On-chain data shows the Bitcoin Puell Multiple has hit pretty high levels recently. Here’s what this may mean for the current rally. Bitcoin Puell Multiple Has Risen To High Levels In Recent Days As pointed out by an analyst in a CryptoQuant post, the Puell Multiple is currently at even higher levels than those seen…
The historical pattern in this Bitcoin on-chain indicator may suggest that the ongoing rally hasn’t reached its top yet. Bitcoin 1-Year Inactive Supply Has Continued To Go Up Recently According to a post from the on-chain analytics firm CryptoQuant, the 1-year inactive supply hit a high back in March of this year. The “1-year inactive…
On-chain data shows Bitcoin has broken above these three key levels in a manner reminiscent of the rally in April 2019. Bitcoin Breakout Shows Initial Similarities To April 2019 Rally According to data from the on-chain analytics firm Glassnode, BTC has broken above the three investor cost-basis levels for the first time since the COVID-19…
Data shows most of Bitcoin’s recent gains since November 27 have been observed during Asian trading hours, according to a report. Bitcoin Saw The Most Returns During Asian Trading Hours As per the latest weekly report from Arcane Research, Asian trading hours saw positive cumulative BTC returns of around 16% between November 27 and January…
On-chain data shows Bitcoin miners could be dumping right now, a sign that could provide an impedance to the rally. Bitcoin Miners’ Position Index Has Shot Up Recently As pointed out by an analyst in a CryptoQuant post, miners may be putting selling pressure on the market currently. The relevant indicator here is the “Miners’…
On-chain data shows the number of stablecoin transactions going into spot exchanges have risen recently, something that could help fuel a Christmas Bitcoin rally. Stablecoin Deposits To Spot Exchanges Have Shown Increasing Demand Recently As pointed out by an analyst in a CryptoQuant post, there has been an increasing demand on spot exchanges recently. The…
A quant has explained how this bearish divergence in Bitcoin on-chain data can lead to a short-term correction in the price. Bitcoin Short-Term Holder SOPR Has Been Slowing Down Despite Price Going Up As explained by an analyst in a CryptoQuant post, a gap has been forming in the purchasing power of short-term holders and…
Data shows the latest Bitcoin rally has failed to make the 30-day volatility budge, as the metric has remained at 2-year lows. Bitcoin 30-Day Volatility Currently Has A Value Of Just 1.7% As per the latest report released by Arcane Research, BTC’s price stabilizing around $20.5k has resulted in the daily volatility remaining low. The…
The year 2022 has proved to be unfavorable for the crypto market. The industry has been facing a long lasted bear trend, with the flagship coin, Bitcoin, nearly down 70% then its ATH of November 2021. Still, the market fear has not ruined the investors’ interest in Bitcoin. Data shows that more than half of…
Data shows the Bitcoin trading volume has further declined recently, suggesting that the latest rally may be losing steam. Bitcoin Spot Trading Volume Continues To Decline This Week According to the latest weekly report from Arcane Research, the BTC spot volume has observed further decline in the past week. The “trading volume” is an indicator…