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Author: Opeyemi Sule

Bitcoin Back Above $63,000: Will FOMO Fuel Another Rally Or Lead To A Bust?

The Bitcoin price made a strong comeback on Friday after witnessing a significant amount of bearish pressure throughout the past week. On Wednesday, May 1, the premier cryptocurrency fell below the $60,000 mark for the first time in almost two months. On Friday, May 3, the price of BTC recovered above the $60,000 level, going as high as $63,000 in the past day. However, the question is – can the Bitcoin price enjoy a sustained rally following this latest resurgence? How Long Will The BTC Price Rally Last? In a recent post on the X platform, Santiment pointed to a shift in investors position and sentiment on the Bitcoin price following the recent surge above $62,000. According to the on-chain analytics site, traders on the Binance platform are going from liquidated shorts to longs after the latest price increase. Related Reading: Shiba Inu Stands Strong: Over 650K Wallet Addresses Still Profitable Amid Recent Price Drop While this shift in sentiment might signal renewed optimism in the premier cryptocurrency, Santiment sounded a warning bell for enthusiasts watching the Bitcoin price and looking to get into the market. The blockchain firm said in its post: For the rally to continue, we don’t want to see FOMO rising too much higher than what it appears to be now. Source: Santiment/X FOMO, or fear of missing out, is a phenomenon where investors hastily purchase in-demand assets out of fear of missing out on potential gains. While it can drive the asset to a higher price in the short term, excessive FOMO often results in unsustainable bullish trends and subsequent downturns. What’s more, crypto prices tend to move in the opposite direction of the crowds expectations. Hence, if the majority of traders are betting on the Bitcoin price to rise, there is a great likelihood that the cryptocurrencys value will experience a drop. Behind The Bitcoin Price Surge As of this writing, the Bitcoin price stands at around $62,871, reflecting a substantial 6% increase in the last 24 hours. Although the catalyst for this latest Bitcoin rally remains unclear, on-chain data shows that recent whale activity might have triggered the bullish momentum. Related Reading: Crypto Expert Turns Bullish On Bitcoin, Predicts Quantitative Easing Will Begin Soon In a recent post on X, CryptoQuant CEO and founder Ki Young Ju revealed that Bitcoin whales acquired 47,000 BTC in a single day. Ju also said that while this class of investors might have included ETF-associated addresses, the recent spike in balances for whale addresses is not ETF-related. #Bitcoin whales accumulated 47K $BTC in the past 24 hours. We’re entering a new era. pic.twitter.com/SXgzToN8GU Ki Young Ju (@ki_young_ju) May 3, 2024 Bitcoin price fails to hold above $63,000 on the daily timeframe | Source: BTCUSDT chart from TradingView Featured image from iStock, chart from TradingView

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Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Apr 08, 2025 12:05

Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000

Crypto analyst Melika Trader has warned of a volume drop that could trigger a 60% Bitcoin price crash. The analyst provided an in-depth analysis of what this price crash could mean and if it would mark the end of the bull run. How The Bitcoin Price Could Crash By 60% And Drop To $49,000 In a TradingView post, Melika Trader revealed how the Bitcoin price could crash by 60% and drop to $49,000. The analyst noted that BTC is hanging just above a critical support zone, an area he claimed many traders recognize as the most important support level from a volume perspective on Binance. Related Reading: Analyst Says Bitcoin Price Has Entered The Ideal Buy Zone, Heres Why His accompanying chart showed that the Bitcoin price could suffer a 60% drop once it loses the former trend line at $75,000. The flagship crypto is also in danger, having lost the critical support at around $83,000. This drop to $49,000 would bring BTC back toward the high-volume range near $30,000. This provides an ultra-bearish outlook for the Bitcoin price. However, Melika Trader raised a twist, stating that only 20% of traders might actually lose. He noted that, according to Binances volume profile data, the majority of buying activity and position accumulation happened below $35,000. The analyst further mentioned that most long-term holders and smart money entered during the 2022/2023 accumulation range. The Volume Profile Visible Range (VPVR) is also said to show significant support below the current Bitcoin price, with minimal trading volume at higher levels. Melika Trader remarked that only a minority of traders bought BTC during its late-stage bull run above $70,000. Meanwhile, the majority of investors are still in profit or break-even, even if the Bitcoin price retraces back to its base. As such, most traders are safe, as BTC risks a drop to as low as $49,000. Why BTCs Bull Market Is Over CryptoQuants CEO, Ki Young Ju, recently asserted that BTCs bull market is over amid the Bitcoin price decline. He alluded to the Realized Cap metric to explain his confidence that the bull run is over. The CryptoQuant CEO noted that if Realized Cap is growing but Market Cap is stagnant or falling, it means capital is flowing in but prices arent rising. Related Reading: Why Buying Bitcoin Now Is Better Than Later As BTC Price Consolidates Within Falling Wedge Ki Young Ju noted that this is a clear bearish signal, and this is what is currently happening. Capital is entering the market right now, but the Bitcoin price isnt responding, which he claims is typical of a bear market. The CryptoQuant CEO explained that even large purchases like MicroStrategys arent pushing prices up because there is too much sell pressure at the moment. Ki Young Ju again affirmed that current data points to the Bitcoin price being in a bear market. He noted that sell pressure could ease anytime but warned that historically, real reversals take at least six months. As such, the CryptoQuant CEO believes a short-term rally seems unlikely. At the time of writing, the Bitcoin price is trading at around $77,000, down over 7% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com

