Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction
On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets. Bitcoin aSOPR Fails Retest Of The “Value=1” Line As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR has been rejected from the breakeven mark recently. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a loss or at a profit right now. The metric works by looking at the on-chain history of each coin being sold to see what price it was last moved at. If the....
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On-chain data shows Bitcoin exchange inflows from whales holding between 1k to 10k BTC have spiked up recently, a sign that can be bearish for the price of the crypto. Bitcoin Exchange Inflows Spike Up Following Rally Above $24k As pointed out by a CryptoQuant post, the BTC whales with between 1k to 10k BTC seem to have sent a large stack to exchanges recently. The “exchange inflow” is an indicator that measures the total amount of Bitcoin being transferred to wallets of all centralized exchanges (both spot and derivatives). When the value of this metric spikes up, it means a....
Ethereum is coming into heavy resistance north of $1,900 as the cryptocurrency attempts to push further into previously lost territory. Today, ETH core developers announced a tentative date for the upcoming “Merge” event set for September 15 to 16, 2022, which could bolster bulls’ attempts to climb higher. Related Reading: Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction At the time of writing, Ethereum’s (ETH) price trades at $1,888 with 3% profits in the last 24 hours and a 17% profit in the last week. “The Merge” is the event that will complete Ethereum’s....
On-chain data shows the Bitcoin aSOPR profit-loss junction has continued to act as resistance to the price of the crypto. Bitcoin aSOPR Bounces Back Down From The Breakeven Line As pointed out by an analyst in a CryptoQuant post, the aSOPR value equal to ‘1’ line has been acting as resistance for around 185 days now. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is greater than 1, it means the holders as a whole are....
Data from Glassnode suggests Bitcoin is currently in the historical bear market to bull market transition period. Bitcoin Correlation Between Price And Supply In Profit Has Recently Been Below 0.75 As per a recent report by Glassnode, the BTC correlation between the price and the supply in profit generally observes multiple drops below 0.75 during transitional periods. The “supply in profit” is an indicator that measures the percentage of the total Bitcoin supply that’s holding some profit right now. The metric works by looking at the on-chain history of each coin to see....
On Monday, the global payments solutions provider Clear Junction announced it ceased processing transactions for Binance. The move by Clear Junction was brought on by the Financial Conduct Authority’s (FCA) recent warning, according to a blog post written about the decision. Clear Junction Ceases Processing Payments for Binance Citing the Recent FCA Warning The Financial Conduct Authority’s (FCA) warning against Binance operating in the UK has caused a lot of issues for the company. On Monday, the global payments solutions provider Clear Junction revealed it was no longer....