Bitcoin rallied from $3,800 to $10,000 in two months of volatile trading. The maligned cryptocurrency outperformed its hedging rival Gold on a year-to-date timeframe. Gold underperforms as its correlation with the S&P 500 index grows to an 18-month high. Last week, bitcoin closed above $10,000 almost two months after crashing to below $4,000 in a global market sell-off. The cryptocurrency found its jumping shoes in a multitude of bullish narratives, ranging from deflation-friendly “halving” to […]

Bitcoin’s halving is finally here. After years of waiting, the long-awaited event has arrived that will see the number of coins issued per block cut in half — hence “halving — from 12.5 to 6.25. Although BTC investors on Twitter and other forums are claiming they’re over the moon about the halving, on-chain data paints […]

The post Sorry bulls: On-chain metrics show Bitcoin is highly bearish ahead of halving appeared first on CryptoSlate.

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