Latest news with #CryptoQuant
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2 days ago
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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
Yahoo
4 days ago
- Business
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BNB Climbs Then Retraces Amid $500M Treasury Push
BNB hovered near $780 after a sharp rally earlier in the day gave way to selling pressure. The cryptocurrency advanced roughly 1.3% over the past 24-hour period, with a small pullback over the last few hours. The token is now hovering around $776. Earlier in the session, a surge in trading volume pushed BNB to a local high of $778, testing resistance levels that haven't been breached in recent weeks. The move was short-lived. A rapid sell-off followed, pulling the price lower and trimming gains made during the advance, according to CoinDesk Research's technical analysis model. The move comes amid a wave of corporate adoption that recently saw CEA Industries close a $500 million private placement to further its BNB treasury strategy. The broader context remains volatile. Investors are navigating an environment shaped by shifting trade policy and geopolitical risk, with the impact of Trump's reciprocal tariffs expected to come in force during the third quarter of the year. Within that backdrop, BNB's relatively stable performance stands out as a signal of ongoing demand, even if short-term volatility remains. CryptoQuant data shows that within the exchange token sector, BNB is a standout performance, being down 8.7% from its all-time high, compared to 35% to 60% for most other tokens. Technical Analysis Overview The most aggressive price movement came during a midday rally that sent the token as high as $774.94. Volume surged above 60,000 tokens during that move, a signal that larger participants may have been driving the action. That rally ran into resistance just below $780, where sellers stepped in and halted the advance. Price action at that level has historically triggered reversals, and this session was no exception. A pullback followed, with the price eventually sliding. While the drop erased a portion of the day's gains, BNB found consistent support near that level. The repeated defense of the $765–766 zone suggests buyers are accumulating at that range. Institutional interest often shows up in this kind of layered support, where price holds despite increased volume and selling pressure. The total trading range for the session spanned $16.83, or about 2.18%. Though not extreme, this volatility highlights how quickly sentiment can flip. 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
Yahoo
02-08-2025
- Business
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Decade-Old Bitcoin Wallet Emptied, Millions in BTC Moved Amid Market Correction
A Bitcoin (CRYPTO: BTC) wallet that has been inactive for over a decade was emptied on Friday, marking a significant movement in the cryptocurrency market. What Happened: The Bitcoin wallet, known by the initial '1c5Cb,' was first funded back in 2013 through a CoinJoin address, reveals the blockchain data. Back then, Bitcoin was primarily used for transactions on the darknet market Silk Road and was valued at around $75. Since its initial funding, the value of Bitcoin has skyrocketed by 152,300%, bringing the total value of the wallet to a staggering $34.8 million. The recent price of Bitcoin has been fluctuating below $114,000. Just two weeks ago, another dormant address moved a whopping $4.7 billion to crypto exchange Galaxy Digital. The firm later announced it had sold 80,000 Bitcoin worth $9 billion on behalf of a client. A similar transaction involving 50 Bitcoin worth $5 million was activated in April. Also Read: $1 Billion Bitcoin Transfer Triggers Massive Liquidations — This Is Where It Was Offloaded According to on-chain data firm CryptoQuant, Bitcoin may be in a months-long correction phase as long-term holders cash in. The firm noted that the market is experiencing significant selling from large holders, known as 'whales,' for the third time since 2024. The Bitcoin moved on Friday was split between two wallets, holding 106 and 200 Bitcoin respectively. The transaction did not appear to be heading to an exchange. CoinJoin addresses are used to enhance the privacy of Bitcoin transactions by combining multiple users' Bitcoin into a single transaction. This makes it more difficult to track the flow of transactions. Experts have identified early Bitcoin miners as potential targets for quantum computers, capable of cracking Bitcoin's encryption for early wallet-address types. This includes coins belonging to Bitcoin's pseudonymous creator, Satoshi Nakamoto, who is believed to own 1.1 million Bitcoin, worth $125 billion at current prices. Read Next Dormant Bitcoin Whale Awakens After 14 Years, Moves $469.8 Million Worth of BTC Image: Shutterstock/Paopano UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Decade-Old Bitcoin Wallet Emptied, Millions in BTC Moved Amid Market Correction originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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
Yahoo
02-08-2025
- Business
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Asia Morning Briefing: Bitcoin Drops to $115K as Third Major Profit-Taking, New Tariff Tensions Add Pressure
