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Bitcoin’s Recent Price Drop Triggers Significant Liquidations Amid Inflation Concerns

Bitcoin experienced its first drop below the $67,000 mark since April 4th, resulting in over $850 million in liquidations within the past day. This downward trend has also affected other asset classes, including the SP500 and gold, indicating broader concerns regarding CPI and inflation across various sectors. https://twitter.com/santimentfeed/status/1778899101939011588?t=zrWby7ESGii2LhefluHpnA&s=19 Comparing the current phase of Bitcoin's market cycle to previous ATH breaks suggests that the current Euphoria phase, characterized by market price discovery, is still in its early stages. Historically, Euphoria phases have witnessed substantial price corrections exceeding -10%, with many surpassing 25%. However, the current market has only seen two corrections of approximately 10% since breaking its ATH. https://twitter.com/glassnode/status/1778798514639634583?t=fxgFKpV7RQgH6d-Fu_QwFw&s=19 Amidst a month of price fluctuations, traders are eagerly awaiting the resumption of the crypto bull run. One key indicator to monitor during this period is the Mean Dollar Invested Age, which […]

Will Izuchukwu April 14, 2024

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Bitcoin Surges To $70K Amidst Major Accumulation, Mixed Signals Ahead

Bitcoin surprised traders yesterday with a sudden surge to $70,000, catching many off guard. This ascent coincided with one of the largest accumulation days for Bitcoin stakeholders in recent memory. On Sunday alone, wallets holding between 10 and 10,000 BTC accumulated a total of 51,959 Bitcoin. This significant accumulation represents 0.263% of the entire available supply in just one day. https://twitter.com/santimentfeed/status/1772295815421362413?t=2LQ_YWxL7frGnc94PqHjRw&s=19 As the halving on April 19th approaches, it's expected that these wallets will continue to grow, potentially boosting the overall market caps across the cryptocurrency landscape. However, it's crucial that this accumulation doesn't come at the expense of large holders of stablecoins like USDT and USDC. These reserves, often referred to as "dry powder," are essential for maintaining the ability to quickly swap for more cryptocurrency when opportunities arise. Bitcoin Could Break Resistance Soon Following This Pattern Analysts, such […]

Will Izuchukwu March 26, 2024

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News

Bitcoin Rebounds Above $67.6K Amid Bullish Trader Sentiment

Recent market movements have sparked bullish sentiment among traders as Bitcoin surged back above the $67.6K mark, inching closer to its previous all-time high of $69.2K by a margin of 2.4%.  While uncertainties loom, the possibility of a new all-time high remains plausible, especially with potential inflows from whales and ETFs. https://twitter.com/santimentfeed/status/1765512896765923601?t=mjmVnBLhsPv0wtaxt0_V5Q&s=19 The rollercoaster of emotions experienced by traders on March 4, as Bitcoin flirted with its all-time high, transitioned into a vocal mix of buying and selling sentiments following the subsequent drop from the peak on March 5. However, a sense of optimism emerged as Bitcoin swiftly displayed signs of rebounding from its recent dip. According to insights shared by Ali Martinez, a key support level for Bitcoin is identified at $66,112, characterized by a significant volume of over 306,676 BTC transactions. The market's attention now shifts to the […]

Will Izuchukwu March 7, 2024

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Record Inflows And Bitcoin Surge Mark Strong Week For Digital Asset Investments

Last week witnessed a remarkable surge in digital asset investment products, with inflows reaching the second-highest weekly total on record at $1.84 billion.  Https://twitter.com/WuBlockchain/status/1764620997939069386?t=DYQQp5d9I26M0ZLVrxE6SA&s=19 The trading volumes in these investment products soared to unprecedented levels, surpassing $30 billion, while total assets under management approached an all-time high of $82.6 billion. Bitcoin, the flagship cryptocurrency, surged past the $65,000 mark today, coming within $4,000 of its all-time high of $69,044 set on November 10, 2021. The options block market saw significant activity over the weekend, with buy calls dominating nearly all orders, totaling over $5 million.  https://twitter.com/WuBlockchain/status/1764520214643999071?t=m89rGfXwUI8E_9-_FTI2sg&s=19 Monday witnessed another record high for bitcoin prices, with a notable increase in short-term bull spreads trading, pushing the ultra-short-term implied volatility close to 80%. The market sentiment is robust, reflecting a strong inclination towards further investment and entering the FOMO (Fear of Missing […]

Will Izuchukwu March 5, 2024

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News

Bitcoin And Ethereum Surge As Trading Volume Peaks

Today, Bitcoin (BTC) rallied by 4.57%, breaking the $59,000 mark, while Ethereum (ETH) also saw a 2.7% increase, reaching beyond $3,300. Coinglass reported that within the last 24 hours, a total of $233 million was liquidated, with $131 million attributed to short orders, resulting in the liquidation of 79,700 individuals. https://twitter.com/WuBlockchain/status/1762764443983962301?t=e-Ti9zMrs1KenrZYkpyU7w&s=19 ETF analyst Eric Balchunas of Bloomberg highlighted that on February 27, the daily trading volume of nine new spot Bitcoin ETFs, excluding GBTC, exceeded $2 billion for the second consecutive day. BlackRock IBIT's trading volume reached a record-breaking $1.3 billion, with over 100,000 unique transactions totaling $1.357 billion. https://twitter.com/EricBalchunas/status/1762589798827458693?t=204Q2lsmMGreaPBTDSEW3A&s=19 SoSoValue data revealed that on the same day, net inflows for Bitcoin spot ETFs hit $576 million. Notably, Grayscale ETF GBTC experienced a $125 million net outflow, while BlackRock's ETF IBIT recorded the highest net inflow of approximately $520 million, […]

