More

    Bitcoin price – live: crypto market whales ‘aggressively’ buy btc on bullish signal

    Other leading cryptocurrencies, including Ethereum (ether), dogecoin, and Cardano (ada) have seen a similar stint of stability in recent days, though current trends suggest price gains could be on their way. The cryptocurrency dropped in value by around 5 per cent overnight but remains above $34,000 on Monday morning.

    An increase in crypto whales – addresses holding more than 1,000 bitcoins – occurred in tandem with the record-breaking run that took bitcoin to its all-time high above $64,000 in April.

    The latest crypto market data from analytics firm Glassnode shows that there has been a significant uptick in so-called whale accounts, which is typically a bullish signal.

    You can follow all the latest news, updates and expert price predictions right here.

    Show latest update

    1625482735Bitcoin mining difficulty sees record-breaking drop

    China’s crackdown on the crypto industry has led to the biggest drop in bitcoin mining difficulty in history.

    The ban on bitcoin mines in large parts of China has been partly blamed for the cryptocurrency’s recent losses, however some claim it will ultimately benefit the industry as it will mean the network is more evenly distributed.

    Over the weekend, mining difficulty plummeted by more than 27 per cent, causing transaction fees to also plunge. This occurrence may have helped contribute to bitcoin’s brief price spike that saw it rise close to $36,000.

    (Glassnode/ @DocumentingBTC)

    Anthony Cuthbertson5 July 2021 11:58

    1625477732Bitcoin ‘whales’ hit two-month high

    The number of so-called “whales” – crypto holders with more than 1,000 bitcoins – has hit a two-month high, leading to speculation that significant price gains could be on their way.

    Data from market analytics firm Glassnode reveals that the number of whale entities rose by 80,000 to 4.126 million – just a few hundred thousand off the al-time high seen in February 2021.

    The increase in crypto whales is typically seen as a bullish sign, as it shows that those with the most power over the market are currently accumulating bitcoins.

    Anthony Cuthbertson5 July 2021 10:35

    “The latest uptick in the whale balance suggests the bottom may have been reached,” notes CoinDesk’s Omkar Godbole.

    to The Independent’s live coverage of the crypto market.

    1625474294Hello and welcome…

    News Highlights Business

    • Bitcoin price – live: crypto market whales ‘aggressively’ buy btc on bullish signal
    • Check all news and articles from the Business news updates.

    Disclaimer: If you need to update/edit/remove this news or article then please contact our support team.

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Atlantis Exchange Received 30,000,000 Advanced Bitcoin as Liquidity

    SEATTLE, WA, May 20, 2022 /24-7PressRelease/ — Atlantis Exchange is pleased to announce that a deposit of 30,000,000 Advanced Bitcoin (“aBTC”), a green cryptocurrency...

    These indicators show how the equities sell-off is influencing crypto prices to fall down

    Cryptocurrencies experienced on May 10 a large market crash, losing over 10% in a single day of most of the coins. This is the...

    Xendit Raises $300M to Grow Payments Platform

    Southeast Asia payments platform Xendit closed a $300 million Series D funding round that brings its total investment capital since 2015 to $538 million,...

    Top Cryptocurrency Prices Today, May 20: After crypto crash, Bitcoin, ETH, Solana, ADA, Polkadot, Matic rise upto 6%

    Top Cryptocurrencies of the World Prices Today in India (May 20, 2022): The global crypto market cap recovered 2.87% in the last 24 hours...

    Ethereum to Merge in August as Final Testing Begins

    The Merge is a milestone upgrade that transitions the Ethereum network consensus mechanism from proof-of-work mining to proof-of-stake (PoS). It is a significant step...

    Newsletter

    Subscribe to stay updated.