Latest news with #JulioMoreno
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin Slip Triggers $300 Million in Liquidations—What's Next?
Bitcoin has lost 2.6% in the past day, after a rally to new all-time highs last week on the expectations of a U.S. federal interest rate cut. At the time of writing, Bitcoin is changing hands at $115,192 after having jumped as high as $122,882 only days ago. Analysts said derivatives data shows a wave of profit-taking driving the top crypto's weekend decline. More than $300 million worth of positions were liquidated due to the minor dip in Bitcoin's price, according to CoinGlass. An uptick in put-buying activity noted over the last two weeks and near-zero median return for Bitcoin in August in the past 12 years highlight the top crypto's descent. 'Traders are taking a cautious approach,' CryptoQuant's head of research, Julio Moreno, told Decrypt last week. Derivatives data shows the top crypto's roughly 3% drop from a weekend high of $118,575 was not a sign of new bearish sentiment, but rather a result of traders closing out profitable positions. The combination of a $350 million decline in open interest and a downtick in volume delta points directly to profit-taking. Uncertainty around the ongoing Russia-Ukraine conflict and the lack of a clear agreement in the recent peace summit are among the key reasons for Bitcoin's recent drop, Sean Dawson, head of research at on-chain options platform Derive, told Decrypt. What's Next? Dawson expects a 'slow down' in inflow for the top two cryptocurrencies after the recent drop. But explained that Fed Chairman Jerome Powell's speech on Friday is 'critical in determining how the bull market progress for the next three months.' The appointment of President Trump's nominee, Stephen Miran, to the Federal Reserve's governing board to fill a temporary vacancy after Adriana Kugler's departure has become a focal point for analysts. "In light of the recent board changes, J.P. Morgan Global Research now looks for the next Fed rate cut to occur in September," the firm stated in its August 15 report. Bitcoin Jumps to New All-Time High Price as Ethereum Nears Record This outlook is now in line with the broader market's tempered expectations, with CME's FedWatch tool showing an 83.4% probability of a 25 basis-point rate cut in September. A rate cut makes holding cash less attractive, prompting investors to seek higher returns in riskier assets like stocks and cryptocurrencies. This increased demand for risk assets pushes their prices up. Corroborating this bullish outlook is the spot bid and ask delta at 10% depth, which shows a bid-skewed orderbook, hinting that investors are buying the dips. Last time this metric flashed a dip-buying activity on August 2, Bitcoin surged nearly 12% in the next 11 days and hit a record high of $124,545. Cardano Hits 5-Month High As Bitcoin, Ethereum Hover Near Record Price Due to the combination of supportive macro signals and renewed investor appetite, the overall market outlook remains bullish. Powell's stance on interest rates, coupled with the Russia-Ukraine peace deal, could restart the bull run. If Powell stands firm on keeping interest rates higher for longer, it could, however, trigger another selling spree, which could lead to a massive liquidation event.
Yahoo
09-08-2025
- Business
- Yahoo
XRP Whale Flows Point to Potential Correction: CryptoQuant
XRP's price could face short-term pressure as the asset's largest holders move funds to exchanges at an increased rate, according to CryptoQuant Head of Research Julio Moreno. 'Sudden and increasing whale flows into exchanges may indicate an inflection for prices as large holders may start selling on exchange,' he told Decrypt. On Thursday, the 30-day moving average for XRP inflows to exchanges from whales increased to 260 million from 141 million at the beginning of July, according to CryptoQuant data. The trend was first flagged by The Enigma Trader, a pseudonymous analyst. Activity among whales can play a significant role in shaping market sentiment, and in July, XRP's price dropped after exchange inflows from whales spiked, Moreno added. XRP recently rose 9.7% on Thursday to $3.29, according to crypto data provider CoinGecko. Last month, the asset's price jumped to $3.65, a new all-time high that was seven years in the making. That same day, on July 18, XRP whales moved 660 million tokens to exchanges. The token's price fell to $3 in the following week. Although heightened inflows to exchanges from large XRP holders can be bearish, the trend works in both directions, with recent examples, Moreno said. An increase in XRP's price last year following the reelection of U.S. President Donald Trump also coincided with lower exchange reserves, particularly on the crypto exchange Upbit, one of the largest exchanges for XRP, he explained. Bitcoin Whale Moves $349 Million in BTC After 10-Year Slumber Before XRP's price set a new all-time high last month, Ripple co-founder Chris Larsen moved 50 million XRP, which mostly went to exchanges. The pseudonymous blockchain sleuth ZachXBT estimated that $140 million worth of Larson's XRP made it to exchanges. The latest crypto rally has awakened whales for other digital assets, including Bitcoin. Last month, the institutional crypto firm Galaxy Digital said that it had executed an $9 billion Bitcoin sale on behalf of a single, Satoshi-era investor. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Forbes
20-05-2025
- Business
- Forbes
Bitcoin Trades Near Multimonth High As Growing Demand Fuels Gains
Bitcoin prices reached a nearly four-month high this weekend and then managed to retain most of those gains today as the digital currency benefited from strong tailwinds in the form of growing demand and improving sentiment. The world's most prominent digital currency surpassed $107,000 last night, according to Coinbase data from TradingView. At this point, it was trading at its most since reaching an all-time high on roughly January 20, additional Coinbase figures from TradingView reveal. Since rising above $107,000 this weekend, the cryptocurrency has retreated somewhat, but it was still trading north of $106,200 at the time of this writing. When asked what caused these latest gains, several analysts pointed to evidence of the growing interest of investors. Julio Moreno, head of research for CryptoQuant, spoke to this, stating via Telegram that 'It seems the demand for Bitcoin remains strong.' 