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Tag: halving

  • Bitcoin’s $126K Sprint May Be Over — Fidelity Predicts 2026 Slide

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    Fidelity’s top markets strategist has warned that Bitcoin’s October high of $126,000 could mark the top of the current cycle, and investors should be ready for a rough ride in 2026.

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    According to Jurrien Timmer, a notable pullback is possible next year with key support seen in a range of $65,000 to $75,000. That view sits alongside data points and trader commentary that recall past big drops after sharp peaks.

    Cycle Warning From Fidelity

    According to Timmer, Bitcoin’s price history follows a roughly four-year rhythm tied to halvings. Past peaks have been followed by steep corrections of about 70 to 85%.

    For example, after a high of $1,137 in 2013 the price slipped to roughly $230, and the 2017 peak near $14,050 later traded down toward $3,415. Prices surged again after 2021, and that pattern of parabolic advance then sharp retreat has been repeated. Some traders say those falls are tests of patience rather than a sign the story is broken.

    Historical Charts Show Parabolic Moves

    Reports have disclosed that long-term log charts help put these swings in perspective by showing percentage growth across cycles, which can make big-dollar moves easier to read.

    Market action often looks like a rapid climb to a peak, a quick drop, and a long period where prices move sideways and gains feel slow. Those sideways stretches are where many long-term holders are rewarded, though it can take years.

    Galaxy Research has flagged overlapping macro and market risks that make forecasting harder for 2026, and options and volatility trends suggest Bitcoin is behaving more like a macro asset than a pure growth gamble. Galaxy Research is still bullish on a multi-year view and projects a path toward $250,000 by the end of 2027.

    BTCUSD now trading at $89,510. Chart: TradingView

    First Quarter Patterns May Matter

    Based on reports from traders, the first quarter has in past cycles been a period that often supports price stability, although recent years have shown less regularity. Large inflows and treasury buys that could arrive in 2025 might be offset by early-cycle selling from big holders.

    The balance between institutional demand and whale supply will likely show itself in the first half of 2026, making that stretch important for whether historical four-year rhythms hold firm.

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    2026 Could Provide Clues

    If prices pull back into the $65,000–$75,000 area, it would fit the historical correction range and offer a test of market structure. Traders and investors will be watching liquidity, derivatives flows, and how quickly spot buyers step in after any sharp declines. Patience has paid off before; the largest gains came after extended calm, not right after the low was printed.

    Featured image from Unsplash, chart from TradingView

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    Christian Encila

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  • Battle For The Halving Block: Bitcoin Users Spend Record $2.4 Million On Block 840,000

    Battle For The Halving Block: Bitcoin Users Spend Record $2.4 Million On Block 840,000

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    With Bitcoin finally completing its fourth-year halving cycle, many users are aggressively competing for halving blocks, paying exorbitant amounts of fees to mine a single block. 

    Bitcoin Mining Pool Pays Over $2.4 Million In Block Fees

    Earlier today, the 840,000th block was added to the Bitcoin blockchain, triggering the onslaught of the highly anticipated halving event. While the price of BTC did not witness a dramatic change following the halving, transaction fees spiked to unprecedented highs. 

    Amidst the massive competition, a mining pool identified as ViaBTC had successfully mined the 840,000th Bitcoin block. Cumulatively, BTC users had spent a staggering $37.7 BTC in mining fees, equivalent to $2.4 million, recording the highest fee ever paid for a Bitcoin block. 

    According to reports from mempool, after ViaBTC had produced the 840,000th block, the protocol had initiated an automated reduction of miners’ reward by half, from 6.25 BTC to 3.125 BTC per block. In addition to the fees, ViaBTC had received a total payout of 40.7 BTC, valued at approximately $2.6 million, for mining the historic block.  

    While it may seem that Bitcoin miners had thrown caution to the wind by spending over $2.4 million on a single block, the 840,000th block had a major significance within the cryptocurrency space. The historic Bitcoin block is said to hold the first Satoshis, ‘sats,’ the smallest units of BTC following the halving. 

    There are several of these “epic sats,” that appear after the halving event, coveted as a rare collector’s item among cryptocurrency enthusiasts. Some even speculate that these Bitcoin fragments could be potentially worth millions of dollars. 

    Including the hype surrounding these fragmented BTC, much of the competition for the Bitcoin blocks, following the halving has been attributed to the new Runes Protocol which launched at the same time as the Bitcoin halving. 

    Degens Rush To Secure Infamous Rune Tokens

    The Runes Protocol, created by Casey Rodamor, a Bitcoin developer, has sent shockwaves through the cryptocurrency community, as degens are avidly competing to etch and mint tokens directly on the Bitcoin network. 

    While mining pools were mining new Bitcoin blocks, degens had paid over 78.6 BTC valued at $4.95 million to mint the rarest Runes. This exponential surge in fees has been an unprecedented event, highlighting the increased adoption and participation of the Bitcoin network.

    According to reports from Ord.io, a Rune labeled as ‘Decentralized’ was acquired for a fee of 7.99 BTC, equivalent to $510,760. While another titled ‘Dog-Go-To-The-Moon’ was obtained for a fee of 6.73 BTC, worth approximately $429,831.

    Leonidas, protocol developer and host of the groundbreaking Ordinals, a system for numbering “epic sats,” has declared the Runes Protocol a remarkable success as degens have “single-handedly offset the drop in miner rewards from the halving.” He concluded that Runes have significantly impacted Bitcoin’s security budget, potentially playing a major role in ensuring the network’s sustainability.

