BitcoinWorld Crypto Perpetual Futures Liquidation: Unveiling the Shocking Truth Behind Market Volatility In the high-stakes arena of cryptocurrency trading, few events strike more fear into the hearts of participants than liquidation . It is the swift, unforgiving mechanism that closes out leveraged positions when a trader’s margin falls below the required threshold, often leading to substantial losses. Over the last 24 hours, the crypto market has once again witnessed significant instances of crypto perpetual futures liquidation , underscoring the inherent volatility and risks of this popular trading instrument. Understanding these liquidations is not just about observing numbers; it is about grasping the underlying market dynamics and learning crucial lessons in risk management. For many, the world of perpetual futures can seem daunting, a complex web of leverage, margin, and funding rates. Yet, it is a cornerstone of modern crypto trading, offering opportunities for magnified gains, but equally, for magnified losses. When market conditions turn unfavorable, or positions are over-leveraged, the system intervenes, leading to the dreaded liquidation event. Let us dive into the recent 24-hour breakdown and explore what these figures tell us about the current state of the market and the behavior of its participants. Understanding the Mechanics of Crypto Perpetual Futures Liquidation Before we dissect the latest figures, it is crucial to understand what crypto perpetual futures liquidation truly means. Unlike traditional futures contracts that have an expiry date, perpetual futures do not. They are designed to mimic spot market prices through a funding rate mechanism. Traders can open positions with leverage, meaning they can control a large position with a relatively small amount of capital (margin). However, this leverage is a double-edged sword. If the market moves against a leveraged position, the trader’s equity (margin) begins to deplete. Exchanges set a ‘maintenance margin’ level. If the value of a trader’s margin account falls below this level, the exchange automatically closes (liquidates) the position to prevent the account from going into negative equity. This process is often swift and can result in the entire margin being lost. Key factors contributing to liquidation include: High Leverage: The higher the leverage, the smaller the price movement required to trigger liquidation. Volatile Market Swings: Sudden, sharp price movements can quickly push positions past their liquidation price. Insufficient Margin: Not adding more funds to a losing position (margin call) when needed. Poor Risk Management: Failing to use stop-loss orders or manage position sizes effectively. The Shocking 24-Hour Crypto Perpetual Futures Liquidation Breakdown: What the Numbers Reveal The past 24 hours have been a stark reminder of the power of market forces, particularly for those holding leveraged long positions. Here is the breakdown of crypto perpetual futures liquidation across major assets: Cryptocurrency Total Liquidation (24h) Long Position Liquidation Percentage BTC $35.49 million 65.33% ETH $72.66 million 60.76% XRP $12.66 million 75.15% These figures are illuminating. With a staggering $72.66 million in ETH liquidations, Ethereum futures traders bore the brunt of the market’s recent movements, followed by Bitcoin at $35.49 million and XRP at $12.66 million. What is particularly striking is the high percentage of long positions liquidated across all three assets: 65.33% for BTC, 60.76% for ETH, and a significant 75.15% for XRP. This data strongly suggests that the market experienced a notable downward price action, catching many optimistic long traders off guard. The dominance of long liquidations indicates that a significant portion of traders were betting on price increases, only to see their positions wiped out as prices fell. This often leads to a cascading effect, where initial liquidations further depress prices, triggering more liquidations in a vicious cycle. Why Do Traders Get Liquidated? Common Pitfalls in Crypto Perpetual Futures Trading The high volume of crypto perpetual futures liquidation we just observed is not random; it is a direct consequence of common trading mistakes. Understanding these pitfalls is the first step toward avoiding them: Excessive Leverage: This is arguably the biggest culprit. While 100x leverage might seem enticing for massive gains, it means a mere 1% price movement against your position can lead to liquidation. Many traders overestimate their ability to predict short-term market movements. Ignoring Stop-Loss Orders: A stop-loss is your safety net. It automatically closes your position at a predetermined price, limiting potential losses. Many traders, driven by hope or fear, fail to set stop-losses or move them, leading to devastating outcomes. Lack of Market Analysis: Entering trades without thorough technical and fundamental analysis, or failing to stay updated on market news and sentiment, leaves traders vulnerable to unexpected shifts. Emotional Trading: FOMO (Fear Of Missing Out) on a rising market or FUD (Fear, Uncertainty, Doubt) during a dip often leads to impulsive decisions, such as opening highly leveraged positions at unfavorable times or holding onto losing trades too long. Poor Position Sizing: Investing too large a portion of one’s capital into a single trade, especially a highly leveraged one, amplifies risk exponentially. Navigating the Volatility: Strategies to Avoid Crypto Perpetual Futures Liquidation While the market will always have its unpredictable moments, there