On-Chain Analysis | ForkLog

ForkLog 7 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 18 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 14 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 18 19.06.2024

Glassnode: Bitcoin Awaits Decisive Price Movement to Break Stalemate

Bitcoin has entered a range-bound trading phase, sustained by sufficient demand to absorb partial coin distribution by hodlers. A decisive price movement in either direction is needed to invigorate the market, according to Glassnode. Despite choppy price action, the unrealized profit of #Bitcoin investors remains constructive. However, volumes across all market facets are declining markedly […]

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ForkLog 16 19.06.2024

“A whale that slept for 100 years transferred all the world’s bitcoins to FTX”: a critical look at on-chain analytics

The rise of crypto has spawned entire business lines and disciplines. One of the most popular is on-chain data analytics. This field uses information about the behaviour of users and investors to anticipate price moves. Such analysis is built on, or incorporates, data taken from blockchains. Despite its convenience for professional traders and casual users […]

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ForkLog 23 17.06.2024

On-Chain Data Reveals Only 25% of ADA Holders Are Profitable

Cardano’s native token has declined nearly 10% over the past week, reaching $0.4. At this price, only 25% of holders are in profit, according to data from IntoTheBlock. ADA token metrics. Data: IntoTheBlock. 28% of the total ADA supply is held by large investors. The coin exhibits a moderate level of whale control, which could […]

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ForkLog 38 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 16 05.06.2024

Renewed Interest in Bitcoin Purchases Observed by Analysts

After two months of sideways movement, digital gold has shown initial signs of a return to speculative activity, with potential for increased volatility. This conclusion was reached by Glassnode. Experts noted the sharp market reaction following reports of the movement of Mt.Gox BTC worth $9.8 billion. This could significantly impact several on-chain metrics. Adjusting for […]

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ForkLog 10 04.06.2024

Crypto Holders Retain Bitcoin Amid $70,000 Surge

Following Bitcoin’s price touching $70,000, more than half of the coins remain inactive, indicating long-term confidence in the asset. This conclusion was reached by CryptoQuant, reports CoinDesk. The lack of on-chain movements of such a high proportion of supply may suggest further price increases, experts added. In other words, the sentiment remains “stubbornly bullish.” “Despite […]

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ForkLog 7 03.06.2024

Ethereum Withdrawals Surge Following ETF Approval

Between May 23 and June 2, the total exchange balance of Ethereum decreased by 797,000 ETH ($3 billion), according to data from CryptoQuant. This indicates a reduction in the number of coins available for sale, as investors transfer assets to non-custodial wallets. On May 23, the U.S. Securities and Exchange Commission began discussing the S-1 […]

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ForkLog 9 16.05.2024

Speculators’ Impact on Bitcoin’s Trend Reversal Unveiled by Experts

On-chain metrics — MVRV, SOPR, and realised losses — show a strong correlation with the formation of local lows in a bull market. This was demonstrated by Glassnode. According to analysts, a group of short-term investors is the dominant group realising losses. They decided to support this empirical observation by identifying periods of seller exhaustion […]

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ForkLog 12 14.05.2024

Glassnode Advises Caution Amid Potential Bitcoin Sell-Off

On-chain indicators suggest that Bitcoin is experiencing a phase of consolidation and potential correction. Market participants should exercise caution, warned Glassnode. Experts proposed a system of metrics to track market trends and shifts: On-chain activity: an increase in these metrics usually correlates positively with price growth. Profitability: a trend of rising unrealized profits indicates periods […]

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#On-Chain Analysis