실시간 카지노 사이트;카지노 사이트;볼트 카지노 Bitcoin & Cryptocurrency News Today Sun, 20 Oct 2024 07:17:18 +0000 en-US hourly 1 //wordpress.org/?v=6.6.2 //shenyangcang.com/wp-content/uploads/2024/05/cropped-favicon-2.png?fit=32%2C32 기타 정보 Archives;바카라 게임- 온라인 카지노 사이트 32 32 221170450 바카라 게임 ;바카라사이트;카지노사이트킴 //shenyangcang.com/news/bitcoin/spot-bitcoin-etfs-draw-over-2-billion-inflows-as-ethereum-etfs-turn-green-again-details/ Sun, 20 Oct 2024 12:00:19 +0000 //shenyangcang.com/?p=648922 Spot Bitcoin ETFs Record Highest Daily Inflow Since June

After a return to positive net flows in the second week of October, the spot Bitcoin ETFs attracted massive levels of investments in the past week which began with $555.86 million worth of inflows recorded on Monday, October 14, representing the highest daily inflows witnessed by these ETFs since June 4. 

According to data from SoSoValue, these Bitcoin ETFs experienced positive investments of similar sizes for the rest of the week culminating in a total inflow of $2.18 billion, which is the fourth-highest weekly net flow registered by these investment funds since their launch in January. 

Of these reported figures, over $1.14 billion was invested in BlackRock’s IBIT, which retains its position as the largest spot Bitcoin ETF with cumulative net inflows of $22.84 billion. Unsurprisingly, Fidelity’s FBTC came a distant second with inflows valued at $318.82 million.  Bitwise’s BITB also attracted investments valued at $149.81 million while Grayscale’s GBTC broke a 21-week streak of outflows, recording its largest weekly inflow of $91.47 million. All other spot Bitcoin ETFs except Hashdex’s DEFI also experienced significant levels of inflows albeit below $50 million.  Presently, the cumulative total net inflows of the spot Bitcoin ETFs stand at $20.98 billion. Meanwhile, these investment funds hold total net assets of $66.11 billion i.e. 4.89% of the Bitcoin market cap. These figures being achieved within ten months of trading demonstrate the enormous potential of these ETFs in driving Bitcoin adoption.

Spot Ethereum ETFs Back To Positive Netflows

In the past week, the spot Ethereum ETFs also recorded positive weekly inflows to the tune of $78.98 million.  While this figure seems significantly small compared to that of the Bitcoin ETFs, it represents the third positive net flow in thirteen weeks of trading. Similar to their Bitcoin counterpart, BlackRock’s ETHA accounted for the majority of the reported figures with a $49.76 million inflow while Fidelity’s FETH emerged second, attracting investments valued at $43.52 million. The spot Ethereum ETFs continue to report a negative cumulative total net outflow of $479.99 million while holding 2.31% of the Ethereum market cap represented in $7.35 billion ETH. At the time of writing, Ethereum trades at $2,649 with a 0.49% gain on the past day. Meanwhile, Bitcoin is valued at $68,168 following a minor decline in the last 24 hours. Spot Bitcoin ETFs ]]>
648922
솔카지노 【보증업체】 가입코드 이벤트 쿠폰;온라인바카라 //shenyangcang.com/news/ethereum/ethereum-derivative-market-sees-over-50000-eth-inflow-price-fall-imminent/ Sat, 19 Oct 2024 17:00:47 +0000 //shenyangcang.com/?p=648817 50,000 ETH Flow Into Derivative Exchange – Price To Rise Or Fall?

In a Quicktake post on CryptoQuant, an analyst with username Amr Taha reported there has been a positive net flow of over 50,000 ETH valued at $132.12 million on derivative exchanges. In this context, net flow measures the difference between the amount of ETH deposited and the amount of ETH withdrawn from derivative exchanges, which are standard trading platforms for products such as options and futures contracts.

