Market Analysis | ForkLog

ForkLog 15 19.06.2024

Bitcoin Faces Potential Drop to $60,000 if $65,800 Support Breaks, Says CryptoQuant

Bitcoin has neared the aggregate breakeven level for speculators (~$65,800). This mark will act as support, and if breached, could trigger a correction down to $60,000, according to analysts at CryptoQuant, reports The Block. Experts believe that traders closing arbitrage deals have intensified downward pressure on the price of the leading cryptocurrency. Currently, the market […]

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ForkLog 10 18.06.2024

Bitfinex Analysts Anticipate Bitcoin Price Consolidation Phase

Analysts at Bitfinex have suggested that the bitcoin market has entered a consolidation phase, characterized by gradual sales from long-term holders (LTH). Last week, we saw a sharp turn in #Bitcoin‘s fortunes with significant net outflows from Spot Bitcoin ETFs, ending a 20-day inflow streak.This is reminiscent of the outflows we saw at the end […]

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ForkLog 6 18.06.2024

Investors Withdraw $561 Million from Spot Bitcoin ETFs

On June 17, outflows from BTC-ETFs amounted to $145.8 million, totaling $561.1 million over the past three trading days, according to SoSoValue. Data: SoSoValue. The worst performance on the last reporting day was seen by Fidelity’s FBTC (-$92 million). Clients withdrew $50 million from ARK Invest’s ARKB. For other approved exchange-traded funds, changes ranged from […]

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ForkLog 41 17.06.2024

DYOR: What it is and why it matters to crypto investors

The cryptocurrency market is a world of uncertainty. Even seasoned investors are sometimes wrong-footed by abrupt price swings and sudden turns of events. An industry with a high project “mortality” rate, it demands not just intuition but a grasp of the fundamental principles of token valuation. Fundamental analysis is the assessment of an asset to […]

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ForkLog 9 17.06.2024

Investors Withdraw $621 Million from Bitcoin Products Following Federal Reserve Shock

The outflow from cryptocurrency investment products between June 8 and June 14 amounted to $600 million, including $621 million from bitcoin-based products, according to calculations by CoinShares. These figures were the highest since March 2024, equivalent to a third of the inflows from the previous week. Data: CoinShares. The total volume of assets under management […]

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ForkLog 15 17.06.2024

Crypto Startups Surpass $100 Billion in Funding

Since late May 2014, cryptocurrency startups have attracted $101.4 billion, according to data from DeFi Llama. Data: DeFi Llama. For comparison, by the end of May 2014, the figure stood at $17.1 million. At that time, five years had passed since the creation of Bitcoin and one year since the launch of Ethereum. A decade […]

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ForkLog 7 14.06.2024

Ethereum Holders Accumulate Near-Record Amount of Coins Post-Fed Meeting

On June 12, Ethereum holders added 298,000 ETH (~$1.34 billion) to accumulating addresses, marking the second-highest daily amount in history, according to CryptoQuant. Ethereum demand has spiked. Buying by permanent holders was the second highest on record yesterday: 298K ETH. The record daily buying was last September 11: 317K ETH. pic.twitter.com/0qMVpNU8ht — Julio Moreno (@jjcmoreno) […]

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ForkLog 25 14.06.2024

Bernstein Predicts Bitcoin to Reach $200,000 by End of 2025

Analysts at Bernstein have raised the target price for the leading cryptocurrency to $200,000 by the end of 2025, up from $150,000. This was reported by The Block. The forecast is driven by expectations of “unprecedented demand from bitcoin-based spot exchange-traded funds” managed by BlackRock, Fidelity, Franklin Templeton, and others. “We believe that ETFs have […]

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ForkLog 13 13.06.2024

Analyst: Bitcoin Halving Triggers Miner Capitulation

On-chain analyst Ali Martinez is convinced that the reduction in Bitcoin mining profitability following the April halving has triggered a “wave of capitulations” among miners.

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ForkLog 11 13.06.2024

Renewed Interest in Spot Bitcoin ETFs Following Two-Day Outflows

On June 12, inflows into spot Bitcoin ETFs amounted to $100.9 million. Over the previous two days, investors had withdrawn $265 million from these products, according to SoSoValue. This followed a series of inflows during which approximately $4 billion entered these instruments, including $1.8 billion in the last five days. Data: SoSoValue. On June 12, […]

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ForkLog 11 13.06.2024

Crypto Airdrops Distribute Over $4 Billion in Tokens This Year

Since the beginning of the year, participants in the crypto industry have received approximately $4 billion in various tokens through airdrops, according to an assessment by The Block. The top three airdrops were Jupiter, StarkNet, and Notcoin. Each project distributed around $1 billion based on the number of tokens issued and average prices in the […]

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ForkLog 24 12.06.2024

Arbitrage Strategies Curb Bitcoin Growth Amid ETF Inflows

Despite significant inflows into BTC-ETFs, arbitrage strategies between spot and derivative markets are restraining buyer pressure, according to Glassnode. To substantiate and assess ETF demand, analysts compared the balance of product issuers (862,000 BTC) with other major exchange structures: Mt.Gox trustee = 141,000 BTC; US government = 207,000 BTC; all exchanges = 2.3 million BTC; […]

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