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Bitcoin Market Dynamics Still Positive Post-Halving Bitfinex Analysis

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Apr 24, 2024 12:05

Bitcoin Market Dynamics Still Positive Post-Halving Bitfinex Analysis

In the midst of the dramatic changes that have occurred in the cryptocurrency space after the Bitcoin halving event, Bitfinex provides a perceptive analysis that reassures investors that the market dynamics of BTC have remained positive in the post-halving period. Bitfinex examines the on-chain data and finds encouraging signs for Bitcoin in spite of the United States economy’s current state of uncertainty in its most recent Alpha report, which was released on April 22. Bitcoin Market Dynamics Remains Bullish According to the Hong Kong-based crypto platform, exchange withdrawals of Bitcoin are currently at levels not seen since January 2023. This simply indicates that a lot of investors are putting their assets in cold storage in expectation of price rises. Related Reading: Bitcoin Halving: Anticipating Price Impact, Miner Challenges, And Long-Term Outlook Also, the exchange noted that long-term investors’ aggressive selling has not yet caused the usual pre-halving price decline, which suggests that new market participants are absorbing the selling pressure quite well, highlighting the tenacity of the present market structure of Bitcoin. The Bitfinex Alpha report revealed that the average daily net inflow from spot Bitcoin Exchange-Traded Funds (ETFs) is $150 million. Given the ETFs’ inflows far exceeding the $30 and $40 million daily issuance rate of BTC following the halving, this significant supply and demand imbalance could encourage further price appreciation. Bitfinex further claims the massive purchases of spot Bitcoin ETFs, which have dominated the entire year’s market narrative, may decline. However, recent ETF outflows have shown that ETF demand may be starting to stabilize. It is important to note that the recently concluded Halving cut down miners’ reward from 6.25 BTC to 3.125 BTC. As a result, miners are now modifying their operating tactics in order to sustain their activities against the decline in reward following the Halving. Thus, the amount of Bitcoin that miners are sending to exchanges has significantly decreased, which may indicate that they are selling ahead of time or collateralizing their holdings to upgrade infrastructure. Consequently, this could possibly lead to a gradual increase in selling pressure rather than a sudden drop in value at the Halving. New BTC Whales Surpassed Old Whales Since the conclusion of the fourth Halving, on-chain data shows a significant rise in new Bitcoin whales. CryptoQuant Chief Executive Officer (CEO) Ki Young Ju, reported the development, noting that the initial investment made by the new whales in Bitcoin is nearly twice that of the old whales combined. Related Reading: Crypto Expert Predicts A Narrative Shift Post-Bitcoin Halving According to the data, the total holding by these new whales, which are short-term holders, is valued at $110.6 billion. Meanwhile, the old whales, which are long-term holders, own a whopping $67 billion worth of BTC. This change in whale demographics may impact Bitcoin’s future course and the dynamics of the cryptocurrency landscape as a whole. Featured image from iStock, chart from Tradingview.com

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Bitcoin Enters Oversold Levels, Analyst Warns This Is Bearish, Not Bullish

