Clicky

  • About
  • Coincu
  • Hot topics
  • Random
Wednesday, October 4, 2023
CoinCu News
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
No Result
View All Result
CoinCu News
No Result
View All Result
Home Analysis

Market Accumulates Bitcoin But Explosive Catalysts Are Missing

Annie by Annie
2 years ago
in Analysis
Reading Time: 4 mins read
388
91
SHARES
3k
VIEWS
Share on Twitter

Digital Asset Investment Products Saw First Inflows In Six Weeks

Top Crypto Set to Explode in the Next Bull Run

At press time, Bitcoin is still down almost 37% from its November peak and still lacks growth catalysts to propel the price to new all-time highs.

Market Accumulates Bitcoin But Explosive Catalysts Are Missing

BTC/USD 4 hour chart | Source: Trade View

The cryptocurrency market as a whole has had a rough time as demand for risky assets has waned amid escalating inflation, the increasingly dovish stance of the Federal Reserve and rising tensions among the world’s major powers.

The largest bitcoin wallet increases accumulation

However, there are signs that the market is in an accumulation phase. Institutional investors continue to buy bitcoin. This is confirmed by the recent transaction histories of the two largest BTC wallets.

1644921171 666 Market Accumulates Bitcoin But Explosive Catalysts Are Missing

Source: BitInfoCharts

Additionally, blockchain explorer Blockstream revealed that a giant Bitcoin whale moved 44,979 BTC worth $1.9 billion into two wallets of unknown origin.

One wallet raised 44,612 BTC worth $1.88 billion, instantly becoming the 14th largest Bitcoin address, according to BitInfoCharts. The second wallet, which has a long history of Bitcoin transactions, received the rest of the BTC.

Blockstream also shows that a $1.9 billion bitcoin transaction costs just 0.00008496 BTC ($3.56) in one transfer.

Before the transfer, the wallet in question was the 12th richest Bitcoin address.

Meanwhile, whale-watching bot Whale Alert reports that wealthy investors moved over $163 million in BTC over the past day.

  • 1,000 BTC worth $42.50 million touched from Bitfinex to Xapo
  • 843 BTC worth $35.91 million touched from Coinbase to unknown wallet
  • 986 BTC worth $42.25 million touched from unknown wallet to Coinbase
  • 1,000 BTC worth $42.68 million touched from unknown wallet to Crypto.com

Additionally, USDT activity value (generally considered a reliable measure of bitcoin price action) is signaling a bullish rally. Specifically, the number of daily active addresses on the Tether network has fallen to a 2-year low.

Bitcoin

Source: Messari.io

History shows that stablecoin transactions declined along with the Bitcoin price rally.

So don’t let the current sideways consolidation fool you into thinking this is a bear market. It looks like an uptrend is coming very close.

Bitcoin bull run about to restart?

What we need is a catalyst to kick start growth and there may be unexpected reports to trigger the rally.

The world’s largest asset manager, BlackRock, has $10 trillion in assets under management for institutional investors who have decided to enter the bitcoin and crypto markets.

BlackRock clients (including public pension, endowment and sovereign wealth funds) can trade cryptocurrencies through their investment management platform.

According to analysts at the Wells Fargo Investment Institute (WFII), cryptocurrencies follow the same adoption pattern as other new cutting-edge technologies like the internet. They believe that cryptocurrency is nearing a tipping point in adoption, much like the internet was in the mid-90s, and that’s why it’s a worthwhile investment.

Bitcoin

Source: WFII report “Understanding Cryptocurrency”.

“The chart shows the pathways for US households to adopt new technologies into their era. The ascending line shows an increasing percentage of US homes using these technologies. The reception usually starts slowly, reaches a turning point, and then accelerates sharply. For example, the Internet was invented in 1983, but by 1995 only 14% of Americans (and less than 1% of the world) were using it. Interestingly, this adoption rate is similar to what we are seeing with cryptocurrencies today.

According to a recent University of Chicago survey, 13% of Americans have bought or traded crypto in the last 12 months. And according to Crypto.com, about 3% of the world uses crypto.

Overall, the crypto market has entered recovery mode with Bitcoin breaking the $40,000 resistance level. However, the largest cryptocurrency continues to be influenced by events on Wall Street, so it is important to keep an eye on the stock market as markets are closely correlated.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

ONTO Wallet Reviews: Blockchain & Web3 At Your Fingertips?

Sender Wallet Review: Your Favorite Web3 Wallet?

