Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why
The head of research at the on-chain analytics firm CryptoQuant has explained why selling pressure from Bitcoin traders may be declining. Bitcoin Short-Term Holder Realized Price Has Risen To $60,000 In a new post on X, CryptoQuant head of research Julio Moreno has discussed why the short-term holder selling pressure may be declining for BTC. The “short-term holders” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago. Related Reading: Bitcoin Miners Always Sell Into Halvings, Is This Time Any Different? The STHs include the....
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On-chain data shows that the largest number of investors in the Bitcoin market are finally buying, which could be bullish for the asset’s value. Bitcoin Mega Whales Have Shown Net Inflows In The Past Day In the past few weeks, the Bitcoin price has struggled to mount any significant bullish momentum as it has been stuck consolidating inside a range. Earlier, while this was happening, the largest holders in the space had been sitting quietly, not buying or selling anything notable. According to data from the market intelligence platform IntoTheBlock, however, this appears to have....
Top Quant uses the puell multiple to point out a pattern that explains why the current Bitcoin bull cycle is only in the first phase. The Bull Market Is Not Over, Phase 1 Has Just Begun According to a CryptoQuant analyst, past cycles show that the current Bitcoin bull market isn’t over yet. The puell multiple seems to reveal where the price might head next. The puell multiple is a BTC indicator used to tell how healthy miners’ revenue is. It’s calculated by dividing the mining revenue by the 365-day moving average (MA) of the same. Puell Multiple= Mining Revenue USD ÷ 365....
Bitcoin miners are selling at a level unseen since July 2019 when BTC price topped out at $14,000. According to data from CryptoQuant, miners appear to be selling large amounts of Bitcoin (BTC). Historically, heightened selling pressure from miners marked a local top and led to sharp, prolonged corrections.BTC/USDT 1-hour chart. Source: TradingView.comWhy are Bitcoin miners selling?In May 2020, on-chain analyst Willy Woo said that there would be two sources of unmatched selling pressure in the market after the block reward halving. Woo pinpointed Bitcoin miners and cryptocurrency exchanges....
As Binance continues to be surrounded by FUD, here’s what the CryptoQuant head thinks regarding the possibility of a bank run. Can Cryptocurrency Exchange Binance Go The Way Of FTX? In a new post on X (formerly Twitter), Julio Moreno, the Head of Research at the on-chain analytics firm CryptoQaunt, has talked about whether Binance […]
Bitcoin has seen some intense turbulence throughout the past few hours, with the selling pressure seen in the mid-$19,000 region once again proving to be too much for it to handle The crypto has been caught within a persistent bout of consolidation throughout the past few days, with bulls guarding the mid-$18,000 region as bears continue building massive sell walls around $19,500 The frequency of the rejections seen at this price region is a grim […]