Forwarded from Glassnode
#Bitcoin and #Ethereum markets opened the new year...by staying asleep.
Realized volatility for the two major assets fell to extreme lows, which has historically preceded explosive moves in either direction
More in our first Week On-chain edition of 2023.
Realized volatility for the two major assets fell to extreme lows, which has historically preceded explosive moves in either direction
More in our first Week On-chain edition of 2023.
Daily Market Brief - 09.01.2023
Total market cap / 24h chg: $848,750,278,057
BTC Dominance / 24h chg: 39.00%
On Monday morning in Asia, Bitcoin and Ether saw an increase in trading, along with the other top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and BNB experiencing the most significant changes. Many cryptocurrencies have been gaining in value over the past few days following a rally on Wall Street triggered by the release of the latest US jobs data last Friday. Bitcoin is up 1.45% to $17'199 in the 24 hours, breaking the $17'000 level for the first time since December, representing a 2.9% increase over the week. Ether saw a 3.6% increase to $1'309.
Total market cap / 24h chg: $848,750,278,057
BTC Dominance / 24h chg: 39.00%
On Monday morning in Asia, Bitcoin and Ether saw an increase in trading, along with the other top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and BNB experiencing the most significant changes. Many cryptocurrencies have been gaining in value over the past few days following a rally on Wall Street triggered by the release of the latest US jobs data last Friday. Bitcoin is up 1.45% to $17'199 in the 24 hours, breaking the $17'000 level for the first time since December, representing a 2.9% increase over the week. Ether saw a 3.6% increase to $1'309.
News
SBF fights for Robinhood shares - says he needs them more than FTX customers who only suffer 'possibility of economic loss': Disgraced FTX founder Sam Bankman-Fried (SBF) is attempting to regain access to his Robinhood shares, worth over $460 million. The former CEO of the collapsed crypto exchange claimed that he needs them to “pay for his criminal defense,” stressing that without them the consequences would be serious and “irreparable.” FTX customers, on the other hand, “face only the possibility of economic loss,” SBF’s court filing states.
Man pleads guilty to stealing Bitcoin 'seized' by US government: An Ohio man has pleaded guilty to stealing over 712 bitcoin that was “seized” by the U.S. government in another criminal case. He has agreed to forfeit some bitcoin, ether, and dogecoin as part of his plea. “Due to the increase in market prices, the total value of these forfeitable properties exceeds $12 million,” said the U.S. Department of Justice (DOJ).
Mastercard taps Polygon to empower emerging artists in Web3 tech: Mastercard, the payments giant, has partnered with Polygon, an Ethereum scaling platform, to introduce emerging artists into Web3 technology. Mastercard’s artist accelerator, as the program is called, will teach five different emerging artists, including singers, musicians, DJs, and producers, to use blockchain tools to grow their brand and fan engagement.
SBF fights for Robinhood shares - says he needs them more than FTX customers who only suffer 'possibility of economic loss': Disgraced FTX founder Sam Bankman-Fried (SBF) is attempting to regain access to his Robinhood shares, worth over $460 million. The former CEO of the collapsed crypto exchange claimed that he needs them to “pay for his criminal defense,” stressing that without them the consequences would be serious and “irreparable.” FTX customers, on the other hand, “face only the possibility of economic loss,” SBF’s court filing states.
Man pleads guilty to stealing Bitcoin 'seized' by US government: An Ohio man has pleaded guilty to stealing over 712 bitcoin that was “seized” by the U.S. government in another criminal case. He has agreed to forfeit some bitcoin, ether, and dogecoin as part of his plea. “Due to the increase in market prices, the total value of these forfeitable properties exceeds $12 million,” said the U.S. Department of Justice (DOJ).
Mastercard taps Polygon to empower emerging artists in Web3 tech: Mastercard, the payments giant, has partnered with Polygon, an Ethereum scaling platform, to introduce emerging artists into Web3 technology. Mastercard’s artist accelerator, as the program is called, will teach five different emerging artists, including singers, musicians, DJs, and producers, to use blockchain tools to grow their brand and fan engagement.
N.B.: All the data is coming from CoinMarketCap.com. Our Top gainers / Top losers displays the 5 best & worst performers among the Top 100.
