Market Analysis | ForkLog

ForkLog 11 02.07.2024

Bitfinex Analysts: Bitcoin Whales Resume Profit-Taking

Bitcoin holders, who had paused profit-taking in early May, have resumed selling their assets, according to observations by Bitfinex experts.

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ForkLog 12 02.07.2024

Bitcoin ETF Inflows Continue for Fifth Consecutive Day

On July 1, net inflows into spot Bitcoin ETFs reached $129.5 million, according to data from SoSoValue. Over the past five trading days, a total of $266.8 million has flowed into these products, and since approval, the figure stands at $14.65 billion. The total assets under management have approached $54.9 billion. Data: SoSoValue. On July […]

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ForkLog 9 01.07.2024

Bitcoin Faces Resistance at $65,000, Say Experts

The resistance level for Bitcoin’s current rebound could be $65,000. July is typically a strong month for digital gold, but the Mt.Gox factor may be more significant. Upcoming US presidential elections and macroeconomic data could steer the leading cryptocurrency back onto a growth trajectory. To continue its rebound from June lows, Bitcoin must surpass the […]

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ForkLog 18 01.07.2024

NFT Sales Plunge 44% Amid Crypto Market Downturn and Meme Token Surge

The frenzy surrounding meme coins, coupled with a general downturn in the cryptocurrency market in the second quarter, led to a 44% drop in non-fungible token (NFT) sales. This was stated by Apollo Crypto’s Chief Investment Officer Henrik Andersson in an interview with Cointelegraph. According to CryptoSlam, NFT sales volume fell from $4.14 billion in […]

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ForkLog 5 28.06.2024

Bearish Sentiments Hint at Bitcoin’s Potential Bottom

The level of bullish sentiment on X, Reddit, Telegram, 4Chan, and BitcoinTalk has significantly declined, with traders losing confidence in the markets, which could be seen as a factor indicating a local bottom, according to Santiment. ? The level of bullish calls across X, Reddit, Telegram, 4Chan, and BitcoinTalk has dropped significantly as traders have […]

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ForkLog 20 27.06.2024

Mayer Multiple Indicator Suggests Possible Bitcoin Price Floor

The leading cryptocurrency has facilitated a “healthy reset” of bullish sentiment as the Mayer Multiple indicator reached an eight-month low, according to analyst On-Chain Collage. The Bitcoin Mayer Multiple is now at a level not seen since October 2023, despite price at $60.9K now vs. $29.9K back in October. A healthy reset of sentiment to […]

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ForkLog 6 26.06.2024

Inflow Resumes in Spot Bitcoin ETFs After Seven-Day Outflow

On June 25, inflows into BTC-ETFs amounted to $31.01 million, according to SoSoValue. This follows a seven-day period of negative trends during which investors withdrew $1.13 billion. Data: SoSoValue. On June 25, clients withdrew $30.3 million from Grayscale’s GBTC. The situation was balanced by inflows into Fidelity’s FBTC ($48.8 million), Bitwise’s BITB ($15.2 million), and […]

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ForkLog 4 26.06.2024

Indicators Suggest Bitcoin May Have Hit a Local Bottom

Over the past three weeks, the price of the leading cryptocurrency has fallen by 15% from $70,000. However, after a noticeable rebound on June 25 from $60,000, signs of a potential local bottom have emerged. This conclusion was reached by CryptoQuant. From an on-chain analysis perspective, the quotes crossed the realized price level of short-term […]

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ForkLog 11 26.06.2024

Cryptocurrency Sectors See Varied Growth Since January

Meme coins, RWA, and AI have led the growth across various sectors of the cryptocurrency market. Since January, the average daily return of the ten largest by market capitalization has been 1834%, 213%, and 72% respectively, according to Biteye. Analysts used CoinGecko data from January 1 to June 21. Data: Biteye. Experts highlighted the popular […]

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ForkLog 12 25.06.2024

Analysts Detect Bullish Sentiment in Bitcoin Options Market

Despite a market correction, derivatives indicators suggest a persistent bullish sentiment towards Bitcoin ahead of the expiration of weekly, monthly, and quarterly positions on June 28th. This was stated by several experts in a conversation with The Block. On the specified date, the put/call ratio stands at 0.51, indicating trader optimism. Open interest in Bitcoin […]

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ForkLog 28 25.06.2024

Kaiko Assesses ETF Impact on Cryptocurrency Trading Volumes

The launch of spot Bitcoin ETFs in the United States has significantly increased global cryptocurrency trading volumes, according to calculations by Kaiko. Despite reporting improved revenue and profits, Coinbase’s global market share has seen only a minor increase of 1% over the same time period. Read more here: https://t.co/GB4TXGfeaH — Kaiko (@KaikoData) June 25, 2024 […]

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ForkLog 12 25.06.2024

Mt.Gox’s Impact on Bitcoin May Be Overstated, Says Expert

The bearish pressure associated with the distribution of Mt.Gox assets may be less significant than market participants anticipate. This is the view of Sam Callahan from Swan Bitcoin, as reported by CoinDesk. “Creditors who wanted to cash out their coins over the past decade had the opportunity to do so by selling their bankruptcy claims. […]

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