Crypto markets tumble after miners unload 5,000 BTC in one week
With Bitcoin’s price consistently trending below its 200-day moving averages and heavy selling identified among miners, some analysts are bracing for further bearish momentum. The crypto markets are against dropping, with Bitcoin crashing below $33,000 for the first time since May 23 as Ethereum similarly broke below support at $2,500.The downward momentum comes as bearish indicators continue to stack up for Bitcoin, with popular analyst William Clemente III identifying that miners sold more than 5,000 BTC over the past week — worth roughly $164 million at current prices.Miners have sold....
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The past week’s non-fungible token (NFT) sales have dropped again, following the last few weeks of diminishing volumes. Across 14 blockchains that support NFTs, sales have slipped 29.46% lower than the week prior. Despite the drop in NFT sales volume, NFT sales stemming from the Arbitrum network spiked by 97.53% this week.
NFT Interest and Sales Nosedive
According to Google Trends (GT) data, interest in NFTs has dive-bombed, as the search query for the term “NFT” slid from a score of 100 on GT during the first month of 2022, to this week’s score of....
Bitcoin has been forced to make a retest of the $27,000 level in the past day as the miners have participated in a large selloff. Bitcoin Miners Have Sold 20,000 BTC In Past Week According to data from the market intelligence platform IntoTheBlock, BTC miners have done some significant selling during the last week. The […]
Is Bitcoin (BTC) heading back down? What caused the sudden pullback to $18.5K? Join us as we discuss this and more with Tim Warren, co-host of Coffee N Crypto, and Ray Salmond. In this week's episode of Market Talks, we welcome Ray Salmond, head of markets at Cointelegraph.The main topic of discussion with Ray will be the recent crypto market pullback and whether there is a possibility of the price of Bitcoin (BTC) going all the way down to $15K. We take a look at the charts to analize the price movements and figure out important price levels to keep an eye on.Some might see the falling....