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Apr 19, 2025 12:05

Bitcoin Enters Oversold Levels, Analyst Warns This Is Bearish, Not Bullish

Crypto analyst Quinten recently revealed that Bitcoin has entered oversold levels. However, analyst Dr. Cat has warned that, contrary to public opinion, this development is bearish, not bullish, for the flagship crypto. In an X post, Dr. Cat stated that Bitcoin entering oversold levels is super-bearish and overbought levels are super-bullish. He explained that for the oscillator to reach oversold values, it means that the price action has been extremely bearish, indicating why investors are selling their holdings. Why Bitcoin Entering Oversold Levels Is Bearish The crypto analyst further remarked that Oscillators are range-bound indicators, so they cant go beyond 0 and 100, as they are limited by their mathematical formulas. However, he added that the Bitcoin price can go lower or higher. Dr. Cat then alluded to Bitcoins bull markets, noting that all of them are in overbought territory on the weekly chart. Related Reading: Bitcoin Price To Break $125,000 But Sell Everything In October, Analyst Warns The analyst stated that if an investor buys an oversold condition on a lower timeframe when Bitcoins higher timeframe is bullish, this is a good move. However, he remarked that whoever advises buying a weekly oversold chart based on the claim that it is bullish because it is oversold has no idea what they are talking about. He remarked that many altcoins are oversold on the higher timeframe and can remain oversold as they approach zero, where the analyst claims they are eventually headed. Dr. Cat also explained that in a bull market, oversold conditions on the daily chart may mark higher lows on the weekly or monthly chart. However, in a bear market, oversold conditions may persist or just lead to some consolidation before more downside. Dr. Cat then alluded to Quintens chart, which he said showed what daily oversold conditions led to one year earlier in different broader market conditions. The analyst cautioned that he wasnt discussing whether Bitcoin is in a bull or bear market or where it is headed, but simply clarifying the misconception about oversold and overbought RSI. BTCs Supply Overwhelming Demand At The Moment In an X post, CryptoQuant CEO Ki Young Ju revealed that Bitcoins supply is currently greater than its demand at the moment, providing a bearish outlook for the flagship crypto. This supports the idea of BTC being in oversold conditions right now, with holders selling their coins rather than buying. Related Reading: Bitcoin Price Forms This Bullish Pennant On Daily Chart That Could Trigger Rise To $137,000 Crypto analyst Ali Martinez recently revealed that whales have been taking profits during the recent Bitcoin rally, offloading over 29,000 BTC since April 9. It is worth mentioning that Ki Young Ju recently asserted that Bitcoins bull market is over, noting that the flagship crypto is witnessing significant selling pressure. At the time of writing, the Bitcoin price is trading at around $84,600, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com

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Bitcoin ETF Netflows May Experience Rebound If This Price Is Attained, Analyst Explains

Author: Semilore Faleti

United Kingdom

Source: NewsBTC

Mar 24, 2024 12:05

Bitcoin ETF Netflows May Experience Rebound If This Price Is Attained, Analyst Explains

In line with the decline in Bitcoins price, the spot Bitcoin ETF market has appeared rather gloomy in recent days. According to data from analytics firm BitMEX Research, these BTC ETFs have recorded a negative netflow for the last four trading sessions. This situation has been marked by large levels of Grayscales GBTC outflows and the record low inflows for the other ETFs, mainly the market leaders BlackRocks IBIT and Fidelitys FBTC. However, amidst these persistent declining netflows, Ki Young Ju, a prominent analyst and Chief Executive Officer at Cryptoquant, has predicted a possible resurgence in the spot Bitcoin ETF market. Related Reading: Bitcoin Long-Term Holders & Price Top: Glassnode Reveals Pattern Analyst Pinpoints $56,000 Level As Critical To Bitcoin ETF Recovery In a post on X on March 22, Ki Young Ju shared that a rise in spot Bitcoin ETFs netflows could occur even as the BTC price decline continues. Using data from the historical netflow trends, the analyst noted that demand for Bitcoin ETFs usually kicks in when the cryptocurrency traces to certain support levels. Young Ju stated that, in particular, new BTC whales, especially ETF buyers, have shown to have a $56,000 on-chain cost basis. This suggests that the new significant holders of Bitcoin, particularly those invested in ETFs, usually purchased Bitcoin at an average price of $56,000. Following this trend, the crypto quant boss believes the spot Bitcoin ETF market could experience massive inflows if BTC reached the specified price level. #Bitcoin spot ETF netflows are slowing. Demand may rebound if the $BTC price approaches critical support levels. New whales, mainly ETF buyers, have a $56K on-chain cost basis. Corrections typically entail a max drawdown of around 30% in bull markets, with a max pain of $51K. pic.twitter.com/vZCG4F0Gh5 Ki Young Ju (@ki_young_ju) March 22, 2024 For now, Bitcoins price has oscillated between $62,000 and $68,000, as seen in the last week. However, Young Ju believes that such a descent is quite feasible as price corrections usually see a maximum decline of 30%. Using BTC’s most recent high of $73,750, the analyst predicts the asset price could still trade as low as $51,000. Related Reading: Stablecoins Steal The Spotlight: $150 Billion Market Cap, $122 Billion Daily Trades BTC Price Overview At press time, Bitcoin continues to trade at $64,065.74, representing a decline of 3.73% and 7.17% in the last one and seven days. Meanwhile, the assets daily trading volume is down 3.53% and valued at $39.62 billion. Following historical trends of the bull cycle, it is possible that BTC may have reached its price peak leading up to the halving event in April. If that is the case, Bitcoin may likely not return to previous high price levels soon and could experience further price drops in the coming weeks. BTC trading at $64,315.00 on the hourly chart | Source: BTCUSDT chart on Tradingview Featured image from Euronews, chart from Tradingview

