Exchange Bitcoin reserves have dropped steadily to correspond with the cryptocurrency’s price rise, with the number of Bitcoin withdrawals from exchanges recently climbing to a 3-year high. This is an incredibly bullish sign during a bull run. It is safe to say that Tesla’s latest purchase has fueled the price rally and it may be...Read More
With Ethereum trading at a new all-time high, and PayPal enabling crypto payments for its 26 million merchants worldwide, this year has already been marked by significant events to signal crypto adoption. Bobby Ong, Co-founder of crypto data aggregator CoinGecko, recently shared his predictions for 2021. According to him, this will be the year that...Read More
Bitcoin is trading close to $38000, and the break from the rangebound price level came as a relief earlier this week. On Tuesday, the price hit $37000 and trading beyond $35000 allowed Bitcoin’s price rally to break away from the resistance. As traders gear up to predict the impact of the current price trend on...Read More
Unlike the 2017-rally, Bitcoin currently indicates strong fundamentals. The growth has been such, over the course of 2020 and the beginning of 2021, that the digital asset has experienced massive capital injection. It is difficult to identify the source at times, as both retail and institutional investments come in a flurry. However, the growth of...Read More
Apart from the on-chain factors that drive Bitcoin’s bull run, a few external indicators that precede every bull run have made the headlines yet again such as a bill on a probable cryptocurrency ban in India, the Chinese new year FUD, exchange outages like Coinbase and Binance, and altcoin price rallies, etc. Once the sell-off...Read More
After Bitcoin dropped on the 21st of January, the investors dropped back to a previously used market strategy that supposedly triggered BTC’s bull run; hodling. As reported previously, dormant coins undergoing movement during the massive $42,000 high became dormant again, and hodlers settled back to navigate through the bearish storm. However, the rally which started...Read More
Bitcoin’s range-bound price rally has left many traders waiting for another dip. There have been a few swift recoveries in the current market cycle and institutions have supported the rebound in price, however, the question remains – for how long? When will it be time to book profits on the assets accumulated in the past...Read More
Bitcoin’s price correction in the ongoing rally was rather short-lived and the asset is back trading at the $32400 level based on data from CoinMarketCap. Though traders endured losses in the dip, and institutions continued buying, the dip was rewarding for altcoins as it changed the direction of investment flow. Against 100% wallets HODLing Bitcoin...Read More
Ethereum’s price rally was in full swing, before the 5.9% drop in the past 24 hours. The price has dropped from the ATH and Ethereum is now trading at the $1300 level. Nearly all cryptocurrencies are bleeding currently, including Bitcoin, with a massive 24-hour price drop of 5.2%. This hasn’t affected the sentiment of retail traders...Read More
Bitcoin’s price was stumbling to lower levels after it hit an all-time high of $42k. The largest digital asset managed to retrace its steps to $38k recently, before witnessing another fall. However, this time around, this drop in price was an opportunity for the institutions to bag even more BTC. Grayscale has been one such...Read More
Institutional buying that started when Bitcoin’s price was as low as $19000 has continued well into the $40000 level. Institutions like Grayscale have consistently added to their Bitcoin holdings irrespective of the price rally and the subsequent correction. Based on data from the Coinbase chart, there is a possibility that institutional investors have bought $BTC...Read More
The 2021 alt season may have kicked off with Ethereum’s high OI. Currently, the open interest in Ethereum is higher than $3.5 Billion. It is a rare occurrence that a bullish trend emerges so clearly in Ethereum, but Bitcoin’s price rally has supported the trend. During the past weekend, the OI broke all records and...Read More
On the one hand, Bitcoin’s price breaking above $34,000 and $35,000 might have started an endless debate on whether there will be a spillover to other cryptocurrencies or not. On the other hand, another critical debate relates to the whale movement associated with the market’s top cryptocurrencies. This is a crucial debate, especially since the...Read More
With Bitcoin trading above $23,000 emerging to become the new normal, institutions and Bitcoin whales are driving price discovery into previously unchartered territories on the price charts. This doesn’t come as a shock to maxis and on-chain analysts, however, with Willy Woo recently quoted as saying, “$100,000, I would rate as very conservative, probably overly...Read More
Another weekend for Bitcoin’s price action has passed quietly. The entire week, as Bitcoin’s price hit new ATH, there was the anticipation of the price crossing $20000. There was an increase in percent active supply and the increasing liquidity by whales was balanced by retail and institutional buying. In the past week, the price increased...Read More
