Bitcoin exchange withdrawals and deposits can often be a way to gauge how investors are looking at a digital asset. This is why there are often products that track the movement of bitcoin in and out of exchanges. One of these is WhaleAlerts, a bot that tracks large transactions across various blockchains and recently, a…
Bitcoin was rejected north of $40,000 after a short live rally push it into previous highs. Persistent selling pressure and uncertainty around the global situation, and an incoming shift in central banks monetary policy, seems to be taking a toll on the crypto market. Related Reading | Bitcoin Falls Below $40,000 Trimming The Gains From US…
Bitcoin outflows have shown a spike amounting to 30k BTC today, leading to a plunge in the all exchanges reserve. Bitcoin Netflow Shows Deep Negative Spike As 30k BTC Exits Exchanges As pointed out by an analyst in a CryptoQuant post, the BTC exchange netflow showed a large negative spike earlier today. The “outflow” is…
Bitcoin (BTC) has retraced significantly today, a day after recording an 8% gain in response to President Biden’s executive order. Bitcoin, like the rest of the crypto market, is under pressure, falling more than 5% and falling below $40,000 levels. Bitcoin is currently trading at $39,324 with a market worth of $745 billion as of…
Bitcoin gained bearish momentum below $40,000 against the US Dollar. BTC is at risk of more downsides towards the $37,200 and $36,600 levels. Bitcoin started another decline below the $40,000 and $39,000 levels. The price is trading below $39,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with…
CEO of MicroStrategy Michael Saylor remains one of the most vocal supporters of bitcoin. Countless times in the past, Saylor has always lauded the benefits of the digital asset, which he says is the best investment. His convictions are shared by his firm which remains the publicly traded company with the largest bitcoin holdings in…
On-chain data shows the USDC exchange inflow has spiked up. Historically, stablecoins have provided dry powder for kicking off new Bitcoin rallies. USDC Exchange Inflow Sharply Rose To High Values Recently As explained by an analyst in a CryptoQuant post, almost one billion USDC has flowed into exchanges recently. Past pattern suggests this may lead…
Data shows the Bitcoin trading volume now seems to be stabilizing at higher values than 2022’s average, but given the trend in the metric this year so far, it may not last too long. 7-Day Average Bitcoin Trading Volume Has Remained Fixed Around $5 Billion Recently According to the latest weekly report from Arcane Research,…
Bitcoin is still struggling to break out of the cage that is the $40K-$44K price range. Reaching this level has not been the problem for the digital asset, but successfully breaking above it and maintaining consistent momentum above the $45,000 price point has been the biggest hurdle. Consolidation continues to be the name of the…
Bitcoin slide to $37,000 on March 7 sparked some purchasing interest, resulting in a price bounce to $39,000 on March 8. Surprisingly, the upward sloping trendline that served as an accumulation zone for traders in 2022 was the origin of the upside retracement move. Price Fall Signals Retracement Bitcoin price established another lower high on…