Since February 2023, the Bitcoin MVRV Ratio has dipped below -8.40% on four occasions, each time triggering significant price jumps of 63%, 100%, 92%, and 28%. With Bitcoin currently priced under $60,000 and the MVRV Ratio at -8.96%, this might be an ideal time to buy the dip. Since February […]
Tag: bitcoin
Bitcoin Price Plummets 16% Amid Market Turmoil And Mt. Gox Repayment News
Bitcoin (BTC) has experienced a sharp decline, dropping over 16% since reaching its all-time high of more than $73,000 in March 2024. Currently trading below $62,000, Bitcoin’s daily Relative Strength Index (RSI) has hit oversold territory, a condition that has previously led to significant price surges of 60%, 63%, and […]
Digital Asset Outflows Reach $584M, Yet Smart Traders Accumulate ETH Amid Dip
According to CoinShares, digital asset investment products experienced significant outflows totaling $584 million last week, shaving off US$1.2bn in total. Bitcoin led the pack with outflows of $630 million, while Ethereum saw $58 million in outflows. In contrast, multi-asset products attracted inflows of $98 million, suggesting that investors view weakness […]
Bitcoin And Altcoins Suffer As Market Sentiment Turns Gloomy
The last week of June began on a somber note with Bitcoin falling 5%, dropping its value below $62,000. This decline triggered a ripple effect across the altcoin market, particularly affecting the highly volatile meme cryptocurrency sector. Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, experienced a 5.5% […]
BITCOIN PRICE ANALYSIS & PREDICTION (June 24) β BTC Eyes $60k As Next Target Level But Will This Support Line Holds?
Bitcoin’s fear and greed index neutrally stands at 55 after weeks of decline. It just lost grip again and fell into the $61k range, looking poise for a massive sell-offs. This crucial support line may pose a threat. Bitcoin’s daily outlook is getting uglier by the day following a steady […]
Bitcoin Faces Supply Pressure And Miner Sell-Off As Trading Week Ends
As the trading week comes to a close, Bitcoin is hovering in the $63,000 to $64,000 range. A significant supply barrier has formed, with approximately 5.45 million addresses having acquired 3.03 million BTC between $64,300 and $70,800. This concentration of holdings at higher prices poses a risk of a steep […]
Bitcoin and Ether Decline As Chainlink Sees Significant Token Movements
Despite the stock market reaching new highs, Bitcoin and Ether have both declined over 10% from their yearly peaks. Other major cryptocurrencies such as Solana ($SOL), Cardano ($ADA), and Chainlink ($LINK) have experienced even steeper drops, each falling more than 25% from their recent highs. Despite the stock market reaching […]
Bitcoin Faces Bearish Trend And Decreased On-Chain Activity; MicroStrategy Continues Accumulation
Bitcoin is experiencing a downturn in exchange-related on-chain activity, indicating decreased investor interest and reduced network usage. Bitcoin's trend continues to lean bearish, currently hovering just above a critical demand zone. Keep an eye on the 61.9k to 63.8k range for potential support https://t.co/SzLyfHHNHM pic.twitter.com/gVtDu8DZj7 — IntoTheBlock (@intotheblock) June 21, […]
Bitcoin Faces FUD Amid Whale Accumulation And High Holder Profitability
Bitcoin’s price range between $65K and $66K has fostered an environment of fear and disinterest among traders, leading to widespread capitulation. This extended level of Fear, Uncertainty, and Doubt (FUD) is rare, as traders continue to give up. However, this period of trader fatigue, combined with whale accumulation, often leads […]
Bitcoin’s Drop Contrasts With S&P 500 Rally Amid Unique Market Dynamics
Despite the S&P 500’s ongoing rally, Bitcoin has experienced a significant decline, marking a rare divergence between these sectors since the stabilization following the FTX collapse in late 2022. Typically, such market conditions would see cryptocurrencies experiencing a relief bounce to catch up. π Bitcoin's plummet has come in spite […]
Bitcoin Holders Face Largest 3-Day Drop In Non-Empty Wallets Since March As Ethereum Wallets Rise
Bitcoin holders have experienced their largest 3-day drop in non-empty wallets since just before the March 14th all-time high. Unlike the previous surge, Bitcoin’s value has been declining, prompting traders to liquidate out of fear of further drops. Meanwhile, the number of Ethereum wallets continues to grow. π Bitcoin holders […]
BITCOIN PRICE ANALYSIS & PREDICTION (June 17) β BTC Extends Sell-Off After Losing 6% In A Week, Eyeing $60k
Bitcoin’s dominance has not changed much since it lost the $70k level two weeks ago. However, the price is down by 6% weekly following the latest reductions. Its fear and greed index now stands neutrally at 55. Starting this month on a strong note, Bitcoin encountered resistance and halted buying […]
Market Fear Surges As Bitcoin Plummets To $65K: Whales Sell, Miners and Retail Investors React
The cryptocurrency market is gripped by fear as Bitcoin has dropped to $65,000, its lowest value since May 16th. This decline has sparked a surge in mentions of selling or taking profit, indicating heightened panic among small traders. Such sentiment often precedes a temporary bounce, presenting potential buying opportunities amid […]
Bitcoin Supply On Exchanges Hits Lowest Level Since December 2021 Amid Increasing Mining Costs And Whale Activity
The supply of Bitcoin on exchanges has plummeted to its lowest level since December 2021, with only around 942,000 coins available. In contrast, Ethereum and Tether are seeing increased inflows. Historically, the limited supply of Bitcoin available for sale reduces the overall drop-off risk for the entire cryptocurrency market. π […]
Bitcoin ETF Volume Reaches Peak As Market Conditions Stir Turnaround Hopes
Bitcoin ETF trading volume surged to its highest level since May 15, according to data from the seven largest ETFs. This spike in volume often signals a potential price turnaround for Bitcoin. π Bitcoin ETF volume has jumped to its highest level since May 15th, according to data from the […]
Bitcoin Experiences 4% Decline Amidst Market Volatility And Historical Q3 Struggles
BitcoinΒ saw a sharp 4% drop today, falling below the $67,000 mark. Historically, Bitcoin has faced challenges during the third quarter, with an average return of 6.49% and a median return of -2.57%. Beware! Historically, #Bitcoin has struggled in Q3, with an average return of 6.49% and a median return of […]
Digital Asset Inflows Surge With Bitcoin Leading The Pack, Bullish Indicators Point To Continued Rally
Last week, digital asset investment products experienced significant inflows totaling $2 billion, pushing the cumulative inflows over the past five weeks to $4.3 billion. Bitcoin led this influx with a substantial $1.97 billion, while Ethereum saw its largest weekly inflow since March, totaling $69 million. Last week, digital asset investment […]
BITCOIN PRICE ANALYSIS & PREDICTION (June 10) β BTC Stays Calm Under $70k To Negotiate Next Major Move, Where?
Following the recent shakeout in the global market, Bitcoin BTC lost a key psychological level and closed at a loss last week. It is still weak on the day, looking for solid ground to resume its bullish trajectory.Β Β Last Friday came with a big shockwave in the entire crypto […]