Bitcoin price hits $24K, but analysts say on-chain data points to an ‘inevita...
The crypto market rally continues, but analysts are on the fence about whether BTC and ETH will slip back into range or push closer to higher-timeframe resistance levels. Cryptocurrency investors continue to enjoy this week's bullish price action after Bitcoin (BTC), Ether (ETH) and a handful of altcoins rallied on July 20 alongside gains in the traditional markets. Data from Cointelegraph Markets Pro and TradingView shows that a midday rally by Bitcoin bulls managed to lift the top crypto to a daily high of $24,281, which sparked a new round of bullish proclamations on Crypto Twitter.....
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The demand for on-chain analysts is set to further increase with Web3 data outgrowing Web2 data over the next 20-30 years, says Covalent's Ganesh Swami. Ganesh Swami, CEO of blockchain data aggregator Covalent says there continues to be an “intense demand” for on-chain data analysts, that is yet to be satisfied. Speaking to Cointelegraph, Swami said that analysts are in “intense demand” as there’s a “real need” for data experts to “make sense” of on-chain data, explaining: “There is an unresolved backlog of unfilled data-driven roles. This demand is a testament to how eager blockchain and....
High-net-worth investors, or whales, have been buying Bitcoin more aggressively since Christmas, on-chain data show. Bitcoin (BTC) whales have been buying more since Christmas, on-chain data shows. This indicates that high-net-worth investors are continuing to eat up the supply of BTC.It is nearly impossible to segregate institutional investors from individual investors through on-chain data. However, the trend shows that investors with large capital are increasingly entering into the Bitcoin market despite its rally.Bitcoin large supply holders. Source: SantimentWhy are whales continuing....
Blockchain loyalty platform Chain of Points has appointed iPayYou CEO and ex-Amazon executive Gene Kavner to its board of advisors. In a press release issued Tuesday, Kavner, whose startup facilitates Bitcoin payments with merchants including Starbucks, said he was “honored” to join Chain of Points. “Chain of Points is the clear leader in the Blockchain-loyalty market and has realized tremendous growth over the past few months,” he commented. “I look forward to working with the company's management team to drive Chain of Points in the market as an essential component of the retail and....
A crypto analyst has predicted that Dogecoin’s price action will pump very hard soon if on-chain data is any indication. The meme coin has been trading around $0.10, but a set of network metrics is beginning to provide a constructive outlook. Despite the lackluster price action, some analysts believe a recovery may be closer than the price chart suggests. These predictions are based on different factors, but one notable one is the increase in the number of active addresses that are interacting with the Dogecoin network. Dogecoin Active Addresses Jump 176% In One Week Recent data....
Bitcoin price is defending the $15,000 support and on-chain data signal that the rally may continue beyond $16,000. After rejecting at $15,960 on Nov.6 Bitcoin (BTC) price has been defending the $15,000 support level with strength. Based on four on-chain data points, analysts believe the rally might continue beyond $16,000.Analysts have pinpointed lower Bitcoin exchange reserves, unmoved supply, a rise in “stronger hands,” and unrealized profits as factors for the rally to continue.The number of BTC held on exchanges dropsRecently, Delphi Digital, an independent cryptocurrency research and....