Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets.Institutional interest in Grayscale dries upOn Sep. 23, the $12.55 billion closed-end trust was trading at
A Bitcoin (BTC) on-chain indicator, which tracks the amount of coin supply held by long-term holders (LTHs) in losses, is signaling that a market bottom could be close.Eerily accurate Bitcoin bottom punditAs of Sept. 22, approximately 30% of Bitcoin’s LTHs were facing losses due to BTC’s decline from $69,000 in
In addition to a 0.75% basis point hike, the Federal Reserve also set its 2022 target interest rate at 4.4%, leading Bitcoin analysts to forecast further downside for BTC. 3479 Total views 40 Total shares Bitcoin (BTC) retreated and reversed its intraday gains after the Federal Reserve announced its third
Bitcoin (BTC) underwent a weak rebound on Sept. 21, and the U.S. dollar jumped to a new yearly high as investors await Sept. 21’s Federal Open Market Committee’s interest rate decision.BTC price holds $19K ahead of Fed decisionBTC’s price has managed to cling on to $19,000 with a modest daily
A sequence of macro warnings coming out of the Goldman Sachs camp puts Bitcoin (BTC) at a risk of crashing to $12,000.Bitcoin in “bottom phase?”A team of Goldman Sachs economists led by Jan Hatzius raised their prediction for the speed of Federal Reserve benchmark rate hikes. They noted that the
Ethereum’s native token Ether (ETH) has been forming an inverse-cup-and-handle pattern since May 2021 on the weekly chart, which hints at a potential decline against Bitcoin (BTC). ETH/BTC weekly price chart featuring inverse cup-and-handle breakdown setup. Source: TradingViewAn inverse cup-and-handle is a bearish reversal pattern, accompanied by lower trading volume. It typically
Bitcoin (BTC) has rebounded by 20% to almost $22,500 since Sep. 7. But bull trap risks are abound in the long run as Elon Musk and Cathie Wood sound an alarm over a potential deflation crisis.Cathie Wood: “Deflation in the pipeline”The Tesla CEO tweeted over the weekend that a major Federal Reserve interest
Ethereum’s native token Ether (ETH) shows the potential to log major gains versus Bitcoin (BTC) with the ETH/BTC pair nearing yearly highs. Ether paints classic bullish reversal patternThe bullish cues come from a classic technical pattern called the inverse head and shoulders, which develops when the price forms three troughs below