Bitcoin Price Surge Explanation Bitcoin’s recent rise is attributed to two main factors: The German government running out of BTC to sell A weakening US dollar Bitcoin has seen a 1.70% increase, reaching approximately $58,885. The German government has sold off most of its 70,000 BTC holdings, with only 9,100 BTC remaining. This selloff amounted […]
Nigerian SEC urged to classify Bitcoin, Ether as commodities By treating Bitcoin and Ether as commodities, Nigerian regulators can establish a more tailored regulatory framework that reflects the unique characteristics of these digital assets. In light of a recent court ruling in Illinois that classified Bitcoin and Ether as commodities, Nigerian stakeholders are urging the […]
Price Analysis 7/12: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB Retail and institutional traders have been buying Bitcoin on the dips, and the early-stage recovery in select altcoins suggests that the crypto market is in a bottoming stage. Bitcoin (BTC) bounced off the $56,500 support on July 12, indicating demand at lower […]
Bitcoin bottom signal? German gov’t runs out of BTC to sell Bitcoin price could be on track to begin the reaccumulation phase as the German government is down to its last few thousand BTC. Bitcoin price may have seen the local bottom as the German government is running out of Bitcoin to sell. Technical indicators […]
Key BTC price levels emerge as Bitcoin hits $58K on ‘sticky’ US PPI Bitcoin edges higher while the US dollar flags on the latest PPI inflation data, but BTC price strength has yet to convince analysts. Bitcoin tagged $58,000 around the July 12 Wall Street open as markets reacted to “sticky” United States inflation data. […]
Bitcoin Institutional Investors Add 100K BTC in a Week BTC price action may be flagging, but large-volume Bitcoin investors are buying, not capitulating, data shows. Bitcoin institutional investors are “buying the dip” while BTC price action circles multi-month lows, analysis says. In one of its Quicktake blog posts on July 11, on-chain analytics platform CryptoQuant […]
German Government Bitcoin Sales Update The German government has sold 88.4% of its original 50,000 BTC holdings, leaving only 5,800 Bitcoin in its wallet. Recent Bitcoin Transfers 3,200 BTC transferred across various platforms Bitstamp, Kraken, and Coinbase received 400 BTC each 1,000 BTC and 500 BTC sent to two unknown addresses Crypto analyst Michaël van […]
Germany’s Bitcoin Reserves Deplete Rapidly Germany’s Bitcoin reserves dropped to 9,094 BTC after significant transfers to various exchanges, but some funds were later returned. The German government’s Bitcoin wallet now only holds 18% of its initial amount of Bitcoin seized from a film pirating website crackdown in January. Recent transfers to cryptocurrency exchanges like Coinbase, […]
Analysis of IREN Miner Decline Crypto miner IREN, formerly known as Iris Energy, saw a significant drop of 24% on the Nasdaq following a report from a short seller firm. Short Seller Criticism Culper Research accused IREN of being “wildly overvalued.” The firm claims IREN is failing to invest enough to compete in the AI […]
Bitcoin price struggles as investors expect Fed interest rate cuts — Why? Bitcoin price is stuck in a downtrend even though investors are betting on Fed interest rate cuts. What gives? The United States Consumer Price Index (CPI) rose by 3% year-over-year in June, slightly below the market consensus of 3.1%. Analysts claim that this […]
