No “Big Crash” in Sight for Bitcoin, Says Macro Analyst Lyn Alden

The post Coinbase Moves Billions in BTC and ETH for Wallet Upgrade appeared on BitcoinEthereumNews.com. Coinbase triggered major attention after billions in BTC and ETH moved across its wallets, sparking speculation before the exchange confirmed a planned migration. Now the full on-chain trail shows a coordinated internal shift rather than any market-moving outflow. Coinbase Shifts Billions in BTC and ETH Between Cold Wallets Coinbase is moving billions of dollars in Bitcoin and Ether between its own wallets, according to on-chain data. A new Arkham Intelligence dashboard shows a series of large outflows from Coinbase-labeled cold wallets over the past several hours, with multiple transactions of about 5,500 BTC each, worth roughly 470 to 480 million dollars per transfer. Coinbase Transfers Dashboard. Source: Arkham Intelligence / X At the same time, the funds appear to be heading to fresh addresses that are not tagged as external exchanges, suggesting an internal wallet migration rather than customer withdrawals. The transfers span several Coinbase cold wallets and took place within a short window, indicating a coordinated reshuffle of reserves as the exchange updates or consolidates its storage infrastructure. Coinbase Confirms BTC and ETH Wallet Migration Completed Yesterday, Coinbase completed a planned migration of its Bitcoin and Ethereum wallets after executing a series of large internal transfers. The exchange announced the update on its official platform account, noting that the shift involved moving funds between Coinbase-controlled wallets and newly generated addresses. Coinbase Wallet Migration Update. Source: Coinbase Platform on X At the same time, Coinbase stressed that the activity was routine and aimed at strengthening security standards. The exchange said customers could trade, send, and receive crypto throughout the process, since the migration affected only custodial wallet infrastructure and not user deposit addresses. Furthermore, Coinbase explained that periodic wallet rotations reduce long-term exposure of stored assets. The exchange also clarified that no funds were sold or converted during the operation…

The expected Federal Reserve rate cut was announced on Wednesday. True to form, market makers sold Bitcoin down to $114,800. Then the price rebounded hard, stopping just short of $118,000. Is this rally just getting started?

The post Here’s why the crypto market is going up today (Nov. 23) appeared on BitcoinEthereumNews.com. The crypto market is going up today, Nov. 23, as investors buy the recent dip and as stablecoin supply in exchanges start rising.  Summary The crypto market is going up today, with Bitcoin hitting $86,000. This rally is happening as investors buy the recent dip.  Futures open interest and stablecoin supply in exchanges have been rising. Bitcoin (BTC) price rose to $86,000, up by nearly 8% from the lowest level this year. Top altcoins like Zcash (ZEC), Cronos (CRO), Monero (XMR), and Aerodrome Finance were up by over 10% in the last 24 hours. Data compiled by CoinMarketCap shows that the market cap of all coins rose by nearly 3% to over $2.9 trillion.  Crypto market is going up as investors buy the dip One potential reason why the crypto market is going up is that investors are buying the dip after most coins dived by double digits in the past few weeks.  It is common for crypto and stock market investors to go bargain hunting after a big decline. This dip-buying is common when these assets move to the oversold levels. The Relative Strength Index of the crypto market dropped to the oversold level of 25 this week.  This dip buying has also been prompted by the fact that American stocks ended the week in the green. The Dow Jones Index rose by 493 points, while the S&P 500 and Nasdaq 100 Indices jumped by 65 and 195 points, respectively.  However, the main risk for the ongoing crypto market rally is that it may be a dead-cat bounce or a bull trap. A bull trap is a situation where a falling asset rebounds briefly and then resumes the downtrend.  Crypto prices rally as open interest and stablecoin inflows rise The ongoing crypto market rebound is happening as activity in…