on 10 March, BTC’s price has risen by over 45%. With many expecting the coin to claim the $30,000 price mark, positive sentiment drives the market.According to Galaxy, BTC’s correlation with the traditional equities market has dwindled since the bank crisis began. Interestingly, during the same period, its correlation to goldLargely, this is a positive thing for BTC, as gold is often viewed as a safe-haven asset.
, while the coin’s annualized volatility surged at the break of SVIB’s collapse, it has since been slightly stable.The increase in the percentage of BTC’s total supply held in profit may be a factor contributing to growing optimism among BTC holders in recent weeks. Galaxy, in its report, found that BTC’s current supply held in profit sat at 75%, the highest since April 2022.A significant portion of supply was acquired in the $15.
“A large number of addresses have exclusively received Bitcoin – they have never spent. The number of so-called “accumulation addresses” has spiked in the last month.” Lastly, BTC’s supply on exchanges has declined steadily during the period under review. Galaxy found that BTC balances held in addresses on cryptocurrency exchanges have dropped to their lowest level since March 2018. A decline in exchange reserves is a bullish sign, suggesting that fewer coin sell-offs are taking place.Subscribe to get it daily in your inbox.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adam Cochran calls Balaji’s $1m Bitcoin [BTC] target ‘impossible’: Here’s whyCrypto analyst Adam Cochran believes that Balaji Srinivasan’s $1 million Bitcoin bet is unlikely to succeed. Cochran argued that the catalyst required to pump BTC 3600% is unlikely to occur in the next 90 days. Popular crypto analyst Adam Cochran recently took to Twitter to share his disagreement with former Coinbase exec Balaji Srinivasan’s bold […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Assessing Bitcoin’s hashrate and network difficulty as BTC dropsBitcoin’s hashrate and network difficulty could increase from their ATHs. Miners’ fees have improved, but total revenue remained underwater at press time. Bitcoin’s [BTC] Year-To-Date (YTD) performance of over 70% has been one of the best in its history, considering the number of months it took to reach the landmark. But unbeknownst to many, the […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin [BTC] holders cheer the bull run, but is there more to the story?Bitcoin’s recent bull run generates profits for long and short-term investors. A spike in interest and high MVRV ratio could impact BTC’s price. The recent bull run in the crypto space has brought all eyes to Bitcoin [BTC], with its soaring prices generating profits for both long-term and short-term investors. According to new data provided […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin [BTC] breaks free: Will recent spike leave bear market behindBTC’s price has jumped by over 30% in the last week. On-chain data brought up the coin’s exit from bear market territory. Exchanging hands at $27,524 per coin at press time, Bitcoin [BTC] ended last week’s trading session with an impressive 35.8% increase in value, causing it to rally out of the deep bear market […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Analyzing Bitcoin’s [BTC] unprecedented rally and market reactionBTC has experienced an unprecedented rally, with the crypto market following suit to a large extent. Traders’ reactions have, however, been mixed, with rising negative sentiment and modest improvements in funding rates. Bitcoin [BTC] has been on an unprecedented upward trajectory recently, and the entire crypto market has followed suit, or at least to a […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin [BTC] miners see green: Will there be a relief in selling pressureBitcoin miners are seeing profits due to increased BTC prices and decreased transaction costs. Retail interest is high, but the influence of BTC whales could lead to price volatility. In the latter half of 2022, many Bitcoin [BTC] miners were facing the heat as the king coin’s prices kept decreasing. The costs of energy and […]
Source: CryptoAmb - 🏆 22. / 68 Read more »