Author: dfmines

submitted by /u/diwalost [link] [comments]

Welcome to today’s Daily General Discussion! Please use this thread to discuss Ethereum topics, news, events, and even price! Yes, we are trying something new and will allow price discussion, but only in this thread! Price discussion posted elsewhere in the subreddit will continue to be removed. As always, keep it friendly and follow the…
Read more

Last week, Bitcoin saw consistent upward momentum, leading to the asset breaching multiple resistances to achieve a peak of $93,477 finally. However, ever since, BTC has seen a price decrease and appears to maintain stability above $90,000 while showing signs of controlled market sentiment. Amid this price performance, a CryptoQuant analyst known as G a a h recently shared his perspective on Bitcoin’s current market behavior, focusing on an important metric such as the Short-Term Holders Spent Output Profit Ratio (STH SOPR) to reveal whether the asset still has more room for growth. Related Reading: Bitcoin Exchange Reserves Hit 5-Year Low—What Does This Signal? What The STH SOPR Metric Suggest For Bitcoin The Short-Term Holders Spent Output Profit Ratio metric, which tracks the profitability of Bitcoin held by short-term holders, has revealed a trend of moderate optimism in the market, according to G a a h. The analyst elaborated that unlike past cycles marked by euphoric price spikes, the STH SOPR remains within a “middle region,” far from indicating extreme greed. This suggests that while some investors are taking profits, the current market environment remains stable, with room for further upward movement. The relationship between the SOPR indicator and Bitcoin’s 30-day moving average further emphasizes this point. According to the CryptoQuant analyst, short-term holders take measured profits without overwhelming the market with sell pressure, signaling “healthy growth.” Historical data shows that when the SOPR enters the extreme greed range, Bitcoin often encounters significant market resistance, leading to corrections. Conversely, accumulation tends to occur when the indicator reflects extreme fear, often marking key price bottoms. The analyst’s observations suggest that Bitcoin remains in a transitional growth phase, with investors carefully adjusting their positions as the price trends upward. G a a h wrote: At the moment, the behavior of the SOPR suggests a phase of healthy growth, with moderate optimism. This intermediate position may reflect a market in transition, where investors continue to adjust their positions as the Bitcoin price advances. Key Indicators to Watch in Bitcoin’s Market Behaviour While the SOPR currently suggests a balanced market, as reported by the analyst, he also advised investors to monitor the movements of the indicator closely in the coming weeks. The analyst noted: If it quickly approaches the extreme greed range, it could be a sign of more aggressive profit-taking and a possible trend reversal. G a a h also added that this phase of moderate optimism, if sustained, could create opportunities for continued upside potential, but risk management remains a crucial aspect of navigating this market environment. Related Reading: Binance Dominates As Bitcoin Futures Volume Hits New Peaks Amid Historic Price Rally The CryptoQuant analyst concluded: While the SOPR indicates that the top has not yet been reached, the balance between optimism and caution is key to maximizing gains and protecting capital from high price volatility. Featured image created with DALL-E, Chart from TradingView

Chicago-based Cosmos Health, a publicly traded, vertically integrated global healthcare company, is diving into the crypto space by incorporating digital assets into its treasury reserves. A Publicly Traded Healthcare Firm’s Bold Plan to Add Bitcoin to Its Treasury On Monday, the company announced through a series of press releases issued online that it would follow […]

“The floodgates for Bitcoin’s next evolution in financial markets are about to open,” says Bitcoin custody firm Theya Head of Growth Joe Consorti. 

Binance has clarified its forthcoming BFUSD asset is not a stablecoin as crypto users started freaking out over its promise of high yields.

Kraken won’t get the chance to appeal a California District Court judge’s decision that found the SEC had adequately alleged it sold unregistered securities.

According to “people familiar with the matter” who spilled the beans to the Wall Street Journal (WSJ), Coinbase CEO Brian Armstrong reportedly met with U.S. President-elect Donald Trump on Monday. WSJ reporter Brian Schwartz claims the meeting would be the first since Election Day on Nov. 5 and the two will discuss “personnel appointments for […]