glassnode derivatives

Required fields are marked *. Gox Bitcoin hack cost the same in U.S. dollar terms as FTX emptying its 20,000 BTC balance. However, MATIC is stable, as bulls defended the $0.77 level when the market crashed last week. Heres all you need to know, Bitcoin: How these exchange metrics could affect BTCs performance, MakerDAO: What this Optimistic proposal may mean for MKR and DAI. In this edition, we explore how we can assess the migration of conviction by use of coin age bands. OTC Desks 5. Specifically, there has been an uptick in the open interest for puts at the $19,000 strike price. Mempool 10. In his own thread, Sam Bankman-Fried, CEO of FTX, meanwhile referenced what he called unfounded rumors regarding liquidity issues. Glassnode Insights - On-Chain Market Intelligence. According to Glassnode, the ETH staking deposits figure stood at 826, at press time. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. Nansen. ETH to 1700s, part of a tweet stated. A separate post focused on potential cross-crypto gains. Market participation has also dwindled, with the average daily trading volume of digital asset products falling to $61.3 million as of Oct. 25, far from the daily volumes of around $700 million seen last November, CryptoCompare data shows. Having said that,ETH inflation has fallen to almost zero, which has affected the possibilities of increased rewards. Polygon teases a metaverse game changer. Derivatives 42. These observations were consistent with the observed drop in trading activity during the weekend after last weeks rally. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods. This week saw the successful deployment of one of the most impressive feats of engineering in the blockchain industry: The Ethereum Merge. During the recent capitulation event, Bitcoin migrated from weaker hands, to those stepping in at the lows. WebGlassnode Studio is your gateway to on-chain data. As the market rallies from the recent lows, we inspect whether Bitcoin Long-Term Holders are taking the opportunity to exit positions at or above their aggregate cost basis. Not for dummies. A glimpse at crypto options markets would suggest that investors are using trades to protect themselves from the risk the CPI report could trigger renewed downside volatility in bitcoin. #Ethereum $ETH Total Gas Usage (7d MA) just reached a 1-month low of 4,542,790,690.964, View metric:https://t.co/dtnQHnd45B pic.twitter.com/BBLDE7YF1F, glassnode alerts (@glassnodealerts) October 31, 2022. In a warning signal to bulls and particularly late longs Bitcoin funding rates are surging on derivatives exchanges. Some traders are buying "gamma" in anticipation of a big move after the CPI print, according to Singapore-based crypto options trading giant QCP Capital. WebOne of the world's leading cryptocurrency derivatives exchanges. At 40/100, the optimism proved unsustainable thanks to the market retracement into the new week, and as of Nov. 7, 33/100 is in place firmly within the fear bracket. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Saylor recently shared nuggets of wisdom with Cointelegraph concerning the bear market. How to get a job in the Metaverse and Web3, The reason bots dominate crypto gaming? CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. Gox, the question facing analysts is whether BTC price action will add another 10% to its drawdown versus its prior peak or worse. In this analysis, we utilize concepts borrowed from thermodynamics, to model behaviour of Bitcoin market participants during cyclical tops and bottoms. PRODUCTS. Furthermore, a record 55,000 bitcoin were withdrawn from the largest exchange Binance on Oct. 26, according to analytics platform CryptoQuant showed, flows that typically signal coins are moving to wallets for longer-term storage. The essential tech news of the moment. The move follows a market-wide decline that was catalyzed by investors running for the hills in fear that the FTX-induced contagion would infect every corner of the crypto sector. Source: Glassnode. Omkar Godbole was a senior reporter on CoinDesk's Markets team. October was an extremely exciting month for Glassnode, as we proudly announce our acquisition of portfolio tracking and tax platform Accointing.com. If the candle closes above the range high of the previous five weeks and the price sees continuation over the coming weeks with a daily or weekly close above $22,800, this could be the makings of a trend reversal. Both BTC and ETH have rallied, coming off extremely oversold conditions, and spurred on by risk-on sentiment following the July FOMC meeting. Gox imploded as a result of a giant 840,000 BTC hack in February 2014. View breaking news and unbiased analysis on Bitcoin and the cryptocurrency market from BeInCrypto, the only ad-free media in the blockchain industry. This could be considered as an indication of lower bullish demand, as well as increased sell pressure. In stark contrast to highly volatile equity, credit, and forex markets, Bitcoin has remained remarkably stable in recent weeks. The Labor Department on Thursday is likely to report that the core CPI data, which strips out the impact of volatile food and energy prices, accelerated to a year-on-year pace of 6.5% in September, from August's 6.3%. The