This Historic Trend Shows Bitcoin Could Soon See a 700%+ Rally; Here’s Why
Bitcoin has seen some choppy price action throughout the past day, with its price mainly consolidating within the lower-$15,000 region as bulls and bears struggle to gain control of its near-term outlook. Where it trends in the near-term will likely depend on whether or not it can continue trading above $15,000. This has been a […]
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Bitcoin’s renewed upward trend has put the flagship asset in the limelight as it moves toward its current all-time high of $110,000, achieved in January this year. While BTC is about 5% away from its peak, speculations are whether this newfound strength could lead to a cycle top. However, cycle-top indicators appear to be shifting […]
Bitcoin’s price has been caught within a consolidation phase around $13,000 ever since it was rejected at its recent highs of $13,200 This is around the price at which it has been trading throughout the past few days, with buyers and sellers being unable to take control of its near-term trend Yesterday, bulls did attempt to set fresh yearly highs and kickoff a leg higher, but it resulted in a rejection This shows that buyers […]
On-chain data shows the top 10 Bitcoin whale inflows are forming a historic bear signal right now, something that could spell trouble for the new rally. Bitcoin Top 10 Exchange Inflows (Whales) Form A Peak Recently As pointed out by an analyst in a CryptoQuant post, the BTC top ten exchange inflows have showed a bearish formation recently. The “all exchanges inflow” is an indicator that measures the total amount of Bitcoin entering wallets of all exchanges during a specific period. Investors usually deposit their BTC to exchanges for selling purposes. Therefore, any spikes in....
Ethereum has enjoyed a massive rally over the past two days despite some weakness on the part of Bitcoin. The leading cryptocurrency has rocketed from the $500 region to highs near $600 as of this article’s writing. ETH currently trades at $590, dropping slightly as Bitcoin shows some weakness after an impressive 70% rally. Ethereum […]
On-chain data shows the Bitcoin mega whales are still in a phase of distribution despite the other cohorts shifting to buying. Bitcoin Mega Whales Have Continued To Sell During This Rally According to the latest weekly report from Glassnode, the Bitcoin Accumulation Trend Score suggests a resurgence in buying among the investors. This on-chain indicator basically tells us whether the BTC holders are buying or selling. The metric calculates its value by not only looking at the balance changes happening in the wallets of the investors, but also accounting for the size of the wallets....