, as this supports higher prices due to supply and demand in the market.
|BTC is well integrated with very many pairings with other cryptocurrencies and is listed on at least 200 crypto exchanges.|
View #BTC trading pairs and crypto exchanges that currently support #BTC purchase.
More Bitcoin (#BTC) News
|Bitcoin Pizza Day Goes Stale as Pizza-Styled Memecoin Issuers Pull the R...
Floridian programmer and an early Bitcoin miner named Laszlo Hanyecz's purchase of two pizzas with Bitcoin in 2010 has been etched into history, marking a pivotal moment for cryptocurrency.
Since then, Bitcoin Pizza Day is celebrated every year on May 22nd. However, scammers are lurking even on that day.
In light of this historic event, several malicious entities have sprung up in action to dupe unsuspecting investors. Considering the current risk appetite of investors for memecoins, fraudsters have resorted to creating obscure pizza-related memecoins.
As per Dextools' data, at least 14 such tokens were issued just a few days before the event, most of which turned out to be scams.
BTCPizza, BPizza, PizzaDay, and EthPizza were some of the tokens that were found to have been created three days before Bitcoin Pizza Day and reportedly accumulated over $300,000 in market cap.
The BPizza operator abruptly changed its sell tax to 100% rendering it unfeasible for investors to sell it. The team behind EthPizza, on the other hand, turned off transfers and sales for the token shortly after raking in a market cap of $38,000.
Scammers have continued to exploit the memecoin hysteria, with PEPE being the latest sensation that has piqued the interest of many degens.
Last week, blockchain security platform PeckShield revealed identifying a series of rug pulls involving the creation of nearly 24 scam memecoins.
The post Bitcoin Pizza Day Goes Stale as Pizza-Styled Memecoin Issuers Pull the R...
|Bitcoin Taps $27K, Solana Soars 5% Daily (Weekend Watch)
Unlike the previous few weekends, this one is turning out to be more positive for bitcoin, which spiked to over $27,000 earlier today.
The altcoins also trade in the green today. SOL is among the most notable gainers, with a 5% surge that helped it reclaim $20.
BTC Above $27K
Last week didn't go all that well for the primary cryptocurrency, especially after the latest rejection at $27,500 recorded on Tuesday. The bears took complete control of the market in the following few days and pushed it south to a two-week low at $25,900 by Thursday.
The landscape started to change as the working week came to an end, and BTC quickly reclaimed $26,000. It even spiked to almost $27,000 by Saturday but was stopped there at first.
However, the bulls propelled a more impressive price increase on Sunday morning that drove the cryptocurrency to a multi-day high of $27,300. Despite retracing slightly since then, bitcoin is still almost 2% up on the day.
As such, its market capitalization has neared $530 billion, and its dominance over the altcoins has increased a bit to 46.4%.
BTCUSD. Source: TradingView
SOL Jumps 5%
The alternative coins have also headed higher during the weekend, which is in contrast with what happened in the past few ones.
Ethereum slipped below $1,800 during the week but has managed to reclaim and retrain that level. Another minor increase on a daily scale has pushed the second-largest crypto to $1,850. Binance Coin, Polygon, Dogecoin, Tron, Polkadot, Litecoin, and Avalanc...
|2 Possible Secnarios for Bitcoin in the Next Few Days (BTC Price Analysi...
Over the past few weeks, Bitcoin's price has been consolidating within a narrow range after breaking below the 50-day moving average. The market is currently situated between two notable levels, leaving room for several potential scenarios to unfold.
Technical AnalysisBy: EdrisThe Daily Chart:
The price on the daily timeframe has yet to display a notable upward or downward movement. If a rally takes place in the upcoming weeks, the first resistance level to watch is the 50-day moving average positioned around $28K, followed by the crucial $30K level.
On the other hand, for holders, the key support areas to rely on are the $25K level and the 200-day moving average of around $23K. The RSI indicator remains below the 50% threshold without much movement, indicating the current bearish momentum and increasing the likelihood of a downward move in the short term.
The 4-Hour Chart:
On the 4-hour chart, the price remains within a significant descending channel. Although there was a recent upward push prompted by the minor support level at $26K, there is still a strong possibility of a decline towards the lower boundary of the channel and the support area at $25K.
Conversely, for a rally to occur, the market must first break through the resistance level at $27,500. If this happens, the chances of a breakout above the channel and a subsequent retest of the resistance area at $30K would increase.
On-chain AnalysisBy: Edris
Bitcoin Miners Reserve
|Bitcoin, Ethereum Technical Analysis: BTC Nears $27,000 as Market Reacts...
Bitcoin moved closer to the $27,000 level on Saturday, as markets continued to react to the latest Personal Consumption data from the United States. The key inflation index rose to 4.4% in April, higher than expectations of a drop to 3.9%. Ethereum also edged higher.Bitcoin
Bitcoin (BTC) rallied towards $27,000 to start the weekend, as prices reacted to the latest Personal Consumption data in the United States.
BTC/USD climbed to a peak of $26,916.67 earlier in today's session, which came a day after trading at a low of $26,370.55.
The move sees bitcoin climb for a third straight session, moving past a floor at $26,3000 in the process.
From the chart, the latest surge in price came as the 14-day relative strength index (RSI) bounced from a support point at 39.00.
