Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Bitcoin Bullish Signal: Exchange Outflows Spike Up

On-chain data shows the Bitcoin exchange outflows have spiked up recently, a sign that could prove to be bullish for the crypto’s price. Bitcoin Exchange Netflow Has Observed Deep Red Values In Recent Days As pointed out by an analyst in a CryptoQuant post, investors have withdrawn more than 60k BTC from exchanges recently. The relevant indicator here is the “all exchanges netflow,” which measures the net amount of Bitcoin entering or exiting wallets of all centralized exchanges. The metric’s value is simply calculated by taking the difference between the inflows and the outflows. When the value of this indicator is greater than zero, it means there are more inflows taking place in the market than outflows. Such a trend, when prolonged, can be bearish for the price of the crypto as it may be a sign of dumping from investors. Related Reading: Why Most Public Bitcoin Miners Have Performed Terribly In Their Lifetimes On the other hand, negative values of the netflow suggest investors are taking out a net number of coins right now. This kind of trend can indicate buying pressure in the market, and hence could be bullish for BTC’s value. Now, here is a chart that shows the trend in the Bitcoin all exchanges netflow over the last month: The value of the metric seems to have been below zero in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin all exchanges netflow has observed some negative spikes during the last three days. These downward surges in the indicator’s value have amounted to more than 61k BTC leaving exchange wallets, the largest stack of withdrawals in months. Related Reading: Secure Your Crypto Portfolio Today: Oryen (ORY), Bitcoin (BTC), and Ethereum Classic (ETC) The crypto’s price has been struggling hard for many months now, so this kind of fresh demand could be constructive for the coin, and help it turn things around, at least temporarily. BTC Price At the time of writing, Bitcoin’s price floats around $19.1k, up 1% in the last seven days. Over the past month, the crypto has lost 5% in value. Below is a chart that shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has been mostly trending sideways during the last few days | Source: BTCUSD on TradingView Bitcoin hasn’t seen much price activity at all recently as the value of the crypto has been painting a flat curve. One exception was the surge to $20k a couple of days back, but it wasn’t long before the spike died down and BTC returned to its trend of consolidation. Featured image from Dylan Leagh on unsplash.com, charts from TradingView.com, CryptoQuant.com

NFTs Are Dead: OpenSea NFT Volume Drops 99% and Stays for Entire Month

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

Binance Coin (BNB) Bulls Defends Key Zone, Will The Give Up?

BNB price creates mixed feelings on the high timeframe as price forms a descending triangle on the daily chart while an ascending triangle forms on the weekly chart.  BNB looks more stable as the price aims to flip the $340 resistance to set up a bullish sentiment.   The price action of the Binance Coin (BNB) continues to look strong despite the price forming a bilateral chart pattern on the daily and weekly timeframe. Surprisingly Bitcoin (BTC) movement in a range has had little effect on the price of Binance Coin (BNB), with BNB creating more hope of a better price moment in October. (Data from Binance) Related Reading: Crypto Community Predicts Polygon (MATIC) To Rise Nearly 20% By October 31 Binance Coin (BNB) Price Analysis On The Weekly Chart Despite showing a great price movement in recent weeks as the price rallied to a high of $337 before facing rejection, the price of BNB has handled the rejection pretty well as price bounced from a weekly low of $270 to a region of $283 as price holds up the key region. The price of BNB retraced to a region of $270 after a rejection that affected the price from trending higher, coupled with the news from Consumer Price Index (CPI) and Federal Open Market Committee (FOMC) having a negative impact. BNB price so far has handled the reactions very well over the weeks, with the price looking more decent in price action.  BNB’s price needs to break and hold above $350 for the price to rally to a higher region with more bullish sentiments. Weekly resistance for the price of BNB – $337. Weekly support for the price of BNB – $270. Price Analysis Of BNB On The Daily (1D) Chart In the daily timeframe, the price of BNB continues to trade below key resistance as the price attempts to break above higher heights, with the price being rejected on several attempts. BNB bulls have had a hard fight trying to defend falling off the $270 region as this price holds the key to a rally in an attempt to break the resistance holding off the price from going higher. BNB’s price continues to increase as it forms an ascending triangle with a breakout that could signal a relief rally. The price of BNB trades at $280 above the 50 Exponential Moving Average (EMA). The prices of $282 correspond to the price at 50 EMA for BNB on the daily timeframe.  A break and close above $350 could see the price of BNB assume some bullish sentiment in October as many traders and investors anticipate a green October, which could spell a rally to a region of $400 or higher. Daily resistance for the BNB price – $300-$340. Daily support for the BNB price – $270. Related Reading: Shiba Inu Fanbase Awaits Eternity Download Event – Will It Boost SHIB Price? Featured Image From Coingape, Charts From Tradingview

Report: CME Group to Face off With FTX After Filing for Futures Commission Merchant Status

According to a recent report, the world’s largest derivatives exchange CME Group is looking to register as a direct futures commission merchant (FCM). CME Group’s decision follows the digital currency exchange FTX, as the crypto company applied to become a derivative clearing organization and awaits approval from the U.S. Commodity Futures Trading Commission (CFTC). If […]

Celsius Network founder withdrew $10mn ahead of bankruptcy

submitted by /u/SakuraNinja12 [link] [comments]

How much blockspace is still not used?

Hi all. A question has came into my mind: 1 ETH = 1 blockspace, right? There are about 120 milions ETH, and this roughy number in the future might increase or decrease extremely little, due to the merge. So how much of the ethereum blockspace has already been used and how much is still left…
Read more

DCA’ing monthly into large-cap cryptos (September 2022/Month 4 update) -0.09%

​ https://preview.redd.it/mru6foj0bfr91.png?width=960&format=png&auto=webp&s=59a0ad44c672ca09073381c00561aca06980b799 See the real-time analysis of this portfolio at https://degenomic.com TL;DR What is this thing? After blowing a few accounts on terrible single-name crypto choices, this portfolio/project was set up to see if DCA'ing emotionlessly would prove a profitable strategy over the long run. How's it performing? At the end of month 4, the…
Read more

Chainlink (LINK): Big part of crypto’s future

Hi all, recently I read a comment about LINK that prompted me to do my own research about LINK. I was surprised and started my own bag as a result. Chainlink is a decentralized oracle network. Chainlink uses open-source blockchain tech in order to make computations on and off chain securely, supporting ‘hybrid smart contracts.’…
Read more