are concrete strategies traders can employ to minimize the risk of crypto perpetual futures liquidation : Practice Prudent Leverage: Start with low leverage (e.g., 2x-5x) until you gain significant experience and confidence. Even experienced traders often stick to moderate leverage to manage risk effectively. Implement Strict Risk Management: Always use Stop-Loss Orders: Determine your maximum acceptable loss before entering a trade and set a stop-loss accordingly. Define Take-Profit Levels: Know when to exit a winning trade to lock in profits. Position Sizing: Never risk more than a small percentage (e.g., 1-2%) of your total trading capital on any single trade. Conduct Thorough Market Analysis: Combine technical analysis (chart patterns, indicators) with fundamental analysis (news, project developments, macroeconomic factors) to make informed decisions. Stay Informed, Not Obsessed: Keep an eye on market news but avoid constant chart watching, which can lead to emotional decisions. Set alerts for key price levels. Understand Funding Rates: Be aware of the funding rates, especially if holding positions for extended periods, as these can eat into profits or exacerbate losses. Consider a Diversified Approach: While futures are speculative, avoid putting all your capital into a single, highly leveraged position. The Broader Impact of Massive Crypto Perpetual Futures Liquidations Beyond the individual trader, large-scale crypto perpetual futures liquidation events have broader implications for the market: Increased Volatility: Liquidations often trigger further price swings as forced selling occurs, creating a domino effect that can lead to flash crashes. Market Sentiment Shift: A wave of liquidations can dampen overall market sentiment, leading to a period of fear and uncertainty among traders. Opportunity for Contrarian Traders: While painful for those liquidated, these events can create opportunities for well-capitalized traders to enter positions at lower prices. Health Check on Market Health: Frequent, large liquidations can signal an over-leveraged market, indicating a need for caution and potentially a period of deleveraging. The recent liquidations, particularly the high percentage of long positions, serve as a potent reminder of the inherent risks in highly leveraged trading. They highlight the importance of disciplined risk management, a deep understanding of market mechanics, and the wisdom to avoid succumbing to greed or fear. Ultimately, success in the perpetual futures market is less about predicting every price move and more about managing risk effectively. The numbers from the past 24 hours are not just statistics; they are a crucial lesson for every trader navigating the exhilarating yet perilous world of crypto. Frequently Asked Questions (FAQs) About Crypto Perpetual Futures Liquidation Q1: What is crypto perpetual futures liquidation? A1: Crypto perpetual futures liquidation is the forced closure of a trader’s leveraged position by an exchange when their margin balance falls below the required maintenance margin, typically due to adverse price movements. It prevents the trader’s account from going into negative equity. Q2: Why do most liquidations happen to long positions during a market downturn? A2: When the market experiences a downturn, prices fall. Traders holding long positions (betting on price increases) will see their positions lose value. If the price drop is significant enough and they are highly leveraged, their margin will deplete, leading to the liquidation of their long positions. Q3: How can I calculate my liquidation price? A3: Most crypto exchanges provide a liquidation price calculator directly on their trading interface. This calculation depends on your entry price, leverage, initial margin, and maintenance margin rate. It’s crucial to know this price for every leveraged trade. Q4: Are liquidations always bad? A4: For the individual trader experiencing it, liquidation is always a negative event as it results in loss of capital. However, from a broader market perspective, liquidations can help to deleverage an overheated market, potentially leading to healthier, more sustainable price action in the long run. Q5: What is the most important tip to avoid crypto perpetual futures liquidation? A5: The single most important tip is to use prudent leverage and always implement strict risk management, primarily through the consistent use of stop-loss orders. Never risk more than you can afford to lose on any single trade. Q6: Does adding more margin prevent liquidation? A6: Yes, adding more margin (also known as ‘topping up’ your margin) to your position can lower your liquidation price, giving your trade more room to move against you before being liquidated. However, this also means you are committing more capital to a potentially losing trade. We hope this comprehensive breakdown has shed light on the intricacies of crypto perpetual futures liquidation . If you found this article insightful, please consider sharing it with your trading community and on social media platforms. Your support helps us continue to provide valuable market analysis and educational content. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action . This post Crypto Perpetual Futures Liquidation: Unveiling the Shocking Truth Behind Market Volatility first appeared on BitcoinWorld and is written by Editorial Team
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Crypto mining firm MARA Holdings’ Q2 revenues jumped 64% from a year ago to $238 million, driven by Bitcoin appreciation and expanded mining operations.
