James Check News

Bitcoin’s price is soon due for some major price action following an extended period of unusually low volatility, onchain analysis suggests.

The «bitcoin $100,000» price milestone has proven elusive. Some analysts are are blaming skittish investors taking profits as companies continue to purchase the crypto asset.

While many market segments panic-sold their Bitcoin (BTC) this week, the digital currency’s largest whales seem to have bought the dip with size.

Eternal gold bug Peter Schiff had a fierce warning for Bitcoin’s faithful on Wednesday, claiming the digital asset is on the verge of losing substantial and precarious technical price support.

Bitcoin’s latest price dip to under $60,000 has raised questions as to whether the asset’s spectacular bull run this year could be ending earlier than expected.

This year’s massive crypto rally was driven by the Bitcoin spot market, with on-chain analysis offering a unique look into the current state of the market cycle, according to Glassnode.

Bitcoin may now be closing in on $63k as the bulls goad it towards and beyond its former all-time high of $69k, but according to one metric, realized capitalization, the world’s biggest cryptocurrency has already closed in on a historic peak.

A contributor to Taproot Wizards has launched a script to reject Ordinals inscriptions.

The price of Ethereum (ETH) has continuously lost ground to that of its older brother, Bitcoin (BTC), throughout the year – and on-chain data suggests it will continue to do so.

Investment firm Ark Invest and blockchain security firm Glassnode have revealed a conceptual framework for understanding the Bitcoin (BTC) economy amid the ongoing bear market. 

After rising for four successive months, Bitcoin (BTC) is on track to end May with losses of about 7%. Another noteworthy thing in May is that Bitcoin’s 30-day volatility dropped to 1.52%, which is far below the yearly average 4% and higher. Glassnode data shows that Bitcoin’s low volatile periods have only lasted for 19.3% of its total price history. Hence, there is an expectation for volatility to pick up in June.

After a long period of unusually low volatility, Bitcoin's next major price move is likely imminent and could drive BTC to $32,000, according to James Check, the lead on-chain analyst at Glassnode. That price level is where Bitcoin’s “true cost basis is sitting,” Check explained in an exclusive interview with Cointelegraph. 

Fresh data from Glassnode demonstrates that Bitcoin's (BTC) Lightning Network is significantly cheaper to use than legacy payment networks.

There is no excuse for not putting a few hours of research into how to properly custody your crypto, according to lead on-chain analyst James Check. Joining the latest debate around self-custody, the analyst pushed back against the notion that managing private keys is too complicated and risky for the average crypto user. 

Bitcoin climbed almost 8% in the final three days of the work week, while Ether surged 20%. Neither of the two dominant tokens has set a new low point in this bear market for almost a month. Bitcoin has been hugging the closely watched $20,000 round number, while Ether is hovering near $1,000. The relative stabilization in the charts is fueling hopes that contagion may have run its course following the spectacular collapse of tokens on the Terra blockchain, a wipeout that also sent hedge fund Three Arrows Capital and brokerage Voyager Digital into bankruptcy court. While much of the crypto world’s leverage is not recorded on blockchains, and therefore hidden from scrutiny, what is visible is encouraging, according to James Check, lead analyst at Glassnode.

The cryptocurrency market has been nothing short of a financial soap opera in 2022, and the drama continued this week when the lender Celsius Network filed for bankruptcy protection. Yet there is one important place where the drama has cooled off noticeably: the actual prices of the largest digital tokens themselves.

The United States dollar index (DXY) resumed its strong uptrend on July 11, indicating that investors are preparing for the July 13 CPI report to be hotter than expected. A survey of economists by Bloomberg estimates that in June consumer prices surged to 8.8%, a four-decade high.

While the current bear market may be the worst on record, on-chain metrics signal that the Bitcoin (BTC) network is becoming increasingly resilient, said Glassnode analyst James Check during a recent interview with Cointelegraph. 

There’s cause for celebration from the world’s largest cryptocurrency. The Lightning Network hit the 4,000 Bitcoin (BTC) public capacity milestone, meaning $120 million in value is ready for peer-to-peer payments.

Some analysts argue that Bitcoin (BTC) rallied too fast and too soon and the weakness that we see today is a result of that. Currently, a new Covid variant has caused the Chinese government to implement severe restrictions on Shanghai and other major cities and persistent regulatory concerns continue to weigh down on sentiment within the crypto sector.

It’s a great time to move Bitcoin (BTC) between wallets and exchanges. Bitcoin transaction fees have hit all-time lows in BTC, according to research by Galaxy Digital.