Bitcoin Is 86% On The Way To Halving: How Previous Cycles Looked Like Here
Submitted by Anonymous (not verified) on Mon, 10/09/2023 - 18:40Bitcoin is now 86% through on the path toward the next halving.
Bitcoin is now 86% through on the path toward the next halving.
Data shows the Bitcoin mining hashrate has hit another all-time high as miners continue to believe in the cryptocurrency.
Data shows that the last time the Ethereum transaction fees dipped towards lows this deep, the cryptocurrency’s price reached its bottom.
On-chain data shows Ethereum has observed a large exchange outflow recently, a sign that buying may be going on in the market.
Data from Glassnode shows the demand for Lido Staked Ethereum (stETH) has observed a sharp 142% growth since May 2022.
On-chain data shows more than 50% of the Bitcoin supply in circulation has remained dormant since at least five years ago.
Bitcoin has dropped to $27,500 today as on-chain data shows Kraken’s cryptocurrency exchange has received its largest deposit since 2018.
Data shows the Bitcoin rally above the $28,400 level has triggered $110 million in liquidations across the cryptocurrency futures market.
Bitcoin has broken above the $28,000 mark as on-chain data shows the key BTC wallets have been accumulating during the last few weeks.
On-chain data shows that large Chainlink holders have been buying during the past two weeks, a sign that’s positive for the coin’s rally.
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