U.S. institutions have probably been behind January’s rally in bitcoin (BTC), which saw the cryptocurrency gain more than 38%, and an outperformance this early in the year tends to be bullish for the token’s price, crypto services provider Matrixport said in a research report Wednesday.

Bitcoin’s (BTC) recent uptrend was met with euphoria and skepticism as prices rallied 40% in the past month – despite ongoing contagion effects spread by the fall of centralized crypto players.

Bitcoin's HODL Waves indicator created by Unchain Capital and tracked by Glassnode shows that the percentage of unspent transaction outputs (UTXOs) older than five years has increased by 17% in the past six months.

A new protocol released on Bitcoin is bringing wider NFT capabilities to the world’s largest blockchain and it has the potential to reshape the NFT market and the dynamic between some of the largest blockchains, industry officials tell Forkast.

Bitcoin prices broke back above US$23,000 in Wednesday morning trading in Asia. Ether and most other top 10 non-stablecoin cryptocurrencies also bounced back from yesterday’s losses amid strong gains in U.S. equities for January and optimism the U.S. economy is heading for a soft landing. Top memecoin Dogecoin led the pack, still gaining from reports on Monday that long-time advocate and Twitter Inc. boss Elon Musk is looking to bring payment systems to the social media platform. The crypto market cap rose 1.4% to US$1.05 trillion, with total trading volume slipping 17.1% to US$47.26 billion. (forkast)

Former stockbroker, commonly known as the “Wolf of Wall Street,” Jordan Belfort, has delved into the possible Bitcoin (BTC) outlook for 2023 as the crypto sector attempts to exit last year’s bear market. 

Legendary trader Peter Brandt has shared his thoughts on Bitcoin, noting that the pioneer cryptocurrency could continue pushing higher.

Up to 20% of all Bitcoin supply is in high profit, from $686 to $15,000. The next band sees 25% of all Bitcoin supply sitting between $15,500 and $23,000. Less than 1% of all supply is between $24,000 and $26,000. The majority of the Bitcoin supply is sitting at a loss

Bitcoin options markets continue to signal near-term upside risks to the BTC price, despite warnings from strategists that Wednesday’s Fed meeting could trigger a “bloodbath” in cryptocurrency markets.

Bitcoin is no stranger to NFTs, but it's not been much of a friend to them either. That could be all changing as a new kind of Bitcoin-based NFTs called Ordinals emerge.