Every bull market witnesses periodic pullbacks, where the weaker hands sell anticipating a top and the stronger hands accumulate for the long term. Data from Coinbase Pro shows two large Bitcoin (BTC) outflows this week, suggesting that institutions are likely continueing to buy the current dip. Comparing historical data, on-chain analytics resource Whalemap, recently said that previous macro tops in Bitcoin in 2017 and 2019 coincided with thousands of large Bitcoin transactions worth $5-7 million. However, the researchers believe there is “no such FOMO in sight for BTC.” JPMorgan strategists Joyce Chang and Amy Ho recently endorsed a 1% allocation …

Institutional investors continue to pour money into the crypto sector even with the current dip below $45,000. On Feb.24, business intelligence firm MicroStrategy announced that it had recently purchased over $1 billion worth of Bitcoin (BTC) at an average rate of $52,765 per coin. This takes the company’s total holding to 90,531 Bitcoin. Another company that bought Bitcoin during the current market correction is Square. The company said it had acquired roughly “3,318 Bitcoin at an aggregate purchase price of $170 million.” These purchases by institutional investors show they are bullish on the long-term prospects of Bitcoin and believe that …

Chainlink has launched a major upgrade for its oracle network, dubbed Off-Chain Reporting, or OCR. The upgrade was announced on Wednesday, though the implementation has been live for some time already. OCR changes how data across multiple sources is joined together by the oracle network. Previously, the process of aggregating different readings of the same desired input — for example, a token’s price — was done on-chain. Chainlink nodes would submit their individual readings of the data, which would be verified by a smart contract on Ethereum and other blockchains. This approach, while guaranteeing the reliability of the data, was …

Bitcoin (BTC) price finally reached a $1 trillion market capitalization on Feb.19, which is an important milestone because as BTC gains size, the digital asset will continue to attract new institutional investors who will consider allocating a portion to their portfolios. Glassnode data suggests that high-net-worth individuals are continuing to pump money into Bitcoin. The number of Bitcoin addresses holding more than $1 million worth of Bitcoin has risen to 94,000. According to data from Whalemap, another positive sign is that the number of addresses holding between 1,000 to 10,000 BTC has been increasing throughout the current bull run, whereas …

Bitcoin (BTC) is gradually gaining ground on gold, the traditional store of value. Data shows that one ounce of gold can only buy 0.0352 Bitcoin as of Feb. 17, the lowest amount of BTC ever. This shows that Bitcoin has been rewarding its investors much more than gold. Bitcoin has massively outperformed gold over various time frames. Even if the latest one-year data is considered, Bitcoin’s risk-adjusted return is 270%, while gold's is only 24% as of Dec. 28, 2020. The result further skews hugely in favor of Bitcoin if longer time frames of four years or eight years are …

A large part of the current crypto bull run has been driven by institutional demand. But for the first time, the institutions may be stepping back. According to CryptoQuant, the Coinbase Premium Index — the difference in Bitcoin’s (BTC) price on Coinbase Pro and Binance — has turned negative, which suggests that pro traders may be taking profits. The institutional selling needs to be monitored closely because roughly 3% of the Bitcoin in circulation is held by these investors. If they start to dump their positions, that could result in an exodus by other traders, leading to a sharp pullback. …

To the observant cryptocurrency enthusiast, the sight of multiple large-cap tokens more than tripling their value since November 2020 is a healthy sign that a bull market cycle is underway. Aside from a breakout in the price of Bitcoin (BTC), Ether (ETH) and altcoins, every bull market in the crypto sector is defined by one or two key themes that emerge as the driving force of market enthusiasm. In 2016-2017 there were ICOs, the growing popularity of collectibles like CryptoKitties and the widely held belief that blockchain was a solution to every problem in the world. In 2021 it’s clear …

Financial regulators across the world finally seem to be warming up to the idea that cryptocurrencies can trade in tandem with stock markets and also in exchange-traded funds (ETF). On Feb. 11, Canada’s Ontario Securities Commission approved the proposal of a Bitcoin ETF by Accelerate Financial, which marks the first approval of a Bitcoin (BTC) ETF in North America. The Australian Securities and Investments Commission has also softened its stance toward a Bitcoin ETF. ASIC commissioner Cathie Armour said a Bitcoin ETF may get the green light if the particular market has proper rules in place. The approval of Bitcoin …

Some of DeFi’s biggest players have joined forces to launch a new alliance geared towards furthering the education, research and best practices of the nascent industry. The GoodFi alliance, launched by Radix, includes crypto projects Chainlink, Aave, and mStable, as well as digital analytics company Messari. Piers Ridyard, CEO at Radix, told Cointelegraph that GoodFi “enables companies operating in the DeFi space to collectively work to solve the issues facing a wider base, starting with the generally “crypto-engaged” but building to a mainstream audience.” As members of GoodFi, companies can share strategies and communal knowledge for attracting new DeFi users. …

Bitcoin’s (BTC) market capitalization topped $889 billion on Feb. 9, pushing BTC above the value of Tesla and the Russian ruble, according to data from AssetDash. The current rally is longer limited to Bitcoin as several altcoins have been surging in the past few days. This shows the buying interest is broad-based and today the total crypto market cap surpassed $1.4 trillion. While the positive news flow and price rise in most cryptocurrencies may give the impression that the bull run will never stop, traders should be careful because every bull phase witnesses periodic corrections. Another important thing to note …

You could literally hear the Bitcoin (BTC) hodlers cheering from the rooftops as the world's largest whale publically entered the market this week. But as Bitcoin screamed toward $50,000, altcoin hodlers looked on in horror as their portfolios began shrinking in terms of BTC. However, the Elon pump has possibly created a massive buying opportunity for many altcoins on the BTC paired charts. One coin, in particular, has been letting the side down, namely LINK. It seems like only yesterday that Zeus capital got rekt shorting LINK as it pumped from $10 to $20, but this was August 2020, when …

Bitcoin (BTC) broke out to a new all-time high today, buoyed by the news that Tesla has purchased $1.5 billion worth of Bitcoin, according to a filing with the Securities and Exchange Commission. In addition to the Bitcoin purchase, Tesla also plans to offer its customers the option of buying products with BTC. Instead of converting BTC payments to fiat upon receipt, Tesla may decide to add it to its reserves. In addition to Tesla’s purchase, legendary investor Bill Miller also plans to increase his exposure to Bitcoin by investing over $300 million in Grayscale Bitcoin Trust. These purchases by …