Market Analysis | ForkLog

ForkLog 43 26.08.2024

Stablecoin Market Capitalization Reaches Record $168 Billion

The combined market capitalization of stablecoins has reached a new all-time high of $168 billion, marking an 11-month streak of growth. And just like that, we’re at a new all-time high. Total stablecoin market cap, excluding algorithmic stables, is now at the highest point ever, surpassing its previous high from early 2022. New money is […]

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ForkLog 7 23.08.2024

Bitcoin’s Reaction to Powell’s Speech and Growth Signals

During a speech in Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell stated that “the time has come to lower the rate.” The pace of monetary policy easing will depend on economic indicators. The next meeting is scheduled for September 18. Market participants anticipate a rate cut of 0.25% with a probability of 67.5%, and […]

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ForkLog 23 23.08.2024

Bitcoin ETF Inflows Persist for Sixth Consecutive Day

On August 22, inflows into spot Bitcoin ETFs amounted to $64.9 million, according to SoSoValue. This positive trend continued for the sixth consecutive day. Data: SoSoValue. Clients withdrew $28.4 million from Grayscale’s GBTC and $11.5 million from Bitwise’s BITB. The structure of inflows is as follows: IBIT from BlackRock — $75.5 million; FBTC from Fidelity […]

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ForkLog 13 22.08.2024

Dovish Fed Minutes Boost Bitcoin Bullish Sentiment

Open interest in bitcoin futures surged from $30.21 billion to $31.92 billion following increased prospects of a Fed policy easing in September. The reduction in selling pressure from Mt.Gox clients and the German government, combined with heightened volatility, set the stage for renewed growth. Overbought conditions in several technical indicators could pose a challenge. On […]

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ForkLog 7 20.08.2024

Bitcoin Options Reflect Trader Optimism Post-US Elections

The distribution of bitcoin options set to expire four days after the US presidential elections reveals optimistic market expectations. This is reported by CoinDesk, citing a report from Wintermute. The opportunity to open these positions on Deribit emerged a month ago, with volumes already reaching $345.83 million. The put/call ratio stands at approximately 2:1, indicating […]

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ForkLog 11 20.08.2024

Experts Declare End to Bitcoin Miners’ Capitulation

The Hash Ribbons indicator has signaled the end of bitcoin miners’ capitulation, suggesting a reduction in their selling pressure on the market, according to CryptoQuant. Hash Ribbons signals the end of miner capitulation ⛏️ Hash Ribbons are a popular indicator that highlights periods of stress in the mining market. It uses the 30 and 60-day […]

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ForkLog 42 20.08.2024

CryptoPunk Sold at a Loss After $24 Million Purchase

Deepak Thapliyal, the owner of the most expensive CryptoPunk #5822, who acquired the token for 8000 ETH ($23.7 million at the time of the transaction) in 2022, has parted with the asset without disclosing the sale amount. End of an Era. ? #5822, Enjoy your new ? — Deepak (@dt_nfts) August 19, 2024 On August […]

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ForkLog 11 19.08.2024

Nansen Attributes Ethereum Decline to Market Sentiment Shift

The waning optimism among Ethereum investors has played a more significant role than the outflow from ETFs linked to the second-largest cryptocurrency by market capitalization. This conclusion was reached by Nansen, reports Cointelegraph. Analysts associated the reduced risk appetite of market participants with the release of macroeconomic statistics. According to experts’ calculations, since the start […]

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ForkLog 7 19.08.2024

Reduced Odds of Fed Rate Cut Slow Crypto Fund Inflows

Inflows into cryptocurrency investment funds amounted to $30 million from August 11 to 17, following $176 million the previous week, according to data from CoinShares. Data: CoinShares. Analysts attributed the weakening positive trend to recent macroeconomic data, which reduced the likelihood of the Fed being prepared to cut the key rate by 50 basis points […]

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ForkLog 13 16.08.2024

Bitcoin Chart Forms ‘Death Cross’ Indicating Potential Sell-Off

The decline of Bitcoin’s price below $58,000 has led to the formation of a ‘death cross,’ a sign of a potential new wave of selling. #Bitcoin just printed a bearish cross on the daily chart, with the 50 MA crossing below the 200 MA, signaling short-term weakness in the market. This is the second bearish […]

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ForkLog 10 15.08.2024

Bitwise Reports 44% of Asset Managers Increased BTC-ETF Holdings

In the period from April to June, 44% of asset managers increased their investments in spot Bitcoin ETFs, while another 22% maintained their existing positions. These figures were reported by Bitwise, based on filings with the SEC. A few initial thoughts after reviewing the Q2 Bitcoin 13-F filings: 1) The Institutions Are Still Coming; Total […]

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ForkLog 8 14.08.2024

Stablecoin Issuance Could Propel Bitcoin’s Continued Rally, Says 10x Research

The surge in stablecoin issuance might be the key to sustaining Bitcoin’s rally, according to Marcus Thielen, founder and CEO of 10x Research. #Bitcoin Traders Speculate on Potential Bullish Impact of $2.5 Billion Stablecoin Inflow ?1-10) Monitoring and analyzing crypto money flows is crucial for assessing market conditions that can act as tailwinds or headwinds […]

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