    BTC price sitting at $63,700 after halving | Source: BTCUSD on Tradingview.com

    Featured image from Watcher Guru, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Lost Treasure Found? Bitcoin Miner Transfers Over $3 Million BTC After 14-Year Dormancy

    Lost Treasure Found? Bitcoin Miner Transfers Over $3 Million BTC After 14-Year Dormancy

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    According to the on-chain analysis platform Lookonchian, a long-dormant Bitcoin (BTC) wallet dating back to April 2010, recently transferred 50 BTC, equivalent to $3.328 million.

    Unraveling The Transaction: An Exploration of Potential Motives

    As reported by Lookonchian, 50 BTC mined over 14 years ago, when each block reward was 50 BTC, was divided into two transactions: 17 BTC ($1.1 million) for one wallet and 33 BTC ($2.2 million) for another.

    The recipient wallet receiving 17 BTC has shown patterns of frequent transactions, possibly indicating its association with a cryptocurrency exchange, particularly Coinbase.

    The analysis further reveals that the Bitcoin sent to this wallet was subsequently merged with funds from other wallets associated with Coinbase, suggesting a possible deposit into the exchange.

    On the other hand, the remaining 33 BTC were transferred to a new wallet. This could indicate that this Bitcoin may have effectively remained within the miner’s control but under a new address, a common practice to enhance transaction privacy.

    Bitcoin Recovery Amid Impending Halving

    This recent activity coincides with Bitcoin’s rebound following a sharp decline that saw its price plummet from over $70,000 to $62,000 over the weekend. However, at the time of writing, Bitcoin is trading at $64,109, marking a 0.5% increase in value over the past 24 hours.

    BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

    This surge in price comes amidst anticipation of the upcoming Bitcoin Halving scheduled to take place in the next 5 days on April 20.

    Notably, the Bitcoin Halving is a programmed event that occurs approximately every four years or after every 210,000 blocks are mined. Bitcoin miners’ reward for validating transactions and securing the network is cut in half during this event.

    When Bitcoin was launched in 2009, the reward was initially set at 50 BTC per block. However, the reward has been halved, reducing the rate at which new BTC is created. This adjustment is designed to control the supply of Bitcoin, making it more scarce over time and ultimately contributing to its deflationary nature.

    Furthermore, recent reports indicate that BTC miners could face losses exceeding $10 billion due to the upcoming Halving event. As Bloomberg reported, this loss could result from several factors, including miners facing intensified competition from AI companies.

    Core Scientific CEO Adam Sullivan noted the tightening availability of power in the US, driven partly by tech giants like Amazon investing heavily in data centers. This competition for resources presents further obstacles for miners seeking affordable power contracts.

    Featured image from Unsplash, Chart from TradinView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Samuel Edyme

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  • Bitcoin Breaches Halfway Mark To $31,000

    Bitcoin Breaches Halfway Mark To $31,000

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    The price of Bitcoin is maintaining an upward trajectory, catching many off guard this weekend. As of now, BTC has surged by 2.4% in the last 24 hours, and sustaining a 13% rally in the last week. At $30,865, according to data by Coingecko, the top crypto is just inches away from reaching the vaunted $31K, a territory it briefly crossed in April 10 this year.

    The $30,000 mark holds considerable significance for Bitcoin, functioning as both a psychological milestone and a technical resistance point. Psychologically, it represents a round number that influences investor sentiment, inspiring confidence when surpassed and raising concerns when it becomes a barrier.

    BTC nears the $31K level. Source: Coingecko.

    Technically, $30,000 historically acts as a level where selling pressure tends to intensify, impacting short-term and long-term price movements. As a result, this price level is closely monitored by traders and investors, making it a critical reference point in the cryptocurrency market.

    The Anticipated Boost: Bitcoin ETF’s Impact On The Crypto Market

    There’s a lot of excitement about the possibility of the U.S. Securities and Exchange Commission allowing a Bitcoin exchange-traded fund (ETF). This could be a big boost for the struggling cryptocurrency market. Mike Novogratz, the CEO of Galaxy Digital, thinks it’s very likely that the U.S. will approve this kind of investment fund for Bitcoin soon. This news could be a major reason for Bitcoin’s price to go up.

    Bitcoin may soon break over its overhead resistance and begin a rapid surge, according to trading group Stockmoney Lizards. They anticipate widespread participation in the ETF and a subsequent surge in the run-up to the halving in April 2024.

    BTCUSD inching closer to the key $31K territory. Chart: TradingView.com

    The financial industry is currently witnessing the active participation of major players such as BlackRock, which manages assets above $10 trillion. These firms are also actively pursuing the approval of their applications for exchange-traded funds (ETFs), thereby creating an environment filled with eager expectation.

    As a result of Bitcoin’s steady ascent, tokens formed by the forking of the alpha coin, namely Bitcoin Cash (BCH) and Bitcoin SV (BSV), had a significant surge of up to 26%, surpassing other altcoins in terms of gains. This surge may indicate a potential manifestation of enthusiasm.

    BTC price action in the last 24 hours. Source: Coingecko

    Prospects Of A Bitcoin ETF In Late 2023 Or Early 2024

    Several industry experts are suggesting that the long-anticipated approval of a spot Bitcoin exchange-traded fund (ETF) could materialize sometime between late 2023 and early 2024. This revelation has sent ripples of excitement throughout the cryptocurrency community and the broader financial world.

    If BlackRock’s spot Bitcoin ETF is approved, Matrixport, a provider of cryptocurrency services, projects that the price of Bitcoin would rise to between $42,000 and $56,000. The community of U.S. registered investment advisors and prospective investment inflows from gold ETF investors form the basis of the extremely optimistic forecast.

    A Bitcoin ETF is a big deal because it makes it easy for regular folks to invest in Bitcoin without needing to deal with all the complicated stuff that comes with digital currencies. It’s like a bridge that connects the regular money world with the wild world of cryptocurrencies, which could help more people get into Bitcoin.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Collection FRAC Lorraine

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    Christian Encila

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