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Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

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After recovering its bullish momentum, the largest cryptocurrency in the market, Bitcoin (BTC), briefly broke above its key resistance level of $ 28,700. However, the cryptocurrency retracted and returned to trading within its range formed in the last week between $ 27,600 and $ 28,500. 

Despite this choppy price action, a recent blog post by Justin Bennett, trader and analyst of the crypto market suggests that BTC has established “strong” horizontal levels, which are favorable for both scalpers and investors who prefer this period of range or consolidation in the market.  Read more...

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Bitcoin Bullish Signal: Transaction Activity Hits Highest Since April 2021

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Data shows the Bitcoin average transaction count has risen to the highest level since April 2021, indicating that the asset’s price could be bullish.

Bitcoin Transactions Are Happening At An Average Rate Of 309,500 Per Day

As per the latest weekly report from Glassnode, the transaction count is currently significantly above the average for the year. The relevant indicator here is the “transaction count,” which, as its name already suggests, measures daily transfers on the Bitcoin blockchain.

When the value of this metric is high, it means many transactions are taking place on the BTC network right now. Such a trend suggests traders are active in the market currently.  Read more...

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Bullish: Shiba Inu Becomes Largest Token Holding Among Top Ethereum Whales

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Shiba Inu has gained ground tremendously over the past week as its price continues to see double-digit gains. With this newfound momentum has come renewed interest from investors and Ethereum whales are notably taking advantage of SHIB’s growth during this time.

Ethereum Whales Boost Shiba Inu To Top Holding

The year 2022 actually saw the price of Shiba Inu fall over 80% from its all-time high, triggering immense bearish sentiment among its investors. During this time, the 5,000 largest Ethereum whales, who had collectively held over $ 1 billion worth of SHIB at one point, would reduce their holdings drastically. This saw Shiba Inu’s position as the largest token holding by dollar value among these large investors eradicated over time.  Read more...

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Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

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Bitcoin continues to see a bullish uptrend across the board, with the derivatives market volume witnessing an upturn in fortunes. BTC prices in futures contracts have begun to exceed spot market prices indicating that traders are gaining confidence in the derivatives market. 

Bitcoin Derivatives Volume Shows Steep Decline In 2022

Bitcoin witnessed an extended bearish trend in 2022, resulting in a 60% drop in its price and a steep decline in bitcoin futures and options volumes. The collapse of FTX last November further diminished the market sentiments, and there was a significant withdrawal from the derivatives market, accompanied by long liquidations and a strong bearish bias.   Read more...

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Cardano (ADA) Maintains Bullish Streak, But How Are Holders Faring?

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Cardano (ADA) continues to see good momentum even after the broader crypto market seems to be slowing down over the last few days. However, despite the action that the altcoin is seeing, holders are not faring well as the vast majority of them are still seeing losses.

The Majority Of Cardano Holders Are In The Red

As data from IntoTheBlock shows, there is currently more than twice the number of those in profits who are seeing losses from their Cardano holdings. This figure puts the large majority of holders in the red region even at a time when more holders of some of the largest coins in the market are more in profit than in loss.  Read more...

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Dogecoin Bullish Signal: On-Chain Activity Shows “Major Boost”

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Data shows Dogecoin has seen a major boost in its on-chain metrics recently, something that may be bullish for the meme coin’s price.

Dogecoin Whale Transactions And Active Addresses Have Surged Recently

According to data from the on-chain analytics firm Santiment, a couple of DOGE on-chain metrics are at two-month highs right now. The relevant indicators here are the whale transaction count and the daily active addresses.

The “whale transaction count” measures the total number of Dogecoin transfers taking place on the blockchain that is worth at least $ 100,000 in value. When the value of this metric is high, it means whales are actively trading the asset right now.  Read more...

