Bitcoin’s recent rally has closely coincided with a trend of investors fleeing exchanges
It appears that the two primary factors behind this trend are degrading trust in centralized platforms coupled with more investors moving towards a long-term “hodling” strategy
Either way, this trend does bolster Bitcoin from a fundamental perspective
Bitcoin’s intense uptrend seen in the time following its mid-March meltdown has ushered in a significant influx of new capital to the market – a sign that retail traders largely thought that the crypto was undervalued at its recent lows.
This can be seen while looking towards the fact that margin traders have largely moved to the sidelines while spot traders take the reins.
Many of these spot buyers have also been moving their BTC away from centralized exchanges and into cold storage wallets, and it appears that there are two primary factors driving this trend.
Bitcoin Spot Traders Flee Crypto Exchanges as Rally Heats Up
Bitcoin’s explosive rally seen throughout the past few weeks has reached a turning point as the crypto struggles to surmount its overhead resistance within the lower-$9,000 region.
It is important to keep in mind that this recent uptrend was driven primarily by spot buying pressure from retail traders, which makes this movement different than the margin-driven ones seen in previous months.
It appears that the bulk of these retail investors who drove this rally are taking a long-term investment strategy as well, as data from research platform Glassnode shows that exchange’s BTC balances have dived throughout the course of this rebound.
Image Courtesy of Glassnode
This means that this Bitcoin has been moved away from exchanges and towards cold storage wallets – a sign that the investors who drove this movement aren’t planning to sell their BTC anytime soon.
Here are the Two Primary Factors Likely Driving This Trend
According to a recent research report from Arcane, it appears that there are two primary factors driving the massive decline in exchanges’ BTC balances.
They explain that the first reason could be due to degrading trust in centralized exchange platforms, as many investors have blamed BTC’s mid-March meltdown on the BitMEX “hardware issues” that led investors to see an overwhelming cascade of liquidations.
“This could…be related to a lack of exchange trust, as investors are getting more nervous about exchanges credibility, possibility with the controversial around BitMEX when the price crashed on March 12th in mind,” they noted.
It could also be rooted in the bullish possibility that investors turning to long-term investment strategies.
“As the BTC price has rebound strongly since the drop, this may indicate that more hodlers are moving their coins off exchanges and hence unlikely to sell their funds,” Arcane Research bullishly notes
Featured image from Unplash. origin »
ICP, HYPE, ASTER Gain as Bitcoin Falls Below $90,000 Bitcoin experienced continued price declines over several days, dropping below $90,000 in recent trading, according to market data. Most altcoins followed the downward trend, though several tokens posted gains against the…
Bitcoin’s MVRV Ratio rebounded off its 365-day SMA, signaling trend continuation if the support holds.
Price structure remains bullish, but on-chain weakness and rising sentiment risk trend rThe post Bitcoin bulls in control? - Not if THESE signals are right appeared first on AMBCrypto.
Increased BTC acquisitions suggested rising demand, potentially pushing Bitcoin to new highs.
Bitcoin’s breakout potential and growing network activity indicated a bullish trend ahead.
TheThe post Bitcoin: 172K BTC acquisition could trigger a bullish trend - How? appeared first on AMBCrypto.
As Bitcoin is regaining significant upward strength, a notable trend has been spotted among long-term holders as indicated by a huge drop in the average age of wallets holding BTC. The trend demonstrates shifting market dynamics, prompting the modification of positions by retail and institutional players in anticipation of future price fluctuations. A Persistent Drop […]
An analyst has explained how the data of an on-chain indicator could suggest a bullish trend is still on for Bitcoin despite the latest pullback. Bitcoin Coinbase Flow Pulse Is Still Signaling Bull Market In a new post on X, CryptoQuant author Axel Adler Jr has talked about the latest trend in the Bitcoin Coinbase […]
Data shows the American exchanges are observing a rise in their Bitcoin dominance. Here’s what happened the last two times this trend appeared. Bitcoin Is Moving From Global Platforms To US-Based Ones In a new post on X, CryptoQuant founder and CEO Ki Young Ju has discussed a trend that has been emerging in a […]
Following a pullback, the price of Bitcoin has continued on its downward movement. The coin, after failing to break above the 100-day Simple Moving Average (SMA) and the trend line has experienced a drop of over 6% from its previous high.
The Bitcoin (BTC) price trend will be determined by whether the weekly chart closes above or below $42,450.