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Ethereum price struggled to continue higher above the $3,940 zone. ETH is now consolidating gains and might soon aim for a move toward $4,000. Ethereum started a fresh increase above the $3,840 and $3,880 levels. The price is trading above $3,800 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,725 zone in the near term. Ethereum Price Holds Support Ethereum price struggled to extend gains above the $3,940 level, like Bitcoin . ETH price started a downside correction from the $3,939 high and traded below $3,900. The price traded below the $3,820 support level and settled below the 23.6% Fib retracement level of the upward move from the $3,515 swing low to the $3,939 high. Moreover, there is a bearish trend line forming with resistance at $3,840 on the hourly chart of ETH/USD. However, the price is steady above the $3,720 support and the 50% Fib retracement level of the upward move from the $3,515 swing low to the $3,939 high. Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average . On the upside, the price could face resistance near the $3,840 level. The next key resistance is near the $3,880 level. The first major resistance is near the $3,940 level. A clear move above the $3,940 resistance might send the price toward the $3,965 resistance. An upside break above the $3,965 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,120 in the near term. Another Drop In ETH? If Ethereum fails to clear the $3,840 resistance, it could start a downside correction. Initial support on the downside is near the $3,720 level. The first major support sits near the $3,680 zone. A clear move below the $3,680 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,420. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,720 Major Resistance Level – $3,840
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BitcoinWorld US Spot Bitcoin ETFs Witness Remarkable $79.62M Inflow Surge The world of digital assets is constantly buzzing, and recently, all eyes have been on the remarkable performance of US spot Bitcoin ETFs . On July 29, these investment vehicles once again captured headlines, recording a substantial total net inflow of $79.62 million . This isn’t just a one-off event; it marks an impressive streak of four consecutive trading days with positive flows, signaling growing investor confidence and sustained interest in Bitcoin exposure through regulated channels. For many in the cryptocurrency community and traditional finance alike, the approval and subsequent performance of US spot Bitcoin ETFs have been a game-changer. These instruments provide a regulated, accessible pathway for institutional and retail investors to gain exposure to Bitcoin’s price movements without the complexities of direct ownership, such as managing private keys or navigating crypto exchanges. This accessibility has been a significant driver of the recent inflows, as more diverse investor pools look to capitalize on Bitcoin’s potential. Understanding the Dynamics of US Spot Bitcoin ETFs Inflows The daily inflow and outflow data for US spot Bitcoin ETFs offer a fascinating snapshot of market sentiment and the strategic movements of major players. On July 29, the picture was largely positive, albeit with some interesting nuances: BlackRock’s IBIT Leads the Charge: BlackRock’s iShares Bitcoin Trust (IBIT) continued its dominant performance, pulling in a staggering $157.19 million in inflows. This consistent leadership underscores BlackRock’s significant market presence and investor trust in their offering. VanEck’s HODL Sees Modest Gains: VanEck’s Bitcoin Trust (HODL) also contributed positively, albeit on a smaller scale, with $5.82 million in inflows. This indicates a broader interest beyond just the largest funds. Outflows from Key Players: While the overall trend was positive, some funds experienced outflows. Grayscale’s Bitcoin Trust (GBTC) saw $48.97 million in outflows, a pattern observed since its conversion from a trust to an ETF. Bitwise’s Bitcoin ETF (BITB) recorded $26.22 million in outflows, and ARK Invest’s ARK 21Shares Bitcoin ETF (ARKB) had $8.2 million in outflows. These outflows often reflect profit-taking, rebalancing of portfolios, or shifts towards lower-fee alternatives. Steady Holdings: The remaining US spot Bitcoin ETFs reported no change in their holdings for the day, suggesting a period of stability for those particular funds. The net positive flow, despite some significant outflows, highlights the robust demand for new capital entering the Bitcoin ETF ecosystem. It’s a testament to the growing institutional appetite for digital assets, viewing Bitcoin not just as a speculative asset but as a legitimate component of a diversified investment portfolio. Why Are These