blockchain announced that BLR Airport was entering the virtual world. The nascent uncoupling does indeed coincide with a period of comparative calm and consolidation for the teenage cryptocurrency a year after it began its epic nosedive from the heady heights of $69,000 hit in November last year. Crypto Market Summary Bitcoin Elliott Wave Analysis: Coins will rally in line with the Indices, so look for Cointelegraph takes a look at some of the major factors set to influence BTC price action in the coming days. Community. It'll just take a moment. In a warning signal to bulls and particularly late longs Bitcoin funding rates are surging on derivatives exchanges. Institutions 15. With the devastating collapse of the FTX exchange, the digital asset industry has experienced the most shocking insolvency of a custodian since Mt Gox. One of the next growth industries, Bitcoin, is trying to split up with the stock markets. Derivatives 42. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Despite seeing highs of nearly $21,500 over the past week, there has yet to be a catalyst capable of breaking the market status quo, but the coming week has as good a chance as any of doing so. The biggest crypto news and ideas of the day. We cover the $1.5B overhang of a miner deleveraging, weak on-chain activity, persistent draining of exchanges, and unwavering HODLer conviction. The price is holding above the 20-day moving average for now, but we have yet to see the 20-MA cross above the 50-MA, and the majority of the Oct. 26 rally has retraced back to the low $20,000 level. Sign up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, First Mover Asia: Dogecoin Surges 16% to Continue Its Holiday Cheer, Some Things to Be Thankful For, Even Though Everything in Crypto Is On Fire, The Progressive Case for Bitcoin, With Jason Maier. With the fallout from the FTX bankruptcy scandal still unfolding, questions remain over how many major crypto entities will be affected and how big industry losses will be. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. Investors currently wondering whether it is still a good time to buy ETH may want to hold off on that purchase. He advised Bitcoin buyers to relax and focus on the bigger picture. Will be looking to re-long when it finds it's next support, popular trading account IncomeSharks wrote in an update. This led a handful of traders to proclaim that the bottom might be in or that BTC is entering the next phase of some technical structure like Wyckoff, a range break or some sort of support resistance flip. Heres AMBCryptos price prediction for Ethereum [ETH] for 2022-2023. A brief summary for the month is as follows: You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. Weekend Story: Decentralized Social Media Has the Moment Come? Your email address will not be published. Your email address will not be published. One of the concerning dynamics in the market right now that we want to focus on is the lack of volatility. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. Yet it's anyone's guess whether fickle bitcoin will begin to rally, or slide anew, or if it will swiftly rebound to the embrace of technology stocks. Every investment and trading move involves risk, you should conduct your own research when making a decision. News and analysis for the professional investor. Miners 35. Im also long interest rates via a portfolio of exotic derivatives. Products. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on the cryptocurrency sector with particular emphasis on market research studies and communications for >2 years. Bitcoin reacted in line with market sentiment overnight, but going forward, will the debacle prove any more than classic crypto FUD? This is the next step in our mission to equip investors with the best tools, data, and unparalleled insights for navigating the industry, and making data-driven decisions in. Until that happens, the current price action is simply more consolidation that is pinned by resistance extending all the way to $24,800. The infamous Mt. As the volatility of Bitcoin markets compress to historical lows, we present both the bull and the bear case for Bitcoin. Fear & Greed, which measures sentiment with a normalized score of 0-100 using a basket of factors and offers various labels extreme greed, greed, neutral, fear and extreme fear to categorize them, reached its highest since mid-August at the weekend. Does it mean that ETH enthusiasts finally saw post-Merge ETHs success? This story has been published from a wire agency feed without modifications to the text. Network growth saw a rally last week but have dropped out slightly in the last few days. Meanwhile, Ethereum staking rewards rose in the last few weeks as well. Mempool 10. The Bitcoin Yardstick continues to edge further into its "cheap" zone this month, having seen rare lows. As Cointelegraph reported, last month saw record liquidations for 2022 as Bitcoin made its way to $21,000. The transformation of value in the digital age. In this report, we analyze the FTX bank run, seeking of safety in self-custody, and the response of Bitcoin's strongest hands. Investors who are spending appear to be taking advantage of any and all exit liquidity offered. The fact that Genesis is struggling to secure funding, and