Bitcoin Faces ‘Mid-Cycle Wipeout’ as Markets Plunge: Glassnode Report
The latest report from onchain analysis firm Glassnode highlights a significant market downturn, marked by a 32% decline in bitcoin’s value, the largest drawdown of the current cycle. The study underscores the critical impact of this downturn on investor sentiment and the broader market dynamics. Glassnode Report: Bitcoin’s 32% Plunge Signals Mid-Cycle Market Low Glassnode‘s […]
Bitget and Nansen Study Highlights Community Impact on Token Price Predictions
Bitget and Nansen Research teams have released a comprehensive report detailing the significant role community engagement plays in predicting token prices. The collaborative study underscores the importance of combining onchain and off-chain metrics for accurate price forecasting. Bitget and Nansen Highlight Community’s Role in Token Price Forecasting Researchers from the crypto exchange Bitget, and Nansen, […]
Bitcoin activity drops to lowest level since 2010
The lack of retail participation is suspected of dropping Bitcoin wallet activities as celebrity memecoins attract speculators away from more established cryptocurrencies.This post was originally published on this site
Very few Bitcoins are actually moving, but the liquidity picture could change soon
Key Takeways Spot volume remains low and liquidity thin in Bitcoin markets Only 2.7% of the supply has moved in the last week; 7% has moved in the last month This compares to 7% of the total supply of Bitcoins which are likely lost Uncertainty is high due to tightening regulation and the macro climate […]
Report: 33 straight days of net withdrawals from crypto exchanges
Key Takeaways Regulators are clamping down hard on the US crypto industry, with recent lawsuits announced against Binance and Coinbase Bitcoin’s correlation with stocks is at a 5-year low, with the latter soaring but Bitcoin’s price suppressed by concerns around future of industry in US Exchanges have seen net outflows for 33 days in a […]
Report: Bitcoin mining stocks – extreme volatility and underperforming Bitcoin
Key Takeaways Bitcoin mining stocks have traded with significantly more volatility than Bitcoin itself Mining stocks have underperformed, as rising energy costs and increased competition has cut into profits Miners also overleveraged during the pandemic, purchasing new equipment with debt and holding onto Bitcoin stashes as prices fell Fees on the network rose with the […]
Bitcoin on-chain metric suggests “big move” is incoming, expert says
Bitcoin could see a volatile phase within the $40k and $22k price range, James Check, lead on-chain analyst at Glassnode says. BTC’s sell-side risk ratio is approaching an all-time low, with traders on both sides showing exhaustion after recent price action. The flagship crypto traded at $26,400 on Wednesday, about 3% down in the past […]
Why are Bitcoin transaction fees rising, and what are BRC-20 tokens?
Key Takeaways BRC-20 tokens were launched on Bitcoin in March 2023 Transaction fees spiked to all-time highs in May 2023 as network activity spiked Bringing memes and NFTs to Bitcoin has caused controversy Some argue the rising fees are vital to the security of the network, while others scoff at the activity for getting away […]
Less than $20 billion of stablecoins left on exchanges as capital continues to drain
Key Takeaways Nearly $24 billion of stablecoins have left exchanges since FTX collapsed last November The total marketcap of stablecoins has dipped $16 billion in that time Liquidity continues to fall in the crypto space, with capital moving elsewhere despite rising prices Strict regulatory climate in the US, high yields in trad-fi and uncertainty may […]
Nearly a million addresses hold more than 1 bitcoin, half the US median salary
Key Takeaways The distribution of Bitcoin can be analysed through the transparent nature of the blockchain Nearly 1 million addresses now hold more than 1 Bitcoin, equivalent to $27,500, or half the US median annual salary As Bitcoin collapsed in price last year, falling 77% from peak to trough, the 1 Bitcoin hurdle became far […]