Hodlers

On-chain data shows that Bitcoin long-term holders have potentially been selling recently, something that may explain BTC’s continued bearish momentum. Bitcoin Exchange Inflow CDD Has Registered Huge Spikes Recently As an analyst in a CryptoQuant Quicktake post explained, old cryptocurrency tokens have recently been deposited in large quantities in centralized exchanges. The on-chain metric of interest here is the “Exchange Inflow Coin Days Destroyed (CDD).” A “coin day” refers to a quantity that 1 BTC accumulates after staying dormant on…

The current state of the Bitcoin market offers a mix of optimism and caution for investors. Over 87% of Bitcoin holders are in profit, with their investments valued higher than their initial purchase prices. On average, these investors are seeing unrealized gains of 120%, a significant figure that reflects the substantial rally that pushed Bitcoin to its all-time high in March, according to Glassnode data. However, despite these gains, the market exhibits both encouraging long-term trends and some short-term uncertainties…

Ethereum is under pressure at press time, tumbling roughly 15% from March 2024. As sellers press on, reversing all gains posted from May 20, on-chain data points to a bullish picture. Ethereum HODLers Scoop 298,000 ETH In 24 Hours Taking to X, one analyst notes a spike in ETH demand, especially from permanent holders. Most likely, these permanent holders are institutions with deeper pockets and are willing to hang on. Unlike retailers, these entities can often choose to hold for…

The popular bitcoin perma-bear Peter Schiff has carried out another verbal attack on X during the most recent price correction that drove the asset to a multi-day low of around $63,000. Schiff, known for his support and admiration for gold, believes BTC’s price could plummet even more if it breaks below $60,000. Not Looking Good? Although the fourth halving took place less than a week ago, an event typically related to the start of another bull run, many crypto experts,…

XRP, the native token of Ripple, has become a hot topic in the crypto market, not for its recent price surge, but for its lack thereof. Despite a booming market that saw Bitcoin and Ethereum climb significantly, XRP remains stagnant, raising concerns among investors. However, a recent prediction by Andrew Forte, a crypto strategist, has reignited discussions about XRP’s potential, with a target of a staggering $100 per token by 2037. Will XRP Hit $100? While Forte’s prediction is certainly…

The crypto market is currently in one of its biggest meltdowns in history. Bitcoin lost more than half of its value after hitting an all-time high of around $63,000 in May 2021. Its price slump has further been compounded by China's continued FUD leading to market uncertainty and scaring away investors. The ripple effect of the Bitcoin price plunge has been felt across the cryptocurrency market. Major altcoins including Ethereum, BNB, DOGE, ADA all lost between 7 to 22% of…