Alongside a lackluster market, there has been a significant decline in whale activity across most major crypto assets. According to the latest analysis by Santiment, Bitcoin and Ethereum are seeing noticeable drops in $100k+ transactions. Whale Activity Plummets During the highly active period of March 13-19, Bitcoin saw 115.1k transactions valued at over $100k each,...Read More
The number of Bitcoin wallets holding 100 BTC or more has just hit a remarkable 17-month high. According to blockchain analytics platform Santiment, this surge was propelled by a notable increase in whale holdings over the past month. In an X post on August 31, Santiment shared that over 283 wallets holding at least 100...Read More
On Sept. 2, crypto analyst ‘Titan of Crypto’ showed his 90,000 X followers a technical pattern unfolding that has never been seen before. A golden cross is forming between the 100-day moving average and the longer time frame 200-day moving average. A typical golden cross is when a shorter time frame moving average like a...Read More
Digital asset investment products witnessed $305 million in outflows last week, with negative sentiment widespread among various providers and regions. CoinShares attributes this to stronger-than-expected economic data from the United States, which has lowered the probability of a 50-basis point interest rate reduction. The asset manager further expects that as the Federal Reserve approaches a...Read More
Despite another dip in crypto markets over the weekend, they have been largely range-bound for the past six months. On Sept. 2, on-chain analyst James Check said that the Bitcoin “chopsolidation is evolving.” He added that the swings are getting larger and more sustained but cautioned that the price range is becoming unstable. “Screams to...Read More
Meanwhile, crypto assets continue to decline in what has been a divergence from tech stock markets, which continue to see growth. Last week’s economic reports painted a rosy picture of a robust economy, resilient consumer spending, and gradually cooling inflation. This is the fuel for the Federal Reserve to ease its monetary policy, with investors...Read More
Bitcoin’s price fell below $60,000 on Tuesday and Wednesday after posting big gains over the weekend following the Fed’s pivot to lower interest rates. The spot price briefly peeked over $65,000 before coming back down. But Bloomberg’s McGlone is bearish despite the market’s moves. He thinks BTC’s apparent lack of enthusiasm might signal a slow-going...Read More
It’s safe to say that the highly-anticipated 2024 bitcoin bull run is not going as planned, even though the asset managed to break its 2021 all-time high early on. However, it has lost some traction and speed on the way toward the coveted $100,000 mark, but Perplexity listed some of the factors that could propel...Read More
Bitcoin appears to be struggling to position itself above $60,000. The world’s largest crypto asset by market cap is yet to recover from the fall earlier this week. As a result, its weekly losses compared to the surge last Friday stand at about 10%. However, its reserves on exchanges hitting new lows for the year...Read More
The realized capitalization of Bitcoin long-term holders (LTH) surpassed $10 billion this week for the first time ever. This highlighted the growing confidence among investors who hold the asset for extended periods, typically more than 155 days. The LTH metric is particularly crucial because it reflects the conviction of these holders in Bitcoin’s long-term potential,...Read More
Bitcoin prices have crashed again with a huge four-thousand-dollar dump from just over $62,000 to bottom out at $58,000 during late trading on Tuesday, Aug. 27. According to Coinglass, 87,920 traders have been wrecked, with the total liquidations coming in at $320 million over the past 24 hours. BTC has since recovered marginally to trade...Read More
Bitcoin’s correlation with the U.S. equities market has been rising for more than a month, as seen in the collective plunge and rally across different asset classes during the Japanese yen crisis earlier this month and the Federal Reserve’s statements at the Jackson Hole symposium last week. According to the recent edition of the Bitfinex...Read More
Crypto markets have held on to gains over the weekend following an upsurge in the wake of the Federal Reserve meeting last Friday. Speaking at Jackson Hole, Fed Chair Jerome Powell affirmed expectations of an impending monetary policy pivot stating “the time has come for policy to adjust,” before adding that the “timing and pace...Read More
The current U.S. benchmark rate for massive overnight money market loans from the central bank is in the range of 5.25% and 5.5%. When Powell spoke in Jackson Hole, Wyoming, on Friday, markets expected more signals of a regime of interest rate cutting ahead. Instead, he went a step further and explicitly endorsed rate cuts. In...Read More
Bitcoin ETFs have been on an impressive streak lately, and the last trading week saw more than $500 million allocated to the largest US-based products. However, Ethereum ETFs are in the opposite corner, with minor trading volumes and withdrawals. Bitcoin ETFs on a Roll The spot Bitcoin ETFs had a rough start of the month...Read More
