#Analytics

🪙 Experts from #CryptoQuant state that if $65,800 is breached, the price of #BTC could drop to $60,000

💔 — Bitcoin is doomed
😎 — I’ll buy more for cheap

🪙 Whales have been accumulating #bitcoin all year

#CryptoQuant reports that since the beginning of 2024, wallet holders with a balance of 1,000 #BTC or more have bought a total of 1.45 million coins of digital gold.

While newbies are getting shaken down and bitcoins are being shaken out of weak hands, serious players continue to accumulate assets and believe in the market 📈

#CryptoNews

#Opinion

🪙 Analysts from #CryptoQuant believe that the bull run will not start until the fourth quarter

The company's experts argue that August and September are traditionally weak months for the crypto market. Moreover, at the beginning of the last cycle, #Bitcoin saw growth specifically in the fourth quarter of the year.

📆 It’s also important to consider the upcoming U.S. elections, during which the stock market might be injected with additional liquidity to avoid a drop in stocks and a decline in voter sentiment. In such a scenario, cryptocurrencies might benefit as well, serving as an additional positive catalyst for the market.

🔥 — That's how it will be
❤️‍🔥 — Expecting growth in September
🗿 — The cycle won't repeat itself

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#Opinion

🪙 Alex Adler from #CryptoQuant believes that market participants who are inclined to sell #BTC are no longer willing to sell at the current levels

The average amount of loss-making sales has dropped from $5 million to $4.7 million, signaling that even short-term holders selling at a loss are preparing for an increase in Bitcoin's value.

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#Analysis #ETH

🔷 #CryptoQuant published a technical analysis of #Ethereum:

After a prolonged decline, the 30-day moving average of ETH funding rates showed a bullish shift.

📈 This coincided with the market returning to high price levels and an increase in Ethereum’s value, which may signal a reversal of the bearish trend for this coin.

Meanwhile, spot Ethereum-#ETF saw the largest inflow of funds since the beginning of August — $62.5 million.

not a trading recommendation

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#Opinion

🪙 While #Bitcoin is showing the best September in its history — +10.6% compared to the average of -3.5%, #CryptoQuant reminds us that the last major resistance level for #BTC is around $63,300.

According to analysts, this is where the main group of short-term holders, who hold coins for 3 to 6 months, are concentrated.

Once this level is surpassed, the path to a new ATH will be open 📈

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📆 Analogies from #CryptoQuant:

#BackInTheDay, in 2008, the price of gold began to rise from $590 per ounce and reached $1,900 in 2011.

📉 This happened against the backdrop of declining yields on 13-week Treasury bills, which led to increased demand for stable and limited assets like gold.

🕯 In 2024, we observe a similar trend: #gold has already risen from $2,000 to $2,700. However, this time it has a digital competitor — #BTC, which may capture some of the attention of investors and, consequently, part of their capital that could have gone into precious metals.

#Opinion

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🔽 #Bitcoin is falling, with the price dropping to $60,000 at the moment

In addition to the influence of conflicts in the Middle East, #CryptoQuant associates the drop in #BTC’s price with a long squeeze in the perpetual contracts market and institutional investors’ caution.

🕯 Funds are anticipating a key interest rate hike by the Bank of Japan due to the party’s decision to elect Shigeru Ishiba, a proponent of strict monetary policy, as the new Prime Minister, which could lead to a repeat of the cascading unwinding of carry trade positions.

A similar situation at the end of July caused Bitcoin to fall from $70,000 to $49,000.

#CryptoNews

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