On-Chain Analysis | ForkLog

ForkLog 10 15.07.2024

Bitcoin’s Ascent Predicted Amid Federal Reserve’s Influence

Experts noted traders shifting focus from Mt.Gox and German government sales to the incident involving US presidential candidate Donald Trump and macroeconomic statistics. On-chain analysts observed bitcoin whales accumulating coins. With the conclusion of sales by German authorities and the Mt.Gox factor largely priced in, bitcoin is poised to reclaim lost ground in the coming […]

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ForkLog 26 11.07.2024

Cross purposes: which on‑chain indicators work—and which do not

On-chain analysis is what sets the cryptocurrency market apart from traditional finance, which does not allow vast, shifting datasets to be tracked in real time. A range of indicators offers structured blockchain data presented as charts. It can feel like a qualitatively new kind of analytics. But is it really? Oleg Cash Coin shares his […]

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ForkLog 7 10.07.2024

Majority of Speculators Face Profit Losses, Experts Report

Bitcoin’s plunge into its deepest correction since the end of 2022, falling below the 200 DMA, has resulted in unrealized losses for a significant portion of short-term investors, according to Glassnode. Following several months of sideways price action, #Bitcoin has experienced its deepest correction since late 2022, trading below the 200DMA, and putting a significant […]

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ForkLog 10 04.07.2024

Bitcoin’s Potential Drop to $50,000 Raises Concerns

A “double top” reversal pattern is forming on the Bitcoin chart. Miners, ETF buyers, and hodlers are selling, with a reversal possible if stablecoin supply increases. Investors continue to bet on ETH-ETF approval by purchasing call options for September-December. A sharp decline in Bitcoin may not stop at $57,000 and could push the price down […]

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ForkLog 21 03.07.2024

Arkham Assesses Justin Sun’s Cryptocurrency Holdings

The digital assets owned by Tron founder Justin Sun have been valued at $1.04 billion, according to data from Arkham Intelligence. Justin Sun is well known in crypto as an entrepreneur, angel investor, and TRON Founder. Our research team wrote an article analyzing Sun’s on-chain holdings across both Ethereum and Tron, in his wallets tagged […]

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ForkLog 9 03.07.2024

Key Levels That Could Revive Bitcoin’s Momentum

A decisive breakthrough of Bitcoin above $64,000 would return a significant volume of coins held by short-term investors to profitability, potentially reigniting its growth trajectory. This conclusion was reached by Glassnode. Analysts have warned of the potential for a strong directional price movement amid historically strong volatility compression. From the perspective of the MVRV ratio, […]

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ForkLog 5 01.07.2024

Bitcoin Faces Resistance at $65,000, Say Experts

The resistance level for Bitcoin’s current rebound could be $65,000. July is typically a strong month for digital gold, but the Mt.Gox factor may be more significant. Upcoming US presidential elections and macroeconomic data could steer the leading cryptocurrency back onto a growth trajectory. To continue its rebound from June lows, Bitcoin must surpass the […]

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ForkLog 8 28.06.2024

CryptoQuant Observes Reduced Selling Pressure from Bitcoin Miners

The supply overhang of bitcoins from miners has significantly decreased, according to data from CryptoQuant. Experts noted that this group of market participants has recently contributed to the decline in prices. The driver was the halving that took place in April, which rendered older mining devices economically inefficient. This change forced owners to sell off […]

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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 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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ForkLog 12 20.06.2024

QCP Capital: Options Market Bets on Ethereum’s Rise to $4800

Despite uncertainties surrounding the approval timeline for an ETH-ETF, a demand capturing 10-20% of inflows into BTC-ETF could push Ethereum’s price past $4000, with a subsequent rise to $4800. This scenario is reflected in the options market, according to QCP Capital. QCP: Despite uncertainty around the reception of the ETH ETF, capturing 10-20% of Bitcoin […]

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ForkLog 13 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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