The #Bitcoin #BTC Price Continues To Sideline, Reflecting The Lack Of A Driver For Its Rise
According to Markus Thielen, the head of research and strategy at cryptocurrency service provider Matrixport, we can assume that the wave of liquidity from lower #inflation in the United States, which sent BTC and other assets soaring this year, has run its course. deflating.
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From: rubikkav.nft
#Ethereum Holdings Redistributed From Whales To Retail Traders
During the recent pullback in ETH price, an interesting phenomenon occurred.
While Ethereum supply on exchanges declined by $1.04 billion between May 8 and 31, Ether holdings of large wallet investors dropped.
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#ProShares’ #Bitcoin Strategy #ETF (#BITO) has risen 47% year-to-date while BTC gained 60% over the same period. The fund's underperformance stems from hidden costs of rolling futures contracts every month as they expire, called the “contango bleed".
Читать полностью…Over the last 90-days, Crude Oil (#WTI) declined -4.0%, whilst Gold (#XAU) and Silver (#XAG) have rallied 7.5% and 12.7%, respectively. #Bitcoin however, continues to outperform, remaining 14.5% above the February close.
More: https://buff.ly/3qd3Awt
#Ripple #XRP Network Records High Level Of Address Activity
XRP network recorded its second largest address activity spike of all time in the past two days, according to data from crypto intelligence tracker Santiment. On March 18, XRP saw its highest address activity ever...
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#Bitcoin Tries To Break Major Resistance And Indicators Suggest Other Cryptocurrencies May Follow The Same Pattern.
Read More: https://buff.ly/42ekCaM
BTC rally driven by bullish bets in perpetual futures.
BTC rallied roughly 3% overnight and it looks as if a large portion of that was driven by movements in the perpetual futures market.
Since yesterday, over $250mn worth of new BTC perpetual futures contracts were opened...
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Of the 2.3 million of #bitcoin on exchanges, the majority resides on #Binance and #Coinbase.
This wouldn’t include bitcoin in investment custody products like #Grayscale and Coinbase Custody, for example.
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Over the course of 2023, while the #DowJones is down -1.1% and the #S&P500 is up 8.5%, #Bitcoin has outperformed all others with an impressive 58.7% return.
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Inflows of the main #cryptocurrencies, #bitcoin (#BTC) and #ether (#ETH), to exchanges have fallen to their lowest in more than 2 years.
Inflows are currently at $1.65 billion, the lowest value since the start of the 2020-2021 bull market. This can be seen in the following graph shared by the market data company, #Glassnode.
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#Bitcoin #btc decides that bad news is not bad enough as upside volatility accompanies proof that U.S. inflation remains sticky.
According to #CME Group’s FedWatch Tool, the market now narrowly favors a fresh hike in June, whereas before, it was more than 80% certain that a pause would occur.
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#Binance saw its market share decrease by 10.8% (as of May 20th) following the removal of zero-fee trading for #USDT. #Bullish, #OKX, #BitMEX, and #Bybit have emerged as the biggest beneficiaries, gaining 1.55%, 1.44%, 1.25%, and 1.04% in market share, respectively.
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Bitcoin structured products continue to attract institutional capital. From December to May, the AUM fo the ProShares futures-based ETF climbed from $500mn to $900mn. - #Bitcoin #structuredproducts #institutionalcapital #ProShares #ETF
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Ethereum Smart Contracts Has Declined Significantly in May- #ethereum #eth #smartcontract #DuneAnalytics #onchain
The drop, close to 37% compared to the last week of April, can be partly attributed to the high transaction fees that still plague the Ethereum network.
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#Litecoin had a strong month. Total addresses with a balance has increased more intensely since the end of April and we now observe nearly 8.5 million #LTC addresses with a balance!
While Ethereum supply on exchanges declined by $1.04 billion between May 8 and 31, Ether holdings of large wallet investors dropped.
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#Ethereum-based Products Gain Market Share as #Bitcoin-based Products Decline
The first decline in 2023 for Bitcoin and Ethereum-based product assets under management (AUM) was recorded in May, with respective drops of 10.3% and 4.42%, reducing their totals to $21.7bn and $7.50bn.
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The #Bitcoin #BTC Volatility Index, which measures the daily fluctuations in Bitcoin’s price, shows that the 30-day volatility in Bitcoin’s price was 1.52%, which is less than half of the yearly averages across Bitcoin’s history, with values usually above 4%.
Read More: https://buff.ly/3oLSgXI
Fear Of #Inflation Increases Demand For #Cryptocurrencies For Investment And Savings
Given the economic uncertainty, stablecoins, such as #USDT and #USDC, are presented as an attractive option for both companies and individuals seeking protection against the effects of inflation and market #volatility.
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From: rubikkav.nft
China (And Japan) has been accelerating the dumping of its US Treasuries📉.
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Despite its impressive growth during the '21 bullrun, #Polygon #matic has experienced a decline in transactions. More: https://buff.ly/45DZ4qY
Читать полностью…Roughly $2.3 billion in #bitcoin #options open interest and $1.3 billion of ether options open interest was due to expire this past Friday across the May 26th monthly contracts.
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#Bitcoin’s correlation with Chinese equites increases
The correlation between #BTC and Chinese equities (CSI 300) has strengthened this year, although it remains relatively low at approximately 20%.
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#Bitcoin CME Gaps:
• $35,000 📈
• $20,000 📉
As shown on the #Bitcoin #BTC chart, there are still lower time frame targets that could get hit first prior to making a higher move.
Still a rally until proven otherwise imo.
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The #UnitedStates Is The Most Indebted Country In The World. #GDP
In 2021, the public debt in the United States was 24,905,559 million euros, it grew 273,365 million since 2020 when it was 24,632,194 million euros.
Read More: https://buff.ly/3IM1o5v
#Ethereum’s Layer 2 networks experienced a surge in mainnet publishing fees during May, reaching nearly 9000 ether or $16.2 million. Source: https://buff.ly/43sjH7U
Читать полностью…#Ethereum #Exchange #ETH #Glassnode Balance Drops To 5-Year Low
The balance of available Ether across crypto exchanges dropped to a five-year low on May 26, bringing the total amount of Ether held on exchanges to 17.86 million. A drastic decline in the exchange supply of ETH.👇🏻
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#Bitcoin Derivatives Hint That #Bears Are Unwilling To Short
To exclude externalities that might have solely impacted futures markets, traders can gauge the market’s sentiment by measuring whether more activity is going through call (buy) options or put (sell) options.
A 0.70 put-to-call ratio indicates that put option open interest lags the more bullish calls and is, therefore, bullish. In contrast, a 1.40 indicator favors put options, which can be deemed bearish.
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From: rubikkav.nft
#Bitcoin #BTC Drop Liquidated USD 140 Million From Bullish Traders
The bitcoin price fell to $ 26,000, causing the largest bullish settlements in more than two weeks.
With the fall in the bitcoin price ( BTC ) to USD 26,000, bullish settlements of cryptocurrency futures pre...
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From: rubikkav.nft
Realized price refers to the aggregate price at which the BTC supply last moved. It currently sits at just above $20,000, according to LookIntoBitcoin. - #RealizedPrice #BTC #Supply #LookIntoBitcoin #Chart
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