Bitcoin Pain Deepens: 57% Of Invested Capital Now Underwater

Notable crypto market analyst Willy Woo has just issued an appraisal on Bitcoin’s performance in the coming months or maybe year. His analysis shows that the coin has not bottomed out yet. On Twitter, he said: “In terms of max pain, the market has not felt the same pain as prior bottoms. We can see this in the blue line (supply in profit by @glassnode). We have only reached 52% of coins being underwater so far. Prior bottoms were 61%, 64%, 57%,” Woo said on his recent tweet detailing his analysis.” Crypto Market And Its Correlation With Stocks Bitcoin is highly associated with....

It may be a case of "so near yet so far" when it comes to June's multi-year low being the next BTC price floor, warns Willy Woo. Bitcoin's (BTC) market behavior is not yet “synonymous” with previous bear market bottoms, one of the leading crypto analysts argues.In a Twitter thread on Sept. 14, statistician Willy Woo, creator of data resource Woobull, offered three examples of why BTC/USD should still have further to fall.Despite many calling a new macro price bottom during June’s trip to $17,600, not everyone is confident that Bitcoin will avoid a retest.For Woo, there is still reason to....

There are now more than 17.5 million Bitcoin wallets underwater with little faith in a rebound coming from analysts in the face of a surging dollar. Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses.Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month.Over 17.5 million wallets in the redBTC/USD has seen five trips below $21,000 since the end of Aug. 19, data from Cointelegraph Markets Pro and TradingView shows, and the quest for support is already making....

Leading investment bank Morgan Stanley has once again deepened its crypto bet through Grayscale Bitcoin Trust. The megabank had been invested in crypto through the trust for a while now across various funds. In a recent SEC filing, the bank revealed that it had dramatically increased its holdings in the trust over the summer. When […]

Veteran investor Mark Mobius, the founder of Mobius Capital, explains why the price of bitcoin is rallying as the Russia-Ukraine crisis deepens. “Bitcoin is showing strength now because the Russians have a way of getting money out,” he said. Mark Mobius on Why Bitcoin’s Price Is Rising The founder of Mobius Capital Partners, Mark Mobius, explained why the price of bitcoin has been rallying in an interview with CNBC Tuesday as the crisis between Russia and Ukraine escalates. Prior to starting his own company, Mobius was executive chairman of....