At the time of writing this, the index is now tracking at 43.02, with the next visible point of resistance at 45.00.
Should this point be broken, then there is a strong possibility that BTC will move back over the $27,000 level.
In addition to BTC, ethereum (ETH) also moved higher on Saturday, remaining above the $1,800 level.
Following a low of $1,810.37 on Friday, ETH/USD managed to hit an intraday high of $1,837.87 earlier in the day.
This surge led to the world's second-largest cryptocurrency breaking out of its recent ceiling of $1,830.
However, as the day has progressed, earlier gains have somewhat fallen, with ETH now trading at $1,828.18.
It appears that market uncertainty has also risen, as the R...
|Render Token (RNDR) Shoots Up 15% Weekly, Bitcoin (BTC) Eyes $27K (Weeke...
After charting the latest multi-weekly low at under $26,000, bitcoin has performed better and even neared $27,000 earlier today.
Most alternative coins have also charted minor gains on a daily scale. Render Token emerges as this week's best performer from the top 100.
BTC to Challenge $27K?
Bitcoin tried its hand at taking down the resistance level at $27,500 a few times this past week but to no avail. The latest rejection came on Tuesday, and it turned out to be a rather violent one.
It first pushed BTC south to just under $27,000 before the bears took complete control of the market and drove the asset further south to a two-week low at $25,900. The bulls finally decided to act at this point, and they prevented any further declines.
Just the opposite, bitcoin started regaining some traction and jumped above $26,000 almost immediately. The past 24 hours brought another minor leg-up that drove the asset to over $26,900. However, the cryptocurrency has been unable to challenge the $27,000 resistance line as of now and sits a few hundred dollars below it.
Its market capitalization remains under $520 billion, while its dominance over the altcoins stands still at 46.2%.
BTCUSD. Source: TradingView
RNDR, HT Up Double Digits Weekly
Most altcoins have produced minor gains, similar to bitcoin, in the past 24 hours. Ethereum dipped below $1,800 a few days ago but managed to reclaim that level yesterday. Another slight increase since then has pushed the second-largest crypto to $1,830 a...
|Bitcoin Mining Difficulty Poised to Break 50 Trillion Barrier, May 31 Pr...
Despite an upswing in mining difficulty on May 18, current data projects Bitcoin's mining difficulty to see a further escalation on May 31, 2023-potentially jumping between 1.1% and 2.51%. Bitcoin's Difficulty Nears 50 Trillion Milestone
Bitcoin's mining difficulty, already at an unprecedented level of 49.55 trillion, seems poised to breach the 50 trillion threshold within five days. Although the process of mining bitcoin (BTC) has become increasingly challenging, the hashrate has maintained an average rate of 364 exahash per second (EH/s) during the last 2,016 blocks. As of May 26, 2023, the hashrate hovers around 367.29 EH/s based on a 24-hour analysis.
On May 2, 2023-a noteworthy event in Bitcoin's lifetime-its hashrate reached a historic high at block height 787,895 with an impressive figure of 491.15 EH/s. The network's hashrate spiked again in mid-May to reach 453 EH/s and today, it achieved a peak of 427 EH/s. Block intervals have hastened, and the most recent block recorded at block height 791,491 had a duration of approximately nine minutes and 53 seconds.
The acceleration in block intervals or times outpacing the ten-minute average suggests that another rise in difficulty looms next week. Already, projections reveal a potential increase on May 31 that could range from 1.1% to 2.51%. Should this transpire, Bitcoin's mining difficulty will land in the vicinity of 50.79 trillion-a milestone for surpassing the 50 trillion mark for the first time in Bitcoin's lifespan.
|Bitcoin Flatlines Below $27K, ChatGPT CEO Furthers Crypto Efforts With $...
There are exciting weeks in the cryptocurrency market, and then there are weeks like the last one. It felt like the last seven days were a constant chop for Bitcoin, bouncing between $26K and $27K with absolutely no particular direction.
The market is trading more or less where it was last week, and it currently sits at $1.17 billion per data from CoinGecko. This comes on the back of minor movements from major coins such as Ethereum, Binance Coin, XRP, Cardano, and others. In fact, Bitcoin's dominance is also almost the same as it was last week, showing that the market has remained in equilibrium - more or less.
This isn't to say that interesting things didn't happen elsewhere. The CEO of OpenAI (ChatGPT developers) - Sam Altman - managed to successfully close a series C at $115 million for his crypto-focused project called Worldcoin.
That's right, it seems high-resolution retina scans are coming.
But that's not all. Do Kwon - the infamous founder of the failed Terra ecosystem - was denied bail? Interestingly, this came following initial reports that the government of Montenegro is prepared to release him on bail worth over $400K. Later, the bail was denied. This means that he will continue staying at the local jail.
We've also had a few interesting conversations with ChatGPT that you might be fond of going through. For instance, we asked it what will happen to Bitcoin's price during and after the upcoming halving in 2024, and the answer was somewhat interesting.
All in all, ...
|Bitcoin Startup Lab Launches Program Supercharging Founders Building on ...
[PRESS RELEASE - San Francisco, United States, May 26th, 2023]
Bitcoin Startup Lab, an industry-leading part-time startup training program and community for founders, is enabling the advent of the sustainable Web3 Bitcoin economy with its comprehensive mentorship-guided startup program beginning on June 24th, 2023. Bitcoin Startup Lab enables talented founders to become the champions they are meant to be by training founders with the necessary tools, skills, and knowledge they need to transform their ideas into investment-ready Web3 Bitcoin startups.