Will Izuchukwu February 28, 2024

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News

Cryptocurrency Trading Volume Reaches $288 Billion In Past Week, Shows Santiment Data

Over the last seven days, cryptocurrency trading has amounted to a staggering $288 billion across 2,842 tracked assets, according to Santiment data. This reflects a notable 22% decrease compared to the previous week. https://twitter.com/santimentfeed/status/1755325204006658384?t=7sB5Scnuf8-txIgXsTAizA&s=19 Traders are exhibiting decision paralysis, anticipating the resurgence of Fear of Missing Out (FOMO) or Fear, Uncertainty, and Doubt (FUD) during the next significant market fluctuation. There's an argument that Bitcoin, Ethereum, and other cryptocurrencies will eventually align with the broader market, particularly considering their long-term correlation with the SP500.  https://twitter.com/santimentfeed/status/1755307603834605688?t=t2xONW0nDRGlcvmEwGboUw&s=19 The Expected Date For This Alignment Sets At Before The Bitcoin's April Halving This alignment is expected to happen before Bitcoin's April halving. It's an uncommon scenario where cryptocurrency investors are rooting for a strong correlation between coin market values and publicly traded companies, especially as stocks reach All Time Highs. During periods of little […]

Will Izuchukwu February 8, 2024

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News

Bitcoin Market Dynamics: Insights Into Recent Trends And Future Outlook

Recent data from Robinhood's Chief Brokerage Officer reveals interesting insights into the dynamics of the Bitcoin (BTC) market. Approximately 20% of BTC spot ETF transactions occurred within retirement accounts, indicating a notable presence of long-term investors in this segment.  Moreover, a significant portion of Grayscale's Bitcoin Trust (GBTC) sellers opted to reinvest their funds into other BTC spot ETFs, showcasing a strategic shift among market participants. https://twitter.com/WuBlockchain/status/1745993603162210325?t=Bt_uGwFURSRd3AULqaVfKw&s=19 Anthony Scaramucci, founder of SkyBridge Capital, attributes part of the current Bitcoin decline to selling pressure from GBTC and the FTX position. However, he expresses optimism, anticipating that this selling pressure will likely subside over the next six to eight trading days. https://twitter.com/WuBlockchain/status/1746014373427265809?t=Bt_uGwFURSRd3AULqaVfKw&s=19 4,000 Bitcoin Transfer To Monitor And Potential Bitcoin Price Drop To $34,000 Lookonchain data aligns with Scaramucci's perspective, indicating that four wallets associated with Grayscale Bitcoin Trust recently transferred 4,000 […]

Will Izuchukwu January 13, 2024

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News

Bitcoin Mildly Retreats from 20-Month High, Whale Transactions Surge

Bitcoin witnessed a modest retracement, sliding to $43.4K after achieving a 20-month high at $45.8K on January 2nd. The weekend introduces some mild declines, accompanied by heightened whale transactions, reaching levels unseen since June 12, 2022. Increased whale activity often hints at impending market shifts. During June 11th and 12th, 2022, whales displayed robust buying behavior during a dip, executing a total of 39,033 transactions valued at over $100k. Notably, the recent period of January 3rd and 4th recorded 34,874 transactions, surpassing the threshold of $100k, marking the most substantial whale activity since June 11th and 12th, 2022. https://twitter.com/santimentfeed/status/1743521700799738015?t=l2-gsWkTeDcYf_toNFEoxA&s=19 Approval Of  ETF Could Be The Right Trigger While the approval of the Bitcoin ETF acted as a catalyst for the recent surge in Bitcoin prices, another bullish narrative takes center stage: the upcoming Bitcoin Halving. Historically, this event has served […]

Will Izuchukwu January 6, 2024

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Featured

Top 4 BRC-20 Tokens To Keep An Eye On In 2024

In the wake of Changpeng Zhao's resignation and Binance's settlement with the US government, Bitcoin's resurgence and the rise of BRC-20 tokens present an intriguing landscape for cryptocurrency enthusiasts. As we enter into 2024, let's delve into these tokens, spotlighting four trending options that could capture the spotlight for cryptocurrency enthusiasts. BRC-20 tokens, operating on the Bitcoin network, offer a unique functionality akin to ERC-20 tokens on Ethereum. This translates to quicker settlements and lower transaction fees, all while benefiting from the robust security and stability inherent in the Bitcoin blockchain. The recent upswing in Bitcoin's value has drawn heightened attention to BRC-20 tokens, capitalizing on the momentum generated by the world's leading cryptocurrency. Here are four BRC-20 tokens gaining traction as we step into 2024: Ordinals (ORDI) - Pioneering Bitcoin inscriptions, Ordinals has opened avenues for embedding data directly […]

Will Izuchukwu December 14, 2023

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Market Analysis

BITCOIN PRICE ANALYSIS & PREDICTION (December 11) –  BTC Drops Sharply Amid Global Market Loss, Signals Potential Correction

Bitcoin slipped by almost 10% today near the $40,000 level but recovered briefly due to a sharp rejection. However, it remains bullish on a mid-term. But most altcoins are now painting red as they drop to a week low. Earlier this month, Bitcoin broke out of its long ascending channel and extended bullish to a new multi-month high. That breakout alone saw the price shoot well to exactly $44,700 before facing rejection last week. After failing to sustain momentum, it consolidated briefly and later closed that week's price below the $44,000 level. It opened short today and plummeted all the way from $43,789 to a low of $40,400 during the Asian session. The price recovered quickly to $42,100 but it is still looking weak on the daily chart. This breakdown may lead to a reversal if the sell-off continues. Considering […]

Michael Fasogbon December 12, 2023

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