When analyzing Bitcoin, many investors cast aside fundamentals and only focus on the price action.
Hence, as the cryptocurrency market has stalled over the past two months, data has shown that the market has grown increasingly bearish. The funding rate of BTC futures markets, which shows the sentiment of the market, is once again negative.
Looking at the fundamentals, though, research firms and funds are extremely bullish.
The head of trading at one prominent blockchain fund is so optimistic that he said in May that the “macro case for Bitcoin has never been more obvious.”
Weiss Crypto Ratings’ 3 “Big” Reasons to Be Bullish on Bitcoin
The crypto arm of markets research giant Weiss Ratings — Weiss Crypto Ratings revealed three “big” reasons they’re bullish on BTC. They are as follows:
“QE Infinity” monetary policy: Earlier this year, to combat the economic effects of the pandemic, the Federal Reserve announced extremely easy monetary policies. In a statement or two, the term “unlimited” or “limitless” was used to describe the central bank’s intents. Weiss Crypto Ratings analysts wrote that Bitcoin will benefit from an influx of fiat money into the economy: “To this end, it recently printed $2.9 trillion in new paper money in the space of just 13 weeks. That works out to about $22 million a minute. Historically, investors pour into gold as a safe haven when they lose confidence in paper money. This time, they’re going to pour into Bitcoin as well.”
Institutional money is entering the Bitcoin and crypto markets: Grayscale’s Bitcoin Trust (GBTC) has seen a strong influx of investment over recent weeks. Some reports say that there are more coins going into that single fund than there are coins mined. Also, through other vehicles like futures and crypto funds, it is clear that institutions want Bitcoin and blockchain investments.
The stock to flow model predicts BTC will rally to $70,000: Weiss Crypto Ratings’ own take on the stock to flow model indicates that Bitcoin will hit $70,000 by the middle of 2021.
Bloomberg’s Mike McGlone Lists Many More Factors
Bloomberg senior commodity analyst Mike McGlone has identified a confluence of other factors implying that Bitcoin is poised to rise.
One of those is the increasing number of active BTC users after the bear market that was seen in 2018 and 2019. He said on the matter last week:
“The number of active Bitcoin addresses used, a key signal of the 2018 price decline and 2019 recovery, suggests a value closer to $12,000, based on historical patterns. Reflecting greater adoption, the 30-day average of unique addresses from Coinmetrics has breached last year’s peak.”
McGlone has also identified as Bitcoin’s increasing correlation to gold and the CME’s uptick in Bitcoin open interest as reasons to be bullish.
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Crypto Research Firm Identifies 3 "Big" Bitcoin Bull Run Catalysts origin »
Analysts from the market intelligence company CryptoQuant note that current patterns in Bitcoin (BTC) metrics indicate possible changes in market dynamics. Bitcoin Price Faces Short-Term Volatility After a period of steady decline, spot exchange reserves have experienced a notable uptick, reflecting an inflow of 20,000 BTC.
The cryptocurrency market experienced a bullish rally on December 17, with Bitcoin (BTC) crossing an all-time high of $107,700. The global crypto market cap increased by 1% to reach $3. 72 trillion, while trading volume soared 34% to $211 billion, signaling heightened investor activity.
Bitcoin shrank under the $100,000 psychological level after hitting a new all-time high yesterday; the Bitcoin market was liquidated to more than half of a billion dollars just in a day. The crypto market has seen massive market liquidations of…
The cryptocurrency market is buzzing with optimism as Bitcoin (BTC) consolidates near $95,000, and altcoins like Tron (TRX) and Reserve Rights (RSR) post massive gains. With a global market capitalization climbing 1% to $3.
The crypto market has soared to a $3. 4 trillion value as Bitcoin reaches new peaks. Bitcoin’s huge surge has naturally propelled most other cryptocurrencies upward as well. For example, NEAR has enjoyed a 21% price increase over the last week, sustaining robust market stability.
Bitcoin retail numbers have dropped significantly after the recent price retracement this cycle. On-chain factors show the market is still in a bull phase; however, major indices differ from previous cycles.
The cryptocurrency market has soared, reaching a new pinnacle with a total market capitalization of $3. 13 trillion, establishing the sector as a formidable economic force. This surge reflects in the growing appeal of Bitcoin ETFs, which have seen unprecedented inflows, while Ethereum (ETH) sets its sights on managing $10 billion in assets.
