With the decline in activity in the bitcoin derivatives market, there is a formation of constructive medium- and long-term trends. These are the conclusions made by analysts of Glassnode. Over the past 12 months, trading volume, implied volatility, and spreads over the spot market have fallen to historic lows. This was facilitated by the price...Read More
2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, with Bitcoin retracing all way from around $41k to where it stood at press time ($32,600). However, does the...Read More
Bitcoin price seems ready for a drop leading to increased volatility and a revisit of $30,000 or a drop of 10% to 12% cannot be ruled out. Not just one but many indicators point to the bearish drop for bitcoin in the near term. Bitcoin on-chain indicator The SOPR indicator is a classic on-chain indicator...Read More
The demand and supply have been holding up the economics of traditional finance and the crypto market has also been abiding by it. Bitcoin, which managed to return over 300% in 2020, has been recognized as a store of value by many investors as they continue to include a high number of Bitcoin in their...Read More
Bitcoin’s market cap, briefly, went past Tesla’s, as the cryptocurrency’s price surged to a new ATH of $41,940. Despite BTC falling at press time owing to a wave of corrections, bullish sentiments claim Bitcoin will be heading towards higher figures amid the U.S dollar’s weakness and growing institutional demand. While some metrics anticipate a coming...Read More
New research indicates 78% of the circulating Bitcoin supply, which is 14.5 million BTC, as being illiquid. According to analysts Kilian Heeg and Rafael Schultze-Kraft at Glassnode, increased perception of Bitcoin as a store of value and hodling activity is reducing liquid bitcoin. Illiquid Bitcoin has been increasing this year, which means there will be...Read More
Price discovery beyond $20,000 was a pipe dream for both institutional and retail traders two weeks ago. Now, with Bitcoin trading at $23,511 at the time of writing, there is a lot of anticipation around further price discovery. Interestingly, Bitcoin’s mean transaction volume (2d MA) has fallen significantly in the past 24-hours, with the current...Read More
Ethereum’s price has been on an impressive recovery sun since it fell on 12 March. In fact, since Black Thursday, ETH has surged, with the cryptocurrency recording a 64 percent hike over its pre-12 March trading price. While the increase in demand for DeFi and the subsequent loss of steam has led to many questioning...Read More
Breaking out of its consolidation period, Bitcoin‘s value increased to $11,731 on 12 October, before dropping to $11,385, at the time of writing. This drop could be the minor corrections taking place in the market, but this was the longest time frame BTC’s value maintained its position above the $11k resistance in a while. The...Read More
Lately, there seems to be a lot of good news when one looks at the on-chain metrics for Bitcoin. Earlier the price briefly moved above $11K but fell back down to $10,700 as of Tuesday morning – the price moving seemingly in tandem with the stock market. Bitcoin: Glassnode Network Index Source: Glassnode As per...Read More
The volatile crypto market has presented numerous opportunities for the traders to reap benefits and also suffer losses. However, the past week’s loss could have been a great opportunity for the accumulators. Bitcoin kickstarted the week is valued at $10,340 and ended almost at the same value, although the coin fluctuated within the $600 range...Read More
Bitcoin has set on a rally with the beginning of the last month of the quarter. The largest asset’s price increased from $11,515 at midnight to $11,966.84, until an hour back, which could be due to the interest flowing into the BTC market. Even though the beginning of September was looking strong, the final week...Read More
With Bitcoin’s price gathering positive momentum in its price charts, some of the important metrics were beginning to witness a shift. The largest digital asset recently breached over the $11,500 once again and it is currently marching towards a re-test of the $12,000 resistance. With the price climbing the valuation ladder, the Glassnode indicated that...Read More
Whale alert reports that a so-called whale has transferred the equivalent of $2.24 billion in bitcoin for less than $7. In a series of tweets on Friday, the crypto tracking tool said the bitcoin (BTC) whale sent a total of 241,500 BTC in seven successive transactions within one hour. Each transaction, made separately to unknown...Read More
The number of so-called whales with 1,000 bitcoin or more in their wallets has climbed to 1,882 from around 1,650 in January. It is the highest the numbers have reached in nearly three years. Whales may be defined as the Bitcoin ( BTC) community’s own version of the ‘deep state’, with the ability to swing...Read More
In mid-April, news.Bitcoin.com reported on a great number of BTC withdrawn from cryptocurrency trading platforms and after the third BTC halving, the trend has picked up once again. Data from Glassnode’s Bitcoin Exchange Net-Flow statistics show that close to 24,000 BTC has been withdrawn since May 11. Additionally, statistics from Bituniverse’s exchange reserve data indicate...Read More
Since Bitcoin (BTC) tapped $6,500 in late-November, analysts have been wondering if the bottom is really in. You see, the leading cryptocurrency bounced by 20% from $6,500, hitting $7,850 just a week back.Related Reading: Eat My Shorts: Everything You Need To Know About The Bitcoin Bart PatternWhile some say that the fact that Bitcoin failed to...Read More
