Altcoins Takeover Incoming? These On-Chain Metrics Signal An Imminent Market ...
The cryptocurrency market was impressive for most of the week, with Bitcoin and large-cap altcoins leading the charge. While BTC ran up to a new all-time high around $124,100, the other top cryptocurrencies, like Ethereum and Solana, flirted with their former record-high prices. Most notably, the price of Ethereum continued its positive form, briefly touching the $4,800 level on Thursday, August 14. The latest on-chain data suggests that ETH and other altcoins might only be at the start of an extended rally, with the potential to outpace Bitcoin, the world’s largest cryptocurrency by....
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Bitcoin remains on an upward trend after breaking through $40,000 once again. However, this upward trend has not translated onto on-chain metrics. While the price of the digital asset continues to sit in the green, on-chain metrics have plummeted paining an entirely different picture in relation to price. From miner revenues to transaction fees, the […]
Bitcoin has started the week maintaining relative stability, with its price currently hovering around $87,000 despite a minor 0.4% dip over the past 24 hours. The crypto asset showed upward momentum earlier in the week, briefly rallying beyond $88,000. Although the rally has slowed, the broader market remains focused on whether Bitcoin’s recent performance signals a temporary correction or a more substantial shift in trend. Market analysts have turned to on-chain metrics for additional clarity. One such analyst, Burak Kesmeci, a contributor to CryptoQuant’s QuickTake platform, recently....
Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an "alt season" just yet. Few traders would argue against the fact that Bitcoin (BTC) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin.Typically, traders rely on a wide swath of indicators and metrics, like Bitcoin’s total market capitalization versus the total altcoin market....
Bitcoin’s price action is still above the $100,000 threshold and within striking distance of its all-time high at $111,700, but its on-chain activity tells a completely different story. According to the latest report from on-chain analytics firm Glassnode, even though Bitcoin’s price is pushing to new heights, underlying blockchain metrics have slipped into territories more […]
Bitcoin on-chain analysis is showing more short-term holders registering losses, and they are statistically more likely to sell according to Glassnode. Blockchain analytics provider Glassnode has depicted a bearish scenario for Bitcoin as on-chain metrics suggest increased selling pressure is imminent.In its weekly analytics report on Feb. 21, on-chain metrics firm Glassnode said that Bitcoin bulls “face a number of headwinds,” referring to increasingly bearish network data.The researchers pointed at the general weakness in mainstream markets alongside wider geopolitical issues as the....