Market Analysis | ForkLog

ForkLog 22 04.10.2024

Anonymous Buyer Acquires CryptoPunk for 24,000 ETH

On October 3, CryptoPunk #1563 was sold for 24,000 ETH (~$56.29 million), doubling the previous highest amount spent in US dollars for a token from the collection during the NFT craze before February 2022. Punk 1563 bought for 24,000 ETH ($56,292,000.00 USD) by 0x9cbb3d from 0xba1349. https://t.co/FqDvGZvg05 #cryptopunks #ethereum pic.twitter.com/hWimHKYb0x — CryptoPunks Bot (@cryptopunksbot) October […]

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ForkLog 61 04.10.2024

Expert Advocates Buying Bitcoin Amidst Decline

The current correction in Bitcoin is “insubstantial” compared to previous price pullbacks and should be seen as an opportunity to increase long positions, according to Quinn Thompson, CEO of Lekker Capital. I don’t usually give very short-term views, but seems like a no-brainer to be bidding this area with clear invalidation on the back of […]

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ForkLog 7 03.10.2024

Standard Chartered Highlights Bitcoin’s Potential Dip Below $60,000 Amid Geopolitical Tensions

On October 3-4, Bitcoin may fall below the $60,000 level due to escalating geopolitical tensions, creating an opportunity for accumulation. This was stated by Standard Chartered, according to The Block. Experts emphasized that the leading cryptocurrency does not serve as a haven from geopolitical stress. “Gold provides such a hedge. Bitcoin acts as insurance against […]

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ForkLog 10 03.10.2024

Glassnode Highlights Resilience of BTC-ETF Holders Amid Market Correction

Investors remain confident in the long-term prospects of BTC-ETF, as indicated by moderate selling pressure amidst a “paper loss” on the average position, according to Glassnode. For the first time since the ATH, #Bitcoin has established a new technical higher high, as price bounced into the $66k region. Alongside this, there is a multitude of […]

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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 10 02.10.2024

Tokens from the TON Ecosystem Plummet 30–50% After Binance Listing

Tokens from the TON ecosystem, recently launched on Binance, have faced a wave of sell-offs. Compared to their ATH, prices have dropped by 30–50%. Over the past 30 days, DOGS has decreased by 38.77%, HMSTR by 47.08%, and CATI by 37.08%. The negative trend was triggered by reactions to updated token distribution rules for the […]

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ForkLog 12 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 13 30.09.2024

10x Research Attributes Bitcoin Correction to Overbought Conditions

The recent pullback of the leading cryptocurrency is a typical correction driven by the asset being overbought, according to analysts at 10x Research, reports CoinDesk. “In last week’s report, we briefly noted that Bitcoin appears overbought in the short term, as indicated by elevated levels of the fear and greed index. Current short-term reversal signals […]

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ForkLog 8 30.09.2024

Crypto Funds See Inflows for Third Consecutive Week

Inflows into cryptocurrency investment funds from September 22 to 28 amounted to $1.29 billion, following $321 million the previous week, according to data from CoinShares. Data: CoinShares. The positive trend continued for the third consecutive week. Analysts attributed this to expectations of further measures by the Fed following a 50 basis point interest rate cut […]

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ForkLog 6 27.09.2024

Bitcoin Surpasses $66,000 as Coinbase Premium Signals Retail Demand

On September 26, the Coinbase premium reached a two-week high, indicating bullish sentiment. This was noted by CryptoQuant’s Head of Research, Julio Moreno. Higher demand in the US made Bitcoin rallied today towards $65K. The Coinbase premium increased to the highest level in two weeks. pic.twitter.com/YhJItIGNvY — Julio Moreno (@jjcmoreno) September 27, 2024 This metric […]

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ForkLog 28 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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