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This Bear Market Indicator Says Bitcoin Price Is Headed For Crash To $40,000, Heres When

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Mar 19, 2025 12:10

This Bear Market Indicator Says Bitcoin Price Is Headed For Crash To $40,000, Heres When

The Bitcoin price could be headed for more pain, as a crypto analyst has identified a new bear market indicator that suggests a crash to $40,000 is imminent. The analyst has predicted when this deep price decline is set to occur, warning investors to remain cautious or risk selling at a loss. Xanrox, a crypto analyst on TradingView, shared a detailed price analysis of Bitcoin on March 17, predicting that the pioneer cryptocurrency is set to crash to $40,000 by 2026. The analyst revealed that Bitcoin follows a predictable cycle pattern tied to its halving events, which occur every four years. During these years, the market alternates between bull markets, where prices skyrocket, and bear markets, marked by severe corrections. Bear Market Indicator Predicts Next Bitcoin Price Crash Historically, bull markets last between 742 and 1,065 days, which is about 2-3 years. Conversely, bear markets last between 364 and 413 daysapproximately one year. Notably, every bull run for each cycle has been weaker than the previous one due to Bitcoins rapidly growing market capitalization. Related Reading: Crypto Pundit Arthur Hayes Says Be Patient After Bitcoins 36% Crash, Reveals Possible Bottom In every cycle, Bitcoins price crashes after a bull market, ultimately experiencing a decline between 77% to 86%. Reflecting on this recurring trend, Xanrox forecasts a major Bitcoin price correction, albeit a weaker one than those of previous cycles. The analyst believes that the cryptocurrency will crash 65% to $40,000, citing its significantly larger market capitalization and rapidly growing institutional adoption. He shared a price chart that highlights the various halving cycles and the magnitude of each bull market rally and bear market crash since Bitcoins inception. He pointed out that statistically, predicting Bitcoins movements with a simple chart has always been accurate, suggesting that his 65% crash prediction was inevitable. Currently, Bitcoins considerable market capitalization of $1.63 trillion makes it unrealistic to achieve the extreme growth needed to reach a target of $300,000, $500,000, or even $1 million, as some moon analysts predict. Xanrox suggests that 2025 may be a bearish year, with the next Bitcoin bull run set to begin in 2026, after the bear market. CryptoQuant Says BTC Bull Cycle Is Over Sharing a similar bearish sentiment about the current market, CryptoQuants founder and Chief Executive Officer (CEO), Ki Young Ju, has announced the unfortunate end of the Bitcoin bull cycle. Ju revealed that the market should expect 6 – 12 months of choppy price action, indicating the start of the bear market. Related Reading: Analyst Says Bitcoin RSI Dominance Needs To Crash To This Level For The Bull Run To Resume He also highlights that every on-chain metric for Bitcoin is signaling a bear market, with fresh liquidity depleting while new whales are selling BTC at a significantly lower price. Moreover, Bitcoin is trading at $82,549, marking an over 20% price crash since its all-time high of more than $109,000 this year. Featured image from Unsplash, chart from Tradingview.com

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Quick Take: Is The Bitcoin Bull Cycle Over? Bearish Trend Predicted

Author: BitPinas

Philippines

Source: BitPinas

Mar 19, 2025 02:55

Quick Take: Is The Bitcoin Bull Cycle Over? Bearish Trend Predicted

Ju cited fresh liquidity drying up and new whales selling at lower prices as key indicators of a bear market.