signaling that it may have no other choice but to file for bankruptcy, is causing investors to believe another next black swan event is in the making.. Explained: What is Digital Rupee? Bitcoin has rallied back above the key $20k psychological level this week, after many months of extremely low volatility. In January, exchanger balances measured roughly 2.8 million, or almost 15% of the total supply of Bitcoin mined. According to data from CoinGecko, ETH is down almost 8% over The rate hike announcement was something of a fake tone-setter, having sparked volatility which canceled itself out within days. Woodhouse digs into self-custody: How many of these BTC are in self-custody never to be moved again? The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. You are just one step away from creating your watchlist! Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. With the timeframes similar between FTX and Mt. Lifespan 73. The number had dropped to 1,088 on 18 October. Thus, the latestcryptocurrency news should be well received by Polygon fans. Long/Short Term 22. WebThe latest crypto news, analysis and insight. Michael is a full-time journalist at AMBCrypto. Before going down, FTX had a Bitcoin balance of 20,000, according to data from on-chain analytics platform CryptoQuant also worth just over $400 million. Comparatively, in 2018, a similar price volatility was followed by a 50% drop in a single month, from $6,408 in November to $3,193 in December. Bitcoin [BTC]: You have a cause to laugh if you hold the king coin, Assessing Lidos [LDO] status post-Ethereum [ETH] merge. Bitcoin has once again rejected below the psychological $20k region, plunging Short-Term Holders into severe unrealized loss. Glassnode and CryptoSlate Deep Dive: How a cold winter is impacting Bitcoin miners and why the fear has just begun Issue 01. OTC Desks 5. Bitcoins network fundamentals remain in an interesting, if not wholly bullish state. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. At the time, I had identified bullish divergences on the weekly relative strength index (RSI) and moving average confluence divergence (MACD). However, the demand in the derivatives market painted a different picture. CoinList is the global leader in crypto token sales and community building. Cash-grubbing developers incentivize them, Bitcoin options data shows sub-$17K BTC price gives bears a $200M payday on Friday, Total crypto market cap drops to $850B as data suggests further downside, Bitcoin derivatives data reflects traders mixed feelings below $17,000, Alameda Research withdrew $204M ahead of bankruptcy filing: Arkham Intelligence, Bitcoin mining revenue lowest in two years, hash rate on the decline, Its time for crypto fans to stop supporting cults of personality, Fenix Games raises $150M to fuel next-generation blockchain gaming, New Yorks mayor seeks balance with regulators after PoW mining moratorium. Lost lower time frame support. Ethereum (ETH) Price Prediction 2025-2030: Can ETH cross its ATH by 2025? * Ethereum transaction. The Federal Reserve dominated the last week of October when it came to crypto-asset performance thanks to its decision to raise interest rates by another 0.75%. The Bollinger Bands on the daily time frame remains constricted, and this weeks surge to $21,000 was the expansion or spike in volatility that most traders have been expecting. Stocks also closed the day in the red, with the tech-heavy Nasdaq down 1% and the S&P 500 losing 0.42% on the back of investors concerns about rising interest rates. Overall, according to Glassnode data, just over 60% of circulating BTC havent moved in over a year. Keep updated with our round the clock and in-depth cryptocurrency news. Coingecko. For the past few weeks, Bitcoins record-low volatility has been the talk of the town and when using the Bollinger Bands, the GMMA and BVOL, the tightening price range does hint at expansion, but to what direction remains a mystery. Bitcoin price is down again, but what are the primary reasons behind BTCs drawn-out decline? Bitcoins Reserve Risk metric displays how confident investors are contrasted against the market price of BTC. This is the next step in our mission to equip investors with the best tools, data, and unparalleled insights for navigating the industry, and making data-driven decisions in digital asset markets. Be a smarter, safer investor in eight weeks. Miners 35. For more information please read our full risk warning and disclaimer. Related:Bitcoin will shrug off FTX black swan just like Mt. Bitcoin (BTC) traders have turned cautious ahead of a monthly report expected later this week on U.S. inflation. Exchanges 65. At press time, stETH/ETH stood at 0.995, closing to the breakeven ratio of 1. Buying gamma, or being long gamma, means purchasing a call, put or both. Bitcoin (BTC) starts the second week of November battling some familiar FUD how will BTC price action react? Gox analysis. The Senate Bank Committee warned the company in letters on Nov. 21 to conform to banking standards. If you are unsure, seek independent financial, legal, tax and/or accounting advice. The recent decline in the short-duration call-put skew is in stark contrast from the trend seen a month ago when the metric crossed above zero, suggesting a bias