Over 483 BTC transferred from unknown wallet to Kraken
According to Whale Alert monitoring, more than 483 BTC (approximately $20,794,713) was transferred from an unknown wallet to Kraken.
Former Goldman Sachs Executive Predicts Bitcoin Could Reach $1 Million by 2025 as Crypto Bull Market Begins
Raoul Pal, a former Goldman Sachs executive, predicts that the current crypto bull market cycle has just begun and could last for years. He believes that Bitcoin could potentially reach a high of $1 million by 2025. Pal compares the current cycle to the 2016-2017 cycle, which saw a huge influx of liquidity and resulted in a significant rise in digital assets. Despite strong rallies at the end of 2023, Pal suggests that the current bull market cycle is in its infancy and there is still a lot of potential for growth.
Bitcoin moves back above $43,000
Bitcoin rebounded above $43,000 and is currently priced at $43,020.59, with a 24-hour increase of 1.08%.
Best of State of the Network in 2023
In this special edition of the State of the Network, we reflect on a year full of riveting data and crucial events through the lens of the research team’s favorite issues from 2023. In the upcoming year, our commitment remains steadfast: to deliver meticulous, actionable insights that empower your decisions in an ever-evolving digital asset world.
6,999 BTC transferred to Coinbase, worth nearly $300 million
According to blockchain data tracking service Whale Alert, at around 21:24 on December 26th Beijing time, a total of 6,999 BTC were transferred to the cryptocurrency exchange Coinbase via 9 transactions from an address starting with "1PWQw", with a total value of approximately $299,158,354.
30,000 BTC transferred from unknown wallet to Binance
Whale Alert monitored the transfer of 30,000 BTC (worth $1,276,294,312) from an unknown wallet to Binance.
Bitcoin is sticking to a well known pattern, will it continue in 2024?
There is one more week to go until the end of the year, but already the situation is very clear. Bitcoin is one of the best performing asset of 2023.
If last year was the year of the correction, this year has been the year of the recovery. As of today BTC is up 165% and it is not even close to having reclaim its all-time high. Also the halving is coming up and you can bet that the BlackRock of the world are pushing hard to get those spot Bitcoin ETFs approved before that.
Skew: The bull market needs more limit spot orders to better push up and take back price control
Skew stated on social media that BTC's cumulative CVD and Delta spot CVD continue to rise, but the price is difficult to maintain at a high level. This situation occurs when the spot buyers appear to sell at a limited price. Therefore, to make the current selling control ineffective, the price needs to recover to $43,000 with sufficient spot bids, which will be a market dominated by spot limit buy orders and buyers. Currently, the spot trading volume on Binance is declining, and the spot receiver's bid for spot CVD is clear. With the decrease in trading volume, the bid increment continues to increase, which means that the bull market needs more limit spot orders to better push up and regain control of the price. So far, the order volume is still greater than the supply.
Bitcoin market value enters top 15 global currencies
Analysis by Bitcoin credit card company Bold, as of December, Bitcoin has successfully entered the top 15 currencies in the world, becoming the only cryptocurrency in the top 20 currencies in the world. According to data from CEIC and CoinGecko, as of November 19, the market value of Bitcoin has reached 732.5 billion US dollars.
Top Analyst Warns of Possible Correction for Bitcoin and Ethereum
According to a popular crypto strategist, Bitcoin and Ethereum may be heading towards a significant correction. The strategist, who uses the Elliott Wave theory to predict future price action, believes that both cryptocurrencies are currently in the midst of an ABC corrective pattern. The analyst suggests that BTC and ETH may be positioning for the last leg down of the pattern, and shares a chart showing BTC potentially pulling back to $39,000 and ETH dropping to $2,000. The strategist advises caution and recommends monitoring the situation over the next few weeks.
Bitcoin open interest exceeds $19 billion
According to Coinglass platform data, the current open position of Bitcoin exceeds $19.3 billion, of which CME accounts for the largest proportion, at $5.27 billion; Binance Exchange ranks second, at $4.427 billion; and Bybit ranks third, at $3.245 billion.
992 BTC transferred from Coinbase to unknown new wallet
According to WhaleAlert monitoring, at around 17:33 Beijing time, 992 BTC ($42,817,103) was transferred from Coinbase to an unknown new wallet.
2023 Bitcoin Node Performance Tests
As I’ve noted many times in the past, backing your bitcoin wallet with a fully validating node gives you the strongest security model and privacy model that is available to Bitcoin users. Five years ago I started running an annual comprehensive comparison of various implementations to see how well they performed full blockchain validation. Now it's time to see what has changed over the past year!
The number of unconfirmed transactions on the entire Bitcoin network is 201,508
According to data from BTC.com, there are currently 201,508 unconfirmed transactions on the Bitcoin network, with a total network hashrate of 505.57EH/s and a 24-hour transaction rate of 7.78 transactions/s. The current network difficulty is 67.31T, and the next difficulty adjustment is predicted to increase by 2.20% to 68.79T, with 5 days and 19 hours until the adjustment.
Open interest in Bitcoin contracts across the network reaches $19.22 billion
According to Coinglass data, the total open positions of Bitcoin futures contracts on the entire network are 437,670 BTC (approximately $19.22 billion). Among them, the open positions of CME Bitcoin contracts are 120,540 BTC (approximately $5.29 billion), ranking first. The open positions of Binance Bitcoin contracts are 101,490 BTC (approximately $4.46 billion), ranking second.
Fox Business host: Bitcoin price could reach $1 million in the future
Fox Business host Charles Payne believes that as long as the US government does not crack down on Bitcoin, the price of Bitcoin may reach $1 million someday in the future. Payne explained that unlike Bitcoin, stocks allow shareholders to access "great companies" and participate in building the capitalist system that supports the United States. However, Bitcoin may have greater potential for growth and could reach $1 million; it also has the ability to completely change the overbearing (US) government intervention. If citizens refuse to accept CBDC due to privacy or trust issues, Payne is concerned that the government may force them to use it. Charles Payne said: "I hope to see Bitcoin succeed, and I believe it will eventually succeed. It has universal potential to change the world and help those who are currently in hopeless situations." (Cryptopotato)
Who Won Crypto in 2023? The CoinDesk Market Index Broken Down in 6 Charts
Tokens from Injective, a layer-1 blockchain in the Cosmos ecosystem, and Render, a GPU rendering network that migrated this year to Solana from Ethereum, dominated the year's return rankings among the CoinDesk Market Index (CMI) benchmark index of 184 digital assets.
Judge orders Craig Wright to pay more than $1 million in legal fees
A British judge has rescheduled the trial between Craig Wright and the Bitcoin Core developers for February 5th. The judge also approved the developers' second security application, ordering Wright to pay an additional £800,000 (approximately $1 million) by January 5th to cover the developers' legal fees in the event of his defeat. Wright has already deposited £100,000 ($127,000) as a security deposit.
The Qtum team releases an update and plans to merge BitcoinCore and EVM updates into Qtum Core
On December 23rd, Qtum posted on X platform that the Qtum development team has shared updates on GitHub. These updates mainly involve merging BitcoinCore and EVM updates into Qtum Core. After the merge, the community can choose to accept or reject these updates.