Therefore, a positive net flow indicates a higher amount of ETH has been deposited than withdrawn on the last day. Analyzing the implications of this development on Ethereum’s price, Amr Taha has postulated two situations.  Ethereum

First, the analyst states that a positive net flow to derivative exchanges could indicate a potential rise in selling pressure as traders may be looking to offload their ETH either by opening a short position or selling through a futures contract at a predetermined price. Alternatively, a positive net flow may indicate that traders are depositing ETH to use as collateral for margin or future contracts betting that the price of ETH will rise, thus expressing confidence in the token’s profitability. 

Essentially, this massive positive ETH net flow holds significant potential to swing Ethereum’s price either way based on traders’ actions.

Ethereum Prepares For Encounter With Crucial Resistance

In other news, Ethereum continues to trade at $2,636 reflecting gains of 1.11% and 12.89% in the last one and 30 days respectively. Meanwhile, the token’s daily trading volume is up by 12.89% and is valued at $17.06 billion. 

However, despite these positive metrics, data from CoinMarketCap shows that market sentiment towards the altcoin is largely bearish as investors perhaps anticipate a price retracement following the ETH’s recent gain in the last week. Interestingly, the Ethereum daily chart shows the token is approaching a key resistance level at $2,700 which has served as a strong rejection zone over the last two months.

Albeit, the relative strength Index is still some significant distance away from the overbought zone indicating Ethereum’s price rally may be far from over and may break past this resistance level. In addition, analysts have observed an ascending triangle pattern on the ETH hourly chart indicating strong bullish potential to surge past $2,700 reaching as high as $2,870 in the coming days.

Ethereum ]]>
648817
벳16 보증 토토사이트 추천;바카라 게임- 온라인 카지노 //shenyangcang.com/news/bitcoin/analyst-backs-spot-bitcoin-etfs-to-surpass-gold-etf/ Sat, 19 Oct 2024 11:00:49 +0000 //shenyangcang.com/?p=648807 Market analyst and President of the ETF Store Nate Geraci has backed the US-based spot Bitcoin ETFs to overtake the Gold ETFs in terms of cumulative net flows. This projection comes amidst a staggering performance by these Bitcoin ETFs in the past few days where they have attracted over $2 billion in weekly netflows.

Spot Bitcoin ETFs To Surpass Gold ETF In 2 Years, Analyst Says

The spot Bitcoin ETFs rattled the global financial markets this week recording net inflows of $2.13 billion according to data from SoSoValue. This massive influx of investments occurred as Bitcoin surged by 9.23%, approaching a critical resistance zone at the $70,000 price mark. 

Amidst this market euphoria, Nate Geraci has predicted the spot Bitcoin ETFs to record a higher cumulative total netflows than the Gold ETFs in the next two years. This forecast is largely unsurprising considering the exponential growth of these Bitcoin ETFs since their launch on January 11. 

For context, the Gold ETFs currently boast of combined net inflows of around $55 billion in comparison to $20.66 billion aggregate net inflows in the spot Bitcoin ETFs market. However, the Bitcoin ETFs have been trading for barely a year compared to the Gold ETFs which have been around for over 20 years. Spot Bitcoin ETFs

Furthermore, Bloomberg analyst Eric Balchunas recently highlighted that spot Bitcoin ETFs have amassed over $65 billion in total net assets, a milestone that took Gold ETFs nearly five years to achieve. This figure is also over 25% of the total assets under management in the global Gold ETF market.

In addition, Geraci’s theory is further strengthened by the few 11 spot Bitcoin ETFs currently trading compared to the almost 5000 Gold ETFs on the global financial market. Therefore, these Bitcoin ETFs may actually be poised to overtake their Gold counterparts, especially considering the upcoming crypto market bull run and current adoption levels of digital assets.

