Wednesday, August 6, 2025
Coin Insights
No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    CryptoPunks and Pudgy Penguins Draw Major Sales

    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

  • Gaming
    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Blockchain Bookmakers: A New Era of Fair and Secure

    Blockchain Bookmakers: A New Era of Fair and Secure

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What’s the Difference & Which Is Better to Trade?

    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    How It Works and What to Watch Out For

    How It Works and What to Watch Out For

    Crypto Risk Management Strategies for Trading (2025)

    Crypto Risk Management Strategies for Trading (2025)

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Is DeFi Staking? Everything You Need to Know

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    CryptoPunks and Pudgy Penguins Draw Major Sales

    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

  • Gaming
    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Blockchain Bookmakers: A New Era of Fair and Secure

    Blockchain Bookmakers: A New Era of Fair and Secure

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What’s the Difference & Which Is Better to Trade?

    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    How It Works and What to Watch Out For

    How It Works and What to Watch Out For

    Crypto Risk Management Strategies for Trading (2025)

    Crypto Risk Management Strategies for Trading (2025)

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Is DeFi Staking? Everything You Need to Know

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
No Result
View All Result
Coin Insights
No Result
View All Result
Home Bitcoin

Bitcoin: Why a price prediction of $58K isn’t totally out of question

March 20, 2024
in Bitcoin
23
Bitcoin: Why a price prediction of $58K isn’t totally out of question
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
  • Bitcoin posted losses measuring 14% within the past six days.
  • The NUPL usually does not stay above +0.6 for a prolonged period.

Bitcoin [BTC] recorded losses amounting to 7.2% in ten hours before press time. The BTC pullback was live, as AMBCrypto reported earlier. However, the $64.8k support region did not halt the bearish advance.

An analyst posted on CryptoQuant’s Insights page about how the current Bitcoin uptrend could be nearing its end. They explored the NUPL metric and what it could mean for BTC investors.

Bull run conditions even before the halving event

BTC NUPL

Source: CryptoQuant

The Net Unrealized Profit/Loss (NUPL) is a useful tool for identifying when investors are in profit. Its calculation involves the realized cap of Bitcoin to understand investor profitability better.

The analyst noted that the NUPL metric rarely stays above the 0.6 mark for long. A +0.6 reading on this metric is usually followed by a sharp price correction, although this trend gets bucked amid bull runs.

From December 2020 to April 2021, the NUPL was consistently above +0.6 as Bitcoin rallied from $19k to $60k.

On the 28th of February, the NUPL climbed above +0.6 once more. Bitcoin sailed past $73k but was unable to hold on. Since the 16th of March, the NUPL has fallen below +0.6, and the price was at $63k at press time.

BTC Netflow

Source: CryptoQuant

The short-term outlook favored a deeper correction toward $58k. On the other hand, the past week saw Bitcoin continue to leave exchanges. This was a sign of accumulation.

The BTC netflow chart showed more BTC leaving centralized exchanges than entering them even when prices began to pull back from the $73k mark.

See also  Bitcoin ETF outflows point to shifting sentiment: Is Ethereum set to gain?

Long-term holders maintained firm conviction

BTC Spent Output

Source: CryptoQuant

The spent output age bands saw a large spike in the spent output of holders whose BTC were aged just 1-3 months on March 13th. This meant short-term holders booked profits. Similar spikes in late February and early March also noted holders selling as prices rose higher.

However, only a few of the longer-term holders whose coin age was a year or longer did not relinquish their assets as prices fell below the $70k level recently. This showed faith in Bitcoin.


Is your portfolio green? Check the BTC Profit Calculator


But it must be remembered that their behavior is not a perfect guide to Bitcoin’s trends- sometimes, the long-term holders panic and sell en masse even when BTC makes a long-term low.

A recent AMBCrypto report explored how the current retracement could play out in the next 4-6 weeks. The Bitcoin halving cycle appeared to be repeating itself, but long-term investors need not worry about the short-term price volatility.

Next: FET, RNDR, TAO prices skyrocket as U.S. leads 2024’s AI token scene

READ ALSO

Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

  • Bitcoin posted losses measuring 14% within the past six days.
  • The NUPL usually does not stay above +0.6 for a prolonged period.

Bitcoin [BTC] recorded losses amounting to 7.2% in ten hours before press time. The BTC pullback was live, as AMBCrypto reported earlier. However, the $64.8k support region did not halt the bearish advance.

