Latest news with #CryptoQuant
Yahoo
3 days ago
- Business
- Yahoo
Michael Saylor 'hacked' US capital markets, claims top analyst
An on-chain analyst, Ki Young Ju, made a post on X that has reignited discussions about MicroStrategy Executive Chairman Michael Saylor's Bitcoin strategy, calling it a methodical "hacking" of U.S. capital market liquidity into the crypto ecosystem. "Saylor hacked the U.S. capital markets and rerouted liquidity into #Bitcoin,' Ju posted on X, referring to MicroStrategy's operations as a perpetual-motion engine that uses volatility. It is receiving a lot of reactions on trading desks and in crypto circles as Bitcoin is emerging toward new all-time highs. Ki Young Ju is the CEO and co-founder of CryptoQuant, one of the top on-chain data analysis companies that provides real-time data and information on cryptocurrency markets. In 2020, MicroStrategy, managed by Saylor, began buying Bitcoin and currently holds approximately 4,020 BTC, making it the largest public company holder of the asset. Although Saylor is no longer CEO, he remains at the forefront of the company's Bitcoin strategy. MicroStrategy has raised this investment through several rounds of convertible debt financing and is treating Bitcoin purchases as a long-term investment within its treasury reserve. Ki Young Ju's remarks followed a recent shift in market sentiment, as institutional and sovereign parties were back focused on digital assets. Saylor's background was very much at the forefront in championing this shift in Bitcoin strategy, providing a template for other companies to adopt Bitcoin-backed investment treasury models. While supporters believe the plan is gutsy and innovative, some critics warn of the risks involved. "It works until the float of stock in the stock loan market dries up and CB desks cannot hedge their day1 delta position to lock in the profit," said Nathan Lee, who has been a Wall Street trader, noting concerns with potential liquidity and hedging issues. Michael Saylor 'hacked' US capital markets, claims top analyst first appeared on TheStreet on May 28, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
4 days ago
- Business
- Crypto Insight
MARA's Bitcoin mining revenue hits record $752M as BTC price soars
MARA Holdings, formerly Marathon Digital Holdings, reached a new all-time high in Bitcoin mining revenue, fueled by its recent surge to a record price. The company's annualized mining revenue exceeded $752 million on May 27, according to data from CryptoQuant, making it the most profitable day in the company's history. Marathon is currently the world's largest publicly traded Bitcoin mining firm by market capitalization. 'Quarterly reports are slow. Onchain shows revenue in real time,' CryptoQuant founder and CEO Ki Young Ju wrote in a May 27 X post, confirming the milestone. Marathon's record revenue surge occurred days after Bitcoin rose to a new all-time high of $112,000 on May 22, a development attributed by some analysts to Japanese bond market turbulence, which saw bond yields rise to new highs amid economic turmoil in the country. The revenue surge comes two weeks after MARA's earnings report for Q1, which missed Wall Street estimates by 0.35%. The company's Bitcoin production fell 19% year-over-year, primarily due to the April 2024 Bitcoin halving, which cut block rewards in half from 6.25 to 3.125 BTC. Marathon is the world's largest Bitcoin mining firm with a $5.18 billion market capitalization, according to Companiesmarketcap data. MARA's Bitcoin holdings surpass $5 billion Despite the reduction in production, Marathon has continued to expand its Bitcoin holdings. As of May 27, MARA's Bitcoin holdings were 48,237 BTC worth over $5.28 billion, making the Bitcoin mining company the world's second-largest corporate Bitcoin holder with over 0.23% of the total supply, Bitbo data showed. The top spot still belongs to Strategy (formerly MicroStrategy), which holds over $63 billion in Bitcoin. Despite the revenue surge, daily miner revenues averaged around $50 million, significantly below historic peaks of $80 million, signaling that there is still 'room to climb back to those previous highs,' noted macro researcher and CryptoQuant author Axel Adler, in a May 27 X post. Marathon adopted Bitcoin as a strategic treasury reserve asset in July 2024, when it added $124 million worth of BTC to its balance sheet. Source:
Business Mayor
6 days ago
- Business
- Business Mayor
Ethereum surges past $2,700, but THESE warning signs tell a different story