The cryptocurrency market experiences positive sentiments as Bitcoin nears $100K after topping $97K. Amidst the bullish trends, Bitcoin Cash (BCH) surpassed the $10 billion market cap after significant 24-hour surges.
IBIT options went live Tuesday in a first, a move that market participants widely expect to draw more institutional interest in bitcoin (BTC). Here’s how they could impact the market.
The general cryptocurrency market has seen notable upward momentum in the past few weeks, with Bitcoin, the largest digital asset, leading the market once more toward what several seasoned crypto analysts believe to be one of the biggest bull runs ever.
Let’s face it, cryptocurrency is no longer just a buzzword—it’s here to stay. From Bitcoin to Ethereum, the market has proven that digital currencies and decentralized technologies are shaping the future.
Bitcoin recent price movement of continuous uptrend has drawn the attention of market participants and analysts as it edges closer to creating a new all-time high, blasting through critical resistance levels.
As the market faces one of its most volatile weeks—amid the U.S. election and the Federal Open Market Committee (FOMC) meeting—Bitcoin appears primed for a lasting rally. Historically, major bull runs have followed post-election periods, and analysts are optimistic about Bitcoin’s potential, forecasting it could hit $100,000 by year’s end, […]
Institutional interest in Bitcoin ETFs remains strong, potentially stabilizing the market amid geopolitical uncertainties and economic shifts.
The post BlackRock Bitcoin ETF records $329 million net inflows despite market retreat appeared first on Crypto Briefing.
As the original digital currency, Bitcoin remains one of the most popular Cryptos to trade. Due to this popularity, its price changes frequently, often having a greater impact on the wider Crypto market.
Bitcoin's growing dominance underscores its role as a safer investment amid market volatility, potentially sidelining altcoins further.
The post Bitcoin’s dominance over altcoins grows amid market uncertainty appeared first on Crypto Briefing.
Bitcoin drops below $57K due to major institutional sell-offs and market pressure. Short-term holders face unrealized losses, could trigger market volatility if they decide to cut their losses. $51K is a crucial support level and long-term investors might see this as a buying opportunity.
Short-term Bitcoin holders face mounting losses, potentially leading to increased market volatility and signaling a bearish trend transition.
The post Bitcoin short-term holders underwater as market pressure mounts – Glassnode appeared first on Crypto Briefing.
The crypto market has faced a notable dip lately. At publication, the market cap has fallen by 1. 30% to $2. 04 trillion, while trading volume has plummeted by 40. 36% to $36. 02 billion. Bitcoin (BTC) trades at $58,229.
Quick Take According to a recent analysis by CryptoSlate, the current Bitcoin market is behaving in a strikingly similar pattern to that of 2019. Since reaching an all-time high of approximately $73,000 in March, Bitcoin has been fluctuating mostly within the $60,000 range, reminiscent of previous periods of market consolidation.
As the cryptocurrency market faces yet another wave of volatility, both Bitcoin and Ethereum have seen their recent gains erode, leaving investors on edge. Amidst this uncertainty, many are shifting their focus to promising new ventures, with BlockDAG capturing significant attention.
The cryptocurrency market is witnessing a significant resurgence, with Bitcoin climbing back to $63. 3K. This rally began almost immediately after the near-assassination of former President Trump on Saturday, and the bullish momentum has shown no signs of slowing down.
Bitcoin shows signs of stabilization after the recent price drop, with market data indicating a potential local bottom.
The post Bitcoin bottom is in, but market news still pose threat: Bitfinex appeared first on Crypto Briefing.
The cryptocurrency market is currently facing pressure due to a steep drop in Bitcoin prices. Yet, hope is still alive. Many are awaiting the next bull run, expected to elevate the market once again.
Bitcoin's price remained over $65,000 amid a decline in retail investor activity.
Current on-chain data suggested a lack of short-term holder activity, indicating potential for future market moThe post The silent Bitcoin market: What's happening behind the scenes at $65K? appeared first on AMBCrypto.
Despite the aggressive market correction, with Bitcoin’s (BTC) value dropping to the lower end of the $65,000 zone and Ethereum (ETH) trading around $3,500, key market metrics remain optimistic. Notably, Bitcoin is trading at $65,217 at the reporting time, down…
Bitcoin (BTC) touched its minimum bullish target of $70,100 before facing rejection. Amidst the uncertainty surrounding the upcoming release of Consumer Price Index (CPI), inflation rates, and the Federal Open Market Committee (FOMC) decision, the market is bracing for potential volatility.