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Ethereum Could Be Mirroring Bitcoins 2018-2021 Cycle Amid Record Selling

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Mar 15, 2025 12:05

Ethereum Could Be Mirroring Bitcoins 2018-2021 Cycle Amid Record Selling

Crypto analyst The Cryptagon has raised the possibility of the Ethereum price mirroring Bitcoins 2018 to 2021 cycle, which he indicated was bullish ETH. This development comes amid record selling among ETH investors, which continues to exert downward pressure on the crypto. Ethereum Could Be Mirroring Bitcoins 2018-2021 Cycle In a TradingView post, the Cryptagon stated that Ethereum has been repeating Bitcoins 2018 to 2021 cycle very closely. He remarked that ETHs long-term holders may remain bullish just by looking at this BTC cycle, seeing as ETH could achieve a similar end result like the flagship witnessed in that cycle. Related Reading: Crypto Analyst Publishes Insanely Bullish Report For Ethereum, Here Are The Facts The analyst admitted that Ethereum has been under heavy pressure since early December last year and almost touched the 12-month falling support this week. However, despite this development, the Cryptagon suggested that this is not the time to be bearish on ETH, as it could still reach new highs as it mirrors Bitcoins 2021 cycle. He noted that in the 2021 cycle, a rebound on the falling support caused a massive breakout above the falling resistance and the Bitcoin price rallied to the 1.618 Fibonacci extension. In line with this, the Cryptagon predicted that Ethereum could at least reach $8,000 in this market cycle as it repeats a similar price action. This bullish outlook for Ethereum comes amid record selling, which threatens any bullish reversal for ETH. In an X post, Cryptoquant founder Ki Young Ju revealed that Ethereum has faced record active selling over the past three months. This has contributed to ETHs underperformance, with the altcoin being outperformed by other major altcoins like XRP and Solana over this period. While XRP touched its current all-time high (ATH) and SOL hit a new ATH, ETH has yet to come anywhere close to its current ATH. The Most Important Price Level For ETH At The Moment In an X post, crypto analyst Ali Martinez, revealed that $1,887 is the most important support level for Ethereum at the moment. At this level, investors bought 1.63 million ETH. A drop below this level could lead to another massive crash for the second-largest crypto by market cap, with many of these investors possibly selling off their coins in order to cut their losses. Related Reading: Analyst Says Youll Regret Not Buying Ethereum At These Prices, Heres Where Its Headed Martinez has already raised the possibility of Ethereum crashing to as low as $800. He noted that the $4,000 price level had been holding a strong horizontal resistance trendline. However, ETH recently broke out of this trendline, which has significantly increased the probability of a 70% price drop to this $800 target. At the time of writing, the Ethereum price is trading at around $1,893, up over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com

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CryptoQuant CEO Warns Not To Short XRP Due To Insider Whale Activity

Author: Jake Simmons

United Kingdom

Source: NewsBTC

Dec 04, 2024 12:05

CryptoQuant CEO Warns Not To Short XRP Due To Insider Whale Activity

XRP has experienced an extraordinary surge in recent weeks, with its price skyrocketing by 380% over the past 23 days. In just the last four days, the price jumped 75%, reaching a peak of $2.87 on December 2. This rapid ascent appears to be fueled by significant buying activity from large investors, commonly known as “whales.” Ki Young Ju, CEO of on-chain analysis firm CryptoQuant, highlighted that these whales are primarily operating through the US based exchange Coinbase. On December 2, he pointed out that “Coinbase whales are driving this XRP rally,” noting that Coinbase’s minute-level price premium ranged from 3% to 13% during the surge. In contrast, Upbita Korean exchange with more XRP investors than Binanceshowed no significant premium, suggesting the buying pressure is predominantly originating from the United States. On his alternative X account (@kate_young_ju), Ki Young Ju hinted at possible insider activity influencing the market dynamics, stating, “Someone knew something.” Related Reading: XRP Price Prediction: Analyst Says History Is Repeating Itself, Heres How Today, he cautioned traders against shorting XRP. Shorting XRP right now seems risky, imo. $25B XRP deposit before the pump might look like market manipulation but could simply be front-running. This insider whale might know something extremely bullish about XRP, such as spot ETF approval, he speculated. He further shared a chart XRP: Retail Activity Through Trading Frequency Surge (Spot & Futures), which indicates that retail trading activity for XRP has surpassed the highs of 2021 and is nearing levels last seen in January 2018, when XRP reached its all-time high of $3.92. Related Reading: Crypto Analyst Says Litecoin Is About To Pull An XRP, Heres What He Means Observing the one-year cumulative volume delta (CVD) of taker buy/sell volume, he remarked: 1-year CVD of Taker Buy/Sell Volume for XRP shows a historic rebound. Whales are aggressively using market orders, driving overwhelming demand. A 700% Rallye Incoming For XRP Against BTC? From a technical analysis perspective, crypto analyst Jacob Canfield emphasizes the importance of examining the XRP/BTC pairing. He notes that XRP is currently at a critical resistance zone on the BTC pair chart (XRPBTC), having just reached the $2.75 level on the USDT paira resistance point since December 2019. Canfield suggests that a breakout here could signal a potential 240% move back to key resistance zones from 2017, 2018, and 2019. “If we get real FOMO, then we could be setting up for another 700% move to all-time high against Bitcoin,” he commented, acknowledging the “two of the strongest monthly candles for XRP that we’ve seen in over 5 years.” Looking at shorter time-frames of the XRP/USD pair, Canfield highlights the utility of support and resistance levels to identify new entry points in these time frames. In bull markets, you need to use low time frame support/resistance to find new entries. 5 min/15 min are the best. XRP as an example – $2.20 was the clear S/R invalidation. Base of the biggest green candle = base of impulse. Usually the best place to re-enter a trade. At press time, XRP traded at $2.63. Featured image created with DALL.E, chart from TradingView.com

