Here’s how the current Bitcoin rally stacks up against the previous ones in terms of the drawdowns it has experienced so far. The Current Bitcoin Rally Has Seen A Peak Drawdown Of -18.6% So Far In a recent tweet, the on-chain analytics firm Glassnode compared the latest Bitcoin rally with the ones seen throughout the…
Dogecoin’s on-chain transaction count is up more than 60X from roughly 20,000 transactions as of May 1 to over 1.20 million on May 20, BitInfoCharts data shows. 60X Spike In Transaction Count The present spike represents a 60X expansion in the Dogecoin transaction count, a noteworthy development primarily due to the launch of Ordinals on…
Ethereum (ETH), the second-largest digital asset in the cryptocurrency sector, is currently captivating traders’ attention as volatility gauges indicate an intriguing shift in market dynamics. Contrary to the customary pattern, these indicators are suggesting that Ether may experience relatively smaller near-term price fluctuations compared to Bitcoin, according to Bloomberg. This unexpected reversal has injected a…
Data shows that Bitcoin volatility is currently at historically low levels, something that has led to violent price moves in the past. Bitcoin 7-Day Range Has Compressed To Just 3.4% Recently According to data from the on-chain analytics firm Glassnsode, the current 7-day price range is comparable to levels seen back in January of this…
Bitcoin (BTC) has been struggling to regain its momentum as its price remains stuck below the $27,000 mark. This prolonged period of stagnation has prompted Michael J. Kramer, a renowned market strategist, to voice his apprehensions about an impending market breakdown for Bitcoin. Taking to Twitter, Kramer shared his concerns, highlighting the potential risks and…
Bitcoin price is holding the key $26,550 support zone. BTC could start a major decline if there is a close below $26,550 and $26,400. Bitcoin started another decline and traded below the $26,850 level. The price is trading below $27,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming…
On May 20, Caitlin Long, the founder of Custodia Bank, retweeted and revived an intriguing question posed by Adam Back, CEO of Blockstream, on whether the number of the so-called Bitcoin “wholecoiners” has peaked. Is The Number Of Bitcoin Wholecoiners Peaking? Her question is when the number of wholecoiners, or individuals holding at least 1…
The Non-Fungible Tokens (NFT) industry has been a hub of innovation and growth over the past year, but as it approaches the midway point of 2023, the market is showing signs of maturation and change. According to a recent report by DappRadar, NFT sales could fall below $1 billion for the first time this year.…
Bitcoin has now dipped below the $27,000 level as on-chain data shows the miners have possibly been selling the asset recently. Bitcoin Miner Reserve Has Taken A Sharp Plummet Recently As pointed out by an analyst in a CryptoQuant post, miners have taken out about 1,750 BTC from their wallets during the past day. The…
Bitcoin (BTC) shrimp investors, affectionately dubbed the “underdogs” of the cryptocurrency world, are making waves in the market as they steadily accumulate the digital asset at an unprecedented rate. These smaller investors, often overlooked in favor of institutional giants, have recently reached a significant milestone, with the total supply of Bitcoin held by them surging…