Bitcoin

According to reports, Adam Back, CEO of Blockstream, a cryptographic infrastructure company, said that Bitcoin is the antimatter of partially provisioned banks, and partially provisioned banks may not be able to survive in the interaction. “Too many people withdraw money to buy Bitcoin, and banks will run out of reserves and fail. No bank can survive a 10% rapid withdrawal.”. Interpretation of this information: The statement made by Adam Back, the CEO of Blockstream, has a controversial and intriguing tone. He states that Bitcoin is the anti-matter of partially provisioned…

On March 17th, the US Commodity Futures Trading Commission (CFTC) said that as of the week ended March 17th, speculators held 41 net long positions in Bitcoin. (Jin Shi) Interpretation of this information: The US Commodity Futures Trading Commission (CFTC) has reported that as of the week ending March 17th, Bitcoin speculators held a net long position of 41. This suggests that investors are bullish about the future of Bitcoin and are willing to bet on its potential price increase. Bitcoin is a decentralized digital currency that was created in…

On March 17th, the Bitcoin based DeFi protocol, Sovryn, launched a 100% Bitcoin supported stable currency, Sovryn Dollar (DLLR), which is aggregated from other Bitcoin supported stable currencies and linked to the US dollar. Interpretation of this information: On March 17th, Sovryn, a DeFi protocol that is based on Bitcoin, launched a completely Bitcoin supported stable currency, Sovryn Dollar (DLLR). This new currency is linked to the US dollar and is aggregated from other Bitcoin supported stable currencies. This move signifies an effort to develop an ecosystem built around Bitcoin…

According to reports, according to data disclosed by blockchain analysis company Glassnode, recently, the price of Bitcoin hovered between several popular and widely observed technical analysis pricing models. After hitting the resistance of the 200 week and 365 day moving averages (about 25.0k) in February, the price hit the 200 day and 111 day moving averages (about 19800) this week and then rebounded. This is the first cycle in history for BTC to trade below the 200 week average, From this perspective, the market is in a new area. In…

According to reports, according to WhaleAlert data monitoring, 1500 BTCs (approximately $39104987) were transferred from unknown wallets to Coinbase. Interpretation of this information: The message above discusses the transfer of 1500 BTCs from unknown wallets to Coinbase. This transfer has been reported by WhaleAlert, which is a data monitoring service that tracks large cryptocurrency transactions across various blockchain networks. WhaleAlert is known for reporting on transactions that exceed certain thresholds, such as transactions that involve more than 10,000 BTCs or equivalent amounts in other cryptocurrencies. In this case, the transfer…

According to reports, Matrixport, a cryptocurrency service provider, said in a report on Thursday that Bitcoin (BTC) benefited from the instability of the financial system, falling inflation made the Federal Reserve less tough, and regulatory excess hit stable currencies. With the persistence of these three trends, the price of Bitcoin may remain high and continue to rise. Investors have now awakened that the Federal Reserve’s interest rate policy has seriously damaged some investment portfolios and threatened the financial stability of the economy. Interpretation of this information: The current global economic…

According to reports, according to Coinglas data, the entire network has sold out 132 million dollars in the past 24 hours. Among them, Bitcoin sold out $68.23 million, Ethereum sold out $23.18 million, and BNB sold out $1.5798 million. Interpretation of this information: The cryptocurrency market has once again shown signs of significant activity as Coinglas data reports that the entire network has sold out $132 million in the past 24 hours. This news could indicate that investors are back on the market and are exploring opportunities in digital currencies…

According to reports, from the beginning of the year to date, even if some banks focused on cryptocurrency fail, or even cryptocurrency exchanges disappear, Bitcoin has surged 50%, surpassing the performance of major global stock indexes and gold, becoming the best performing asset this year. Interpretation of this information: Bitcoin has significantly outperformed other popular investment assets including gold and major global stock markets so far this year. Although some banks that put much of their focus on cryptocurrency have failed and some cryptocurrency exchanges have disappeared, Bitcoin has surged…

According to reports, according to data from Trading View, Bitcoin’s dominant position (BTC’s market share in the entire encryption market) has reached a nine month high of 45.5%. The last time it reached 45% or more was on June 25, 2022. Interpretation of this information: The cryptocurrency market has seen a recent surge in Bitcoin’s dominance reaching a nine-month high of 45.5%, according to data from Trading View. This significant increase is noteworthy as it serves as an indication of how well the top cryptocurrency has performed in terms of…

According to reports, with the listing of Bitcoin futures ETFs on the New York Stock Exchange for six months, Hashdex, a crypto asset management company, has gradually launched spot products. “Spot Bitcoin ETFs are inevitable, we just don’t know when and under what circumstances,” said Marcelo Sampaio, CEO and co founder of the company. Although it is difficult to determine a timetable, he believes that spot ETFs will be authorized by the chairman of the US SEC. （The Block） Interpretation of this information: The news that Bitcoin futures ETFs have…

According to a recent study by the decentralized gaming portal Crypto Betting, El Salvador is reported to be among the countries most interested in understanding Bitcoin and its uses. The study used Google Analytics to examine query behavior and the number of Bitcoin ATMs in each country and found that El Salvador was the second country of interest in the topic. Interpretation of this information: The recent study conducted by Crypto Betting reports that El Salvador has shown significant interest in Bitcoin and its uses in comparison to other countries….