Bitcoin Set For Price Recorrection Amidst Market Surge

In other news, crypto analyst Ali Martinez has shared that Bitcoin may soon experience a “short-term dip�following its recent price rally.  As earlier stated, the crypto market leader gained by over 8% moving from around $63,000 to nearly breaking above $69,000. 

While the BTC market is currently bullish, Martinez states that the TD sequential is currently indicating a sell signal on the 4-hour chart which is strengthened by a bearish divergence on the Relative Strength Index (RSI). If Bitcoin’s price were to decline, investors would turn their attention to the $60,000 price zone at which lies its next support level. Albeit a strong selling pressure may cause the premier cryptocurrency to trade as low as $55,000. At the time of writing, Bitcoin continues to trade at $68,428 with a 0.98% gain in the last day. spot Bitcoin ETFs ]]>
648807
카지노사이트 코인카지노;바카라사이트;카지노사이트킴 //shenyangcang.com/news/bitcoin/spot-bitcoin-etfs-back-to-positive-returns-with-308-million-inflows-details/ Sun, 13 Oct 2024 12:00:33 +0000 //shenyangcang.com/?p=647686 According to data from SoSoValue, the US-based spot Bitcoin ETFs have recorded over $300 million in net inflows over the past week, representing a return to the market’s positive trajectory after a bearish first week in Q4 2024.  Meanwhile, the Spot Ethereum ETFs still retain a negative performance despite a reduction in net outflows.

Spot Bitcoin ETFs Halt Three-Day Decline With $254 Million Inflow

Following the $300 million net outflow recorded in the first week of October, the spot BTC ETF market opened last week on a positive note recording net inflows of $236.19 million on Monday, October 7. However, these investment funds soon experienced a three-day downturn resulting in cumulative outflows of $179.98 between October 8-10. 

On Friday, October 12, these Bitcoin ETFs registered aggregate inflows of $253.54 million, representing the highest daily capital investment over the past two weeks. The majority of these gains came from Fidelity’s FBTC which attracted inflows of $117.10 million. Ark & 21 Shares ARKB also saw inflows of $97.58 million, while Bitwise’s BITB garnered $38.81 million from investors. Meanwhile, VanEck’s HODL and Invesco’s BTCO also recorded significant inflows of $14.26 million and $7.88 million. All other Bitcoin spot ETFs including BlackRock’s IBIT experienced zero inflows, except Grayscale’s GBTC which produced a net outflow of $22.09 million. Following the recent weekly gains, the total net assets of the spot Bitcoin market increased to $58.66 billion, representing 4.71% of the BTC market cap. BlackRock’s IBIT accounts for about 40% of these assets holding 369,640.1 BTC, valued at $23.30 billion. Grayscale’s GBTC initially ranked as the largest Bitcoin spot ETF holding 600,000 BTC tokens. However, massive levels of outflows valued at $20.19 billion allow the fund to sit second with 220,177.5 BTC valued at $13.85 billion. Spot Bitcoin ETF

Spot Ethereum ETFs Maintain Negative Return Streak

In other news, the spot Ethereum ETFs produced another dismal performance in the past week, recording net outflows of $5.22 million. While this value represents a $25.47 million reduction from the figures reported in October’s first week, it marks the 10th week of negative returns in the 12 trading weeks for the Spot Ether ETFs. Interestingly, these funds only recorded a single day of daily inflow ($3.06 million) in the past week.

