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Bitcoin price holding $26,000 could open up some bullish trading opportunities in TON, XMR, MNT and QNT. Bitcoin (BTC) has gone silent over the weekend. CryptoQuant CEO Ki Young Ju said in a recent post on X (formerly Twitter) that Bitcoin’s velocity has declined to a 3-year low. He said this could either be considered positive as whales were holding on to their positions or negative because the transfer to new investors was not happening. The range-bound action continues to perplex investors about the next possible trending move. In that regard, there was a positive commentary from JPMorgan analysts who said that Bitcoin’s downtrend could be ending. They believe that the declining open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange suggests that the long liquidation is over. Crypto market data daily view. Source: Coin360 As Bitcoin decides its next move, select altcoins are showing signs of strength. These altcoins could turn negative if Bitcoin’s range res...

THORChain (RUNE) has been constantly losing value since April 2022 with a few hikes. The asset rose by 48% over the past seven days, reaching a key milestone of $1.42 on Aug. 13. According to data provided by Santiment, the recent surge in THORChain’s price was fueled by a significant surge in social volume. Per the data, RUNE’s social volume rose by 4,300% between Aug. 7 and Aug. 13, driving notable attention toward the cross-chain liquidity protocol. RUNE price, social volume, sentiment and volatility – Aug. 14 | Source: Santiment Moreover, positive investor sentiment around THORChain has grown by 6,100% in the mentioned timeline. This caused the asset’s trading volume to spike as more investors jumped in. You might also like: Unizen enters a strategic partnership with THORChain Over the past 24 hours, however, RUNE’s social volume and positive sentiment plunged significantly as the asset dived the $1.34 mark.  RUNE is up by 5.5% in the past 24 hours and trading a...

Data suggests that investors are better off buying spot Bitcoin then attempting to mine it, unless the market is in a mega bull run. While intuitively, mining Bitcoin may appear like a highly profitable endeavor, research suggests otherwise.  After discovering Bitcoin, most users go down the rabbit hole and consider whether it is better to mine or buy Bitcoin directly. They usually give up due to the cost and rigor of running ASIC miners, regulatory uncertainty, and the lack of technical expertise. Hypothetically, if one overcomes the above challenges, they could enjoy advantages such as full autonomy over their operations and diversification of their crypto investment via physical hardware instead of directly purchasing Bitcoin, but the entire venture can be risky and labor intensive. To mine, or not to mine BTC? Analysis by Bitcoin (BTC) mining data firm, Hashrate Index, suggested that “buying bitcoin is preferable to mining it in most circumstances.” Jaran Mellurad, a Bitcoin minin...

BTC’s market cap has climbed to the 11th spot amongst top assets by market cap and now sits behind electric vehicle maker Tesla. Despite a turbulent week for crypto following the downfall of Silicon Valley Bank (SVB) and Signature Bank, Bitcoin (BTC) market cap has managed to flip that of tech giant Meta. At the time of writing, data from Companies Market Cap shows Bitcoin's market cap has reached $471.86 billion, surpassing that of Meta’s market cap of $469 billion. Companies Market Cap provides real-time monitoring and ranking of market caps for cryptocurrencies, public companies, precious metals, and ETFs. Bitcoin's market cap standing compared to other assets. Source: Companies Market Cap Only 24 hours earlier, BTC’s market cap was nearly $37 billion below Meta’s market cap, sitting at $433.49 billion compared to Meta’s market cap of $469 billion. However, Bitcoin’s market cap rose 9.7% in the past 24 hours, pushing the cryptocurrency to sit in the 11th spot among top...

Strong U.S. jobs data for January could not pull Bitcoin and select altcoins lower, indicating a strong bullish undercurrent. Bitcoin’s (BTC) rally in 2023 has been boosted by expectations that the United States Federal Reserve will slow down the pace of its rate hikes as inflation has started cooling down. Some even anticipate a rate cut by the end of the year. That assumption received a jolt on Feb.3 when the U.S. employment data for January beat expectations and unemployment hit its lowest level since May 1969. If markets do not react negatively to news perceived as bearish, it’s a sign that the sentiment has turned positive. Traders may then shift their focus to the next important economic data release. Trading firm QCP Capital said in its latest market update that the Consumer Price Index print on Feb. 14 could move markets. They believe the risks to the data are to the upside. Daily cryptocurrency market performance. Source: Coin360 The current crypto bear market seems to have ...

Bitcoin and select altcoins remain under pressure as bounces off support levels are being sold into. Investors have faced a tumultuous year in 2022 as stocks, bonds, and the cryptocurrency sector have all witnessed sharp declines. As of Nov. 30, the performance of a traditional portfolio comprising 60% stocks and 40% bonds has been the worst since 1932, according to a report by Financial Times. The next big question troubling crypto investors is whether the pain in Bitcoin (BTC) is over or will the downtrend continue in 2023. Analysts seem to be divided in their opinion for the first quarter of the new year. While some expect a drop to $10,000 others anticipate a rally to $22,000. Daily cryptocurrency market performance. Source: Coin360 While the near-term remains uncertain, research and trading firm Capriole Investments said in its latest edition of the Capriole Newsletter that Bitcoin could copy gold’s explosive bull move in the 1970s and if that happens, Bitcoin could soar past $6...