• Bitcoin (BTC) has recently slowed, but some indicators suggest that it may be on the verge of a significant upside as investors return to the market.
• Exchange Traded Funds (ETFs) have seen an increase in their holdings, and the number of addresses holding 0.1+ coins has hit an all-time high.
• Market sentiment has changed since the beginning of 2023, as retail and wealthy investors fuel BTC’s rally.

Bitcoin Price Action Slows But Market Sentiment Rises

Bitcoin (BTC) has recently experienced a slowdown in price action and relied on previously recovered support areas to continue its uptrend since the beginning of the year. Despite this, there is increasing expectation that BTC will break into new levels and reach yearly highs due to changes in market sentiment.

Exchange Traded Funds Increase Holdings

According to a report from ByteTree, Exchange Traded Funds (ETFs) have seen a sharp increase in their holdings with three different ETFs adding over 1,465 Bitcoins this month. This indicates that investor interest is returning to the cryptocurrency market despite crises like bankruptcy cases and feuds between exchanges.

Retail Investors Fuel Bitcoin Rally

The number of addresses holding Bitcoin has grown significantly over the past month with 4,217,261 addresses holding 0.1+ coins – an all-time high according to Glassnode data. This shows that both retail and wealthy investors are contributing to BTC’s rally by accumulating large amounts of coins before taking off again towards reclaiming its previous highs.

Awaiting A Bull Run?

The recent rise in market sentiment suggests that after months of accumulation and sideways price action, Bitcoin may be ready for another bull run fueled by optimism amongst investors who are betting big on cryptocurrencies once more.

Conclusion

Bitcoin’s recent slowdown in price action could indicate that it is gearing up for another bull run as investor confidence continues to build across the crypto industry thanks to increased holdings by ETFs and increased activity from both retail and wealthy investors accumulating large amounts of coins before taking off again towards reclaiming its previous highs.

• Ethereum price has seen a rise of 6% over the past week and has broken past the $1,500 price level.
• The technical outlook of the coin has been pointing towards continued bullishness on the chart.
• Immediate resistance for the coin stands at $1,690, with a possible move above $1,700 likely.

The world of cryptocurrencies has been seeing a tremendous surge in prices, particularly in the last few weeks. Bitcoin, the world’s largest cryptocurrency, recently crossed the $20,000 mark, leading to an increased interest in the other digital assets as well. Ethereum, the second-largest cryptocurrency by market capitalization, has been propelling itself considerably ever since Bitcoin crossed the $20,000 price mark. Over the last 24 hours, ETH has slightly moved down on its chart, depicting consolidated price action.

The past week has been quite a profitable one for Ethereum as it helped the Ethereum price move up by 6%. The coin finally managed to break past its consolidation at the $1,500 price level and has been moving north ever since. The technical outlook of the coin has pointed towards continued bullishness on the chart, with accumulation increasing substantially ever since Ethereum breached the $1,500 price level.

However, the chance of a price reversal cannot be ruled out just yet, as ETH was overbought and overvalued. Currently, Ethereum has secured $1,600 as the support level. The next price correction could help traders with buying opportunities, but it’s likely that Ethereum’s price might continue on the upside before the coin retraces. The market capitalization of Ethereum increased, which also reflected that the buying sentiment remained high.

As of now, Ethereum is exchanging hands at $1,620 on the one-day chart. Immediate resistance for the coin stands at $1,690; it even corresponds to the 50% Fibonacci retracement level. A move above $1,690 will help Ethereum touch the $1,700 price mark. The $1,700 price mark is a crucial area, as touching or breaching this level could be the deciding factor in how the coin fares in the near future.

Overall, Ethereum has seen a lot of positive developments in the past few weeks, and it looks like the coin is here to stay. With the current bullish trend, it’s likely that Ethereum will continue to rise in price over the coming weeks.

• The cryptocurrency market continues to show signs of improvement, with Bitcoin breaking above its 200-day moving average.
• The U.S. Consumer Price Index (CPI) report has given Bitcoin and other cryptocurrencies leverage, as macroeconomic factors such as inflation and deflation affect their prices.
• Analytic platform Santiment has revealed that the number of Bitcoin addresses holding between 100-1000 BTC is increasing rapidly, possibly pushing the Bitcoin rally.

