Bitcoin Shows Mixed Signals Amid Consolidation: Is a Reversal Coming Soon?

October 13, 2024 Bitcoin.com

Bearish

Bitcoin (BTC) has experienced a steady decline in recent sessions, but technical indicators are sending mixed messages, hinting at a possible market shift on the horizon. Despite the bearish price trend, oscillators are providing a mix of neutral, buy, and sell signals, reflecting indecision among traders. Bitcoin On the 1-hour chart, bitcoin’s (BTC) downward trajectory […]

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Bitcoin Enters Positive Seasonal Trend, Demand Key to Further Growth: Cryptoquant

October 2, 2024 Bitcoin.com

Bitcoin

Bitcoin is entering a period of traditionally positive performance, according to the latest analysis from Cryptoquant and its researchers. However, for bitcoin to reach new highs, increasing demand will be crucial as current levels remain stagnant. ‘Demand Has a Lot of Room to Grow’ Cryptoquant‘s latest report highlights bitcoin’s strong historical performance during the fourth […]

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Bitcoin metrics reset and point to ‘major move’ in Q4 — Analysts

October 1, 2024 Coin Telegraph

Bitcoin

Analysts say Bitcoin’s prolonged downtrend reset its key price metrics, setting BTC up for a stellar Q4 performance.

Bitcoin (BTC) price is trading 7% below the local high of $66,508 reached on Sept. 27, but some analysts are optimistic that this correction could just be a reset of key metrics as BTC prepares for massive gains in the last quarter of 2024.

“Bitcoin is near all-time highs, yet the valuation metrics have all declined from extreme overbought in March to around 17-75% on a 4-year Z-score,” Jamie Coutts, chief crypto analyst at Real Vision, said in an Oct. 1 post on X.

Coutts was referring to an onchain metric called the market value realized value (MVRV) Z-score, which shows the market value’s relative position to realized value, which was -116% on the three-month timeframe, -94% over a two-year period and -107% on the four-year timeframe. This suggests that Bitcoin is extremely undervalued on multiple timeframes.

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XRP leads crypto weekend gains fueled by surging open interest

September 29, 2024 Coin Telegraph

Altcoins

XRP shows strength against the US dollar as open interest surges. Is a move beyond $1 realistic?

XRP (XRP) price was up 5% to trade at $0.6278 on Sept. 29. This is part of a prevailing recovery that began on Sept. 6 and has seen the remittance token rise more than 10% over the last 30 days, fueled by a significant increase in its open interest.

Data from Cointelegraph Markets Pro and TradingView shows XRP rose from a low of $0.5027 on Sept. 6, climbing as much as 26% to an intraday high of $0.6335 on Sept. 29.

BTC/USD daily chart. Source: TradingView

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Bitcoin’s new price targets of over $80K may not actually be the ‘all-time high’

September 23, 2024 Coin Telegraph

Bitcoin

Bitcoin reached a new all-time high of $73,880 earlier in 2024, but toppling it by 2025 does not take it above 2021’s inflation-adjusted value.

Bitcoin’s (BTC) price is only 14% below its all-time high at the moment, and favorable conditions have produced targets of over $80,000 in the coming weeks.

Yet, a new all-time high (ATH) of around $100,000 might not be as impressive a feat as imagined when adjusting for inflation.

Luke Broyles, a Bitcoin analyst, argues that BTC crossing the elusive $100,000 mark will “barely” match BTC’s buying value in 2021. In an X post, Broyles highlights that, if adjusted for inflation, the ATH price from 2021 will be $83,000 at the moment.

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Ethereum fractal hints at $3.3K as analyst says its ‘go time’ for ETH price

September 18, 2024 Coin Telegraph

$<div>Ethereum fractal hints at .3K as analyst says its 'go time' for ETH price</div>$

Coin Telegraph

Ethereum’s bullish fractal pattern from 2021 consists of a five-point setup, which ETH is currently mirroring in 2024.

Ethereum’s (ETH) price action has remained underwhelming recently, with a 9% drawdown in September. ETH’s Q3 is en route to becoming the third-worst period in terms of returns since inception.

Yet, favourable technicals are starting to surface for the altcoin as a bullish fractal is reaching a conclusive state.

From a technical standpoint, a market fractal is a historically repetitive pattern that allows traders to identify trend reversals in the charts. Ethereum is currently painting a bullish fractal setup, initially observed in 2021.

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Crypto exchange volumes reflect Bitcoin traders’ ‘reduced trading appetite’ — Glassnode

September 11, 2024 Coin Telegraph

Bitcoin

Glassnode data highlights a “notable decline in trade activity over the last quarter,” but traders are hopeful that Q4 will bring a sharp trend reversal.

Bitcoin (BTC) continued its recovery on Sept. 10, reaching $58,000 to trade 8% above its four-week low of $53,955. Despite this recovery, Bitcoin investors “remain unconvinced” in the short term, according to an analysis from Glassnode.

Investors are interacting less with centralized exchanges (CEXs) with “contracting volumes across the board,” according to a Sept. 10 report published by Glassnode.

The report noted that CEXs remain central indicators of investors’ speculative activity and price discovery in the ever-evolving cryptocurrency market. They evaluated onchain volumes aggregated across CEXs to determine investor activity and speculation appetite.

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Sub $50K Bitcoin correction remains in play as whales look to sell BTC

September 7, 2024 Coin Telegraph

Sub K Bitcoin correction remains in play as whales look to sell BTC

Arthur Hayes

Bitcoin could experience more downward pressure leading up to the Sept. 18 US interest rate cut, but will it fall below $50,000 this weekend?

A Bitcoin correction below the $50,000 psychological mark could occur as soon as this weekend, threatening to create more downward pressure in September, which is a historically bearish month.

The Bitcoin (BTC) price could see more downside pressure this weekend as whales (entities holding large amounts of BTC) look to lock in profits.

One savvy whale address sold 100 BTC, worth over $5.3 million, to lock in over $206,000 in profit.

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2024 Report Finds 96% of NFTs Declared ‘Dead’ Amid Market Instability

September 3, 2024 Bitcoin.com

bitcoin.com

A recent report by nftevening.com reveals a troubling state of the non-fungible token (NFT) market, with 96% of NFTs now considered “dead.” The analysis highlights the high unprofitability rate among holders and the fleeting lifespan of most NFTs. NFT Sector Faces Uncertain Path as 2024 Bull Run Bypasses It As highlighted in nftevening.com’s 2024 report, […]

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US Election-Year Bull Runs: How Bitcoin Historically Surged Post-Victory

September 1, 2024 Bitcoin.com

Bitcoin

With just 65 days remaining until the U.S. presidential election, bitcoin wrapped up August with an 8.6% decline compared to where it started the month. Historically, in the last two election cycles, bitcoin’s value has only shown substantial appreciation after the election had ended and a victor was declared. From 2012 to 2020: How Bitcoin […]

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