New Indicators Point to Bitcoin Sell-off Slowing Down
New Indicators Point to Bitcoin Sell-off Slow Down As Bitcoin recovers from recent lows of $43,500, new indicators have shown that the sell-off may be slowing down. SOPR dips in “full reset” For the first time since September 2020, the SOPR (Spent Output Profit Ratio) indicator dipped below 1. This indicator, which tracks the variation between purchasing price and sale price, is used to represent overall market profit and loss. A value greater than 1 […]
Related News
Bitcoin bulls should brace for a bearish impact as three of the leading on-chain indicators unanimously warn about potential sell-offs in the spot market ahead. CryptoQuant, a South Korea-based blockchain analysis firm, highlighted the latest readings on their proprietary metrics, one of which studies large BTC outflows from miners’ wallets and the other over-the-counter BTC […]
Despite the recent bitcoin sell off, there are several very bullish on-chain indicators showing HODLers are accumulating through this dip.
Cardano (ADA) has seen the bulls finally reclaim control after a long stretch in the bear territory. This is a welcome change for the digital asset which remains one of the largest cryptocurrencies and widely used networks. However, after properly cementing its position in this bullish level for the short term, the question still remains on how the digital asset is looking towards the long term. ADA Bullish For The Short Term The price of Cardano (ADA) successfully broke above $1.2, which puts it on a bullish path for the short term. The indicators for this include the fact that the....
Bitcoin's 4% losses swiftly ensue as inflation fails to cool as quickly as hoped for, resulting in a wave of sell-offs for the crypto market. Bitcoin (BTC) crashed below $22,000 instantly on Sept. 13 after United States inflation data failed to meet estimates. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCPI print sparks major crypto routData from Cointelegraph Markets Pro and TradingView showed BTC/USD swiftly falling $1,000 after Consumer Price Index (CPI) inflation for August came in at 8.3% year-on-year.Consensus had agreed that 8.1% would be the latest figure, and the....
The bitcoin price has recently launched into an upward rally, with technical indicators showing the rise slowing down at $820 while bullish consensus builds to send it further to $1500 by 2017. After bullish signs flooded the markets, the bitcoin price has shifted into an upward rally. According to technical indicators, this rally should last until we hit $820, after which a sideways market will prevail. If this scenario gets confirmed, quotes would be able to double again to the year-end objective beyond $1800. The current Elliott Wave Theory 5th phase could be evaluated at the same size....