Bitcoin Crypto Signals

2023-12-31 20:16:06 Bitcoin Miners Reach New Heights: December 2023 Rockets to $1.51 Billion in Record Revenue!

In a grand finale to 2023, Bitcoin miners have set the stage ablaze, achieving a historic milestone with a whopping $1.51 billion in revenue for December. This achievement not only outshines the previous peak in May but also highlights the escalating significance of onchain fees in the ever-evolving world of cryptocurrency.

December's Triumph: Surpassing May's $919.22 Million Milestone!

December's stellar performance eclipses the former record set in May, where miners amassed $919.22 million. The grand total, inclusive of an impressive $324.83 million in onchain fees, represents a remarkable 64.27% growth, equivalent to an additional $590.78 million.

December's Surge: 1.64 Times Greater Than May's Record!

Demonstrating the robustness of Bitcoin mining, December's achievement stands 1.64 times greater than May's record. Fueled by the rising importance of onchain fees, Bitcoin reinforces its position as a trailblazer in the dynamic landscape of digital finance.

Skyrocketing Transaction Rates: December's Crypto Skyline!

As per bitinfocharts.com, December's onchain transaction rates have reached unprecedented heights. The average fee rises to 231 satoshis per virtual byte (sats/vB), equivalent to $20.86 per transaction. On December 31, 2023, the median-sized fee is noted at $9.60 per transaction or 106.3 sats/vB.

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2023-12-31 08:50:34 Bitwise's $200 Million Breakthrough: Spot Bitcoin ETF Ready to Ignite the Crypto Sky!

In a dazzling display of crypto prowess, Bitwise is set to rewrite the narrative with an amended S-1 filing to the U.S. Securities and Exchange Commission (SEC), paving the way for the launch of their spot bitcoin exchange-traded fund (ETF). Brace yourself for a crypto spectacle as Bitwise's latest masterpiece, proudly known as BITB, prepares to light up the digital sky.

The $200 Million Extravaganza: A Symphony of Investment Potential!

Bitwise has set the stage ablaze by revealing an undisclosed entity eager to join the crypto orchestra, signaling an interest in acquiring an astounding $200 million worth of shares. These digital treasures will be available through authorized participants or orchestrated transactions via savvy broker-dealers.

Market Marvel: BITB's Impact Echoes Across Social Media Platforms!

The news reverberates across the crypto landscape, catching the attention of Bloomberg ETF analyst Eric Balchunas, who shares his expert commentary on the dynamic social media platform X. The prospect of a $200 million investment injects a surge of excitement into the ongoing crypto conversation.

Bitwise's Guiding Light: Navigating the Crypto Cosmos with Wisdom!

Amidst the fervor, Bitwise acts as a guiding light, reminding enthusiasts that expressions of interest are not binding commitments. The potential investor retains the flexibility to fine-tune their investment strategy, choosing to acquire more, fewer, or no shares at all in this cosmic crypto journey.

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2023-12-30 18:39:29 Indonesian Authorities Clamp Down on Illegal Bitcoin Mining - 10 Operations Halted!

In a resolute move against unauthorized cryptocurrency activities, the North Sumatra Police Force in Indonesia has taken sweeping action, shuttering a network of Bitcoin mining operations spread across 10 locations. The crackdown led to the confiscation of 1,134 Bitcoin mining machines, along with crucial electrical cables and computer equipment.

Irjen Agung Setya Imam Effendi, Chief of North Sumatra Police, alleged that the operators had manipulated electrical circuits to power their extensive Bitcoin mining endeavors. This crackdown underscores the growing global concern over the environmental impact and regulatory compliance of cryptocurrency mining.

This enforcement initiative follows a parallel incident in China, where a government official received a life sentence for facilitating electricity access to a colossal $329 million Bitcoin mining enterprise. Yi Xiao's case highlights the escalating regulatory scrutiny faced by the cryptocurrency industry worldwide.

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2023-12-29 20:51:44 Title: Bitcoin Miners Liquidate $129M in a Day, Reserves Plummet to Lowest Levels Since May

In a decisive move, Bitcoin miners have triggered a significant sell-off, offloading a staggering $129 million worth of BTC within a 24-hour window. This strategic move has driven their reserves to the lowest point since May, revealing intensified selling pressure in the crypto market.

According to CryptoQuant data, miner reserves, reflecting the BTC held in affiliated wallets, have dwindled to 1.832 million BTC. This decline, starting in late October, has culminated in a rapid acceleration this month. The latest figures mark a stark contrast from October's high of 1.845 million BTC held by miners.

Highlighting this trend, AliCharts took to X to underscore the magnitude of the miner sell-off, emphasizing a noteworthy sale of 3,000 BTC in the past 24 hours alone. With Bitcoin currently trading at $42,891, the market is experiencing heightened volatility following yesterday's peak at $43,710.

