PlanB’s Stock-to-Flow (S2F) model, known for predicting Bitcoin’s price based on scarcity, has faced scrutiny as the digital asset’s value has remained below the model’s expectations since 2021. The S2F model, which correlates the increasing scarcity of Bitcoin due to halving events with price appreciation, suggested a significantly higher price than the actual market value …
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The narrowing Japanese “yen carry trade” has been blamed for the Aug. 5 global market downturn that sent stock markets and top cryptocurrencies like bitcoin and ethereum plunging by double-digit figures. Some experts cite the disappointing U.S. jobs data and Mt Gox-related selling as factors contributing to the decline. Nikkei Posts Worst Single-Day Loss In …
U.S. equities have joined the global downturn, following sharp declines across Asia and Europe, with Japan’s Nikkei suffering significant losses. By 11:15 a.m. EDT on Monday, the five major U.S. stock indices had fallen between 2.5% and 4.5%. This market turmoil has extended to crypto-related stocks such as Microstrategy’s MSTR and Coinbase’s COIN. The primary …
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Presently, the cryptocurrency market is experiencing a significant downturn, with bitcoin dropping 24% this week and ethereum shedding 30% against the U.S. dollar. While these losses are notable, some digital currencies have fared even worse, with only a handful managing to buck the trend. Dozens of Crypto Coins See Percentage Losses, A Few Tumble 50% …
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More than 2,000 compromised cryptocurrency wallets belonging to Australians were recently uncovered during a global operation targeting cryptocurrency scammers. The Australian Federal Police is reportedly investigating Australian losses identified in “Operation Spincaster” and gathering intelligence on scammer tactics. Gathering Intelligence on Scammer Tactics The Australian Federal Police (AFP) recently discovered more than 2,000 compromised cryptocurrency …
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As of 9 a.m. EDT on Monday, the crypto market experienced a $1.15 billion loss in derivatives positions, with $975.93 million of these being long positions. Of that total, approximately $403.82 million came from BTC positions, while $364.98 million resulted from ETH positions being liquidated. Mass Liquidation Madness On Monday morning, the crypto market faced …
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On August 5, 2024, ethereum’s price action has been dominated by strong bearish sentiment across multiple timeframes. While short-term consolidation suggests some indecision, the overall market indicators point towards continued downward pressure. With critical support levels approaching, traders should exercise caution as the market searches for stability. Ethereum Ethereum’s price is facing significant downward pressure …
A widely followed crypto analyst is issuing a warning about Bitcoin (BTC), saying that traders shouldn’t rule out the crypto king dropping below $50,000. Pseudonymous crypto trader Kaleo tells his 642,200 followers on the social media platform X that Bitcoin could dip into the high $40,000 to low $50,000 range before taking off to fresh …
An unknown whale trader with a 100% positive track record has been aggressively buying Ethereum (ETH) for months, according to blockchain tracking firm Lookonchain. Lookonchain says one “smart money” whale with a perfect track record of closing trades in profit has accumulated nearly $70 million worth of ETH since late May. On-chain data shows the …
Crypto veteran Chris Burniske is reasserting his confidence in Ethereum (ETH) rival Solana (SOL), confirming a future price prediction despite the downward market. Late last month, Burniske, a partner at crypto venture firm Placeholder, said that a price target of $1,000 per SOL may end up looking “conservative” in the future. Since his prediction, Solana …
Quick Take The Federal Reserve recently maintained the federal funds rates at 5.25-5.50%. However, a continuation of poor US data, including weak US jobs data, has triggered the Sahm Rule, signaling a potential recession. Consequently, the market anticipates roughly 50 basis points (bps) of rate cuts in the upcoming September meeting, which is 44 days away. CME Fed Watch …
Investors are fleeing perceived riskier assets like Bitcoin due to a challenging macroeconomic environment severely impacting the crypto market. Bitcoin‘s price plunged to a six-month low of under $50,000 amid a broader crypto market sell-off that led to over $1 billion in liquidations. The flagship digital asset lost critical support levels in the past day, …
Bitcoin experienced a sharp decline from $61,000 to $49,000 within 24 hours before rebounding to approximately $52,000 as of press time. The price drop triggered significant market liquidations, with total losses reaching $1.06 billion, according to Coinglass. Long positions were heavily affected, accounting for $902.16 million, while short positions saw $153.18 million in liquidations. Breaking …
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Argo Blockchain PLC has today released its July 2024 operational update, reporting the mining of 48 BTC, maintaining an average of 1.5 BTC per day, consistent with June 2024. The company generated $3 million in mining revenue, with a mining margin in the mid-20% range, slightly lower than the previous month due to a lower …
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