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* Latest * Bitcoin * Ethereum * Exchange Ad * Coinbase * Language * Spanish * Japanese * Korean * Hindi * Contact * About Us * Contact Us * Advertise with us * Our Authors Connect with us * * * * * * AMBCRYPTO WITH BITCOIN [BTC] ABOVE $20,000, IS A SLOW RECOVERY ON THE CARDS THIS TIME * Latest * CoinFlex addresses ‘extreme market conditions’ using this solution * Terra Classic spiked 17.63% in last 24-hour; reason might comfort you * Voyager, 3AC, BTC, USDC in loan; default- Everything unexpected * Tron [TRX]: The true significance of 7 million transactions over the last 24 hours * Up by 48%, should the DeFi Pulse Index thank UNI instead * Bitcoin * The lowdown on 3AC: Is the market bracing for another crash * With Bitcoin [BTC] above $20,000, is a slow recovery on the cards this time * Bitcoin [BTC]: Miners may be capitulating, but is that all there is to it * Is Bitcoin [BTC] doing enough to allure deeply-affected miners * Bitcoin: On-chain metrics to consider in this bear cycle before going… * Ethereum * Ethereum sees the highest P/L ratio in 5 weeks, thanks to… * Uniswap: Why there’s more to UNI than just a 55% surge last week * Ethereum 2.0, active addresses, transactions- Untangling the metric talks * Ethereum’s [ETH] momentum towards equilibrium position could mean… * Ethereum investors should know this reasoning behind ETH’s crash in June * Exchange Ad * Coinbase * Language * Spanish * Japanese * Korean * Hindi * Contact * About Us * Contact Us * Advertise with us * Our Authors BITCOIN WITH BITCOIN [BTC] ABOVE $20,000, IS A SLOW RECOVERY ON THE CARDS THIS TIME Published 2 days ago on June 27, 2022 By Kanav Jain Source: Pixabay Bitcoin [BTC] has once again become the talk of the town especially after its latest recovery in the crypto market. After going below $18k, there was speculation of a further dip in BTC prices. But it has held on since and has even launched a massive recovery to $21,500. One of the pains of the current crypto market situation is the volatile nature of assets. Bitcoin, itself, has gone through waves of volatility in the past few months. Retail failures in the crypto sphere have prompted the market to fluctuate with Terra, 3AC, and Celsius leading the charge. But latest data suggests a strong recovery is on the horizon as we edge towards July. HODL ON! BTC is currently trading at around $21,400 with no significant changes during the past day. However, it has shown a bullish curve over the past week with a 16.4% leap after the latest ‘crypto winter’. There are some interesting developments observed in BTC data that suggests a mixed prediction for Bitcoin’s immediate future. Firstly, Bitcoin’s supply on exchanges has dropped to its 2018 levels. As per data from Glassnode, the BTC supply on centralized exchanges crossed 2.4 million in March 2018 and has never dipped below this. However, since the Celsius and Babel announcements on 13 June, there has a steep increase in exchange outflows. In their respective announcements, these exchanges also decided to freeze withdrawals on user accounts. Historically, exchange outflows and low supply on exchanges have been bullish signs for Bitcoin. Source: Glassnode As per a Glassnode tweet, the number of addresses holding 10K+ BTC just touched 100. This is another bullish signal suggesting rampant accumulation. Source: Glassnode However, there are mixed signal for investors in the market. The trading volume of BTC has dropped to 27% in the past day. This can potentially affect the BTC prices in the near future. Another worrying issue is miners selling their holdings. SO, WHERE DOES BITCOIN GO FROM HERE? Despite the ongoing mixed signals in the market, few prominent members of the crypto community remain bullish on cryptocurrencies despite the recent slump. Venture capitalist, Tim Draper stated that Bitcoin would hit a whopping $250,000 within a year. Furthermore, Fred Ehrsam, Co-founder of Coinbase, recently tweeted about the same. Read the best crypto stories of the day in less than 5 minutes Subscribe to get it daily in your inbox. Please select your Email Preferences. The Daily Digest The Weekly Digest Related Topics:BitcoinBTCBTC whalesfeatured-main Up Next Polkadot: Can DOT dare to dream of bull run amid growing investor interest? Don't Miss Ethereum sees the highest P/L ratio in 5 weeks, thanks to… Kanav Jain Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society. YOU MAY LIKE The lowdown on 3AC: Is the market bracing for another crash Bitcoin [BTC]: Miners may be capitulating, but is that all there is to it Avalanche [AVAX] traders can check these metrics before going short Is Bitcoin [BTC] doing enough to allure deeply-affected miners Bitcoin: On-chain metrics to consider in this bear cycle before going… Bitcoin [BTC]: Assessing how deep are we into the bear market Click to comment LEAVE A REPLY Cancel reply Your email address will not be published. Required fields are marked * Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ * * * * * * * News * Press Release * Terms and Conditions * Privacy Policy * Contact Us Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.