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Toncoin (TON) investors are experiencing massive losses due to the instability of the cryptocurrency market. IntoTheBlock data indicates that 9% of all TON investors are profitable at the moment while 86% of investors are in the red. The other 5% of holders are at least covering their costs, which speaks to the current challenging conditions […]
The Bitcoin halving has catalyzed a wave of interest in creating DeFi capabilities for Bitcoin, the worlds first blockchain network.
On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) Ratio of the short-term holders is currently making a retest that could prove significant for BTC’s price. Bitcoin STH MVRV Ratio Is Retesting Its 155-Day MA Right Now As explained by on-chain analyst Checkmate in a new post on X, the short-term holder MVRV [...]
The post Bitcoin MVRV Ratio Is At A Critical Retest: Can Bulls Triumph? appeared first on Crypto Breaking News.
Ethereums bullish fractal pattern from 2021 consists of a five-point setup, which ETH is currently mirroring in 2024.
The SFC has secured a groundbreaking settlement to compensate public shareholders of Combest Holdings Limited, marking a significant regulatory milestone. (Read More)
Cardano has surged over 10%, breaking a key resistance level, and is now testing higher prices. Despite the bullish momentum, on-chain data reveals that long-term holders are beginning to take profits. The ratio of daily on-chain transactions in profit to loss has turned positive, suggesting that many investors are capitalizing on recent gains. Related Reading: Injective (INJ) Breaks $18 Resistance: Investors Expect Higher Prices As the market continues to evolve, ADA strives to maintain its uptrend, buoyed by positive sentiment and growing optimism for further price recovery. However, this profit-taking activity indicates that some investors are cautiously locking in gains, potentially leading to short-term price volatility. With high expectations for a continued rally in the coming weeks, investors are closely watching ADA’s performance to see if it can sustain its momentum. The next few days will be critical for confirming whether Cardano can hold above these levels and push toward new highs. Cardano Long-Term Holders Selling Cardano is testing local supply levels after a significant surge, with investors becoming cautious in their short-term strategies. Yesterday, the ratio of daily on-chain transactions in profit to loss reached 1.53, meaning that for every ADA transaction resulting in a loss, 1.53 transactions have generated profits. This metric highlights that many investors are taking advantage of the recent price gains, leading to some long-term holders selling their coins for profit. Data from Santiment supports this view, showing a slight decline in Cardanos Mean Coin Age and Mean Dollar Invested Age on September 11. These metrics track long-term holders’ behavior, reflecting the average age of ADA coins and the amount invested over time. A drop in these metrics suggests that holders who purchased ADA at lower prices are now taking profits, decreasing the average age of the coins in their possession. Despite this selling pressure, ADA still has the potential to maintain its bullish momentum if market conditions continue to push. Cardano could target higher prices, but the cautious behavior from seasoned investors signals that the rally might face resistance soon. Related Reading: Is Chainlink (LINK) $12 Breakout Imminent? Data Reveals A Rising Open Interest The coming days will be crucial for ADA, as it needs to hold above its current levels to confirm a continued uptrend. If buyers regain control and demand increases, Cardano could break through key resistance levels and aim for new highs. ADA Price Action Details ADA trades at $0.3565 after testing a key resistance at $0.36. The price has closed above the 4-hour 200 exponential moving average (EMA) at $0.3490. This is a significant indicator of short-term strength that ADA had respected as resistance since early August. This successful reclaim of the 4H 200 EMA is crucial for maintaining the uptrend. If ADA manages to retest this EMA and hold it as support, it would confirm a short-term bullish trend. Breaking and holding above this level suggests that ADA could continue to push upward. Investors and analysts see the next target as being in the $0.38 to $0.40 range. Related Reading: Cardano (ADA) Rally Brewing? On-Chain Metrics Suggest Investors Optimism However, if ADA loses this support level, the price could drop to lower demand zones, possibly retreating to around $0.33. This would signal a weakening current momentum and potentially spark further selling pressure. Featured image from Dall-E, chart from TradingView
The famous analytical service CryptoQuant has provided some interesting information about the actions of investors in the crypto market in the last two weeks. In a recent report, the firm highlighted that there is a clear dichotomy between short-term and long-term Bitcoin holders. Now that the short-term investors are leaving due to market volatility, the […]
A recent snapshot of Bitcoin’s holder landscape reveals intriguing insights. As of August 21, 8.08 million addresses held mere crumbs of BTC, worth less than $1, while a mere 10,130 addresses boasted impressive holdings of over $10 million. Meanwhile, a staggering 54.07 million addresses held BTC at its current price, […]
Tracking the percentage of STH supply in loss is crucial for understanding market sentiment and potential price movements. A high percentage of Bitcoin supply in loss indicates that a significant portion of recent buyers are holding positions at a loss, which can be a precursor to increased sell pressure if these holders decide to cut […]
The post Realized losses minimal despite 80% of STH supply being underwater appeared first on CryptoSlate.
