JAN3 boss Samson Mow explains how US government may seize institutional Bitcoin
U.Today 2024-10-22 13:39
Bitcoin’s price has yet to reach a new all-time high amid the recent bullish run, as the sellers are defending their last line of resistance. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset has recently rallied above the $64K level and the 200-day moving average, located around the
Crypto Potato 2024-10-22 13:34
On-chain data shows a Bitcoin signal that has led to at least a 70% rally the last four times has recently formed for the asset once again. Bitcoin MVRV Momentum Has Seen A Bullish Crossover Recently In a new post on X, analyst Ali Martinez has discussed the recent trend in the Bitcoin Market Value to Realized Value (MVRV) Ratio. The “MVRV Ratio” is an indicator that keeps track of the ratio between the Bitcoin market cap and the realized cap. The realized cap here refers to an on-chain capitalization model that calculates the total value of the asset by assuming that the true value of any token in circulation is the price at which it was last transacted on the blockchain and not the current spot price. This last transaction price of any coin is likely to be its latest cost basis, so the realized cap is essentially a sum of the cost basis of all tokens in circulation. Put another way, this model represents the capital the investors have put into the asset. Related Reading: Bitcoin Investors Watch Out: Miners Showing Unusual Exchange Inflow Activity In contrast, the market cap, which calculates the total valuation of the total BTC supply at the current spot price, signifies the value the investors hold right now. When the value of the MVRV Ratio is greater than 1, the investors hold more value than they put in, so they are in a state of net profit. On the other hand, the metric under this threshold suggests the market as a whole is carrying a loss. Now, here is a chart that shows the trend in the Bitcoin MVRV Ratio and its 180-day moving average (MA) over the last few years: As displayed in the above graph, the Bitcoin MVRV Ratio has seen a surge recently as the asset’s price has gone through its recovery run, implying investor profitability has improved. With this increase, the indicator has now broken above its 180-day MA. Historically, a surge beyond this line has meant that the momentum of the metric has flipped to positive, which has proven to be a bullish predictor for the price. Related Reading: Dogecoin Breaks Away With 9% Surge: Why This Could Trouble Bitcoin In the chart, the analyst highlighted the previous rallies that followed a momentum flip in the MVRV Ratio. BTC appeared to have seen surges of at least 70% on each of the last four occasions. Going by this precedent, the latest change in the MVRV Ratio momentum to green may again lead to a surge for Bitcoin. It only remains to be seen, though, whether any such rally would be of a comparable scale to the previous ones or not. BTC Price At the time of writing, Bitcoin is trading at around $67,500, up almost 3% over the last week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
NewsBTC 2024-10-22 13:30
Bitcoin surged last weekend, meeting the bullish expectations of most analysts. BTC hit $69,363 last Sunday before pulling back as we entered a new week. A crypto analyst on the Altcoin Buzz podcast says Bitcoin’s recent pullback is temporary and expects the cryptocurrency to move upwards unless it falls below critical support. The analyst stated The post Bitcoin & Solana Surge: Market Prediction Hints at Further Upside appeared first on Coin Edition .
Coin Edition 2024-10-22 13:15
Bitcoin approaches $70K, aiming higher with strong liquidity and institutional support.
AMB Crypto 2024-10-22 13:00
According to recent insights from Cointelegraph, citing the on-chain analytics firm CryptoQuant, there has been a notable uptick in the number of **small Bitcoin transactions** (valued under **$10,000**) over the
CoinOtag 2024-10-22 12:55
The recent Bitcoin halving on April 19 has drastically altered the landscape for crypto miners. A market shakeup has ensued, affecting prices and mining rewards, leading to an intriguing sentiment
CoinOtag 2024-10-22 12:47
The U.S. presidential election is right around the corner, and while everyone’s focused on Trump vs. Harris, financial markets might not care all that much. According to the latest NBC News poll, Trump and Harris are neck and neck, but investors aren’t placing all their chips on the election changing much. In fact, many are
Cryptopolitan 2024-10-22 12:28
TechDev predicts Bitcoin could enter a new bull phase. Expectations rise for increased public interest in crypto markets. Continue Reading: TechDev Predicts Bitcoin’s Potential Surge Based on Historical Patterns The post TechDev Predicts Bitcoin’s Potential Surge Based on Historical Patterns appeared first on COINTURK NEWS .
CoinTurk News 2024-10-22 12:08
Bitcoin has recently seen an uptick in retail investor activity following months of subdued participation, according to a report by CryptoQuant analyst caueconomy. The analyst highlighted this in a post on the CryptoQuant QuickTake platform, disclosing how this return in retail demand could be one of the signs of a bull market. Related Reading: Bitcoin Investors Watch Out: Miners Showing Unusual Exchange Inflow Activity Bitcoin Retail Activity Returns After 4-Month Decline The CryptoQuant analyst noted that on-chain transaction volumes of up to $10,000—a key indicator of retail investment—have increased by approximately 13% in the past 30 days. This marks a shift after four months, during which smaller investors were largely inactive. caueconomy wrote: Note that in the last 4 months we have seen a decrease in the activity of these small investors, while whales maintained a high amount of transactions and absorption of coins. The analyst further explained that the increase in small investor activity is typically more sensitive to market sentiment and news than fundamental factors. Additionally, it provides an early indicator of capital flows into the Bitcoin network. As mentioned by caueconomy, this rise in retail demand, which hasn’t been observed since March, could signal the beginning of a trend toward “lower risk aversion” among non-institutional market participants. Notably, this increase in small investor activity comes at a time when Bitcoin’s price has seen constant increase in the past week, with the cryptocurrency recently attempting to reclaim the $70,000 mark. An Outlook On BTC’s Price—72% Rally Next? While retail demand appears to be returning, Bitcoin faces a minor retracement after its recent attempt to break the $70,000 price mark earlier today. The crypto asset reached a high of $69,431 earlier today but has since fallen by 2.4% in the past 24 hours, bringing the current price down to $66,951. Despite this slight dip, market sentiment among analysts remains optimistic about Bitcoin’s future potential. One notable analyst, Javon Marks, recently took to X to express his bullish outlook for Bitcoin. Marks highlighted a potential 72% price increase that could push Bitcoin to $116,000 or higher. Related Reading: Bitcoin Whales ‘Grew Substantially’ During Last Dip, Data Shows Large-Holder Accumulation According to his analysis, Bitcoin has been working around a key price level of $67,559. Despite the recent pullback, several bullish patterns—such as Hidden Bullish Divergences—suggest that Bitcoin may soon break above this level. If Bitcoin successfully crosses this threshold, it could increase price movement toward $116,652. Back to the basics for #Bitcoin (BTC) again and a >72% move to $116,000+ still looks likely ⚡️! In this setup, we see Bitcoin working on a key level at $67,559, after a monumental, more than 333% climb to reach + break above it before pulling back since March. Now, during this… https://t.co/iocZrLlRGx pic.twitter.com/XCrjd56w3W — JAVON⚡️MARKS (@JavonTM1) October 21, 2024 Featured image created with DALL-E, Chart from TradingView
NewsBTC 2024-10-22 12:00
The cryptocurrency market is currently experiencing a phase of correction, with a noted decline of 1.92% over the past 24 hours. Bitcoin’s recent retest of the $67,000 level has led
CoinOtag 2024-10-22 11:59
Uniswap and Aptos have defied today's trend.
Crypto Potato 2024-10-22 11:55