Bitcoin
Three Bitcoin Metrics Are Flashing Bullish Signals for BTC, Says VanEck Executive Matthew Sigel
Published
3 days agoon
By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/06/Three-Bitcoin-Metrics-Are-.jpg)
One financial analyst says Bitcoin (BTC) is showing three important bullish metrics.
In a new interview with Scott Melker, VanEck Head of Digital Assets Matthew Sigel says recent indicators are making him bullish on BTC.
“I got renewed bullish on Tuesday just you know noticed some capitulation indicators in the space like realized losses by short-term holders for example over 500 million like that’s a top five print of all time for Bitcoin. And then I saw BTC volatility hit 21 that’s a 30-day annualized VA that is also a very low number…”
According to Sigel, the metrics that he sees flashing bullish for BTC are realized losses, volatility, and drawdown.
The realized losses metric is the difference between the buying and selling prices of BTC holders. The volatility refers to how prices are scattered historically for BTC. Drawdown refers to how far down BTC is from its peak of $73,737, reached four months ago.
BTC is worth $61,846 at time of writing.
Last week, Sigel also suggested that Ethereum (ETH) could explode by 4,225%.
In the report released earlier this month, VanEck set a base case target for Ethereum of $22,000, a potential gain of 518% from the current level. To hit the bull case target, Ethereum would have to appreciate by 4,225% from the current price.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
![](https://dailyhodl.com/wp-content/uploads/2018/06/Get-Alerts-728x90.png)
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
Source link
You may like
Binance Warns Of Delisting These Tokens, Price Drop Ahead?
Top cryptocurrencies to watch this week: MOG, KAS, FET
CurveDAO (CRV) Nears All-Time Low Following Whale Deposit to Binance: On-Chain Data
Japanese Tech Giant Sony Enters Crypto Exchange Business With This Acquisition
Bitcoin ATM installations reach 38k, below the all-time high
Mark Cuban and ChatGPT Predicts Best Pick
Bitcoin
Bitcoin ATM installations reach 38k, below the all-time high
Published
5 hours agoon
July 1, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-Bitcoin-BTC-ATM03.webp.webp)
![](https://crypto.news/app/uploads/2023/10/crypto-news-Bitcoin-BTC-ATM03.webp)
The global Bitcoin ATM market has seen significant growth. There are now over 38,000 Bitcoin ATMs worldwide, up from just over 10,000 in October 2020 and down by 2,000 from its all-time high (ATH) of nearly 40,000 in December 2022.
According to data available on Coin ATM Radar, the global tally of installed Bitcoin ATMs stands at 38,279 as of the latest count.
This expansion is driven by factors such as accessibility and ease of use, profitability for operators who earn transaction fees above the Bitcoin spot price, and favorable regulatory environments in many countries that support setup and expansion.
Additionally, Bitcoin ATMs provide enhanced privacy and security, allowing users to transact without divulging personal information and enabling direct deposits into digital wallets.
Despite their advantages, the industry faces challenges. Many operators lack the necessary experience, financial backing, or business acumen required for success, compounded by regulatory uncertainties in certain regions.
To address these issues, industry leaders emphasize the importance of public education on the benefits of cryptocurrencies and the need for reliable customer support. Building greater understanding and trust among users could encourage broader adoption of Bitcoin ATMs and digital assets.
As demand grows for convenient and secure cryptocurrency transactions, the Bitcoin ATM market is poised for further expansion. Strategic approaches and supportive regulatory frameworks could propel this industry into a pivotal role in the global adoption of digital assets.
Bitcoin holds steady at $60k
Bitcoin’s (BTC) price trajectory in 2024 has been marked by significant volatility and a bullish momentum. March saw Bitcoin achieving a new all-time high, surpassing $69,000 and briefly touching $73,000 before undergoing a correction.
This surge was driven by pivotal events this year: regulators approved the first spot Bitcoin ETFs in January, and April’s halving event reduced the block reward from 6.25 BTC to 3.125 BTC.
Experts anticipate a new growth cycle in the crypto market, potentially peaking between 2024 and 2025, in line with the four-year market cycle theory.
However, external factors such as global developments and regulatory changes could also influence Bitcoin’s price trajectory. Despite ongoing scrutiny of Bitcoin’s long-term prospects, its historical resilience suggests the possibility of a rebound.
Analysts maintain optimism regarding Bitcoin’s future price movements, with some forecasting it could surpass $80,000 in the coming years.
Over the past 60 days, the Bitcoin price has risen by 7.3%, climbing from approximately $57,000 to its current level of $61,532.
