Grayscale's recent report suggests Bitcoin is currently undervalued based on on-chain data, though it hasn't reached the deep discount levels seen in past crashes like after the FTX collapse. Their composite valuation indicator, which combines unrealized profits, price relative to long-term benchmarks, and coin-days destroyed, shows Bitcoin's price below its long-term average. Despite the recent dip below $60,000, Grayscale believes this bear market may be shallower due to factors like a muted bull market and improved market structure. Key upcoming factors that could influence Bitcoin's price include regulatory developments around the CLARITY Act and the ability of leveraged holders to manage their positions to avoid forced liquidations.
Bitcoin fell 2.4% to $61,647 as whale wallets tested exchange inflows, indicating cautious profit-taking rather than broad accumulation. The total crypto market cap remains steady at $2.2 trillion with Bitcoin dominance at 56%, limiting altcoin gains...
Bitcoin fell to $59,130 on June 5, causing $1.46 billion in long position liquidations and widespread crypto market panic. Meanwhile, Bittensor (TAO) reached a critical long-term support level around $194, showing potential for a bullish rebound if B...
Bitcoin and gold prices both fell in June, with Bitcoin dropping over 16% to test the key $60,000 support level amid geopolitical tensions and rising interest rate expectations. The Bitcoin-to-gold ratio is also declining, indicating investors are re...
Bitcoin dropped about 7% to $61,233 and gold fell below $4,200 per ounce amid concerns over rising US inflation and geopolitical tensions after US strikes on Iranian targets. The recent Bitcoin rally was driven by short liquidations exceeding $500 mi...
Ethereum's price fell 4% to about $1,628 following a broad cryptocurrency market correction that wiped $1.1 billion in liquidations in 24 hours. The $1,700 level, once support, is now resistance, signaling bearish pressure with potential to test $1,6...
