{"id":17241,"date":"2024-09-24T17:41:21","date_gmt":"2024-09-24T14:41:21","guid":{"rendered":"https:\/\/forklog.com\/en\/cryptoquant-predicts-bitcoin-price-surge-amid-rising-profitable-coins\/"},"modified":"2024-09-24T17:41:21","modified_gmt":"2024-09-24T14:41:21","slug":"cryptoquant-predicts-bitcoin-price-surge-amid-rising-profitable-coins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cryptoquant-predicts-bitcoin-price-surge-amid-rising-profitable-coins\/","title":{"rendered":"CryptoQuant Predicts Bitcoin Price Surge Amid Rising ‘Profitable’ Coins"},"content":{"rendered":"

The increase in ‘profitable’ bitcoins above the 365 DMA<\/span> signals potential further growth of the asset, according to CryptoQuant, as reported by The Block<\/a>.<\/p>\n

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Data: CryptoQuant.<\/figcaption><\/figure>\n
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“This inflection point is typically associated with further price increases,”<\/em> commented the experts.<\/p>\n<\/blockquote>\n

The proportion of supply in profit often serves as an emotional benchmark for investors, acting as a crucial support or resistance zone.<\/p>\n

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“When the price exceeds this level, optimism rises; if it falls below, selling pressure may increase,”<\/em> explained CryptoQuant.<\/p>\n<\/blockquote>\n

The rise in this indicator became possible after the digital gold’s value jumped by more than 8% due to the Federal Reserve’s Fed<\/span> rate cut by 50 basis points.<\/p>\n

Bitfinex urged caution, pointing to the leveling of the cumulative volume delta, which measures the difference between the total turnover of buys and sells in the spot market over a certain period.<\/p>\n

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“We expect bitcoin to consolidate in a new range near current levels or experience a partial correction in the short term,”<\/em> wrote the experts.<\/p>\n<\/blockquote>\n

Earlier, former BitMEX CEO Arthur Hayes admitted he was wrong about the worsening cryptocurrency market situation due to the strengthening yen. He allowed for the growth of altcoins, including the meme token sector.<\/p>\n

Previously, technical analyst and head of Factor LLC Peter Brandt predicted a fivefold increase in the digital gold’s rate relative to its physical counterpart by 2025.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The increase in ‘profitable’ bitcoins above the 365 DMA signals potential further growth of the asset, according to CryptoQuant, as reported by The Block. Data: CryptoQuant. “This inflection point is typically associated with further price increases,” commented the experts. The proportion of supply in profit often serves as an emotional benchmark for investors, acting as […]<\/p>\n","protected":false},"author":1,"featured_media":17240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,1145,1268],"class_list":["post-17241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-market-analysis","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17241"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17240"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}