A report compiled by non-profit research institute, dGen, has found that European crypto miners believe that the region’s higher electricity prices when compared to China and Russia are offset by political stability, robust regulation, and strong protections. The study also found that many miners based in Europe feel prepared for the Bitcoin (BTC) block reward halving, emphasizing that higher electricity prices have forced many miners to invest in highly efficient technologies. Robust regulation offsets expensive electricity in Europe F2Pool’s global business director, Thomas Heller, stated that “[h]igher electricity prices are offset by smoother business, better regulation, and more protection,” adding …

At 12:40 A.M. UTC time Bitcoin (BTC) price dropped from $9,574 to $8,112 in the course of 15 minutes. The 15.30% drop came after the top-ranked digital asset on CoinMarketCap struggled to reclaim the $9,800 support after falling below the support which formed the base of a bull pennant and was also aligned with a high volume node on the volume profile visible range indicator. Crypto market weekly price chart. Source: Coin360 The unexpected drop is likely to have caught many traders off guard and data from Skew shows that BitMEX hourly liquidations reached $226 million. BitMEX XBTUSD Liquidations. Source: …

Following the Bitcoin (BTC) halving on May 12, traders generally expect the price of the top-ranking cryptocurrency by market capitalization to drop. According to a prominent on-chain analyst, the selling pressure may come from crypto exchanges. Willy Woo, the co-founder of Hypersheet, said that exchanges will likely begin selling their storage of crypto assets composed of trading fees. Typically, exchanges receive trading fees in the form of cryptocurrencies and sell them to cover operational costs. Considering that the crypto exchange market generates 1,200 BTC a day from fees — equivalent to $11.6 million — it may slow down the uptrend …

The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, hit the psychological barrier of $10,000 but immediately rejected. Meanwhile, the sentiment is shifting from fear towards greed as the Crypto Fear & Greed Index is now above 50 for the first time in three months. However, altcoins have been showing weakness across the board. Investors are selling their altcoins to catch the Bitcoin train with the halving now less than three days away. Crypto market daily performance. Source: Coin360 Bitcoin hits the psychological level of $10,000 BTC USDT 12-hour chart. Source: TradingView Bitcoin is showing strength as the …

As Bitcoin (BTC) fast approaches its scheduled third halving, several metrics are now pointing toward positive market sentiment going into this most-anticipated event. The perpetual funding rate turns to positive territory, suggesting a positive market sentiment The perpetual funding rate serves as a useful indicator to gauge overall market sentiment. When the rate is positive, long positions periodically pay short positions and vice versa. Funding rates also tend to correlate with market sentiment, meaning that when the market is strongly bullish or bearish, funding rates tend to be positive or negative, respectively. The perpetual funding rate turned extremely negative during …

As the Bitcoin halving approaches, miners across the world have been forced to make adjustments in order to adapt. The halving will see Bitcoin’s (BTC) production cost double overnight, but luckily the cryptocurrency has been reacting positively to the upcoming event. While almost everyone in crypto is bullish about the event, and with good reason, the path ahead for Bitcoin’s price post-halving is unknown, especially given the coronavirus pandemic and the massive wave of unemployment that has come with it. While it may be a stressful event for holders of Bitcoin, it is even more so for those that have …

With only 2 days left until the block reward halving Bitcoin (BTC) reached $10,000 for the second time in 24-hours. Data from Cointelegraph Markets and CoinMarketCap shows the largest digital asset by market capitalization is struggling to stay above the $10K handle. Crypto market weekly price chart. Source: Coin360 A few hours ago the price lost momentum and the dropoff in purchasing volume broke the pattern of higher lows, causing Bitcoin to drop below the pennant seen on the hourly and 4-hour time frame. BTC USDT 1-hour chart. Source: TradingView After Thursday's 11.81% rally, some traders expected the price to …

Google searches for “Bitcoin halving” have hit an all-time high, far exceeding the spike associated with the previous halving event by 350%. Searches for the Bitcoin (BTC) halving event have reached 100 on Google's normalized scale, indicating their highest-ever value. At the time of the last halving in 2016, this value was at 28. This means that the current level of interest is nearly 360% higher than it was four years ago. Google searches for “Bitcoin halving.” Source: Google Trends. Still a bear market The previous halving, which decreased the block reward from 25 BTC to 12.5 BTC, happened on …

Bitcoin from the Youtube cartoon series “Bitcoin and Friends” shared his feelings on the upcoming halving and a bullish view of his own future. After falling sick briefly after a short trip to Wuhan, the cartoon hero is “alive and kicking.” Bitcoin is looking forward to the halving which will allow him to throw up less Bitcoin – that is how the appearance of new Bitcoin is represented in the show. “Throwing up 12 and a half Bitcoin every 10 minutes really wears down on my throat.” He also ironically commented on the United States rescue plan for the economy, …

The number of active Bitcoin (BTC) addresses just broke an important plateau. If history is anything to go by, this metric may indicate that we’re in for a parabolic bull run. On May 7, the number of active Bitcoin addresses exceeded 1 million for the first time since June 2019, when the price eclipsed $13,000. Prior to that, there have only ever been this many active addresses on the network during the historic bull run in late 2017. Number of Active Bitcoin Addresses. Source: Glassnode Surging interest in Bitcoin The positive correlation between the number of active Bitcoin addresses and …

Hype is steadily building across the wider cryptocurrency community as the looming Bitcoin mining reward halving draws closer. As the world grapples with the heavy economic downturn spurred on by the ongoing global coronavirus pandemic, the value of Bitcoin has been at odds with conventional stock markets. A driving force behind this trend is the halving, which is expected to take place on May 12. The halving event is highly anticipated, as the Bitcoin reward for validating one block will be reduced by half. This is a core deflationary function designed by Bitcoin creator Satoshi Nakamoto. Since the preeminent cryptocurrency’s …

Ahead of Bitcoin’s third halving early next week, the markets have rallied to test the crucial $10,000 zone. While the halving has historically been seen as a catalyst for major shifts toward bullish momentum in the markets, Bitcoin enters this halving amid a global climate of extreme economic uncertainty, and on the back of a nearly 150% gain over less than two months. Cointelegraph spoke to several top crypto analysts to get their take on the current market action. Their answers ranged from wariness to optimism. Some analysts offer a cautious outlook “This Bitcoin halving will certainly be different to …