Santiment
189,936 views
155 Posts
Hot
Latest
Santiment Analyst Firm Cautions Against Selling Bitcoin To Major Bookmakers
Bitcoin has been experiencing a surge in prices, with the cryptocurrencyâs value edging closer to the $30,000 mark. According to a report by Santiment, this has resulted in a polarizing time for the market, with profit taking and fears of a top becoming prevalent.
The report highlights that the five largest transactions of 2023 have all happened in March, with the latest being a massive 20,000 BTC move that briefly went to address 3JZq4atUahhuA9rLhXLMhhTo133J9rF97j before being moved to multiple others.
@azcoinnews
The influx of coins moving back onto exchanges between March 13th to 21st is also notable, as Bitcoinâs price surged up to 28k during this period. However, since then, supply has again been moving off of exchanges.
The report also notes that the total number of active sharks and whales (in yellow) and more dormant whales/exchange addresses (in red) are still rising in March, but the yellow line is rising at a slower pace compared to when prices were bottoming out in November and December.
The percentage held by this same shark/whale yellow line looks concerning when taking a look at the percentage of Bitcoin supply held. After an accumulation pattern up until late January, profit taking has gradually taken effect.
The caution flags raised by the large transactions going on in March and the slide down of the 10-10k BTC address tier (by percentage) and tapering off (by total addresses) suggest that there are legitimate concerns about Bitcoinâs ability to surge to $35,000 and beyond.
The cryptocurrency market has always been volatile, and the recent fluctuations in Bitcoinâs price are no exception. The report by Santiment provides valuable insights into the current state of the market and raises important questions about the future of Bitcoin. It remains to be seen whether the caution flags will result in a slowdown of Bitcoinâs upward trajectory or if the cryptocurrency will continue to surge ahead.
#bitcoin #BTC #Santiment #BTC #azcoinnews
This article was republished from azcoinnews.com
The report highlights that the five largest transactions of 2023 have all happened in March, with the latest being a massive 20,000 BTC move that briefly went to address 3JZq4atUahhuA9rLhXLMhhTo133J9rF97j before being moved to multiple others.
@azcoinnews
The influx of coins moving back onto exchanges between March 13th to 21st is also notable, as Bitcoinâs price surged up to 28k during this period. However, since then, supply has again been moving off of exchanges.
The report also notes that the total number of active sharks and whales (in yellow) and more dormant whales/exchange addresses (in red) are still rising in March, but the yellow line is rising at a slower pace compared to when prices were bottoming out in November and December.
The percentage held by this same shark/whale yellow line looks concerning when taking a look at the percentage of Bitcoin supply held. After an accumulation pattern up until late January, profit taking has gradually taken effect.
The caution flags raised by the large transactions going on in March and the slide down of the 10-10k BTC address tier (by percentage) and tapering off (by total addresses) suggest that there are legitimate concerns about Bitcoinâs ability to surge to $35,000 and beyond.
The cryptocurrency market has always been volatile, and the recent fluctuations in Bitcoinâs price are no exception. The report by Santiment provides valuable insights into the current state of the market and raises important questions about the future of Bitcoin. It remains to be seen whether the caution flags will result in a slowdown of Bitcoinâs upward trajectory or if the cryptocurrency will continue to surge ahead.
#bitcoin #BTC #Santiment #BTC #azcoinnews
This article was republished from azcoinnews.com
đ $ETH #Santiment : Ethereum has taken a jump this weekend, rebounding above $3.6K after dropping as much as -25% between March 11th and 19th. The amount of ETH addresses holding coins is up to an all-time high 118.23K, and mid-term MVRV has a very mild bullish signal.
đą #Santiment : Bitcoin has just witnessed its biggest surge in dormant $BTC tokens changing hands in more than two years, signaling a potential increase in price volatility ahead.
đ #Santiment : AxieInfinity and BitcoinCash are among the very slim group of crypto assets that are seeing a higher ratio of shorts than longs this weekend. Traders appear to be confident of a market bounce upcoming, and $BCH & $AXS are two exceptions. Short liquidations could act as 'rocket fuel' and cause market value rises if they show minor signs of bouncing while there is this level of trader shorting at their current values.
đŻ #Santiment : The following assets sit atop the top trending list of crypto assets that are driving market discussions and sentiment:
#Wormholecoin : Trending due to the Wormhole Token Generation Event (TGE) and a massive airdrop of over 670 million tokens scheduled for today.
$ENA Ethena Labs: Trending due to the surge in price and marketcap of Ethena Labs' governance token
$WAVES Protocol: trending due to a proposal to invest #XTN treasury funds into the Waves Index (WIND) pool, with the protocol buying tokens using WAVES from Neutrino reserves.
#Wormholecoin : Trending due to the Wormhole Token Generation Event (TGE) and a massive airdrop of over 670 million tokens scheduled for today.
