Market Analysis | ForkLog

ForkLog 18 01.05.2024

Expert Highlights Declining Confidence in Bitcoin and Ethereum Growth

A significant drop in the implied volatility (IV) of at-the-money options for Bitcoin and Ethereum indicates a waning confidence in potential price increases, according to trader Gordon Grant, as reported by The Block. According to the dashboard, the relevant metric for weekly and monthly contracts linked to the second-largest cryptocurrency by market capitalization has plummeted […]

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ForkLog 24 30.04.2024

Bitcoin Records First Monthly Loss as Ethereum Falls to $3000

The price of the leading cryptocurrency has shown negative monthly dynamics for the first time since August 2023, decreasing by 12% in April—from $70,000 to $61,000. Monthly BTC/USDT chart on Binance. Data: TradingView. The correction over the past 30 days has been the largest since June 2022, when Bitcoin opened the month at around $31,000 […]

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ForkLog 18 30.04.2024

Bitcoin Spot ETF Outflows Persist for Fourth Consecutive Day

On April 29, the net outflow from spot Bitcoin ETFs amounted to $51.5 million, marking the fourth consecutive day of this negative trend. According to SoSoValue, the total net outflow of Bitcoin spot ETF yesterday, April 29, was $51.5316 million. GrayscaleETF GBTC had a single-day net outflow of $24.6607 million. ARKB had a single-day net […]

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ForkLog 11 29.04.2024

Bitcoin ETF Interest Wanes, Fueling Crypto Fund Outflows

Outflows from cryptocurrency investment products amounted to $435 million from April 20 to 26. This negative trend continued for the third consecutive week, according to CoinShares. Data: CoinShares. While withdrawals from Grayscale’s GBTC are slowing down [a nine-week low of $440 million], we observe a weakening in inflows to “new” ETFs — inflows amounted to […]

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ForkLog 16 29.04.2024

Ethereum’s Transaction Fee Drop Signals Potential Altcoin Season

The reduction of transaction fees on the Ethereum network to a six-month low of $1.12 may indicate the onset of an altcoin season, according to Santiment. ? #Ethereum‘s average fee level has dipped to just $1.12 per network transaction, the lowest average cost in a day since October 18th. Traders historically move between sentimental cycles […]

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ForkLog 26 24.04.2024

Hong Kong to Launch Bitcoin ETF Trading on April 30

Trading of the spot Bitcoin ETF, launched by Bosera Capital and HashKey Capital on the Hong Kong Stock Exchange, will commence on April 30. This information comes from firm representatives, as reported by Bloomberg. On April 15, the Hong Kong Securities and Futures Commission approved applications from Boshi International, HashKey Capital, China Asset Management, and […]

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ForkLog 21 24.04.2024

Potential Bitcoin Market Impact from Mt.Gox Creditor Sales Highlighted by Analysts

The impending sale of 142,000 BTC (>$9 billion) by creditors of the defunct Mt.Gox platform in the coming weeks could “spook the market” and exert pressure on Bitcoin. This conclusion was reached by K33 Research. It is anticipated that Mt.Gox will distribute its assets, comprising 142,000 BTC, 143,000 BCH, and 69 billion yen, to clients […]

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ForkLog 8 23.04.2024

Stablecoin Market Capitalization Reaches Two-Year High

On April 19, the combined market capitalization of stablecoins pegged to the US dollar rose to $165.2 billion, a level last seen in June 2022, according to The Block. The all-time high was $179.4 billion in April 2022. One of the growth drivers was interest in the “synthetic dollar” USDe launched by Ethena Labs in […]

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ForkLog 8 23.04.2024

BlackRock’s Spot Bitcoin ETF Sees 70 Consecutive Days of Inflows

Inflows into BlackRock’s IBIT have reached 70 consecutive days, placing the product among the top ten exchange-traded funds with the longest streaks of daily inflows. Bloomberg analyst Eric Balchunas highlighted this achievement. $IBIT inflow streak currently at 69 DAYS. one more day and it moves into Top 10 and ties $JETS (a streak I was […]

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ForkLog 25 22.04.2024

Expert Warns of Potential Yield Crisis at EigenLayer

Tokens used in EigenLayer’s liquid staking will need greater utility within the DeFi sector to avert a potential future yield crisis for the protocol, according to 3Jane DEX developer known as Chudnov. 1/ EigenLayer is facing a *major* yield crisis, and nobody is talking about it. @eigenlayer has >$15B in TVL but AVS’s will actually […]

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ForkLog 7 22.04.2024

Fed’s Rate Decision Delay Triggers Fresh Outflows from Crypto Funds

Outflows from cryptocurrency investment products amounted to $206 million from April 13 to 19, following $126 million the previous week, according to analysts at CoinShares. Source: CoinShares. Experts attributed the continued negative trend to concerns regarding the policy of the Fed. “The data indicates a decline in investor appetite for ETP/ETF amid expectations that the […]

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ForkLog 13 18.04.2024

The Crucial Role of the $60,000 Threshold for Bitcoin’s Price Stability

Should Bitcoin fail to maintain the $60,000 level, it risks a decline to $52,000 before resuming its upward trajectory, according to CryptoQuant. Experts noted that a pessimistic outcome is not inevitable, thanks to the dominance of ETF purchases. Institutional clients could absorb the excess supply resulting from liquidations triggered by a breach of $60,000. Analysts […]

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