Source link
Bitcoin
Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs
Published
15 hours agoon
June 30, 2024By
adminJune was much rougher for Bitcoin than many expected at the beginning of the month. This is because the price of Bitcoin virtually declined throughout the month, leaving many investors, especially short-term holders, disappointed.
Related Reading
However, despite the price decline, on-chain data suggests that Bitcoin adoption is growing. New data shows the number of new Bitcoin addresses being created has surged to the highest level in two months. This growth suggests the long-term prospects for Bitcoin remain strong.
New BTC Addresses Surge To 2-Month High
Despite the price slump, the network is exhibiting a promising trend that signals future growth for the world’s largest cryptocurrency. According to Glassnode chart data initially shared on social media platform X by crypto analyst Ali Martinez, new BTC wallet addresses have risen steadily over the past week to reach 352,124, their highest level since April.
Interestingly, the chart shows that the recent uptick in new addresses contrasts with a larger decrease in the creation of new addresses since November 2023. This new increase points to an influx of new users entering the crypto space. As more people adopt Bitcoin, demand will inevitably grow, which is a catalyst for price surges down the line.
Furthermore, Martinez suggested that the uptick in new addresses is from retail investors making a comeback. While institutional investors often drive major market moves, retail interest is crucial for Bitcoin’s mainstream adoption.
Retail #Bitcoin investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April. pic.twitter.com/GFOHnsokz0
— Ali (@ali_charts) June 29, 2024
A major part of the increase in new addresses can be attributed to recent adoption in the Brazilian market. Nubank, Brazil’s biggest neobank, recently announced plans to integrate Bitcoin’s lightning network into its services. As the largest fintech bank in Latin America, this integration could potentially expose a significant portion of its 100 million customers to the digital asset.
What’s Next For Bitcoin?
At the time of writing, Bitcoin was trading at $61,446. The leading digital asset has lost over 10% of its market cap in a 30-day time frame and the bulls are struggling to break above $61,000. This downtrend could be attributed to a selloff by miners and many long-term holders. Specifically, around 40,000 BTC were sold by long-term holders in June.
Bear markets are temporary. Bull runs will return. It’s just a matter of when, not if. With the second half of the year now approaching, time can only tell how the price of Bitcoin unfolds. Of course, new wallet addresses don’t directly impact price, but they are a leading indicator of growing Bitcoin adoption.
Related Reading
This adoption and demand, coupled with a recent decrease in the number of new Bitcoins entering the market, points to an increase in the price of Bitcoin in July.
Featured image from CNBC, chart from TradingView
Source link
bear market
Bitcoin ‘tends to bounce back’ in July after negative June
Published
20 hours agoon
June 30, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/06/crypto-news-bear-with-bitcoin-option01.webp.webp)
Crypto market analyst Ali Martinez expects a price rebound for the Bitcoin (BTC) price in July after a month of bearish momentum.
According to Martinez’s X post on Sunday, the Bitcoin price recorded an average price rebound of 7.98% in July after a “negative June.” Data shows that the BTC price plunged by 9.25% over the past 30 days.
Historically, when #Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, $BTC has shown an average return of 7.98% and a median return of 9.60% during this month. pic.twitter.com/fJaIwc7Eob
— Ali (@ali_charts) June 30, 2024
Bitcoin recorded a 30-day-high of $71,907 and a low of $58,554 in the mentioned timeframe.
Moreover, data provided by Martinez shows that Bitcoin’s largest average price return of 46.81% happened in November.
Bitcoin gained a slightly bullish momentum over the past 24 hours, rising by 0.94%. The flagship cryptocurrency is currently trading at $61,450 at the time of writing. BTC’s market cap again surpassed the $1.2 trillion mark with a daily trading volume of $13.1 billion.
![Bitcoin 'tends to bounce back' in July after negative June: Analyst - 1](https://crypto.news/app/uploads/2024/06/Screenshot-2024-06-30-135340-1024x543.png)
Due to the declining trading volume, lower price volatility and liquidations would be expected for Bitcoin.
On the other hand, Billionaire entrepreneur and Bitcoin supporter Peter Thiel believes that the BTC price might not witness a dramatic rally. Thiel’s comments come while he still holds a portion of Bitcoin.
Last year, Thiel’s Founders Fund invested roughly $200 million in Bitcoin when the asset’s price was hovering at around $30,000.
Bitcoin’s downward momentum started on June 10 when the spot BTC exchange-traded funds (ETFs) in the U.S. recorded their first set of net outflows in one month.
Last week, spot BTC ETFs saw $137.2 million in net inflows in their last four trading days. This pushed the total amount of ETF net flows past the $14.5 billion mark.