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook (BTC) is set to end the trading week in Asia down 2.3% on the day, changing hands above $115,300. A new round of global tariffs from the White House is dragging down markets in Asia, with the Nikkei 225 opening in the red along with Seoul's KOPSI. Bitcoin is also not immune to this, as historically digital assets also follow equity markets when the White House announces tariffs – though that has also begun to weaken. CoinGlass data shows around $260 million in long positions have been liquidated over the last 4 hours. BTC is struggling with tariff pressure and continued profit taking after a historic run past all-time highs. According to a new report by CryptoQuant, bitcoin just experienced its third major profit-taking wave of the 2023–2025 bull cycle, with $6–8 billion in realized gains recorded in late July. Like the previous phases, this wave was defined by large spikes in the Spent Output Profit Ratio (SOPR), particularly among short-term holders, and a significant 80,000 BTC sell-off by an OG whale on July 25. New whale cohorts, those who accumulated BTC within the last 155 days, were the dominant sellers, according to the data provider. Exchange inflows surged to 70,000 BTC in a single day after the OG whale sold off, a level that typically signals a strong intent to exit positions at peak prices. The selling wasn't limited to BTC: Ethereum-based whales holding WBTC, USDT, and USDC also realized up to $40 million in daily profits, further supporting the narrative of broad-based capital rotation. Historically, these profit-taking events have been followed by a two- to four-month period of consolidation before the next leg higher, CryptoQuant wrote. That pattern may be playing out again, with U.S. investor appetite waning. The Coinbase premium, an indicator that tracks price differences between Coinbase and other global exchanges, recently flipped negative, suggesting that American buyers are no longer paying a premium. Adding to the cautious tone is the return of macro risk. Trump's tariff escalation, including new measures that specifically target Canada, has rattled broader risk assets. Equities, bonds, and crypto alike saw declines amid fears of inflation and supply chain disruption. Without a clear macro catalyst or structural inflows, risk-taking remains selective and conviction light, added market maker Enflux in a note to CoinDesk. "Until BTC or ETH can post a clean reclaim of recent local highs, price action may stay choppy and rotation thematic rather than trend-driven," the market maker said. Market Movements: BTC: Bitcoin (BTC) is trading at $115,500, down 2.3% on the day, as renewed White House tariffs weigh on Asian markets; despite the drop, BTC remains range-bound. ETH: Ether (ETH) hovered near $3,800 on Thursday after surging over 50% in July—its best month since 2022—as bullish price targets circulated on social media, including a popular analyst projecting a breakout to $15K–$16K this cycle, backed by $5.3 billion in U.S. spot ETF inflows and strong institutional demand. Gold: Gold rose to $3,296 earlier Thursday before slipping to $3,287.39, down 0.38%, as dip-buying offset a firm U.S. dollar after the Fed held rates steady and Powell pushed back on a September cut amid strong jobs data and rising core PCE inflation. Nikkei 225: Asia-Pacific markets opened lower Friday, with Japan's Nikkei 225 down 0.65% and the broader Topix index trading flat S&P 500: S&P 500 futures slipped Thursday night as traders weighed Big Tech earnings and looked ahead to July's jobs report. Elsewhere in Crypto: Tyler Winklevoss has 'serious concerns' over Trump's pick to lead the CFTC, Brian Quintenz (The Block) Tether-Focused Blockchain Stable Raises $28M to Power Stablecoin Payments (CoinDesk) HKMA's strict stablecoin regime to shape Hong Kong's crypto future (SCMP) 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
02-08-2025
- Business
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Bitcoin Correction Could Linger for Months: CryptoQuant
Bitcoin is caught in a tug-of-war between profit-taking whales and long-term holders, a standoff that one on-chain report says could shape the market for months. After hitting a record high of $123,300 on July 14, the crypto market has drifted lower, awaiting a fresh catalyst. On-chain data firm CryptoQuant said the pullback marks the third major wave of whale profit-taking since mid-2024, in a report on Thursday. The observation is supported by Sean Dawson, head of research at on-chain options platform Derive, who told Decrypt that the profit-taking came from both "old and new whales.' In crypto markets, 'whales' are large holders whose trades can move the price of an asset. Still, selling pressure wasn't limited to whales, Dawson added. Miners also sold approximately 15,000 BTC immediately after the new all-time high was reached. Bitcoin Rangebound as Market Ignores Good News in 'Textbook Late Cycle Behavior' "The size and scale of these trades suggest these are probably institutions content with their returns and seek to de-risk after forecasting a rough Q3 ahead.' This 'cooling phase' is a key characteristic of a mature bull market, and it aligns with Bitcoin's historical performance, which shows that the third quarter typically produces minimal median returns. The market appears to be preparing for this, according to Dawson, who notes that options traders are 'gearing up for a rough two months' by buying $80,000, $95,000, and $100,000 put options for August and September. Bitcoin Price Awaits Fed Clarity Following Constructive US-China Trade Talks These traders 'are expecting a price reversal of somewhere between 10-30% over the next month,' Dawson said. Charles Edwards, founder of Capriole Fund, pushed back against short-term bearish sentiment on Thursday, calling Bitcoin 'undervalued' based on his Energy Value model. The model, which ties Bitcoin's intrinsic value to the energy used by its mining network, suggests the asset is trading well below its fundamental worth. CryptoQuant expects 'renewed accumulation and a subsequent breakout to a new all-time high,' a view supported by historical trends showing Bitcoin's fourth quarter typically delivers the strongest gains, with a median return of 52%.
