Glassnode Report Says Bitcoin’s 2022 Price Drop Represents a Bear Market of ‘Historic Proportions’ – Bitcoin News

The crypto economy has slipped under the $1 trillion mark to the $970 billion range, as a large number of digital currencies have lost more than half their USD worth since November 2021. Bitcoin is down 70% from the all-time high last year, and a new report from Glassnode Insights calls the current bear market … Read more

Bitcoin’s short-term price prospects slightly improved, but most traders are far from optimistic

A mild sense of hope emerged among Bitcoin (BTC) investors after the June 18 drop to $17,600 becomes more distant and an early ascending pattern points toward $21,000 in the short-term. Bitcoin 12-hour USD price at FTX. Source: TradingView Recent negative remarks from lawmakers continued to curb investor optimism. In an interview with Cointelegraph, Swiss … Read more

Report: $4B in Bitcoin Mining Loans Are in Distress — JPMorgan Analyst Says Price Pressure Stems From Miner Sales – Bitcoin News

Cryptocurrency-related lending has become a black smudge for the industry these days and according to a recent report, bitcoin’s low price has put billions in mining loans under stress. The report, which quotes the co-founder of mining company Luxor Technologies, Ethan Vera, says that roughly $4 billion in loans backed by crypto mining rigs are … Read more

2022 bear market has been the worst on record — Glassnode

Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin traders are underwater and continue to sell at a loss, according to Glassnode. Blockchain analysis firm Glassnode’s June 24 report titled A Bear of Historic Proportions outlines how Bitcoin’s current dip below the 200-day moving average (MA), negative deviation … Read more

Longer-term Bitcoin holder losses hit two year lows

Long-term Bitcoin holders are sitting on their largest losses since the March 2020 capitulation and the 2018-2019 bear market but may have to keep waiting for relief. Calculated by measuring the value of coins deposited to exchanges, aggregated realized losses from long-term holders (LTH) of Bitcoin (BTC) exceeded 0.006% of the market capitalization by May … Read more

Bitcoin network transactions and fees surge amid investor de-risking

The number of transactions on the Bitcoin network has spiked over the past week, which blockchain analysis firm Glassnode suggests are ‘urgent’ transactions due to investors de-risking. A sudden influx of 42,800 transactions hit the mempool on Bitcoin (BTC) last week. Glassnode’s chief analyst says these were likely “urgent” transactions due to the high amount … Read more

Bitcoin whales jumping ship as exchange inflows reach 3-month high

The number of Bitcoin whales is rapidly decreasing to levels not seen since earlier this year, possibly due to the three-month high of coin inflows to centralized exchanges (CEXs). Bitcoin (BTC) market tracker Glassnode has issued several bearish indicators for the largest cryptocurrency by market cap, including data suggesting a market exit for whales holding … Read more

Ethereum eyes mini breakout above $3K as Coinbase ETH outflows hit new record

Ethereum’s native token Ether (ETH) is poised for a mini bull run above $3,000 primarily due to a classic bullish reversal pattern on its shorter-timeframe chart, and a huge spike in ETH outflows from Coinbase. ETH price forming falling wedge ETH’s price has been forming a falling wedge pattern since late March 2022, which raises its … Read more

Afraid to buy the dip? Bitcoin options provide a safer way to ‘go long’ from $38K

The last time Bitcoin (BTC) traded above $50,000 was Dec. 27, 2021. Since then, four months have passed, but traders seem somewhat optimistic that inflation has hit the necessary threshold to trigger cryptocurrency adoption. In theory, the 8.5% inflation in the United States means that every five years, the prices increase by 50%. This essentially … Read more