Bitcoin seller exhaustion hits 4-year low in 'typical' bear market move
Low volatility and high on-chain losses for Bitcoin, but overall UTXOs in loss still have a way to go to match previous market bottoms. Bitcoin (BTC) sellers may not have capitulated enough, but current trends are “typical” of the end of bear markets.According to data from on-chain analytics firm Glassnode, seller behavior suggests that a macro price bottom is forming.Analyst: Seller exhaustion "near" bear market lowsIn the latest hint that Bitcoin’s latest bear market is nearing its end, Glassnode has revealed that the network is currently weathering a “perfect storm” of low volatility....
Related News
What to Know: 1️⃣ Bitcoin’s rebound from extreme oversold RSI levels came with $206M in liquidations, signaling seller exhaustion rather than a confirmed trend reversal. 2️⃣ $XRP and especially $ZEC are leading the market bounce, with $ZEC up over 900% year-to-date as privacy-focused tokens outperform broader altcoin sectors. 3️⃣ Best Wallet Token underpins a non-custodial […]
A quant has explained using on-chain data why the current Bitcoin bear market looks to be different from the previous ones. Quant Suggests This Bitcoin Bear Market Is Unlike The Rest As explained by an analyst in a CryptoQuant post, the exchange reserve continuing to trend down since the price all-time high isn’t typical of […]
The Bitcoin cycle top would likely come in at price levels above $166,000 per coin if history repeats. After breaking out of the two-months ascending triangle, the price of Bitcoin (BTC) is firmly staying above $60,000. Current on-chain volume suggests investors are still strongly buying Bitcoin at current price levels.Furthermore, the current price is not even close to a short-term price top when comparing to historic network valuation multiples.BTC price bull run not overheated, investor activity showsWhile bear market bottoms often coincide with seller exhaustion, bull cycle tops happen....
In this episode of NewsBTC’s daily technical analysis videos, we examine the bloodbath across crypto today and the new record low for this Bitcoin bear market. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): November 8, 2022 It was a highly volatile day in crypto markets, led by a battle between FTX and Binance that ultimately might end with Binance owning FTX.com. The two company’s CEO’s public spat caused the already fearful crypto market to collapse further. As a result, Bitcoin price made a new bear market lower low, setting a new record low....
A bitcoin seller has been sentenced to one year and one day in jail for defrauding customers, according to a notice by the U.S. Department of Justice (DOJ). The man took money from customers but did not provide them with the agreed-upon bitcoin.
Fraudulent Bitcoin Seller Going to Jail
The U.S. Department of Justice (DOJ) announced last week that Michael Yusko has been sentenced to one year and one day in prison “for defrauding customers through unlicensed bitcoin business.”
The 47-year-old resident of New Orleans sold bitcoin and other....