Bitcoin Jumps 10% In 24 Hours, Dead Cat Bounce Or Real Move Ahead?
Bitcoin has jumped more than 10% in the last 24 hours as the coin’s price reaches $47.5k. Past pattern may shed light on whether this is just a dead cat bounce or a lead up to a real move up. Bitcoin Netflows Of Past Dead Cat Bounces Compared As pointed out by a CryptoQuant post, a look at the BTC netflows of the past cycles may reveal the pattern that dead cat bounces have followed historically. The Bitcoin exchange “netflow” is an indicator that’s defined as the difference between the inflow and the outflow. When exchanges observe higher inflows compared to the....
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Creator of the popular Bitcoin price prediction chart “stock-to-flow”, PlanB, puts $135k target for BTC by December 2021. What Is The Bitcoin Stock-To-Flow Model? The BTC stock-to-flow (S2F in short) method is a price prediction model popularized by PlanB. S2F is based on the ratio between the stock (current supply) and the flow (annual production). It’s often thought that PlanB is the creator of the S2F model itself, however, that isn’t the case. The method has been used in the past for other assets like gold and silver, but PlanB was the first to implement it for....
Here’s what futures market data could suggest about whether this latest Bitcoin recovery will be a dead-cat bounce or not. Bitcoin Futures Market Shows No Signs Of Overheating So Far As explained by an analyst in a CryptoQuant Quicktake post, the BTC funding rate has stabilized around a relatively low value recently. The “funding rate” […]
Ethereum has seen a strong bounce since the September lows near $310. The coin now trades for $455, though peaked at $465 a few days ago. Technical trends show that the cryptocurrency will likely continue its ascent in the months ahead. Analysts are specifically eyeing a move toward $800, as that’s where macro resistance lies. Ethereum Technical Trends Suggest Growth Toward $800 Possible Ethereum has seen a strong bounce since the September lows near $310. […]
Bitcoin is forming a textbook downside continuation structure called Bearish Pennant whose ultimate breakout target lurks near $16,000. Bitcoin (BTC) has rebounded by more than 25% after bottoming out at $30,000 during the May 19 crash. But the cryptocurrency continues to tread ahead under the possibility of facing another period of strong sell-offs owing to a classic technical indicator pattern.Bitcoin price in a 'Bearish Pennant' Dubbed as Bearish Pennant, the pattern forms when an asset consolidates after a strong move downward and forms a small symmetrical triangle-like price range. It....
Over the past 24 hours, the Shiba Inu community destroyed over 100 million SHIB by sending the tokens to Shiba Inu’s dead wallet, a token-burning mechanism that crypto protocols use to control the number of circulating tokens in the market. SHIB Tokens Burned Through Ten Different Transactions According to a Shibburn report, the Shiba Inu Army has collectively destroyed 111,173,988 SHIB tokens within the past 24 hours. The tokens were burned in 10 different transactions by members of the community. Related Reading: Ethereum Addresses In Profit Touches 11-Month High Ahead Of Shapella....