Below are testimonials from previous founders who graduated from the Bitcoin Startup Lab:
Robin Obermaier, a first-time startup founder shares his firsthand experience, 'The Bitcoin Startup Lab has played a pivotal role in our development. In just eight months, we transitioned from an idea fueled by passion, to a well-funded and rapidly growing business, largely thanks to the valuable guidance from Albert and his team. Their assistance in finding our current CTO, Peter Giammanco, (a computer science graduate from the University of Penn, Elon Musk’s alma mater) through the startup program has notably strengthened our team. We greatly appreciate the Bitcoin Startup Lab for their invaluable support... Without the Bitcoin Startup Lab, I wouldn't be where I am now!'
Anatoly Kozlov, a former graduate of the Bitcoin Startup Lab, raved about the invaluable experience and support he received during the program. 'As a founder with tw...
|BTC Stable Above $26K as XRP, LTC, ARB Jump 3% (Market Watch)
After dipping to a 13-day low yesterday, bitcoin reacted well and regained almost $600 in the following hours.
Most altcoins are also slightly in the green on a daily scale, including ETH, MATIC, XRP, and LTC. LDO, on the other hand, has dropped below $2.
BTC Remains Above $26K
The primary cryptocurrency stood in a tight range, as confirmed by Glassnode recently, that had it trading mostly around $27,000. It tried its hand to break out of it a few times but was stopped at $27,500.
The latest rejection came on Wednesday and brought the asset south hard. Firstly, BTC dropped under $27,000, but the bears took it a step further yesterday. This culminated in a drop to $25,900, which became bitcoin's lowest price position in almost two weeks.
The bulls finally reminded of their presence at this point and started helping bitcoin recover some of its lost value. At first, they pushed it to over $26,000 and later propelled another minor leg up that resulted in BTC jumping to its current value of $26,500.
The cryptocurrency is up by 1% in a day, and its market cap has increased above $510 billion. Its dominance over the alts sits stagnant, though, at 46.2%.
BTCUSD. Source: TradingView
LTC, XRP, ARB Up 3-4%
The altcoins also suffered yesterday, but most have produced minor gains now. ETH went below $1,800 for the first time in a few weeks, but a 2% increase since then has pushed it above that level as of now.
Cardano, Dogecoin, Solana, and Shiba Inu are also slightly in the green. Ripple...
|Dip Buying Sentiment Slides as Bitcoin Drops to Long-Term Support
On May 26, on-chain analytics provider Santiment observed that Bitcoin traders often buy short-term, small crypto price dips but have been scared to buy the longer-term bigger ones.
It added that mentions of buying the dip are dormant at the moment, suggesting very weak market sentiment.
“Historically, this kind of #FUD has been good to capitalize on,” it said.
Furthermore, Bitcoin prices have retreated almost 15% since its rally to just under $31,000 in mid-April. The lack of volume at the moment also suggests that this dip isn’t low enough yet to entice more buying pressure.
Bitcoin Drops to Support
Santiment also reported that there has been an increase in selling at a loss among crypto holders. It used the MVRV (market-value-to-realized-value) metric, which indicates the vast majority of crypto assets are flashing under-bought signals across the sector.
“With markets seeming dull to traders, we're continuing to see restless addresses emptying their wallets and selling at a loss.”
Glassnode noted that using the previous bull market peak as an anchor, Bitcoin price has fallen to the golden Fibonacci ratio of -61.8%. This is at $26,200, where prices had fallen to a few hours ago.
Since then, BTC has nudged up slightly to just below $26,500 at the time of writing but remains bearish in the short term.
Following weeks of consolidation and slow depreciation, the Bitcoin Fear and Greed Index has remained at neutral status. It is currently showing a ...
|Stably Launches #USD as the First BRC20 Stablecoin on the Bitcoin Networ...
[PRESS RELEASE - Renton, United States, May 25th, 2023]
Stably, a leading Stablecoin-as-a-Service (SCaaS) and fiat on/off-ramp infrastructure provider for Web3 projects, is aiming to revolutionize the nascent Bitcoin ordinals market by launching its US Dollar (USD)-backed stablecoin, Stably USD, as a natively-issued BRC20 token under the symbol #USD. This groundbreaking development marks a critical milestone in the exponentially growing Bitcoin ordinals ecosystem that is now reaching half a billion dollars in total market capitalization in less than six months.
#USD is a BRC20 standard stablecoin created via the Bitcoin ordinals protocol which was introduced in January 2023 after the recent Taproot upgrade. BRC20 tokens use a technique called ordinal inscriptions to attach data to individual 'satoshis,' the smallest unit of a Bitcoin. These satoshis can then represent anything from digital art ownership to “meme coins” and even stablecoins.
According to Stably, every #USD token is backed 1-to-1 with USD in a collateral account managed by a US-regulated custodian for the benefit of KYC/AML-verified token holders. Monthly reports for the account are also conducted by a third-party stablecoin attestor to ensure #USD tokens are always fully collateralized with USD.
