Bitcoin surged to $79,488 before settling around $78,223, fueled primarily by increased futures trading rather than strong spot market demand. CryptoQuant's CEO Ki Young Ju highlighted that despite significant institutional purchases, including $255 million by Michael Saylor's firm and over $2.6 billion via Bitcoin ETFs this month, on-chain data shows negative spot demand. The rally was further accelerated by a short squeeze, with over $1.19 billion in short liquidations across Bitcoin and Ethereum. However, Ju cautions that a sustainable bull market requires both futures and spot demand to recover, which is not yet evident.
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
Ethereum futures long positions among top traders increased by over 3 percentage points across both USDT- and coin-margined markets, indicating a broad-based shift in short-term sentiment. This rise suggests heightened attention on ETH compared to ot...
