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Bitcoin Sticking to Descending Trendline?
Bitcoin is trading lower after a brief 5% bounce on Sunday. The cryptocurrency is testing the $35K resistance and could find support around $30K, which is the bottom of a month-long trading range. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Bitcoin Selling Pressure Increasing From Short Term Holders
An increase in bitcoin’s selling pressure is happening in tandem with selling from short-term holders, and specifically, from wallets that have held bitcoin for six months or less. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
BTC at Work on Ethereum?
With bitcoin prices retreating over the past month, crypto traders have increasingly tokenized BTC into synthetic versions compatible with the Ethereum blockchain, where they can be deposited for extra yield on decentralized finance (DeFi) platforms. “All About Bitcoin” host Christine Lee breaks down today’s Chart of the Day.
Bitcoin Hashrate Plunging Amid China Crackdown
The bitcoin hashrate, which stands for the global computing power used to process transactions on the Bitcoin proof-of-work blockchain, is plunging to its lowest level since last November as several provinces in China are shutting down crypto miners. Christine Lee breaks down the data in today’s Chart of the Day.
Why Aren’t More Bitcoin Holders Using Secure Multi-Sig Addresses?
According to data from Coin Metrics and BitMEX, the amount of bitcoin stored in multi-signature wallets has increased 60% since 2018 but has remained flat ever since June 2019. “All About Bitcoin’s” host Christine Lee breaks down the data.
Examining the ‘Consensus Bump’ Phenomenon
According to internal CoinDesk lore, the price of bitcoin jumps slightly before every annual Consensus conference. According to data from this year, it looks like the pattern held, but is it a real phenomenon or just a coincidence? “All About Bitcoin’s” host Christine Lee breaks it down in the Chart of the Day.
Bitcoin’s Recent Sell-Off Nothing New
Bitcoin’s sell-off in recent days may be a rude awakening for newcomers in the digital asset space, but it’s hardly anything new. “All About Bitcoin” host Christine Lee breaks down the data from Visual Capitalist that shows bitcoin’s historical corrections from all-time highs.
Bitcoin Price Plummets to Lowest Levels Since February Following Elon Musk’s Tweets
Bitcoin slipped to about $42,200 Monday, a 3.5-month low, with recovery momentum remaining limited. “All About Bitcoin” host Christine Lee breaks down the data in today’s Chart of the Day.
There’s Now Almost Zero Correlation Between Dogecoin and Bitcoin
Dogecoin has taken on a life of its own. The memecoin used to be correlated with the price of bitcoin, but data gathered by CoinDesk’s research team shows the correlation between the two cryptocurrencies has dropped to nearly zero. “All About Bitcoin” host Christine Lee breaks it down in the Chart of the Day.
Chart of the Day: Bitcoin Mining Consumes Almost The Same Amount of Electricity as Malaysia or Egypt
“All About Bitcoin” host Christine Lee breaks down the chart tweeted by Elon Musk Thursday, with bitcoin’s annualized estimate electricity consumption being approximately 150 TWh, or about the same size consumed by Malaysia or Egypt.