Bitcoin Holders Trigger Largest Capitulation In Its History, Bearish Horizon For BTC?

Bitcoin follows a rangebound trajectory as the financial world trends to the downside. The first crypto by market cap is moving around critical areas of support as it was rejected from the low $40,000s.

Timeline of Bitcoin

On-chain data shows while the price of Bitcoin has continued to struggle recently, miners have shown diamond hands. Bitcoin Miner Reserve Holds Still Amid The Recent Price Consolidation As pointed out by an analyst in a CrypoQuant post, BTC miners have been accumulating for some time now, and the dwindling price hasn't scared them.

On-chain data shows Bitcoin hasn't yet hit a bear market bottom as the supply in profit is still more than that in loss. Bitcoin Supply In Profit/Loss Says A Majority Of Network Is Still In Profit As explained by an analyst in a CryptoQuant post, past trend may suggest that the current BTC market still

The community-driven movie streaming platform, Angel Studios, has recently revealed in a filing with the U.S. Securities and Exchange Commission (SEC) that it purchased bitcoin worth more than $10 million.  In the filing, Angel Studios noted that its bitcoin purchase was part of its plan to diversify and maximize returns on its cash balances.

Legendary investor Warren Buffett is calling out those who think that the US government will allow Bitcoin and crypto assets to proliferate as new forms of money. During the Berkshire Hathaway Annual Shareholder meeting on Saturday, Buffett says that he wouldn't take all the Bitcoin in the world, even if it was offered to him The post Warren Buffett Calls Bitcoin Advocates ‘Out of Their Mind,' Says USD Only Real Form of Money appeared first on The Daily Hodl.

A group of executives from within the Bitcoin industry has written a letter to the U.S. Environmental Protection Agency (EPA) in an effort to debunk myths about the environmental dangers of crypto mining. The letter was in response to a statement from Congress last month calling on the EPA to monitor crypto mining facilities for The post Jack Dorsey, Michael Saylor and Bitcoin Community Pen Letter to Environmental Protection Agency To Refute Myths appeared first on The Daily Hodl.

In a note authored by Michael Saylor, Nic Carter and Darin Feinstein, the Bitcoin Mining Council alleges that lawmakers can't tell the difference between a data center and a power plant.

Popular on-chain crypto analyst Willy Woo has suggested that Bitcoin ($BTC) is seeing unparalleled demand on the spot market coming from institutional investors who are accumulating the flagship cryptocurrency. According to a tweet Woo shared with his over 1 million followers on the microblogging platform Twitter, the price of Bitcoin has been moving sideways because

Bitcoin price analysis is bearish today as we have seen another lower high set at $39,000 over the last 24 hours after a substantial retracement. Additionally, the descending resistance line has been confirmed, indicating that another push lower will follow.

The last few weeks must have been hellish for paper hands who hold bitcoin (BTC). With a decline in the price of the cryptocurrency, the $40k level remained a static resistance level as the coin traded below this level for most of last week.

Though the cryptocurrency market is trading with mixed signals, major cryptocurrencies like Bitcoin, Ethereum, XRP, LUNA among others are trading with a positive price action. Today, after the Bitcoin price battled against bears for several days, it looks to have found the stability with a slight bull run. As the flagship currency finds a recovery …