Bitcoin’s Next Move: Is $30,000 Just Around The Corner? Glassnode Founder Pre...
As Bitcoin teases the psychological barrier of $30,000, enthusiasts and analysts appear to be closely watching every price movement. The general sentiment so far seems to be not a question of ‘if’ but ‘when’ BTC will make its way past this significant mark. Glassnode founder, aptly named “Negentropic”, recently shed some light on Bitcoin’s current price action via a post on X (formerly known as Twitter). The analyst observed that the top cryptocurrency remains comfortably perched above the 100-hourly SMA, consistently maintaining its price above....
Related News
Approximately 6.5% of Bitcoin’s circulating supply moved on-chain while the markets found support at $47k, representing “one of the largest on-chain BTC accumulation levels” ever. On-chain crypto analytics firm Glassnode has reported significant on-chain support was found for BTC at the roughly $47,000 level, describing the event as the largest on-chain support identified since Bitcoin broke above $11,000 in late 2020.According to a March 8 report from Glassnode, approximately 1.2 million Bitcoin were moved on-chain as BTC’s price traded between $45,500 to $48,900 after bouncing off a....
Only 36% of Bitcoin’s supply has moved in the last 6 months, down from 50% during last bull season Bitcoin’s liquid supply continues to shrink, with only 36% of circulating BTC being moved on-chain in the past six months.According to data shared by on-chain crypto data aggregator Glassnode on March 21, the peak of the 2017 bull market saw 50% of Bitcoin’s supply circulating within the preceeding six months.In bull markets old coins tend to move more. This increases the relative supply of younger coins in the network. At previous $BTC tops, around 50% of the #Bitcoin supply was younger than....
Bitcoin has an extreme potential to hold $47,000 as its support level, according to Rafael Schultze-Kraft, the co-founder/CTO of blockchain analytics platform Glassnode.
The latest Glassnode report focuses on the topic of the day: bitcoin mining. While bitcoin’s price has been suspiciously flat for a while, the difficulty adjustment came in and registered an all-time high. Do the miners know something we don’t? Or is there a transfer of power going on behind the scenes? Glassnode poses a working theory on their latest The Week On-Chain. To begin with, Glassnode puts the difficulty adjustment into perspective: “Bitcoin hashrate has reached a new all-time-high of 242 Exahash per second. To give an analogy for scale, this is equivalent to all 7.753 Billion....
Long-term holders are continuing to accumulate BTC while short-term speculators are selling. According to research by on-chain analytics provider, Glassnode, 95% of the Bitcoin changing hands last was last moved less than three months ago on the blockchain.Glassnode’s March 15 The Week On-Chain report found that just 5% of spent outputs are more than 90 days old, indicating the vast majority of BTC moving on-chain are “young coins.” Other data from Glassnode has found that addresses that have been hodling BTC for at least three years have significantly increased their holdings over the....