Bitcoin Losses Surge To 3x Profits — Could Relief Be Near?
The Bitcoin market appears to be riddled with an increasing amount of sell-side pressure, as its recent price action reveals bears’ dominance. Interestingly, another on-chain evaluation suggests that the current market movement may be a direct effect of rising panic-induced sales. $1.7B Realized Losses Vs $605M Realized Gains In a Quicktake post on the CryptoQuant platform, GugaOnChain shared that the Bitcoin market has been in a capitulation phase in recent days. This on-chain observation revolves around the Bitcoin Realized Profit and Loss ($) metric. For context, this metric....
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On-chain data has provided insights into how Cardano (ADA) investors will likely react to the crypto token’s recent price surge. Cardano has been one of the leading gainers in the crypto market in the last seven days, with a price gain of over 14% during this period. Related Reading: Cardano Chang Upgrade Launch: ADA Sees 52% Explosion In Major Metric Cardano Could Face Significant Selling Pressure Cardano could face significant selling pressure from investors who recently entered the money following the crypto token’s price surge. Data from the on-chain analytics platform Santiment....
Ethereum price is still bearish, and every correction may be a chance to sell ETH/USD. Can sellers push the price towards $7.00? Ethereum price ETH failed once again as forecasted and moved down. Yesterday, I highlighted that ETH/USD may move down once again and retest the $7.36 levels. The price did move down and I hope you all booked profits. There was a new low of $7.13 created for ether price, and there are chances of more declines in the near term. There seems to be no relief for ETH buyers, as there was a continuous bearish pressure noted in the price. Yesterday’s highlighted bearish....
U.S. equities markets jumped on Thursday as stock traders saw some relief after a number of weekly losses. All the major stock indexes rebounded after falling for nearly eight weeks in a row, while the crypto economy took some losses on Thursday, losing roughly 4% against the U.S. dollar during the past 24 hours. Meanwhile gold has been hanging below the $1,850 per ounce mark as Kitco’s Neils Christensen says gold markets remain “under pressure, seeing no major buying momentum.” Analyst Says ‘Doom and Gloom’ Predictions ‘May Have Been....
The electric vehicle maker’s actual BTC losses are far lower, with $64 million worth of previously realized profits to offset the decline. According to Tesla’s latest Q3 earnings report filed with the United States Securities and Exchange Commission, the electric vehicle (EV) manufacturer disclosed that it has invested a total of $1.5 billion into Bitcoin (BTC) since early 2021. Of this amount, the firm is currently sitting at $170 million of unrealized loss from the change in the fair value of its investment. This is offset by a gain of $64 million from realized profits on Bitcoin at....
Scammers are impersonating Elon Musk and other prominent crypto figures to dupe naive investors out of their coins at an accelerated rate. The United States Federal Trade Commission has found that crypto scammers’ profits spiked in the last two months, noting a surge in fraudulent impersonators posing as prominent figures associated with digital assets, such as Elon Musk. The findings report that cryptocurrency investment scams rose sharply in October 2020 as the impacts of coronavirus pandemic and lockdown deepened, with nearly 7,000 people reporting losses of more than $80 million to....