ETH's $2.7K breakout triggered a short squeeze, but rising exchange reserves signal weakening momentum Ethereum's decoupling from Bitcoin raises concerns about sustainability, with L2s and retail participation faltering Ethereum's [ETH] break above the $2,700 mark shocked the market, triggering over $50 million in short liquidations on Binance alone. But beneath the surface, there's something a bit more complex: rising Exchange Reserves and notable whale outflows suggest that the bullish momentum may be losing steam. At the same time, Ethereum's recent price decoupling from Bitcoin – once seen as a sign of growing strength – now raises fresh concerns about sustainability and direction for the broader Ethereum ecosystem. Short squeeze ignites as ETH breaks $2.7K Ethereum's surge past the $2,700 resistance level triggered a sharp liquidation event on Binance, wiping out over $50 million in short positions, according to CryptoQuant data. Source: CryptoQuant This zone, highlighted as a liquidity cluster on the Liquidation Delta chart, became a magnet for stop-loss orders as ETH pierced through. Source: CryptoQuant However, that squeeze was immediately followed by over 144,000 ETH flowing into Derivatives Exchange Reserves—a red flag. Such inflows typically precede renewed short positioning, not trend continuation. While the bulls briefly claimed victory, the rapid inflows and heatmap pressure suggest caution may be warranted amid the initial euphoria. Ethereum-Bitcoin correlation collapses For years, Ethereum and Bitcoin moved in near-lockstep, often sharing a correlation above 0.7. But that relationship has nearly evaporated. According to CryptoQuant, ETH's 1-year Correlation with BTC plunged to just 0.05 as of the 22nd of May – down from 0.63 at the start of the year. Source: Cryptoquant This sudden decoupling disrupts one of the crypto market's most consistent patterns, forcing a reassessment of traditional portfolio strategies. Read More DAI overtakes BUSD in stablecoin race, MakerDAO reaps benefits? More critically, it coincides with ETH's relative underperformance during Bitcoin's rally. Decoupling dampens momentum Ethereum's divergence from Bitcoin is eroding market confidence. Without the tailwind of synchronized BTC rallies, Ethereum's ecosystem is struggling to sustain growth. Retail participation appears to be thinning, and leading L2s like Optimism, Arbitrum, and Polygon have failed to gain traction in 2025. Forecasting models that once hinged on Bitcoin's directionality are losing predictive power. Ethereum may be evolving into a more autonomous asset driven by internal fundamentals, but that independence risks isolating it during bull cycles. For now, the decoupling seems to be more just wind than evolution.
Business Mayor
23-05-2025
- Business
- Business Mayor
Ethereum gets 4 mln new users, but why they may not stick around
Short-term ETH traders crossed 4 million, a threshold that has historically triggered strong rallies. ETH could reclaim $2.8K if demand holds, but poor retention and inflows raise downside risk to $2,448. After months of a strong downtrend, Ethereum [ETH] has entered a recovery phase. As such, the demand for the altcoin is on the rise again. In fact, Ethereum's number of short-term investors has surged over the past day to reach the critical threshold of 4 million. According to CryptoQuant's analyst Burak Kesmeci, this is one of the most significant aspects of the altcoin's potential bull run. The rise in short-term investors in Ethereum could boost risk appetite for altcoins, particularly Ether, which is the only altcoin with a spot ETF. Its performance significantly influences altcoin and market sentiments, making Ethereum a mini-index for the altcoin bull market. Source: X The rise of short-term investors acts as a market catalyst for Ethereum. Periods of significant price increases often align with the number of traders surpassing 4 million, indicating that short-term interest drives these rallies. High demand from new small traders boosts prices, while numbers below 4 million lead to difficulty in sustaining price uptrends and often result in declines. For example, in December 2024, when traders exceeded 4 million, ETH prices surged past $4,000, whereas in February 2025, the price fell as traders began to leave. This trend suggests that 4 million traders is a key threshold for short- to medium-term price movements. Having said that, the growing presence of speculative traders does raise one concern: Are they sticking around? Although Ethereum short-term investors are rising again, hitting 4 million, the altcoin's Ethereum's Monthly Cohort Retention Rate has steadily declined. A declining retention rate implies that fewer users are returning month over month after rejoining. This leads to lower user engagement. Therefore, this is the major problem that Ethereum has been facing. When these new investors enter the market, they exit the market. Source: Artemis At the same time, Exchange Netflow spiked to 88.2K—its highest in three weeks—signaling a surge in ETH deposits onto centralized platforms. This suggests that traders are aggressively exiting the market with more inflows than outflows. Source: CryptoQuant Can ETH reclaim $2.8K? For now, Ethereum trades just under $2,700. If short-term demand holds and net selling cools off, ETH could target $2.8K, followed by $3,000. However, if retention continues to drop and exchange inflows persist, ETH may lose momentum and slide back toward $2,448.