The cryptocurrency market has been showing signs of improvement lately, with Bitcoin, the number one cryptocurrency, breaking above its 200-day moving average. This has been a major milestone for the crypto markets, as the 200-day moving average is an important indicator of a long-term trend. In addition, the market has generally recovered from its crypto winter, as crypto enthusiasts believe the worst is over for the crypto industry.

The U.S. Consumer Price Index (CPI) report has had a major impact on Bitcoin and other cryptocurrencies. The CPI measures the monthly changes in prices paid by United State consumers, and is an important metric used to measure economic inflation and deflation. Events over time have shown that macroeconomic factors such as inflation and deflation have a major effect on Bitcoin and other cryptocurrencies. So when the CPI is high, it usually leads to a spike in interest rates that can cause a decrease in crypto prices. However, the recent CPI report has given Bitcoin and other cryptocurrencies leverage, as it showed a decrease in inflation which could lead to a rally in the crypto markets.

Analytic platform Santiment has revealed that the number of Bitcoin addresses holding between 100-1000 BTC is increasing rapidly. This could be pushing the Bitcoin rally, as the whales are likely investing heavily in the crypto markets. Santiment revealed that more than 416 addresses hold between 100-1000 BTC, which is an increase of 3.04% in the past eight weeks. This shows that the whales are having a major influence in the crypto markets, and their investments could be what is driving the Bitcoin rally.

Overall, the crypto markets are showing signs of improvement and the recent CPI report has given cryptocurrencies leverage. In addition, the whales are likely pushing the Bitcoin rally, as the number of Bitcoin addresses holding between 100-1000 BTC is increasing rapidly. This could be an indication of a strong recovery for the crypto markets and could lead to sustained growth in the future.

• Analyst Smart Contracter has reversed his bearish stance on Bitcoin (BTC), citing the recent impulsive disposition of the asset as a reason for the shift.
• Smart Contracter has predicted that BTC could surge by more than $18,800, using Elliot Wave Theory to support his technical analysis.
• Smart Contracter believes that BTC will display a 5-wave pattern for its primary trend, with the corrective movement following a 3-wave way.

The recent price action of Bitcoin (BTC) has caused many analysts to rethink their previous predictions. One such analyst is Smart Contracter, a pseudonymous trader and analyst who has gained fame due to his accurate projection of Bitcoin’s 2018 bottom six months before the period. Smart Contracter recently took to Twitter to inform his followers of his plan to scrap his bearish bias on the BTC/USD trading pair.

The trader based his decision on the recent Bitcoin price breaking out to a higher range. He noted that due to its impulsive disposition, Bitcoin could outperform other cryptocurrencies in the future. As such, he stated his desire to shift to long positions in his trades once the opportunity presented itself through a breakdown.

To further explain the possible price trend for the leading crypto asset, Smart Contracter provided chart projections. He predicted that Bitcoin would surge by more than $18,800 and used Elliot Wave Theory to support his technical analysis for BTC. According to the analyst, BTC would display a 5-wave pattern for its primary trend, with the corrective movement following a 3-wave way.

The crypto market is still highly volatile, making it difficult to accurately predict the future trend patterns for crypto assets. However, analysts have continued to release projections for most crypto assets. Smart Contracter, who has proven to be accurate in his previous predictions, has now become bullish in his recent predictions. Although it is impossible to know if his predictions will turn out to be accurate, his analysis provides an interesting perspective on the future of Bitcoin.

• Peter L. Brandt, a career commodities trader, believes that Bitcoin is putting in a cycle low.
• Brandt famously called for an 80% decline in BTCUSD in late January 2018.
• He expects Bitcoin to work higher towards late 2023/early to mid 2024 when the ATHs are retested.

Peter L. Brandt, a career commodities trader, has recently made a bold prediction that Bitcoin is currently putting in a cycle low. This prediction has already been met with skepticism, however, given the impressive track record of accuracy with which Brandt has made related to his cryptocurrency bets in the past, there may be more validity to his claims than investors are ready to accept.

In a new TradingView post, currently trending on the charting platform’s editor’s picks section, Brandt states that the cycle lows for the crypto market are taking place “now.” Although he doesn’t directly state that the bottom is already in, he does believe that Bitcoin’s behavior is “predictable” and should see a strong advance after the recent, nearly 80% decline.

