A new metric from on-chain data analysts Glassnode looks at the relative size of entities actively accumulating or distributing coins in terms of their Bitcoin holdings. In short, the “Accumulation Trend Score” measures whale activity. The current Accumulation Trend Score shows whales are activity distributing tokens, suggesting a low probability of reversing the recent price…
This year has not been favorable to the price actions of neither bitcoin (BTC) nor ether (ETH), the two major cryptocurrencies by market cap. Bitcoin started out this year trading at $47,370 but has since then fallen to $38,945 at press time. Looking at ether, the story is the same, or even worse as the…
The Goldman Sachs Group is reportedly looking into expanding its crypto-related services by offering clients bilateral crypto options, according to people familiar with the matter. Under the bilateral options, clients that hold crypto-like hedge funds or bitcoin miners — will be able to customize their trades to hedge risks or boost yields. Goldman’s global head…
While some crypto analysts believe that Russia could evade the economic sanctions imposed on it through the use of crypto, new data from Chainalysis suggests otherwise. Russia’s crypto transaction volume drops According to the data, crypto transactions volume across exchanges based in Russia has plunged by 50% within the past week. The firm says that…
All eyes are on the war in Ukraine, including those of crypto traders, and for obvious reasons, of course. Crypto’s volatility over the past week has been expected while many are trying to figure out how to adjust to the geopolitical situation. It’s safe to assume that some of the buying pressure is coming from…
Some Russian users trying to deposit fiat or purchase digital assets on crypto exchange Binance stumbled upon a warning message today, informing them that local bank cards are currently not supported. “Please be informed. We currently do not support the bank cards issued in your country,” said the message. On the bright side, the exchange…
While the crypto market remains highly volatile amid the ongoing armed conflict between Russia and Ukraine, Terra (LUNA) swiftly moved against the crowd and surged by more than 70% over the past seven days. At press time, LUNA was trading at $85.83, up 15.3% on the day, according to CryptoSlate data. On the weekly chart,…
If nothing extraordinary happens, the Federal Reserve will raise interest rates and implement “quantitative tightening”, that is to withdraw liquidity from the market, in its fight against the high inflation rate. The question is if Fed’s measures will be enough to push back inflation to normal levels? According to a blogpost from analysts Bitmex Research,…
With bitcoin trading mostly sideways during the weekend, without any major movement, the top cryptocurrency by market cap still fell under the important $40,000 mark. According to analysts’ data, short-term holders continue to be the main driver of bitcoin’s (BTC) volatility. The market price of bitcoin stayed around $44,000 during most of last week, printing…
Bitcoin returned above $40,000 on February 4 after a near 6% drop a couple of days before, and BTC is trading up 8.3% on the week. The market has turned bullish, however, the Bitcoin Fear and Greed Index is still pointing to extreme fear. Bitcoin’s selling pressure seems to have diminished as the premier cryptocurrency…