Market Analysis | ForkLog

ForkLog 24 25.01.2024

Record Outflows from Spot Bitcoin ETFs

On January 24, outflows from the Grayscale Bitcoin Trust ETF (GBTC) reached $429.3 million, surpassing the combined inflows into other spot bitcoin ETFs ($204.7 million). These calculations were provided by Bloomberg analyst James Seyffart. Day 9 — More $GBTC outflows, -$429 million. Still waiting on BlackRock data. pic.twitter.com/S2mjoEvg5o — James Seyffart (@JSeyff) January 25, 2024 […]

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ForkLog 14 24.01.2024

Arthur Hayes Predicts Bitcoin Drop Below $35,000 Amid “Excessive” Inflation

Arthur Hayes has forecasted a decline in Bitcoin prices below $35,000, citing the Federal Reserve’s policies and Middle Eastern conflicts as key factors. Other crypto experts are divided, with expectations ranging from $20,000 to $60,000. The leading cryptocurrency faces the risk of falling below $35,000 due to global macroeconomic and political upheavals, according to former […]

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ForkLog 20 24.01.2024

Shift in Interest Towards Altcoins Following ETF Approval

The approval of spot Bitcoin ETFs has become a classic “sell the news” event, leading to a capital rotation into Ethereum, Solana, and altcoins in general. This trend was analyzed by Glassnode. Analysts noted that after the collapse of FTX, Bitcoin’s dominance increased from 38.9% to 49.8% at the expense of stablecoins (whose share fell […]

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ForkLog 22 23.01.2024

Rival Bitcoin ETFs Attract Over 100,000 BTC

Nine “new” spot Bitcoin ETFs have attracted 109,221 BTC. Due to GBTC sales, net outflows from instruments on January 22 reached 4,537 BTC ($179.6 million). Traders do not rule out a decline in Bitcoin to $36,000. The volume of coins held by spot Bitcoin ETFs, excluding the Grayscale Bitcoin Trust (GBTC), has reached 109,221 BTC […]

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ForkLog 11 22.01.2024

Cryptocurrency Products Experience First Fund Outflow of the Year

From January 13 to 19, cryptocurrency investment products saw an outflow of $20.8 million, following a near-record inflow of $1.19 billion the previous week, according to a report by CoinShares. Data: CoinShares. Trading volumes decreased from a historic high of $17.5 billion to $11.8 billion, a figure nearly six times the 2023 average (~$2 billion). […]

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ForkLog 8 22.01.2024

Arthur Hayes Predicts Bitcoin’s Fall Below $40,000

The leading cryptocurrency is expected to drop below $40,000, with the decline continuing until January 31, when the US Treasury announces its quarterly borrowing plan. This forecast was made by former BitMEX CEO Arthur Hayes. $BTC looks mad heavy. I think we break $40k. I went long some 29Mar $35k strike puts. I think we […]

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ForkLog 35 17.01.2024

Bitcoin’s Correction Linked to Profit-Taking by Holders, Say Analysts

The 18% pullback in Bitcoin over the weekend, following its rise to multi-year highs, was attributed to profit-taking, including from derivatives, after ETF news. This conclusion was reached by Glassnode. 2024 has opened with a roller-coaster ride for #Bitcoin, as ten new spot ETFs begin trading in US markets. The event was historic and chaotic, […]

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ForkLog 12 16.01.2024

Bitcoin Correction Attributed to ETF Approval Sell-off, Say Analysts

Cumulative Volume Delta (CVD) of digital gold on leading platforms turned negative following news of spot Bitcoin ETF approval, according to Kaiko. Analysts pointed to a “sell the news” scenario. They noted that an hour before the US market opened, net purchases on Binance reached nearly 3000 BTC, but the buyers’ advantage was short-lived. Positive […]

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ForkLog 11 15.01.2024

Crypto Fund Investments Near Record High Amid ETF Launch

Inflows into cryptocurrency investment products from January 6 to 12 rose to $1.19 billion, approaching the historical peak of $1.5 billion during the launch of futures ETFs in October 2021, according to a report by CoinShares. Data: CoinShares. Trading volumes reached an all-time high of $17.5 billion. For comparison, in 2022, the average figure was […]

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ForkLog 17 15.01.2024

Bitcoin Faces Potential Correction to $38,000, Analysts Warn

The divergence between Bitcoin’s price and the RSI indicator may signal risks of further decline towards the dynamic support at $38,000, according to 10x Research, as reported by CoinDesk. Following the approval of spot Bitcoin ETFs, prices fell by 5% to $42,600, confirming the classic “sell the news” phenomenon, experts noted. This was preceded by […]

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ForkLog 11 10.01.2024

Bitcoin ETF Approval Diminishes Likelihood of Sell-Offs, Say Experts

Following a wave of long position liquidations, the anticipated sell-off after the expected approval of spot Bitcoin ETFs by the SEC is now less certain. Analysts at K33 Research have reached this conclusion. They believe the cascade of forced long closures has “sharply improved market conditions.” According to their observations, from January 2 to 6, […]

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ForkLog 18 08.01.2024

Bitcoin Faces Correction Risks Ahead of Halving, Experts Warn

In March, a sell-off in Bitcoin may occur ahead of the halving. This conclusion was reached by analysts at Matrixport. According to the experts’ calculations, the average return of digital gold in years when miner rewards are halved (2012, 2016, and 2020) is 17%. This supports their target of $50,000 for January 2024: $42,265 on […]

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