It is worth noting that Brandt famously called for an 80% decline in BTCUSD in late January 2018 after the 2017 parabolic advance was violated. This call ended up being eerily accurate, as the price of Bitcoin eventually dropped to just under $4,000 some eleven months later in December of the same year.

In regards to what Brandt expects for Bitcoin in 2023 and beyond, he believes that it won’t “run away to the upside” but will instead “work higher towards late 2023/early to mid 2024 when the ATHs are retested.” He also shared a chart to support this analysis, which shows Bitcoin likely to reach a new all-time high within the next few years.

In conclusion, Peter L. Brandt’s prediction that Bitcoin is putting in a cycle low has met with mixed reactions from the crypto community. While some investors remain skeptical, the accuracy with which Brandt has made related to his cryptocurrency bets in the past suggests that there could be more validity to his claims than meets the eye. Time will tell, however, if his prediction proves to be correct.

• $93 Million Bitcoin Shorts were liquidated in only one hour.
• This is due to sudden price swings in a volatile environment, as well as the ability to access high leverage on derivative exchanges.
• According to data from the on-chain analytics firm Glassnode, total futures liquidations have been increasing.

As Bitcoin continues to make headlines, the crypto market has been abuzz with activity. In the past day, Bitcoin has pushed above the $19,000 mark, and in response to this, the Bitcoin futures market has seen a large amount of shorts liquidated.

According to data from the on-chain analytics firm Glassnode, a total of $93 Million worth of Bitcoin shorts were liquidated in only one hour. A “liquidation” occurs when a derivative exchange is forced to close up a contract on the Bitcoin futures market. This usually takes place when the collateral amount that the holder had to put up in order to open the position is lost due to the BTC price moving opposite to the direction the investor bets on.

The crypto futures market is generally volatile, and this is due to a few reasons. One of the main reasons is that many derivative exchanges offer high leverage as high as 100x in the original position. This high leverage combined with the volatile environment of the crypto market can result in large liquidations taking place at once.

The key metric to look at in this case is the “total futures liquidations”, which shows the total amount of both short and long liquidations that are taking place in the Bitcoin futures market. A chart of this metric over the past few months shows that the value has been steadily increasing.

This recent surge in liquidations is a sign of the bullish sentiment in the crypto market as Bitcoin pushes further and further into new price records. Although the crypto market is still volatile, it appears that investors are feeling confident in the current market conditions.

• XRP saw a spike in trading volume following the upward rally in the crypto market.
• Whale tracking website WhaleStats reported that XRP had become the most traded token among the top 100 BSC whales for the day.
• XRP is still a top 10 token for the largest BSC whales, and its smart contract is one of the top 10 most used smart contracts among them.

The crypto world has been abuzz with news of Ripple’s lawsuit against the Securities and Exchange Commission (SEC). This has resulted in increased market movement, and whales have been taking advantage of it. XRP saw a spike in trading volume on Tuesday, as the crypto market went up. This led to an increase in the price of the digital asset, but what was most interesting was that Binance Smart Chain whales were more interested in XRP.

WhaleStats, a whale tracking website, reported that XRP had become the most traded token among the top 100 BSC whales for the day. This dethroned AAVE which had previously dominated the attention of these large whales. It is still a top 10 token for the largest BSC whales, and its smart contract is one of the top 10 most used smart contracts among them.

Whales have been looking to capitalize on the increased market movement in XRP and to take advantage of the increased attention it has been receiving in the crypto news. This has seen a surge in trading volumes and price, but more importantly, it has also led to more whales entering the XRP market. This could lead to more price volatility and further upside, as these large whales look to capitalize on the current market conditions. Therefore, it is important to pay close attention to XRP, as it could be a great opportunity for investors to make some gains in the near future.

• Large bitcoin whales have started accumulating BTC once more.
• These investors are adding more than 20,000 BTC to their balances.
• This accumulation could have factored into the recent recovery trend of bitcoin.

Bitcoin whales, major investors with large amounts of BTC, have recently started to accumulate more Bitcoin. This comes at a time when the cryptocurrency market is seeing low prices and low momentum.

The recent trend of accumulation was revealed through the on-chain aggregator Santiment, which showed that whales holding between 1,000-10,000 BTC have increased their holdings by over 20,000 BTC in the last five days. This brings the total of BTC held by these whales to 4.57 million BTC, which is around 23.7% of the total circulating BTC supply at this time.

