Despite Bitcoin (BTC) crashing below $30,000 for the first time in one month, on-chain metrics suggest whales may be steadily accumulating BTC.According to Glassnode’s Monday “The Week On-Chain” report, the Bitcoin reserves of centralized exchanges have continued to evaporate despite the recently sustained bearish momentum, with an average of 36,000 Bitcoin (worth roughly $1 … [Read more...] about Bitcoin crashes below $30K, but on-chain data suggests accumulation is brewing
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Crypto joins stocks in ‘extreme fear’ after Bitcoin loses $30K support
Bitcoin (BTC) failed to regain $30,000 after losing support on Tuesday as Fear & Greed indexes raced each other to the bottom. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC’s price stays below $30,000 waterlineData from Cointelegraph Markets Pro and TradingView showed BTC/USD continued trading in the $20,000–$30,000 zone on Tuesday.The largest … [Read more...] about Crypto joins stocks in ‘extreme fear’ after Bitcoin loses $30K support
Stock-to-flow model possibly invalidated as Bitcoin price loses $30K
As the price of Bitcoin (BTC) continues to struggle around the $30,000 mark, the widely accepted stock-to-flow (S2F) model to price Bitcoin, coined by Twitter user and unnamed Dutch investor, Plan B, is now the farthest from its estimates. The model was popularized by the Twitter pseudonym more than two years ago in March 2019 and in the midst of a minor bull through Q1 2019. … [Read more...] about Stock-to-flow model possibly invalidated as Bitcoin price loses $30K
Bitcoin’s Address Growth Plateaus as BTC loses $30k Support
The growth of Bitcoin addresses has hit a plateau phase Bitcoin’s daily active addresses have also dropped from April’s peak of 1.366 million There are currently 845k daily active Bitcoin addresses, a drop by 38% from the aforementioned peak Bitcoin has lost the crucial $30k support to post a local low of $29,278 A loss of the $28k support will open the door to more losses to … [Read more...] about Bitcoin’s Address Growth Plateaus as BTC loses $30k Support
Bitcoin sees second-longest bull market drawdown with BTC price ‘stuck’ at $30K
It's now three months since the last Bitcoin (BTC) all-time high, but one measure suggests that holders may be waiting even longer for the next.In a series of tweets on July 17, analytics service Ecoinometrics revealed that this year's descent from all-time highs is the second-longest in Bitcoin bull market history.$30,000 may stay "for a while"It's been 95 days since BTC/USD … [Read more...] about Bitcoin sees second-longest bull market drawdown with BTC price ‘stuck’ at $30K