$ENA Ethena Labs: Trending due to the surge in price and marketcap of Ethena Labs' governance token
$WAVES Protocol: trending due to a proposal to invest #XTN treasury funds into the Waves Index (WIND) pool, with the protocol buying tokens using WAVES from Neutrino reserves.
đđ #Santiment : $BTC 's short-lived all-time high celebration was quickly replaced with crowd concerns over a -7% price drop. By the dip calls are at their highest level in a couple months. Historically, once urgency dies down, this is the true opportunity to buy.
đ¶ #Santiment data suggests a significant increase in $DOGE transaction volume, rising from 1.22 billion to 9.20 billion in a 48-hour period. While the reason behind this surge is still unclear, it is a noteworthy development for the memecoin.
Developer activity is a key crypto investing metric that investors have to evaluate before jumping into an unpredictable cryptocurrency market. Investors can study developer activity on blockchain data platforms like Flipside and Santiment. They can also receive direct updates from leading blockchain developers on social platforms like X and Discord.
Remember, cryptocurrencies are highly-risk assets. Always do your own research before investing. The information in this guide does not constitute investment advice and is meant for informational purposes only.
Developer activity refers to work being done behind the scenes to upgrade blockchain systems, fix issues, and add new features and smart contracts to a cryptocurrency network. The open-source nature of cryptocurrency projects allows us to measure developer activity in near real-time by monitoring contributor activity on a developer platform called GitHub and by tracking smart contract deployment on-chain.
#Write2Earn⏠#Github #Santiment #Flipside
Remember, cryptocurrencies are highly-risk assets. Always do your own research before investing. The information in this guide does not constitute investment advice and is meant for informational purposes only.
Developer activity refers to work being done behind the scenes to upgrade blockchain systems, fix issues, and add new features and smart contracts to a cryptocurrency network. The open-source nature of cryptocurrency projects allows us to measure developer activity in near real-time by monitoring contributor activity on a developer platform called GitHub and by tracking smart contract deployment on-chain.
#Write2Earn⏠#Github #Santiment #Flipside
đșđžđž $BTC #Santiment : The US Consumer Price Index report has come out, revealing that there was a 3.5% inflation rise in March. This higher than expected result has dropped equities markets, but crypto markets have recovered quite fine after Bitcoin initially dropped to $67.5K right before the CPI results were announced.
The crowd appears very aware of how this report can have an impact on prices, and there is a massive spike in discussions related to it. Traders appear set on staying strong right now, with "buy the dip" calls going up considerably as the sector fell. Meanwhile, sell calls have barely moved.
The crowd appears very aware of how this report can have an impact on prices, and there is a massive spike in discussions related to it. Traders appear set on staying strong right now, with "buy the dip" calls going up considerably as the sector fell. Meanwhile, sell calls have barely moved.
đ $BTC #Santiment : Crypto markets have seen a boost today, as bitcoin has jumped back to $63.8K with just over 36 hours until its halving event. The crowd has maintained a consistently bearish sentiment toward top caps, which strengthens the argument for more rising.
đ #Santiment : Volatility is extremely high in crypto, with $BTC reaching as high as $72.7K yesterday and dipping to $68.9K moments ago.
30 minutes before this drop, we saw a major #FOMO signal, as reflected by calls related to 'buying' & other 'bullish' keywords.
30 minutes before this drop, we saw a major #FOMO signal, as reflected by calls related to 'buying' & other 'bullish' keywords.
đ $BTC #Santiment : The volume of transactions is growing, and the number of wallets with >0 BTC continues to fall.
đą #Santiment : wallets with balances of 1,000 - 10,000 BTC have been on a buying spree, acquiring 140,000 $BTC over the past three weeks, amounting to $6.16 billion
đłđ€ $BTC #Santiment : Bitcoin's key stakeholders have been largely responsible for the secondary wave of market cap growth over the past 5 weeks. Wallets holding between 10-10K BTC accumulated 154.16K coins (0.665% of supply) since Feb. 4th, currently worth over $10.9B.
đ #Santiment : $LINK hit $15.82 this weekend for the first time since April 6, 2022. LINK supply on exchanges fell below 15% for the first time since February 5, 2020. At the same time, the number of wallets with coins >0 is approaching a historical maximum and amounts to 713.56 thousand.
đą #Santiment : this Fantom chart might seem cluttered. However, it's highlighting a significant uptick in whale transactions, a rise in FTM whale holdings, and a reduction in $FTM balances on exchanges.
These network trends are bolstering the recent upward movement in price, indicating a strong market sentiment.
These network trends are bolstering the recent upward movement in price, indicating a strong market sentiment.
đ #Santiment : $BTC has scraped above its new all-time high, reaching as high as $69.3K before markets quickly retraced -7% to $64K. With many limit orders being set just above previous ATH levels, the crowd's reaction to a retest will be telling.
