Data shows the Bitcoin sentiment on social media has turned the most negative since the COVID crash, indicating that the bottom could be near. Bitcoin Weighted Sentiment Has Been Negative Recently As an analyst on Twitter pointed out, BTC’s sentiment is in deep red right now. The relevant indicator here is the “weighted sentiment” metric…
So far, the supply of Bitcoin (BTC) held on exchanges has recently seen a significant decrease, reaching levels last observed in February 2018. This trend underscores a developing pattern in the crypto market – traders and investors preferring to secure their digital assets outside of these platforms. Data from the blockchain intelligence firm, Santiment, confirms…
The ongoing crackdown by the US Securities and Exchange Commission (SEC) on the crypto industry has taken a toll on one of the largest exchanges in the market, Binance. The SEC recently filed a lawsuit against Binance.US, which has resulted in a significant decline in the value of Binance Coin (BNB). BNB has dropped more…
On-chain data shows a Bitcoin metric is approaching a crucial retest that can make or break a rally. Will the bulls come out on top? Bitcoin Short-Term Holder Realized Profit/Loss Ratio Is Nearing 1 Level According to data from the on-chain analytics firm Glassnode, a successful retest here would be constructive for the price of…
Despite the recent downturn in the cryptocurrency market, there are positive signs for Bitcoin’s (BTC) future. One key indicator is the Puell Multiple, which suggests a bullish continuation for Bitcoin despite the recent dip. Crypto Con, a well-known cryptocurrency analyst, has closely monitored the Puell Multiple and identified two key factors that point to a…
Bitcoin miners are now taking advantage of the recent price increase as they have begun to send massive amounts of BTC to centralized exchanges. While this is not new as miners tend to sell BTC to fund their operations, the sheer volume that is being moved to exchanges is what is alarming. Bitcoin Miners Send…
Data shows Bitcoin has been stuck in a historically tight range recently, something that could be a precursor for extreme volatility. Bitcoin 30-Day Price Range Has Compressed To Tight Values In a new tweet, the analytics firm Glassnode has looked into how volatile the asset has been recently. One way to quantify the volatility of…
Amid ongoing regulatory scrutiny and fear, uncertainty, and doubt (FUD) surrounding Bitcoin (BTC), short-term holders who are often known to be the first to sell off their assets when prices decline have displayed unusual resilience in the face of the current market challenges. According to the latest data, these holders are bucking the trend and choosing to…
On-chain data shows that Bitcoin miners may have been selling at a historical rate recently, something that could be bearish for the asset’s price. Bitcoin Miner Inflow To Exchanges Has Registered A Spike Recently According to data from the on-chain analytics firm Glassnode, miner exchange inflows hit a peak value of $70 million recently. The…
Bitcoin (BTC), the largest cryptocurrency in the market, made a fake attempt to breach the $27,500 barrier on Tuesday. Since then, it has been trading sideways, moving within a narrow channel. The 50-day Moving Average, which is the nearest resistance, is at $27,200. Meanwhile, the strongest support is at the 200-day MA, placed at $25,200. …