See also  How Bitcoin can help Solana rise to a new ATH

An analyst posted on CryptoQuant’s Insights page about how the current Bitcoin uptrend could be nearing its end. They explored the NUPL metric and what it could mean for BTC investors.

Bull run conditions even before the halving event

BTC NUPL

Source: CryptoQuant

The Net Unrealized Profit/Loss (NUPL) is a useful tool for identifying when investors are in profit. Its calculation involves the realized cap of Bitcoin to understand investor profitability better.

The analyst noted that the NUPL metric rarely stays above the 0.6 mark for long. A +0.6 reading on this metric is usually followed by a sharp price correction, although this trend gets bucked amid bull runs.

From December 2020 to April 2021, the NUPL was consistently above +0.6 as Bitcoin rallied from $19k to $60k.

On the 28th of February, the NUPL climbed above +0.6 once more. Bitcoin sailed past $73k but was unable to hold on. Since the 16th of March, the NUPL has fallen below +0.6, and the price was at $63k at press time.

BTC Netflow

Source: CryptoQuant

The short-term outlook favored a deeper correction toward $58k. On the other hand, the past week saw Bitcoin continue to leave exchanges. This was a sign of accumulation.

The BTC netflow chart showed more BTC leaving centralized exchanges than entering them even when prices began to pull back from the $73k mark.

Long-term holders maintained firm conviction

BTC Spent Output

Source: CryptoQuant

The spent output age bands saw a large spike in the spent output of holders whose BTC were aged just 1-3 months on March 13th. This meant short-term holders booked profits. Similar spikes in late February and early March also noted holders selling as prices rose higher.

See also  BlackRock rules out Solana ETF, sticks to Bitcoin and Ethereum - What now?

However, only a few of the longer-term holders whose coin age was a year or longer did not relinquish their assets as prices fell below the $70k level recently. This showed faith in Bitcoin.


Is your portfolio green? Check the BTC Profit Calculator


But it must be remembered that their behavior is not a perfect guide to Bitcoin’s trends- sometimes, the long-term holders panic and sell en masse even when BTC makes a long-term low.

A recent AMBCrypto report explored how the current retracement could play out in the next 4-6 weeks. The Bitcoin halving cycle appeared to be repeating itself, but long-term investors need not worry about the short-term price volatility.

Next: FET, RNDR, TAO prices skyrocket as U.S. leads 2024’s AI token scene
Tags: 58KBitcoinIsntPredictionPriceQuestiontotally

Related Posts

Bitcoin must pass $63.2k soon, for THIS vital reason
Bitcoin

Bitcoin nears $91K as buying pressure soars, but challenges emerge

November 17, 2024
Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice
Bitcoin

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

November 17, 2024
FLOKI’s price profits from Coinbase hype, but here’s why all’s not done just yet
Bitcoin

FLOKI’s price profits from Coinbase hype, but here’s why all’s not done just yet

November 17, 2024
Bitcoin – Here’s what its new ‘5-year low’ means for BTC’s run to $100K
Bitcoin

Bitcoin – Here’s what its new ‘5-year low’ means for BTC’s run to $100K

November 16, 2024
Will miner selling pressure be Bitcoin’s hurdle to $100K?
Bitcoin

Will miner selling pressure be Bitcoin’s hurdle to $100K?

November 16, 2024
Bitcoin above $90K – $5.42 billion in profits despite rising sell pressure means…
Bitcoin

Bitcoin above $90K – $5.42 billion in profits despite rising sell pressure means…

November 16, 2024
Next Post
“The SEC’s Conduct Constitutes a Gross Abuse of Power“ — a US District Court Judge

“The SEC’s Conduct Constitutes a Gross Abuse of Power“ — a US District Court Judge

Comments 23

  1. 770yb says:
    2 months ago

    where can i buy clomiphene price can i purchase cheap clomid without a prescription can i order generic clomiphene without a prescription can i purchase clomid for sale cost generic clomid without insurance how to get generic clomiphene without dr prescription where buy cheap clomid tablets

    Reply
  2. acheter cialis discount says:
    2 months ago

    I couldn’t hold back commenting. Well written!

    Reply
  3. can you drink with flagyl says:
    2 months ago

    More posts like this would make the online play more useful.