Inflows into US Spot Bitcoin ETFs So Important? The continuous positive flow into US spot Bitcoin ETFs carries significant implications for the broader cryptocurrency market and traditional finance. Here’s why: Institutional Validation: The sheer volume of inflows, particularly into funds managed by financial giants like BlackRock, signals increasing institutional validation of Bitcoin as an asset class. This can pave the way for more traditional investors to allocate capital to digital assets. Market Maturation: The presence of regulated ETF products contributes to the maturation of the Bitcoin market. It brings greater transparency, liquidity, and adherence to established financial standards, which can reduce volatility and enhance investor confidence. Price Impact: While not a direct cause-and-effect, sustained inflows into Bitcoin ETFs create demand for underlying Bitcoin. As ETFs acquire more BTC to back their shares, it reduces the available supply on exchanges, potentially exerting upward pressure on Bitcoin’s price over time. Accessibility and Education: ETFs simplify Bitcoin investment, making it accessible to a wider audience who might be intimidated by direct crypto purchases. This increased accessibility also fosters greater education about digital assets within traditional financial circles. Competitive Landscape: The competition among various ETF providers drives innovation in product offerings, fee structures, and marketing efforts, ultimately benefiting investors. The interplay between these factors creates a powerful feedback loop, where positive inflows reinforce confidence, leading to further interest and investment. The Evolution of Bitcoin Investment: From Retail to Institutional Bitcoin’s journey from a niche digital currency to a globally recognized asset has been remarkable. Initially, its adoption was primarily driven by tech-savvy individuals and early adopters. However, the introduction of financial products like futures contracts and, more recently, US spot Bitcoin ETFs , has opened the floodgates for institutional capital. This shift signifies a maturation of the asset class. Institutions bring not only significant capital but also a long-term investment horizon and a demand for regulatory clarity and robust infrastructure. The consistent inflows into US spot Bitcoin ETFs are a clear indicator that this institutional embrace is not a fleeting trend but a fundamental shift in how Bitcoin is perceived and integrated into global financial portfolios. The ability to invest in Bitcoin through traditional brokerage accounts, with the familiarity and security associated with ETFs, has demystified crypto for many. This ease of access, combined with the potential for diversification and growth, makes US spot Bitcoin ETFs an increasingly attractive option for a broad spectrum of investors. Challenges and Considerations for US Spot Bitcoin ETFs While the recent inflows paint a rosy picture, it’s crucial to acknowledge the inherent challenges and considerations associated with US spot Bitcoin ETFs and the broader crypto market: Volatility: Bitcoin remains a highly volatile asset. While ETFs offer exposure, they do not mitigate the underlying price fluctuations of Bitcoin. Investors must be prepared for significant price swings. Regulatory Scrutiny: The cryptocurrency landscape is still evolving, and regulatory frameworks can change. Future regulations could impact the operations or attractiveness of Bitcoin ETFs. Competition: The market for US spot Bitcoin ETFs is becoming increasingly competitive. While this can benefit investors through lower fees, it also means funds must constantly innovate to attract and retain capital. Macroeconomic Factors: Broader economic conditions, such as interest rate changes, inflation, or geopolitical events, can significantly influence investor sentiment towards risk assets like Bitcoin, impacting ETF flows. Grayscale’s GBTC Outflows: The continued outflows from GBTC, while decreasing, still represent a significant factor. As investors shift from the older trust structure to newer, often lower-fee ETFs, GBTC’s performance will remain a key indicator of market rebalancing. Despite these challenges, the overall trajectory for US spot Bitcoin ETFs appears positive, driven by sustained demand and increasing mainstream acceptance of digital assets. What’s Next for US Spot Bitcoin ETFs and the Crypto Market? The consistent positive flows into US spot Bitcoin ETFs are a powerful indicator of shifting tides in the investment world. As more institutions and traditional investors gain comfort with Bitcoin through these regulated products, we could see further integration of digital assets into mainstream finance. This could lead to: Increased Product Diversity: The success