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Arkham collaborates with CoinGecko and GeckoTerminal to merge market data and on-chain analytics, enhancing trading insights for millions of users. (Read More)
Bitcoin Runes, a leading NFT protocol, generated $162.4 million in fees with over 15.6 million transactions, showing potential for a long-term market impact.
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.
The price of Bitcoin has continued to maintain an impressive recovery trajectory following an earlier dip in the week, which saw the asset trade below the $50,000 price mark. The crypto market leader was greatly affected by a widespread decline in the global financial markets, losing over 16% of its market value, due to fears of a potential recession in the US, among other factors. However, as Bitcoin now hovers around $60,000, market experts and analysts have continued to roll out several conditions needed for the premier cryptocurrency to sustain this current positive performance. Related Reading: XRP Has Surpassed Bitcoin, Ethereum, And Solana Combined In This Metric Bitcoin To Meet Critical Short-Term Holders SOPR Resistance In a Quicktake post on Cryptoquant, an analyst with the username tugbachain shared an insight into the Short Term Holder Spent Output Profit Ratio (STH SOPR) of the Bitcoin market. For context, the STH SOPR is a market metric that indicates whether holders are selling their assets at a loss or profit. It is used to measure profitability outputs by providing information on the profit or loss status of short-term investors. The STH SOPR usually tracks assets held for a period less than 155, with a value less than 1 indicating short-term holders would be selling their assets at a loss. While an STH SOPR of 1 states that these investors will break even on their sales. Interestingly, tugbachain reports that the STH SOPR of Bitcoin is currently above 1, meaning that short-term holders are currently in profit. However, the analyst warns that BTC approaches a strong resistance at the 1.03 SOPR region, at which they predict the investors may soon start taking profit which could lead to an intense selling activity. As expected, this would exert downward pressure on BTCs price. Albeit, in the presence of the right market conditions such as high buying activity, tugbachain predicts the crypto market leader could overcome this resistance and maintain its present upward trajectory. Related Reading: Bitcoin Nears $60,000 As Putin Signs Law Legalizing Crypto Mining In Russia BTC Price Overview At the time of writing, Bitcoin continues to trade at $60,639 with a 1.01% gain in the last day. However, the tokens daily trading volume is down by 4.35% and is valued at $38.2 billion. According to historical price data, the premier cryptocurrency could encounter major resistance at the $67,000 – $70,000 price region if it breaks upward from its current consolidation state. However, if Bitcoin breaks downward, its next viable support level lies at the $55,000 price zone. Featured image from Barron’s, chart from Tradingview
On-chain data shows that the Bitcoin short-term holder whales have a cost base above $64,000, which could be a potential resistance point for BTC. Bitcoin Is Not Far From Realized Price Of Short-Term Holder Whales After Rally As pointed out by an analyst in a CryptoQuant Quicktake post, the BTC price had slipped below the Realized Price of the short-term holder whales earlier. The “Realized Price” here refers to an indicator that keeps track of the average cost basis that the investors of a particular group currently share. Related Reading: Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times When the asset’s spot price is under this metric, the holders belonging to the cohort are in a state of net unrealized loss. Similarly, it being above the indicator implies the group is enjoying profits. In the context of the current topic, there are two market segments of interest: the short-term holder and long-term holder whales. The short-term and long-term holders are the two main divisions of the Bitcoin sector based on holding time. The short-term holders (STHs) are the investors who bought their coins within the past 155 days, while the long-term holders (LTHs) include the hands who have kept their coins dormant for longer than this period. The “whales” generally refer to the entities that carry at least 1,000 BTC in their wallets, so the STH and LTH whales would naturally correspond to the large members of the respective cohorts. Now, here is a chart that shows the trend in the Realized Price for these two Bitcoin groups over the past few years: As displayed in the above graph, the Bitcoin spot price had slipped considerably below the Realized Price of the STH whales during the recent market downturn. However, with the price observing recovery, it has now neared back to that level. The average cost basis of the STH whales is between $64,000 and $65,000, so a retest of it could be coming soon. However, Such a retest could prove difficult for the cryptocurrency. The STHs represent the weak hands of the market, which can be sensitive to changes in the market. The cost basis is naturally an important level for any investor, but this cohort especially can be likely to react when such a retest happens. Since most STH whales have been at a loss recently, some may be desperately looking forward to a retest taking place so they can exit from the market at their break-even level. It remains to be seen whether Bitcoin will overcome this obstacle if the current recovery rally continues that far. Related Reading: XRP Sharks & Whales Push Bags To ATH As Price Rockets 19% While the STH whales suffer losses, the LTH whales continue to be in high profits as their Realized Price is at just $22,000, implying that their patience has paid off. BTC Price Bitcoin had briefly broken above $62,000 during the past day, but the coin’s price has since seen a retrace to $60,500. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
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
Artur Schaback, one of the co-founders of crypto exchange Paxful, has agreed to a plea deal with U.S. prosecutors that could see him locked up for five years.
