Tag: Analysis

Price analysis 11/25: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

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Bitcoin and most major altcoins are witnessing a relief rally but higher levels are likely to attract strong selling by the bears. FTX’s collapse dealt a major blow to the already fragile sentiment among cryptocurrency investors. Although a quick recovery is unlikely, Blockchain analysis firm Chainalysis said that the crypto universe could emerge stronger from this crisis. Chainalysis’ research lead Eric Jardine arrived at the conclusion after comparing FTX’s fall to that of Mt. Gox. Another calming statement came from Bloomberg Intelligence exchange-traded fund analyst James Seyffart, who said that…

Onchain Analysis Verifies the Number of BTC Held by Grayscale’s Bitcoin Trust – Bitcoin News

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After Grayscale Investments shared information concerning the company’s product holdings, people questioned why the firm wouldn’t share the public addresses associated with the crypto assets it holds. However, on Nov. 23, OXT researcher Ergo published a Twitter thread featuring onchain forensics that confirm Coinbase Custody holds a balance of 633K bitcoin that likely belongs to the Grayscale Bitcoin Trust (GBTC). OXT Researcher Verifies Grayscale’s Bitcoin Holdings Five days ago, Bitcoin.com News reported on Grayscale disclosing information tied to the safety and security of the company’s digital assets. Grayscale’s statements were…

Price analysis 11/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC

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Bitcoin and select altcoins are struggling to rise above their immediate resistance levels, indicating that bears remain in full control. The sentiment across the cryptocurrency ecosystem remains fragile as market participants assess the impact of the FTX crisis on various businesses within and outside of the crypto sector. Trading firm QCP Capital said in its latest circular on Telegram that crypto assets may continue their underperformance till the new year. QCP projects Bitcoin (BTC) to plunge to $12,000 and Ether (ETH) to $800. Looking at the brighter side, FTX could…

Analysis of FTX and Alameda Collapse Points to Terra LUNA Fallout Starting the Domino Effect – Bitcoin News

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An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company’s implosion. The study from Nansen further details that “FTX and Alameda have had close ties since the very beginning.” Report Shows Terra LUNA Collapse and Intermingled Relationships May Have Initiated FTX’s and Alameda’s Demise On Nov. 17, 2022, five researchers from the Nansen team published…

Bitcoin price may still drop 40% after FTX ‘Lehman moment’ — analysis

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Bitcoin (BTC) saw a fresh rejection at $17,000 on Nov. 18 as nervous markets weathered more FTX fallout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC gets $12,000 price target Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to flip $17,000 to support — a trend in place for almost a week. The pair, like major altcoins, remained firmly tied down by cold feet over the FTX debacle and its knock-on effects for various crypto businesses. For analysts, the outlook remained just as grim, with already dismal forecasts…

Price analysis 11/16: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, UNI, LTC

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The recovery in BTC and altcoins fizzled out fast, suggesting that investors continue to maintain a risk-off stance to all cryptocurrencies. The collapse of FTX cryptocurrency exchange has created a liquidity crisis in the crypto space, which could extend the crypto winter through the end of 2023, according to a research report by Coinbase. According to analysts, the FTX implosion could keep the institutional investors at bay because they are even more likely to tread cautiously for some time. The crisis has negatively impacted several crypto-focused companies who have assets stuck…

Elliptic Analysis Says $477 Million Stolen From FTX, ‘Accounts Drainer’ Becomes 35th Largest ETH Holder – Bitcoin News

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Three days ago, on Nov. 11, 2022, it was reported that FTX’s wallets saw unusual activities and FTX Telegram channel admins stressed that FTX was “hacked.” The same day, the new FTX CEO John Ray confirmed there were “unauthorized transactions.” A report by the blockchain intelligence firm Elliptic explains that out of “more than $663 million” worth of tokens moved, it is estimated that “$477 million is suspected to have been stolen.” Elliptic Says More Than $477 Million Siphoned from the FTX Exchange Wallet The blockchain analysis and intelligence company…

Bitcoin will shrug off FTX ‘black swan’ just like Mt. Gox — analysis

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Bitcoin (BTC) will recover from the FTX “black swan event” just like other setbacks, trading team Stockmoney Lizards believes. In a tweet on Nov. 12, the popular commentator argued that the week’s events were actually nothing new for Bitcoin. FTX “a real black swan event” Despite falling 25% in days, BTC/USD is not doomed as a result of the insolvencies impacting FTX, Alameda Research and possibly other major crypto companies. For Stockmoney Lizards, the unravelling, while sudden, is not hugely different to liquidity crises from earlier in Bitcoin’s history. “We…