The post Bitcoin (BTC) Price on the Fence – This Resistance Level Holds Key for the Future Trend appeared first on BeInCrypto.
The Grayscale Bitcoin Trust (GBTC) share price has again made headlines. Its premium or discount to Bitcoin’s net asset value (NAV), often viewed as an indicator of institutional sentiment towards the cryptocurrency, has displayed a notable trend recently, even amid the prevailing bearish atmosphere.
Bitcoin price remains stagnant for going on months now, with no clear trend developing and volatility in a downward spiral. However, some subtle signs are popping up that could suggest that a bullish Bitcoin trend is beginning to take shape.
In the exciting world of cryptocurrency, stories of rags-to-riches transformations have become a captivating trend. Early Bitcoin investors stand at the forefront of this trend – with one such investor converting a modest sum into a digital fortune.
Bitcoin's illiquid supply change remains high as the accumulation trend persists.
Bitcoin forms new support and resistance as it remains in the $30,000 price range.
Despite Bitcoin's [BTC] pThe post Bitcoin HODLing strengthens as accumulation trend persists appeared first on AMBCrypto.
Quick Take Following the news of Silvergate Capital and the liquidations that occurred on March 2 through to March 3, Bitcoin is down 4.5%; however, Bitcoin mining stocks are bucking the trend.
The post Bitcoin mining companies defy market trend with positive gains appeared first on CryptoSlate.
The Bitcoin community is divided by opinion and at the moment, it is fair. The market hasn't been outrightly bullish after recent corrections, but the asset continues to hold fort above the $42,000-maThe post Bitcoin: Here's confirmation of what BTC's immediate trend is appeared first on AMBCrypto.
Bitcoin continues to trend lower in the daily chart. After losing support in the $37,000 area, BTC trades at $35,540. The main cryptocurrency by market cap has been on a downwards trend since May 2021.
Bitcoin price is back trending upward after reclaiming $50,000 and the pivotal $1 trillion market cap level. With new all-time highs in sight, the only factor that could have a dramatic impact on the current crypto market trend, is a reversal in the dollar.
Bitcoin price is trading at nearly $50,000 per coin and on-chain activity is soaring. The recent bull trend and surging interest surrounding the cryptocurrency has allowed miners to surpass over $50 million in revenue in a single day generated.
Bitcoin price has now pulled back a full $13,000 from 2021 high to low. Yesterday’s massive bearish, red candle is one obvious sign that the trend is turning. However, a technical analysis tool used to gauge the strength of trends also confirms that bears have taken over the reigns from bulls and it could lead […]
Nevertheless, Bitcoin is still trading above short/medium-term support, failing to confirm the bearish trend reversal. Bitcoin Hanging Man Candle During the week of Jan 11-18, Bitcoin created a hanging man candlestick, which is normally considered a bearish reversal sign when appearing during an upward trend.
While the long-term trend is likely bearish, the short-term trend remains bullish as long as Bitcoin is trading above $36,717. Hidden Divergence Causes Bitcoin Pump BTC has been moving upwards since reaching a local low of $30,402 on Jan.
Bitcoin, despite its recent sideways movement on the charts, has a very positive outlook attached to it. Hodlers of the cryptocurrency have long been optimistic about BTC's long-term price trend.
Bitcoin’s network momentum, a metric that tracks on-chain volume, has stalled in recent months. Some see this trend as a concerning sign for BTC’s long-term trend. This may not be a concern as there are certain trends suppressing the metric, analyst Willy Woo says.
Bitcoin has been stuck in a tight trading range throughout the past several days This has offered little insight into the cryptocurrency’s short-term trend, as both its buyers and sellers remain at an impasse As for where it may trend next, analysts now seem to believe that it is coiling up for a major breakout This could lead it well past $12,000 in the coming few weeks There are a few factors that suggest this […]
As the price of Bitcoin has risen and more individuals have entered the space, an increasing number of BTC has been held in exchange addresses. This trend is likely a byproduct of the arrival of less-technically inclined investors, coupled with the rise of altcoins.
It’s been a slow past few weeks for the Bitcoin market. The cryptocurrency has effectively been range-bound for two months, registering no concrete trend. Despite this, blockchain analytics firms have observed an increase in usage of BTC.
Bitcoin halving hype has faded and the coin hasn't had any violent price swings since the event. Over the past few weeks leading up to the halving, BTC accumulation rose to record levels as hodlers inThe post Bitcoin exchange balances shrink to yearly-low; Ethereum exhibits an opposing trend appeared first on AMBCrypto.