Source link
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/binance3-80x80.jpg)
Binance Warns Of Delisting These Tokens, Price Drop Ahead?
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-Kaspa-coin04.webp-80x80.webp)
Top cryptocurrencies to watch this week: MOG, KAS, FET
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/top-curve-crv-yet-80x80.jpg)
CurveDAO (CRV) Nears All-Time Low Following Whale Deposit to Binance: On-Chain Data
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/Sony-crypto-exchange-Amber-Group.webp-80x80.webp)
Japanese Tech Giant Sony Enters Crypto Exchange Business With This Acquisition
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-Bitcoin-BTC-ATM03.webp-80x80.webp)
Bitcoin ATM installations reach 38k, below the all-time high
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/1229228819.webp-80x80.webp)
Mark Cuban and ChatGPT Predicts Best Pick
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/notcoin-lost-dogs-gID_7-80x80.png)
This Week in Crypto Games: Dr. Disrespect Dumped, Pixelverse and Catizen Tokens, Notcoin ‘Fresh Start’
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-nft-option13.webp-80x80.webp)
June sales drop 47% but there are more buyers and sellers
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/TONCOIN-1-1-1-1-80x80.jpg)
Toncoin Whales Just Started Buying This Coin; Is $10 Next?
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/7QXPPA62XZEJFMI7UVEMNWIWO4-80x80.jpg)
SEC Sues Consensys Over MetaMask Staking, Broker Allegations
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/crypto-news-Cryptocurrency-after-the-European-Unions-MiCA-regulation-option01.webp-80x80.webp)
Cryptocurrency after the European Union’s MiCA regulation
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/Charles-Hoskinson-80x80.jpg)
Charles Hoskinson Flags Major Ongoing AI Censorship Trend
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/crypto-news-raboo-option02.webp-80x80.webp)
Catch up on Render and BNB price spike; enhance wallets with top analyst pick
Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/XRP-Price-Recover-1-1-80x80.jpg)
XRP Price May Soar Past $6, Here’s Why
![](https://blocknewsmedia.com/wp-content/uploads/2022/06/1656437120_shutterstock_1736086877-80x80.jpg)
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
![](https://blocknewsmedia.com/wp-content/uploads/2022/07/coinbase-shutterstock_1866715066-80x80.jpg)
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
BNM DAO Token Airdrop
![](https://blocknewsmedia.com/wp-content/uploads/2022/06/btcsmall-1-1-80x45.png)
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
![](https://blocknewsmedia.com/wp-content/uploads/2023/03/ETH-NFT-shutterstock_1944183022-80x80.jpg)
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
New Minting Services
![](https://blocknewsmedia.com/wp-content/uploads/2022/10/maxresdefault_live-80x80.jpg)
Block News Media Live Stream
![](https://blocknewsmedia.com/wp-content/uploads/2023/02/SEC-shutterstock_1625495629-80x80.jpg)
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs
![](https://blocknewsmedia.com/wp-content/uploads/2022/08/Green-mining-Shutterstock_1981391501-80x80.jpg)
Friends or Enemies? – Blockchain News, Opinion, TV and Jobs
![](https://blocknewsmedia.com/wp-content/uploads/2022/06/0BK4KOQfADYNvpEKU-80x80.png)
Enjoy frictionless crypto purchases with Apple Pay and Google Pay | by Jim | @blockchain | Jun, 2022
![](https://blocknewsmedia.com/wp-content/uploads/2023/02/maxresdefault_live-80x80.jpg)
Block News Media Live Stream
![](https://blocknewsmedia.com/wp-content/uploads/2023/09/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zZmE3ZTQzYzVmNTkwYTA0ZDA1MWZlY2EwZGY4YjA2OS5qcGc-80x80.jpg)
How Web3 can prevent Hollywood strikes
![](https://blocknewsmedia.com/wp-content/uploads/2022/07/1657766796_maxresdefault_live-80x80.jpg)
Block News Media Live Stream
![](https://blocknewsmedia.com/wp-content/uploads/2023/07/iStock-1349331161-80x80.jpg)
XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board
![](https://blocknewsmedia.com/wp-content/uploads/2023/02/maxresdefault_live-80x80.jpg)
Block News Media Live Stream
Trending
- Altcoins2 years ago
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
- Binance2 years ago
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
- Uncategorized3 years ago
BNM DAO Token Airdrop
- Bitcoin miners2 years ago
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
- BTC1 year ago
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
- Uncategorized3 years ago
New Minting Services
- Video2 years ago
Block News Media Live Stream
- Bitcoin1 year ago
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs