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Bitcoin (BTC) on-Chain Analysis: Lifespan Indicators Suggest Reversal Is Coming
Be[In]Crypto takes a look at Bitcoin (BTC) on-chain indicators, specifically the Spent Output Profit Ratio (SOPR) and the RHODL Ratio. BTC SOPR SOPR is an on-chain indicator that shows if the market is in a state of profit or loss. Readings above one (black line) show that the market is in aggregate profit, while those below one show aggregate loss. The main characteristic of bullish trends is that SOPR bounces at the one line instead of falling below it. SOPR broke down below one (black circle) in Jan. 2018. This suggested that the bullish trend had come to an end. Afterwards, the bottom […]
Kraken Daily Market Report for August 14 2022
Bitcoin Bitcoin Overview Daily spot trading volume: $381.0 million, 30 day average spot: $574.7 million. Total futures notional: $80.1 million. The top five traded coins were, respectively, Ethereum (↓2.4%), Bitcoin (↓0.6%), Tether (↓0.01%), USD Coin (↑0.0%), Solana (↓3.7%). Strong returns from Shiba Inu (↑34%), Chiliz (↑13%), and Dogecoin (↑12%). August 14, 2022 $381.0M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD ETH $1936.22 ↓2.4% $117.4M BTC $24313.60 ↓0.6% $90.0M USDT $1.00 ↓0.01% $68.9M USDC $1.00 ↑0.0% $18.1M SOL $44.86 ↓3.7% $12.6M…
NFTs Embed Crypto Fundamentals in Popular Culture
Depending on when you got into crypto, and to what extent you opted to be a maximalist for a certain cause (most likely either Bitcoin or, later, Ethereum, since these have the most single-minded communities), your initial perception of the sector would have been very different. In the early days, even that word sector would not be an appropriate descriptor, and crypto meant bitcoin. Initially, it was a fringe movement, with all the positives and negatives that being on the fringe consists of. To the good, alternative movements are subversive, disruptive and unlimited in their capacity to ignore convention and […]
Will Bitcoin and Ethereum Price Maintain The Bullish Trend In Coming Week?
Bitcoin The overall crypto market cap is now maintaining its range above $1 trillion, and the majority of the cryptocurrency assets seem to be thriving. The Bitcoin price, which was earlier struggling around $23,000, has reclaimed the $24,000 level and might close the weekend on a bullish note. However, the latest analysis has a different prediction. As per reports, Bitcoin (BTC) could find its bottom around $20,000. Capo, a popular crypto analyst took to Twitter saying “one last high to rekt early shorts.” Another trader named Jibon had a similar warning, as he advised his followers to wait and buy […]
Bitcoin to Demonetize Gold – Michael Saylor Predicts the Future of Gold Investment
In an interview with Kitco, Michael Saylor, the former CEO of MicroStrategy, predicted that Bitcoin would demonetise gold. “Gold was metallic money for the 19th century,” he said while adding that gold will not be adopted as money in the 21st century. He predicted that a spot-based Bitcoin exchange-trade fund might come in a year. He anticipates that the biggest cryptocurrency will develop into an asset of institutional investment grade that will be accepted by influential investors, lawmakers, and regulators. Saylor claims that due to the volatile nature of the crypto market, conventional economists are sceptical about it. “The volatility […]
This is When Ethereum (ETH) Price May Rise Above to Test the Upper Targets Close to its ATH
Cryptocurrency Ethereum price is soaring high displaying acute strength while the rise in the Bitcoin price is providing a substantial base. Further, while the star crypto remains undisturbed to some extent, the second largest asset may get a chance to propel high. However, the upcoming weekend may turn out to be pivotal as the price is expected to coil up as the sentiments are in favour of the ETH price. With the recent upswing that uplifted the entire crypto space moderately, the expectations of ETH price leading the next bull market hovers within the space. Therefore, the upper targets for […]
Ethereum (ETH) Leaving Exchanges at Rapid Rate This Week, While Bitcoin Moving in the Opposition Direction
On August 12, Lucas Outumuro, head of research at analytics firm ‘IntoTheBlock’ published weekly observations about the market. Lucas covered the last step of preparing Ethereum for the merge, its implications on Ethereum as well as staked ETH, and the upcoming ETHPow token. Lucas also evaluated the institutional demand for Bitcoin, by looking at the previous holding patterns and on-chain activity. According to Lucas, this week, Ethereum (ETH) is moving away from crypto exchanges at a rapid rate, while Bitcoin (BTC) moves in the opposite direction. Outumuro noted that Ethereum recorded nearly $1 billion in net outflows over the week, […]