Bitcoin’s value surged by 7.5% as the year began, reaching an impressive $45,900. This notable upswing was primarily fueled by heightened activity on the Chicago Mercantile Exchange (CME). Intriguingly, the CME’s Bitcoin price soared to about $1,400 higher than that of other exchanges, revealing substantial purchasing pressure. Recognized for hosting cash-settled Bitcoin futures contracts, the […]
Introduction Traditional investors often turn to mutual funds for wealth generation, a practice expected to extend into the crypto market. However, the scarcity of crypto mutual funds in the U.S. prompts the exploration of alternatives. This report outlines the top five blockchain investment alternatives available in 2024. Our Pick: Bitcoin Strategy ProFund (BTCFX) While the […]
Nigerian cryptocurrency analyst Rume Ophi clarified that the recent lifting of the CBN ban would boost Nigeria’s foreign crypto investments and contribute to the employment of local talent in Web3 and the crypto industry. Despite the Central Bank of Nigeria (CBN) lifting restrictions on Nigerian banks facilitating cryptocurrency transactions, the crypto license requirements set by […]
In December, Bitcoin miners achieved their peak monthly revenue for the year, reaching $1.51 billion. Furthermore, this month saw a record-breaking fee collection, with miners securing $324.83 million in onchain transaction fees. Bitcoin Miners Achieve Unprecedented SuccessIn December 2023, a new milestone was reached in monthly revenue generated by Bitcoin (BTC) miners through block discovery […]
BTCUSD Holds Above the $42,000 Threshold BTCUSD holds firm and keeps securing its position above the $42,000 threshold. Despite a robust bullish trajectory from October to early December being restrained beneath the $45,000 resistance level, Bitcoin has resiliently pulled back and maintained a foothold above $42,000. BTCUSD Key Levels Supply Levels: $45,000, $47,570, $50,000Demand Levels: […]
CryptoQuant data shows that Bitcoin miners are actively selling their mined coins at a pace exceeding their production rate. According to the data, miners are capitalizing on the current high price of Bitcoin, which has surged by more than 12% in the last 30 days, according to CoinMarketCap. The data reveals that miner reserves, measuring […]
BTCUSD Drops Before Reaching the $45,000 Resistance BTCUSD drops in price, thereby experiencing a decline, failing to breach the $45,000 resistance level. Despite encountering resistance during its initial attempt in early December, where it faced an immediate rejection and dropped to $40,200, subsequent efforts to approach this significant level were met with a similar outcome, […]
MicroStrategy, a prominent software company specializing in business intelligence solutions, has reaffirmed its commitment to Bitcoin (BTC) with a substantial investment. On Wednesday, the company disclosed the acquisition of 14,620 BTC, valued at approximately $615.7 million. This move elevates MicroStrategy’s total Bitcoin holdings to an impressive 189,150 BTC, worth around $5.9 billion. Michael Saylor, the […]
INTRODUCTION The cryptocurrency market cap doubled in 2023, signalling the end of its “winter” and a significant transition. While positive, it’s premature to label it a victory over sceptics. Despite hurdles, the past year’s developments defy expectations, affirming crypto’s permanence. Now, the challenge is to capitalize on the moment and innovate further. Theme 1: Bitcoin […]
