Bitcoin (BTC) has been struggling to break the $47,000 resistance and even with today’s drop below $44,000 there is still mounting evidence that the market structure is healthy. On Dec. 3, 2021, Bitcoin initiated a 25.6% correction that lasted 18 hours and culminated with a $42,360 low. Four months later, the price remained 18% below the $56,650 closing on Dec. 2, 2021. Much has changed over that period, and hard evidence comes from other sections of the sector. Between February 15 and April 2, 2022, enterprise software development firm, MicroStrategy, announced the acquisition of 4,197 Bitcoin . Inflows to Canadian …

Terra, the Blockchain outfit using Bitcoin (BTC) to back its new US dollar stablecoin, has bought over 5,000 BTC. Wallet data confirms that on April 6, Terra added another 5,040 BTC to its balance, which now totals 35,768 BTC. Terra buys the dip... again The move comes after a multi-day lull in buying activity by the Blockchain protocol. This week, co-founder Do Kwon nonetheless told Twitter followers that the scheme was "just getting started," while a mainstream media interview set out plans for "perpetual" BTC buys. Terra, Kwon explained, wants to build a "decentralized Forex reserve" with Bitcoin as its …

Bitcoin (BTC) is the collateral asset of choice for the world's biggest decentralized stablecoin, and one of its top executives says there was no other. Speaking to Bloomberg on April 4, Do Kwon, co-founder of Blockchain protocol Terra, pledged to continue buying BTC to back the firm's stablecoin, TerraUSD (UST). Kwon: BTC buys will continue "in perpetuity" Terra has made waves inside and outside the crypto community in recent weeks thanks to its massive Bitcoin buys. Currently at just over 30,000 BTC, the reserves of Terra nonprofit the Luna Foundation Guard (LFG) are due to expand to the equivalent of …

Bitcoin (BTC) has been stuck between $45,400 and $47,500 for the past two days, indicating a tough tussle between the buyers and sellers as both attempt to establish control over the trend. Data from on-chain analytics firm Glassnode showed that 100,000 Bitcoin left exchanges in March. These large quantities of withdrawals have only happened twice in the history of Bitcoin with the largest being in March 2020. However, this does not mean the price will rally immediately. In 2020, the momentum picked up only by the fourth quarter of the year. For the near term, analysts remain divided with some …

As Bitcoin (BTC) continues to eat away at gold’s market share, the bullion industry is looking to blockchain — the technology first made famous by BTC — to solve its most enduring challenges. How’s that for irony? Someone should really check on Peter Schiff. Speaking of Bitcoin, a MicroStrategy subsidiary confirmed this week that it plans to buy more “digital gold” through a crypto-collateralized loan. Terraform Labs CEO Do Kwon also ramped up his Bitcoin purchases to provide solid backing for Terra’s UST stablecoin. This week’s Crypto Biz takes a deep dive into the gold industry and the latest business …

Bitcoin (BTC) has clawed back much of the losses that took place in January and now the focus of traders shifts to April, which has historically been a strong month for. According to Coinglass data, Bitcoin has closed April in the red only on three occasions and the worst monthly loss was a 3.46% drop in 2015. Although history favors the bulls, the Whale Shadows indicator has noticed that more than 11,000 Bitcoin has left a wallet where it had been lying dormant for seven to ten years. The movement of similar-sized quantities from dormant accounts has generally resulted in …

Terraform Labs CEO Do Kwon has conceded that a crash in the price of Bitcoin would be “negative” for the stability of the UST stablecoin, but that he expects Bitcoin to go up. Terraform Labs is the entity behind the Terra (LUNA) blockchain platform which plans on buying a total of $3 billion in Bitcoin as a reserve for the UST stablecoin. Kwon made the comments in an interview on the Unchained podcast on Mar. 29. Host Laura Shin asked Kwon what the short term implications of holding so much BTC will be for the stability of UST. Kwon said …

Bitcoin (BTC) saw an 11% gain in the past week after the $46,000 resistance finally broke after 82 days. Many crypto pundits argue that Terraform Labs CEO Do Kwon, has played an important role in the price change, but is yet to be determined. A Bitcoin address thought to belong to Terra has now amassed almost $1.5 billion in BTC following a $139 million purchase on March 29. TerraUSD (UST), an algorithmic stablecoin, aims to acquire up to $10 billion worth of BTC to back its "dollar" reserve. On the macroeconomic side, there have been mixed feelings. The United Kingdom's …

Bitcoin (BTC) has already netted its biggest new buyer almost $200 million in profit from price increases, data suggests. Analysis of the wallet related to Blockchain protocol Terra reveals that since it began amassing BTC in Q1 this year, it is up $165 million. Terra co-founder rejects idea LFG moved BTC price The Luna Foundation Guard (LFG), a nonprofit organization around Terra, is currently following through on its plans to back its new TerraUSD (UST) stablecoin with both Bitcoin and its native LUNA token. The plans were only revealed this month by Terra co-founder Do Kwon, but the destination wallet …

Bitcoin’s (BTC) rally is taking a breather near the 200-day simple moving average (SMA) and that has resulted in what is either a minor pullback or consolidation in BTC and select altcoins. In the last few days, Terraform Labs has been on a Bitcoin buying spree. The wallet address speculated to be that of Terra, has received $139 million worth of Bitcoin on March 30, taking its total to about $1.5 billion in BTC. With Terra breathing down its neck, MicroStrategy seems to have taken up the challenge. The business intelligence firm’s subsidiary MacroStrategy has secured a $205 million loan …

Watch out Michael Saylor! Do Kwon, the CEO of Terraform Labs is hot on the Microstrategy CEO’s heels. The Terra wallet has now amassed almost $1.5 billion in Bitcoin (BTC) following another huge BTC purchase. The wallet address thought to belong to Terra (while not officially confirmed) received another 2943.00002511 Bitcoin ($139 million) on Wednesday. Wallet alert accounts on Twitter have been tracking the wallet. The wallet began amassing colossal amounts of Bitcoin on Jan. 21 and has not sold a single Satoshi. According to the chart, while the wallet first injected almost 10k Bitcoin on 21st Jan, the wallet …

Bitcoin (BTC) hinted at a welcome retracement overnight into March 30 after relentless upside failed to flip $48,000 to support. Trader: BTC still on target to crack $50,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $46,572 on Bitstamp as Wednesday began — its lowest since March 27. A susbequent rebound alleviated some of the losses, and at the time of writing, the pair traded at around $47,400. The change of tack followed a cooling of the narratives which had surrounded Bitcoin's initial push beyond its yearly open price of $46,200 — a significant achievement which ended …