Author: dfmines

Bitcoin is moving sideways in lower timeframes as the crypto markets continue to run without a clear direction. The first cryptocurrency by market cap trades at $47,837 with a 1.2% loss in the daily chart. BTC’s price has been moving in a tight range during the week, unable to break above $48,500. Data from Santiment suggest an increase in the amount of BTC’s supply exchanging hands since the beginning of September. This suggests that investors could be taking more profits as Bitcoin tries to take previous highs contributing to the bears’ attempts to take over the market. As seen below, the BTC Token Circulation metric can be used to find a correlation between the price action and the amount of supply exchanging moving on the network. The firm said: Bitcoin now sits at $48.1k following a volatile couple of weeks to open September. Notably, the amount of unique tokens moving on the $BTC network, known as token circulation, is up big. Wednesday saw 187.91 unique coins moved, the most since July 29. For Analyst Justin Bennet, BTC’s price broke its upward trend during last week’s selloff. In that sense, the analyst found similarities between this event with May’s price action, when Bitcoin experience the first of several capitulation events. Related Reading | Bitcoin Suffers As Mid Caps Cryptos Establish Market Dominance With Wide Margin The $48,000 to $50,000 region is critical for the bulls, if BTC’s price managed to take over the latter, Bennet expects a resume of the bullish momentum. Otherwise, Bitcoin is at risk of returning to the $40,000 lows. The analyst said: Until then (BTC back to $50,000), I’ll continue to believe that this week is a corrective move before the next selloff toward $40,000. It’s the same pattern as late April and early May. A Turbulent Week For Bitcoin And The Crypto Market In addition to the increase in profit-taking by investors, the current week has seen some hurdles in prominent crypto projects and crypto-based companies. In addition to the threat of legal action from the Securities and Exchange Commission (SEC) to Coinbase, Tether had to clarified rumors about the assets backing USDT. Related Reading | Bitcoin Price “Pitchfork Channel” Could Pin-Point The Last Dip Ever On the other hand, a report by QCP Capital records a “quiet week” in the derivatives sectors. As seen below, funding rates for perpetual swaps have been returning to neutral levels after going negative on September 7th. With that in mind, QCP expects the current period of consolidation to continue into the $53,000 range for Bitcoin, at least in the short term. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course By the end of September, BTC’s price could increase its levels of volatility due to the “massive end-month expiry” in BTC options, as seen below. In addition to that, QCP Capital believes Q4, 2021, could bring more macro uncertainty into the market.

On-chain data shows Bitcoin whales haven’t budged despite the recent dips, and are rather continuing to accumulate more. Whales Continue To Accumulate More Bitcoin As pointed out by a CryptoQuant post, the Bitcoin sum coin age (SCA) indicator has been going up, showing long-term holders are continuing to accumulate. The SCA is a BTC metric that tells us about the distribution of long-term holders. It’s calculated by taking the product of the UTxO (Unspent Transaction Output) alive days and the UTxO value. The “age” of a coin is measured in “coin days.” When a certain amount of BTC remains unspent for a day, it accumulates some fraction of a “coin day.” One whole Bitcoin remaining unspent accumulates one coin day. Similarly, if half a coin remains unspent for a day, it picks up half (0.5) a coin day. With the help of the indicator, it becomes possible to tell what the sentiment among long-term holders is. A dip in the metric’s value would suggest that whales have started moving their coins, while an increase would imply they are continuing their accumulation. Now, here is a chart that highlights the trend of the SCA vs the BTC price: The Bitcoin SCA seems to be climbing straight up | Source: CryptoQuant As you can see in the above chart, the SCA had a minor dip late July, but since then the indicator has been going up in a straight line. Related Reading | Bitcoin Transaction Fees Hit One-Year Lows, How Does This Affect The Price? The dip occurred when the BTC price made a peak, implying some long-term holders decided to sell their coins and take the profits. However, these holders were in the minority as most of the whales still held fort and continued to accumulate, creating the recent straight line trend. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Also, as the graph shows, the recent crash in BTC’s price from above $50k to as low as $43k wasn’t enough to make these whales budge from their positions. The trend shows that these investors believe the price will appreciate further, and thus they continue their accumulation. BTC Price At the time of writing, Bitcoin’s price floats around $47.5k, up 1% in the last 7 days. Over the past month, the crypto has accumulated 4% in gains. The below chart shows the trend in the price of the coin over the last five days: BTC’s price seems to be moving down right now | Source: BTCUSD on TradingView After continuing some strong upwards movement over the past few days, Bitcoin looks to be heading down now. It’s unclear if this trajectory would hold, but considering that the famous golden cross has appeared, the market may be bullish.

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A cross-chain bridge to Arbitrum, protocol upgrades and a steady surge in network activity back REN’s 340% rebound off its July 20 swing low.

My buddy has Etherum om Crypto.com and want to withdraw in cash. I have Binance card and Crypto.com visa card. How would it be cheapest for him to transfer me Etherum? submitted by /u/Full-Explanation6833 [link] [comments]

While the dogecoin’s token price has floundered during the last seven days, the meme-coin’s rival shiba inu (SHIB) has moved up the ranks in terms of weekly gains. Dogecoin has shed 5.8% during the last week, but shiba inu has spiked 21.3% during the course of the week and 21.1% in the last 24 hours. […]

Firstly, here is the prediction tweet that literally told what will happen to Solana days before it happened: ​ Solana Daamp I spent more time researching about smart contracts on Solana and this is what I found: For fast execution of smart contracts with complex conditions, it appears the solution on Solana is to parallelize…
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In order to celebrate web3, we started a "decentralized website of the week" award. https://twitter.com/e_steroids/status/1438563549954158594 Every week four of the decentralized websites which were created or updated in the previous 7 days compete for the award. This week is the third time the competition takes place. Please come and vote, let's reward the web3 pioneers!…
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