According to reports, 1760 BTCs were transferred from unknown wallets to Coinbase at 13:56 today, with a value of approximately $42.94 million. Interpretation of this information: The message reports the transfer of 1760 BTCs from unidentified wallets to Coinbase at 13:56 today, worth around $42.94 million. The anonymity of the sender wallets creates a degree of ambiguity in the transfer. The move is indicative of the cryptocurrency market’s volatility, with the value of Bitcoin and other cryptocurrencies fluctuating by the minute. The transfer of such an enormous amount of Bitcoins…

According to reports, Michael Novogratz, founder and CEO of Galaxy Digital, said that the United States is facing a credit crunch, and now is the best time to buy gold, silver, and Bitcoin. “In an interview with CNBC, he explained, ‘The United States and the world will face a credit crunch. You should invest in gold and silver… and Bitcoin.’” Interpretation of this information: Michael Novogratz, the CEO and founder of Galaxy Digital, suggested in a recent interview with CNBC that now is the right time to invest in gold,…

It is reported that Xapo Bank, headquartered in Gibraltar and friendly to cryptocurrency, has enabled the payment of sterling and USDC stable currency for its users. Xapo is a licensed private bank and cryptocurrency custodian, focusing on retail customers, and has integrated the flash network of Bitcoin. Seamus Rocca, CEO of Xapo Bank, said: “From today on, we have also added support for sterling through the Faster Payments network, which means that members will be able to pay directly to the UK wallet or bank.” Xapo also activated the USDC…

It is reported that according to BTC.com data, the number of unconfirmed transactions across the Bitcoin network is 25392, the network computing power is 321.13 EH/s, the 24-hour transaction rate is 4.10 transactions/s, and the current network difficulty is 43.55 T. It is predicted that the next difficulty will increase by 4.71% to 45.60 T, and there are 9 days and 11 hours left before the adjustment. Interpretation of this information: Bitcoin is currently experiencing a backlog of unconfirmed transactions, with a total of 25392 pending on the network. However,…

According to reports, Mike Novogratz, founder of cryptocurrency investment company Galaxy Digital, said in an interview with CNBC’s Squawk Box today that the performance of the crude oil market has already told the market that it is entering a depression phase. Jerome Powell (Chairman of the Federal Reserve) should immediately suspend interest rate hikes and then lower interest rates faster than we expected. Now is the time to focus on Bitcoin and cryptocurrency, which is why Bitcoin and cryptocurrency were created. Interpretation of this information: Mike Novogratz, founder of Galaxy…

According to reports, data shows that the 30-day correlation between Bitcoin and European stock markets has fallen below – 0.2, the lowest level in more than two years. In addition, the 30-day correlation between Bitcoin and NASDAQ has fallen to about 0.2, the second lowest level in more than a year (previously below 0.2 in November 2022). Interpretation of this information: The correlation between Bitcoin and European stock markets has been falling for the past 30 days, reaching its lowest level in over two years. This means that the movements…

According to reports, Morgan Stanley stated in a research report that, with increasing concerns about traditional banks forced to close in the United States, this should be a shining moment for Bitcoin, as the holders of the largest cryptocurrency in private wallets should be protected from counterparty risks. Interpretation of this information: Morgan Stanley, a well-known multinational investment bank, recently released a research report highlighting the potential benefits of Bitcoin during times of financial uncertainty. The report suggests that the increasing concerns surrounding traditional banks in the United States could…

On March 15th, data showed that Bitcoin once exceeded 26000 US dollars yesterday, and the daily trading volume of Bitcoin on the centralized exchange exceeded 20 billion US dollars (USDT and USDC trading pairs), hitting a new 4-month high since the FTX crash. Interpretation of this information: The message pertains to the significant surge in the price of Bitcoin, which crossed the mark of $26000 on March 15th. This upswing was accompanied by a notable rise in the daily trading volume of Bitcoin on centralized exchanges. According to the data,…

On March 14, Bitcoin rose more than 11% in the past 24 hours, and its trading price on Tuesday exceeded $24700, recovering all losses on the weekend, hitting a three-week high. Interpretation of this information: Bitcoin has made remarkable progress in the past 24 hours as its trading price on Tuesday rose more than 11%, exceeding $24700. Experts are suggesting that this rebound has been possible due to renewed investor confidence, which was lost after Bitcoin suffered a weekend slump that saw it lose ground to other dominant cryptocurrencies. It’s…