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
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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.
Wintermuteintegrates crypto liquidity into oneZero's EcoSystem, expanding its reach intraditional finance (TradFi). The move allows banks and institutions to access over 350crypto trading pairs with advanced features.
Crypto Liquidity ProviderWintermute Expands TradFi Reach
According tothe press release, Wintermute Asia Pte. Ltd, a subsidiary of global algorithmictrading firm Wintermute Group, has integrated its spot and CFD liquidityinto oneZero's EcoSystem.
Theintegration allows oneZero's network of banks and financial institutions toaccess liquidity for over 350 spot and CFD crypto trading pairs. Thisdevelopment comes as Wintermute reports a threefold increase in CFD tradingvolumes sincelaunching the product in March.
"We'veseen a significant influx of traditional FX market participants entering thespace, seeking top-tier liquidity providers," Evgeny Gaevoy, CEO ofWintermute, commented, noting the growing interest in crypto trading,particularly OTC-cleared derivatives like crypto CFDs.
Wintermute'soffering through oneZero includes tight spreads, competitive margins, no fees,and 99.9% uptime. The company has also introduced multi-currency collateralsupport, allowing traders to use various cryptocurrencies, including liquidstaking tokens, as collateral alongside fiat.
"Wintermutehas an outstanding track record of providing robust liquidity for hundreds ofdigital assets, ensuring market access for banks and other B2B clientele,"Andrew Ralich, oneZero's Co-Founder and CEO, commented.
oneZerosability to offer innovative, multi-asset capabilities alongside our pioneeringFX offerings, all backed by a robust data and analytics framework, continues todifferentiate our offering.
Recent Collaborations
Thisintegration follows Wintermute's successful partnershipwith CME in November 2023. The move is expected to enhance tradingefficiency and capital management for participants in the oneZero ecosystem.
TP ICAP isthrilled to be working with Wintermute as another trusted participant blocktrading CME Group cryptocurrency products, Sam Newman, Digital Assets Head ofBroking at TP ICAP, commented last year. In such a fast-growing and excitingmarket, it is fantastic to see crypto-native firms such as Wintermute accessingtraditional products and services, solidifying our belief that the maturationof this market is building momentum.
In December2023, Wintermuteentered into a collaboration with WOO X to boost liquidity and marketefficiency by serving as a designated liquidity provider. This partnership ispart of WOO X's transformation of its business model, which involvesintegrating leading liquidity providers.
Two monthsago, oneZero and Options Technology, a capital markets infrastructure serviceprovider, alsoannounced an expanded partnership. The collaboration aims to improve theintegration between oneZero's platform and Options Activ's consolidated dataservice through custom API connectivity. This enhancement is designed tostreamline operations for joint customers by facilitating more efficientinteraction between Options' multi-asset class market data and oneZero'sliquidity, aggregation, and risk management solutions.
This article was written by Damian Chmiel at www.financemagnates.com.
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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
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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