Market Analysis | ForkLog

ForkLog 9 22.03.2024

JPMorgan Analysts Warn Bitcoin is Overbought

Despite Bitcoin’s recent correction, the asset remains in “overbought territory,” according to analysts at JPMorgan, reports The Block. The experts referred to two futures-related metrics, which suggest that the market prices of the digital gold are inflated relative to its fair value. “Both indicators point to Bitcoin remaining in overbought territory, despite the sharp correction […]

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ForkLog 9 22.03.2024

Analyst Predicts Easing of Bitcoin Pressure from GBTC Outflows

On March 21, outflows from Grayscale’s spot Bitcoin ETF, GBTC, amounted to $358.8 million, following a record $642 million on March 18. Bloomberg analyst Eric Balchunas has forecasted an end to this trend. The more I think about it the more likely the uptick in flows is related to the bankruptcies bc of the size […]

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ForkLog 13 22.03.2024

Bitcoin Poised for Consolidation Before Reaching New Heights, Predicts Expert

As long as the $65,300 support holds, a pullback completion can be anticipated. Bulls need to regain control over the $69,000 mark to resume the upward trajectory, according to the analyst known as CryptoJelleNL. #Bitcoin continues to play out as expected. So long as we hold $65,300 — I’m pretty sure the bottom is in. […]

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ForkLog 10 21.03.2024

Crypto Investors Shift Focus to RWA Tokens and Meme Coins

Over the past 24 hours, RWA tokens and “cat-themed” meme coins have shown market-leading dynamics, according to CoinGecko. The market capitalization of the first category has risen to $5.7 billion, while the second has approached $1 billion. On average, meme coins have appreciated by 15.6% over the last 24 hours, maintaining heightened interest from traders. […]

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ForkLog 8 21.03.2024

Bitcoin Spot ETF Outflows Persist for Third Consecutive Day

On March 20, the total net outflow from Bitcoin spot ETFs amounted to $261 million, continuing a negative trend for the third consecutive day. According to SoSoValue data, on March 20, the total net outflow of Bitcoin spot ETFs was $261 million, marking three consecutive days of net outflows. The ETF GBTC had a single-day […]

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ForkLog 11 19.03.2024

CoinShares Predicts Imminent Demand Shock for Bitcoin

In the short term, Bitcoin is expected to experience a surge in ETF inflows from registered investment advisors (RIA). This scenario was considered by James Butterfill, Head of Research at CoinShares. “Typically, platforms used by RIAs require three months of trading data before they can include an instrument. Thus, there may be an influx of […]

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ForkLog 10 18.03.2024

Weekly Inflows to Crypto Products Reach Record $2.92 Billion

Inflows into cryptocurrency investment products from March 9 to 15 amounted to $2.92 billion, up from $2.69 billion in the previous reporting period, according to a report by CoinShares. This positive trend has continued for the seventh consecutive week. Data: CoinShares. Year-to-date inflows have reached $13.2 billion, compared to $10.6 billion for the entire year […]

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ForkLog 5 14.03.2024

Bernstein Predicts Cryptocurrency Market Surge to $7.5 Trillion

The total market value of crypto assets is projected to nearly triple to $7.5 trillion by the end of 2025, according to a Bernstein report on Robinhood Markets shares, as reported by The Block. Experts forecast Bitcoin’s market capitalization to rise to $3 trillion, Ethereum to $1.8 trillion, and other leading projects like Solana and […]

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ForkLog 8 14.03.2024

BNB Surge Linked to Binance Launchpool and Reinvestment, Say Experts

Binance has successfully created a self-sustaining growth cycle for BNB through Launchpool. Users of the platform frequently reinvest the “farmed” assets, according to QCP Capital. Experts explained that platform clients sell tokens obtained from campaigns and increase their BNB holdings for subsequent staking. They aim to boost returns from participating in new projects. Given the […]

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ForkLog 11 13.03.2024

Glassnode Reports Bitcoin Holders Begin Selling After New All-Time High

Bitcoin’s rally above $70,000 has shifted the balance between long-term investors and speculators. Glassnode has detailed changes in on-chain metrics. In addition to the price, the realized capitalization metric also reached a new all-time high. This indicator, which assesses the “aggregate on-chain wealth,” has increased by $40 billion since March 1, reaching $504 billion. The […]

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ForkLog 8 13.03.2024

CryptoQuant: Bitcoin Bears Face Uphill Battle Amid ETF Inflows

If the current pace of capital inflows into spot Bitcoin ETFs continues, the market will face a crisis of available coins for purchase within six months, according to CryptoQuant CEO Ki Young Ju. Bears can’t win this game until spot #Bitcoin ETF inflow stops. Last week, spot ETFs saw netflows of +30K BTC. Known entities […]

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ForkLog 10 12.03.2024

Bitcoin’s Record Highs Enhance Liquidity, Reports Kaiko

Bitcoin’s new all-time high has led to record liquidity depth and a return of trading volumes to 2021 levels. Tether’s market capitalization has reached a historic high of $100 billion. Funding rates remain near peaks, indicating sustained high demand. The market depth of Bitcoin, in terms of the value of orders within 2% of the […]

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