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Two key BTC supply metrics show conflicting signals on whether a retracement will occur before the Bitcoin halving. Bitcoin (BTC) is at 17-month highs with just 164 days until the next Bitcoin  halving event, alongside anticipation of a spot Bitcoin exchange-traded fund (ETF) approval in the coming months. Yet, amid Bitcoin’s 106.38% year-to-date gains, the stablecoin supply rate oscillator (SSRO) has raised a major flag despite suggesting the beginning of a new bull cycle. Stablecoin buying power weakens ahead of Bitcoin ETF This stablecoin supply ratio metric, which acts as an important measure of the dominance of stablecoins vs. Bitcoin, has surged to a new all-time high at 4.13 on Oct. 25, according to data from Glassnode. Such a surge hints at a significant appetite for Bitcoin accumulation on-chain. The SSRO hit a new all-time high at 4.13 on Oct. 25. Source: Glassnode However, this also suggests that the purchasing power of stablecoins is at a relative all-time low. Historica...

On Oct. 30, Bitcoin (BTC) mining difficulty increased by 2.35%, setting a new all-time high. This is the fourth increase in a row, according to BTC.com. At the time of writing, Bitcoin mining difficulty is 62.46 T. The average Bitcoin hashrate (the total computing power of equipment mining cryptocurrency) at the current difficulty is expected to be 449.68 EH/s, the maximum value. The previous maximum average hashrate was recorded at 436.89 EH/s on October 16. Source: BTC.com The last change in the indicator occurred on Oct. 16. At that time, x difficulty reached 61.03 T. The next change in mining difficulty will tentatively occur on Nov. 13, 2023. The forecast is an increase of 0.39%, according to BTC.com. The increase in the difficulty of mining and the hashrate of the Bitcoin network suggests that more and more miners are joining the mining of the first cryptocurrency. At the same time, the price of Bitcoin has increased by 108% since the beginning of the year, from...

Analysts recently debated whether or not the Bitcoin halving is still a meaningful catalyst for BTC’s price discovery. A recent panel at the Swan Pacific Bitcoin festival was cleverly titled, “Are halving price cycles bullshit?” Throughout the discussion, host and founder of the Bitcoin Layer Nik Bhatia asked Marathon Digital CEO Fred Thiel, Swan CIO Ralph Zagury and Swan product manager Andy Edstrom to share their thoughts on whether the Bitcoin halving is truly a bullish event or just another narrative that novice investors buy into.  While the panel’s headline might be offputting for some, the inquiry is of great interest to all manner of Bitcoin (BTC) and cryptocurrency investors. The conventional belief held by many in the space is that the Bitcoin supply halving is a bullish phenomenon that when complete, is followed by near parabolic upside in BTC price. Go and ask any Bitcoin lover about what they’re most excited about in the next year and if they don’t mention the chance ...

Analyst’s Take on Bitcoin Price Bitcoin remains the largest cryptocurrency by market capitalization and it is also known as one of the tokens with the most unpredictable volatility. Drawing on the current price action of Bitcoin , renowned market analyst, known on Twitter as CrediBULL Crypto reassured his more than 341,000 followers that the price of the premier digital currency is now stable around the $29,000 to $30,000 price range. advertisement Update to the $BTC idea/video from yesterday: Now that we have cleared the local supply zone where I said we should be cautious, I'm once again bullish on LTF as well. If this is an impulsive move and the start of our accelerated move to new all time highs, we should hold the… https://t.co/PkKF0RNhQw pic.twitter.com/X6dIMJLXlK Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List ...