Search Results for: Coin Metrics

Bitcoin bulls have leveraged long positions using margin and futures markets, backed by positive momentum from spot Bitcoin ETF requests, heavy institutional inflow, and improved U.S. regulatory perspectives. This support helps sustain the $30,000 BTC price level in the coming weeks.

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.

Traders and investors await the upcoming FOMC meeting and Fed Rate announcement, which can significantly impact the cryptocurrency market, particularly Bitcoin and Ethereum. Recent analysis introduces an innovative method to examine the Bitcoin network’s hash power using nonce patterns, while the leading cryptocurrency faces resistance at the $26,250 level and finds support around $25,500.

Bitcoin price nears $27,000 but faces challenges from stricter regulatory scrutiny following FTX’s bankruptcy and a global economic crisis. Bitcoin derivatives markets indicate low probability of breaking above $27,500, suggesting a bearish market structure and a likely $25,500 support retest.

Ethereum faces a challenging week amid the US SEC’s charges against Binance and Coinbase for securities violations. Bloomberg Intelligence’s Mike McGlone discusses Ethereum’s growth obstacles, including diminishing supply, low demand, and potential regulatory scrutiny following its Proof-of-Stake Merge event.

Pepe Coin price gained 1% in the past 24 hours despite recent declines, with some indicators pointing to renewed growth potential. However, it remains a meme token lacking practical utility. Alternatives like presale tokens, such as ECOTERRA, provide similar opportunities for potential gains.

Bitcoin hodlers exit the capitulation phase, as analytics firm Glassnode unveils its “Long Term Holder Spending & Profitability” tool in their newsletter, “The Week On-Chain.” The new metric reveals a change in sentiment among long-term BTC holders, hinting at a brighter future for cryptocurrency.

Bitcoin’s recent recovery is influenced by the broader market’s gravity, and its sustained growth relies on cyclical trends in long-term supply. Glassnode’s report suggests long-term holders remain consistent in buying habits, and Bitcoin’s growth shows a strong correlation with the mainstream stock market.

Bitcoin mining company Canaan reported improvements in financial metrics during Q1 2023 amid market turbulence, with a net loss of $84.4 million. Despite reduced revenues and investment in research and development, Canaan’s operating losses reduced by 31.4% and income from mining activities rose 3.3% from Q4 2022.

Analyst Marcel Pechman discusses Bitcoin’s stagnation around $27,000, attributing it to macroeconomic factors. He explores the possibility of a breakout towards $29,000 but highlights less probable bullish gains due to current futures premium and options risk metrics.

Despite ongoing market uncertainties, Bitcoin margin and futures markets indicate a potential bullish breakout, with its primary resistance level at $27,500. Global inflationary pressures and the U.S. debt ceiling standoff may contribute to Bitcoin’s digital scarcity as an attractive alternative investment. Traders maintain a cautiously bullish stance as Bitcoin’s market structure appears favorable.

Bitcoin experienced an eight-day decline, resulting in a 9.4% correction, as it faced network congestion and increased transaction fees. Despite challenges and uncertainty surrounding regulatory changes, BTC derivatives metrics haven’t turned bearish, leaving room for a potential price rally.

Bitcoin price saw a brief dip below the 200-week moving average before rebounding, but on-chain data like the Puell Multiple indicate a bearish outlook, suggesting investors should consider booking profits. Factors affecting BTC prices include macroeconomic forces, false sell-off reports, and high transaction fees. It’s crucial for investors to conduct thorough research before making decisions to avoid unexpected losses.

As Bitcoin nears the $25,000 support level, its future trajectory is uncertain due to factors like increased regulatory scrutiny, concerns around the Grayscale GBTC Trust Fund, and the strong US dollar. Technical indicators suggest a potential bullish rebound if Bitcoin stays above $26,000, but challenges remain.

In April, memecoins’ rise led to a decline in NFT collectibles, with key metrics such as volume and active wallets plunging. However, the NFT lending market experienced a 16.13% increase in new users, indicating consistent growth in this niche sector. Cryptocurrency mining stocks also performed impressively, outperforming Bitcoin’s returns.

Bitcoin price has recently remained within an 8.5% range, causing a drop in the 40-day volatility metric. Investors are losing their risk appetite due to factors like recession concerns and the U.S. debt ceiling issue. Bitcoin futures and options data suggest traders lack confidence, leaning towards sideways trading. This multifaceted environment may have driven investors towards fixed-income trades with higher interest rates.

The meme coin $SPONGE is gaining momentum, securing a market cap of $27 million just three days after launching on decentralized exchanges. Surpassing Pepe in speed, $SPONGE is now listed on LBank and rumors suggest a possible Binance listing. However, investors should exercise caution due to potential volatility in meme coin markets.

A turbulent week for Bitcoin, marked by high transaction fees, Binance withdrawal outages, and miner sell-offs, has created uncertainty in the BTC/USD market. Despite concerns of an unsustainable bubble, industry experts maintain optimism while monitoring the impact of upcoming macroeconomic data releases.

Cardano (ADA) stays in this week’s $0.38-$0.40ish range, as on-chain metrics show strength in the network. Despite being down 87% from its 2021 peaks, ADA’s ecosystem hosts high development and Decentralized Finance projects, attracting large investments. Diversification with emerging projects like Ecoterra offers a balanced, high-reward investment strategy for crypto enthusiasts.

Ethereum’s transaction fees hit a 12-month high due to meme coin mania, with the pepecoin launch contributing significantly to network demand. Though meme coins generate substantial attention and market value, they also exhibit high volatility and cause unpredictability in network demand and transaction cost fluctuations for Ethereum.