On-chain data shows the Bitcoin miners have been selling recently, but this quant has argued that this selloff shouldn’t have much impact on the market. Bitcoin Miner Reserve Has Registered A Decline Recently In a CryptoQuant Quicktake post, an analyst discussed the latest selling pressure that the miners have been putting on the market. The…
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Global investment bank JPMorgan has warned of additional outflow from Grayscale’s bitcoin fund, cautioning that it will put “further pressure on bitcoin prices over the coming weeks.” The bank’s analyst also explained that the $3 billion inflow into new spot bitcoin exchange-traded funds (ETFs) “reflects a rotation from existing bitcoin vehicles” or “from retail investors…
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A Bitcoin on-chain indicator is currently forming a pattern that has previously led to significant selloffs of the cryptocurrency. Bitcoin 100-Day SMA Supply Adjusted Dormancy Has Rapidly Gone Up As pointed out by an analyst in a CryptoQuant post, the selloff could potentially be even stronger than the one seen in November 2018. A relevant…
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On-chain data shows Bitcoin whales with more than 1k BTC were the main sellers in the latest crash, as other cohorts displayed muted activity. Bitcoin Spent Output Value Bands Shows Spike From 1k-10k Group As pointed out by an analyst in a CryptoQuant post, unlike in the previous declines, the 10-100 BTC and 100-1k BTC…
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As reports of a new Covid-19 strain spread, tanking the price of many cryptocurrencies, El Salvador bought the dip. The country has added 100 more bitcoins to its treasury despite a recent warning by the International Monetary Fund (IMF), bringing the total number of bitcoins purchased to 1,220. El Salvador Buys the Dip: 1,220 Bitcoins…
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