Tag: Data

Wealthy Coinbase clients are still ‘hodling’ Bitcoin since December 2020, data suggests

Bitcoin’s (BTC) price dropped by more than 50% after peaking out at $69,000 six months ago but the plunge did little in forcing some of its wealthiest investors into selling. Notably, the number of Bitcoin under Coinbase Custody for institutional clients rose by 296% since Q4 2020, showcasing the most investors decided to “hodl” onto their investments despite BTC price down well over 50% from its all-time highs. JUST-IN: #Bitcoin under @Coinbase Custody for institutional clients increased by 296% since Q4’20. pic.twitter.com/iILge2Cane — CryptoQuant.com (@cryptoquant_com) May 30, 2022 For instance,…

The Fed’s Christopher Waller Wants 50 bps Rate Hikes Until Inflation Subsides, US Savings Data Plummets – Economics Bitcoin News

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Federal Reserve governor Christopher Waller has detailed he is ready to get behind 50 bps rate hikes until the extreme inflationary pressures plaguing the U.S. economy subsides. Waller stressed that until inflation is reduced he doesn’t “see the point of stopping” 50 bps rate hikes. Furthermore, statistics from the U.S. Bureau of Economic Analysis show that American savings have plummeted to levels not seen since the ‘Great Recession’ in 2008. Christopher Waller Advocates for 50 Bps Rate Hikes at Every Fed Meeting Until Inflation Is Under Control Inflation is wreaking…

On-chain data shows Bitcoin long-term holders continuing to ‘soak up supply’ around $30K

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Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins.  According to a recent report from Glassnode, Bitcoin hodlers are now “the only ones left” and they appear to be “doubling down as prices correct below $30K.” Evidence of the lack of new buyers can be found looking at the number of wallets with non-zero balances, which has plateaued over the past month, a process that was…

Bitcoin On-Chain Data Signals A Long Squeeze Brewing In Futures Market

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On-chain data shows the Bitcoin open interest is sharply rising, a sign that a long squeeze may be brewing in the crypto futures market. Bitcoin Open Interest Has Observed Rise Recently, While Funding Rates Remain Positive As pointed out by an analyst in a CryptoQuant post, the futures market may be heading towards a long squeeze in the near future. The “open interest” is an indicator that measures the total amount of Bitcoin futures positions currently open on derivatives exchanges. It includes both long and short positions. An increasing value…

On-chain data flashes Bitcoin buy signals, but the bottom could be under $20K

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Every Bitcoin investor is searching for signals that the market is approaching a bottom, but the price action of this week suggests that we’re just not there yet.  Evidence of this can be found by looking at the monthly return for Bitcoin (BTC), which was hit with a rapid decline that “translated to one of the biggest drawdowns in monthly returns for the asset class in its history,” according to the most recent Blockware Solutions Market Intelligence Newsletter. Bitcoin monthly returns. Source: Blockware Solutions Bitcoin continues to trade within an…

Ether Accounts for About Half of $520M Liquidations Amid Weak On-Chain Data

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In the past 24 hours, Bitcoin (BTC) and Ethereum (ETH) have lost key levels of support due to weakening sentiment for the crypto market at large. As of such, over $520 million of cryptocurrency has been liquidated. This comes in tandem with a massive bearish run that saw traders of ETH futures experience liquidations nearly double those of BTC, in an unusual market trend. This data was shown in a recent liquidation data from Coinglass. ETH-tracked futures lost more than $236 million, nearly twice the $125 million lost on bitcoin futures.…

BSV president urges Meta to store data for its metaverse on a public blockchain

While Meta has not yet launched its metaverse project, Bitcoin SV (BSV) Association President Jimmy Nguyen thinks that it would be better for the firm to store user data on a public blockchain.  In a Cointelegraph interview, Nguyen shared that a global and interoperable metaverse ecosystem would mean that individual data will be stored within a public blockchain. If Meta takes this method, Nguyen noted that Meta could become an interface that connects a blockchain to companies’ metaverse apps. This will allow other metaverses to access user data once users…

Bitcoin creeps toward $30K, but data shows bears in favor for Friday’s $1.8B BTC options expiry

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Bitcoin (BTC) price has been unable to close above $32,000 for the past fifteen days and is currently down 37% year-to-date. Although that might seem excessive, it does not stand out among some of the largest U.S.-listed tech companies that have also sustained notable losses recently.  In this same 15-day period, Shopify Inc. (SHOP) stock dropped 76%, Snap Inc. (SNAP) crashed 73%, Netflix (NFLX) is down 70% and Cloudflare (NET) presented a negative 62% performance. Cryptocurrency investors should be less concerned about the current “bear market” considering Bitcoin’s 79% annualized…

ICO fines facial recognition database company Clearview AI Inc more than £7.5m and orders UK data to be deleted

The Information Commissioner’s Office (ICO) has fined Clearview AI Inc £7,552,800 for using images of people in the UK, and elsewhere, that were collected from the web and social media to create a global online database that could be used for facial recognition. The ICO has also issued an enforcement notice, ordering the company to stop obtaining and using the personal data of UK residents that is publicly available on the internet, and to delete the data of UK residents from its systems. The ICO enforcement action comes after a…