Bitcoin Falls Below $115,000 As Binance Buying Power Ratio Collapses
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....
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Bitcoin continues to face challenges sustaining its momentum after retreating from its recent all-time high above $124,000. At the time of writing, the asset trades around $111,090, reflecting a 10.5% decline from its peak and a 4.2% drop over the past week. The pullback highlights growing uncertainty among traders as buying pressure weakens, even while some on-chain indicators suggest potential accumulation. One such signal comes from Binance, the world’s largest cryptocurrency exchange by trading volume. Analyst Crazzyblockk, a contributor to CryptoQuant’s QuickTake platform, examined a....
XRP is trading below $1.40. Weeks of consolidation have given way to renewed selling pressure. And beneath the price action, the derivatives market is telling a story the spot chart cannot. A CryptoQuant analyst tracking Binance derivatives data has identified a deleveraging cycle of unusual magnitude: XRP’s Estimated Leverage Ratio on Binance has collapsed from […]
Bitcoin (BTC) fell to $114,386 earlier today, triggering nearly $300 million in liquidations over the past 24 hours as investor confidence in the asset remains shaky. Still, rising spot trading volumes offer a glimmer of hope that BTC may now be entering an accumulation phase. Is Bitcoin In The Accumulation Phase? According to a CryptoQuant Quicktake post by contributor Amr Taha, Binance’s BTC spot trading volume surpassed $6 billion on August 18 – one of the most significant spikes this month. Taha noted that such sudden spikes typically signal increased participation from....
After the market-wide downturn on October 10, the Bitcoin price showed no definite direction for the rest of the historically bullish month. At the moment, the premier cryptocurrency is struggling to gather any significant momentum to the upside. However, recent on-chain evaluation suggests that this period of relative silence could represent a springboard for the cryptocurrency’s sustained upswing. Sender/Receiver Ratio Falls To One-Year Low In a recent Quicktake post on the CryptoQuant platform, pseudonymous analyst CryptoOnchain shared an interesting insight into Bitcoin’s....
As Bitcoin (BTC) continues to trade in the high $100,000 range following the October 9 crypto market crash, some bullish signs are starting to emerge. Notably, stablecoin reserves on leading crypto exchanges like Binance are entering all-time high (ATH) territory, hinting at a potential rally for BTC. Stablecoin Reserves Rise – Will Bitcoin Benefit? According to a CryptoQuant Quicktake post by contributor PelinayPA, Binance stablecoin reserves are approaching ATH levels, indicating that investors are ready to deploy funds to accumulate BTC at current or lower levels. Related Reading:....