The current accumulation trend is in stark contrast to the recent trend of low activity from these Bitcoin whales. Recently, it was reported that large whale transactions had fallen to only 19% of total Bitcoin transactions, indicating that these investors were no longer as active as before.

However, this new accumulation trend could indicate a more long-term play on the part of these whales, as they are willing to buy Bitcoin at current levels. This suggests that they may believe that the price of the digital asset has hit its bottom, and is now a good time to start investing.

The accumulation of Bitcoin by whales is an interesting development, and it will be interesting to see how it affects the price of Bitcoin over the coming weeks. If the whales continue to accumulate, this could lead to a further increase in the price of Bitcoin, as more investors may be encouraged to make their own investments.

• The Polkadot price has been making gains over the last week in response to Bitcoin’s recovery.
• Despite a 2% dip in the last 24 hours, the technical outlook for DOT remains bullish.
• Buyers need to keep pushing the price beyond the $5 resistance mark to secure further gains.

Polkadot (DOT) has been on the rise in the past week, mirroring Bitcoin’s recovery on the chart. The altcoin has been able to flip a few resistance levels into support levels, creating a bullish market structure for DOT. At the time of writing, the Polkadot price was trading at $4.90, just shy of the crucial $5 resistance mark.

The recent gains in the Polkadot price could be attributed to Bitcoin’s recovery. The leading cryptocurrency has been able to breach the $50,000 mark once again, pushing altcoins to move in the same direction. However, in the past 24 hours, the DOT price noted a slight fall of 2%. This could be attributed to a decrease in demand for the altcoin.

The $5 mark is a crucial resistance point for Polkadot. If buyers are able to push the price beyond this level, DOT will be able to trade higher and reach the $6 level. Accumulation has been on the rise in the past week, with buyers exceeding sellers at press time. This could be a positive sign for DOT, but it is essential that the price surpasses the $5 mark. If the resistance level holds, Polkadot could begin to trade lower, resulting in a decrease in investor interest.

The market structure for DOT remains bullish, with the coin able to break past the $4.80 resistance level. It is now up to buyers to keep pushing the price higher and break above the $5 resistance mark. If buyers can do this, Polkadot will be able to trade near its all-time high of $39.91, which was secured in 2021.

• Liquid staking tokens have seen an increase in value due to anticipation of the Ethereum “Shanghai” upgrade, which will enable staked ETH to be withdrawable.
• Liquid staking protocols reward stakers with ETH-pegged tokens such as stETH and ankrETH, and make it possible for ETH users to stake without having to become validators themselves.
• The higher earning potential of staking with liquid protocols has caught the attention of many ETH holders, driving prices of these tokens up.

The Ethereum network is gearing up for the much-anticipated “Shanghai” upgrade, which is set to take place in March 2023. This upgrade is important for the network, as it will enable users to withdraw their staked ETH, a feature that is currently not available. As a result, the anticipation of this upgrade has been pushing up the prices of liquid staking cryptocurrencies, which are tokens that allow users to earn a yield on staked ETH without having to become validators themselves.

Liquid staking protocols are decentralized networks that reward users with ETH-pegged tokens such as stETH and ankrETH when they stake their ETH. These tokens can then be deployed on other protocols to further participate in the DeFi ecosystem. The higher earning potential of staking with liquid protocols has caught the attention of many ETH holders, driving prices of these tokens up.

In the last week, liquid staking tokens have recorded double-digit gains for their holders. This has been a welcome change for Ethereum users, who have been eagerly awaiting the “Shanghai” upgrade for some time. The upgrade is expected to bring a new level of liquidity to the Ethereum network, making it easier for users to earn yield from their staked ETH.

The anticipation of the “Shanghai” upgrade has been a major factor in the surge of liquid staking tokens. As more users become aware of the benefits of staking with these tokens, the prices of these tokens are likely to continue to rise. This could potentially lead to more people participating in the Ethereum network, and in turn, drive up the value of ETH itself.

The Ethereum “Shanghai” upgrade is set to take place in March 2023, and the anticipation is already driving up the prices of liquid staking tokens. These tokens offer an attractive way for ETH holders to earn yield from their staked ETH without having to become validators themselves. As more users become aware of the potential benefits of liquid staking, the prices of these tokens are likely to continue to rise, bringing more liquidity to the Ethereum network.