Bitcoin (BTC) is currently in red regarding price performance, dragging the rest of the crypto market along with it. Amid the continuous bearish price action, the latest data has revealed that Bitcoin short-term holders now face losses compared to their initial purchase prices. Onchain data expert James Check highlighted this in a recent post on [...]
The post Over 80% of Short-Term Bitcoin Holders Underwater What This Means For BTC appeared first on Crypto Breaking News.
An analyst has warned that support levels weaken the more they are retested and Bitcoin is now doing a third consecutive retest of a major such level. Bitcoin Is Again Retesting The Short-Term Holder Realized Price As explained by CryptoQuant community manager Maartunn in a new post on X, BTC’s latest drawdown has led to it doing another retest of the short-term holder Realized Price. The “Realized Price” here refers to an indicator that, in short, keeps track of the average cost basis of the investors or addresses on the Bitcoin network. When the value of this metric is greater than the spot price of the cryptocurrency, it means the average investor in the market could be assumed to be holding a net unrealized profit. On the other hand, the indicator being below the asset’s value suggests the dominance of losses on the blockchain. Related Reading: Ethereum Seeing High Exchange Outflows, But Watch Out For This Bearish Signal In the context of the current topic, the Realized Price of the entire userbase isn’t of interest, but that of a specific segment of it: the short-term holders (STHs). The STHs include all the investors who bought their coins within the past 155 days. Now, here is a chart that shows the trend in the Bitcoin Realized Price for the STHs over the last few months: As displayed in the above graph, the Bitcoin spot price had slipped under the STH Realized Price in June, but it finally managed to break above the line halfway through last month. In the weeks since the asset has seen a couple of pullbacks back to the line, but it has managed to find rebounds each time. Now, after the latest decline, the coin’s price is once again retesting the level. Historically, the STH Realized Price has been a reliable point of support for the cryptocurrency during bullish periods. The explanation behind this pattern may lie in how investor psychology works. The STHs represent the fickle-minded side of the sector, who are sensitive to change. As such, whenever the price retests their cost basis, they may be prone to making panic moves. In times when the atmosphere in the market is bullish, the STHs may believe such a retest to merely be a dip opportunity, so they could decide to accumulate more. This could be why Bitcoin has found rebounds at the level in the past. While the level has generally been reliable indeed, this latest retest that BTC is facing is already the third within a narrow period. “Each time a level is tested, it becomes weaker,” notes Maartunn. Related Reading: XRP Bullish Signal: Shark & Whale Population Sharply Growing It now remains to be seen if the Bitcoin STHs still carry a bullish outlook on the cryptocurrency or if the constant pullbacks have put fear on their minds. BTC Price Bitcoin has continued its recent bearish momentum in the past 24 hours as its price has slid another 2% to reach the $64,700 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
On-chain data shows that Bitcoin is forming a pattern in its Total Amount of Holders, which last proved bullish for the cryptocurrency. Bitcoin Has Seen A Fall In Its Total Number of Holders Recently According to data from the on-chain analytics firm Santiment, BTC investors have been liquidating their wallets amid the recent bearish wave in [...]
