Bitcoin Surges 10% In A Week: Key Levels To Watch
The Bitcoin price surged past $73,000 in the past week, indicating an improved investor risk appetite despite the overwhelming sentiment. This recent rally has been attributed to several factors, but most notably the announcement of a temporary ceasefire in the US-Iran conflict. With the rise in the spot market, other pricing models are emerging with…
Bitcoin Market Caution Rises After Failed Breakout: Glassnode Data
The Bitcoin market remains subject to high uncertainty, with bearish sentiments at heightened levels. In the last week, the premier cryptocurrency attempted another failed breakout as prices faced stiff resistance at the $75,000 level. With Bitcoin now back to around $70,000, Glassnode data on the options market shows that traders are pushing for more downside…
Bitcoin Recovery Requires STH Profitability Above 50%: Glassnode
On-chain analytics firm Glassnode has explained how a flip in Bitcoin short-term holder profitability could act as a precondition for a sustained price recovery. Bitcoin STH Supply In Profit Is Currently Under 50% In a new Supply in Profit metric for the Bitcoin short-term holders (STHs). The Supply in Profit measures, as its name suggests,…
Bitcoin Options Update: Market Panic Fades But Traders Remain Defensive – Details
Bearish sentiments continue to dominate the Bitcoin market as the premier cryptocurrency looks to record a fifth consecutive monthly loss. Presently, prices are consolidating beneath the $70,000 mark, as market bulls struggle to force a decisive breakout above the resistance zone. Amid this choppy price action, data from the Bitcoin options market shows that traders…
Historical Pattern From 2017 Signals Bitcoin Price Crash To $35,000
Bitcoin is still playing out a series of price actions that look like they may be entering a deeper correction phase. A technical analysis shared on social media platform X by crypto analyst Chiefy suggests that Bitcoin is repeating the macro structures seen after the 2017 and 2021 cycle tops. If the pattern continues to…
XRP Market Structure “Very Similar” To April 2022, Glassnode Says
As XRP slides below $1.60, on-chain analytics firm Glassnode has highlighted how the current structure is looking similar to that of April 2022. XRP Is Fast Approaching Its Realized Price In a new Realized Price. This on-chain indicator measures the cost basis or acquisition price of the average address on the blockchain. When the spot…
Bitcoin Needs Deeper Liquidity Before A Real Recovery Takes Shape: Analysts
Bulls kept a collapse from happening this week when Bitcoin found buying interest above the mid-$80,000s. Prices bounced off a key range, and that breathing room has traders watching the market’s plumbing — not just the headline price. Reports note that the path to a lasting recovery is likely to go through improved liquidity, with…
Can Bitcoin Revisit $97,600? Glassnode Says Watch This
Bitcoin’s push to $97,600 last week drew a burst of bullish options activity, but Glassnode argues the derivatives tape looked more like short-dated positioning than broad-based conviction. In a Jan. 23 thread, the on-chain analytics firm pointed to a split between front-end call demand and longer-dated risk pricing that stayed anchored in downside protection. “Let’s…
Bitcoin Bottoming Phase Was Driven By Large Entities, Glassnode Data Shows
On-chain analytics firm Glassnode has pointed out how large entities drove Bitcoin accumulation during the November-December bottoming phase. Large Entities Accumulated BTC, While Smaller Investors Sold In a new post on X, Glassnode has talked about the recent Bitcoin investor behavior. “During the November–December bottoming phase, supply accumulation was primarily driven by larger entities, while…
Bitcoin Top Is Not In At $126,000, According To The Business Cycle, Here’s Why
Crypto expert Plan C has alluded to the business cycle to explain why the Bitcoin top isn’t in despite the flagship crypto’s run to $126,000 last year. This comes as BTC struggles to hold above the psychological $90,000 level, having lost most of its gains from the start of the year. Why The Bitcoin Top…