Gold may buy less and less Bitcoin (BTC) this year, but another measure of the cryptocurrency’s strength has just hit a historic milestone. Data from on-chain analytics service Ecoinometrics shows that on March 17, the so-called Big Sats Index saw a United States McDonald’s Big Mac cost less than 10,000 satoshis for the first time.
Bitcoin (BTC) is superior to gold if investors take the time to study it, says hedge fund manager Anthony Scaramucci. In an interview with CNBC on March 18, Scaramucci, who is CEO of SkyBridge Capital, reinforced his belief in Bitcoin for mainstream audiences. Scaramucci on Bitcoin vs. gold: “The world is changing” With Bitcoin surging
Bitcoin (BTC) has plenty of room to grow in its current bull run and “will not stop” at $100,000, according to analysts including PlanB. In various posts on social media on Wednesday, the stock-to-flow Bitcoin price model creator joined others in predicting huge new all-time highs for BTC/USD. PlanB taps S2FX model’s $288,000 average price
Bitcoin (BTC) has continued to challenge the status of legacy markets as the market capitalization of the digital asset surpassed the combined market cap of Visa and Mastercard ($871 billion). Bitcoin’s $1.15 trillion market capitalization has also overtaken the combined value of JPMorgan Chase, Bank of America and the Industrial and Commercial Bank of China, which
Over the past two months, the open interest on Bitcoin options increased by 60% to reach $13.5 billion as the BTC price rose to a new all-time high. The result of Bitcoin’s price appreciation and the rising options open interest resulted in a potentially historic $6.1 billion expiry set for March 26. BTC options aggregate
As Bitcoin price dropped below $55,000 on March 15, Ether (ETH) pulled back to confirm the $1,750 level as support. This signals optimism from professional traders despite the 12% drop that occurred after Ether price peaked at $1,950 on March 13. While Ether may be bullish from the price perspective, recent news surrounding the protocol
Bitcoin (BTC) price has rallied 22.5% in March, but as the price moved up, some buyers began to use excessive leverage, according to derivatives data. Meanwhile, futures open interest reached a $22.5 billion record-high, causing investors to question how sustainable the current rally is. Being optimistic, especially during a bullish market, can’t be deemed worrisome.
Traders are increasingly checking on-chain data to “predict” both the short-term and long-term price trend of Bitcoin (BTC) using such platforms as CryptoQuant, Glassnode and WhaleAlert. Particularly, data points such as Bitcoin exchange inflows, outflows, and stablecoin inflows are actively used by traders to anticipate where BTC may go next. 499 #BTC (29,979,163 USD) transferred
Bitcoin (BTC) pared some gains, dipping below $60,000 on March 14, a day after setting a new all-time high of $61,950 on Binance. However, on-chain data indicates that the uptrend is likely to continue in the near term. One key metric that is signaling an optimistic short-term trend for Bitcoin is the rise in stablecoin
Bitcoin (BTC) hit $60,000 for the first time on March 13 as the long-awaited continuation of the BTC price bull run got underway. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC records another landmark price level Data from Cointelegraph Markets and Tradingview tracked BTC/USD as the pair finally crossed the historic level after several weeks of
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Bitcoin (BTC) miners are selling less and less BTC, but if one metric is correct, they could soon start causing a major price correction. In an update on March 11, Philip Swift, creator of on-chain data resource LookIntoBitcoin, flagged familiar warning signs from the Puell Multiple. Developed by David Puell, the Puell Multiple tracks when
As mobile devices, cost and the ease of accessing the internet becomes less of a challenge for people across the world, the value of data has become a new highly desired commodity. Governments and companies utilize customer and user data for a vast array of purposes and this has placed added emphasis on how data
Bitcoin (BTC) fell $2,000 overnight on March 11 after United States-based multinational Oracle dispelled rumors that it had bought 72,000 BTC. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview Data from Cointelegraph Markets and TradingView showed BTC/USD returning to $55,000 on Thursday after hitting local highs of around $57,00. The previous day had delivered strong performance across
Grayscale Investments’ GBTC Bitcoin Trust has been under the heat for the last couple of weeks as it traded below the BTC equivalent for each share. The instrument trades on over-the-counter markets and is by far the largest listed cryptocurrency asset. Periodically, the private-placement offerings for GBTC shares are temporarily closed, as well as similar
Within the last hour, Bitcoin (BTC) price surged to $57,100, a level not seen since Feb. 20 when BTC price made a new all-time high at $58,352. The bullish breakout signals that investor sentiment has shifted back in favor of bulls and it increases the likelihood that BTC will attempt a run at the $60,000