of Bitcoin ETFs might pave the way for other single-asset crypto ETFs (e.g., Ethereum ETFs) or even multi-asset crypto baskets. Enhanced Market Liquidity: More capital flowing into the market via ETFs can increase overall liquidity, making Bitcoin trading more efficient and potentially less volatile in the long run. Broader Educational Initiatives: As more financial advisors become familiar with and recommend these products, it will naturally lead to greater public understanding of cryptocurrencies. The journey of US spot Bitcoin ETFs is far from over. Each day’s inflow and outflow data contribute to a larger narrative of adoption, maturation, and the gradual integration of digital assets into the global financial fabric. The recent $79.62 million inflow is not just a number; it’s a testament to the enduring appeal and growing legitimacy of Bitcoin in the eyes of the world’s investors. Concluding Thoughts: The Unstoppable Momentum of US Spot Bitcoin ETFs The latest figures, showing a substantial $79.62 million in net inflows for US spot Bitcoin ETFs on July 29, underscore a compelling narrative of growing confidence and sustained institutional interest. With four consecutive days of positive flows, spearheaded by BlackRock’s impressive IBIT, these regulated investment vehicles are clearly becoming a preferred gateway for traditional investors seeking exposure to Bitcoin. While outflows from some funds like Grayscale’s GBTC indicate ongoing market rebalancing, the overall trend points towards a robust and maturing ecosystem. This consistent influx of capital not only validates Bitcoin as a legitimate asset class but also signals a significant step forward in the broader integration of digital assets into mainstream finance. As these ETFs continue to gain traction, they are poised to play an increasingly vital role in shaping the future of investment portfolios worldwide, reflecting an undeniable shift in how the world views and invests in the digital frontier. Frequently Asked Questions (FAQs) Q1: What is a US spot Bitcoin ETF? A1: A US spot Bitcoin ETF (Exchange-Traded Fund) is an investment vehicle that holds actual Bitcoin and trades on traditional stock exchanges. It allows investors to gain exposure to Bitcoin’s price movements without directly owning or managing the cryptocurrency. Q2: Why are inflows into US spot Bitcoin ETFs significant? A2: Significant inflows indicate growing institutional and retail investor interest in Bitcoin through regulated financial products. This validates Bitcoin as an asset class, enhances market liquidity, and can contribute to its long-term price appreciation by increasing demand. Q3: Which US spot Bitcoin ETF is seeing the most inflows? A3: BlackRock’s iShares Bitcoin Trust (IBIT) has consistently been a leader in terms of inflows, often attracting the largest share of new capital among the various US spot Bitcoin ETFs. Q4: Why are some US spot Bitcoin ETFs experiencing outflows? A4: Outflows from certain ETFs, particularly Grayscale’s GBTC, are often attributed to profit-taking by early investors, rebalancing of portfolios, or a shift of capital towards newer ETFs with potentially lower management fees. Bitwise and ARK Invest also saw some outflows on July 29. Q5: How do US spot Bitcoin ETFs affect Bitcoin’s price? A5: While not the sole determinant, sustained inflows into US spot Bitcoin ETFs increase demand for Bitcoin as the funds need to acquire more BTC to back their shares. This reduced supply on exchanges can exert upward pressure on Bitcoin’s price over time. Q6: Are US spot Bitcoin ETFs suitable for all investors? A6: While they offer accessibility, investors should be aware that Bitcoin is a volatile asset. ETFs provide exposure to this volatility. It’s crucial for investors to understand the risks involved and assess if it aligns with their investment goals and risk tolerance. If you found this article insightful, please consider sharing it with your network on social media! Your shares help us bring valuable crypto market insights to a wider audience. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption. This post US Spot Bitcoin ETFs Witness Remarkable $79.62M Inflow Surge first appeared on BitcoinWorld and is written by Editorial Team