'When I met Domo, the creator of the BRC20 standard, at the Bitcoin 2023 conference in Miami, I told him about our upcoming plans for #USD,' said Kory Hoang, Stably’s CEO and Co-Founder. “He tho...
|South Korean Politicians Must Report Their Bitcoin Holdings Under New La...
South Korea’s National Assembly has officially passed a bill into law requiring lawmakers and high-ranking government officials to disclose their crypto asset holdings.
The new law is a response to a recent scandal involving a politician allegedly violating campaign finance laws using cryptocurrency.
The “Kim Nam-guk Prevention Law”
According to a report from local news agency News1, the relevant amendments to the National Assembly Act and Public Service Ethics Act passed unanimously on May 22 among all lawmakers present for each, with 269 votes and 268 votes respectively.
The National Assembly Act amendment puts cryptocurrency on the list of lawmakers’ registered properties and “private interests.” Meanwhile, the amendment to the Public Officials Ethics Act passed the Public Administration and Security Committee on the same day, making both high-ranking officials and National Assembly members need to register their holdings.
The bill was originally scheduled for implementation in December but was fast-tracked to this month after the conservative People Power Party’s newly elected leader, Rep. Yun Jae-ok, said the previous date was “too late.”
“Given the current high level of public interest, especially regarding lawmakers, it’s not appropriate to enforce the law six months later after the promulgation,” said the party leader last week, while proposing a fast-tracked version of the...
|Bitcoin, Ethereum Technical Analysis: BTC Falls Below $26,000, as ETH Hi...
Bitcoin dropped below the $26,000 level on Thursday, as bearish pressure intensified in cryptocurrency markets. Prices briefly fell below the $26,000 mark earlier in the day, before rebounding. Ethereum continues to trade below $1,800.Bitcoin
Bitcoin (BTC) slipped below the $26,000 level during today's trading session, as bears continued to apply pressure to crypto markets.
BTC/USD dropped to an intraday low of $25,890.59 earlier in today's session, which comes after peaking at $26,703.88 on Wednesday.
As a result of today's decline, bitcoin fell to its weakest point since May 12, when it was at a bottom of $25,810.
Looking at the chart, the decline came following a breakout at a recent support point of $26,300.
BTC has since rebounded, and as of writing is once again hovering above this point of support.
This came as the 14-day relative strength index (RSI) found a floor of its own at the 39.00 mark.
Ethereum (ETH) also moved lower for a second consecutive session, dropping below the $1,800 level in the process.
Following a high of $1,817.97 on Wednesday, ETH/USD edged to a low of $1,763.37 today.
The move saw ethereum fall below its own support point at $1,790, hitting a two-week low in the process.
From the chart, earlier declines have somewhat eased, as a floor of 43.00 on the RSI has helped stem the bleeding.
Despite the decline, the 10-day (red), and 25-day (blue) moving averages are now close to a cross, which could lead to a reversal in price.
|Bitcoin Dumped to 2-Week Low, ApeCoin Nosedives 8% (Market Watch)
After several days of trading sideways around $27,000, bitcoin took a turn for the worse and dropped to its lowest price position in almost two weeks.
The altcoins are in no better shape, with ETH slipping below $1,800 and ADA dumping by 3% in a day. LDO is among the few exceptions with daily gains.
BTC Down to 2-Week Low
After the price slumped to $26,500 last week, bitcoin recovered most losses and stood at and above $27,000 during the weekend. The start of this week was even more positive as the cryptocurrency jumped to $27,500 on Tuesday to chart a multi-day high.
However, the bears intercepted the move and didn't allow any further increases. Just the opposite, they pushed the asset back down to around $27,000.
The past 24 hours brought even more pain for the bulls as BTC dumped by over a grand at one point and dipped below $26,000 for the first time since May 13. Despite bouncing off and recovering a few hundred dollars since that low, bitcoin is still around 2% down on the day.
As such, its market capitalization has declined to $505 billion. Its dominance over the alts has also taken a slight hit and stands now at 46.1% on CMC.
BTCUSD. Source: TradingView
APE Drops Hard
As it typically happens when BTC heads south, so do most altcoins. Ethereum is a prime example. The second-largest digital asset is down by over 2% and trades below $1,800.
Binance Coin has retraced to $305 after a 1% daily decrease. More losses among the top 15 coins come from the likes of Ripple, Carda...
|30-Day Bitcoin NFT Sales Surge to $173 Million, Securing Second Place in...
In the past month, recent data reveals that sales of non-fungible tokens (NFTs) originating from the Bitcoin blockchain have surged to $173.28 million. Surpassing 20 alternative blockchain networks, Bitcoin-based NFT sales now secure the second position in the realm of blockchain sales, with only Ethereum reigning supreme. Bitcoin-Based NFTs Storm the Market, Surpassing 20 Blockchain Competitors
Amidst the fervor surrounding the Ordinal inscription trend, Bitcoin-based NFTs have skyrocketed in popularity. The sales amassed over the past 30 days firmly established the network as the second-largest in terms of sales within this time frame. While Ethereum NFT sales saw $392.23 million, this past month Bitcoin sales tallied up to $173.28 million, up 408.29% from the month prior.
However, there has been a significant 47% decline in the number of buyers for Bitcoin-based NFTs, totaling 6,955 over the course of the past 30 days. Insights from cryptoslam.io data highlight that the leading NFT collection, in terms of sales during this period, is the Bored Ape Yacht Club (BAYC).