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2023-12-27 16:16:21 In 2020, just 70 days before the crypto halving, we saw a black swan event with a -60% market crash (-40% in 2015).

Historically, the market often retests its bottom before the halving. After halving no major crash Only Up

Next halving is in 115 days so be prepared for the crash, be it an ETF delay or another black swan.

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2023-12-27 07:15:54 K-Pop for Crypto: South Korea's Bitcoin Craze Hits a High Note!

Hold on tight as the Korea Premium Index (KPI) orchestrates a symphony of market dynamics, revealing the passionate moves of South Korea's crypto enthusiasts!

Brace yourself for the 'Kimchi Premium' extravaganza – a soaring KPI paints the town bullish, reflecting a surge in buying pressure and catapulting crypto prices on local exchanges. The Korean crypto scene is turning heads, and we're here to break down the rhythm of this retail frenzy!

On the flip side, a dip in the KPI hints at a bearish market sentiment, with potential ups and downs in the selling landscape. Are we in for a crypto rollercoaster?

Let's rewind the clock: The 14-day moving average echoes Bitcoin's 2021 peak, adding a sprinkle of nostalgia to the present crypto saga.

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2023-12-26 17:08:51 #BNB - surged by 13% in the last 24 hours, setting a local high above $300. Since CZ's departure in November, #BNB has grown by 32%.

Despite the panic surrounding Binance, little has changed for the exchange, with recent legal resolutions working in its favor by minimizing regulatory risks.

Binance's volumes and active user count still surpass other top exchanges by several times; the ecosystem is thriving, and the expected outflow of funds has not occurred.

Also, consider that the number of projects on BSC is growing daily. While Solana is currently the most popular blockchain for smart contracts, this trend could change in an instant. The next hyped DApp on BSC could spike another pump.

In such conditions, I believe #BNB could show quite promising long-term results during the next bull run.

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2023-12-26 05:30:28 Bitcoin Miners Break Records: 400% YoY Surge in Transaction Revenue in 2023!

In an extraordinary turn of events for the world of cryptocurrency, Bitcoin miners have set a blazing trail in 2023, clocking an astounding 400% year-over-year surge in transaction revenue!

Record-Breaking Revenue: According to Jameson Lopp, Co-founder and CTO of Casa, Bitcoin miners generated revenue surpassing $10 billion in 2023, contributing to a staggering $57 billion amassed over the past 15 years.

HODLing for the Future: Lopp hints at the possibility that miners might not be in a rush to convert Bitcoin to fiat currency. Many miners, he notes, embrace the strategy of "HODLing," holding onto their Bitcoin assets with an eye on potential long-term gains.

Year-End Soars: The numbers speak volumes – in December alone, miners hit a record daily revenue of $64 million, marking an almost 400% increase from the year-to-date value. This surge underscores the flourishing profitability of Bitcoin mining.

Quarterly Triumph: The final quarter of 2023 paints a lucrative picture for miners, with daily mining activity revenue consistently exceeding $33.85 million since December's commencement. Q4 2023 is proving to be a quarter of substantial profit for the Bitcoin mining community.

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2023-12-25 11:54:44 Let's talk about the long-term prospects of #BTC in the context of market cycles

The year 2023, as the first year of a four-year cycle, closely resembles 2016. There were two significant dips, during which Bitcoin provided an opportunity to earn at least 50% in mid-term.

If 2024, as the second year of the cycle, replicates the patterns of 2017, we can expect at least 2 more significant dips in #BTC that should be used for buying.

I've marked these situations on the RSI chart, which is quite convenient for monitoring overbought/oversold state. Historically, RSI has provided reliable signals for buying on a higher timeframes (daily, weekly).

To reiterate: FOMOing at highs is always a bad idea, as you become the exit liquidity for those who bought earlier. Play it smart and practice patience - it will undoubtedly bear fruit.

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2023-12-24 17:31:54 #ETH - while reaching a new yearly high and showing a sustained growth on daily, the coin is displaying modest performance compared to other altcoins. Сombination of factors:

- The SEC has postponed the consideration of applications for an Ethereum ETF from VanEck, ARK Invest, and Grayscale ;
- The hype surrounding smart contracts on Solana has decreased interest in ERC-20 and ecosystem projects on Ethereum;
- Institutional money is currently focused on #BTC.

Despite these challenges, the technical outlook remains strong, with #ETH trading near a trend line of the past year and a half. Buyers continue to dominate the market, with breaking this trend being their top priority.

A sustained move above would confirm the positive scenario, opening up opportunity for long position with a TP around $2760.

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