Quick Take Recent data from Farside reveals that 8 out of the top 30 publicly traded Bitcoin miners have achieved market capitalizations exceeding $1 billion. Marathon Digital Holdings leads the pack with a market cap of $5.
Bitcoin’s Funding Rates on DyDx and Deribit have turned positive.
The coin’s “flat” Open Interest signals that market participants are unsure of its short-term price direction.
BitcoThe post A look at Bitcoin's rally to $63K and the effect on market demand appeared first on AMBCrypto.
The cryptocurrency market has been struggling lately, with Bitcoin, Ethereum, and many other major, mid-cap, and low-cap currencies experiencing declines or only minor gains. This downturn can be attributed to several factors, including negative sentiment towards the top cryptocurrencies and low trading volumes across the board.
Bitcoin’s trading pattern lately reveals a consistent sideways movement, with fluctuations between $60,000 and $72,000. This trend, as highlighted by top cryptocurrency analyst Doctor Profit via a tweet on X, mirrors historical market behaviors that have typically preceded significant price increases.
Bitcoin (BTC) has again taken the spotlight in the crypto market, rising above $66,000 as a confirmation of its price rebound following the market-wide crash in the past week. However, while Bitcoin has restored optimism in investors, we see negative price action on Toncoin (TON), a notable market gainer in […]
In the midst of the dramatic changes that have occurred in the cryptocurrency space after the Bitcoin halving event, Bitfinex provides a perceptive analysis that reassures investors that the market dynamics of BTC have remained positive in the post-halving period.
As offshore markets diversify, Binance’s Bitcoin market share has declined to 55%, while Bybit emerged as a frontrunner with a surge from 2% to 9. 3% Binance‘s dominance in Bitcoin trading outside the U.
As the Bitcoin (BTC) Halving event concluded for the fourth time, the cryptocurrency market witnessed notable changes in key metrics. These developments have led Charles Edwards, a market expert and founder of Capriole Invest, to issue bold predictions that hint at a paradigm shift in the BTC market.
The price of Bitcoin tumbled below $63,000 during Tuesday’s market bloodbath as momentum slowed in the run-up to the network’s much-awaited miners' rewards halving event.
Bitcoin (BTC) has declined by 4.3% over the past 24 hours, resulting in a widespread collapse across the broader crypto market, as investors exit the market at breakeven on the back of the recent recovery push. The cryptocurrency market is…
The recent volatility in the Bitcoin (BTC) price and its struggle to consolidate above the $70,000 mark has raised questions about the sustainability of its ongoing bull run. However, market expert Charles Edwards, co-founder of Capriole Invest, believes that the decentralized finance (DeFi) protocol Ethena Labs (ENA) could significantly extend and boost Bitcoin’s bull market to new heights.
Bitcoin's atypical bull market trajectory skipped traditional liquidity flows.
Meme coin instability contrasted with the broader cryptocurrency landscape's stability.
Amidst the anticipationThe post Thank Bitcoin, Solana-based memecoins for 'weirdest' bull market - Analyst appeared first on AMBCrypto.
As Bitcoin (BTC) reaches all-time highs, setting the stage for further market growth, Ethereum (ETH) and Option2Trade (O2T) continue to shine as market favourites. Their sustained popularity amidst Bitcoin’s (BTC) milestone achievements highlights the multifaceted nature of the cryptocurrency market, where diversity, innovation, and community involvement are just as crucial for success. Ethereum’s (ETH) role […]
The crypto market has been abuzz since mid-February for good news. Everyone is on alert as the market enters a much-awaited bullish stage with the price increase of the two biggest coins, Bitcoin (BTC) and Ethereum (ETH).
Bitcoin price extended losses and traded below the $95,000 zone. BTC is showing bearish signs and might decline heavily below the $92,000 level. Bitcoin started a fresh decline below the $95,000 zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.
Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone. Bitcoin started a fresh decline from the $108,000 resistance zone.
Bitcoin price started another increase above the $106,000 resistance zone. BTC traded to a new all-time high above $108,000 and is currently correcting gains. Bitcoin started a fresh surge above the $106,000 zone.
Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.
Elon Musk’s crypto investments have soared to staggering new heights, with the combined Bitcoin holdings of Tesla and SpaceX reaching an estimated value of $2 billion.