'In the futures market traders are opening long positions, which imply higher demand for Bitcoin. This is evident in the open interest of Bitcoin increasing as prices gained,' he emphasized, pointing to the chart contained below: Bitcoin open interest CryptoQuant 'On the spot market, Bitcoin demand in the US is still growing, evident in the positive Coinbase Bitcoin price premium,' Moreno added. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, also weighed in on what drove bitcoin's recent upward price movement, stating that 'risk assets are seeing renewed buying interest. Spot BTC ETF flows have stayed strong, and there's been a noticeable uptick in institutional engagement,' he stated, emphasizing that these factors are all signs of increasing demand. Brett Sifling, wealth manager for Gerber Kawasaki Wealth & Investment Management, provided his input, emphasizing that the mindset of investors has been changing as of late, causing them to become more interested in so-called risk assets. 'It seems that investor sentiment has changed quite rapidly since the recent sharp correction that we experienced due to the volatility from tariffs and U.S. politics,' he stated via email. 'We believe that Bitcoin has rallied on the back of renewed optimism for risk-on assets, which can be confirmed with the stock market turning green on the year," said Sifling. He elaborated on some positive developments that might be making market participants feel more optimistic. 'I believe Bitcoin investors are excited about the prospect of new regulation being set in the United States, with a catalyst this week as lawmakers discuss the GENIUS act. While this would create a regulatory framework for stablecoins, it's a step in the right direction of Trump's promises to make the U.S. a leader in the crypto world." 'It was also nice to see Coinbase added to the S&P 500 last week, even if it was on the heels of a massive data breach that is affecting their customers,' he added.
Forbes
08-05-2025
- Business
- Forbes
Bitcoin Rallies Past $100,000 After Highly Bullish Sentiment Reading
Bitcoin prices reached over $104,000 today. (Photo illustration) Bitcoin prices rose sharply today, climbing above the crucial $100,000 level and reaching their highest since January after CryptoQuant's Bitcoin: Bull Score Index showed a bullish reading of 80. Since the aforementioned index attained this figure not only today, but also on May 1, 2, 3, and 7, it has repeatedly tied for its loftiest value since January 30, additional CryptoQuant data reveals. This coincided with the digital currency rising from roughly $95,000 on May 1 to more than $104,000 today, according to Coinbase figures from TradingView. Julio Moreno, head of research for CryptoQuant, shed some light on what this reading means, specifying via Telegram chat that 'The index measures demand, valuation and liquidity conditions for Bitcoin. As long as the index is at 60 or above it signals bullish sentiment and supports higher prices.' He noted that the Bitcoin: Bull Score Index sank to as little as 10 in early April, which means that the measure increased 700% in roughly the space of a month. Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, also weighed in how the mindset of investors has strengthened lately. 'There's little doubt that sentiment around bitcoin has improved markedly in recent weeks. CryptoQuant's Bull Score Index hitting 80 — the highest since January — reinforces what we're seeing on-chain and across trading desks: renewed conviction.' Bitcoin prices rallied today after President Donald Trump announced that he and U.K. Prime Minister Keir Starmer had managed to work out a trade deal that both heads of state described as advantageous for their countries. 'The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol, and virtually all of the products produced by our great farmers," said Trump, according to a White House statement. 'This is going to boost trade between and across our countries. It's going to not only protect jobs, but create jobs, opening market access,' Starmer added. The U.S. will continue to impose a 10% baseline tariff, the statement revealed, but the nation has agreed to change up its treatment of automobiles imported from the U.K. 'Under the deal, the first 100,000 vehicles imported into the U.S. by UK car manufacturers each year are subject to the reciprocal rate of 10% and any additional vehicles each year are subject to 25% rates,' the announcement specified. While announcing this deal, Trump expressed optimism that the 145% tariff that the U.S. has imposed on Chinese imports would soon come down, according to Reuters. Several analysts cited these development as contributing to bitcoin's latest price gains, but emphasized that other causes helped drive the digital currency higher. When asked what fueled bitcoin's latest gains, Tim Enneking, managing partner of Psalion, stated via email that 'I think the proximate cause was clearly the US-UK announcement of a trade agreement this morning – which was teased beginning yesterday (many details of which, however, remain to be finalized).' 'However, that was far from the entire reason and really wouldn't be sufficient to explain the rather large BTC (and ETH) move of the past couple of days,' he added. 'Mid-level talks between the US and China, which were announced yesterday, kicked things off. But, perhaps more important than either, BTC has been like an ever-tighter coiling spring since it bounced off of $74.5k in early April,' said Enneking, focusing on the strong, upward trend the digital asset has been experiencing lately. DiPasquale also claimed that myriad developments placed upward pressure on bitcoin prices, indicating via email that 'Bitcoin's surge above $100,000 appears to be driven by a convergence of macro tailwinds and narrative momentum.' 'The announcement of a new U.S.-U.K. trade deal under Trump likely contributed to broader optimism in risk assets, reinforcing the idea that a more favorable geopolitical and regulatory environment could benefit digital assets. However, bitcoin's move is also powered by deeper structural factors — from ongoing institutional accumulation to the scarcity effect post-halving,' he stated. Enneking spoke to the optimism of major players, emphasizing that they never lost confidence that bitcoin would recover after falling below $75,000 last month. 'Whales never lost the faith that BTC was going up from there to set a new ATH and not down as they steadily accumulated,' he stated. 'That institutional confidence has now been justified, triggered and supported by today's tradfi macro events,' Enneking added.
