Bitblitz Crypto
Closed channel
Bitbod's BitBlitz_Crypto Request To Join Get Crypto Insights and Trading Signals In Easiest Way Ever On Planet Join Today To Grow Your Capital
Show more5 103
Subscribers
No data24 hours
-277 days
-14830 days
Posts Archive
5 103
Second Largest Institutional Accumulation of 2024
π Major players are capitalizing on the dip in Bitcoin, amassing 100,000 BTC recently. This significant accumulation indicates robust institutional confidence in Bitcoin's future prospects.
5 103
π Since May 2021, the average number of addresses selling BTC daily has plummeted from 234K to 22K.
β¨ This sharp decline highlights BTC's high value to holders, indicating a bullish sentiment even amid the current market correction.
5 103
π Most Popular Cryptocurrencies by Region in 2024. It's fascinating to observe the varied preferences worldwide! π
- North America: Bitcoin, Solana, Ethereum
- Europe: Bitcoin, NOT, Ethereum
- Asia: Bitcoin, NOT, PEPE
- South America: Bitcoin, Dogecoin, Solana
- Africa: NOT, Bitcoin, PICKLE
- Australasia: Bitcoin, Solana, Ethereum
5 103
π Realized losses over the last 30 days total $403M, mirroring the early COVID market crash losses.
π However, these losses are much smaller compared to the post-China mining ban (3.3x higher) and the Luna ecosystem crash (4.6x higher).
5 103
π Since the market correction began, Binance has boosted its reserves by 41K BTC.
π This partly explains who was buying while others were selling.
5 103
π Permanent holders, mostly custodial wallets with no outflows, accumulated 85K Bitcoin in the last 30 days. These wallets are neither ETFs, exchanges, nor miners.
π During the same period, 16K BTC flowed out of ETF holdings. While some panic sell, others are seizing the opportunity to buy.
5 103
π Since MiCA (Markets in Crypto-Assets Regulation) came into effect for USDC, there's been a noticeable divergence between USDT and USDC.
π USDT supply is decreasing, while USDC supply is on the rise!
5 103
π Almost 40% of Ethereum's supply is locked up, with 28% staked and another 12% tied up in smart contracts and bridges. As the trading start of the ETH ETF approaches, institutional interest is poised to grow significantly.
π Meanwhile, the supply of Ethereum on exchanges continues to shrink, indicating a potential shortage in the market. These factors combined suggest that ETH is well-positioned for a price rally in the near future.
5 103
π Mt. Gox is set to distribute 142,000 bitcoins, and the German government is selling nearly 50,000 bitcoins.
π Ethereum is down due to these bitcoin sales, trading below the market-shocking ETF approval from just a month and a half ago.
5 103
β Miners continue to struggle with the hash rate.
π Their income per new block has dropped by 2.5 times, while their sales volume on exchanges has quadrupled, signaling a bearish trend.
5 103
π Digital asset investment products saw inflows totaling $441 million.
π Recent price declines, prompted by Mt. Gox and the German government's selling pressure, are likely being viewed as buying opportunities.
5 103
πCapital seems to be returning to the crypto market!
π If this trend persists and more stablecoins are minted in the coming weeks, the bottom may be in sight!
5 103
π° PreBit Weekly Digest π
Discover What's Trending This Week:
π NFT Sales Plunge 44%
πΌ Abra Launches Treasury Service for Corporate Crypto Holdings
π Circle Secures First MiCA-Compliant Stablecoin License
π° Justin Sun Offers to Buy Germany's $2.3B Bitcoin Holding
π Venezuela's Crypto Remittances Surge Amid Economic Crisis and Migration Exodus
π Bitcoin's $7 Billion Open Interest Decline: Decoding Market Dynamics
π MANTRA Partners with MAG to Tokenize $500M UAE Real Estate
Get Your Weekly Dose of Crypto Insights with PreBit! π
5 103
π Major Divergence Between Ethereum and Bitcoin!
π ETH is growing scarcer than BTC. The exchange balance for ETH has dropped to 10.189% while BTC's balance has risen to 15.086%.
5 103
π The debate continues on whether Bitcoin has entered a bear market or if its bull cycle has concluded. Historically, Bitcoin often encounters difficulties in the initial three to six months after a halving event, a trend consistent with its current performance.
π Despite the recent correction, BTC's path aligns with past cycles, suggesting that the current market dynamics are typical of a cycle rather than a clear indication of a bear market.
5 103
π₯ TRON Network Shows Resilience Amid Market Turbulence
π Despite market uncertainty and widespread sell pressure, TRONβs active user base has grown since the start of the year and remains near all-time highs.
5 103
π Stablecoins have overtaken Visa, which holds 40% of the global payment market!
π In Q2 2024, stablecoins handled a higher payment volume than Visa.
5 103
πΈ Bitcoin traders are realizing losses from selling at this point.
π Their margins are at -17%, the most negative since November 2022, shortly after the FTX collapse.
