Author: Max Bauer
Bitcoin’s bull market retracements are becoming less severe, according to on-chain analysis firm Glassnode. While sharp price increases are typically followed by periods of selling pressure, data suggests that the magnitude of these corrections is gradually diminishing as the market matures. Glassnode’s analysis reveals that the most significant retracement in the current cycle occurred on August 5, 2024, with a 32% drop. However, most retracements have seen Bitcoin’s price fall only 25% below the local high, indicating relatively low volatility compared to previous cycles. This reduced volatility may be attributed to several factors, including the introduction of spot Bitcoin ETFs,…
Bitcoin could be on track to reach a new all-time high around mid-January 2025, according to cryptocurrency research firm K33. Despite recent fluctuations following its surge past the $100,000 mark earlier this month, historical data suggests a potential surge in Bitcoin’s price in the coming months. Vetle Lunde, Research Manager at K33, points to a pattern observed in the past three Bitcoin cycles. Analyzing historical data, Lunde found that the average duration between the first and last all-time highs in a given cycle is 318 days. Given that Bitcoin first reached a new all-time high in the current cycle on…
Do Kwon, the disgraced South Korean cryptocurrency entrepreneur, has suffered another legal setback in his fight against extradition. Montenegro’s Constitutional Court today unanimously rejected Kwon’s appeal of a prior extradition verdict, paving the way for his transfer to either the United States or South Korea to face charges related to the spectacular collapse of his Terraform Labs cryptocurrency empire. According to local newspaper Vijesti, the court dismissed Kwon’s appeal citing legal deficiencies. The final decision on where Kwon will be extradited now rests with Montenegro’s Justice Minister. Observers believe extradition to the United States is the more likely outcome, based…
Cryptocurrency analyst Timothy Peterson predicts a potential “Santa Claus Rally” for Bitcoin, citing several key indicators in a recent analysis shared online. Peterson presented his case in a threaded post illustrated with charts, pointing to three primary factors supporting his bullish outlook. First, Peterson highlights the current state of the US dollar. According to his analysis, the dollar is nearing a short-term high, with an 85% probability of a reversal. He explains that a weakening dollar often reduces global demand for USD, prompting investors to explore alternative assets, including Bitcoin. Historically, Bitcoin’s price has shown an inverse correlation with the…
According to a recent market analysis by Matrixport, Bitcoin’s current price correction presents a potential buying opportunity, setting the stage for a rebound in 2025. The cryptocurrency investment platform notes that Bitcoin’s recent 40% surge followed by a correction aligns with historical cyclical patterns. Currently, Bitcoin’s price hovers around 3% lower than its value a month ago. BTC is currently trading about 3% lower than its price a month ago, with a recent high of $108,000. According to Matrixport, corrections of 10% to 20% in a bull market are common and often provide an ideal re-entry point for traders and…
As Bitcoin celebrates a Christmas Eve surge back to $98,000, market analysts are looking ahead to 2025, identifying key factors that could significantly impact the cryptocurrency’s future. According to Yuya Hasegawa, an analyst at Japanese cryptocurrency exchange Bitbank, three major forces will shape Bitcoin’s trajectory in the coming year: the Trump administration’s encryption policy, the Federal Reserve’s monetary policy, and the looming US government debt. Hasegawa points to the Trump administration’s stance on cryptocurrency as a primary driver of market sentiment. The administration’s proposed strategic Bitcoin reserve plan, along with the appointment of pro-cryptocurrency officials, are expected to heavily influence…
Prominent trader Eugene Ng Ah Sio, known for his astute market calls, recently revealed a significant $6.2 million loss on a Solana (SOL) trade, marking the largest single loss in his trading account’s history. In a candid trading summary, Ng Ah Sio detailed the series of decisions that led to the substantial setback, offering valuable insights into the psychological pitfalls that can snare even seasoned investors. Ng Ah Sio’s SOL saga began after a successful Bitcoin (BTC) trade, where he capitalized on a price appreciation from $102,000 to $107,000. Confident from this victory, he shifted his profits into SOL and…
Former North Carolina congressional candidate Bo Hines has been appointed Executive Director of the Presidential Council of Advisers for Digital Assets, dubbed the “Crypto Council,” by Donald Trump. The announcement, made via Truth Social on Sunday, positions Hines alongside previously appointed tech advisor David Sacks to spearhead the Trump administration’s approach to cryptocurrency and digital assets. Trump emphasized Hines’ role in fostering innovation and growth within the digital asset space, stating that Hines and Sacks will collaborate to ensure industry leaders have the necessary resources to thrive. He envisions creating an environment where the crypto industry can flourish and contribute…
Richard Schueler, the founder of HEX and PulseChain, better known as Richard Heart, has been added to Interpol’s most wanted list, facing charges of aggravated tax fraud and assault in Finland. Finnish authorities are investigating Schueler, a US citizen who had been residing in Helsinki, for allegedly evading hundreds of millions of euros in taxes. According to Finnish news outlet YLE, Helsinki police detective Harri Saaristola stated that the investigation stemmed from discrepancies between Schueler’s tax returns and the Finnish Tax Administration’s income assessment. The alleged tax evasion occurred between June 2020 and April 2024. A separate assault charge relates…
Cryptocurrency analytics firm Alphractal has issued a cautionary note on Bitcoin’s recent price action, highlighting a potential disconnect between market sentiment and price movement. Despite a positive aggregated Funding Rate, which typically indicates bullish sentiment, Bitcoin has experienced a decline, raising concerns about excessive optimism and potential selling pressure. The Funding Rate, a key metric in the cryptocurrency derivatives market, reflects the balance between long and short positions in perpetual futures contracts. A high Funding Rate suggests a predominance of long positions, often interpreted as a sign of market optimism. However, Alphractal’s analysis reveals a divergence from this typical pattern.…