On-Chain Data Shows This Is a Bitcoin Price Dip to Buy: Executive
Bitcoin has undergone a strong drop over recent days as legacy markets have been dragged lower. The cryptocurrency fell from its $11,200 local highs to lows at $10,200, marking a drop of nearly 10%. The coin now trades at $10,400 as of this article’s writing, only marginally above the aforementioned lows. Bitcoin is under the pivotal $10,500-10,600 support level despite the recovery, leaving some bearish. Not everyone thinks that this is it for Bitcoin’s bull […]
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Bitcoin on-chain data shows that the BTC outflows have been gradually heading downwards recently, hinting that a crash could be coming soon. On-Chain Data Shows BTC Outflows Continue To Decrease As pointed out by an Analyst on Twitter, on-chain data reveals Bitcoin outflows have been gradually going down in the past month. The relevant metric here is the BTC netflows. This indicator shows the net amount of coins exiting or entering exchange wallets. Its value is calculated by taking the difference between the inflows and the outflows. When the netflow shows negative values, it means....
Bitcoin has seen a strong surge over the past three weeks, moving from $11,200 to a high of $15,300. That is a 36.5% gain in the span of twenty days, making it the best-performing asset over that time frame. While some are expecting a retracement from here, on-chain data shows that the market can sustainably […]
Certain on-chain metrics on the Bitcoin chart are flashing “dumping risks,” according to data fetched by Kim-Young Ju of CryptoQuant. The chief executive warned about an indicator known as “All Exchange Inflow Mean (144-block MA)” recently venturing into an area that typically precedes a bearish price move. In retrospect, the metric reflects the average of bitcoin deposits across the global cryptocurrency trading platforms. “When this indicator hits 2 BTC, it is likely to be sideways […]
Bitcoin has recently lost momentum following the rally that occurred over the past week. The digital asset had seen gains of over 20% while the entire market followed suit and showed massive gains all across the board. Bitcoin had spent 9 consecutive days closing in the green for the first time in a decade. As the cryptocurrency sees slowing momentum, the price has experienced various dips that have driven the price down. After the asset had jumped over $42,000 for the first time in over a month. With this slowdown, it seems that the rally has come to its end. But on-chain data shows that....
According to on-chain data, Bitcoin SOPR is still assuming flat values, indicating that investors are likely to not be willing to sell at this level. Bitcoin SOPR Stagnates, Despite Huge Rise In The Crypto’s Price As per a post from CryptoQuant, while Bitcoin’s price shows a sharp improvement as the coin reaches $55k for the first time since May, the SOPR is still showing a flattened line. The Spent Output Profit Ratio, or SOPR in short, is a BTC indicator that shows the profit ratio of the whole market. It does so by looking at the chain transactions and comparing the price at....