Investors’ Unrealized Bitcoin Profits are Higher Than 2019 Peak; A Warning Sign?
Bitcoin has been on a tear throughout the past few weeks, with its price posting 2017-style gains as buyers take charge After reaching highs of $19,000, the cryptocurrency’s momentum began stalling and it entered yet another consolidation phase These bouts of sideways trading have been seen on multiple occasions throughout the recent uptrend. They are nearly always followed by upside One trader is noting that investors unrealized profitability has now passed that seen during the […]
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Total value locked across decentralized finance-enabled smart contracts has dipped 35% from its peak. The drop in the price of Ether (ETH) is failing to shake out the long-term holders, while the decentralized finance (DeFi) sector is also providing opportunities for investors. So suggests a new Glassnode report that noted many long-term Ether holders (>155 days) are sitting atop profits despite ETH/USD’s 55% decline from its peak level above $4,300. In comparison, the short-term Ether holders (“After almost hitting 46% of the market cap in unrealized gain, short-term holders are now....
Based on on-chain data, here’s how much unrealized profit the various Bitcoin whale and miner groups are holding right now. Bitcoin Whale & Miner Profits Compared Across Cohorts In a new post on X, CryptoQuant founder and CEO Ki Young Ju discussed the total unrealized profits currently held by the various on-chain cohorts. Ju has […]
Gloss, the team behind the world’s largest arts and media company, is bringing the physical artwork into the digital universe with its first NFT titled ‘Warning Sign’. The team is giving one lucky bidder the opportunity to purchase the 1/1 Warning Sign NFT. The holder of the Banksy Warning Sign NFT will also receive a […]
A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin.
Elon Musk Says ‘Spending Is the Real Problem’
Tesla CEO Elon Musk made several tweets about the U.S. national debt and government spending last week. He also warned against the proposal to tax unrealized capital gains, aimed at billionaires, which was scuttled Friday amid questions about whether it would even be constitutional.
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Glassnode data finds Bitcoin has entered the "belief zone" for the first time since the July 2019 top, indicating a bull cycle is nearing. Bitcoin (BTC) might be in the early phase of a major new bull cycle, a key on-chain metric suggests on Oct. 27. The dominant cryptocurrency has entered the “belief zone,” which historically marked the start of explosive rallies.According to Glassnode, the last time the Net Unrealized Profit/Loss (NUPL) reached the belief zone was in June 2019. In the month that followed, Bitcoin rose from around $7,500 to $13,868 by over 80%.The NUPL of Bitcoin on top....