XRP continues to draw major attention as one of the most widely adopted cryptocurrencies by institutions—and for good reason. As the global economy becomes increasingly digital, XRP’s role in cross-border transactions has expanded rapidly. Major banks like Santander and SBI are already using Ripple’s network to settle payments in seconds, while American Express and others explore further integration. This real-world use case sets XRP apart from most other tokens that rely solely on speculation. Adding to the momentum is growing anticipation around a spot XRP ETF. After Ethereum’s approval earlier this year, XRP is now seen as one of the top candidates for institutional recognition. A spot ETF would mark a major milestone, likely unlocking billions in demand from funds and investors who have previously been sitting on the sidelines. That kind of attention is now spreading to new altcoins, too. One early-stage project, MAGACOIN FINANCE, is being described as a “ next XRP moment ” by some analysts. With a projected 13,200% ROI for early backers, MAGACOIN is attracting serious interest from investors hoping to secure a position before it reaches exchanges. Its presale rounds are selling out quickly, signaling that smart money is already moving in. Even a $2,500 investment could grow to over $330,000 if the forecasts play out. Back to XRP, long-term price forecasts are getting increasingly bold. As the global financial system slowly modernizes, XRP’s position as a bridge currency becomes more valuable. Analysts are starting to model future scenarios where XRP climbs past $20 or even $25 by 2030 – especially if Bitcoin hits six figures and the crypto market enters a full adoption phase. That would mean 100 XRP could be worth over $2,500 , turning a modest purchase today into a sizeable return within a few years. The bullish outlook isn’t just based on speculation. Ripple’s expanding network of partners, its steady legal progress, and the almost-certain ETF approval combine to make XRP one of the strongest bets for the next decade. While the crypto space remains volatile, XRP’s real-world utility continues to provide it with solid ground beneath its price action. To learn more about MAGACOIN FINANCE, visit: Website: https://magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Telegram: https://t.me/magacoinfinance Continue Reading: Here is What 100 XRP Could Be Worth in 2030
Data shows the Bitcoin Coinbase Premium Gap recently broke its longest ever streak of positive values. Here’s what this could mean for the market. Bitcoin Coinbase Premium Gap Turned Negative Recently In a new post on X, CryptoQuant community analyst Maartunn has talked about the recent trend in the Bitcoin Coinbase Premium Gap. The “Coinbase Premium Gap” refers to an indicator that keeps track of the difference between the BTC price listed on Coinbase (USD pair) and that on Binance (USDT pair). The former cryptocurrency exchange is primarily used by US-based investors, especially large institutional entities. The latter, on the other hand, has a global userbase. As such, the Coinbase Premium Gap essentially tells us about how the buying or selling behaviors differ between the American and foreign whales. Related Reading: XRP Dormant Coins On The Move: Reason Behind Price Plunge? When the value of the metric is positive, it means the cryptocurrency is listed for a higher price on Coinbase than Binance. Such a trend implies buying pressure is stronger (or selling pressure is weaker) on the former as compared to the latter. On the other hand, the indicator having a negative value implies Binance is the platform observing a net higher accumulation as its users have pushed BTC to a higher value than on Coinbase. Now, here is a chart that shows the trend in the 30-hour moving average (MA) of the Bitcoin Coinbase Premium Gap over the past year and a half: As displayed in the above graph, the 30-hour MA Bitcoin Coinbase Premium Gap has mostly held a positive value for a while now, indicating that Coinbase users have been buying. This accumulation was so consistent earlier that it managed to reach a streak of 94 days, but recently, a dip into the negative territory finally broke it. “This was the longest streak in history,” notes the analyst. Since the start of 2024, US institutional investors have generally played a driving role in the market, with the price often showing correlation to the Coinbase Premium Gap. Given this pattern, a pivot to selling from this group can naturally be a bearish sign for Bitcoin. Related Reading: Ethereum Exchange Reserve Plummets: Over 1 Million ETH Withdrawn The chart shared by Maartunn shows more of a long-term view of the indicator. So, here is another graph, this one from CryptoQuant author IT Tech, that shows how the metric’s fluctuations have looked on a higher resolution over the past month: From the chart, it’s apparent that the metric has seen multiple drops into the negative zone recently, with the latest one coming during the past day. “The demand in the US Market is weakening,” says the analyst. “Caution is necessary.” BTC Price Bitcoin has been unable to find a direction as its price is still floating around $117,700. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
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