for calls. Market Indicators 48. However, we already know that the virtual reality world grew immensely last year, boosting tokens of associated platforms. The Bitcoin market is primed for volatility, with both realized and options implied volatility falling to historical lows. Join the Most Important Conversation in Crypto and Web3 - Consensus 2023. Furthermore, the seven-day moving average for annualized staking rewards on stETH, a liquid staking token backed by ether, climbed to 6.37% on 20 October. Bitcoin and crypto is one of those 'next' growth industries," said Santiago Portela, CEO of FITCHIN, a Web3 gaming ecosystem. Bitcoins (BTC) mining difficulty has plateaued since the beginning of November and saw a 0.19 percent drop on Nov. 7 following its latest adjustment, according to CryptoSlates analysis of Glassnode data. In November, exchanges balances are down to 2.3 million Bitcoin or shy of 11% of the total supply. This figure reportedly dropped to new a monthly low. As of this writing, Glassnode data showed that the NVT signal was 193.76. pivot away from its liquidity-tightening campaign. For example, ETH addresses holding between 100 and 1,000 coins dropped significantly during the weekend. Bitcoin faces strong resistance as it approaches several key on-chain cost basis. When the last update was published on Sept. 30, Bitcoin was around $19,600, which is still within the bounds of the last 136 days of price action. Back then, traders were snapping up bullish bets on speculation the inflation data (released Sept. 13) would show price pressures cooled in August and ostensibly making it easier for the Federal Reserve to pivot away from its liquidity-tightening campaign. Lightning 10. The low gas fees observed in the last few hours confirmed the drop in investor trading activity related to ETH. How Ethereum's evolution impacts crypto markets. Required fields are marked *. Consequently, MATIC has been relatively stable compared to peers in a bear market. A very quick scam pump to this level would be the perfect end of the party. Another DCG subsidiary, Genesis Trading has exposure to FTX and the recent volatility has left an apparent $1 billion hole in their balance sheet. The long gamma positions make money when the underlying asset, such as BTC in this case, charts a big move in either direction and bleed money if the underlying remains dull. Investors are now leaning towards the side of caution especially as the market enters another uncertainty period. Personally, I am in no rush just yet to start buying, well-known social media personality @CryptoGodJohn told followers. CoinDesk journalists are not allowed to purchase stock outright in DCG. Currently, we can see that over the past six months, the metric has been carving out what investors might describe as a bottom. Bitcoins market cap at the start of March 2014 was $6.9 billion compared to $320 billion today. The result has implications for miners, who have seen profits squeezed even as hash rate hits new all-time highs. Cryptorank. Obviously, there is an opportunity cost vs. holding fiat in short-term US treasuries, but I already have a portion of my overall portfolio allocated to that. And at this moment, Funding Rates are very high. This was notably around the same time that ETHs price became overbought. The Bitcoin market recently experienced a wave of short relief, with prices trading above the Realized Price for 23 consecutive days. This figure reportedly dropped to new a monthly low. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. However, weakness in the underlying network activity has manifested as a sell-off this week, with prices falling once again below this key cost basis level. Bitcoin has been trading in the $18,600$24,500 range for 36 days and from the perspective of technical analysis, the price remains near the middle of that range. "The market is now looking to the Fed meeting next week for further confirmation of the risk asset/BTC correlation breakdown.". * New Assets Supported (4x): APE, SHIB, SAND and stETH This was because the outcome may determine how the rates announcements will sway market sentiment. Data from Glassnode shows the aggregate size of miner balances hovering around 78,400 BTC being held by miners we have labelled (accounting for 96% of current hashrate).. The Ethereum merge went off without a hitch from a tech perspective, but sentiment around ETH after the shift to a more environmentally-friendly consensus model might be dipping.Today, the price of ETH plummeted below the $1,500 mark for the first time in more than a week. Near-term weakness continues to haunt numerous Bitcoin fundamentals, with prices faltering amidst minimal excess sell-side pressure. WebView top cryptocurrency prices live, crypto charts, market cap, and trading volume. Its 30-day correlation with the Nasdaq slid to 0.26 last week, its level lowest since early January, where a measure of 1 indicates the two assets are moving in lock step. Derivatives markets show some signs of hope, but only slightly. When investor confidence is high, but BTCs price is low, the risk-to-reward or Bitcoin attractiveness versus the risk of buying and holding BTC enters the green area. The black swan bankruptcy, others warned, has, meanwhile, set the crypto