The BAYC collection garnered $39,307,853 in sales over the past month, closely followed by the Ordi BRC20 NFTs, which amassed a slightly lower amount at $38,375,984. Noteworthy sales also transpired within other Bitcoin-centric NFT collections, including uncategorized Ordinals, as well as Space Pepes.
Sales from uncategorized Ordinals reached $23,508,299, while Space Pepes accumulated $12,247,480 in sales. A...
|Bitcoin, Ethereum Technical Analysis: BTC, ETH 2% Lower, Ahead of FOMC M...
Bitcoin was once again trading below a key resistance level of $27,000 on Wednesday, ahead of today's U.S. Federal Open Market Committee (FOMC) minutes report. Markets are expecting that the minutes will show the Federal Reserve's timeline towards a policy pivot. Ethereum was 2% lower today.Bitcoin
Bitcoin (BTC) moved below $27,000 on Wednesday, as markets begin to prepare for the release of the upcoming FOMC minutes report.
Following a high of $27,386.99 on Tuesday, BTC/USD dropped to a low of $26,671.98 earlier in today's session.
The move comes following two days of consecutive gains, which pushed bitcoin to a one-week high.
Bitcoin chart by TradingView
Looking at the chart, the decline came as the relative strength index (RSI) of 14 days fell below a support point at 42.00.
At the time of writing this, the index is now tracking at 41.356, with a lower floor at 39.00 a possible target for bears.
If successful in reaching this level, BTC will likely be at the $26,300 mark.
Ethereum (ETH) fell by as much as 2% in today's session, however bulls have so far rejected a breakout below the $1,800 level.
ETH/USD dropped to an intraday low of $1,811.79 on Wednesday, which comes a day af...
|ChatGPT Predicts What Will Happen With BTC's Price During and After the ...
The Bitcoin network is scheduled to undertake its fourth halving in less than a year, and the speculations on whether it will have an impact on the asset's price have already begun.
After all, BTC went on a wild run after the previous three examples. But what does ChatGPT think about it?
Why Does the Bitcoin Halving Matter?
Upon creating the Bitcoin network, Satoshi Nakamoto incorporated an event happening at every 210,000 blocks (around four years) that essentially guarantees that the annual supply will be slashed in half.
The first one reduced the block rewards from 50 BTC to 25 BTC, the second (25 -> 12.5), and the third drove them down to the current 6.25. This means that the cryptocurrency's current inflation levels are under 2% and will go further down as the rewards will be 3.125 BTC after the 2024 halving.
Although there are more than 19 million BTC mined already out of the total 21 million supply ever to exist, the halvings make it so that the last mined bitcoin will be after more than 100 years from now.
Basic rules of economics dictate that if the supply of an asset declines while the demand remains the same or increases, its price should, at least in theory, rise.
This is perhaps why the previous three halvings acted as catalysts for the massive bull runs. Looking at BTC's historical data shows that the asset traded at around $12 on November 2012 (first halving) and exploded by almost 100x within a year to nearly $1,000.
July 9, 2016, was the date of the second ha...
|CoinEx Exchange Contributes to the Success of Bitcoin 2023 Conference
PRESS RELEASE. Miami, Florida/ Bitcoin 2023, a three-day bitcoin conference held in Miami Beach, Florida, has concluded, bringing together developers, investors, and crypto enthusiasts from around the world.
The conference featured a range of talks about Bitcoin, covering topics like investment landscapes, mining financialization, tax policies, current market conditions, and future trends. In addition, the Declaration of Monetary Independence (DoMI) was showcased, which was a major highlight for many attendees.
CoinEx Exchange, which sponsored the event, provided attendees with the latest Bitcoin market information, trading strategies, and crypto developments, while highlighting its technical advantages and business strength as a long-established crypto exchange. Through its sponsorship of Bitcoin 2023, the company demonstrated its commitment to the crypto industry.
“We are honored to have been a sponsor of Bitcoin 2023. Throughout our journey, we have been committed to breaking financial barriers and creating an equal and respectful cryptocurrency environment. We look forward to continuing our support of events like Bitcoin 2023, which help drive advancements in this exciting and rapidly evolving industry,” said Haipo Yang, CEO of CoinEx exchange.
CoinEx’s dedication to innovation in the crypto industry was on full display during the event, as it showcased its new trading products and services, which have helped provide a more versatile trading experience f...
|BTC Rejected at $27.5K, While LDO, LTC Dumped by 6% Daily (Market Watch)
Bitcoin initiated an impressive leg up in the past 24 hours but was violently rejected at the $27,500 resistance level.
The altcoins have also turned red on a daily scale, with LTC and LDO losing the most value from the top 36.
BTC Stopped at $27.5K
As Glassnode informed recently, BTC has been trading in a tight 3.4% range for over a week. In terms of USD numbers, this essentially means that the asset stands between $26,500 and $27,500 without being able to break above or below these levels.
The analytics company warned that more enhanced volatility could be right around the corner, and the markets experienced a glimpse of this in the past 24 hours when bitcoin jumped from under $27,000 to a multi-day high of $27,500.
However, the resistance line at this point turned out to be too big of an obstacle. BTC failed to breach it, and the subsequent rejection drove it south by almost a grand. Despite recovering a few hundred dollars since the intraday low, the cryptocurrency still struggles way below $27,000. This comes amid the growing number of reports suggesting that BTC investors have focused on HODLing instead of trading their assets.