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Bullish For Bitcoin, Why The Trading Volume Kept Soaring Over The Last 7 Days

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Bitcoin is showing no weakness, and the bullish trend seems poised for an extension over the coming days. According to a report from Arcane Research, the cryptocurrency continues to lead the crypto rally as institutions return to the nascent sector, injecting more strength into the price action.

As of this writing, Bitcoin trades at $ 22,900 with sideways movement in the last 24 hours. Over the previous week, the BTC price records an 8%. Other cryptocurrencies in the top 10 by market cap are recording profits, moving with the benchmark crypto.

Bitcoin BTC BTCUSDT Chart 1  Read more...

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XRP Whale Withdraws $38M From Binance, Bullish?

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Data shows an XRP whale has taken out $ 38 million from the crypto exchange Binance. Can this be a bullish signal for the crypto’s price?

XRP Whale Has Withdrawn Almost $ 38 Million From Binance

As per data from the crypto transaction tracker service Whale Alert, a large XRP transaction has been spotted on the Ripple blockchain during the past day. This transfer involved the movement of 94,311,360 tokens, worth almost $ 38 million at the time of the transaction.  Read more...

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Bitcoin Bullish Signal: Large Whales Accumulated 37,100 BTC In Last 10 Days

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On-chain data shows large Bitcoin whales have finally started accumulating in the last 10 days as BTC has rallied strong.

Large Bitcoin Whales Have Added 37,100 BTC To Their Holdings In Recent Days

As per data from the on-chain analytics firm Santiment, multiple Bitcoin holder groups have displayed some strong accumulation recently. The relevant indicator here is the “BTC Supply Distribution,” which tells us which wallet groups on the network are holding what percentage of the total supply right now.  Read more...

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Why The Dollar Death Cross Is Bullish For Bitcoin

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Today, the Dollar Currency Index saw a death cross on the daily timeframe. Bitcoin, as an asset trading against USD, is especially susceptible to strength or weakness in the greenback. 

But what exactly happens when the dollar death crosses and what has this meant in the past for crypto?

DXY Dollar Currency Index Suffers Ominous Signal

Bitcoin was created as the anti-fiat solution in the face of unprecedented quantitative easing and big bank bailouts. 

In many ways, its arch enemy should naturally be the almighty dollar. BTC also trades against USD as the primary conversion rate and most dominant trading pair.   Read more...

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Fidelity Bullish On Crypto; Files Metaverse, NFT And Trading Patents

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Even though the crypto bear market remains in full swing, the fundamentals paint a different picture. While probably the biggest news came from Russia before Christmas, when the head of the Congressional Finance Committee said that the country plans to legalize international bitcoin and crypto trading in January, a lot is happening on U.S. soil as well.

U.S. investment giant Fidelity Investments, which manages a total of $ 4.5 trillion in assets, recently filed several crypto-related patent applications with the United States Patent and Trademark Office (USPTO). As the applications indicate, Fidelity plans to serve its clients in a crypto-powered metaverse.  Read more...

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Cardano Turns Bullish As Sharks Accumulate $83 Million ADA In 6 Weeks

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Cardano sharks have awoken from their slumber in the last two months. These large ADA wallets began an accumulation trend in early November that has seen them scoop up hundreds of millions worth of tokens in the six-week period. The implications of these on the price of the digital asset could be impactful over time.

Cardano Sharks Grab $ 83 Million

On-chain data aggregator Santiment posted a chart on Twitter that showed the accumulation trend of Cardano sharks. These wallets holding between 10,000 and 100,000 ADA had ramped up their buying starting from Nov. 7 and in the course of six weeks had drastically increased their collective holdings by more than 10%.  Read more...

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Bullish Indicator? Diamond Hands Dominate Shiba Inu Holder Base

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Shiba Inu is one of the cryptocurrencies in the market that is still receiving massive support despite the crypto winter. The meme coin is still extremely popular among investors and its holder base continues to grow. A new survey on Twitter has corroborated the support for Shiba Inu, showing that the vast majority of SHIB holders are in it for the long haul.

