Bitcoin’s Rally Looks Real, But Binance Data Says Demand Is Fading – Analyst ...
Bitcoin is holding above $75,000 as the market enters what is shaping up to be a decisive moment — a price level that has resisted multiple attempts at breakout and is now being tested again with a cleaner technical structure than any previous approach. The ascending pattern from the March lows looks constructive on the […]
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Bitcoin continues to trade below its recent highs, extending a pullback that began after reaching a record level above $124,000 last week. As of today, the cryptocurrency is priced around $115,347, reflecting a 7.7% drop from its peak and a 3% decline over the past week. The downturn highlights a loss of momentum, with market data suggesting reduced demand from buyers on major exchanges. According to recent analysis shared on CryptoQuant’s QuickTake platform, the decline is closely tied to shifting activity on Binance, the world’s largest crypto exchange by volume. The analyst, known by....
Following a new all-time high (ATH) of $126,199 on Binance, Bitcoin (BTC) is now consolidating in the low $120,000 range. Latest exchange data – such as Cumulative Volume Delta (CVD) Confirmation Score – suggests that BTC is benefitting from strong underlying demand. CVD Confirmation Shows Strong Demand For Bitcoin According to a CryptoQuant Quicktake post by contributor Arab Chain, Bitcoin’s CVD Confirmation Score – a 30-day rolling correlation between Bitcoin’s price and the CVD – is suggesting a strong resynchronization of the trend. Related Reading: Bitcoin....
The Bitcoin price went into the weekend firing on all cylinders after the release of weaker-than-expected inflation data in the United States. Interestingly, an analyst has come forward with data and a fresh angle on the influence of the US on BTC and the general cryptocurrency market. US Institutional Players: Major Catalysts Behind BTC’s Latest Rally Crypto analyst Burak Kesmeci revealed in a post on the social media platform X that the Coinbase Premium Index has been a major indicator steering the Bitcoin price over the past two years. The Coinbase Premium Index is an on-chain....
Earlier today, Bitcoin (BTC) slipped below $115,000 for the first time since August 6, raising concerns that the cryptocurrency’s bullish momentum may be fading. Against this backdrop, the Binance Buying Power Ratio suggests that demand for BTC could be weakening, potentially setting the stage for a deeper price correction. Binance Buying Power Ratio Raises Alarms According to a CryptoQuant Quicktake post by contributor Crazzyblockk, the Binance Buying Power Ratio serves as a reliable indicator of overall market health. The analyst explained that the current reading points to a possible....
Bitcoin price reached a new all-time high at $35,776 and has stagnated since. Here is a recap of the likely bear and bull cases for BTC. Bitcoin price reached a new all-time high at $35,776 on Binance on Jan. 6. Following the explosive overnight uptrend of Bitcoin (BTC), on-chain analysts are generally optimistic about the short-term trajectory. While many agree that the rally is beginning to show signs of overheating, it is not overbought just yet.The major catalyst behind Bitcoin’s strong rally has been the continuous increase in buyer demand on Coinbase. Throughout the past week,....