Bitcoin’s new all-time highs appear to have been triggered by a dramatic reduction in active supply over recent months. Bitcoin investors appear to be increasingly sitting on their hands in hopes of higher prices, with the share of Bitcoin’s supply that has remained inactive for the past three months spiking to a record high of…
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Bitcoin wallets that haven’t seen outflows for more five months and are currently sitting on $754 billion worth of the asset. On-chain analytics provider glassnode reports that long-term Bitcoin holders are refusing to sell despite the BTC markets rallying to a five-month price high. In its Oct. 11 “Week on Chain” report, Glassnode noted that…
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The Bitcoin cycle top would likely come in at price levels above $166,000 per coin if history repeats. After breaking out of the two-months ascending triangle, the price of Bitcoin (BTC) is firmly staying above $60,000. Current on-chain volume suggests investors are still strongly buying Bitcoin at current price levels. Furthermore, the current price is…
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Chainlink is down 30% from its all-time high, but on-chain and derivatives indicators show there is increasing interest from investors. Chainlink (LINK) has had a pretty rough month, dropping as much as 45% after marking a $37 all-time high on Feb. 20. While the recent losses may look surprising when compared against other altcoins’ gains,…
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On-chain data shows that while miners are selling less BTC, old investors are realizing profits. On-chain analytics provider, Glassnode, has published data revealing that Bitcoin miners are accumulating while long-term investors are taking profits. Despite January seeing heavy selling from miners, Glassnode’s report shows that miner outflows have dried up during February so far. Chart…
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Despite on-chain metrics indicating Bitcoin investors will soon face losses, Glassnode believes BTC is ready to bounce. A Jan. 25 report published by crypto data aggregator Glassnode has noted that Bitcoin’s adjusted Spent Output Profit Ratio, or aSOPR, suggests that a further decrease in prices will leave many investors in the red according to when…
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Glassnode’s Rafael Shultze-Kraft has shared several on-chain metrics that he believes suggest Bitcoin will comfortably charge into six-figure price-thresholds in future. The CTO of crypto market data aggregator Glassnode, Rafael Schultze-Kraft, has described a slew of Bitcoin market indicators as “insanely bullish” and predicted prices are set to increase by more than 10 times. On…
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