Author: dfmines

Key points:Bitcoin exchange 100-day average netflows are at their most negative since the start of the current bull market in 2023.Exchange balances continue to plumb new multiyear lows.Whales are particularly active buyers this month, while retail shows classic “panic selling.”Bitcoin (BTC) exchanges are evoking the end of the 2022 crypto bear market as user inflows dry up this year.Data from onchain analytics platform CryptoQuant reveals exchanges’ average net flows hitting two-year records.Bitcoin analysis eyes “reaccumulation of assets”Bitcoin may be trading significantly higher than at the start of 2023, but demand for BTC among exchange users is reminiscent of the start of a bull market.CryptoQuant reveals that the 100-day simple moving average (SMA) of exchange net flows recently hit its most negative figure in two years.“This essentially indicates the highest Bitcoin outflow from exchanges since that date,” contributor CryptoOnChain commented in one of its “Quicktake” blog posts on April 23. “A review of historical patterns suggests that this could imply re-accumulation of assets by investors.”Bitcoin exchange netflow 100-day SMA. Source: CryptoQuantA negative net flow tally indicates outflows from exchange surpassing inflows, reflecting more user demand than a desire to send BTC to exchange accounts for a potential sale.As Cointelegraph reported, overall exchange BTC balances are at their lowest in many years.CryptoQuant shows reserves hitting 2.535 million BTC in early April, down over 7% from 2.740 million BTC at the start of the year.Bitcoin exchange reserve. Source: CryptoQuantWhales buy while retail exitsElsewhere, larger Bitcoin entities have added to their portion of the supply throughout April — even as smaller retail investors sell.Related: Bitcoin ETF inflows top 500 times 2025 average in ‘significant deviation’“Whales (1k-10k balance) have been accumulating hard since March, even as price slid,” crypto analyst Miles Deutscher noted on X this week alongside CryptoQuant data. “Every time prices drop, whales accumulate into retail panic selling.”Bitcoin 1K BTC+ balance data. Source: Miles Deutscher/XResearch firm Santiment drew similar conclusions about entities holding at least 10 BTC, which it referred to as “key stakeholders.”“Bitcoin’s key stakeholders comprised of wallets holding between 10 & 10K BTC currently hold 67.77% of the entire supply of crypto’s top market cap asset,” an X post reported. “During the April volatility, these wallets continue to accumulate, and have now added over 53.6K BTC since March 22nd.”Bitcoin 10 BTC+ balance data. Source: Santiment/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This week’s market recovery has seen Bitcoin (BTC) surge over 10% to retest a key barrier for the first time in weeks. Amid this performance, some analysts suggest that the flagship crypto is about to restart its bullish rally, while others consider that holding key levels will determine BTC’s next step. Related Reading: Cardano Breakout Eyes $0.80 Resistance – Is ADA Repeating Its ATH Playbook? Bitcoin Reclaims Its ‘Ultimate’ Level To Break Bitcoin has recovered from its early April sub-$80,000 correction after surging 11% in the past week. On Friday, the largest crypto by market capitalization reclaimed the $85,000 barrier, which has served as a key barrier since late March. Since Friday, BTC has climbed several key levels, breaking above the $90,000 resistance on Tuesday and holding it for the past 24 hours. Analyst Daan Crypto Trades pointed out that Bitcoin has a “solid breakout back into the previous range and above the Daily 200MA/EMA.” Notably, the cryptocurrency has been trading within a significant area over the past weeks, as it has been retesting its multi-month downtrend line and the Daily 200 Exponential Moving Average (EMA) and Moving Average (MA). After the Thursday pump that kickstarted the ongoing recovery, Bitcoin broke out of its four-month downtrend. The cryptocurrency bounced from the Daily 200EMA to shortly consolidate below the Daily 200MA before breaking above this level yesterday. This sent the cryptocurrency toward the bull’s “ultimate level to break,” the $90,000-$91,000 range. However, the analyst suggested that Bitcoin must keep holding that region to confirm the breakout isn’t “just a liquidity grab to fall back down below.” Moreover, he also stated that BTC’s daily closes should stay above these levels “ideally,” and that “some consolidation up here to regain fuel and attempt higher would be perfect” for a rally continuation. Ali Martinez also highlighted BTC’s price performance, which is trading near its yearly opening of $93,500. The analyst asserted that this level was a strong support throughout the post-election breakout but noted that it “could now flip into key resistance” if it isn’t reclaimed. Analysts Eye BTC’s Weekly Close Crypto Jelle called the $93,500 resistance the bear’s “last line of defense,” stating that once BTC recovers that level, “all bets are off.” Meanwhile, Rekt Capital noted that Bitcoin has been “rallying in an effort to resynchronize with its former ReAccumulation Range and confirm the end of its first Price Discovery Correction.” He highlighted that after yesterday’s performance, BTC is near the end of its downside deviation, affirming that the cryptocurrency needs to stabilize above the $93,500 level. To achieve this, Bitcoin needs a weekly close above this crucial level and reclaim it as a new support. He also highlighted that it is repeating its mid-2021 price performance “fantastically well.” Related Reading: Ethereum Attempts Breakout From Multi-Month Downtrend, But Can ETH Hold $1,600? The analyst previously explained that in 2021, Bitcoin consolidated between the two biggest bull market Exponential Moving Averages (EMAs), the 21-week and 50-week EMAs, before breaking out from the triangular structure and resuming its rally. Now, BTC is breaking out from the range formed by the two Bull Market EMAs, which “wasn’t just anticipated back in mid-2021 as it was happening but also in this cycle as well.” Rekt Capital concluded that a Weekly Close above $87,000 “will position BTC for a confirmed breakout.” As of this writing, Bitcoin trades at $93,459, an 8.2% surge in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Shaquille O’Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.The settlement amount remains confidential, with terms expected to be disclosed after investors formally request preliminary court approval, according to court documents.O’Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investor losses by endorsing the now-bankrupt exchange.Source: Court ListenerThe case is part of a broader multidistrict litigation effort, where investors are seeking up to $21 billion in damages from FTX insiders, advisers and promoters, far exceeding the $9.2 billion available through bankruptcy proceedings.Other celebrities embroiled in similar legal troubles for their roles in FTX include NFL quarterback Tom Brady, supermodel Gisele Bündchen, billionaire investor Kevin O’Leary, former NBA player Udonis Haslem, David Ortiz, Naomi Osaka and others. Notably, FTX investors faced challenges in serving O’Neal with legal papers during the early stages of the lawsuit over his promotion of the collapsed exchange.Lawyers representing the victims described O’Neal as “running from the lawsuit,” after multiple failed attempts to deliver court documents. Legal teams reportedly spent months trying to reach the NBA legend, resorting to creative methods, including attempting service during NBA games and at his residences. Related: FTX former execs and promoters to settle class-action lawsuit for $1.3MO’Neal finalizes $11 million settlement over Astrals NFT projectThe settlement with FTX investors comes as O’Neal recently agreed to pay $11 million to resolve a class-action lawsuit tied to his involvement in the Solana-based Astrals NFT project.In May 2023, O’Neal was served with the Astral NFT lawsuit during an NBA game at Miami’s Kaseya Center, formerly the FTX Arena. The class-action lawsuit involved his promotion of the Astrals NFT project, alleging that the NFTs promoted by O’Neal were unregistered securities.In August 2024, a Miami federal court judge ruled that O’Neal would need to defend some of the claims brought against him in the case. Astrals is a Solana-based project featuring 10,000 NFTs, a metaverse called Astralworld and a decentralized autonomous organization (DAO) with a governance token called Galaxy.Magazine: Ethereum maxis should become ‘assholes’ to win TradFi tokenization race