Diamond Hands Dominate Shiba Inu

In a poll posted by media outlet Cointelegraph on Twitter, the Shiba Inu community showed their commitment to the digital asset. The poll which asked which meme investments people were still holding onto included the likes of DOGE, AMC, GME, and of course, SHIB.   Read more...

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Bullish Sign For Litecoin? Whale Withdraws $14M In LTC From Binance

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Data shows a Litecoin whale has withdrawn almost $ 14 million in LTC from the crypto exchange Binance, a sign that may be bullish for the crypto’s price.

$ 13.8 Million In Litecoin Exits Wallet On Crypto Exchange Binance

As per an alert from the crypto transaction tracker service WhaleAlert, a transfer of 230,373 LTC has been observed on the chain during the past day.

At the time the transfer took place, this amount was worth around $ 13.8 million. Since then, Litecoin’s price has seen some uplift, making it so that these coins are now worth $ 14.2 million.  Read more...

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Here’s Why The Dogecoin Community Is Bullish On Elon Musk’s Twitter Purchase

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The Dogecoin community has been firmly behind billionaire Elon Musk’s decision to buy the social media platform Twitter since it was first announced. Musk, who seemed to be locked in a game of cat and mouse with the social media giant over the last couple of months, had eventually relented and agreed to purchase Twitter for the previously agreed price of $ 54.20 per share. Here’s why the Dogecoin community is firmly behind this decision.

Dogecoin Payments On Twitter  Read more...

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Shiba Inu Bullish Signal: Whale Withdraws 1.7 Trillion SHIB From Huobi

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Data shows a Shiba Inu whale has withdrawn 1.7 trillion SHIB from the crypto exchange Huobi, something that could prove to be bullish for the price of the crypto.

1.72 Trillion SHIB Exited Crypto Exchange Huobi During The Past Day

As per a tweet from crypto transaction tracker Whale Alert, a user has transferred 1.72 trillion SHIB from the Huobi crypto exchange to an unknown wallet, possibly a personal address.

The Shiba Inu withdraw transaction converted to almost $ 19.4 million at the time it took place, but since then the value of this stack of coins has reduced to just under $ 19.1 million. Such large transactions usually belong to a single whale or an entity consisting of multiple investors.  Read more...

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Why This Bear Market Is Especially Bullish

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Hash rate hit an all-time high, miners seem to be done selling bitcoin, institutions are still interested and long-term holders continue to stack sats.

This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Sam Callahan to talk about the three main reasons he’s bullish on bitcoin, even during the depths of the bear market.

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Bitcoin Spot To Derivatives Flow Spikes Up, Bullish Sign For Price?

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Bitcoin spot to derivatives exchange flow has surged up recently, something that has preceded local bottoms for the crypto in the past.

Bitcoin All Exchanges To Derivative Exchange Flow Observes Uplift

As pointed out by an analyst in a CryptoQuant post, whales have been moving their coins into derivative exchanges recently.

The relevant indicator here is the “all exchanges to derivative exchanges flow mean,” which measures the amount of Bitcoin being moved from spot exchanges (or other derivative exchanges) to derivative exchanges.

When the value of this metric spikes up, it means whales are moving a large number of coins to derivative exchanges from spot markets right now.  Read more...

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A European Debt Crisis Is Bullish For Bitcoin

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With the current macroeconomic crisis unfolding and many European countries at risk of debt defaults, bitcoin enters the ring as a neutral reserve asset.

This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Brandon Green to talk about how the European debt crisis is bullish for bitcoin.

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No One Is Bullish Enough On The Bitcoin Price

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Even the most bullish Bitcoiners are drastically underestimating the inevitable and meteoric rise of bitcoin as it becomes adopted on a global scale.

This is a transcribed version of the Bitcoin Magazine Podcast, hosted by P and Q. In this episode, they are joined by Christian Keroles to talk about how even the most bullish Bitcoiners are not bullish enough on the positive benefits Bitcoin will have for the world.

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