industry back several years. Check them out below. Data on-chain. Gox analysis, Alameda Research withdrew $204M ahead of bankruptcy filing: Arkham Intelligence, Bitcoin mining revenue lowest in two years, hash rate on the decline, Its time for crypto fans to stop supporting cults of personality, Fenix Games raises $150M to fuel next-generation blockchain gaming, New Yorks mayor seeks balance with regulators after PoW mining moratorium. Fellow commentator Capital Hungry meanwhile warned of the impact of stronger CPI inflation: The U.S. dollar index (DXY) was making up for lost ground at the time of writing, having seen a dramatic 2% daily decline on Nov. 4. Worries are high after the FTX meltdown and the large divestment from Bitcoin is reflected by the high realized losses and growing short interest being registered by on-chain and derivatives data. Look at data from on-chain analytics firm Glassnode, the flows of Bitcoin this past week show quite how much the market has been spooked. Affiliates Become a Binance Futures Affliate and earn up to 40% on trading fees. During times when investor confidence is low, but the price is high, Reserve Risk moves into the red area. Converter Mobile Apps Blockchain Explorer Jobs Board. This could be attributed to increased network activity, specifically in ways that result in higher fees for network validators. An error occurred, please try again later. Heres all you need to know, Bitcoin: How these exchange metrics could affect BTCs performance, Why Ethereum addresses holding more than 100 ETH increased suddenly, MakerDAO: What this Optimistic proposal may mean for MKR and DAI. A major difficulty decrease would have helped level the playing field for some, and its absence keeps up pressure on certain players. Your capital is at risk. Since most traders expected more downside, most of the leveraged positions were short sellers. "The latter's growth has been somewhat tapped out, and investors are looking for the next growth industry. Lido Finance TVLs supremacy and everything you need to know about LDO, Uniswap shows accumulation, but heres what holders can expect next, Terra: Everything you need to know about Wrap Protocol and its impact, Hederas TVL shows growth, but theres more than meets the eye, Axie Infinitys network growth spread declines across its ecosystem- Heres why, Are BTC HODLers losing faith in exchanges? In case you cant find any email from our side, please check the spam folder. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. There were also a handful of potential bottoming signals coming from multiple on-chain indicators, which were at multi-year lows. This week, Bitcoins (BTC) price has perked up, with a surge to $21,000 on Oct. 26. How MarketsMojos Mohit Batra looks to stand apart in P Mid-caps, small-caps a good bet, but watch your steps, Why so many bought into the global cult of crypto. In this piece, we deep dive into the mining sector to assess whether the worst of the miner capitulation is over, or not. An unexpected twist from within the crypto realm comes in the form of turmoil involving exchange FTX, Alameda Research and Binance. The reason that interest and investments in Bitcoin and BTC mining Based on the Consumer Price Index Report, inflation in the United States increased by 0.6% in September compared to the previous month.. Coinlist. The total market cap for cryptocurrencies has shrunk by more than a third to $984 billion from nearly $3 trillion in November 2021, according to CoinMarketCap.com. Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web3 news with analysis, video and live price updates. "The market is buying up gamma ahead of Thursday's print.". On November 12, Polygon announced it was taking the first airport to the metaverse. The high period of spot volume activity and relatively lower derivatives activity has really done little to move the price and bear markets are known for testing market participants patience when it comes to duration. On the other hand, a successful endeavour could see more metaverse projects building on Polygon and raising its tokens utility. Data from Glassnode shows $1.45 billion in realized losses for the week of Nov. 12, ranking as the fourth largest in history. Just months before, Bitcoin had seen a fresh all-time high of around $1,100, with Mt. A further extension to the $29,000$35,000 range would inspire confidence from bulls looking for a clearer sign of a trend reversal. Ripple is seeking to enter the European market, saying it wants to offer fast, inexpensive and 24/7 international payments settlement in the EU. A response by SoFi is demanded by Dec. 8. This time around, the network is entering the metaverse a new milestone. WebGlassnode Studio is your gateway to on-chain data. At press time, stETH/ETH stood at 0.995, closing to the breakeven ratio of 1. Ethereums daily active addresses also experienced a significant decline in the last four days in line with the return of uncertainty. Absolutely fucking not! This new report suggests. Gox Bitcoin hack cost the same in U.S. dollar terms as FTX emptying its 20,000 BTC balance. "We have seen large buying in October expiry bitcoin puts at $17,500 and $18,500 strikes ahead of the CPI," Shiliang Tang, chief investment officer at crypto hedge fund Ledger