The total net outflows of spot Ethereum ETFs are currently valued at $558.88 million. Meanwhile, the total value traded in this market stands at $143.54 million. At the time of writing Ethereum trades at $2,459 with a 0.78% gain in the last day, while Bitcoin remains valued at $62,725 following a 0.22% price rise in the same period. Spot Bitcoin ETFs

Featured image from Crypto Valley Journal, chart from Tradingview

]]>
647686
카지노사이트 sm카지노;바카라사이트;카지노사이트킴 //shenyangcang.com/sui/analyst-sets-2-50-target-for-sui-following-30-weekly-gain-details/ Sun, 13 Oct 2024 06:00:34 +0000 //shenyangcang.com/?p=647692 SUI To Record ATH At $2.50, Analyst Says

In an X post on Saturday, market analyst Michaël van de Poppe dropped a new price target for SUI based on its current bullish momentum. According to data from CoinMarketCap, SUI recorded a 30.01% profit in the last seven days, emerging as the second-highest weekly gainer in the crypto market. Amidst this price gain, the digital asset already notched a new all-time high of $2.28. However, Van de Poppe’s forecast projects the altcoin to maintain its current uptrend and attain a new peak between $2.30 – $2.50.

SUI

However, looking at the SUI daily chart, certain indicators present an alternative view. For example, the asset’s price is well above its 100-day simple moving average indicating it is potentially overbought and may be due for a price correction. This position is further backed by the token’s RSI  which is well in the overbought zone.

Generally, SUI is one of the best-performing coins of 2024 with an overall price gain of 182.5% since the start of the year. However, it has been a bipolar market experience for the  layer-1 asset which lost about 71.5% of its value between April and August.  

Current market sentiments around the altcoin are largely bullish with investors confident of long-term profitability. Interestingly, SUI has been tipped by analysts to emerge as the diamond of the upcoming bull season with the potential to replicate Solana’s performance in 2021. If this projection proves true, it could rise as high as $70 over the next 12-18 months.

Open Interest Reaches $664 Million 

In tandem with the recent price growth, the Open Interest on SUI has grown by 27.10% in the last 24 hours reaching around $664.29 million. For context, Open Interest measures the value of all active trading positions either long or short in the market.  Interestingly, the daily long/short ratio currently stands at 1.0665, indicating traders are slightly more confident of SUI experiencing a price gain in the future. 

At the time of writing, SUI trades at $2.22 reflecting a 9.62% gain in the last day. Meanwhile, the token’s daily trading volume is up by 12.55% and is valued at 1.12 billion.  SUI ]]>
647692
헤븐 카지노;뉴 헤븐 카지노;카지노 게임 //shenyangcang.com/news/ethereum/ethereum-mvrv-score-signals-cooling-market-momentum-time-to-buy/ Sat, 12 Oct 2024 19:00:32 +0000 //shenyangcang.com/?p=647567 Ethereum MVRV Far From Critical Bullish Level, Analyst Says 

In an X post on Friday, crypto analyst Burak Kesmeci shared an insight on the cyclical relationship between Ethereum’s price and its Market Value to Realized Value (MVRV) ratio, which he states can be used to identify buy and sell signals. 

According to Kesmeci, the last two bull and bear periods in the ETH market have revealed certain MVRV points i.e. 3.00 and 0.80 as vital to understanding price movement.  The analyst explains that an MVRV value above 3.00 usually results in Ethereum entering an overbought zone, presenting investors with an opportunity to sell in fear of a potential price fall.  Alternatively, historical data have shown ETH to be “relatively cheapâ€?and undervalued when the MVRV value falls below 0.80, representing an opportunity for aggressive purchases by long-term investors.  However, In a more detailed analysis, Kesmeci highlights 2.25 to be a critical MVRV level in a bullish Ethereum market. The analyst states that significant price gains have been recorded whenever ETH moved past this MVRV value in the last two bull cycles. According to Kesmeci, Ethereum’s current MVRV stands at 1.22 following a decrease from 1.95 over the last 120 days. A continuous decline to below 0.80 would present a buy signal as earlier stated. However, investors should only anticipate a “serious rallyâ€?if the MVRV value moves upward and past 2.25.   Ethereum

Key Ethereum Support Zone Revealed

In other news, market analyst Ali Martinez has identified a key support level for Ethereum. According to data from IntoTheBlock, 2.4 million wallet addresses acquired $52.6 million worth of ETH at the $2,300 price mark.  Therefore a price fall below this region could trigger a panic market sale, resulting in a further price loss.

