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1SUI, BGB, ENA and VIRTUAL show strength as Bitcoin looks for direction2VanEck Argues That a Strategic Bitcoin Reserve Could Slash US Debt 36% by 20503Will HYPE Bulls Break Resistance After Its All-Time High?
Bitcoin's key signal flashes: historical data suggests a violent rise in 3-4 months
TechDev·2024/12/17 09:59
Short-term holders' MVRV indicator returns to key points: historical bull start signal reappears?
CryptoChan·2024/12/17 09:51
Bitget Token (BGB) Surges to New All-Time High with $4 Price Target in Sight
Cryptoticker·2024/12/17 09:49
Bitcoin (BTC) Futures Volume Surges to $82 Billion Amid Rising Short Positions
Bitcoin futures volume surged to $82.8M, but a rise in short positions suggests traders expect a correction. Will BTC drop or hit $116,000 next?
BeInCrypto·2024/12/17 08:30
Mt. Gox Moves Over $172 Million In Bitcoin To Unknown Wallets Shortly After BTC Set A New ATH Above $107K
Insidebitcoin·2024/12/17 08:11
Vana Mainnet Launches, $VANA Empowers Data as a New Asset Class in the Global AI Economy
During the Vana testnet, more than 1.3 million users contributed 6.5 million data points to train their personal AI models. On the mainnet, DataDAO will leverage $VANA tokens to allow users to collectively own, monetize, and manage their own data, taking a seat in the rapidly growing AI economy.
BlockBeats·2024/12/17 03:56
Flash
- 07:37Santiment: Over the past two weeks, most investors' sentiment has shifted from bullish to bearish, with a sharp decrease in interest in Meme coinsSantiment posted on X stating: "Over the past two weeks, the sentiment of most cryptocurrency investors has astonishingly shifted from bullish to bearish. As market values have corrected (especially for altcoins), interest in Meme coins has significantly decreased, while interest in Bitcoin has noticeably rebounded. This kind of mass FUD is a healthy part of the cycle, and patient traders can take advantage of this high level of 'blood in the streets' to profit."
- 07:36Bitwise: Bitcoin may continue to fall in the coming weeksBitwise Europe Research Director Andre Dragosch stated that he has been accurately bullish on BTC for several months, but after Bitcoin fell 8% last week, he warned that Bitcoin may further decline in the coming weeks. Andre said: "The macro situation is that the Federal Reserve is caught in a dilemma. Despite three consecutive rate cuts since September, the financial environment continues to tighten. At the same time, according to truflation's U.S. inflation index, real-time indicators of consumer price inflation have accelerated to new highs over the past few months. Therefore, we are likely to see more pain in the next few weeks. However considering BTC's ongoing tailwind due to supply shortage, this could be a buying opportunity."
- 07:02Analysis: The MVRV index indicates that BTC may strongly recover in the next few weeksAlthough Bitcoin may further pull back, there are signs that its good MVRV score and strong fundamentals will help drive it higher in the long term. According to CoinGlass data, the Market Value to Realized Value (MVRV) indicator shows that even if BTC hit a record high last week, its price is still undervalued. Its MVRV-Z score has dropped from last week's high of 3.3 to 2.84. Historically, an MVRV-Z score below 3.7 indicates that the asset is undervalued. Bitcoin's MVRV score was 3.03 during its major adjustment in March this year and was 7 during its previous major adjustment in January 2021. This suggests that this score indicates BTC could strongly recover in the coming weeks. In addition, BTC also has some strong fundamentals including circulating BTC quantity dropping to a multi-year low of 2.24 million coins as of September this year compared with over 2.72 million coins on exchanges earlier this year indicating more investors are buying BTC and storing them in self-custodial wallets with some accumulating ETF shares. Another potential catalyst for Bitcoin is stablecoin market value jumping from $122 billion a year ago to nearly $210 billion now while Bitcoin's annual inflation rate continues declining from nearly 12% peak in2015 down to current level at around1 .12%, due largely because of halving events and increased mining difficulty. Note: The MVRV-Z Score is an important measure of token market value relative value calculated by subtracting realized value from circulating market cap then dividing by standard deviation.
