Year 2021 Data Cements Bitcoin As Risk-On Asset
Data shows that Bitcoin has increasingly behaved like a risk-on asset in the year 2021 as its price movements have reacted to the VIX volatility index. Bitcoin Cements Itself As A Risk-On Asset During The Year 2021 As per the latest weekly report from Arcane Research, BTC has behaved like a risk-on asset this year as the crypto’s price has seemed to follow VIX. “VIX” is the ticker symbol for the Chicago Board Options Exchange’s Volatility Index. This index tells us about the stock market’s expectations of the volatility based on S&P 500 index options. While....
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Years ago when the Bitcoin network started suffering from higher fees and congestion, a number of bitcoiners advocated the use of sidechains in order to relieve the main chain’s duties. However, they didn’t realize that the Ethereum network would solidify its role as Bitcoin’s main sidechain during the last year. Five years ago, bitcoiners relentlessly argued over scaling the Bitcoin (BTC) blockchain and a number of proponents said that sidechains and offchain solutions would help. Moreover, a number of solutions like Blockstream’s Liquid and the RSK network....
On-chain data shows Bitcoin exchange whale ratio has started rising, suggesting that a dump of the crypto may be coming soon. Bitcoin Whales Now Account For 90% Of Inflow To Exchanges As pointed out by a CryptoQuant post, the exchange whale ratio has risen above 0.9, implying that dumping may be going on in the market. The “exchange whale ratio” is an indicator that measures the ratio between the total Bitcoin amount of top 10 transactions to exchanges and the total inflows. In simpler terms, the metric tells us how the ten largest transactions to exchanges compare with the....
With institutions demanding protection from inflation and dollar depreciation, historical trends could see BTC/USD 8X from current prices, says Bloomberg Intelligence. Bitcoin (BTC) still gets criticized for being too volatile, but one Bloomberg analyst believes that it conversely is becoming a "risk-off" choice for investors.In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency.$400,000 BTC would "rhyme" with historyMcGlone uploaded a chart of the BTC/USD average price and....
BTC is up almost 50% this year overall, brushing aside corrections and increasingly decoupling from the macro environment in Q4. Bitcoin (BTC) is officially the best-performing asset of 2021, data now confirms. As October delivers 15% gains in five days, BTC firmly outperforms macro assets worldwide to seal year-to-date returns of just under 50%.Bitcoin hodlers up 49% year-to-dateDespite Bitcoin’s wild ride throughout the year, downside has failed to grip the market, with a 60% retracement from highs in May now all but cancelled out.The largest cryptocurrency is thus at least 13% ahead of....
The latest bullish Bitcoin price forecast further cements the case for a breakout, but a retracement could conversely end up with a visit to $45,000. Bitcoin (BTC) is on track to see new all-time highs this month and at least $72,000 in November if the latest price data is accurate.In a tweet on Oct. 12, Filbfilb, an analyst at trading platform Decentrader, described what he said was an achievable price target for this month and next.BTC price to $72,000? "Stranger things have happened," says traderWith “Uptober” delivering solid bullish results so far, analysts are keen to chart where the....