At the time of writing, ETH trades at $2,458 with a 4.51% gain in the past 24 hours. However, the general market sentiment towards the altcoin remains largely bearish. This is reflected in the 13.21% decline in its daily trading volume currently valued at $13.45 billion. With a market cap of $293.36 billion, Ethereum remains the second-largest cryptocurrency after Bitcoin. Ethereum ]]>
647567
에볼루션 포커 베팅전략;온라인바카라 //shenyangcang.com/news/bitcoin/bitcoin-price-hits-63000-is-the-market-set-for-takeoff/ Sat, 12 Oct 2024 15:00:44 +0000 //shenyangcang.com/?p=647557 According to data from CoinMarketCap, Bitcoin (BTC) gained by 4.08% in the last 24 hours as it briefly traded above the $63,000 price mark. Notably, this price rise comes following a decline that saw the market leader trade below $59,000 on Thursday. While the market sentiment is currently bullish, certain conditions are needed to procure an actual bullish breakout.

Bitcoin On The Brink Of Short-Term Bullish Run

Following Bitcoin’s price ascent to around $62,000 on Friday, CryptoQuant analyst with the username Yonsei_dent shared a key insight on the asset’s potential price movement. 

In a Quickake post, Yonsei_dent highlights $62,700 to be the key price level for short-term holders i.e. $62,700 represents the average price at which many short-holders acquired Bitcoin, which the analyst states has remained consistent for the last three months.

Therefore, this presents a critical price level for BTC, a movement above which signals a change in a market shift and can spur buying activity from short-term holders. However, Yonsei_dent notes that Bitcoin needs to rise above $63,000 to initiate a significant bullish momentum over the coming weeks.   Bitcoin Since this price commentary, Bitcoin has traded above $63,000, albeit temporarily before retracing to around $62,300. This brief breakout can be traced to a lack of significant trading volume, a condition critical to the short-term bullish breakout deceived by Yonsei_dent. Currently, Bitcoin’s trading volume is valued at $30.75 billion, however, reflecting only a minor 2.94% gain in the last 24 hours.  If the price of BTC returned above $63,000 with a marked increase in trading activity, the premier cryptocurrency could rise to around $67,000, at which lies its next significant price resistance level.

Bitcoin Approaches Critical November 

In contrast to popular sentiments, Bitcoin has so far experienced a rather tumultuous experience in October. And while the crypto market leader may eventually pull off an “Uptober�/a>, November is shaping up to potentially provide the needed bullish drivers for the BTC market. Firstly, investors expect the Federal Reserve to implement a 25 basis points cut which would avail more liquidity for volatile assets such as Bitcoin. 

Furthermore, the upcoming US elections have also gained significant influence in the crypto market with digital asset regulation becoming a major policy discussion. If pro-crypto Republican candidate Donald Trump secures victory over Vice President Kamala Harris, analysts are hopeful the Bitcoin bull run will finally take off. 

At the time of writing, Bitcoin trades at $62,697 reflecting a 1.07% gain in the last week.  Bitcoin ]]>
647557
카지노사이트 쿠폰;온라인카지노, 카지노;카지노사이트킴 //shenyangcang.com/news/bitcoin/us-spot-bitcoin-etfs-open-q4-2024-with-300-million-weekly-outflows-details/ Sun, 06 Oct 2024 08:30:35 +0000 //shenyangcang.com/?p=646521 Related Reading: US Spot Bitcoin ETFs Become Second-Largest Holder Of BTC Behind Satoshi

Spot Bitcoin ETFs Negative Outflows End Three-Week Positive Streak

According to data from market tracking platform SoSoValue, the US-based spot Bitcoin ETFs registered a cumulative net outflow of $301.54 million in the first week of Q4 2024, ending a three-week run of positive returns.

