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…
Read more
On-chain data shows the Bitcoin miner outflows have surged, suggesting that selling from this cohort may be behind the crypto’s decline to $20,700. Bitcoin Miner Outflows Have Registered Multiple Spikes Recently As pointed out by an analyst in a CryptoQuant post, on Wednesday, miners deposited 669 BTC to exchanges. A relevant indicator here is the…
Read more
On-chain data shows the Bitcoin inflows to Coinbase have spiked recently, a sign that may turn out to be bearish for the crypto. Bitcoin Exchange Inflows To Coinbase Register High Values As pointed out by an analyst in a CryptoQuant post, a total of 20k BTC was transferred to Coinbase recently. The “exchange inflows” is…
Read more
On-chain data shows the Bitcoin open interest RSI is currently forming a pattern that can lead to a short-term correction in the asset’s value. Bitcoin Open Interest 14-Day RSI Has Been Climbing Up Recently As pointed out by an analyst in a CryptoQuant post, a short-term bearish correction might soon take place for BTC. The…
Read more
On-chain data shows the Bitcoin reserve on Binance has been sharply going up in the last couple of days, something that could be a sign of dumping. Bitcoin Reserve On The Crypto Exchange Binance Has Observed Sharp Growth In Recent Days As pointed out by an analyst in a CryptoQuant post, the funding rates have…
Read more
Bitcoin has sharply rebounded back to $20.4k, but is the decline actually over? This on-chain metric may suggest otherwise. Bitcoin Coin Days Destroyed Metric Has Spiked Up Over The Past Day As pointed out by an analyst in a CryptoQuant post, BTC Coin Days Destroyed is showing a spike at the moment. A “coin day”…
Read more
After surging to as high as $20.9k, Bitcoin has today observed a slight decline back into the low $20k levels as a result of profit taking from short-term holders. Bitcoin Short-Term Holder SOPR Has Been Elevated Over The Past Two Days As pointed out by an analyst in a CryptoQuant post, the short-term holders seem…
Read more