The post Bitcoin Now Forming Pattern That Last Led To It Blasting Off appeared first on Crypto Breaking News.
PancakeSwap will airdrop 2.4 million ZK tokens to reward its community and boost zkSync PancakeSwap engagement.
Bitcoin has observed a crash below the $58,000 level today. Here’s what could be a potential cause for it, according to on-chain data. Bitcoin Long-Term Holders Have Just Taken Large Profits As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin long-term holders harvested a large amount of profits during the latest price drawdown. Related Reading: These Are The Altcoins In Buy Zone, Analytics Firm Reveals The on-chain metric of interest here is the “Spent Output Profit Ratio” (SOPR), which basically tells about whether the BTC investors are selling/transferring their coins at a profit or loss. When the value of this indicator is greater than 1, it means the holders as a whole are realizing a net profit with their selling right now. On the other hand, the metric being under this threshold implies the dominance of loss-taking in the market. In the context of the current topic, the SOPR of a specific segment of the user base is of interest: the long-term holders (LTHs). This cohort includes the investors who have been holding onto their coins since more than 155 days ago. The LTHs are considered to be the resolute side of the market, as they rarely sell regardless of whatever may be going on in the wider market. As such, the times that they do sell can be all the more noteworthy. It would appear that the recent Bitcoin market conditions have managed to break even these diamond hands, as the below chart for their SOPR suggests. As is visible in the above graph, the Bitcoin LTH SOPR has seen a high density of spikes above the 1 mark during the past day. This would suggest that these HODLers have moved some coins that were previously carrying significant profits. More particularly, the indicator hit a value of more than 10 during a lot of these spikes, implying that this group realized profits equal to over ten times the losses during those transactions. As the LTH SOPR spikes came just before BTC’s descent towards the levels under $58,000, it would seem possible that this profit-taking push from these normally-resolute investors was at least in part behind the crash. Another indicator, the Bitcoin Spent Output Age Bands (SOAB), has revealed the breakdown of these LTH transactions. From the chart, it’s apparent that the most active LTH segment during this selloff was the 5-year to 7-year group, meaning that most of the coins sold were previously dormant between 5 and 7 years ago. Related Reading: Crypto Analyst Says Next Bitcoin Target Is $78,700 If BTC Breaks This Resistance It’s hard to say why these old entities have suddenly decided to sell after sitting out a whole cycle, but if this is the start of a selling spree from them, then things might get even worse for Bitcoin. BTC Price Bitcoin had very briefly slipped under the $57,000 level during the latest crash, but the asset appears to have made some recovery since then, as it’s back at $57,700. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Bitcoin price is finally seeing some relief, but it faces significant resistance at the $68,000 mark, which would trigger over $700 million worth of short liquidations.
A new fund offers a way to gain citizenship in Portugal by indirectly investing over $500,000 into Bitcoin.
An analyst has pointed out how Bitcoin is back above the cost basis of the short-term holders, a sign that can be bullish for the asset. Bitcoin Is Back Above The Realized Price Of Short-Term Holders As explained by CryptoQuant community manager Maartunn in a new post on X, BTC has reclaimed the Realized Price [...]
The post Bitcoin Forming A Signal Thats Usually Very Bullish, Analyst Says appeared first on Crypto Breaking News.