Following a net inflow of $61.30 million on September 30, these investment funds quickly transitioned into a bearish state as Bitcoin’s value fell sharply amid rising geopolitical tensions in the Middle East. This led to three consecutive days of cumulative negative outflows totaling $388.42 million. On Friday, October 4, the spot BTC ETFs returned to a positive trajectory recording gains of $25.59 million but proved largely insufficient in overturning the earlier deficit.  However, despite this negative weekly performance, the spot Bitcoin ETFs are still primed to attract massive levels of investments in this quarter in line with the lofty price expectations for Bitcoin.

Notably, these investment funds have produced a speculative performance following their launch in January. According to data shared by analyst Quinten Francois, the spot BTC ETFs occupy the top four positions of successful ETF launches in 2024.  With a Bitcoin bull run on the horizon, these exchange-traded products are certain to receive more interest from institutional investors in the coming weeks.

  Bitcoin

Currently, the spot BTC ETFs boast a cumulative total net inflow of $18.50 billion with total net assets valued at $57.73 billion thus representing 4.68% of the Bitcoin circulating supply. BlackRock’s IBIT maintains market dominance with total investments of $22.91 billion while Grayscale’s GBTC and Fidelity’s FBTC account for significant market holdings with net assets of $13.75 billion and $11.09 billion, respectively.

Spot Ethereum ETFs Resume Weekly Negative Flows

Alongside the Spot Bitcoin ETFs, the US spot Ethereum ETFs also registered net weekly outflows of $30.69 million in the first week of Q4 2024, representing a return to a negative streak stretching from August 16. 

In contrast to their Bitcoin counterparts, the ETH spot ETFs have had a challenging debut with total net outflows of 553.66 million. However, they account for 2.28% of the Ethereum market supply with $6.6 billion in total net assets. At the time of writing, Bitcoin trades at $62,062, with Ethereum valued at $2,414. Both assets report negligible price movements in the past day. bitcoin ]]>
646521
토토사이트 더비트;더비트 평생주소 및 도메인 | //shenyangcang.com/news/bitcoin/bitcoin-holds-steady-as-bullish-breakout-awaits-these-conditions-details/ Sun, 06 Oct 2024 05:30:43 +0000 //shenyangcang.com/?p=646517 According to data from CoinMarketCap, Bitcoin currently hovers near the $62,000 price mark with no significant movement in the past day. Notably, the premier cryptocurrency has slipped into a minor consolidation state since the little gains recorded on Friday. However, for long-term traders, Bitcoin has remained in a range-bound movement stretching to March. And while many investors are highly expectant of a bullish breakout in Q4 2024, certain market conditions must be met.

Related Reading: Bitcoin Futures Liquidation Forms Local Price Bottom �A Return To $65,000 Inevitable?

Bitcoin MVRV, CQ Bull & Bear Indicators Show Market Uneasiness

In a Quicktake post on CryptoQuant, an analyst with username burakkesmeci shares that the Bitcoin market is currently set for key price movements. Based on the MVRV Ratio and CQ Bull & Bear metric, burakkesmeci notes that Bitcoin investors are presently showing a significant level of market anticipation. 

For context, the MVRV Ratio compares the current price of Bitcoin to its realized value i.e. the price at which the asset last moved on-chain. It is generally used to indicate if Bitcoin is undervalued or overvalued relative to its realized value. 

