Bitcoin HODL Waves ‘Anomaly’ Raises Doubt Over July Bear-Market Bottom
14 Articles
14 Articles
Cointelegraph
The New York LedgerBitcoin HODL Waves ‘Anomaly’ Raises Doubt Over July Bear-Market Bottom
Bitcoin’s July macro lows under $58,000 drew an unusual response from new buyers, onchain data shows as concerns over the continuation of the bear market continue.
The crypto winter seemed to be over, reaching Bitcoin cycle low in July. But a new analysis of Hodl-Waves suggests that investors may have been happy too soon. Source: BTC-ECHO BTC-ECHO
The cryptocurrency market keeps in mind the sudden passage of the BTC under $58,000 in July. Yet, onchain data show a much weaker reaction than expected after this hollow. This discretion of buyers now raises a central question: did this level really represent a sustainable floor? The HODL Waves indicator sheds a precise light on the recent movements of the supply. Its evolution suggests above all a slow accumulation, very different from the rea…
Bitcoin HODL Waves Flag Weak Buying at $57,800 as ETF Inflows Hit $3.8 Billion
Bitcoin dropped below $58,000 in July and barely anyone rushed to buy it. That’s the short version — and it’s… Read the original on Bitcoin Struggles as HODL Waves Signal Weak Buying Despite $3.8 Billion ETF Inflows. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Bitcoin has recorded an on-chain anomaly that, according to analyst Willy Woo, is unprecedented in the nearly 17.5 years of data available from HODL Waves. The signal points to an unusual behavior during the formation of the last price fund: instead of observing a wide and accelerated accumulation among numerous participants, the data [...] The Bitcoin entry reveals an unprecedented anomaly in its on-chain data that was not seen more than 17 yea…
Are cryptocurrencies entering an upward trend? Here's what on-chain data from Glassnode says about Bitcoin's rebound. We find out.
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