    Reply
  4. doyb0 says:
    2 months ago

    order azithromycin sale – purchase flagyl buy flagyl no prescription

    Reply
  5. ykla5 says:
    2 months ago

    order semaglutide 14 mg pill – buy generic periactin 4 mg generic cyproheptadine 4mg

    Reply
  6. hn10h says:
    2 months ago

    buy domperidone generic – buy tetracycline 500mg sale cyclobenzaprine 15mg us

    Reply
  7. 03ot1 says:
    1 month ago

    augmentin price – atbio info generic acillin

    Reply
  8. 9sxih says:
    1 month ago

    buy esomeprazole 20mg without prescription – anexamate.com buy esomeprazole 20mg pill

    Reply
  9. dv0mm says:
    1 month ago

    buy coumadin for sale – https://coumamide.com/ cozaar 50mg us

    Reply
  10. ecaov says:
    1 month ago

    buy meloxicam 15mg online cheap – moboxsin purchase meloxicam online

    Reply
  11. 010a1 says:
    1 month ago

    buy prednisone 5mg – https://apreplson.com/ prednisone 20mg ca

    Reply
  12. 882by says:
    1 month ago

    amoxil over the counter – https://combamoxi.com/ order generic amoxil

    Reply
  13. m5dla says:
    4 weeks ago

    cost fluconazole 200mg – oral fluconazole forcan order online

    Reply
  14. sa7sb says:
    4 weeks ago

    cost cenforce – how to buy cenforce cenforce 50mg price

    Reply
  15. m5kc8 says:
    3 weeks ago

    cheap generic cialis – ciltad gn cialis tadalafil 20 mg

    Reply
  16. 4eqfv says:
    3 weeks ago

    cialis price canada – https://strongtadafl.com/# mambo 36 tadalafil 20 mg

    Reply
  17. izsla says:
    3 weeks ago

    buy cheap viagra uk – on this site 50 mg sildenafil price

    Reply
  18. Connielet says:
    3 weeks ago

    This website positively has all of the information and facts I needed adjacent to this thesis and didn’t identify who to ask. propecia en farmacias

    Reply
  19. sanr7 says:
    3 weeks ago

    This is a topic which is forthcoming to my heart… Diverse thanks! Quite where can I upon the phone details an eye to questions? order neurontin 600mg pills

    Reply
  20. Connielet says:
    2 weeks ago

    Thanks on sharing. It’s first quality. https://ursxdol.com/propecia-tablets-online/

    Reply
  21. xncej says:
    2 weeks ago

    This is a topic which is forthcoming to my heart… Many thanks! Unerringly where can I upon the connection details due to the fact that questions? https://prohnrg.com/

    Reply
  22. oif7f says:
    2 weeks ago

    More posts like this would make the blogosphere more useful. https://aranitidine.com/fr/acheter-fildena/

    Reply
  23. Connielet says:
    2 days ago

    With thanks. Loads of erudition! https://ondactone.com/spironolactone/

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024

Don't miss a single story

Subscribe to our free Newsletter

EDITOR'S PICK

Analyst Predicts XRP Rally To $1.20 With This Critical Condition

Analyst Predicts XRP Rally To $1.20 With This Critical Condition

March 30, 2024
Litecoin records its first big milestone in 2024, but there is a problem

Litecoin records its first big milestone in 2024, but there is a problem

February 17, 2024
Bitcoin whales unload over $2 bln in BTC – Why?

Is LINK reacting favorably to Chainlink’s latest upgrade?

November 29, 2023
Dogecoin Whales Go On Massive Buying Spree, Here’s How Much They’ve Bought

Dogecoin Whales Go On Massive Buying Spree, Here’s How Much They’ve Bought

March 24, 2024

About

Dive into the world of cryptocurrency. Our news site offers insights, trends, and updates to guide your journey into the realm of digital finance.

Follow us

Categories

  • AI
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • DeFi
  • Ethereum
  • Gaming
  • Guides
  • Metaverse
  • Mining
  • NFT
  • Other
  • Web 3

Recent Posts

  • A Phenomenal 671 BTC Haul in July
  • Cango posts ‘massive’ July Bitcoin haul, boosting corporate treasury
  • Impressive 467 BTC Production in July

Newsletter

Don't miss a single story

Subscribe to our free Newsletter

  • Contact
  • Disclosure
  • Privacy Policy
  • Terms & conditions

© 2023 Coininsights.com - All rights reserved.

No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
  • Metaverse
  • NFT
  • Gaming
  • Blockchain
  • AI
  • Guides
  • Analysis
  • Coin Marketcaps

© 2023 Coininsights.com - All rights reserved.