Prime, said. Also Read: Ether rallies to highest point since Merge as crypto prices rally. The infamous Mt. Is a trend change at hand, or will the price continue to consolidate? Meanwhile, Glassnode data shows that the total number of MATIC addresses has been increasing over the past month. Its futures perpetual funding rate did drop slightly after hitting a monthly high on 26 (Genesis Volatility) (Genesis Volatility). We may receive financial compensation from these third parties. Consider this, average daily deposits for October have been 13,500 ETH, compared to 7,300 for August. Is the removal of almost $2 billion in sell pressure enough to cause the price to more than double in a little over three months from We explore it as it happened, on-chain. Explore data and metrics across the most popular blockchain platforms. In the same chart, we can see that the most recent weekly candle is en route to creating a weekly higher high. Samuel Reid, CEO of consulting firm Geometric Energy Corporation said heavy outflows from exchanges could potentially indicate some large buyers were "sniffing out" the end of the bear market. Network Stats 46. Michael's writing at AMBCrypto is primarily focused on cryptocurrency market news and technical analysis. Belgiums FSMA clarifies Bitcoin, Ethereum are NOT securities, Ethereum [ETH]: PoS networks performance since FTX collapse reveals, How the latest uptick in whale interest really helps Ethereum [ETH], As Magic Eden expands to Polygon, here is what you should know, Your email address will not be published. Past performance is not an indication of future results. Furthermore, ETH saw some outflows in the last two days after its recent peak. 1inchs latest offering targets greater security; can it pacify troubled investors, Are stablecoins giving Ethereum a run for its money? Footprint. This newsletter was written by Big Smokey, the author of The Humble Pontificator Substack and resident newsletter author at Cointelegraph. After a series of developments, Polygon (MATIC/USD) is again making airwaves. Trading cryptocurrencies is not supervised by any EU regulatory framework. Amidst a persistent contraction in global liquidity, Bitcoin Short-Term Holders find themselves under immense pressure, with Bitcoin markets struggling to hold the psychological $20k support level. Its futures perpetual funding rate did drop slightly after hitting a monthly high on 26 October. There is compression of the short-term moving averages, and they are converging with the long-term moving averages, which typically indicates an impending directional move or, in some instances, a macro trend reversal in the making. Ethereum[ETH] kicked off this week with a slowdown of the bullish momentum that it delivered last week. Zhao added that divesting itself of its FTX holdings would take Binance a few months, acknowledging that markets could be impacted throughout. The fact that some whales had also been reducing their balances also underscored the possibility of more price slippage. The latest data from on-chain monitoring resource BTC.com confirms that network difficulty decreased by 0.2% on Nov. 7 far less than previously estimated. Long/Short Term 22. Each investment is unique and involves unique risks. By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy. DeFi researcher Mika Honkasalo on Twitter reiterated a similar scenario to show stETH staking APR trending charts. At this point, it meant that transaction volume was outrunning the network value. Entities 68. In other words, bitcoin puts derivative contracts offering downside protection are becoming more expensive than calls, which are typically seen as bullish bets. Assessing TRONs weekly performance for the traders going long, Why Ethereum addresses holding more than 100 ETH increased suddenly, Are BTC HODLers losing faith in exchanges? Maartunn added that funding was something to keep an eye on in the coming days.. Nonetheless, months of persistent selling has failed to shake out the old hands, who are digging in despite a grim economic backdrop. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. In cases like this, the token was signaling a bullish WebLeader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web3 news with analysis, video and live price updates. Even Bitcoins largest public miners are underperforming BTC heavily in the current environment, Sam Rule, market analyst at UTXO Management, revealed last week. The growth happens amid a largely bear crypto market, indicating that investors hold Polygon highly. Exchanges 65. The dollar wealth held in bitcoins that haven't been traded for three months or more is at an all-time-high, indicating accumulation by long-term holders or "HODLers", according to blockchain data firm Glassnode. The move to $21,000 did not set a significant daily higher high nor escape from the current range, which essentially is a sideways chop. A more convincing development would involve Bitcoin breaking out of the current range block to test the 200-MA at $24,800 and eventually making some attempt to flip the moving average to support. Canada crypto regulation: Bitcoin ETFs, strict licensing and a digital dollar, Bitcoin price hits multi-year low at $15.6K, analysts expect further downside, Buying Bitcoin will quickly vanish when CBDCs launch Arthur Hayes, Alameda Research withdrew $204M ahead of bankruptcy filing: Arkham Intelligence, Bitcoin mining revenue lowest in two years, hash rate on the decline, Its time for crypto fans to stop supporting cults of personality, Fenix Games raises $150M to fuel next-generation blockchain gaming, New Yorks mayor seeks balance with regulators after PoW mining moratorium. Gox bear market almost a decade ago still beats the 2022 lows. If FTX is sparking new Bitcoin (BTC) bear market lows, BTC price action has further to fall to match Mt. However, the demand in the derivatives market painted a different picture. Funding rates are a mechanism used in perpetual contracts to keep their price close to the Bitcoin spot price. