As Bitcoin experiences a gradual recovery in its price performance, a new analysis sheds light on the cryptocurrency’s broader market stance. A CryptoQuant analyst known as “Crazzyblockk” recently shared an in-depth study on Bitcoin’s quarterly performance, focusing on key metrics like the asset’s market capitalization and realized capitalization. According to the analyst, examining these metrics every quarter can offer valuable insights into long-term trends and potential future price movements. Related Reading: Bitcoin Signal That Led To At Least 70% Surge Has Formed Again Current Market Signals Resemble 2021 Boom The analysis highlights how fluctuations in Bitcoin’s market cap and realized cap signal bullish and bearish trends over time. Market cap refers to the total value of all BTC in circulation, while realized cap measures the value based on the price at which each Bitcoin last moved. Historically, when the market cap grows faster than the realized cap, it often signals the beginning of selling pressure, leading to bear markets. Conversely, when the market cap declines while the realized cap holds steady or rises, Bitcoin tends to find its price bottom, indicating potential buying opportunities. Crazzyblockk’s analysis parallels Bitcoin’s current market situation and behavior during the 2021 boom. During that period, rapid market cap growth led to significant selling pressure, eventually correcting prices. According to the analyst, Bitcoin is currently in a similar position. While the market cap has seen a notable increase, the realized cap continues to rise, indicating the possibility of another major price correction on the horizon. The analyst’s study also points out that sustained growth in the realized cap, without corresponding support from the market cap, tends to trigger corrections as investors realize their profits. This phenomenon is particularly relevant in the current market environment, where Bitcoin’s price has surged in recent months but faces challenges in maintaining its upward trajectory. Crazzyblockk warns that a correction may be inevitable if Bitcoin’s market cap cannot sustain its current levels. Bitcoin Market Performance Meanwhile, Bitcoin appears to be seeing a cooling-off in the positive price performance seen earlier in recent weeks. So far, the asset has increased by nearly 10% in the past 14 days, reclaiming major highs and even approaching the $70,000 price mark with a high of $69,227 seen yesterday. Related Reading: Bitcoin Retail Activity Soars After 4-Month Slump—Would A 72% Rally Follow? However, the past-day performance of Bitcoin suggests a cool-off of this price increase. Over this period, Bitcoin had fallen below $67,000 with a current trading price of $66,980. Regardless of this price correction, some analysts remain bullish. Particularly, a renowned crypto analyst known as Moustache on X has recently highlighted in a recent post that “Bitcoin has broken out of a falling channel that has been in place for over 7 months.” The analyst added that this price action is “reminiscent” of 2020 before the rally. Commenting on the ongoing decline in BTC, the analyst said: “Are bears celebrating a retest? They will be surprised soon. Featured image created with DALL-E, Chart from TradingView
Realms, a governance platform on Solana, is transitioning to a profit-driven model with new management, launching paid services while continuing to provide free core tools for DAOs.
Generally, political events leave a powerful impact on the crypto market, and as we are nearing the US Election results, experts believe the election might have a positive impact on the crypto market. Crypto traders and analysts have predicted that Solana’s price may rally to $200 by the end of Q4 if U.S. Continue Reading: Crypto Traders Target $200 For The Solana Price By Year-End: Is Cutoshi Also Showing Potential? The post Crypto Traders Target $200 For The Solana Price By Year-End: Is Cutoshi Also Showing Potential? appeared first on COINTURK NEWS .
Musk to Mars could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did. Musk to Mars (MUSKMARS), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days. This is because MUSKMARS is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings. Currently, Musk to Mars can
XRP price could be in danger as the asset broke below a key support level. With the ongoing legal battles and regulatory scrutiny against Ripple, investors are left questioning whether XRP could drop to zero. The increasing market volatility caused by Bitcoin’s price dropping below $67,000 has not helped the situation. The price of XRP The post Is XRP in the Danger Zone? Could XRP Price Drop to Zero? appeared first on CoinGape .
Ethereum co-founder Vitalik Buterin is addressing the challenges of running Ethereum nodes with an upcoming upgrade known as “The Verge.” This upgrade aims to radically enhance the blockchain’s Proof-of-Stake (PoS)
The recent downturn in Toncoin’s market activity has raised concerns regarding its future performance amidst changing user sentiments. Despite a significant surge in activity due to Telegram airdrops, recent events
Traders are braced for Tesla to post its third quarter earnings, potentially revealing why it suddenly moved its near-$800 million worth of bitcoin last week...
On October 23, COINOTAG reported a growing interest in the upcoming U.S. elections, with pivotal implications for the cryptocurrency market. As Donald Trump appears to gain momentum in betting markets,
As altcoins like DOGE rebound with a 33% increase, the spotlight is shifting to the presale success of Cutoshi, a hybrid MemeFi project that's quickly gaining traction. #sponsored