After a relatively weak period of trading sideways for days and days, bitcoin’s price went on the offensive on Friday evening and Saturday morning and tapped $65,000 for the first time since early August. Some of the most probable reasons behind this $5,000 daily surge seem to be connected to the US central bank and...Read More
Historical on-chain data shows that high bitcoin (BTC) demand often precedes price recoveries and rallies; however, this is not the case at the moment. Current market dynamics suggest that such price movements are unlikely in the near term because BTC demand growth has remained at low levels. A recent report from CryptoQuant revealed that bitcoin...Read More
Around 18,400 Bitcoin options contracts are due for expiry on Friday, August 23. They have a notional value of around $1.1 billion. Today’s options expiry event is a little smaller than last week’s, so its impact on spot markets is likely to be limited. The much larger month-end expiry event next week has a notional...Read More
On Aug. 22, technical analyst and creator of the stock-to-flow model Willy Woo posted a chart of Bitcoin inventory on exchanges. He noted that things have been bearish until the start of August due to an influx of around 100,000 BTC from the German and US governments selling and Mt. Gox distributions. He added that...Read More
Bitcoin surged by 4% back to $61,550 on Wednesday as speculation grew that Robert F. Kennedy Jr. may soon exit the 2024 U.S. Presidential race to endorse Donald Trump. The news has re-established Trump as a betting favorite to win the November election, which is thought by analysts to have major implications for Bitcoin’s short-term...Read More
Following the cycle low in November 2022, capital has progressively shifted towards the leading cryptocurrencies at the top of the digital asset risk curve. Bitcoin, for one, has seen its dominance expand once again as a certain cohort of holders continued to support the growth. However, the same cannot be said for other crypto assets....Read More
The bankrupt Mt. Gox Bitcoin exchange transferred 13,265 BTC worth around $784 million on Aug. 21, according to Arkham Intelligence. 12,000 BTC were then directed to a new address, while the remaining 1,265 went into a cold wallet associated with Mt. Gox. It is the first major movement of BTC by the exchange trustee in three...Read More
On Sunday, MicroStrategy executive chairman Michael Saylor posted on X, “We’re going to need a bigger truck,” with the Bitcoin hashtag. Could he be hinting at bold crypto moves ahead for his company? We’re going to need a bigger truck. #Bitcoin pic.twitter.com/4cReSyYdrl — Michael Saylor⚡️ (@saylor) August 18, 2024 “Gonna need a whole fleet,” answered...Read More
Bitcoin’s weekly candle closed below its bull market support band making it the fourth week in a row to do this. The close of $58,748 has kept the asset below key moving averages, as depicted by analyst Benjamin Cowen in a post on X on Aug. 19. Moreover, the last three weekly candles have been...Read More
The bond market heated up last week as stocks began to tumble. As a result, Treasury yields (the coupon premium bondholders receive for buying a bond) are falling drastically. That could be bullish news for Bitcoin price. Bonds ended last week with the largest single-day point rise in 16 months as investors fled record Wall...Read More
Stock markets have shown signs of recovery, but the same cannot be said for crypto markets, which are facing heavy resistance. Volatility could tick up again as all eyes will be on the Federal Open Market Committee (FOMC) meeting and minutes this week in addition to economic data reports. Economic Events Aug. 19 to 23...Read More
The northern European country of Norway has a population of nearly 5.5 million. Moreover, the government’s investments for its citizens total some $1.7 trillion. A chunk of that is in Bitcoin stocks, and the government upped its holdings this year. Norway Sovereign Wealth Fund’s Bitcoin Spree Norway now indirectly owns 2,446 BTC through its investments...Read More
For the week ending Aug. 17, Bitcoin price continued its shaky action, even as low consumer inflation signaled an upcoming dollar supply glut and the S&P 500 Index rallied. The latest U.S. consumer inflation readout gave the Fed more ammo to justify a big rate cut in September. That’s bullish news for Bitcoin, because more...Read More
On Friday, August 16, around 24,300 Bitcoin options contracts will expire, with a notional value of around $1.4 billion. Today’s options expiry event is smaller than last week’s, so its impact on spot markets is likely to be limited. The much larger month-end expiry event currently has a notional value of $3.2 billion. Bitcoin Options...Read More
Metaplanet announced making yet another significant investment in bitcoin, purchasing approximately $3.3 million (500 million yen) worth of the cryptocurrency. This acquisition involved 57.103 bitcoins, with an average purchase price of 8,756,107 yen per one. This move is part of the Japanese investment firm’s broader strategy to expand its bitcoin holdings. With the latest purchase,...Read More
