BTC stays on the fence despite this key crypto twist in traditional finance

Deutsche Bank, one of the largest financial institutions in the world has reportedly launched crypto custody services. While this may be good news for the crypto market, Bitcoin's latest recovery may have something more to it than what meets the eye.

Timeline of Bitcoin

Ethereum might be the king of smart contracts and the world's primary hub for decentralized finance (DeFi) and non-fungible tokens (NFTs) activity but onchain data suggests that Bitcoin is ahead in user engagement, interpreted by the number of daily active users, and network activity is at acceptable, healthy levels, reading from the number of daily transactions confirmed. Bitcoin Leads Ethereum In Daily Active Addresses According to Artemis Terminal data on September 15, Bitcoin, despite being predominantly a transactional layer, enabling the peer-to-peer (P2P) transfer of value between addresses, has more daily active users than Ethereum.

Despite recent headwinds, Bitcoin's (BTC) trajectory to the $27,000 mark appears imminent. The recent shift in Bitcoin's order book has seen bids, or buy orders, outpacing the asks or sell orders.

Crypto Michael, a cryptocurrency analyst in the crypto space, has recently shared some insights on the possible market trend of the Bitcoin (BTC) price before the halving commences. These insights were shared in a video uploaded on the analyst's YouTube channel.

Bitcoin analysts increasingly assert that this cycle's lows in BTC prices have been firmly left behind. One prominent Bitcoin analyst boldly stated, “September is not rektember,” underlining the cryptocurrency's resilience.

A recent study has revealed that Japanese investors are choosing to invest in Ripple's XRP over the world's flagship cryptocurrency, Bitcoin. XRP Over Bitcoin And Ethereum In contrast to the treatment Ripple and the XRP token are receiving in the US, Japan seems more welcoming to the crypto asset, according to a research paper by the Department of Economics and Finance at the City University of Hong Kong.

In a recent YouTube analysis, the pseudonymous crypto strategist DonAlt — known for accurately predicting the 2022 crypto bottom — has revealed his new long position on Bitcoin, sharing his targets and insights on the current market scenario. DonAlt suggests that the current Bitcoin price, hovering around $26,000, presents a potential buying opportunity.

On-chain data shows the Bitcoin profit-taking has risen to a two-month high, which could provide resistance to the BTC surge. Bitcoin Profit-Taking Volume Has Shot Up With The Price Rise According to data from the on-chain analytics firm Santiment, investors have started to take profits following the latest cryptocurrency price increase.

Mark Yusko – the head executive of Morgan Creek Capital Management, a hedge fund – has stated that bitcoin could reach a price of about $300,000 per unit by the time 2028 rings in. Mark Yusko Has High Hopes for Bitcoin Right now, the gold arena has a market capitalization of about $6 trillion.

A closely followed crypto trader says Bitcoin (BTC) is showing significant strength despite concerning developments in digital assets. Pseudonymous trader Altcoin Sherpa tells his 196,300 followers on the social media platform X that Bitcoin could reach $28,000 and beyond on its current rally despite what could be considered negative news for crypto.

In a significant move amid the global expansion of cryptocurrency companies, Bull Bitcoin, a Canadian Bitcoin exchange, has announced its entry into the Costa Rican market. Bull Bitcoin has achieved a milestone by becoming the first Bitcoin enterprise to leverage SINPE Movil, the primary payment provider in Costa Rica, to offer a Bitcoin on-and-off-ramp service.