Bitcoin retreats from record high amid analyst warnings of 20% market correction

IntoTheBlock’s head of research cautions that the market is showing signs of ‘being overheated,’ citing escalating leverage in both centralized and decentralized finance sectors. With Bitcoin’s (BTC) price retracing from its peak and dipping below $69,000, analysts at IntoTheBlock warn of the market showing signs of “being overheated,” sparking worries of a potential correction. The crypto market is showing signs of being overheated. An increasing amount of leverage in DeFi and CeFi markets suggests we may soon experience a correction. Let’s dive in – based on @intotheblock‘s weekly newsletter 👇🚨…

Why aren’t large Bitcoin holders selling despite high prices? Insights and analysis

As Bitcoin prices soar, the wealthiest investors are holding onto their assets. What’s driving this choice, and how does it affect the market? In recent years, the number of large Bitcoin (BTC) holders, called “whales”, has increased significantly. Data from Glassnode reveals a striking uptrend in the number of Bitcoin addresses holding over $100,000, escalating from less than 140,000 in July 2020 to nearly 680,000 by Mar. 12. Bitcoin addresses with a balance of more than $100,000 | Source: Glassnode Similarly, addresses possessing more than $1 million in Bitcoin surged from…

Bitcoin mining difficulty reaches new all-time high

On March 14, the difficulty of Bitcoin mining reached a new historical maximum of 83.99 T. BTC.com says the rate has increased by 5.79% since the last change date. The first cryptocurrency’s current mining hashrate has also reached its maximum, meaning that more participants have joined mining activity. Currently, the figure is 616.74 EH/s. Source: BTC.com The next recount will take place on March 27. The forecast is an increase of 0.07%, according to BTC.com. On March 1, the difficulty of Bitcoin (BTC) mining decreased by 2.9%. The complexity of…

Solana Smashes Major Resistance Levels, New All-Time High Imminent?

With previous price achievements, Solana (SOL) has become one of the biggest cryptocurrencies in the market, garnering the attention of investors and traders as its price continues to rise, hitting a new yearly high of $172. Solana (SOL) Breaks Through All Critical Levels Solana has effectively reached a new 25-month high, reflecting a strong positive interest from crypto investors within the sector. Due to this, several market experts are predicting that the crypto asset reaching a new all-time high is on the horizon. Crypto Jelle, a cryptocurrency trader and analyst…

Bitcoin Whales Are Cashing Out Amid Push To New All-Time High

As the Bitcoin price continues on an upward trajectory that has sent it toward new all-time highs, breaking above $73,000 this week. With this increase, the vast majority of BTC holders are currently seeing a profit, and large whales are taking advantage of this to cash out some profit. Large Bitcoin Whales Sell-Off Coins Crypto analyst Ali Martinez took to X (formerly Twitter) to share a chart that showed that large Bitcoin whales were selling off some of their coins. These large whales are those that hold at least 1,000…

INJ hits new all-time high as whale activity doubles

Injective (INJ) has recorded impressive gains since December 2023 and recently touched a new all-time high (ATH). INJ is up by 15% in the past 24 hours and is trading at $48.8 at the time of writing. The asset reached a new ATH of $52.65 at 01:00 UTC on March 13 with a total market cap of $4.92 billion.  INJ price, RSI, exchange outflow and whale activity – March 13 | Source: Santiment Notably, it’s the second time in the past two weeks that INJ hit record highs as the…

Bitcoin’s all-time high leads to record $600m liquidity depth

The depth of the Bitcoin market reached a record $600 million, coinciding with Bitcoin’s recent all-time high. Experts added that this situation indicates traders are taking profits as the historical maximum is renewed. On March 4, open interest in Bitcoin (BTC) perpetual contracts jumped nearly $2 billion to a multi-year high of $15 billion before falling $1.4 billion the next day. Experts concluded that the preservation of financing rates near the peaks indicates the stability of demand for the asset. However, on-chain analysis showed a relatively slow increase in new…