Weekend volatility, mining updates and price predictions –

Welcome to your daily dose of today’s latest Bitcoin news! Buckle up as we dive into a whirlwind of updates, market moves, and predictions that are shaping the cryptocurrency landscape.

First of all, we have a report from Cointelegraph The report details how Bitcoin trading volume is becoming increasingly concentrated on weekdays, largely due to the influence of ETFs. This trend has led to wild price swings over the weekend that could leave traders feeling dizzy. Kaiko Research noted that since the launch of spot Bitcoin ETFs, weekend liquidity has been affected, meaning we could be in for some exciting price action on Saturday and Sunday.

In other news, Tera Wulf reported a 21% drop in Bitcoin production for the second quarter, mining just 699 BTC. Despite this drop, they managed to rake in $35.6 million in revenue, slightly beating analysts’ expectations. It looks like they are planning to pivot towards AI expansion, which could be interesting to watch!

Meanwhile, one trader shared an optimistic forecast indicating that Bitcoin could be gearing up for a massive move to new all-time highs if a specific chart pattern develops. According to CointelegraphThis pattern, known as a widening descending triangle, suggests that Bitcoin is on the verge of a bullish breakout. So keep your eyes peeled!

On the mining front, little deer reported a massive 50% increase in gross profits in the second quarter, thanks to nearly doubling its in-house mining capacity. However, they were still facing a net loss of $17.7 million. It’s a classic case of “you win some of the time, you lose some of the time” in the volatile world of cryptocurrency mining.

Now, let’s talk about the price. Bitcoin recently faced a significant surge in volatility, dropping 3.2% in less than an hour before recovering to $60,700. This rollercoaster ride is attributed to uncertain macroeconomic conditions, including remarks from a Federal Reserve governor that sent gold prices soaring. Traders are now speculating whether Bitcoin could retest its recent lows around $49,248. You can read more about this at Cointelegraph.

In a rather optimistic view, analysts suggest that now could be the time to buy Bitcoin, with predictions of a surge to $150,000 on the horizon. BTC News He highlights the ideas of Captain Faibik, who believes that Bitcoin has “bottomed out” and is ready for a significant rally. He highlights that we are currently in an accumulation phase, which historically precedes major bullish rallies.

Alongside this optimistic outlook, Ethereum is also making waves, gaining traction and even outperforming Bitcoin with an 8% increase. BTC News reports that Ethereum has broken through several resistance levels and could be poised for further gains.

As for the immediate future of Bitcoin, analysts are closely watching the $70,000 resistance zone. BTC News suggests that Bitcoin’s resilience following recent drops indicates bullish breakout potential. However, there are still hurdles to overcome, particularly around the $60,000 mark.

Finally, on a somewhat cautious note, analysts are looking at Bitcoin traders who are feeling the pressure from recent market fluctuations. On-chain data suggests that traders are taking a wait-and-see attitude, with many staying on the sidelines until clearer signals emerge. BTC News He explains that while there has been a significant inflow into stablecoins, traders are still hesitant, reflecting a cautious market sentiment.

So there you have it, folks. Today’s latest Bitcoin news is a mix of volatility, mining updates, and bullish predictions. Whether you’re trading, holding, or just watching from the sidelines, it’s an exciting time to be in the cryptocurrency space!