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CryptoQuant
Bitcoin Approaches All-Time Highs as Daily OTC Desk Inflows Drop to Year's Lows: CryptoQuant
Over-the-counter desks hold 416,000 bitcoin valued around $30 billion, a level that has remained stagnant for the past month.
Bitcoin Bounce Above $62K Quickly Fades; Ether, XRP, ADA, LINK Lose as Torrid October Continues
The largest cryptocurrency's price is currently retesting its "Bull Market Support Band" trend indicator, where prices often rebounded from pullbacks during uptrends.
Bitcoin Trading on Korean Exchanges at Steepest Discount Since October 2023
Bitcoin is trading on Korean exchanges at the steepest discount since October 2023, according to CryptoQuant. The analytics firm’s Bitcoin Korea premium index, which measures the price gap between Korean and offshore exchanges, slid to negative -0.55, a sign that bitcoin has fallen out of favor in the country. CoinDesk's Christine Lee presents the "Chart of the Day."
Bitcoin's South Korea Discount Hits Highest Since October 2023
Smart traders have shifted to high-beta altcoins, data tracked by 10x Research show.
Bitcoin Decouples From Gold. Is Crypto in a Bear Market Again?
Data tracked by CryptoQuant shows that the correlation between bitcoin and gold has turned sizably negative of late. Gold has recently been pushing to new record highs above $2,500 per ounce while bitcoin struggles more than 20% below its record level of a few months ago. Has crypto fallen back to a bearish phase? CoinDesk's Jennifer Sanasie presents the "Chart of the Day."
Leverage in the Bitcoin Market Is Increasing Again as $58.5K Becomes Key Level
High-leverage liquidity in bitcoin is concentrated at around $58,500, according to Hyblock Capital.
Ethena's Yield Machine Sees $1B Outflows as Crypto Market Cools – But There's Good News
The protocol faced a challenging environment as yields from arbitraging bitcoin and ether funding rates tumbled to near-zero. Even so, its USDe token held steady to its $1 peg.
Crypto OTC Desks Now Hold Over $22B in Bitcoin: CryptoQuant
Miners often turn to OTC deals to sell bitcoin, CryptoQuant noted.
Bitcoin Above $60K as Key Stablecoin Metric Slides to 18-Month Low
Bitcoin recovered to above $60,000 after the debacle last week that saw prices drop below $50,000. According to data tracked by CryptoQuant, the "exchange stablecoins ratio," which measures the number of bitcoin held in wallets tied to centralized exchanges relative to stablecoins, dropped to its lowest since February 2023, an indication of reduced selling pressure. CoinDesk's Jennifer Sanasie presents the "Chart of the Day."
Bitcoin's Prospects Strengthen as Key Stablecoin Metric Slides to Lowest Level in 18 Months
The dwindling metric points to declining selling pressure in the bitcoin market.