Following the most recent price dump, bitcoin's market cap has slipped under $520 billion.
BTCUSD. Source: TradingView
LDO, LTC Drop Hard
Most alternative coins are in no better shape than BTC on a daily scale. Ethereum, which spiked above $1,850 yesterday, is down below $1,820 after a 2% drop. A similar decrease for BNB means that the asset has ...
|Bitcoin Payments App Strike Adds Support for Tether's USDT
Strike - a Bitcoin payments company and remittance app - announced the integration of the world's largest stablecoin, Tether's USDT.
The latest move comes on the heels of Strike's expansion into 65 additional countries and USDT-supported new app design, which was announced at Bitcoin 2023.
The integration aims to address key challenges hindering the widespread acceptance of the industry, including the volatility aspect of crypto-assets.
As such, combining the stability and utility of USDT with Strike's payment solutions is expected to serve as a 'reliable bridge' between the crypto world and traditional financial systems while minimizing exposure to price fluctuations.
In a statement on Monday, Tether said users will gain the ability to convert their digital assets into fiat currency swiftly with its stablecoin as an intermediary and, in the process, overcome 'liquidity challenges that have previously hindered adoption.'
Following the development, Tether CTO Paolo Ardoino commented,
'We are thrilled to announce the integration of Tether (USD?) with Strike. This is a pivotal moment for the cryptocurrency industry as it signifies the growing acceptance and recognition of stablecoins as a reliable and efficient digital payment solution.'
The exec further added that the collaboration will boost the widespread adoption of digital currencies, 'driving innovation and creating a more inclusive financial ecosystem for all.'
Strike announced t...
|Connecticut Banking Regulator Fines Crypto ATM Operator Bitcoin of Ameri...
According to the Connecticut Department of Banking, commissioner Jorge Perez revealed that the regulator has reached a settlement with the crypto automated teller machine (ATM) and kiosk operator Bitcoin of America. As part of the settlement, Bitcoin of America will pay $86,000 in restitution, and the firm will be required to cease operations in Connecticut.Crypto ATM Operator Bitcoin of America Settles with Connecticut Regulator
2023 has been a challenging year for the crypto ATM industry. General Bytes, a prominent ATM manufacturer, experienced a hack, resulting in a loss of $1.5 million. Moreover, digital currency ATMs across the United States have been rapidly shutting down.
In February, the United Kingdom initiated crackdowns on crypto ATM operators, conducting raids on various sites. The enforcement on unauthorized crypto ATM operators was further expanded by the U.K. the following month.
Connecticut's Department of Banking recently announced that Bitcoin of America will be discontinuing its crypto ATM business in the state. According to the banking regulator, four consumers in Connecticut were allegedly scammed out of tens of thousands of dollars through the use of these kiosks.
“This case highlights the need to be cautious when using virtual currency kiosks,” the state’s banking commissioner Jorge Perez stated. “Scammers are preying upon consumer’s vulnerabilities and tricking them into depositing cash into kiosks, which can be found thro...
|Bitcoin Stamps Approach 50,000 Recorded on Blockchain Alongside Introduc...
With nearly nine million Ordinal inscriptions, the trend that followed, called Bitcoin Stamps, is nearing a milestone of nearly 50,000 stamps recorded on the Bitcoin blockchain. Additionally, similar to the BRC20 token economy, the Bitcoin Stamps concept has provided users with the ability to mint fungible tokens with a standard called SRC20.Bitcoin Stamps Inch Closer to 50,000; SRC20 Tokens Enter the Picture
While there has been significant attention on Ordinal inscriptions and the BRC20 economy, the Bitcoin Stamps trend is still relatively unknown. As of May 23, 2023, there are currently 46,578 Bitcoin Stamps recorded on the BTC blockchain, approaching the 50,000 milestone. The current number of stamps can be viewed at stampchain.io and rarestamp.xyz.
Popular collections include the Pixel Gods, 3GGS, Eternai Rare, Stamp Punks, Stamp Wizards, Stamp Pepes, Stamp Pepes Not, and Classic Arcade. These collections have been available for a considerable period and are sold through rarestamp.xyz's marketplace. A new concept has recently emerged alongside the Bitcoin Stamps trend, known as SRC20 tokens. Similar to BRC20s, this token concept enables users to mint fungible token supplies using the technology.
'SRC20 is a bleeding edge protocol on Bitcoin Stamps,' the website stampchain.io details. 'We're working hard to build indexing tools and form partnerships with marketplaces. However, it is early. You're not going to see these tokens in your wallet just yet.'
|Bitcoin Increasingly Being Used as 'Buy-and-Hold' Asset: Bitfinex Report
Bitcoin turned higher this week, recording a modest 2% gain. While the largest crypto asset continues to languish below several key levels, the holders' accumulation over the past several weeks suggests that it is 'increasingly being used as a buy-and-hold asset.''
According to Bitfinex's latest report, over 68.45% of the total supply, amounting to 13.27 million of the 19.4 million BTC in existence, have not moved in over a year.
This growing trend of investors holding strongly demonstrates a changing attitude towards Bitcoin ownership.
Another important indicator that underlined the prevailing trend of long-term accumulation is the number of 'Wholecoiner' addresses crossing the one million mark this week.
