Long-term Bitcoin holders, those who kept their coins for over 155 days, have significantly ramped up selling. Historically, this activity suggests the market may have peaked and could be due for a correction soon, Coinlive reports.
The UK authorities are considering introducing new restrictions on the use of credit to purchase crypto assets. The plan is aimed at protecting consumers' interests.
UK Finance Minister Rachel Reeves has announced plans to introduce mandatory regulation of the cryptocurrency industry. The new rules will equate cryptocurrencies with securities, following the US approach.
Coinotag notes that the current direction of bitcoin creates significant opportunity for both long-term investors and market participants willing to take risks.
Early in the Asian trading session, Bitcoin (BTC) tumbled but managed to hold positions amid concerns regarding macroeconomics.
In the first 100 days of his second term, United States President Donald Trump fulfilled a campaign promise by signing an executive order to create a Strategic Bitcoin Reserve. TheStreet reported that this action formally established Bitcoin as a strategic US asset.
According to Standard Chartered analyst Jeff Kendrick, bitcoin's fall earlier this year will trigger a new rally to $120,000 this quarter amid investors' strategic exit from US assets.
According to Coinotag, bitcoin has now broken through the $94,000 level, gaining momentum after weeks of narrow-range consolidation. The reserve ratio on Binance suggests continued bullish potential for the cryptocurrency.
Bitcoin reserves on crypto exchanges have plunged to a six-year low, hitting just 2.6 million BTC. Since early November, investors have withdrawn over 425,000 coins, opting to secure their holdings for the long term.
On Thursday, major US supervisors decided to lift several restrictions on crypto banking activities. These included the Fed, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Serbia’s Prince Filip Karadordevic claims Bitcoin’s growth is being artificially suppressed by big market players. In an interview with Simply Bitcoin, the royal insisted the cryptocurrency’s deflationary nature will inevitably send its price skyrocketing.
Bitcoin is the first and most commonly used cryptocurrency in the world. It holds a prominent place in the digital economy and draws the attention of traders and investors. High volatility and a wide range of influencing factors make the forecasting of its price complicated and requiring complex analysis.
Successful bitcoin trading is based on analyzing market trends, fundamentals, and technical factors.
Key elements that determine the value of bitcoin include:
Major investors and funds also have a considerable impact on the movement of bitcoin prices. Their massive purchases or sales can cause sharp fluctuations in the exchange rate. In addition, the general sentiment in the crypto market determines the dynamics of BTC, creating periods of high activity and deep corrections.
Forecasting the price of bitcoin is a complex task, as it is formed under the influence of many factors. Successful trading strategies and investment decisions require a thorough analysis of the macroeconomic situation, politics, and investor sentiment.