Bitcoin’s rapid institutionalization has raised many eyebrows, around the world. In addition to this, it has also raised the interest and investment of institutional investors, family offices, and HODL waves from retail. In the latest episode of the Pomp Podcast, Raoul Pal takes us to conversations that happened behind closed doors between Macro guys from...Read More
Amidst all the market movement over the past few days, and liquidations observed over exchanges, CME has now overtaken OKEx to become the largest Futures market for Bitcoin. According to data from @skewdotcom, CME is now the largest futures market for #bitcoin! Institutional investors are here🏦💰 pic.twitter.com/6GgQdrMw12 — Arcane Research (@ArcaneResearch) November 27, 2020 Data...Read More
After shaking off the slow weekend, Bitcoin’s price is back above $18600. Bitcoin traded above the $18500 level for nearly 3 days before the weekend and then dropped to $18200, even lower on some spot exchanges. However, according to Entrepreneur Qiao Wang, Weekends exist for shaking off weak hands before institutions turn their algos back...Read More
MicroStrategy’s Michael Saylor has been in the news since MicroStrategy’s purchase of $500 Million worth of Bitcoin, right off of the company’s balance sheet. The spotlight on crypto Twitter has been on Michael Saylor and recently he tweeted about the debate between Bitcoin and Gold and how one would end the other, his choice of...Read More
With recent announcements of the COVID-19 vaccine, new momentum was unleashed for Bitcoin on spot exchanges. Gold took a hit, and the increasing BTC-Gold correlation spread was a relief for most retail and institutional traders. New demand for BTC was generated, as the news spread and to meet this demand, miners flow to exchanges has...Read More
According to a recent report by LongHash, public companies in the U.S. now own $10 billion worth of Bitcoin – something that can be accredited to increased investment as well the cryptocurrency’s rise in price over the month of October. While the general consensus regarding more institutions getting interested in Bitcoin is fairly positive, the...Read More
As Bitcoin hit 2020’s ATH at nearly $15800, open interest on top derivatives exchanges like CME and Bakkt went up. On CME, where top institutions trade, the open interest increased by 16% to $933 Million. CME futures open interest and volume || Source: Skew Based on data from Skew, open interest has climbed up, however,...Read More
The crypto market has seen an uptick in Institutional Investment of late and following the announcement of these large purchases by more firms, the market has rallied as anticipated. There is much speculation as to which firm will be the next to buy Bitcoin, but the real question is how many institutions are now accumulating...Read More
With Bitcoin rallying and staying above the $13000-mark for a few days now, on its way towards a new ATH, the trade volume on spot exchanges has dropped dramatically. While the said volume was high when the price breached $13000 for the first time, since then, the figures for the same have dropped consistently. BTC...Read More
When we talk about the accumulation of crypto-assets, only one corporation comes to mind this year – Grayscale Trust. In 2020 alone, Grayscale has accumulated more than 300,000 BTC, while also introducing a new digital asset trust associated with Litecoin. In fact, according to reports, the firm has registered over $1 billion in inflows in...Read More
MicroStrategy’s $500M investment in Bitcoin, now its primary asset reserve, has consistently made the headlines for over a week. Significantly, this move was viewed as an indicator of institutional interest since it has long been considered to be an important driver of Bitcoin’s price. During the historic bull run of 2017, institutional interest was key...Read More
Bitcoin‘s price has moved an awful lot in the past 24-hours but the entire community was on market watch. With analysts tracking different metrics and changes in volume, CryptoQuant CEO observed a bit of activity from the whale’s side, or dare I say, a lack of activity. Ki Yong Ju indicated on twitter that the...Read More
Bitcoin’s price has been tumbling lower ever since it touched the yearly peak of $12,473 on 17 August. This sudden boost in the price of the largest digital asset garnered the attention of traders who were busy dealing in altcoins while BTC was in a consolidation phase. The Bitcoin futures open interest was sitting at...Read More
For most investors, the crypto-market is no longer uncharted territory. Thanks to increasing regulatory clarity and mainstream adoption, institutional investors are now flocking in. With the industry maturing over the past decade, it would seem that North America has emerged to become a very important market, something evidenced by the fact that it has more...Read More
For quite some time now, a lot of BTC is being bought up. Some of the purchases are made by existing BTC owners, whereas the rest is ending up in the hands of Grayscale. Accumulating Bitcoin appears to be a very prominent option these days. Grayscale Keeps Buying Bitcoin and Ethereum On the one hand,...Read More
