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Bitcoin L2 Solutions Witness Decline, Lackluster Demand Despite Surging Transaction Fees
17.12.2023
On Saturday, December 16, the cost of transacting in bitcoin eclipsed its previous peak from May 8, 2023, surging past $40 per transaction. The trend of escalating onchain fees began on the final day of October, steadily increasing thereafter. Numerous crypto proponents foresaw this spike...
Bitcoin Transaction Fees Soar to $40, Sparking Debate and Push for L2 Solutions Amid Mempool Backlog
16.12.2023
On Saturday, Dec. 16, 2023, Bitcoin’s transaction fees spike to a high of $40 per transaction at 1:48 p.m. Eastern Time. The jump in onchain fees surpassed the high reached on May 8, 2023, when the average transfer cost topped $31 per transfer. Skyrocketing Bitcoin Fees Surpass $40 Bitcoin...
Bitcoin Difficulty Set for Upturn Amid Escalating Hashrate and Soaring Miner Fees
16.12.2023
After the last adjustment that resulted in a slight 0.96% reduction, the upcoming difficulty retarget on Dec. 23, 2023 is anticipated to bring about an increase, eclipsing the previous decline, as the hashrate regains its upward trajectory. The seven-day average hashrate reached a low of...
Bitget Forecasts BTC to Reach $100,000 and ORDI’s Ascent in Next Bull Market
15.12.2023
In a newly published prediction report, Bitget, a leading derivatives crypto exchange, forecasts a vibrant future for the Bitcoin ecosystem, with BTC potentially soaring to $100,000 and the ORDI BRC20 token climbing the ranks in the next bull market. Bitget researchers say this expansion is set...
Bitcoin Celebrates One Year of Ordinal Inscriptions With 48 Million Mark Hit, Signaling Longevity Despite Ongoing Debate
15.12.2023
On Dec. 15, 2023, a significant milestone was achieved in the Bitcoin blockchain world, just a day shy of the anniversary of the first Ordinal inscription. The total count of Ordinal inscriptions has impressively hit the 48 million mark. Despite initial skepticism about their longevity, these...
Bitcoin Technical Analysis: BTC’s Consolidation Phase Signals Cautious Market Approach
15.12.2023
As of Dec. 15, 2023, bitcoin’s price dynamics present a compelling narrative, marked by a blend of bullish trends and nuanced fluctuations. Following the U.S. Federal Reserve meeting on Wednesday, BTC’s price improved but has been in a tight consolidated pattern ever since. Bitcoin...
Bitcoin Transaction Fees Spike Amid Rising Backlog and Relentless Ordinal Inscription Trend
14.12.2023
Bitcoin transaction fees have surged again. On Dec. 6, 2023, bitinfocharts.com reported that the average cost of a bitcoin transaction soared to $27.55. Presently, the average transaction fee hovers around $13.93, alongside a growing backlog of unconfirmed transactions, currently at 249,000 at...
Bitcoin Technical Analysis: Key Indicators Point to a Consolidation Phase
13.12.2023
As of December 13, 2023, bitcoin’s price stands at $41,197, showcasing a dynamic interplay between various technical indicators. The cryptocurrency’s trading journey over the past 24 hours, oscillating between $40,712 and $41,957, highlights a state of cautious optimism among traders....
Bitcoin Developer Luke Dashjr Registers Ordinal Inscriptions Workaround as a Vulnerability
13.12.2023
Luke Dashjr, Bitcoin developer and CTO of Mummalin, has registered a method that allows Ordinal inscriptions to be saved on the Bitcoin blockchain as a code vulnerability. The vulnerability, CVE-2023-50428, states that “datacarrier size limits can be bypassed by obfuscating data...
Bitcoin’s Difficulty Drops for First Time Since September
12.12.2023
The latest figures reveal that on Dec. 9, 2023, at block height 820,512, Bitcoin experienced a 0.96% decrease in its difficulty rating. This decline marks the first since Sept. 19, 2023, interrupting a streak of six successive difficulty hikes. Concurrently, Bitcoin’s total hashrate...