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Altseason delayed due to lack of fresh retail capital Ki Young Ju

Author: Cointelegraph by Vince Quill

United States

Source: Cointelegraph.com News

Nov 28, 2024 12:00

Altseason delayed due to lack of fresh retail capital Ki Young Ju

Investors rotate into altcoins along a risk curve, starting with large-cap assets and eventually migrating into riskier low-cap coins.

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Bitcoin Whales Set Profit-Taking Record In Bull Cycle Whats Happening?

Author: Opeyemi Sule

United Kingdom

Source: NewsBTC

Oct 06, 2024 12:05

Bitcoin Whales Set Profit-Taking Record In Bull Cycle Whats Happening?

The price of Bitcoin has not had the most straightforward performance in 2024 despite a strong start to the year. The flagship cryptocurrency has spent most of the last two quarters in consolidation, fluctuating within the $50,000 and $70,000 range. This uninspiring performance has sparked conversations about the current cycle, with several analysts and experts predicting whether the bull run is still on. Amongst the latest to comment is the CryptoQuant CEO, who offered an interesting on-chain insight into the cycle. Why Are Whales Taking Less Profit This Cycle? In a post on the X platform, CryptoQuant CEO Ki Young Ju revealed that the Bitcoin whales have held onto their assets this cycle. As a result, the large investors have set the record for the least profit-taking compared to other cycles if the current bull run ends now. Related Reading: XRP Macro Charts Signal Explosive Bullish Move Despite SEC Appeal: Analyst This on-chain revelation is based on the Realized Profit Ratio by Balance Cohort metric, which measures the ratio of coins sold at a profit by an investor class relative to the total coins sold at a given time. It basically evaluates the profitability of different cohorts of Bitcoin holders. Typically, when the Realized Profit Ratio of whales is high, it implies that a sell-off is likely ongoing, with the large investors believing that prices have peaked. On the other hand, a low Realized Profit Ratio often indicates a low level of profit-taking, meaning that investors are not cutting their losses or expecting further price gains. The current on-chain data points to a trend where the large holders have taken the least amount of profits across any bull cycle. This could mean that the Bitcoin whales still have faith in Bitcoins long-term potential. Ultimately, this suggests that the current bull run is far from the end, and there is the possibility of the Bitcoin price uptrend resuming. Bitcoin ‘Dolphin’ Addresses On The Rise Again: Santiment In a post on X, Santiment revealed that the Bitcoins Dolphin cohort, holding between 0.1 to 10 BTC, have been growing steadily over the past few months. The analytics reported that this tier of investors mostly sold for profit in the first half of the year. However, addresses holding between 0.1 and 10 BTC have been on the rise since early July. Specifically, the 0.1 – 1 BTC wallets have increased by 25,671 more addresses, while the 1 – 10 BTC wallets have climbed by about 4,000 addresses. Related Reading: Analyst Says Bitcoin Crash Might Not Be Over, Why $60,365 Is Important This indicates that small-scale investors might be returning to the market, which could be positive for the Bitcoin price over the coming months. As of this, the premier cryptocurrency is valued at $61,94, reflecting a 1.7% increase in the past day. Featured image created by Dall.E, chart from TradingView

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Bitcoin ETF demand hits 6-month high while futures volumes remain subdued

Author: Cointelegraph by Ciaran Lyons

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