The Bitcoin price is trading above most daily and weekly moving averages. The previous time this occurred, the BTC price was engulfed in a solid upward trend. Bitcoin Highlights The Bitcoin price is likely in a bullish trend.
After good growth, cryptocurrencies have returned to previous levels as buyers are not strong enough to create a bullish trend on the market. Unfortunately, even Bitcoin does not look ready...
The post No Bullish Trend Says This Week’s Bitcoin Crypto Technical Analysis appeared first on Trustnodes.
The cryptocurrency market has been enjoying an unprecedented bull run over the past few months, a trend that reached its apex when Bitcoin briefly touched the $13,000 mark on Binance. However, on June 27, the market witnessed a trend reversal, with the bears returning to the world of digital assets.
Over the past couple of days, Bitcoin has retreated by 12 percent from its 2019 high. Many industry observers have called for this correction following a parabolic surge since the beginning of April.
The month of April was quite friendly to the cryptocurrency market in general and Bitcoin (BTC) in particular. However, this first week of May has proven to be the best so far with Bitcoin pushing past $5,500 to even hit $6,000 on some exchanges, bringing its market cap to over $100 billion for the first […]
The post Bitcoin Bound to Surpass $330,000 in Two Years by Following the 2017 Trend appeared first on ZyCrypto.
Bitcoin has been pumping continuously since its December 2018 lows, leading many people to believe that the much-awaited bull run has begun. Lending more credibility to this was the occurrence of the Golden Cross on April 23, 2019.
Bitcoin price formed a double bottom pattern near $4,940 and climbed higher against the US Dollar. Bulls pushed the price above the key $5,150 and $5,160 resistance levels. Yesterday’s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC/USD pair (data feed from Kraken).
On the day Bitcoin price surged over $1,000, it also took the Baidu trend by storm. China’s top internet search engine saw ‘bitcoin’ emerging on the hottest new keyword list. A pointer system on the platform awarded the keyword 9715 points.
Bitcoin Holding Parabolic Trend, Even In Crypto Winter Over the course of 2018, Bitcoin (BTC) broke a number of key technical levels. In some cases, the cryptocurrency fell so fast (and hard) that its moving.
Another bitcoin miner this week shut down its operations, though the news didn’t come as much of a shock. The latest closure, of U. S. -based Giga Watt which went bankrupt last year, follows a trend among large mining operations that stretches back years.
Ко вторнику, 4 декабря, Bitcoin умеренно восстанавливается в цене и торгуется по 4038 USD, сообщает Дмитрий Гурковский, ведущий аналитик RoboForex. Если рассматривать динамику Bitcoin на 4-часовом таймфрейме, то можем увидеть развитие среднесрочной фазы коррекции.
CoinSpeaker
Bitcoin Price Analysis: BTC/USD Trends of November 12–November 18, 2018
The bulls will be required to gain enough momentum in order to break out from the upper trend line of the symmetrical triangle before noticeable volatility in the Bitcoin market.
CoinSpeaker
Bitcoin Becomes a Real Trend: US Museums Start Accepting Cryptos
The third U. S. museum, Great Lakes Science Center, has announced that it is going to accept Bitcoin as a payment method.
BCH/USD Medium-term Trend: Bearish Supply zones: $800, $900, $1000 Demand zones: $300, $200, $100 BCH continues in a bearish trend in its medium-term outlook. The strong bears' pressure was evident as BCHUSD made lower lows and also breaking key demand areas and fib levels.
Key Points Bitcoin price declined recently below the $6,300 support before correcting higher against the US Dollar. There was a break above a connecting bearish trend line with resistance at $6,360 on the hourly chart of the BTC/USD pair (data feed from Kraken).
There is a lot of focus on the Bitcoin Cash fork which occurs on November 15th. At this stage, it seems things are heading in an interesting direction, albeit most people would not necessarily expect this peculiar trend.
BTC/USD Medium-term Trend: Bearish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $6,300, $6,100, $8,900 Last week the price of Bitcoin was in a bullish trend. The digital currency reached a high of $6,606.
Key Points Bitcoin cash price failed to recover above $550 and declined recently against the US Dollar. There is a crucial bearish trend line formed with resistance at $535 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.
Bitcoin (BTC) is under significant pressure after experiencing a substantial 14% retrace from $65,103 to $55,602. This downturn is occurring amidst a climate of fear and uncertainty impacting both the cryptocurrency and US stock markets.
Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]
Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.
On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]
Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]
An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.
