In the past 24 hours, not much has changed. #Bitcoin continues its sideways movement while the on-chain indicators, as well as the news surrounding the crypto space, continue to show us promising signs🤟
Bitcoin reserve on known exchange addresses slightly increased. There were mainly small deposits from retail investors so nothing to worry about✅ #Bitcoin
Miners continue to accumulate at those levels as their outflows keep hovering below the yearly mean ✅ #Bitcoin
Funding rates are staying low as derivatives traders aren’t feeling too confident during those volatile times ✅ #Bitcoin
30-day MVRV measuring the average return of traders is currently sitting at -7,41%. Historically speaking, not a lot of traders were selling at a loss so this might signal that the bottom is in/near ✅ #Bitcoin
A few minutes ago, we also saw another huge spike in Coinbase Premium. Looks like someone was loading up their bags during the recent dip ✅ #Bitcoin
At the moment, no red flags can be observed. Even Kimchi Premium normalized and dropped below 10% ✅ #Bitcoin
Fear and Greed Index is currently at 65% ✅ #Bitcoin
In the past 24 hours, the liquid circulating supply of $LUNA decreased by over 1 million. It is currently sitting at 125,131,000 🔥
Axelar just posted that they will soon be integrating Anchor and other Terra protocols 😎
Yesterday, it was revealed that Vlad Tenev, the CEO and Co-founder of Robinhood (a financial app with over 13 million users) is one of the early investors in Terra (LUNA) 😱 Literally all the big names are backing it!
Another day, another drop… The selloff started after Biden proposed the bill to tax capital gains as high as 43.4% (not passed yet)😱
In addition, $1.55 worth of #BTC futures contracts expire today and this could be another reason for a sharp decline. We have seen the same scenario play out in the past months so nothing new this time around.
Bitcoin reserve on known exchange addresses has seen a rise as the crowd started panic selling their coins. That being said, the inflow mean was very low so it is safe to say that those were retail investors and not large institutions ✅
#Bitcoin continues to move sideways as most market participants are not really sure about the future price action and fear that we will see another drop🤔
With the on-chain data, it is hard to predict any short term price swings but what I can say for sure is that things look extremely bullish for the long term🚀 #Bitcoin
Yesterday, Venmo announced that more than 70 million customers can now buy, hold and sell crypto directly from their app🙏This places more pressure on Apple, Google, & Facebook to integrate bitcoin/crypto into their mobile applications! Bullish🚀
After bouncing nicely from the Sunday lows, we saw another drop below $54k😱 while it may be painful to watch this volatility, this is an important part of a bull cycle as it cools down an overheated market. #Bitcoin
While the on-chain indicators were not really in the alarming territory before the drop, it is safe to say that we are currently in a much healthy place🤞 #Bitcoin
The (over)reaction to the dump can be observed by looking at the social mentions, which surged by +107% compared to the day prior, reaching its highest margin since the February price top😱 This points to growing fears and short-term panic on crypto social media 👀 #Bitcoin