Bitcoin Whales Are Back to Accumulating Despite Price Plunge





Bitcoin has not performed as favorably as the community hoped it would, in recent times. The network’s third halving took place on May 11, and now, block rewards have dropped from 12.5 BTC to 6.25 BTC. Even with the event, Bitcoin is yet to spike as expected. However, recent data has revealed that Bitcoin whales are still heavily accumulating.

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Why The Post-Halving Miner Capitulation That’s Underway May Ignite A Meteoric Bitcoin Rally





Bitcoin miners have been on a wild roller-coaster ride in the past few weeks. After the halving on May 11, the rewards they receive were slashed by half from 12.5 BTC per block to 6.25 BTC. As a result, most of the miners using older model mining machines were forced to shut them down as they were registering meager profits. This resulted in a substantial drop in the hashrate.

With bitcoin recently slipping below crucial $9,000 level, fears of a further dive have been renewed. A possible sell-off might discourage new investors from entering the bitcoin market. However, Charles Edwards, a digital asset manager at Capriole, sees the miner capitulation as an opportune time to buy bitcoin at low prices before the next bull market.

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Bitcoin Slumps Below $9,000 to 2-Week Lows But A Bounce Might Be Underway




Bitcoin bulls are clearly losing steam as bears have been able to break below $9,000 and the daily ascending channel. They also managed to break the 26-EMA support but the volume for the bears is concerning.

Considering they managed to break below crucial support levels, the bearish continuation hasn’t been that strong, and volume has continued declining. Bulls can still see a daily equilibrium formed if they can hold the $8,117 support.

The short-term is definitely in favor of the bears but it’s not a clear downfall for Bitcoin just yet. According to recent statistics, the number of addresses holding Bitcoin has continued to grow further confirming the narrative about people accumulating Bitcoin.

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Wall Street Is Buying Vast Amounts Of Bitcoin Despite Goldman Sachs’ Anti-Crypto Attitude



Wall Street is accumulating bitcoin (BTC) at a rapid clip, disregarding what skeptics like Goldman Sachs have to say.

A new report has revealed that institutional investors have bought a lot of BTC since its halving on May 11. Approximately 12,337 BTC has been minted since the halving, but over the same timeframe, Grayscale Investments has purchased close to 19,000 bitcoins on behalf of its institutional clients.

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Why Bitcoin’s Next Major Retracement Could Be Months Away





Bitcoin has been in a strong uptrend for around 2 months but has been stalling recently. The digital asset is currently ranging between $9,000 and $10,000 while its trading volume continues shaking every day.

Bitcoin is now in a daily equilibrium pattern but the range is still too wide for a breakout to occur. According to a recent report, Grayscale Trust Fund is currently buying more Bitcoin than is being mined since the 2020 halving.

Basically, Grayscale is buying up all the new Bitcoin supply and some more, according to the report provided by Kevin Rooke, Grayscale is buying BTC at a 1.5x rate of BTC mined. There is a clear growing interest in Bitcoin even though its price has been inert for quite some time.

It seems that institutional investors and trust funds are accumulating Bitcoin at an increasing rate. A bullish sign especially considering that the digital asset has shown signs of instability recently.

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Cardano’s Charles Hoskinson Announces The Dates For Shelley As ADA Price Surges 14%





Charles Hoskinson, the CEO of IOHK, the company behind Cardano (ADA) has revealed dates for the long-awaited Shelley. In the latest development update, Hoskinson shared 11 dates for the Shelley rollout plan.

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Ripple Exec: XRP’s low fees, reliability, and speed make it ideal for arbitrage trading





Recently, Breanne Madigan, head of global institutional markets at Ripple, explained how XRP could be a well-suited means for arbitrage trading:

XRP as we now know it first saw the realm in 2013. Although the company itself, Ripple Labs, Inc. has been around since 2012 under the name of OpenCoin, it was only three years later that it was rebranded as Ripple Labs. The following year, 2016, it obtained a virtual currency license, and that symbolized the start of XRP’s actuality.

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Ethereum Nears $250 After Massive Weekend Jump — How Close Is $300?






Ethereum has enjoyed massive gains throughout the weekend. The altcoin went into the weekend trading within range after the moderate end of week gains. A break above this $210-$215 range at the start of the weekend, has led to parabolic action. Now, trading around $245, the digital asset is nearly reaching its short term target of $250 from which the bulls expect resistance.

This move comes as no surprise given recent price indicators and heightened activity around the digital currency. For starters, the token has been in a major accumulation phase for the last few weeks. On the project, just days ago, network usage reached a new all-time high.

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