Market Analysis | ForkLog

ForkLog 20 27.09.2024

Bitcoin Defies Seasonal Trends with a Stellar September

In September, the price of Bitcoin surged by over 10%, contrasting sharply with the typical average decline of 5.9% for this month, according to Bloomberg. Source: Bloomberg. The altcoin index rose by over 20% due to easing financial conditions amid a global wave of interest rate cuts by the Fed, ECB, and PBOC. On September […]

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ForkLog 7 25.09.2024

Bitfinex Identifies Key Factor for Bitcoin Price Support

For bitcoin prices to maintain sustainable long-term growth, they must consolidate above the August peak of $65,200. This conclusion was reached by Bitfinex analysts in their report. According to their assessment, September’s rally in digital gold was primarily driven by derivatives trading activity amid weak demand in the spot market. Open interest in bitcoin products […]

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ForkLog 9 24.09.2024

CryptoQuant Predicts Bitcoin Price Surge Amid Rising ‘Profitable’ Coins

The increase in ‘profitable’ bitcoins above the 365 DMA signals potential further growth of the asset, according to CryptoQuant, as reported by The Block. Data: CryptoQuant. “This inflection point is typically associated with further price increases,” commented the experts. The proportion of supply in profit often serves as an emotional benchmark for investors, acting as […]

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ForkLog 8 24.09.2024

Analysts Note Shift Towards Ethereum Calls Amid Chinese Central Bank Stimulus

The ETH/BTC exchange rate has risen from Friday’s 0.038 to the current 0.0415, with market interest shifting from puts to calls, according to QCP Capital. Experts highlighted that the implied volatility in contracts for the second-largest cryptocurrency by market capitalization exceeds that of Bitcoin by 9%. In their view, this indicates improved sentiment and potentially […]

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ForkLog 8 24.09.2024

Record $79.2 Million Withdrawn from Ethereum ETF Since July

On September 23, outflows from spot Ethereum-ETFs reached $79.2 million, according to SoSoValue. The last time such high levels were recorded was on July 29. Data: SoSoValue. The net withdrawal for the entire period increased to $686.7 million. The cumulative outflow from Grayscale Ethereum Trust (ETHE) rose to $2.85 billion. On September 23, the figure […]

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ForkLog 18 23.09.2024

Fed Rate Cut Bolsters Inflows into Crypto Funds

Inflows into cryptocurrency investment funds amounted to $321 million from September 15 to 21, following $436 million the previous week, according to CoinShares. Data: CoinShares. Analysts attributed the continued positive trend to the Federal Reserve’s 50 basis point interest rate cut. Trading volume for exchange-traded products (ETP) increased by 9% to $9.5 billion. The volume […]

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ForkLog 69 20.09.2024

Conditions for Boosting Ethereum’s On-Chain Activity Identified by Expert

Ethereum network activity could see a significant uptick if the current cryptocurrency rally evolves into a sustained bull market, according to The Block‘s Jasper de Maer from Outlier Ventures. The analyst highlighted that speculation and increased engagement with dapps will primarily drive this growth. “Airdrops will support activity in the latter, as many companies will […]

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ForkLog 10 20.09.2024

Expert Analyzes Yen’s Impact on Bitcoin’s Trajectory

The depreciation of the yen against the dollar has bolstered risk appetite in the segment of risky assets, thereby supporting Bitcoin. This was stated by derivatives trader Gordon Grant to The Block. The specialist explained the rally of the leading cryptocurrency, which surged over 8% following the Federal Reserve’s 50 basis point rate cut. On […]

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ForkLog 7 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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ForkLog 8 16.09.2024

Hopes for a 50 Basis Point Fed Rate Cut Revive Crypto Fund Inflows

Inflows into cryptocurrency investment funds amounted to $436 million from September 8 to 14, following an outflow of $726 million the previous week, according to CoinShares. Data: CoinShares. Analysts attributed the reversal in dynamics to a sharp increase in expectations for a 50 basis point cut in the interest rate by the Fed. The likelihood […]

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ForkLog 8 16.09.2024

The Perilous Path of Altcoins: A Trader’s Perspective

For four months, the altcoin market has been gripped by fear and despondency. However, after the reaccumulation phase concludes, many will surge by “hundreds and thousands of percent,” while some will “perish,” trader Vladimir Cohen told ForkLog. The expert highlighted that the current cycle is characterized by an enormous number of tokens (over 2.5 million), […]

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ForkLog 7 13.09.2024

Bitcoin Nears $60,000 Amid Market Rally

Around 18:00 (Kyiv/MSK), the leading cryptocurrency experienced a rapid surge, approaching $60,000. Over the past 24 hours, the asset appreciated by 3.2%. 15-minute BTC/USDT chart on Binance. Data: TradingView. At the time of writing, Bitcoin is trading around $59,600 with a market capitalization of $1.17 trillion. These figures have returned to levels seen at the […]

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