Author: Coin Viz
Glassnode’s Bitcoin Spot Cumulative Volume Delta (CVD) registered its highest reading of 2024 on March 11, hitting nearly $900 million. This surge in the CVD, which measures the net difference between aggressive buying and selling pressure across major crypto exchanges, signals a strong bullish sentiment in the Bitcoin market. Looking at the hourly data, a surge of over $360 million occurred around 7 am UTC as Bitcoin rose from $68,500 to $71,200 in the span of 3 hours. The remaining purchases occurred mostly before 8 pm UTC, with around $70 million in selling pressure occurring around 10 am, then again…
Quick Take The Bitcoin market is witnessing a profound shift with a substantial influx of Bitcoin returning to exchanges. Notably, this pivot unfolded on Dec. 6, a day that saw Bitcoin soaring beyond the $45,000 mark and later dipping as low as $40,000 on Dec. 11. During this interval, the market experienced a surge of approximately 23,000 BTC bouncing back onto exchanges, according to Coinglass. Glassnode echoes this data with a reported influx of a similar amount of Bitcoin. It is evident that Bitcoin is flowing back into exchanges, altering the market dynamics. A significant contribution to this shift stems…
Quick Take Analysis of recent data from Datamish offers an enlightening peek into the ongoing behavior of Bitfinex whales, particularly their continual move toward closing their longs. Previously observed by CryptoSlate last week, it was noted that these industry heavyweights closed Bitcoin longs of approximately 12,000 BTC. At November’s end, the total stood at an impressive 80,000 BTC. However, the last week has witnessed a further reduction of 3,500 BTC being closed, bringing down the total to 76,500 BTC. Alistair Milne, CIO of Altana Digital Currency Fund, also observed the movement in Bitfinex whales. “The legendary plunge protection squad trading…
Quick Take Data from SimilarWeb, as reported by The Block, paints an intriguing picture of the digital assets market across Europe, North America, and South America. The data reveals a significant increase in website visits to dominant exchanges in these regions during November 2023. With Kraken leading the way, the exchange volumes observed a notable surge in Europe, registering approximately $30 billion, marking it as the second-largest haul after March. Europe Based Customer Exchange Volume: (Source: The Block) Meanwhile, North America had a parallel narrative. Coinbase, the dominant exchange, witnessed $50 billion of the total $87 billion traded, making it…