After 216 days, the Bitcoin Market Value to Realized Value (MVRV) ratio finally broke above 1, making this accumulation the second longest after it took BTC prices 300 days to bottom up after the bear run of 2014-2015. It also signals the likelihood of another refreshing BTC rally after gains of last week. Bitcoin’s MVRV Breaks…
Streaming services have become a big part of the modern society. Theta Network is building that kind of tech for the Web 3 space. The network’s native token THETA has been going bullish in the past few weeks as a result of on-chain developments and the reversal of the sentiment on cryptocurrencies. According to CoinGecko,…
Bitcoin, the king of cryptocurrencies, has been crossing multiple crucial resistances since the start of the year. According to CoinGecko, the coin is now up 14% in the weekly timeframe, and trading at $23,008, making BTC break through the $22,000 and $23,000 resistance levels that have limited the crypto’s ascent. This year witnessed a complete…
As Bitcoin breaks out of the $21k level, many crypto analysts have begun projecting further rallies for the asset. One of the famous crypto strategists, Crypto Kaleo, recently gave a high price prediction for the world’s largest cryptocurrency. Addressing his over 550,000 followers on Twitter, Kaleo says BTC is preparing for a rally to $30,000.…
A Bitcoin on-chain indicator is currently forming a pattern that has previously led to significant selloffs of the cryptocurrency. Bitcoin 100-Day SMA Supply Adjusted Dormancy Has Rapidly Gone Up As pointed out by an analyst in a CryptoQuant post, the selloff could potentially be even stronger than the one seen in November 2018. A relevant…
Bitcoin has not moved as expected despite the news of Genesis, one of the largest crypto lenders in the world, filing for bankruptcy. This lack of negative movement from bitcoin in response to the news could cement the digital asset’s path to the upside in the coming weeks. Bitcoin Remains Unfazed By Genesis Despite the…
CryptoQuant data on January 20 shows an unusually sharp spike in Bitcoin miners’ outflow, an unexpected development considering the solid performance of BTC prices in the past few trading days. Miners’ Position Index (MPI) Rising The Miners’ Position Index (MPI) is up from -0.85 registered on December 31, 2022, to +3.25 on January 19, 2023. The…
The Bitcoin hash rate is trending at near all-time highs, per on-chain data on January 20, 2023. Bitcoin Hash Rate at 274 EH/s According to streams from BitInfoCharts, the Bitcoin network currently has a hash rate of 274 EH/s, up by almost one percent in the past 24 hours. Even at this pace, the hash rate is…
Bitcoin price is attempting a fresh increase above the $21,200 resistance zone. BTC could gain bullish momentum if there is a clear move above the $21,500 resistance. Bitcoin corrected lower, but it found support near the $20,500 zones. The price is trading above $21,000 and the 100 hourly simple moving average. There is a short-term…
GMX, the perpetual trading decentralized exchange (DEX) allowing up to 50X leverage, now generates more trading fees than the BNB Smart Chain (BSC) and Bitcoin. GMX Is The Third Most Active Platform According to statistics, GMX’s 1-day fee on January 19 was around $589,000, while BSC and Bitcoin on-chain fees, over the same period, stood at…