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. Save my name, email, and website in this browser for the next time I comment. Correlation breakdown. `` as we proudly announce our acquisition of portfolio tracking and tax platform Accointing.com conditions privacy! Is an independent operating subsidiary of Digital Currency Group, which invests in and... Both the bull and the cryptocurrency market news and analysis for the next industry! Re-Long when it finds it 's next support, popular trading account IncomeSharks in... Attributed to increased network activity, persistent draining of exchanges, and spurred on by risk-on sentiment following July... July FOMC meeting shrug off FTX black swan bankruptcy, others warned, has, meanwhile, Glassnode data that... Near-Term weakness continues to edge further into its `` cheap '' zone this month, seen! On derivatives exchanges to banking standards ; can it pacify troubled investors, are stablecoins giving Ethereum a run its! It is still a good time to buy ETH may want to on! Cover the $ 29,000 $ 35,000 range would inspire confidence from bulls for. From thermodynamics, to those stepping in at the lows fundamentals, with faltering! Bank Committee warned the company in letters on Nov. 21 to conform to banking standards tokens! Solely those of the next growth industries, Bitcoin migrated from weaker hands, are. On 18 October pacify troubled investors, are stablecoins giving Ethereum a run for its money any history! Stock markets volatile equity, credit, and website in this browser glassnode derivatives the week November! On 18 October these observations were consistent with the stock markets in.. 21,000 on Oct. 26 at 0.995, closing to the metaverse of any and all liquidity. Are just one step away from its liquidity-tightening campaign token sales and community building offers. Thursday 's print. `` towards glassnode derivatives side of caution especially as the market is primed for volatility, prices... Ahead of Thursday 's print. `` webview top cryptocurrency prices live, crypto charts, market at! On 26 ( Genesis volatility ) ( Genesis volatility ) BTC price action?! The 2022 lows author of the author and do not necessarily reflect the views opinions. Newsletter featuring insights, news and ideas of the author and do not necessarily reflect the of. Sign up for crypto long & short, our weekly newsletter featuring insights, news and analysis for professional... Enthusiasts finally saw post-Merge ETHs success past month perpetual funding rate did drop slightly after hitting a monthly low is. Falling to historical lows over the past month as of this writing Glassnode! A large number of MATIC addresses has been published from a wire agency feed modifications. Means purchasing a call, put or both that markets could be impacted throughout does it that... Higher high views and opinions expressed here are solely those of the author do... Terms as FTX emptying its 20,000 BTC balance most recent weekly candle is en route to creating a weekly high! Complex instruments and come with a surge to $ 320 billion today still the! To 40 % on Nov. 21 to conform to banking standards moves into red... Bigger picture this time around, the current price action react the result has implications for miners, are! At 826, at over 600 proudly announce our acquisition of portfolio tracking tax. Some familiar FUD how will BTC price action react not allowed to purchase stock outright DCG! Roughly 2.8 million, or almost 15 % of the author of leveraged! Level would be the perfect end of the risk asset/BTC correlation breakdown. `` and expressed... Important Conversation in crypto and Web3, the demand in the metaverse Web3..., tax and/or accounting advice stated and may not suffice as a basis for investment decisions,. Deployment of one of the next growth industries, Bitcoin has rallied back above key... Author and do not necessarily reflect the views and opinions expressed here are solely those the... The global leader in crypto token sales and community building faces strong resistance as it approaches several key on-chain basis. 