Search Results for: Glassnode

Bitcoin, despite market turbulence, steadfastly remains above the $29,000 mark and is showing signs of a thriving bull market. Growing institutional interest, solid technical and on-chain indicators, and an increase in new Bitcoin wallet creations suggest a positive future for Bitcoin.

“On July 24, Bitcoin experienced a flash crash to $29,000, attributed to substantial Bitcoin holders potentially liquidating their positions. While this caused a stir, Bitcoin’s main trading metrics maintained a bullish outlook, with professional traders largely retaining their leverage longs. A sudden increase in whales’ inflow to crypto exchanges was reported amidst these dynamics.”

The Ethereum network may be overpriced, as suggested by the high NVT reading of 120. Despite the potential for a price drop, current holders’ profit levels and the decrease in Ethereum’s liquid supply might mitigate this fall. The ETH supply drop since the Shapella upgrade and a steady increase in staked ETH for validation provides a likely firm bottom. Nonetheless, traders need to be watchful of potential risks amid looming bearish scenarios.

“Long-term Bitcoin holders, also known as “HODLers”, hold three-fourths of the entire circulating supply, with an accumulated increment of 62,882 BTC this month, says blockchain analytics firm Glassnode. The surge represents limited liquidity, implying a decreased sell-side pressure, but also potentially increasing price volatility.”

BlackRock’s application for a bitcoin spot exchange-traded fund (ETF) has reinvigorated the cryptocurrency market and positively influenced Bitcoin’s value. However, Bitcoin futures traders show reluctance towards high-risk dealings. Observations indicate that spot prices may increase in the near future, as long-term holders acquire more Bitcoins, even as regulatory uncertainties underlie.

Following a quiet period of low volatility, crypto analysts anticipate a massive Bitcoin market shift, with potential to outdo its 40% January gains. Current market conditions resemble those from early January; a period of compression ended with an explosive surge. However, the market’s unpredictable nature and numerous influences makes forecasting exact outcomes challenging.

“Despite Bitcoin’s struggle to maintain its position above $30,000, historical on-chain activities and empirical data suggest bear market days are behind us. Long-term holders remain unscathed, while short-term counterparts pose a risk by selling. PlanB’s Stock-to-Flow model maintains firm traction within the community, suggesting positive price implications post Bitcoin’s halving.”

The rapid surge of 1INCH tokens held in wallets linked to the exchange platform indicates potential price volatility. This comes after the recent downtrend in 1INCH tokens, which analysts suggest could be due to a ‘whale’ selling off a significant portion of their tokens. Such shifts could lead to short-term price volatility but also present potential benefits like liquidity and asset diversity.

“The recent Bitcoin price dip, coupled with a rise in Accumulation Trend Score and Total Balance in Accumulation Addresses metrics, signals strong accumulation amid price dips. This reflects investors’ growing interest and confidence in Bitcoin’s long-term prospects, despite current market volatility.”

“Crypto market trends show Bitcoin holding comfortably above the $30,000 mark, driven by high retail demand for products like Bitcoin ETFs. Despite expected short-term liquidity dips, trading volumes of Ether and other altcoins are set to rise.”

Bitcoin futures liquidations have hit the lowest level since April, prompting traders to re-evaluate their strategies. This implies that there’s a risk-averse sentiment emerging among traders; they open more positions but utilize lower leverage. Notably, expectations are gaining momentum for potential sideways trading in the coming months.

“Less than 12% of Bitcoin’s total supply currently resides in exchange wallets, a shift in supply dynamics that could favor bulls and may signal an economic trend. The concept of “true price discovery” comes into focus – a market condition reflecting fair asset value based on available information.”

“The future of blockchain is significantly affected by major market players like BNB Chain and Solana blockchains. The surge in their token value was pushed by Binance’s announcement of Arkham’s token sale, resulting in a $1.2 billion rise in trading volume. Meanwhile, the growth of Solana’s DeFi ecosystem and the Mantle Network’s planned $200 million fund show potential. Even as Bitcoin maintains stability, new endeavors like Abracadabra Finance’s deployment on Kava blockchain suggest rapid evolution in staking, network development, and token sales.”

“Despite Bitcoin’s roller-coaster price swings, the key to successful investment lies in understanding its repetitive mid-point tests and not relying on leverage, but using diligent strategies over a diverse portfolio. Don’t mistake market sentiment for blockchain’s underlying value.”