On-chain data shows that Bitcoin long-term holders have potentially been selling recently, something that may explain BTC’s continued bearish momentum. Bitcoin Exchange Inflow CDD Has Registered Huge Spikes Recently As an analyst in a CryptoQuant Quicktake post explained, old cryptocurrency tokens have recently been deposited in large quantities in centralized exchanges. The on-chain metric of interest here is the “Exchange Inflow Coin Days Destroyed (CDD).” A “coin day” refers to a quantity that 1 BTC accumulates after staying dormant on the blockchain for 1 day. Related Reading: Bitcoin Crash Forced Weak Hands Into Largest Loss-Taking Since 2022 Lows: Report When a coin that had been sitting still inside a wallet is finally moved, its coin days counter naturally resets back to zero, and the coin days it had been carrying before the move are said to be “destroyed.” The CDD keeps track of the total amount of coin days being reset in this manner across the network. In the context of the current topic, though, the general CDD isn’t the one of focus, but rather the Exchange Inflow CDD, which only keeps track of the coin days being destroyed through transactions into wallets connected to exchanges. Now, here is a chart that shows the trend in the Bitcoin Exchange Inflow CDD over the past month or so: As is visible in the above graph, the Bitcoin Exchange Inflow CDD has registered some spikes of considerable scale this month. This would imply that many dormant coins have recently seen deposits into exchanges. Generally, spikes in the CDD correlate to movement from the long-term holders (LTHs), as these HODLers tend to accumulate large amounts of coin days. Therefore, the recent spikes in the Exchange Inflow CDD suggest that these diamond hands have been transferred to exchanges. Holders make transactions into exchanges when they want to use one of the services these platforms provide, which can include selling. The chart shows that the spikes earlier in the month had come when Bitcoin had plunged towards its lows, implying that the selling pressure from this cohort may have played a role in the crash. The latest spike, larger in scale than the others, has come while BTC has been trying to start a recovery rally from these recent lows. So far, BTC has had no luck, suggesting that the selling from the LTHs has potentially been holding the coin back. Related Reading: Chainlink Traders Capitulate After 10% Plunge: Bottom Here? It remains to be seen how the Exchange Inflow CDD behaves in the coming days and if any potential further spikes would impede Bitcoin in its path to recovery. BTC Price At the time of writing, Bitcoin is trading at around $57,900, up more than 4% over the past week. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
The current 560 million crypto holders could triple in number during the next two years, but user experience remains the biggest challenge.
A new report from Glassnode has revealed that the Bitcoin short-term holders took part in the largest loss-taking event since 2022 in the recent crash. Bitcoin Short-Term Holders Have Realized Huge Losses Recently According to the latest weekly report from Glassnode, less than 1% of trading days in the cryptocurrency’s history have seen the short-term holders taking higher losses than during the latest event. The “short-term holders” (STHs) here refer to the Bitcoin investors who bought their coins within the past 155 days. This cohort makes up one of the two main market divisions based on holding time, with the other group being called the “long-term holders” (LTHs). Statistically, the longer an investor holds onto their coins, the less likely they become to sell them at any point. As such, the LTHs reflect the stubborn side of the market, which can weather through crashes and rallies, while the STHs include the weak hands that easily react to FUD or FOMO. Related Reading: Chainlink Traders Capitulate After 10% Plunge: Bottom Here? Given this fact, it’s not unexpected that this latter cohort has again shown a strong reaction to the recent volatility in the Bitcoin price. And since it’s been a crash, the STHs have been panic selling at a loss. The below chart shows the trend in the Bitcoin Realized Loss specifically for the STHs over the past few years: The Realized Loss here is an indicator that keeps track of the total loss the STHs realize through their selling. Also, note that the metric is “entity-adjusted,” meaning that the metric includes the data for entities instead of addresses. An entity refers to a cluster of addresses that Glassnode has determined to belong to the same investor through its analysis. Transactions made between the wallets of the same investor would naturally not correspond to any real “loss-taking,” so excluding them from the data makes sense. As is visible in the graph, the Bitcoin STH Realized Loss registered a spike during the latest market downturn, implying that these investors made large transactions at a loss. At the height of this capitulation event, the indicator’s value hit $595 million, the largest loss-taking the cohort has shown since the FTX collapse that led to the bottom of the 2022 bear market. Related Reading: Bitcoin Now Forming Pattern That Last Led To It Blasting Off “Furthermore, only 52 out of 5655 trading days (< 1%) have recorded a larger daily loss value, highlighting the severity of this correction in dollar terms,” reads the report. From the chart, it would appear that large spikes in the metric have come around at least local bottoms in the price, so this loss-taking event may have also formed another bottom for Bitcoin. BTC Price At the time of writing, Bitcoin is trading at around $58,800, up 3% over the past week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
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