Bitcoin before the next big bang? SOPR metric gives hope

The crypto market under the auspices of the crypto key currency Bitcoin is currently showing signs of fatigue. The fact that Bitcoin is lagging behind its ATH form is the springboard for the next bull run. The market update.

While the Bitcoin rate was able to catch up to 35,000 US dollars in yesterday’s trading, it is heading south again in a daily comparison

With a 24-hour minus of 5 percent, the largest cryptocurrency slipped to 31,672 US dollars at the time of going to press, leaving it over 13 percentage points in a weekly comparison.

The strong sell-off is reflected in the falling market dominance, which has fallen from the plateau at 72 percent at the beginning of January to the current 63 percent. Investors pulled over $ 100 billion from the digital currency in the last week of trading alone.

Since the Bitcoin exchange rate slowed just short of the US $ 40,000 mark on January 14, the market has been cooling off in a consolidation phase. However, a fluctuation range of around 7,000 US dollars in the last seven days shows that the market is still rumbling. If the cops were able to single-handedly dictate the Bitcoin route for a few more weeks, the recently sleepy bears get involved again and block an increase to the 40,000 mark. Bears and bulls are once again in a lively exchange of blows on the digital markets and let Bitcoin oscillate between resistance and support. According to the current Week-on-Chain report from Glassnode, the indicators speak for a Bitcoin outbreak in the long term.

Bitcoin profit margin

The on-chain analysts link the forecast to the spent output profit ratio (adjusted SOPR). This metric measures the profit of the transferred Bitcoin based on the difference between the buying and selling price. The realized profit, i.e. the output value, is divided by the purchase price. A value of over 1 means that investors sell Bitcoin on average for a profit. The sales price is then higher than the purchase price. Conversely, a value below 1 indicates that the sale of Bitcoin is associated with losses.

Las tasas de financiación de Bitcoin se disparan mientras

Las tasas de financiación de Bitcoin se disparan mientras persiste la consolidación; ¿Inminente de largo plazo?

  • Bitcoin ha visto últimamente un poco de chuletas salvajes, con el precio del cripto que oscila entre los 30.000 dólares de la región inferior y superior.
  • Ha encontrado un fuerte apoyo en la parte baja de este rango, con los vendedores intentando en múltiples ocasiones romperlo sin éxito.
  • La criptocracia también ha estado viendo grandes episodios de actividad de compra para contrarrestar la presión de venta que parece venir de las grandes ballenas en Coinbase y Binance
  • Tan pronto como estos osos levanten sus paredes de venta o se queden sin monedas para vender, BTC podría empezar a volar más alto
  • Un comerciante observa ahora que, aunque la cripta parece estar posicionada para una mayor alza, las altas tasas de financiación siguen siendo un posible catalizador para una larga compresión

Bitcoin ha visto una acción positiva en el precio esta mañana, con la criptocopia subiendo después Crypto Trader de una fuerte venta nocturna que hizo que la criptocopia bajara a un mínimo de 34.800 dólares.

La presión de compra aquí demostró ser significativa y ayudó a provocar un rebote que aún se está desarrollando en este momento.

El precio del BTC llegó a los 37.500 dólares antes de enfrentarse a un flujo de presión de compra que ralentizó su ascenso.

Todavía se ve fuerte, y hay una gran posibilidad de que vea más subidas a corto plazo una vez que los 37.000 dólares se vuelvan a apoyar.

Un analista advierte que no hay que entusiasmarse demasiado, ya que señala que las altas tasas de financiación parecen indicar que podría haber un largo apretón en el futuro de Bitcoin.

Bitcoin se recupera después de una aguda venta nocturna

En el momento de escribir este artículo, Bitcoin está subiendo un poco menos del 3% a su precio actual de 36.900 dólares. Esto marca una notable subida desde sus mínimos de la noche a la mañana de menos de 35.000 dólares fijados hace unas horas.

Donde las tendencias criptográficas a medio plazo probablemente dependerán de su continua reacción a los 37.000 dólares. Este es un nivel de resistencia para el BTC, lo que haría que el cambio de soporte fuera técnicamente significativo.

Analista: La alta financiación de BTC supone un riesgo para aumentar el potencial

Un analista explicó en un reciente tweet que el potencial alcista a corto plazo de Bitcoin se ve actualmente obstaculizado por las altas tasas de financiación de las posiciones apalancadas.

Esto podría indicar que ser largo es un comercio increíblemente concurrido y que un apretón largo de Bitcoin es inminente.

„TWAPs“ y „aperturas diarias“ parecen ser muy importantes en estos días. La financiación está siendo muy alta de nuevo, por lo que no creo que haya mucho espacio para más ganancias.“

Los próximos días deberían arrojar algo de luz sobre las perspectivas de Bitcoin, con su reacción a los 37.000 dólares y finalmente a los 40.000 dólares marcando la pauta de su tendencia a medio plazo.

Crypto-asset management Grayscale posts record fourth quarter figures

An average of $250.7 million per week flowed into Grayscale’s crypto investment products in the fourth quarter.

Institutional investors invested massively in the crypto market in the fourth quarter of 2020, as evidenced by the fact that crypto investment products from wealth management firm Grayscale enjoyed the greatest popularity during the period.

Led by Bitcoin (BTC) and Ethereum (ETH) investment products, Grayscale’s total crypto financial products reached $3.3 billion in the fourth quarter. This equates to an inflow of US$250.7 million per week. Compared to the third quarter of 2020, the total value has more than tripled, as previously there was only US$1.05 billion.

While the Grayscale Bitcoin Trust raised US$217.1 million per week in Q4, the Ethereum investment fund generated US$26.3 million per week.

In the process, 93% of all new investments came from institutional investors, of which Crypto Trader other asset management firms make up the majority. An increase of 9% compared to the third quarter, when institutions had already accounted for 84% of new capital inflows.

In the full year 2020, a total of $5.7 billion was invested in Grayscale’s crypto investment products. A massive increase on previous years, this figure is more than four times the cumulative investment from 2013 to 2019.

„2020 saw some of the world’s most influential investors publicly support digital currencies as an asset class and some of the largest institutional investors and corporations allocating to Bitcoin,“ Grayscale told Cointelegraph, adding:

„Macroeconomic conditions and current monetary policy are increasingly legitimising Bitcoin as digital gold.“
Grayscale’s record figures mark a turning point for Bitcoin, demonstrating that the „smart money“ has finally recognised the cryptocurrency as a hedge against inflation and a store of value in 2020. This narrative was one of the driving forces that lifted Bitcoin almost to US$42,000 in January.

Increased adoption by institutions is paving the way for Bitcoin’s mass adoption, as Jeff Currie of Goldman Sachs also confirms. However, the financial expert still sees a long way to go for the cryptocurrency until then.

With Joe Biden’s administration taking office in the coming days, another Corona aid package could soon be passed, which could play into Bitcoin’s favour.