Post Q1 2024, Bitcoin's valuation struggles below $60,000 with several indicators pointing to a downturn:
• Demand Slowdown: The number of permanent holders and whale activity are on the decline. Spot ETF interest has also faded.
• Miner Activity: Increased selling from miners, adding to supply pressures.
• Futures Market: A bearish outlook as sell orders dominate.
• Price Forecast: Short-term projections suggest a dip to $55K-$57K, below the usual bull market support level of $63K.
Current Sentiment:
• Buying enthusiasm is reduced, seen in negative Coinbase premiums and decreased futures leverage.
• Growth in whale demand has halved since late March, affecting potential rallies.
Immediate Outlook:
• With traders opening more short positions, an immediate test of lower support levels around $55K-$57K is likely, significantly under the $63K cost basis.
• This phase could lead to market stabilization or further declines.
See our research report for all the real-time data.
Weekly Crypto Report | @cryptoquant_official
• Demand Slowdown: The number of permanent holders and whale activity are on the decline. Spot ETF interest has also faded.
• Miner Activity: Increased selling from miners, adding to supply pressures.
• Futures Market: A bearish outlook as sell orders dominate.
• Price Forecast: Short-term projections suggest a dip to $55K-$57K, below the usual bull market support level of $63K.
Current Sentiment:
• Buying enthusiasm is reduced, seen in negative Coinbase premiums and decreased futures leverage.
• Growth in whale demand has halved since late March, affecting potential rallies.
Immediate Outlook:
• With traders opening more short positions, an immediate test of lower support levels around $55K-$57K is likely, significantly under the $63K cost basis.
• This phase could lead to market stabilization or further declines.
See our research report for all the real-time data.
Weekly Crypto Report | @cryptoquant_official
Deciphering Whales: The Impact of Exchange Whale Ratio
“In the case of Bitcoin, 96% of the influx on exchanges is attributed to whales (Top 10 Inflow), while for Ethereum, this number is only 11.45%.” – Link
By joaowedson | @cryptoquant_official
“In the case of Bitcoin, 96% of the influx on exchanges is attributed to whales (Top 10 Inflow), while for Ethereum, this number is only 11.45%.” – Link
By joaowedson | @cryptoquant_official
BTC - Possibility of a short-term rebound
“Generally, in a bull market, a short-term rebound often occurs when the short-term SOPR reaches the bottom of the Bollinger Band.” – Link
By Crypto Dan | @cryptoquant_official
“Generally, in a bull market, a short-term rebound often occurs when the short-term SOPR reaches the bottom of the Bollinger Band.” – Link
By Crypto Dan | @cryptoquant_official
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Be in the know of market movements with expert alerts and pro charts.
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Get Discount | @cryptoquant_official
Binance Starting to Ape In
“As Binance is one of the top exchanges with retail based customers, this normally signals that retails are starting to ape in to building long positions.” – Link
By BQYoutube | @cryptoquant_official
“As Binance is one of the top exchanges with retail based customers, this normally signals that retails are starting to ape in to building long positions.” – Link
By BQYoutube | @cryptoquant_official
Bitcoin Market Dynamics
“The price action market breakout is yet to come, but Coinbase premium index has made a market breakout.” – Link
By TraderOasis | @cryptoquant_official
“The price action market breakout is yet to come, but Coinbase premium index has made a market breakout.” – Link
By TraderOasis | @cryptoquant_official
Coinbase Premium Index and EMA14: A Guiding Light for Investors?
“We witness that when the CPI data remains above EMA14, Bitcoin price makes strong upward movements.” – Link
By burakkesmeci | @cryptoquant_official
“We witness that when the CPI data remains above EMA14, Bitcoin price makes strong upward movements.” – Link
By burakkesmeci | @cryptoquant_official
Longest Miner Consolidation/Accumulation Period since $16k Bitcoin
“With ETF flows rising, and odds increasing of a rate cut in Q4, miners are likely accumulating in anticipation of higher prices to sell into.” – Link
By Papi | @cryptoquant_official
“With ETF flows rising, and odds increasing of a rate cut in Q4, miners are likely accumulating in anticipation of higher prices to sell into.” – Link
By Papi | @cryptoquant_official
Movements of large whales in the range of 1k to 10k
“Typically provide significant downward volatility to the market, have not been consistently participating in this current uptrend cycle. (Green box)” – Link
By Mignolet | @cryptoquant_official
“Typically provide significant downward volatility to the market, have not been consistently participating in this current uptrend cycle. (Green box)” – Link
By Mignolet | @cryptoquant_official
Implications of High Profit Levels and Sentiment Thresholds
“We are approaching the 'grey line', which serves as the optimism/pessimism threshold for the crypto market.” – Link
By Kripto Mevsimi | @cryptoquant_official
“We are approaching the 'grey line', which serves as the optimism/pessimism threshold for the crypto market.” – Link
By Kripto Mevsimi | @cryptoquant_official
Bitcoin’s demand is decreasing & supply has halved. What does this mean for the market?
Join our Liquid Lunch webinar on May 13, 6:30 PM ET. With expert speakers Jamie Coutts from Real Vision and CryptoQuant’s Garrett Paymon and Julio Moreno, we’ll dissect this.
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Register Now | @cryptoquant_official
Join our Liquid Lunch webinar on May 13, 6:30 PM ET. With expert speakers Jamie Coutts from Real Vision and CryptoQuant’s Garrett Paymon and Julio Moreno, we’ll dissect this.
Dive into market liquidity, institutional impacts & BTC demand. Don't miss out—spots are limited!
Register Now | @cryptoquant_official
The Power of Spent Output Value Bands
“It's possible to observe an increase in the frequency of large transactions when the Bitcoin price rises. This suggests that major market players are moving their coins during bullish periods to realize profits.” – Link
By joaowedson | @cryptoquant_official
“It's possible to observe an increase in the frequency of large transactions when the Bitcoin price rises. This suggests that major market players are moving their coins during bullish periods to realize profits.” – Link
By joaowedson | @cryptoquant_official
Segmentation of Short Term Holder's NUPL
“From the chart, it's apparent that the NUPL for traders has recently dipped into negative territory, signaling a rise in fear within this cohort.” – Link
By onchained | @cryptoquant_official
“From the chart, it's apparent that the NUPL for traders has recently dipped into negative territory, signaling a rise in fear within this cohort.” – Link
By onchained | @cryptoquant_official
Difference in money inflow between past and current bull cycle
“The current short-term money inflow situation is significantly smaller than the peak of the past bull cycle.” – Link
By Crypto Dan | @cryptoquant_official
“The current short-term money inflow situation is significantly smaller than the peak of the past bull cycle.” – Link
By Crypto Dan | @cryptoquant_official