Bitcoin Technical Analysis: Bears Take the Reins Clawing BTC’s Price Back
11.12.2023
On Monday, the valuation of bitcoin experienced a 3.3% decline within the past day, falling beneath the $42K threshold. Currently positioned at $42,224, bitcoin’s valuation is undergoing a marked shift in the cryptocurrency landscape on Dec. 11, 2023, just two days prior to the forthcoming...
CME Group Dominates Bitcoin Futures Open Interest Amidst Speculations of $40K Gap Closing
10.12.2023
Recent data indicates that CME Group maintains its top position in bitcoin futures open interest, holding $5.29 billion, followed closely by Binance with $4.65 billion. A comprehensive analysis of 14 distinct exchanges offering derivatives reveals a combined open interest totaling $40.74 billion...
Jack Dorsey’s Block Launches Bitkey: A New Self-Custody Bitcoin Wallet With No Seed Phrases
9.12.2023
Block, Inc. has recently introduced Bitkey, its innovative self-custody bitcoin wallet, offering a unique approach to bitcoin management. Unlike traditional wallets which rely on passwords or seed phrases, Bitkey utilizes a distinctive 2-of-3 multi-signature mechanism for recovery. Bitkey Wallet...
Bitcoin Technical Analysis: A Lull in Bullish Activity as BTC Enters Consolidation
8.12.2023
As bitcoin stabilizes near $43,654, its market dynamics reveal a mixture of optimism and caution. Oscillators are currently in a neutral to bearish state, and moving averages are indicating a robust buying trend, creating a complex scenario for investors. Bitcoin Presently, bitcoin’s price...
Bitcoin Miner DMG Acquires 4,550 T21 Antminers for $12.1 Million
6.12.2023
DMG Blockchain Solutions, a bitcoin miner and cryptocurrency technology company, announced that the firm has purchased 4,550 T21 Antminer bitcoin miners from Bitmain Technologies. DMG detailed that it paid $12.1 million for the next-generation application-specific integrated circuit (ASIC) miners...
Bitcoin Technical Analysis: BTC Retraces at Formidable $44,500 Resistance Barrier
6.12.2023
As bitcoin’s price hovers between $43,950 and $44,150, a nuanced examination of its oscillators and moving averages reveals a complex picture of its market movements. Despite a bullish run in its 24-hour trading range, oscillators signal caution. Bitcoin Bitcoin’s (BTC) market...
Bitcoin Hits Second-Highest Transaction Day Amid Price Surge, Record Influx of Ordinal Inscriptions
4.12.2023
Bitcoin marked its second most active day for transactions on December 3, 2023, as the cryptocurrency’s value soared past the $40K mark. This surge in activity comes closely after the record-setting day of November 19, 2023, when bitcoin miners validated 710,579 transactions. On Sunday...
Bitcoin Technical Analysis: BTC Breaks $42K Resistance in Latest Bullish Swing
4.12.2023
On December 4, 2023, bitcoin’s price exhibited significant movements trading between $39,409 and $42,155 during the intraday sessions. The crypto asset briefly crossed the $42K zone — a height not seen since the Terra LUNA crash. Bitcoin’s current market capitalization is around $813 billion...
Bitcoin Market-Neutral Bets Offer 10% Return as BTC Tops $41K, Analysts Say
4.12.2023
The "basis trade," a standout in the 2020/2021 bull market, is hinting at a resurgence, one observer said, referring to the rising futures premium
Microstrategy’s Bitcoin Investment Flourishes, Netting $1.6 Billion Profit
4.12.2023
Recent statistics reveal that Microstrategy, a company known for its business intelligence, mobile software, and cloud services, has seen a significant increase of over 30% in its bitcoin investments. The company invested a total of $5.314 billion, with the current value of its bitcoin cache...