When the MVRV ratio crosses above its 365-day Simple Moving Average (SMA 365), it indicates a bullish trend as investors are seeing a year-to-date gain on their assets. However, burakkesmeci notes that Bitcoin’s MVRV currently at 1.90 has been hovering just below its SMA 365 (2.03) since July showing the BTC market remains in a steady position waiting for a breakout. The analyst has also observed a similar pattern in the CQ Bull & Bear indicator which measures recent price action relative to longer-term price movements. According to burrakesmeci, the CQ Bull & Bear metric has been oscillating slightly below its SMA 365 (0.46) since August enforcing the notion that the Bitcoin market is in a holding pattern.   Bitcoin

Factors That Will Spark A Bitcoin Rally

For Bitcoin to experience a bullish breakout from its current holding position, burakkesmeci highlights certain events that must occur. First, he notes that the Federal Reserve must fully engage in a rate-cut cycle, gradually lowering interest rates over time. Interestingly, following a 50 basis points cut in September, market experts are tipping the Fed to implement another 25% cut at their next FOMC meeting in November.   Another bullish factor highlighted by burakkesmeci is an impending quantitative easing which will see the US government inject liquidity into the economy. It is expected that higher liquidity will allow individuals to explore risky investments such as Bitcoin.  At the time of writing, Bitcoin trades at $62,009 with a 0.02% loss in the past 24 hours. Meanwhile, the asset’s daily trading volume is down by 53.80% and valued at $12.97 billion.  bitcoin ]]>
646517
블랙잭 (Blackjack) 의 기본 규칙과 전략 //shenyangcang.com/news/bitcoin/bitcoin-investors-show-fear-could-a-price-bottom-be-imminent/ Sun, 06 Oct 2024 02:00:42 +0000 //shenyangcang.com/?p=646372 In contrast to popular bullish sentiments, Bitcoin began October on a bearish note, recording a price decline of over 7% in the first three days of the month. However, while the BTC market experienced an uptick on Friday as data from the US Labor Department indicated incoming rate cuts, investors have generally retained a cautionary approach.

Bitcoin Fear And Greed Index Touches 37 As Investors Become Uncertain

In a Quicktake post on CryptoQuant, an analyst with username maartunn shared that the Bitcoin Fear and Greed Index currently signals fear following the asset’s recent price slump 

The Fear and Greed Index generally measures the emotions, moods, and behaviors of the crypto market as well as predicts potential trends based on investor sentiment. The index operates on a 0-100 scale, where values above 50 indicate greed, with anything over 74 representing extreme greed, while values below 50 signal fear, and under 24, extreme fear. According to maartunn, the Fear and Greed Index is presently at 37, indicating that many investors are cautious about adding the leading cryptocurrency to their portfolio. In particular, the analyst notes that each time the Fear and Greed Index reached the fear level since 2023, Bitcoin’s price has formed a bottom, i.e. reached the lowest point during a price decline, and is set for price reversal.  Notably, Bitcoin already showed an upward movement on Friday after starting October with a price decline. However, it cannot be said that the price bottom has now occurred as Bitcoin’s daily chart shows the asset is still far above its next significant support level following months of consolidation between $55,000 – 70,000.

Although, if the premier cryptocurrency has bottomed out, it could be heading for a price breakout in line with popular expectations for a bullish “uptober�/a>. For context, October has proven to be the most frequent bullish month for Bitcoin resulting in an average gain of 22.90% in the last 11 years.

Bitcoin

 Related Reading: Bitcoin Price Dip Explained: Key Causes And Where To Expect A Bounce Back To $70,000

Dominant Activity Of Stablecoins Supports Fear And Uncertainty Among Investors

In addition to the Bitcoin Fear and Greed Index of 37, the crypto market has also experienced an increase in market activity of stablecoins namely the Tether USD (USDT) and USD Coin (USDC). 

This development indicates that investors are opting for less volatile assets than risky coins such as Bitcoin, which is often due to uncertainty and fear of impending price crash. CryptoQuant analyst BaroVirtual has attributed this fear to several factors including weak retail market participation, rising geopolitical tensions in the Middle East, as well as the SEC’s hesitation to launch a Spot Ethereum ETF Options.

At the time of writing, Bitcoin continues to exchange hands at 62,071 following a 2.17% gain in the last day. Meanwhile, the token’s daily trading volume is down 17.91% and valued at $29.71 billion. Bitcoin ]]>
646372