Tags : Shows

Cryptocurrency

On-chain data shows Bitcoin miners are HODLers and accumulating

Bitcoin miners are accumulating the asset at the current price range against a generally bullish backdrop and rising demand for the world’s largest cryptocurrency by market cap. When miners HODL Data from on-chain analytics platform Glassnode for the ‘Miner Net Position’ metric—which tracks miner addresses to show inflows/outflows—showed most miners were net holders of Bitcoin […]Read More

Bitcoin

Data shows funding rates for Bitcoin are “warming up again”

On-chain data for funding rates shows traders are once again piling into Bitcoin, the world’s largest cryptocurrency by market cap. Funding rates are an indicator of increased trading activity. Perpetual swap products allow traders to borrow in excess of the funds they hold—a process called using leverage—to place bigger bets for more gains while putting […]Read More

Bitcoin

Data shows Bitcoin is ‘replacing’ gold as a store of

Bitcoin, the ‘digital gold,’ is giving the real deal a run for its money. Or at least the data shows so. Gold will see use in jewelry Data from Bloomberg shows investors are scooping up Bitcoin at an unprecedented rate in current times, with the cryptocurrency fast becoming a part of portfolios around the world. […]Read More

Bitcoin

This Bitcoin Metric Shows Just How Far Away The Top

Bitcoin price is still more than 10% away from the highs set last month, and bulls have been struggling to regain the powerful momentum they had on the way up. However, while price action is feigning signs of being exhausted, blockchain data shows that growth in actual Bitcoin adoption is still on a steady, parabolic […]Read More

Market

Institutions Not Worried About Bitcoin Dropping Below $40K, Options Data

Despite bitcoin’s rapid $3,000 fall from new record highs seen Sunday, institutions seem confident about the cryptocurrency’s long-term prospects. The cryptocurrency dropped to $47,790 earlier on Monday, after just failing to pass the psychological hurdle of $50,000 over the weekend. So far, however, are there are few signs of preparations for deeper losses in the […]Read More

Bitcoin

Bitcoin Shows Double Bullish Confluence; Next Target: $50,000

A confluence of two classic technical indicators suggests Bitcoin will hit $50,000 in the short-term. Dubbed as Bull Flag and Bull Pennant, both the patterns represent a period of consolidation after a strong uptrend, except with different structures. For instance, Bull Flags appear like downward sloping channels, wherein an asset moves lower while leaving behind […]Read More