Market Analysis | ForkLog

ForkLog 16 27.06.2024

Mayer Multiple Indicator Suggests Possible Bitcoin Price Floor

The leading cryptocurrency has facilitated a “healthy reset” of bullish sentiment as the Mayer Multiple indicator reached an eight-month low, according to analyst On-Chain Collage. The Bitcoin Mayer Multiple is now at a level not seen since October 2023, despite price at $60.9K now vs. $29.9K back in October. A healthy reset of sentiment to […]

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ForkLog 5 26.06.2024

Inflow Resumes in Spot Bitcoin ETFs After Seven-Day Outflow

On June 25, inflows into BTC-ETFs amounted to $31.01 million, according to SoSoValue. This follows a seven-day period of negative trends during which investors withdrew $1.13 billion. Data: SoSoValue. On June 25, clients withdrew $30.3 million from Grayscale’s GBTC. The situation was balanced by inflows into Fidelity’s FBTC ($48.8 million), Bitwise’s BITB ($15.2 million), and […]

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ForkLog 4 26.06.2024

Indicators Suggest Bitcoin May Have Hit a Local Bottom

Over the past three weeks, the price of the leading cryptocurrency has fallen by 15% from $70,000. However, after a noticeable rebound on June 25 from $60,000, signs of a potential local bottom have emerged. This conclusion was reached by CryptoQuant. From an on-chain analysis perspective, the quotes crossed the realized price level of short-term […]

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ForkLog 8 26.06.2024

Cryptocurrency Sectors See Varied Growth Since January

Meme coins, RWA, and AI have led the growth across various sectors of the cryptocurrency market. Since January, the average daily return of the ten largest by market capitalization has been 1834%, 213%, and 72% respectively, according to Biteye. Analysts used CoinGecko data from January 1 to June 21. Data: Biteye. Experts highlighted the popular […]

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ForkLog 10 25.06.2024

Analysts Detect Bullish Sentiment in Bitcoin Options Market

Despite a market correction, derivatives indicators suggest a persistent bullish sentiment towards Bitcoin ahead of the expiration of weekly, monthly, and quarterly positions on June 28th. This was stated by several experts in a conversation with The Block. On the specified date, the put/call ratio stands at 0.51, indicating trader optimism. Open interest in Bitcoin […]

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ForkLog 17 25.06.2024

Kaiko Assesses ETF Impact on Cryptocurrency Trading Volumes

The launch of spot Bitcoin ETFs in the United States has significantly increased global cryptocurrency trading volumes, according to calculations by Kaiko. Despite reporting improved revenue and profits, Coinbase’s global market share has seen only a minor increase of 1% over the same time period. Read more here: https://t.co/GB4TXGfeaH — Kaiko (@KaikoData) June 25, 2024 […]

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ForkLog 8 25.06.2024

Mt.Gox’s Impact on Bitcoin May Be Overstated, Says Expert

The bearish pressure associated with the distribution of Mt.Gox assets may be less significant than market participants anticipate. This is the view of Sam Callahan from Swan Bitcoin, as reported by CoinDesk. “Creditors who wanted to cash out their coins over the past decade had the opportunity to do so by selling their bankruptcy claims. […]

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ForkLog 12 25.06.2024

Fear and Greed Index Signals Bearish Sentiment

On June 25, the cryptocurrency Fear and Greed Index dropped to 30 points, a level last seen in September 2023. Cryptocurrency Fear and Greed Index. Data: Alternative.me. The metric’s decline occurred amid a general downturn in the crypto market. From June 24 to 25, Bitcoin fell from $62,500 to $59,100, dragging other assets down with […]

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ForkLog 24 25.06.2024

Bitcoin ETF Outflows Persist for Seventh Consecutive Day

On June 24, holders of BTC-ETF shares reduced their positions by $174.5 million, according to SoSoValue. This negative trend continued for the seventh consecutive day. Data: SoSoValue. Investors withdrew $90 million from Grayscale’s GBTC, $35 million from Fidelity’s FBTC, and $21 million from Franklin Templeton’s EZBC. Other products either saw no change or outflows up […]

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ForkLog 6 24.06.2024

Investors Withdraw $584 Million from Crypto Funds

Between June 15 and June 21, outflows from cryptocurrency investment products totaled $584 million, amounting to $1.18 billion over the past two weeks, according to calculations by CoinShares. Analysts attributed the continued negative trend to persistent pessimism regarding the Federal Reserve’s interest rate trajectory following its latest meeting. Data: CoinShares. The total volume of assets […]

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ForkLog 7 24.06.2024

Bitcoin Dips Below $63,000: Expert Opinions and Market Forecasts

Bitcoin whales have slowed their transactional activity and shifted to a “risk-off” mode as the market retreats. An expert predicts Ethereum could fall to $2400 following the launch of ETFs, as these instruments may not meet investor expectations. As the leading cryptocurrency fell below $63,000, whales reduced their activity in the derivatives market, according to […]

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ForkLog 6 20.06.2024

Bitcoin Whales Offload $1.2 Billion in Fortnightly Sales

The largest Bitcoin holders, including miners, have reduced their positions by $1.2 billion over-the-counter in the past two weeks, according to estimates from CryptoQuant. #Bitcoin long-term holder whales sold $1.2B in the past 2 weeks, likely through brokers. ETF netflows are negative with $460M outflows in the same period. If this ~$1.6B in sell-side liquidity […]

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