Despite Macroeconomic Turmoil, Bitcoin Holders Remain Unfazed
As a violent credit unwinding seems inevitable, on-chain data suggests bitcoin holders remain convicted.The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.As we’ve noted in previous Daily Dives and analyses, we’re far more concerned with the current macro environment and the scenario of a violent credit unwinding in the market relative to the state of on-chain indicators and health of the derivatives market. We’re....
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Bitcoin has been recording another recovery in recent days. This comes after the dip that saw the digital asset lose its footing above $40,000 once more but this would prove to be only short-lived as the cryptocurrency has now been able to reclaim its position. Despite this, perp traders seem to remain unfazed by the […]
As sanctioned Russia’s fiat currency soars in value against the U.S. dollar, and crypto markets remain unpredictable, economists and crypto enthusiasts continue to puzzle and debate over what the next market move will be. In spite of this, several influential voices remain unperturbed when it comes to the future of decentralized digital assets, with Salvadoran president Nayib Bukele, Tesla and Spacex CEO Elon Musk, and Shark Tank’s Kevin O’Leary all recently reaffirming their faith in the cryptocurrency ecosystem in one way or another. This is the Bitcoin.com News Week....
MicroStrategy made headlines on Tuesday after it announced it has acquired an additional 301 bitcoins during a sharp drop in the price, unfazed of the ongoing market turmoil. The software company founded by Bitcoin bull Michael Saylor has shelled out $6 million for the purchase, making it the largest corporate holder of the crypto, according […]
Ethereum holders have been filling up their bags while the broader market had panicked through the dip it seems. The digital asset which had suffered from crashes and dips that had hit the market had seen its value fall as low as $2,500. However, these ‘diamond hands’ holders had remained unfazed given that data showed that they continued to accumulate ETH tokens all through the market dip. Ethereum Holders Load Up Ethereum holders, especially those who have held for longer, are more likely to add coins to their holdings while the market is in a downtrend. This was the case during the last....
The current market downturn is being attributed to a number of macroeconomic factors, such as higher-than-expected CPI data and a possible biggest Fed rate hike in 40 years. The crypto market turmoil entered the third week of September as most of the cryptocurrencies started the week on a bearish note. The total crypto market cap dipped below $1 trillion again, with several cryptocurrencies recording a double-digit downfall over the past 24 hours.The ongoing bearish turmoil has led to nearly half a billion in liquidations for the leverage crypto traders over the past 24 hours. Data from....