XRP Market Structure “Very Similar” To April 2022, Glassnode Says
As XRP slides below $1.60, on-chain analytics firm Glassnode has highlighted how the current structure is looking similar to that of April 2022. XRP Is Fast Approaching Its Realized Price In a new post on X, Glassnode has talked about where XRP is currently trading with respect to its Realized Price. This on-chain indicator measures the cost basis or acquisition price of the average address on the blockchain. When the spot price of the cryptocurrency is trading above this metric, it means the investors as a whole can be assumed to be in a state of profit. On the other hand, it being below....
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On-chain analytics firm Glassnode has pointed out how the current Bitcoin market is reminiscent to the structure from the first quarter of 2022. Bitcoin Dynamics Are Currently Looking Similar To Early 2022 Bear Market In its latest weekly report, Glassnode has discussed about how the broader Bitcoin market structure is starting to resemble Q1 2022. First, the analytics firm has shared the data of its Supply Quantiles Cost Basis Model, highlighting price levels that correspond to a certain degree of investor profitability. In the chart, three supply quantiles are listed: 0.75, 0.85, and....
Bitcoin has an extreme potential to hold $47,000 as its support level, according to Rafael Schultze-Kraft, the co-founder/CTO of blockchain analytics platform Glassnode.
With the new year approaching, some analysts forecasted a “very bullish” 2025 for Altcoins. The sector is expected to explode soon and kickstart the long-awaited “Altseason” after retesting a key support level. Related Reading: Ethereum Stays Within Symmetrical Pattern – Analyst Sets ETH Target Altcoins Retest Key Support Level Amid the recent market’s performance, many Altcoins have struggled to record significant gains. However, several market watchers forecasted the start of the altcoin will come as soon as January 2025. Fueled by the post-US election pump, the total crypto market....
BTC price took a sharp tumble below a key support level, but data shows April 6’s dip could be another buying opportunity for bulls. Bitcoin (BTC) has been struggling to break the $47,000 resistance and even with April 6’s drop below $44,000, there is still mounting evidence that the market structure is healthy. On Dec. 3, 2021, Bitcoin initiated a 25.6% correction that lasted 18 hours and culminated with a $42,360 low. Four months later, the price remained 18% below the $56,650, closing on Dec. 2, 2021.Much has changed over that period, and hard evidence comes from other sections of the....
Latest data from Glassnode reveals that around 14% of the Bitcoin supply has been redistributed since the July of this year. 14% Of The Total Bitcoin Supply Has Changed Hands Since July 2022 As per the latest weekly report from Glassnode, around 20.1% of the supply now has a cost-basis in the historical bottom formation […]