These Wholecoiners can be defined as entities or individuals possessing at least one entire BTC and constitute a substantial segment of the Bitcoin community.
Data indicates that these investors have been gradually amassing since mid-2021, and there has been almost no notable reversal in the upward trajectory of 1-BTC wallets ever since.
The trend became even more pronounced in 2022 as the market plunged, and this cohort saw a 20% increase as a result.
Reiterating its previous analysis that Bitcoin could be in the early stages of a bull market, Bitfinex added,
'Despite the current market downturn, long-term Bitcoin holders remain undeterred. The increasing trend of long-term holding, coupled with the rise of Wholecoiners and the benefit to miners from increased transactio...
|These Are the Critical Levels for BTC in the Immediate Term (Bitcoin Pri...
For the past two weeks, Bitcoin has maintained its range-bound price movement. However, there are several indicators pointing toward an imminent breakout.
The Daily Chart
The price has been consolidating within a narrow range on the daily timeframe for the last 7 days. This consolidation follows the market's downward rejection at the $30K resistance level and the subsequent breakdown of the 50-day moving average of around $29K.
Currently, the expected bearish target for the price is the $25K support level. However, there is a possibility that the price may first retest the 50-day moving average before continuing its decline toward $25K.
The RSI is also showing an upward trend and is approaching the 50% threshold, indicating a potential pullback toward the 50-day moving average or perhaps even another retest of the $30K resistance level in the coming weeks.
It's worth noting that the latter scenario would likely invalidate the former, and a bullish breakout above the $30K level would then be more likely in this case.
The 4-Hour Chart
The 4-hour chart presents an intriguing situation. Currently, the price is undergoing a retest of both the $27,500 level and the upper boundary of a small bearish flag. If it faces another rejection, there is a strong likelihood of a decline towards the lower boundary of a larger channel and the $25K support level.
On the contrary, a breakout above this area would potentially result in a push out of ...
|Bitcoin, Ethereum Technical Analysis: Dollar Weakness Pushes BTC Higher,...
Bitcoin rebounded on Tuesday, as a result of weakness in the U.S. dollar, following failed talks to tackle the debt ceiling crisis. President Biden stated, 'We reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement.'Bitcoin
Bitcoin (BTC) rose above $27,000 on Tuesday, as a result of weakness in the greenback, following failed talks to increase the U.S. debt ceiling.
After dropping to a low of $26,714.18 to start the week, BTC/USD surged to a peak of $27,434.68 earlier today.
Tuesday's gains saw bitcoin marginally break out of a resistance level at the $27,300 mark.
This coincided with the relative strength index (RSI) climbing above a ceiling of its own, at 44.00.
At the time of writing, the index is now tracking at 47.10, with an upcoming zone of 50.00 a likely target for bulls.
Should they reach this point, there is a reasonable chance that bitcoin will trade above $27,600.
Ethereum (ETH) also surged higher in today's session, as prices continued to move away from a key level of support.
ETH/USD hit an intraday high of $1,869.34 on Monday, 24 hours removed from trading at a bottom of $1,809.54.
The move came as the world's second largest cryptocurrency bounced away from a recent floor at $1,790.
Looking at the chart, today's surge comes following a slight breakout of a ceiling on the RSI at the 50.00 mark.
As of writing, price strength is now tracking at 51.97, with the next visible lev...
|Bitcoin (BTC) Close to Bullish Breakout as Bottom Is in: Glassnode Co-fo...
The 'poor sentiment' surrounding Bitcoin dominated the trend over several weeks as its price mostly remained trapped below the $28,000 level.
However, more recent data is flashing bullish for the world's largest crypto asset indicating that it could potentially be on the cusp of a bullish breakout.
Bitcoin Bottom Is In
Bitcoin's tight-range consolidation may finally end. Glassnode co-founder Negentropic, for one, believes the bottom for the crypto asset is near and that it is only a matter of time before the price 'goes off.'
According to his analysis, shorts are getting exhausted after failing numerous attempts to break below 200SMA, a level which he deems to be 'a solid support.' With the 50SMA's bullish crossover over 200SMA, Bitcoin is expected to flip the narrative in its favor soon.
#Bitcoin bottom is in
Shorts getting exhausted after failing numerous attempts to break below 200SMA, which is a solid support.
50SMA bullish crossover over 200SMA, it's a matter of when #BTC goes off https://t.co/pfyjsmCGyE pic.twitter.com/ZmKVQiQwYz
— (@Negentropic_) May 22, 2023
The development comes just days after the analytic firm noted that the conviction of existing Bitcoin holders remained 'remarkably high,' even as the market witnessed extreme volatility and immense deleveraging over the last two years.
Santiment also observed that investors are moving their Bitcoin stashes from crypto exchanges to cold storage wallets. While existing supplies moving into self-custody is no...
|Conflux (CFX) Skyrockets 16%, Bitcoin (BTC) Reclaims $27K (Market Watch)
After slipping to $26,600 on Bitcoin pizza day, the cryptocurrency reversed its trajectory and shot up by almost a grand.
The altcoins are also slightly in the green, with ETH, MATIC, SHIB, TRX, and AVAX jumping by around 3% daily.