JPMorgan analysts said that gold could extend its bull market through 2026, with the price of a troy ounce of the metal reaching $4,000, supported by the current trade war climate and ongoing demand from investors and central banks. JPMorgan Believes Gold May Touch $4,000 an Ounce in 2026 Gold keeps making headlines in one […]

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Riot Platforms, Inc. (NASDAQ: RIOT) has announced a $100 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. (NASDAQ: COIN). This multiple drawdown term loan facility will be available to Riot over a two-month period following the execution date. The company plans to utilize the proceeds for key strategic initiatives and […]

The Bitcoin market appears to have resumed its upward momentum, with BTC’s price trading above the psychological $90,000 level as it reclaims major highs. As of today, BTC has been able to surge as high as $94,32 before now retracing to a current price of $93,473, marking a 3.1% increase in the past day. A deeper look into market behavior reveals that activity on Binance, one of the leading crypto exchanges by volume, may be playing an outsized role in shaping Bitcoin’s short-term price direction. Particularly, a CryptoQuant analyst has noted an uptick in aggressive market buying behavior, where participants are executing immediate purchase orders rather than passively waiting in the order book. This form of execution, often tied to increased market conviction, has become more pronounced on Binance and may help explain Bitcoin’s recent surge. Related Reading: Bitcoin Rally Ahead? Analysts Say These Key Indicators Look Bullish Binance Taker Activity Suggests Buyers Are Leading the Market According to CryptoQuant analyst Crazzyblockk, a significant rise in the taker buy/sell ratio on Binance has been observed, signaling a surge in aggressive buy-side activity. Over the past 30 days, the ratio has increased by 18.9%, while the 7-day ratio has climbed 6.2%. These figures suggest that traders on Binance are entering the market with urgency, placing market buy orders to immediately match sell offers, often a sign of growing buyer confidence. This activity highlights Binance’s growing role in short-term price discovery. When taker-driven momentum is concentrated on a single exchange, it can shape wider market direction through spillover effects. The analyst wrote: The taker buy/sell ratio isn’t just a reflection of who’s buying or selling—it’s a real-time indicator of conviction and pressure, and right now, it’s telling a clear story: buyers are in control, and Binance is the arena where that dominance is playing out most decisively. For those tracking market structure and looking for early signals of momentum, this is a metric that should not be overlooked. Bitcoin Funding Rates Reflect Trader Disbelief Despite Price Gains While order book data shows rising buy-side activity, Bitcoin derivatives metrics tell a different story. In a separate analysis, CryptoQuant analyst Darkfost pointed out that funding rates on Binance have turned negative, currently sitting at approximately -0.006. This metric, which reflects the cost of holding long versus short positions in perpetual futures contracts, typically turns negative when short positions are more crowded than longs, indicating that many traders expect a price decline. Related Reading: Bitcoin Sees Several Bullish Signals But Short-Term Holders Still Struggle Darkfost noted that this disconnect between rising spot prices and negative funding rates mirrors past instances where Bitcoin later experienced extended rallies. Specifically, similar setups occurred in October 2023 and September 2024, both of which preceded sharp price increases. If historical patterns hold, the current level of skepticism in the derivatives market may contribute to further upside, as short-sellers may eventually be forced to unwind positions. Featured image created with DALL-E, Chart from TradingView

Hello, using DeFi (mainly on L2 like Base but I assume it's the same on Ethereum), I noticed some protocols allow me to only "sign" a message (with no cost) to allow spending a token, while other require to sign a transaction (that has gas fees). Could anyone explain the difference between those two spending…
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