After Bitcoin’s (BTC) capitulation on May 19 and the pullback on May 20, the next big question on everyone's mind is whether the correction is over or will the downtrend resume. Let’s study the supply and demand picture to gain more insight. Chainalysis chief economist Philip Gradwell pointed out that whales who had purchased more than 1,000 Bitcoin after 2017 added 34,000 Bitcoin to their holdings on May 18 and 19. This suggests the whales bought during the crypto meltdown. Additional on-chain data also suggests that the huge spike in over-the-counter Bitcoin outflow is a signal of accumulation by institutions …

The ripples created by the cryptocurrency market crash, which saw $1.1 trillion evacuate the global market capitalization in a matter of days, continued to reverberate on Thursday as a majority of coins experienced notable rebounds. After losing 64% of its value since May 12, when it fell from $40.50 to $14.43, the multipurpose blockchain project Waves experienced a 95% bounce for its native WAVES token earlier on Thursday. WAVES' price climbed to $28.09 shortly prior to publication, in effect paring the coin’s weekly losses to just over 25% for the time being. Internet Computer, a recent entrant to the top …

Bitcoin’s (BTC) massive bloodbath on May 19 resulted in panic selling across the board. Several major altcoins nosedived between 25% to 50% during the day. The extent of the fall shows that many large traders may have dumped their positions and leverage traders may have been roasted. In a report to its clients on Tuesday, JPMorgan Chase analysts pointed out that institutional investors were abandoning Bitcoin in favor of gold. Considering the volatility ratio of Bitcoin to gold, JP Morgan believes Bitcoin’s current fair value is $35,000. The massive fall today is likely to scare several institutional investors and delay …

The global cryptocurrency market capitalization lost in excess of $350 billion overnight leading into Wednesday as Bitcoin (BTC), Ether (ETH) and a majority of the altcoin market lost between 15% and 30%. Tuesday night’s plunge leaves the global market cap more than $750 billion worse off than it was this time last week. That figure equates to 30% of the $2.5 trillion peak reached by the combined market cap one week ago on May 12. Bitcoin lost 15% on the day as the coin price sank from $45,632 to $38,787 in a matter of hours. That takes the coin’s weekly …

Elon Musk and COVID-19 have something in common: They have both panicked investors — at least once — into dumping their Bitcoin (BTC) holdings. The similarities notched up higher in the previous six days as Musk doubled down on his chaos-inducing perspective toward Bitcoin. The billionaire entrepreneur engaged in a Twitter spat with top cryptocurrency advocates over the weekend, including podcaster Peter McCormick, as he projected his favorite token, Dogecoin (DOGE), as superior to Bitcoin. Obnoxious threads like this make me want to go all in on Doge — Elon Musk (@elonmusk) May 16, 2021 At one point in time, …

Bitcoin (BTC) plummeted to an intraday low near $42,000 today, dropping 35% from its all-time high at $64,849.27. Over the weekend the selling intensified as news that Tesla may have sold its Bitcoin holdings made waves, and even after this was proven to be untrue, Bitcoin’s market dominance had still been pulled down to a three-year low below 40%. While this decline in Bitcoin may have scared new investors, stock-to-flow creator PlanB said the performance of the current bull phase is still better than the 2017 bull run. PlanB also warned investors to expect several 30% dips during Bitcoin’s climb …

Shiba Inu (SHIB) has been the talk of the cryptoverse and mainstream media recently. It is a meme coin themed around the Shibu Inu dog, a Japanese dog breed that Dogecoin (DOGE) is also basing its image on. According to data from CoinMarketCap, SHIB hit its all-time high of $0.0000388 on May 10 after it surged more than 2,500% from trading at $0.00001478 on May 7. The token has now been listed on most of the major exchanges, such as Binance, Coinbase, FTX, OKEx and even Binance’s Indian counterpart, WazirX. It had also briefly broken into the top 20 cryptocurrencies …

Bitcoin (BTC) is nearing $40,000 this week as “Dogefather” Elon Musk deals out pure pain to hodlers — what’s next? After a traumatic weekend for many crypto investors, Monday is setting the stage for the next chapter in the wild 2021 bull market. Cointlegraph takes a look at five factors that could shape what Bitcoin and altcoins do next. Musk tweet hits key Bitcoin technical level It’s all about one man yet again this week: Elon Musk. In characteristic fashion, the Tesla and SpaceX CEO caused uproar on Twitter when he came out bearish on Bitcoin. BTC/USD sold off immediately …

Ethereum co-founder Vitalik Buterin has burned nearly half of the supply of the popular Dogecoin (DOGE) clone Shiba Inu (SHIB). In a statement embedded into the transaction on Sunday, Buterin explained why he had decided to burn $6.7 billion worth of SHIB tokens, emphasizing the “generosity” of the “dog token communities.” “I’ve actually been impressed by how the dog token communities have treated the recent donations! Plenty of dog people have shown their generosity and their willingness to not just focus on their own profits but also be interested in making the world as a whole better. I support all …

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin loses 6% in an hour after Tesla drops payments over carbon concerns Already losing dominance in the crypto rankings as altcoins were gaining strength, things went from bad to worse for Bitcoin this week as Elon Musk made a shock announcement. On Twitter, the billionaire CEO declared that purchases of Tesla cars using BTC …

Strategic investor Lyn Alden is convinced Bitcoin has still the potential to reach $100K in the current bull cycle — despite growing uncertainty and increasing volatility. “We are seeing a lot of froth throughout the industry”, she said, referring to the latest rally in a number of meme coins such as Doge. “Those are kind of warning signs for the cycle”, she added. Alden said that with the bull run slowing down and growing risks of a correction, it makes sense for some investors to take some money off the table and put it into some other assets. “For people …

Bitcoin (BTC) continues to look for direction, but as this occurred, Ether (ETH) and altcoins bounced higher from the Thursday sell-off. Dogecoin (DOGE) shocked investors with its 47% rally that kicked off after Coinbase announced that it would list DOGE in the coming months. DOGE’s price also rallied after Elon Musk tweeted that he was “working with Doge devs to improve system transaction efficiency. Potentially promising.” While many altcoins have seen double-digit gains during the recovery, the price of Bitcoin has continued to languish near the $50,000 level as whale wallets containing at least 1,000 BTC have declined by 4.7% …