Business Mayor
23-05-2025
- Business
- Business Mayor
Ethereum climbs 65% – But is this rally more than just hype? Analyzing…
Ethereum's OI and whale inflows surged, signaling institutional conviction behind the recent rally. ETH liquidations and technicals point to a likely breakout above $2,714 as shorts get squeezed. Ethereum's [ETH] Futures market has shown remarkable strength over the past month. Open Interest (OI) on Binance jumped from $3.6B to $5.1B—up 41.6%—with the total ETH OI across all exchanges now near $17B. This uptick signals strong institutional and derivatives-driven conviction behind ETH's rally. Importantly, this move is not speculative; it aligns with an almost 65% price rise from $1,600 to $2,663.72. Therefore, Ethereum's recent surge appears more than a temporary spike—it reflects a structurally supported rally backed by robust participation in the derivatives market. Source: CryptoQuant Whale Inflows accelerate In just seven days, Ethereum's Large Holders Netflow rose 22.8%, extending a massive 30-day increase of 1057.08% and a 90-day jump of 392.80%. This surge suggests sustained accumulation from institutional entities and long-term holders. Moreover, the timing of these inflows corresponds with Ethereum's breakout above $2,600, confirming that deep-pocketed investors continue to bet on further upside. Source: IntoTheBlock While accumulation persists, ETH Exchange Reserves have increased by 3.93%, totaling $51.17B. Typically, rising reserves might indicate upcoming sell pressure as more ETH becomes available on exchanges. However, this rise could instead reflect rotational liquidity, where traders deposit ETH for derivatives exposure or to hedge positions. ETH faces major hurdle at $2,714 Ethereum was trading around $2,663, just shy of a strong resistance band between $2,714 and $2,741. The Stochastic RSI sat above 79, indicating overbought conditions, while Bollinger Bands signal reduced volatility. Read More DOT moves toward a bearish zone – Will it push forward? A decisive close above $2,741 would likely open the door to a breakout rally toward $3,000. However, failure to breach this zone could trigger a short-term retracement to $2,581. Therefore, ETH sits at a critical technical juncture that could dictate the near-term trajectory for both itself and the broader altcoin market. Source: TradingView Shorts get squeezed Derivatives data confirms increasing bear capitulation. On the 23rd of May, ETH liquidations showed short positions worth $17.88M being wiped out across exchanges. Binance and Bitfinex led the liquidations, while long positions only accounted for $12.56M. This continued squeeze has amplified ETH's rally, especially as Open Interest and Whale Netflows both support the move. Source: CoinGlass Can ETH break $2,714 and trigger the next altcoin wave? Ethereum appears well-positioned to break above the $2,714 resistance, backed by strong on-chain and derivatives metrics. The sharp rise in Whale Inflows, continued short liquidations, and a 41.6% surge in OI confirm solid bullish momentum. While reserves have risen slightly, this has not weakened the broader bullish setup.
