Author: Anthony M. Orbison

CryptoQuant’s head chief says Bitcoin’s bull market could already be over — changing his stance from earlier in the month when he said the Bitcoin bull cycle will be slow but “is still intact.”“Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action,” CryptoQuant founder and CEO Ki Young Ju said in a March 17 X post.All signals are currently bearish, says JuJu said that all Bitcoin (BTC) onchain metrics indicate a bear market. “With fresh liquidity drying up, new whales are selling Bitcoin at lower prices,” Ju said. It comes only days after Cointelegraph reported that…

US government cost-cutting csar Elon Musk claims to have found at least 14 “magic money computers” in the federal government with the ability to send money from nothing.Musk said the computers, which exist in several federal departments, including the Treasury, Defense and Health and Human Services departments, can essentially issue payments and send money from nothing.“You may think that the government computers all talk to each other, they’re synchronized, they add up what funds are going where, and it’s coherent and that the numbers you’re presented as a senator are the real numbers,” Musk said in a March 17 episode…

Bitcoin’s nearly $12 billion open interest shakeout earlier this month might be just the catalyst needed for the asset to regain its upward momentum, according to a crypto analyst.“This can be considered as a natural market reset, an essential phase for sustaining a bullish continuation,” CryptoQuant contributor DarkFost said in a March 17 markets report.“Looking at historical trends, each past deleveraging like this has provided good opportunities for the short to medium term,” the analyst said.CoinGlass data shows that on Feb. 20, Bitcoin’s (BTC) open interest (OI) — a metric tracking the total number of unsettled Bitcoin derivative contracts such…

Betters on Polymarket believe it’s now a certainty that the US Federal Reserve will wind down its quantitative tightening (QT) program by May of this year, a move many analysts say could trigger the next leg of the crypto bull market. By March 14, Polymarket’s betting odds that the Fed would end QT by April 30 was 100%, where it remains unchanged at the time of writing.The wager, titled “Will Fed end QT before May?,” has more than $6.2 million in cumulative trading volume.Polymarket users have assigned a 100% probability that the Fed will end quantitative tightening in the coming months.…

Crypto whale tracking on the Hyperliquid blockchain has enabled traders to target whales with prominent leveraged positions in a “democratized” attempt to liquidate them, according to the head of 10x Research.Hyperliquid, a blockchain network specializing in trading, allows traders to publicly observe what type of positions a whale is holding, and since these positions are leveraged, the market can assess the liquidation levels unless an additional margin is added, Markus Thielen said in a March 17 report.Source: 10x Research“This transparency opens the door for coordinated efforts, where groups of traders could intentionally target these stop levels to trigger liquidations,” he…

Bitcoin (BTC), the world’s largest cryptocurrency, emerged as the top performer of the past year. The king coin managed to go from trading at a low of $49,121.24 all the way to its all-time high of $109,114.88. Crossing the $100,000 mark was a prominent milestone for BTC investors. This caused the entire globe to view the market in a different way. But BTC was seen struggling following a recent correction. While the market is adjusting to the asset’s current downtrend, BTC could witness another crash.Also Read: De-dollarization and the Digital Currency Battle: Why Gold-Backed Stablecoins Could Replace the USDPeter Schiff…

Bitcoin (BTC) has undergone its second-largest correction of this bull run, according to analysts at crypto exchange Bitfinex. The correction, from the coin’s all-time high of $109,590 set on Jan. 20 to a low of $77,041 during the week of March 9-15, represents a 30% retracement triggered by selling pressure from short-term holders.In its report, Bitfinex defines short-term holders as those who have bought within the last seven to 30 days. According to the exchange, they have suffered net unrealized losses and are often more subject to capitulation. Bitfinex notes that ongoing outflows from Bitcoin ETFs, which totaled around $920…

Covenant : a usually formal, solemn, and binding agreement.  This word has become one of the most charged words in the Bitcoin space. They’re the best thing since sliced bread. They’re the most dangerous thing since the atom bomb. They aren’t really going to do anything to scale Bitcoin, but they’re neat.  Everyone has a completely different attitude towards them. We have the pro-faction, the anti-faction, the ambivalent faction. To make matters worse, covenant is frankly a very vague term in its description of mature and concrete proposals to the protocol that would be classified as covenants.  The degrees of…

In what is a rather surprising global development, North Korea has reported surpassed El Salvador in total Bitcoin holdings after its most recent $1.4 billion Bybit hack. Indeed, Arkham Intelligence reported that the Lazarus hacker group currently holds 13,518 BTC, more than the governments of the Central American nation and Bhutan.The Lazarus group completed the $1.4 billion theft in February, and it has propelled the nation’s Bitcoin holdings. El Salvador currently holds just 10,635 BTC, while Bhutan holds more than 6,000 BTC. Indeed, both countries have sought to integrate the leading cryptocurrency in their financial operations as a nation.Source: Watcher…

Bitcoin (BTC) has fallen 12% since March 2, when it nearly reached $94,000. Interestingly, during the same period, the US dollar weakened against a basket of foreign currencies, which is usually seen as a positive sign for scarce assets like BTC. Investors are now puzzled as to why Bitcoin hasn’t reacted positively to the declining DXY and what could be the next factor to trigger a decoupling from this trend.US Dollar Index (DXY, left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphUp to mid-2024, the US Dollar Index (DXY) had an inverse relationship with Bitcoin’s price, meaning the cryptocurrency often rose…