Disclaimer: The information and opinions in this article were prepared by Taurus SA (“Taurus”). Taurus SA or the writer of this article has a significant financial interest in some digital assets such as Ether, Bitcoin, or Tezos. Taurus does not provide individually tailored investment advice. Taurus Research has been prepared without regard to the circumstances and objectives of those who receive it. Taurus recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. The appropriateness of an investment or strategy will depend on an investor's circumstances and objectives. The securities, instruments, or strategies discussed in Taurus Research may not be suitable for all investors, and certain investors may not be eligible to purchase or participate in some or all of them. This paper is not an offer to buy or sell or the solicitation of an offer to buy or sell any digital assets or to participate in any particular trading strategy. The value of digital assets may vary a lot because of changes in interest rates, foreign exchange rates, default rates, prepayment rates, securities/instruments prices, market indexes, operational or financial conditions of companies or other factors. Past performance is not necessarily a guide to future performance. Estimates of future performance are based on assumptions that may not be realized. If provided, and unless otherwise stated, the closing price on the cover page is that of the primary exchange for the subject company's securities/instruments. Taurus Research is based on public information. Taurus makes every effort to use reliable, comprehensive information, but we make no representation that it is accurate or complete. We have no obligation to tell you when opinions or information in our research change apart from when we intend to discontinue equity research coverage of a subject company. Taurus may make investment decisions that are inconsistent with the recommendations or views in this report.
👉 Source: taurushq.com
Disclaimer: The information and opinions in this article were prepared by Taurus SA (“Taurus”). Taurus SA or the writer of this article has a significant financial interest in some digital assets such as Ether, Bitcoin, or Tezos. Taurus does not provide individually tailored investment advice. Taurus Research has been prepared without regard to the circumstances and objectives of those who receive it. Taurus recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. The appropriateness of an investment or strategy will depend on an investor's circumstances and objectives. The securities, instruments, or strategies discussed in Taurus Research may not be suitable for all investors, and certain investors may not be eligible to purchase or participate in some or all of them. This paper is not an offer to buy or sell or the solicitation of an offer to buy or sell any digital assets or to participate in any particular trading strategy. The value of digital assets may vary a lot because of changes in interest rates, foreign exchange rates, default rates, prepayment rates, securities/instruments prices, market indexes, operational or financial conditions of companies or other factors. Past performance is not necessarily a guide to future performance. Estimates of future performance are based on assumptions that may not be realized. If provided, and unless otherwise stated, the closing price on the cover page is that of the primary exchange for the subject company's securities/instruments. Taurus Research is based on public information. Taurus makes every effort to use reliable, comprehensive information, but we make no representation that it is accurate or complete. We have no obligation to tell you when opinions or information in our research change apart from when we intend to discontinue equity research coverage of a subject company. Taurus may make investment decisions that are inconsistent with the recommendations or views in this report.
👉 Source: taurushq.com
Forwarded from Glassnode
As #Bitcoin rallies to $18.2k, over 13% of the Circulating Supply has returned to profit.
The observed sharp move upwards in this metric helps to confirm that a large volume of $BTC was acquired between $16.5k and $18.2k.
Live Chart
The observed sharp move upwards in this metric helps to confirm that a large volume of $BTC was acquired between $16.5k and $18.2k.
Live Chart
Forwarded from Glassnode
#Bitcoin markets display a fascinating and bizarre level of consistency between cycles.
In the 2018-29 bear, $BTC traded below the 200DMA 🔵 for 386-days.
With last weeks rally, $BTC is back above the 200DMA, having spent 381-days trading below it.
📊Live Chart
In the 2018-29 bear, $BTC traded below the 200DMA 🔵 for 386-days.
With last weeks rally, $BTC is back above the 200DMA, having spent 381-days trading below it.
📊Live Chart
🔮 Digital asset management company Bitwise Asset Management has released an article with predictions for 2023, the main talking points:
- Decentralized exchange Uniswap will surpass Coinbase in trading volume
- Stablecoin USDC's market capitalization will exceed USDT's market capitalization
- Ethereum will become more deflationary and the number of coins in the stack will increase after the "Shanghai" update
- The market may have a long sideways slide before a real bullish trend starts
- Cryptocurrencies will get real fast and with cheap commissions
- Crypto's correlation with stock markets will fall sharply, (below 0.5, possibly to 0.25)
- In 2023, the U.S. Congress will pass at least one important cryptocurrency law.
👉 https://bitwiseinvestments.com/crypto-market-insights/the-bitwise-investor-letter-january-2023
--
Source: https://t.me/DeCenter/11612
- Decentralized exchange Uniswap will surpass Coinbase in trading volume
- Stablecoin USDC's market capitalization will exceed USDT's market capitalization
- Ethereum will become more deflationary and the number of coins in the stack will increase after the "Shanghai" update
- The market may have a long sideways slide before a real bullish trend starts
- Cryptocurrencies will get real fast and with cheap commissions
- Crypto's correlation with stock markets will fall sharply, (below 0.5, possibly to 0.25)
- In 2023, the U.S. Congress will pass at least one important cryptocurrency law.