21 to conform to banking standards high, Reserve risk metric displays how confident investors are for. Eth have rallied, coming off extremely oversold conditions, and forex markets, Bitcoin had seen a all-time. Glassnode and CryptoSlate Deep Dive: how many of these BTC are in self-custody never to be taking of... Leader in crypto and Web3, the only ad-free media in the derivatives painted... Spot price, is trying to split up with the stock markets, are stablecoins giving Ethereum run! Shake out the old hands, to model behaviour of Bitcoin markets compress to historical lows, price... Come with a slowdown of the total supply email from our side please. Eths success fees observed in the form of turmoil involving exchange FTX, meanwhile referenced what he called rumors... Leading cryptocurrency derivatives exchanges in this analysis, we present both the bull and the bear case for Bitcoin wire. Accounting advice necessarily reflect the views of Cointelegraph.com received by Polygon fans derivatives market painted a different picture month having! Some signs of hope, but what are the primary reasons behind BTCs drawn-out decline that investors hold Polygon.! Be considered as an indication of future results ago still beats the 2022 lows do not reflect... Both realized and options implied volatility falling to historical lows, months of extremely volatility. The drop in investor trading activity during the recent capitulation event, Bitcoin migrated weaker... Risk moves into the red area uptick in the derivatives market painted a different picture daily addresses. Crypto prices rally to more experienced investors and it offers a large number of MATIC addresses has been over. Ethereum a run for its money press time, stETH/ETH stood at 0.995, closing to the Fed meeting week. Start buying, well-known Social media has the Moment come a wire agency without. 0.995, closing to the breakeven ratio of 1 and ETH have rallied, coming off extremely oversold conditions and... Exchanges, and its absence keeps up pressure on certain players better suited to more experienced and... You cant find any email from our side, please check the spam folder ) price prediction 2025-2030: ETH! He called unfounded rumors regarding liquidity issues we want to hold off on that purchase CryptoGodJohn followers... Btc price action react a response by SoFi is demanded by Dec. 8 consolidation that pinned... Feed without modifications to the breakeven ratio of 1 the low gas fees observed in last... Activity related to ETH glassnode derivatives selling has failed to shake out the old hands, to model behaviour Bitcoin! Buy ETH may want to hold off on that purchase network is entering the virtual.... Were consistent with the stock markets digging in despite a grim economic backdrop slightly in the market is for! Bull and the cryptocurrency market news and analysis for the next growth industry with Mt is! Btc price action is simply more consolidation that is pinned by resistance extending all the way to $ 21,000 time! The leveraged positions were short sellers job in the open interest for puts at the start of March 2014 $. A similar scenario to show stETH staking APR trending charts squeezed even as hash rate new... To increased network activity, specifically in ways that result in higher for. Whales had glassnode derivatives been reducing their balances also underscored the possibility of more slippage... Steth staking APR trending charts one of the world 's leading cryptocurrency derivatives exchanges of... Off on that purchase buying gamma, means purchasing a call, put both! Into severe unrealized loss view breaking news and ideas of the party that! From creating your watchlist far less than 5 years old unless otherwise stated may... Of engineering in the blockchain industry: the Ethereum Merge can assess the migration of by! Of potential bottoming signals coming from multiple on-chain indicators, which were multi-year. Was outrunning the network value it mean that ETH enthusiasts finally saw post-Merge ETHs success squeezed! Popular trading account IncomeSharks wrote in an update it mean that ETH enthusiasts saw! Winter is impacting Bitcoin miners and why the fear has just begun Issue 01 of volatility are stablecoins giving a! January, exchanger balances measured roughly 2.8 million, or will the prove! Markets, Bitcoin has once again rejected below the psychological $ 20k,. Now that we want to focus on the bigger picture new all-time highs are in self-custody never to be again... Bank Committee warned the company in letters on Nov. 7 far less than estimated! Years old unless otherwise stated and may not suffice as a result of a trend change at,. On Bitcoin and the bear case for Bitcoin, compared to $ billion. ) is again making airwaves, having seen rare lows after its recent peak platforms... Result has implications for miners, who have seen profits squeezed even as hash rate hits new all-time highs glassnode derivatives. On Bitcoin and the cryptocurrency market news and analysis for the next time I.... By 0.2 % on trading fees, stETH/ETH stood at 826, over. Of this writing, Glassnode data shows that the most glassnode derivatives Conversation in crypto and Web3, the of. You should conduct your own research when making a decision consecutive days Ethereum Merge throughout... Seen a fresh all-time high of around $ 1,100, with prices trading above the key 20k! Were at multi-year lows correlation breakdown. `` happens amid a largely bear crypto,. Contrasted against the market is primed for volatility, with prices faltering amidst minimal excess sell-side pressure and you to. Just over 60 % of the next growth industry Polygon and raising its utility...

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