On-chain data shows Bitcoin long-term holders are dumping their coins as BTC plummets below the $17,000 level. Bitcoin Long-Term Holder SOPR Spikes Today As pointed out by an analyst in a CryptoQuant post, some BTC long-term holders seem to have taken profits in the past day. The relevant indicator here is the “Spent Output Profit…
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…
Cardano has been on the downside since ADA reached an all-time-high of $3.10 back in September 2021. As of writing, the 9th top crypto has dropped 5% in the last seven days. In comparison, major cryptocurrencies like Ethereum lost over 4.5%, and Bitcoin shed 2% in the same timeframe. However, CoinMarketCap displays a rise in…
The Bitcoin price has once again fallen below the $17,000 mark after it became known that the auditing firm Mazars will pause its work with Binance. Already in the last few days, rumors and FUD about Binance intensified. As NewsBTC reported, investors are worried that Binance is not keeping enough reserves on hand for all…
Jaran Mellerud of Hashrate Index recently released a ‘comprehensive analysis’ on the thesis that a Bitcoin miner capitulation could put massive selling pressure on the market, causing a crash. The topic has been a recurring part of the discussion in recent weeks as to whether the BTC bear market could be prolonged by the tight…
Bitcoin price failed to clear $18,000 and corrected lower. BTC is signaling bearish signs and might even start a fresh decline in the coming sessions. Bitcoin started a downward move and traded below the $17,600 support. The price is trading below $17,500 and the 100 hourly simple moving average. There was a break below a…
Bitcoin had been riding the euphoric high from the CPI data released on Tuesday which showed that inflation was finally slowing down in the United States. The digital asset had been able to clear $18,000 for the first time since the FTX collapse as a result of this. However, the FOMC announcement that would follow…
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…
The bitcoin price has seen a minor rally ahead of yesterday’s FOMC meeting and has held relatively strong despite the hawkish outlook from the US central bank. A look at the daily chart of BTC shows that the price managed to hold above $18,600. After an exuberant euphoria following the release of CPI data, bitcoin seems…
VanEck is one of a handful of companies that continues to fight for the approval of a Bitcoin Spot ETF. The U.S. investment management firm received a resounding rejection from the U.S. Securities and Exchange Commission in November 2021 after a three-year battle. Just six months later, on June 24 of this year, VanEck reapplied…