No, Bitcoin has never seen a bear market before: Be careful
Key Takeaways Bitcoin has been through many bear markets before, always surging back to higher highs Dan Ashmore, our Head of Research, cautions against naive extrapolation of past returns, however Until this past year, stock markets had done nothing but rise during Bitcoin’s existence Bitcoin was launched in 2009 as the stock markets bottomed, and […]
active addresses fall, market makers scale back, price softens
Key Takeaways Number of addresses containing one Bitcoin or more crosses one million Bitcoin relatively subdued despite trading at 2-month low Two prominent market markers are scaling back activity in the space Active addresses show notable decline in last week We wrote last week that nearly one million addresses on the Bitcoin network now […]
Why is the crypto market down today? BTC briefly slips below $27k
Key takeaways The cryptocurrency market is down by roughly 1% over the past 24 hours. Bitcoin briefly dropped to $26,990 earlier today before recovering to now trade above $27,500. The dump came due to reports that there was a transaction with the United States government’s BTC wallet. Why the crypto market is down today The […]
Why the crypto market is down today
The crypto market cap was down 3.2% in the past 24 hours to $1.2 trillion as Binance halted BTC withdrawals. The exchange’s action followed massive network congestion for Bitcoin amid increase in fees as tokens with inscriptions and ordinals pumped. Meanwhile, Bitcoin (BTC) saw its market cap drop to $540 billion for a 45% market […]
Riot Platforms stock has moved to a bear market: buy the dip?
Riot Platforms (NASDAQ: RIOT) stock price has drifted downwards in the past few days as Bitcoin and other cryptocurrencies retreated. The shares retreated to a low of $11.48 in the pre-market session. This means that the stock has dropped by more than 20% from the year-to-date high, meaning that it has moved to a bear market. […]
Analyst says CPI could be big market mover
Bitcoin price hovers above $28k with a ranged trading over the past month. Analyst Michael van de Poppe says the US consumer price index report out this week could be a big market mover. Bitcoin’s volume weighted average price (VWAP) is a metric to also watch. Bitcoin price continued its ranged trading this past weekend, […]
Least amount of Bitcoin on exchanges since the previous bull market top in December 2017
Key Takeaways The balance of Bitcoins on exchanges is in constant decline, now at the lowest point since December 2017 Meanwhile, long-term investors continue to hold, soaking up the supply Coins that have not been touched in 10 years now outnumber those held on exchanges I wrote a piece last week on the exodus of […]
DOGE Continues To Hold A Large Presence In The Crypto Market
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No, Bitcoin is still as correlated as ever with the stock market
Key Takeaways Bitcoin’s recent surge has drawn surprise as banking sector has pulled stock market down Declaring this a break in the correlation trend is a mistake, writes our Data Analyst Dan Ashmore, who says Bitcoin remains risk-on Both the stock market and Bitcoin continue to trade off interest rate expectations, aside from isolated episodes […]
Crypto volatility back to FTX levels, with $791 million of liquidations in 4 days as SVB collapse rocks market
Key Takeaways Crypto volatility is back up to levels last seen when FTX collapsed in November $791 million of liquidations rocked investors between Thursday and Sunday $383 million of longs were liquidated on Thursday and Friday, the largest 48-hour number of the year News that deposits will be made whole at SVB propelled the market […]