Will A Large Spike In Bullish Sentiment Translate To A Bitcoin Rally?
With such a large spike in bitcoin sentiment recently, a bitcoin rally could be underway. Bitcoin has been fluctuating between $30k and $40k for a while now with no real significant movement either up or down. This has come in light of the market crash experienced over a month ago. The asset lost about 50 […]
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Dogecoin has been in a bearish sentiment among investors in the past week that even a tweet from Elon Musk referencing the cryptocurrency earlier in the week failed to do much to cause a price reversal. However, recent transaction volume indicates this might be changing into a bullish sentiment soon, as Dogecoin is finally getting […]
Bitcoin outflows have shown a spike amounting to 30k BTC today, leading to a plunge in the all exchanges reserve. Bitcoin Netflow Shows Deep Negative Spike As 30k BTC Exits Exchanges As pointed out by an analyst in a CryptoQuant post, the BTC exchange netflow showed a large negative spike earlier today. The “outflow” is a measure of the total amount of Bitcoin exiting wallets of all exchanges. Similarly, the number of coins being deposited to exchanges is the “inflow.” The difference between the inflow and the outflow is called the netflow. This indicator tells us....
The price of Ethereum (ETH) looks strong and shows more strength against tether (USDT), holding up compared to Bitcoin (BTC). The price of ETH is anticipated to move with more bullish sentiment circulating as we edge closer to “The Merge.” (Data from Binance) Related Reading: ATOM Expands Over 25% In Last Week, Keeps Bullish Run Since Mid-June Ethereum (ETH) Price Analysis On The Weekly Chart The price of ETH closed the week with so much mixed sentiment ahead of the upcoming “Ethereum Merge,” with so many bullish signs lately. ETH’s price was rejected from....
On-chain data shows despite the Bitcoin drop to $47k, Coinbase saw outflows of around 31k BTC, a sign that the market could still be bullish. Outflows Of 31k BTC On Crypto Exchange Coinbase As pointed out by a CryptoQuant post, the popular crypto exchange Coinbase has observed huge Bitcoin outflows today. As is apparent from the name, the “outflows” indicator shows the amount of BTC transferred from an exchange to personal wallets. A huge spike in the metric’s value means big investors are moving their Bitcoin out of exchanges either to hodl or for selling through OTC....
The decline in the price of bitcoin following the rally has unearthed some underlying weaknesses that were not easily seen before. The run-up and eventual rundown from $25,000 have shown that retail investors are not as moved by the market as expected. Even now, transaction volumes for retail investors remain muted, indicating that the burnout from the rally was actually a result of low bullish sentiment. Bitcoin Retail Volume Remains Low In a recent report, Glassnode points to the low retail volume as an indicator of the weakness of the market. Usually, retail investors react to long....