BTC Reclaims $27K
The primary cryptocurrency has been stuck in a relatively tight range for the past week or so, which was also acknowledged by Glassnode yesterday. The analytics resource informed that BTC's 7-day price range had declined to 3.4%, which has happened just a few times in the past three years.
Each time, though, was followed by a massive price move in either direction. As such, Glassnode warned that there might be a lot more volatility coming soon.
As of now, though, the asset remains in this range. Yesterday was Bitcoin pizza day, and BTC dropped to the lower side of the range at $26,600. The bulls intervened at this point and pushed it north, driving it to a multi-day high of almost $27,400.
Despite failing to continue further, BTC still trades above $27,000 as of now. Its market cap has neared $530 billion, while its dominance over the alts stands at the same position - 46.4%.
BTCUSD. Source: TradingView
ETH Defends $1.8K
Similar to bitcoin, ETH also saw little-to-no movements in the past several days but was gradually losing ground. As such, it was close to breaking below $1,800. However, a 2.5% increase in the past 24 hours has prevented such a development, and the second-largest digital asset currently trades at $1,850.
|Dormant Bitcoin Wallet From 2010 Makes Rare Transaction on 13th Annivers...
As bitcoin enthusiasts commemorate Bitcoin Pizza Day, marking the 13th anniversary of Laszlo Hanyecz's acquisition of two pizzas for 10,000 BTC on May 22, a dormant sleeping bitcoin wallet from July 2010 has made a transaction of 50 BTC after almost 13 years.Bitcoin Wallet From 2010 Comes Out of Hibernation on Bitcoin Pizza Day
On Monday, May 22, 2023, bitcoin supporters are observing the landmark event when software programmer Laszlo Hanyecz traded 10,000 BTC for two Papa John's supreme pizzas. Valued at $266 million at current exchange rates, Hanyecz has repeatedly stated that he has no regrets about the decision.
Coinciding with the 13th-anniversary celebrations of Bitcoin Pizza Day, a long-time bitcoin holder opted to spend 50 BTC from an address established on July 12, 2010. The original acquisition transaction took place just 51 days after Hanyecz utilized his 10,000 Bitcoins and the coins are now worth $1.33 million based on current BTC exchange rates.
Throughout this year, there have been numerous instances of block reward expenditures from 2011 or inactive bitcoin addresses from later years; however, only four transactions involving block rewards from 2010 have occurred in 2023 thus far. The block subsidy spent by the address '1B67K' also includes 50 bitcoin cash (BCH), which remains untouched today with a value of $5,736.
The transfer was found to lack privacy by Blockchair's privacy tool, revealing 'critical' issues that could lead to address tracking. A 'critical...
|Crypto Exchanges Experience $1.77B Bitcoin and Ethereum Outflow in 30 Da...
Throughout May, the crypto market has remained steady, with a valuation just above the $1 trillion mark. Over the past 30 days, both bitcoin and ethereum prices have remained relatively stable. However, recent data reveals a significant amount of bitcoin has been withdrawn from exchanges, with 43,301 BTC, valued at $1.16 billion, leaving centralized trading platforms in the past month. A large number of major cryptocurrency exchanges have seen a significant outflow of bitcoin, according to data.Exchanges Experience Crypto Exodus Despite Steady Market
As of May 21, 2023, centralized crypto exchanges held $57.29 billion worth of bitcoin, equivalent to 10.99% of the leading cryptocurrency's market capitalization. However, since the collapse of FTX on November 5, 2022, a significant amount of BTC has been withdrawn from exchanges. Prior to this event, Cryptoquant data shows centralized trading platforms held 2.5 million bitcoin. In the past month alone, 43,301 BTC, valued at over $1.16 billion, have left these platforms.
According to data recorded by coinglass.com, Binance currently holds the largest bitcoin reserve, with a balance of 555,435 on Sunday evening. However, over the past 30 days, the exchange has experienced an outflow of approximately 10,102 BTC. Coinbase comes in second place with 486,630 bitcoin in reserves, and saw a modest increase of around 316 BTC in the past month. Bitfinex, the third largest exchange in terms of BTC holdings, also experienced a slight incre...
|Bitcoin (BTC) Headed for Massive Price Moves Soon, According to This Met...
Although typically regarded as a volatile asset with major price fluctuations, bitcoin has been stuck in a tight range for the past several days.
However, all that could change in the following days, at least according to similar historical developments.
Aside from a price dive on May 12 to a two-month low, BTC's recent performance has been rather uneventful.
The asset went to a high of $27,600 last week and then dipped by a grand, which was the most substantial price move of the past ten days or so.
Somewhat expectedly, the 7-day price range of the cryptocurrency has gone into rarely-seen territory. Glassnode informed that this metric is at 3.4% now, which is 'one of the tightest of the last 3 years.'
Although rare, this development is not without previous examples. The analytics company provided a few of those, including one in July 2020 and another early this year (January 2023), both of which were followed by substantial price moves.
After the July 2020 stagnation, bitcoin went on a massive run that resulted in smashing the previous all-time high and charting a new one several months down the road. Following the January 2023 example, BTC shot up once again, albeit in a more modest fashion.
Another similar situation transpired in late 2021 and early 2022. That one, though, was followed by a significant price retracement that drove BTC from its ATH of $69,000 to under $30,000 in a few months.
Given the historical developments, Glassnode suggested that more volatility is in...