Bitcoin (BTC) has been in a corrective phase for roughly three weeks amid declining demand and rising selling pressure. Although September has historically been a weak month for the digital asset, analysts believe the market could hit its bottom for this downturn as the month progresses. A weekly report by the crypto exchange Bitfinex revealed […]
Only around 9% of the Bitcoin supply is currently in the red, carrying up to 10% unrealized losses, according to Glassnode. Comparatively, the local bottom of this cycle saw more than 25% of supply at up to 23% losses, the analysts noted. BTC fell to around $75,000 on April 9 in a correction that took […]
After a week of choppy price action, Ethereum (ETH) declined by another 1.4% today as it struggles to hold fort near $4,300. The derivatives market, however, is showing resilience despite recent price weakness. In its latest post, CryptoQuant noted that Binance’s ETH open interest (OI) has continued to hold above $8.4 billion, even after the […]
According to historical patterns, Bitcoin sets its monthly high or low within the first 12 days of the month more than 80% of the time. “It’s been a good strategy to wait out the first few days of the month, as it generally sees choppy price action with a lot of shakeouts,” said full-time trader […]
Ether prices could tumble a further 20% from current levels if history rhymes and the correction deepens this month. Now that Ethereum has run the prior all-time highs in August, “I think ETH will drop back to its 21-week EMA [exponential moving average],” said ICT Crypto founder Benjamin Cowen on Monday. This could send ETH […]
Digital asset investment products staged a comeback last week, reversing prior outflows with $2.48 billion in inflows. August inflows now total $4.37 billion, which lifted year-to-date numbers to $35.5 billion. Activity was strong until Friday, when flows turned negative following the Core PCE release. The data dampened hopes for a September Fed rate cut and […]
Exchange supply levels for LINK continue to decline, following the same movement that began a few years ago. With profits and open interest at sky-high levels, will this ignite the next market upswing, or is there more to the story? Exchange Reserves Drying Up According to data from CryptoQuant as of the time of writing, […]
The Ethereum validator exit queue peaked at just over 1 million ETH on Friday as the asset maintained its price gains, and selling pressure and profit-taking increased. This is only natural, considering that Ether has more than doubled in price in a little over two months after spending a couple of years in the doldrums. […]
John E. Deaton, a cryptocurrency-focused lawyer who ran against Elizabeth Warren for a Senate seat in Massachusetts, believes XRP ETFs will attract substantial inflows once these products are greenlighted by the US Securities and Exchange Commission. The number of active applications continues to grow, with the most recent one aiming to launch a Monthly Option […]
Stablecoin reserves on centralized exchanges have climbed to a new record of $68 billion, even as supply growth has slowed. The latest milestone, recorded on August 22, was driven by $53 billion in USDT holdings and $13 billion in USDC balances. According to a report by the on-chain aggregator CryptoQuant, this marks a clear break […]