Fun

News Feed - 2023-11-17 08:11:20

William Suberg12 hours agoBitcoin bull market FOMO absent as BTC price nears key $39K profit zone“We’re still early,” an analyst says as Bitcoin profitability dynamics reveal a shift in BTC supply profitability on the horizon.9007 Total views42 Total sharesListen to article 0:00Markets NewsJoin us on social networksBitcoin (BTC) bull market “FOMO” has yet to appear despite BTC price being up 120% this year.


Data from the statistics platform Look Into Bitcoin shows that on-chain transactions are only starting to involve “younger” Bitcoin.Bitcoin bull market analysis: “We’re still early”


Bitcoin remains near 18-month highs and well beyond its bear market trading range and several key resistance levels.


While the number of smaller wallets is increasing, there has not been a major return to the network from speculators — those holding BTC for short periods of time.


In an X (formerly Twitter) post on Nov. 16, Look Into Bitcoin creator Philip Swift flagged the realized cap HODL waves metric, also known as RHODL waves, as proof.


RHODL splits the existing HODL waves metric, which divides BTC by age group of the supply and compares it to the price at which it last moved on-chain.


The result is a spike in coins, which frequently move during bull market phases, and the opposite in bear markets, where investors are afraid to sell or are in the red on their holdings.


“Warmer colour low timeframe waves are only just starting to increase as coins are transferred on-chain,” Swift commented on the current state of RHODL.“No FOMO yet. We’re still early.”Bitcoin RHODL waves chart. Source: Look Into BitcoinBitcoin profitability nears “potential breakeven point”


Continuing the examination of Bitcoin supply “age bands,” Onchained, a contributor to on-chain analytics platform CryptoQuant, stressed that those who increased BTC exposure in the run-up to the 2021 all-time highs remain underwater.


Related: Bitcoin institutional inflows top $1B in 2023 amid BTC supply squeeze


He did so using the net unrealized profit/loss (NUPL) indicator, which offers profitability ratios for cohorts of stored coins.


Coming soon, however, is a key line in the sand for bull market hodlers.


“Considering NUPL across different age bands provides insights into profitability dynamics. Notably, the depicted graph reveals all UTXO age bands currently in a profitable state, except for holders with bitcoins held for 18 months to 3 years,” Onchained wrote in one of CryptoQuant’s Quicktake market updates on Nov. 16.“This aligns with their entry during the Bitcoin price rally to $67,000. Their NUPL nearing the profitability benchmark of 0 suggests a potential break-even point if Bitcoin continues its rally beyond $39,000.”Bitcoin UTXOs in loss % chart. Source: CryptoQuant


CryptoQuant data shows that the overall proportion of unspent transaction outputs, or UTXOs, currently at a loss is just 11.6%.


As Cointelegraph reported, whale entities have been increasing BTC selling at current prices.


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Bitcoin Price# MarketsAdd reactionAdd reactionRead moreHistory tells us we’re in for a strong bull market with a hard landingExpect some crypto companies to fail in the wake of Bitcoin"s halving3 reasons why Bitcoin price failed to break $37K

News Feed

Spot Bitcoin ETFs Go ‘Pac-Man’ Mode, Gobble Up $1.2 Billion In 1 Week
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Solana sandwich bot makes $30M from MEV arbitrage in 2 months
Brayden Lindrea7 hours agoSolana sandwich bot makes $30M from MEV arbitrage in 2 monthsMRGN Research’s Ben Coverston says the Solana-based MEV bot has made an active effort to date to keep a low profile.4081 Total view
NFT-based Fixed Lending Protocol Pledge Backed by Stanford Alumni Announces Successful Fundraise
NFT-based Fixed Lending Protocol Pledge Backed by Stanford Alumni Announces Successful Fundraise press release PRESS RELEASE. Pledge Finance is launching a cross-chain decentralized
Bitcoin mining difficulty reaches new historical high as halving looms
Tristan Greene5 hours agoBitcoin mining difficulty reaches new historical high as halving loomsAmid new all-time highs in price and block rewards, the Bitcoin bull run of 2023–2024 continues.5068 Total views9 Total sha
$700 Million Worth of Synthetic Bitcoin Is Circulating on the Ethereum Blockchain
$700 Million Worth of Synthetic Bitcoin Is Circulating on the Ethereum BlockchainAccording to onchain data, there’s now 69,836 synthetic bitcoin tokens (over $700 million) cir
David Attlee3 hours agoFTX has a plan, but creditors are not impressed: Law DecodedA body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan.1362 Total views3 Total
CoinShares acquires Valkyrie’s ETF business
Zoltan Vardai11 hours agoCoinShares acquires Valkyrie’s ETF businessCoinShares’ global assets under management increased to approximately $7.3 billion following the acquisition.2162 Total views8 Total sharesListen to
Purging Today’s Freedom Activists: Why Big Tech’s Censorship Isn’t Directed Solely at Trump Supporters
Purging Today’s Freedom Activists: Why Big Tech’s Censorship Isn"t Directed Solely at Trump Supporters There’s been a lot of unrest in the U.S. and jus
Dapper Labs and Blockparty Join Forces to Bring A New Breadth of Digital Collectibles onto Flow
Dapper Labs and Blockparty Join Forces to Bring A New Breadth of Digital Collectibles onto FlowVANCOUVER / SEPTEMBER 25, 2020 —Blockparty—the New York-based rare digital
Arizona primary involving crypto Super PAC’s $1.3M is a squeaker
Turner Wright5 hours agoArizona primary involving crypto Super PAC’s $1.3M is a squeakerThe primary between two Democrats in Arizona’s 3rd Congressional District will likely go to a recount, with money from crypto in
Portuguese Authorities Contemplate Launching an Investigation on Local Crypto Social Media Influencers
Portuguese Authorities Contemplate Launching an Investigation on Local Crypto Social Media Influencers Portuguese authorities are reportedly planning to take act
Bitcoin price ATH in memes: ‘Same same, but different’
Helen Partz7 hours agoBitcoin price ATH in memes: ‘Same same, but different’Explore a collection of Bitcoin memes marking its latest all-time high (ATH) of $70,199.2056 Total views6 Total sharesListen to article 0:00