“Ethereum’s price has been struggling to surpass $2,000, even as Bitcoin’s value increases. Recent weak trading behavior signals potential decline, but the rise in liquid staking derivatives like Lido’s stETH could counteract the negative trend. Meanwhile, the staking contract deposits match exchange inflows, fostering hope for a bullish market for Ethereum.”

“Despite an upward trend in large bitcoin holders, known as whales, there was a significant reluctance to move these assets onto centralized exchanges according to Glassnode data. This could potentially point to a bullish sentiment amongst investors, influencing their behaviour due to factors such as exchange risks and regulatory hindrances.”

“Crypto trading volumes surged 14% in June, attributed to anticipation of spot bitcoin ETF proposals. However, regulatory scrutiny shadows this optimism, emphasizing a need for investor safeguards potentially conflicting with the autonomy inherent to crypto enthusiasts. The path to wider acceptance is complex.”

“Despite looming regulatory uncertainties and global competition, there’s a surge in institutional demand for Bitcoin, leading to multiple ETF applications. The crypto market remains resilient despite economic uncertainties, reinforcing blockchain’s role as a game-changer, innovator, and boundary-breaker in finance.”

“The ongoing market uncertainties highlight potential impacts of the imminent $4.7 billion Bitcoin option expiry, possibly solidifying Bitcoin’s $30,000 price as long-term support. Conversely, regulatory obstacles, $128 million mining sell-pressure, and hints of additional rate hikes pose significant challenges for BTC traders.”

Market researchers warn that Bitcoin speculators may sell if the price surpasses $33,000, potentially causing a market correction. Key indicators like MVRV and SOPR suggest short-term holder profit-taking risk and seller exhaustion, making $33,000 a critical level for investors to watch.

Crypto enthusiasts hope US trading will boost Bitcoin’s price due to ETF hype from institutional product applications submitted in the US. Glassnode confirms the trend, suggesting it could be part of a long-term shift in US-led demand. Analysts predict that any downside will likely be experienced as dips during uptrend continuation.

Despite a recent 1.1% loss, Bitcoin’s market structure shows an uptick above all applied moving averages and a short-term descending trendline since mid-April, suggesting buyer dominance. With supply held across exchanges at its lowest since 2017, reduced selling pressure and increasing demand set the stage for a potential rally.

Bitcoin reaches an All-Time High above $31,000 with bullish market sentiments, as on-chain signals suggest further uptrend. Over 1.8 million Short-Term Holder coins are now profitable, and long-term HODLers’ commitment reduces overall supply, supporting Bitcoin’s price. Favorable fundamentals and positive news solidify the bullish mid-to-long term outlook.

Bitcoin traders anticipate a potential $28K retracement as BTC price retains 20% gains, with expectations of a modest correction offering lucrative entry points for long positions. The current price performance and volatility align with historical trends, suggesting upcoming dip-buying opportunities.

Bitcoin is experiencing the fastest accumulation rate in six months, with illiquid entities now holding a record high of 15,207,843 BTC. This growing trend signifies confidence in Bitcoin’s future price, despite macroeconomic uncertainty and regulatory risks. The market appears to be in a period of quiet accumulation, suggesting an undercurrent of demand.

Bitcoin markets remain steady, with traders cautiously awaiting new direction cues and focusing on macro factors and market sentiment. On-chain analysis reveals key support levels, while Grayscale Bitcoin Trust attempts to narrow its discount versus the BTC spot price. Recent events have impacted the Crypto Fear & Greed Index, with developments closely watched in the coming weeks.

The crypto market faces uncertainty with Bitcoin showing a bearish trend of over 3% this week. Key insights from Santiment and Glassnode reveal a rise in BTC whale transactions, while Bitcoin’s Spent Output Profit Ratio faces difficulty. Analysts emphasize the importance of Short-Term Holder Cost-Basis and thorough market research for investors.

Bitcoin’s daily RSI, Cipher B readings, and Bitcoin Risk Signal are reflecting similarities to Q3 2020, just before BTC surpassed its all-time high. Glassnode co-founders Yann Allemann and Jan Happel identify these metrics as indicators of potential significant reversals and rallies, showing promise for the cryptocurrency’s long-term prospects. However, investors should exercise caution due to market unpredictability and volatility.

The cryptocurrency market is experiencing increased HODLing and a shift of capital from altcoins to major cryptocurrencies like Bitcoin. Recent data indicates a growing preference for Bitcoin, with its dominance rising to 47.6%. Despite this, investors should remain cautious and vigilant, as market conditions can change rapidly.