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Bitcoin exchange reserves drop to lowest levels in years: CryptoQuant

Bitcoin exchange reserves have hit a multi-year low as investors shift to long-term holdings, while recent price drops led to significant trader liquidations.

theblock.co • 03/12/2024 - 15:01 PM

CRYPTO MOVERS ECONOMIC INDICATORS EQUITY MOVERS RATE DECISIONS

Bitcoin price drops as profit taking and significant sell wall hinders rally, analyst says

Bitcoin is facing resistance near the $100,000 mark due to profit-taking and a stack of sell orders worth $384 million, an analyst said.

theblock.co • 02/12/2024 - 12:45 PM

CRYPTO MOVERS

Hyperliquid's HYPE surpasses Aave in market cap, claims nearly half of decentralized perpetual swaps volume

Hyperliquid, the decentralized perpetual swap trading platform that recently airdropped 310 million fully unlocked tokens to users who earned points by trading on the platform, has seen its HYPE token surge in price, flipping lending platform Aave in market capitalization. The platform has also risen to claim nearly half of all perpetual swaps trading volume, according to data from The Block.

theblock.co • 01/12/2024 - 21:47 PM

CRYPTO MOVERS

Ripple's market cap overtakes Solana's as XRP becomes fourth most valuable crypto token

Following its notable surge in price, Ripple’s XRP has become the fourth-largest crypto token by market capitalization, overtaking rivals Solana and BNB. XRP is currently trading at its highest price since early 2018 following its breakout above $2. The surge comes amid SEC Chair Gary Gensler’s announcement that he will depart the agency, which has engaged in a long-running legal battle with Ripple.

theblock.co • 01/12/2024 - 20:06 PM

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Bitwise analyst cautions dollar strength could hinder bitcoin breakout, despite it nearing $100,000

Despite bitcoin rebounding above $98,000, a strengthening U.S. dollar could pose a headwind for further gains, an analyst said. Expectations of a more hawkish Bank of Japan move increases risk of a yen carry trade unwind, which puts further volatility for risk assets, they said.

theblock.co • 29/11/2024 - 15:28 PM

CRYPTO MOVERS

HyperLiquid airdrops over $1.2 billion worth of tokens to users as HYPE crosses $4 billion FDV

HYPE, HyperLiquid’s native token, has surged over 11% since its launch to $4.2, driving its FDV to $4.2 billion. This follows today’s token genesis event and an airdrop distribution to early users.

theblock.co • 29/11/2024 - 11:56 AM

CRYPTO MOVERS EQUITY MOVERS

Trump win fuels bitcoin derivatives boom as futures open interest surges over $60 billion

Bitcoin futures open interest has surged since Donald Trump’s election win. Bitfinex analysts observe this as “organic growth,” dismissing fears of a correction despite increased leverage.

theblock.co • 28/11/2024 - 16:31 PM

CRYPTO MOVERS ECONOMIC INDICATORS

Analysts claim crypto capital rotation is driving Ethereum, Cardano and Solana gains

Capital is flowing out of Bitcoin and into altcoins, according to QCP Capital analysts — with Ethereum, Cardano, and Solana seeing gains of 5%, 9%, and 4%, respectively, in the past 24 hours. Bitcoin’s increase was more modest at 1.5%. The shift in market sentiment is highlighted by a 13% jump in the ETH/BTC ratio, which has recovered from a low of 0.0318 last Thursday to 0.0371 today.

theblock.co • 27/11/2024 - 15:31 PM

CRYPTO MOVERS ECONOMIC INDICATORS RATE DECISIONS

Bitcoin pulls back as reduced US Treasury term premium weighs on sentiment, says Standard Chartered analyst

Bitcoin’s price has declined by over 3% in the past 24 hours. According to Standard Chartered’s Geoff Kendrick, bitcoin’s price decline from its recent all-time high can be attributed to shifts in U.S. Treasury markets, which could temporarily weaken its appeal as a hedge.

theblock.co • 26/11/2024 - 16:07 PM

CRYPTO MOVERS

Crypto derivatives market turns cautious ahead of FOMC minutes and PCE data, analysts say

Ethereum and Bitcoin options traders are showing caution ahead of the release of FOMC minutes and Wednesday’s U.S. PCE data, analysts say. Traders will be closely monitoring this week’s economic data releases for signals on inflation progress and the likelihood of another rate cut in December.

theblock.co • 26/11/2024 - 11:55 AM

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