👉 https://bitwiseinvestments.com/crypto-market-insights/the-bitwise-investor-letter-january-2023
--
Source: https://t.me/DeCenter/11612
Forwarded from Crypto Trades
Have a look at Open Interest Data
Open Interest (OI) gives us information about where people have open positions.
The market wants to have as many open positions as possible, to bring liquidity, so they will visit (& consolidate) in areas with OI gaps to trigger retail orders
So Play Safe. This is not time to Fomo in Btc and large Caps
@CryptoTrades
Open Interest (OI) gives us information about where people have open positions.
The market wants to have as many open positions as possible, to bring liquidity, so they will visit (& consolidate) in areas with OI gaps to trigger retail orders
So Play Safe. This is not time to Fomo in Btc and large Caps
@CryptoTrades
🔥 The Binance Exchange burned 2,064,484 BNB worth $618 million in 22 quarterly coin burns - that's 1.3% of the total issue.
👉 https://explorer.bnbchain.org/tx/34167E903B9F662A64817266D8A6CE4FE096868DAD0B883E4F838331E280EEFF
--
Source: https://t.me/DeCenter/11623
👉 https://explorer.bnbchain.org/tx/34167E903B9F662A64817266D8A6CE4FE096868DAD0B883E4F838331E280EEFF
--
Source: https://t.me/DeCenter/11623
Forwarded from Glassnode
After one of the least volatile months in history, #Bitcoin has seen an explosive rally back above $21k.
In our latest piece, we analyse the rally and the key pricing and valuation models $BTC has broken above.
Read more in The Week On-chain
In our latest piece, we analyse the rally and the key pricing and valuation models $BTC has broken above.
Read more in The Week On-chain
Forwarded from Glassnode
For the first time since June, #Bitcoin has seen a greater volume of Profits realized on-chain than losses.
During bear cycles, this tends to act as a psychological level where investors sell at, or near break-even, creating resistance.
A convincing break above 1.0 for Realized P/L Ratio, or aSOPR has historically signalled a cycle regime shift is underway.
A successful retest and bounce of aSOPR from 1.0 is often observed near cycle turning points.
Read our Full Analysis in The Week On-chain
During bear cycles, this tends to act as a psychological level where investors sell at, or near break-even, creating resistance.
A convincing break above 1.0 for Realized P/L Ratio, or aSOPR has historically signalled a cycle regime shift is underway.
A successful retest and bounce of aSOPR from 1.0 is often observed near cycle turning points.
Read our Full Analysis in The Week On-chain
Forwarded from Glassnode
The total $WBTC Balance wrapped on #Ethereum has declined by over 35% since the collapse of the LUNA/UST project
At the peak, there were 285k #Bitcoin wrapped on #Ethereum, and this has since fallen by 101.55k $WBTC over the course of 2022
📊 Live Chart
At the peak, there were 285k #Bitcoin wrapped on #Ethereum, and this has since fallen by 101.55k $WBTC over the course of 2022
📊 Live Chart
Daily Market Brief - 23.01.2023
Market glance
Total market cap / 24h chg: $957,832,434,633 / -1.87% 🟥
BTC Dominance / 24h chg: 41.90% / +1.21% 🟩
Bitcoin has reached a 5-month high of $23,000 on Jan 21, but traders are still skeptical of the rally as they suspect it could be a short-term spike. Traders also noted that the rally was driven by Asia buyers, with sell-side pressure from market makers being absorbed on exchanges, and on-chain analytics also flagged that ask liquidity was removed on Binance prior to the rally. Despite this, Bitcoin is still approaching its 200-week moving average, currently at $24,650, which it has not reached since mid-August 2022.
Market glance
Total market cap / 24h chg: $957,832,434,633 / -1.87% 🟥
BTC Dominance / 24h chg: 41.90% / +1.21% 🟩
Bitcoin has reached a 5-month high of $23,000 on Jan 21, but traders are still skeptical of the rally as they suspect it could be a short-term spike. Traders also noted that the rally was driven by Asia buyers, with sell-side pressure from market makers being absorbed on exchanges, and on-chain analytics also flagged that ask liquidity was removed on Binance prior to the rally. Despite this, Bitcoin is still approaching its 200-week moving average, currently at $24,650, which it has not reached since mid-August 2022.