Rabby Wallet Review: The Game-Changing Wallet?

Tags: #Bitcoinaccumulatescatalystsexplosivemarketmissing
Previous Post

Quick Overview: League of Ancients. The first 5v5 MOBA game on Binance Smart Chain.

Next Post

Verasity (VRA) Trading Tournament – Trade, Watch and Earn a Share of a 3 Million VRA Prize Pool!

Other Posts

Ether Futures ETFs Volume Kicks Off With Modest $2 Million
Analysis

Ether Futures ETFs Volume Kicks Off With Modest $2 Million

October 3, 2023
Friend.Tech Revenue Crosses 10,000 ETH Milestone
Analysis

Friend.Tech Revenue Crosses 10,000 ETH Milestone

October 2, 2023
Sui TVL Soars To $36.82M, Turbos Finance Leads Explosive Growth
Analysis

Sui TVL Soars To $36.82M, Turbos Finance Leads Explosive Growth

October 3, 2023
Floki Binance Deposit Of 15.8 Billion Tokens Sparks 5% Surge In Price
Analysis

Floki Binance Deposit Of 15.8 Billion Tokens Sparks 5% Surge In Price

October 2, 2023
OX Selling Pressure Alert: Whales Are Withdrawing Massive Tokens
Analysis

OX Selling Pressure Alert: Whales Are Withdrawing Massive Tokens

October 2, 2023
OX Price Crash By Over 50% After The Arrest Of Zhu Su
Analysis

OX Price Crash By Over 50% After The Arrest Of Zhu Su

October 2, 2023
Next Post
Verasity

Verasity (VRA) Trading Tournament - Trade, Watch and Earn a Share of a 3 Million VRA Prize Pool!

  • Robinhood Now Considers Delisting SOL, ADA, And MATIC After SEC Lawsuits: Report

    Robinhood Now Considers Delisting SOL, ADA, And MATIC After SEC Lawsuits: Report

    163 shares
    Share 65 Tweet 41
  • Top Layer 2 Crypto Projects In 2023

    93 shares
    Share 37 Tweet 23
  • Conflux and LayerZero Partnership for Transform Blockchain Communication via China Telecom

    92 shares
    Share 37 Tweet 23
  • DWF Invests In AirDAO Despite Being Listed On Binance’s Risk Watchlist

    92 shares
    Share 37 Tweet 23
  • Celsius Recovery Plan: Restarting As Bitcoin Miner With $450M Backing

    92 shares
    Share 37 Tweet 23
PERP Token Frenzy: 6.8 Million Snatched by Single Multisig Address

SEC Crypto Appeal Rejected: Judge’s Decision Stuns the Market

October 4, 2023
Celsius CEO Fraud Trial Will Be Scheduled For September, 2024

Celsius CEO Fraud Trial Will Be Scheduled For September, 2024

October 4, 2023
Celestia CIP Process: Fueling Progress Post-Mainnet Launch

Celestia CIP Process: Fueling Progress Post-Mainnet Launch

October 4, 2023
StarkNet Token Unlocks Delayed Until April 15 Next Year

StarkNet Token Unlocks Delayed Until April 15 Next Year

October 4, 2023
OP Goerli Testnet Adds Fault-proof System To Enhance Safety

OP Goerli Testnet Adds Fault-proof System To Enhance Safety

October 4, 2023
DWF Invests In AirDAO Despite Being Listed On Binance's Risk Watchlist

DWF Invests In AirDAO Despite Being Listed On Binance’s Risk Watchlist

October 4, 2023
Bitcoin Bridge Nomic Now Expands To Cosmos For BTC Enthusiasts

Bitcoin Bridge Nomic Now Expands To Cosmos For BTC Enthusiasts

October 4, 2023
Conflux and LayerZero Partnership for Transform Blockchain Communication via China Telecom

Conflux and LayerZero Partnership for Transform Blockchain Communication via China Telecom

October 3, 2023
Binance and Thai Authorities Smash $277 Million Scam, Deliver Justice to 3,200

Binance and Thai Authorities Smash $277 Million Scam, Deliver Justice to 3,200

October 3, 2023
Top Layer 2 Crypto Projects In 2023

Top Layer 2 Crypto Projects In 2023

October 3, 2023
  • Live Prices
  • Binance
  • NFT
  • Solana
  • Metaverse
  • Polygon
  • Coinbase
  • Trending

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

No Result
View All Result
  • Coincu
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Metaverse News
    • NFTs News
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Video

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In