CryptoQuant

Bitcoin’s price may be due for another correction despite a strong recovery from its weekend dump to $61,000, according to analysts at CryptoQuant. In a community “quicktake” posted on Monday, Bitcoin and Ethereum trader GAAH noted that the prevailing bullish market sentiment may be getting too hot based on information from the perpetual futures market. Is Bitcoin Still Overheated? As the analyst noted, average 30-dy funding rates remain high for Bitcoin, even after its latest price dump. Their current level…

Crypto market analytics platform CryptoQuant believes the effects of Bitcoin halvings have been diminishing and that the upcoming event will have an even smaller impact on BTC’s value. In the latest edition of the firm’s weekly crypto report, analysts said the effect of the halving has been reducing because the new issuance of BTC keeps getting smaller in relation to the number being sold by long-term holders, signaling that demand will be the key driver of prices post-halving. Bitcoin Halving…

The anticipated Bitcoin halving is just two weeks away. While historically, it has signaled the start of a price acceleration phase, analysts at CryptoQuant argue that its impact is waning. The forthcoming halving will reduce the new issuance by 14,000 BTC on a monthly basis, traditionally decreasing sell pressure from miners. However, the once-significant influence of halvings on Bitcoin prices seems to diminish as the new issuance becomes smaller relative to the total supply available for sale. Bitcoin Halving Influence…

With the fourth Bitcoin halving approximately 15 days away, miners are focused on increasing their profitability before their block rewards are significantly reduced. Although some Bitcoin mining companies have increased their selling activity, they still face challenges like lower transaction fees, increasing mining competition, and the need for higher computing power to produce the same amount of BTC. Miners Struggle to Sustain Profitability The reduction of Bitcoin block rewards from 6.25 BTC to 3.125 BTC will significantly affect miners. Their…

Ethena Labs has revealed its latest strategic move: the inclusion of Bitcoin (BTC) as collateral for its synthetic dollar-pegged product, USDe. This decision, aimed at significantly scaling the product’s supply from its current $2 billion, capitalizes on the burgeoning BTC derivative markets for enhanced scalability and liquidity in delta hedging practices. Ethena Labs’ ambitious goal is to leverage the considerable growth of BTC open interest, which has seen a substantial rise from $10 billion to $25 billion in just one…

The chances of Bitcoin facing a sell-side liquidity crisis in the next few months are very high due to demand for the digital asset soaring to unprecedented levels. According to a weekly report from CryptoQuant, analysts expect the present Bitcoin sell-side liquidity inventory to cover demand for six to twelve months. Conversely, a plunge in liquid inventory could pull Bitcoin’s (BTC) price northward. Unprecedented Demand Levels Monthly demand for Bitcoin has risen from 40,000 BTC at the start of 2024…

According to a recent press release, CryptoQuant has raised $3 million from industry investors during the recent funding round. The fund was led by  Hashed, a globally renowned blockchain capital firm. The firm has been financially supporting blockchain projects towards a decentralized future and has invested in public blockchain projects like Klaytn and Line’s LINK. Other significant investors who participated in the fund include Galaxy Interactive,  Mike Novogratz, Youbi Capital, and Mirae Asset Capital.  CryptoQuant stated that it would focus…

Yesterday, the price of Bitcoin dropped below $40,000 despite the positive news that has been flocking the crypto space. Jack Dorsey even made an announcement teasing that he would make a bitcoin payment plan. However, despite the opportunity to buy that the dip has provided for buying, bulls are hesitant to do so. On the other hand, long-term holders continue to accumulate. Why the Price Dropped The price of Bitcoin has not recovered despite continuing claims that Wall Street banking…