Traders on the Chicago Mercantile Exchange (CME) have been increasing their short positions on Bitcoin futures ahead of the US Federal Reserve’s interest rate decision, according to K33 analyst David Zimmerman. This move indicates a cautious approach in the market, as the Federal Open Market Committee (FOMC) is expected to announce its latest interest rate…
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The crypto market has recently seen some ups and downs, with Bitcoin facing many fluctuations. According to a recent post by a CryptoQuant analyst known as ‘Kripto Mevsimi,’ the Bitcoin Market Value to Realized Value (MVRV) ratio has dipped below its 365-day moving average. This specific indicator often identifies potential market bottoms and zones where…
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Recent analysis from CryptoQuant highlights that Bitcoin price may soon undergo a significant move, according to an indicator known as the Coinbase Premium. A CryptoQuant analyst under the pseudonym ‘Avocado Onchain’ noted earlier today that the Coinbase Premium, which measures the price gap between Bitcoin on Coinbase and Binance, is showing signs of convergence. The…
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The crypto market has been struggling with prolonged sideways movement in recent months. Since March 2024, the market has failed to make a successful breakout above previous peaks, leaving investors frustrated. According to a recent report by CryptoQuant analyst Crypto Dan, this continuous pattern of stagnation leads many to wonder when the market might see…
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Following its renewed peak above $73,000 back in March, Bitcoin has been experiencing a prolonged period of price stagnation ever since, leaving many investors wondering about the potential for future movements. According to a recent analysis by a CryptoQuant analyst under the pseudonym ‘Avocado,’ this stagnation may bear a resemblance to a similar pattern observed…
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Bitcoin price action despite being wobbly in the past days, is still being discussed by analysts. Earlier today, a CryptoQuant analyst turned the spotlight to the Bitcoin’s NVT Golden Cross, a metric that has been known to signal potential local tops and bottoms in Bitcoin’s price. According to the analyst, Burak Kesmeci, this metric is…
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Bitcoin has been experiencing a notable increase in market activity, with recent movements indicating that sellers are becoming more active. A Major Price Drop On The Horizon? According to a post by XBTManager, a contributor on the CryptoQuant QuickTake platform, Bitcoin’s price rise last week, which saw it temporarily break out of its recent range,…
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According to the latest data from CryptoQuant, bears might be in control of Bitcoin given the asset’s funding rates reaching a negative level across all crypto exchanges, including Binance. For context, funding rates are essential in perpetual futures markets to ensure the price of perpetual contracts aligns closely with the spot market. These rates can…
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Matrixport, a digital asset financial services group born from Bitmain, an industry leader in Bitcoin mining, projects a bullish breakout for Bitcoin in the upcoming fourth quarter of 2024. In their latest research report titled “Matrix on Target: Bullish Prospects for Bitcoin in Q4,” the firm provides four reasons to be bullish in the upcoming…
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An analyst from the CryptoQuant QuickTake platform has now drawn attention to a particular trend tied to the Coinbase Premium Index (CPI) which currently suggests a grim move brewing for Bitcoin. This indicator, when placed with its Simple Moving Average over 14 days (SMA14), has often shown a significant correlation with Bitcoin’s selling pressure, shedding…
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