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What to Make of Bitcoin's Latest Rally
Bitcoin rallied coming off extremely oversold conditions, according to data analytics firm Glassnode. Is it a bear market relief rally or the start of a sustained bullish charge? Plus, insights into movement on bitcoin's active addresses and block size as "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Arcane Research: Decline in WBTC Likely Related to Celsius Loan Payment
Glassnode data shows the number of wrapped bitcoin (WBTC) declined to around 236,000, the lowest level since bitcoin (BTC) hit all-time highs in late 2021. According to Arcane Research, the drop could be related to Celsius repaying a WBTC loan as the troubled lender filed for bankruptcy. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Big Outflows Spotted From Exchanges to Private Wallets
Big outflows were spotted Monday from exchanges to private wallets, according to data from Glassnode. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Bitcoin Traders Prepare for a Tumultuous March
New data by Glassnode shows bitcoin traders are getting ready to ride out a rocky month ahead. Traders are pricing in uncertainty via the derivatives market, but on-chain supply of the crypto remains stable indicating that the market is ready to “ride out the storm ahead.”
Traders Increasing Leverage on BTC Trades?
A new chart presented by Glassnode on bitcoin's perpetual futures open interest vs. bitcoin's price suggests that traders are increasing their leverage on BTC trades once again. Head of Market Insights at Genesis Trading Noelle Acheson digs into the data and its implications for the recent price movements in the bitcoin market.
What the ‘Smart Money’ Flow Index Reveals About Bitcoin
Glassnode data shows the so-called smart money flows out of exchanges continue to reign supreme. Generally, “smart money” dominates exchange flows, according to Zerocap. If bitcoin is leaving exchanges, it can indicate an intention to hold. Conversely, when bitcoin moves onto exchanges, it can indicate an intention to sell.
