CryptoQuant | ForkLog

ForkLog 114 24.10.2024

Bitcoin’s Potential as a Global Currency by 2030, Expert Predicts

By 2030, the first cryptocurrency is likely to be used as global money, aligning with the vision of its creator, Satoshi Nakamoto. This forecast was presented by Ki Young Ju, founder and CEO of CryptoQuant. #Bitcoin will likely be used as a “currency” around 2030. Bitcoin’s mining difficulty, which reflects the intensity of competition, has […]

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ForkLog 8 24.10.2024

Copper Identifies Bitcoin Overheating Signs Ahead of US Elections

On-chain metrics for the leading cryptocurrency indicate a short-term local peak ahead of the US elections. This conclusion was reached by Copper, as reported by The Block. According to analysts, 98% of wallet addresses are currently in unrealized profit. Historically, a sharp rise in this metric—recently reaching 75%—has often been accompanied by increased selling pressure. […]

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ForkLog 8 15.10.2024

Indicators Point to Rising Bullish Sentiment Among Bitcoin Investors

The funding rate for perpetual bitcoin contracts has reached a multi-month high, indicating bullish sentiment in the short to medium term, according to The Block. The metric, weighted by open interest, has reached 0.012%. The last time such a high level was observed was on July 27, when the price of the leading cryptocurrency rose […]

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ForkLog 9 11.10.2024

Whales Accumulate 1.5 Million BTC in Anticipation of a Rally

Investors holding more than 1,000 BTC have amassed an additional 1.5 million coins over the past six months, noted CryptoQuant analyst Axel Adler Jr. 1.5M BTC has been accumulated by whales (with >1K BTC on balance) over the last 6 months. There’s really nothing to discuss here. pic.twitter.com/7cAVWVEK15 — Axel ?? Adler Jr (@AxelAdlerJr) October […]

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ForkLog 28 11.10.2024

Bitcoin Tests $60,000 Amid Weak Macro Data and SEC Lawsuit Against Cumberland

On the evening of October 10, the price of the leading cryptocurrency fell below $59,000 before rebounding above $60,000. The selling pressure was triggered by disappointing macroeconomic data from the US and a lawsuit from the SEC against market maker Cumberland. The regulator accused the firm of operating as an “unregistered dealer” in cryptocurrency transactions. […]

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ForkLog 9 07.10.2024

US Labour Market Report Boosts Bitcoin Towards $64,000

On the night of October 7, Bitcoin approached the $64,000 mark. The drivers were positive data from the US labour market last Friday and expectations of a Federal Reserve rate cut in November, writes The Block. Experts noted that ongoing geopolitical tensions in the Middle East pose a risk to the rally of the leading […]

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ForkLog 73 04.10.2024

Coinbase Premium Approaches ‘Golden Cross’, Indicating Potential Bitcoin Recovery

The conditions for the formation of a ‘golden cross’ in the Coinbase premium suggest a potential short-term recovery in Bitcoin prices, according to CryptoQuant. The Coinbase premium is often used as an index of retail investor demand in the United States—the higher the value, the greater the buying pressure. Experts analyzed the metric on an […]

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ForkLog 14 03.10.2024

CryptoQuant Identifies Key Condition for Bitcoin Rally in Q4

Bitcoin demand is stabilizing, but a stronger metric is needed to sustain price growth in the fourth quarter, according to CryptoQuant, as reported by The Block. The metric is calculated as the difference between the daily number of mined coins and the change in the number of bitcoins that have remained unmoved for at least […]

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ForkLog 13 02.10.2024

CryptoQuant Predicts Bitcoin Surge Amid Fiat Influx into Stablecoins

Between August and September, stablecoin capitalization increased by $8.73 billion, signaling a bullish trend. Institutional investors are converting funds into stablecoins in light of the Federal Reserve’s monetary policy easing cycle. The CEO of Tether described USDT and the dollar as “friends.” The rise in stablecoin capitalization during August and September could extend the upward […]

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ForkLog 11 01.10.2024

CryptoQuant Identifies Factors Behind Bitcoin’s Retreat from $66,000

The decline of the leading cryptocurrency by over 3% on September 30 is attributed to a long squeeze in the perpetual contracts market. This view is held by CryptoQuant, reports The Block. The surge in liquidations of long positions coincided with a wave of caution in stock markets due to rising expectations of a key […]

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ForkLog 62 20.09.2024

Standard Chartered Predicts Bitcoin Rally Following Fed Rate Cut

Following a rate cut by the Fed, Bitcoin is expected to experience sustained growth due to a macroeconomic backdrop that offsets uncertainty from the US elections. This conclusion was reached by Standard Chartered, reports The Block. Experts highlighted the improved cryptocurrency market conditions amid increased chances of Kamala Harris’s victory. According to Polymarket, she leads […]

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ForkLog 8 18.09.2024

Bitcoin Balances on Exchanges Hit Lowest Level Since 2016, Experts Say

Since the beginning of the year, bitcoin balances on centralized platforms have fallen by approximately 15% to 470,000 BTC, indicating a reduction in potential selling pressure. This was reported by CryptoQuant, according to The Block. This metric has dropped to levels last seen in 2016. The trend leads to a decrease in available supply and […]

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