An intriguing development has caught the crypto community’s attention as a Bitcoin whale deposited a substantial amount of BTC on the world’s largest crypto exchange, Binance. This significant move has sparked speculation about potential selling pressure and the subsequent impact on Bitcoin’s price. Notably, the massive deposit was recorded when Bitcoin showed signs of a rebound following…
On-chain data shows the Bitcoin Binary Coin Days Destroyed (CDD) has stayed low recently. Here’s what this says about the current market. Bitcoin Binary CDD Has Remained At Very Low Levels Recently According to data from the on-chain analytics firm Glassnode, this indicator attained high values during the 2021 bull run. To understand the CDD…
On-chain data shows the cost basis of the 1-3 months old Bitcoin investors has continued to provide support to the price recently. Bitcoin Has Once Again Bounced Off This Support Line As pointed out by an analyst in a CryptoQuant post, if this line doesn’t break, then BTC should be able to continue its bullish…
On-chain data shows the Bitcoin whales have accumulated 84,897 BTC during the last five weeks, something that could be bullish for the price. Bitcoin Whales Have Been Growing Their Holdings Recently According to data from the on-chain analytics firm Santiment, when whales last accumulated like this, the price jumped about 34%. The relevant indicator here…
Bitcoin price is rising above $27,200. BTC might gain bullish momentum if it clears the key $28,000 resistance zone in the coming sessions. Bitcoin is moving higher above the $27,000 and $27,200 levels. The price is trading above $27,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend…
Per a recent report, hedge fund and market maker behemoth Citadel is suing two former executives. The individuals identified as Leonard Lancia and Alex Casimo broke off from the company to start a high-frequency trading firm called Portofino Technologies. According to the lawsuit filed by Citadel Securities, Lancia, former Head of Europe Systematic Market Making…
Bitcoin price is holding support near $26,750. BTC might start a fresh increase if there is a clear move above the $27,550 resistance zone. Bitcoin is holding the key support at $26,750 and $26,600. The price is trading above $26,800 and the 100 hourly Simple moving average. There was a break above a key bearish…
On-chain data from Glassnode shows the Bitcoin whales have recently broken a pattern that was previously held through the halving cycles. Bitcoin Whale Growth Had Previously Been Diminishing With Each Cycle According to data from the on-chain analytics firm Glassnode, the current cycle is displaying an interesting deviation from the rule followed during the last…
On-chain data shows a Bitcoin indicator is currently retesting a crucial level that could decide the direction the market takes from here. Bitcoin Short-Term Holder SOPR Has Plunged To A Value Of 1 As pointed out by an analyst in a CryptoQuant post, the short-term holders are currently selling at their break-even mark. The relevant…
Pepecoin (PEPE) has been exhibiting a surprising level of calm in its price movement lately. However, contrary to what many may assume, this could be a red flag for Bitcoin (BTC) and the entire cryptocurrency market. According to a Bloomberg report, when an asset experiences an extended period of calm, it can be a sign…