Tag: interpretation

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Profit-Taking Hits BlackRock’s Bitcoin ETF While BTC Recovers

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The post Profit-Taking Hits BlackRock’s Bitcocom. Bitcoin For most of 2024, BlackRock’s IBIT has acted like a black hole inside the Bitcoin ETF universe money went in and rarely came back out. Key Takeaways: IBIT outflows show institutions taking profit during the rebound. Money is rotating between Bitcoin ETFs, not exiting the asset class. Sustained IBIT redemptions during a BTC rise could hint at distribution. That dynamic is now showing cracks. While Bitcoin has bounced sharply off last week’s lows, the largest issuer in the category is no longer the one capturing the recovery. Market data shows that some of the biggest allocators used the recent price rebound not to increase exposure but to lighten their positions. IBIT posted one of its largest single-day redemptions of the quarter on November 24 and only partially made up for it the following session. The two-day ledger still finished negative by more than $66 million. A recovery without renewed accumulation In previous rallies toward the $90,000 region, IBIT was almost automatically the recipient of fresh institutional capital. This time, the pullback has been met with rebalancing instead of reinforcement. The message from those flows is less about fear and more about discipline. Large investors appear willing to defend performance gains rather than chase upside. Nothing about that behavior means institutions are abandoning Bitcoin. Other issuers have benefited from the rotation. Fidelity’s FBTC once a distant runner-up recorded nearly $171 million in inflows during the same window that IBIT was shrinking. ARK’s ARKB and Bitwise’s BITB, meanwhile, sat on the opposite side of that equation with withdrawals. What the shift could mean for the wider market ETF analysts have long used BlackRock’s ledger as a proxy for risk appetite because IBIT is the first stop for allocators with conviction. When that fund is no longer the automatic.

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XRP Price Spikes Over 10% With Traders Rushing Back Into the Rally

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XRP price started a steady increase above $2. 20. The price is now consolidating gains and might aim for another increase if it stays above the $2. 180 level. XRP price started a fresh increase above the $2. 120 zone. The price is now trading above $2. 20 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2. 00 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it clears $2. 280. XRP Price Gains Momentum XRP price started a decent upward move above $2. 020 and $2. 050, beating Bitcoin and Ethereum. The price gained pace for a clear move above the $2. 120 resistance. Besides, there was a break above a key bearish trend line with resistance at $2. 00 on the hourly chart of the XRP/USD pair. The pair even surpassed the $2. 20 barrier. A high was formed at $2. 286 and the price started a consolidation phase above the 23. 6% Fib retracement level of the upward move from the $1. 817 swing low to the $2. 286 high. The price is now trading above $2. 20 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2. 280 level. The first major resistance is near the $2. 320 level, above which the price could rise and test $2. 350. A clear move above the $2. 350 resistance might send the price toward the $2. 4620 resistance. Any more gains might send the price toward the $2. 50 resistance. The next major hurdle for the bulls might be near $2. 550. Another Decline? If XRP fails to clear the $2. 280 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2. 180 level. The next major support is near the $2. 080 level. If there is a downside break and a close below the $2. 080 level, the price might continue to decline toward $2. 050 and the 50% Fib retracement level of the upward move from the $1. 817 swing low to the $2. 286 high. The next major support sits near the $2. 020 zone, below which the price could continue lower toward $1. 9250. Technical Indicators Hourly MACD The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now above the 50 level. Major Support Levels $2. 180 and $2. 080. Major Resistance Levels $2. 280 and $2. 320.

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Michael Saylor Responds to Cathie Wood on Bitcoin and Stablecoins

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TLDR: Saylor says Bitcoin and stablecoins serve different functions across the expanding digital asset market. Wood revised her 2030 Bitcoin forecast, linking the shift to growing stablecoin transaction volume. CNBC data shows Saylor framed Bitcoin as digital capital rather than a transactional instrument. Wu Blockchain notes Saylor’s view that stablecoins may scale to trillions without [.] The post Michael Saylor Responds to Cathie Wood on Bitcoin and Stablecoins appeared first on Blockonomi.

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Bitcoin Whales’ $32 Billion Buy Drives Price Above $105,000

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The post Bitcoin Whales’ $32 Billion Buy Drives Price Above $105,000 appeared com. Bitcoin has shown notable resilience in recent days, avoiding a break below the crucial $100,000 support level despite heavy market volatility. The crypto king’s ability to maintain its position despite pressure signals underlying strength. What many perceive as a bearish phase has instead revealed strong structural support within the market. Bitcoin Is Doing Better Than Anticipated The Realized Profit/Loss Ratio, which measures investors’ net profitability, supports this bullish interpretation. The 90-day simple moving average (SMA) currently stands at 9. 1, reflecting a moderate cooldown from July’s peak. Yet, profits remain more than twice as high as levels recorded during the last two mid-cycle bear phases, when the P/L Ratio dropped to 3. 4. Sponsored Sponsored This shows that investors are not in panic mode and that recent dips are largely driven by mild profit-taking rather than capitulation. The sustained profitability across Bitcoin holders suggests that market participants are confident about the long-term outlook. . Bitcoin Realized P/L Ratio. These large investors are seizing the opportunity to accumulate during moments of weakness. Addresses holding between 10, 000 and 100, 000 BTC have collectively purchased more than 300, 000 BTC this week after prices briefly touched $101,000. This accumulation spree, valued at nearly $32 billion, demonstrates high conviction among large-scale holders. Their buying activity has helped drive Bitcoin’s recovery past the $105,000 mark, strengthening the case for an extended uptrend. Bitcoin Whale Holding. The recent whale-driven surge pushed BTC past its critical psychological resistance, signaling renewed investor optimism. Given the improving sentiment and rising institutional accumulation, Bitcoin.

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Astronomy Picture of the Day- Government shutdown so no APOD Today. I will dig up some of my favorites – Global Ocean Suspected on Saturn’s Enceladus

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Explanation: Do some surface features on Enceladus roll like a conveyor belt? A leading interpretation of images taken of Saturn’s most explosive moon indicate that they do. This form of asymmetric tectonic activity, very unusual on Earth, likely holds clues to the internal structure of Enceladus, which may contain subsurface seas where life might be able to develop. Pictured above is a composite of 28 images taken by the robotic Cassini spacecraft in 2008 just after swooping by the ice-spewing orb. Inspection of these images show clear tectonic displacements where large portions of the surface all appear to move all.

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Bitcoin Sell-Off Continues — Downside Momentum Builds Across Crypto Market

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Bitcoin price is gaining bearish pace below $108,800. BTC could continue to move down if it stays below the $109,500 resistance. Bitcoin started a fresh decline below the $109,000 support. The price is trading below $108,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $109,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it trades below the $105,000 zone. Bitcoin Price Dips Further Bitcoin price failed to stay above the $110,000 support level and started a fresh decline. BTC dipped below $109,000 and $108,800 to enter a bearish zone. The decline was such that the price traded below the 76. 4% Fib retracement level of the upward move from the $106,310 swing low to the $111,000 high. Besides, there is a bearish trend line forming with resistance at $109,400 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $108,000 and the 100 hourly Simple moving average. BTC tested the 1. 236 Fib extension level of the upward move from the $106,310 swing low to the $111,000 high. If the bulls attempt a recovery wave, the price could face resistance near the $108,200 level. The first key resistance is near the $108,800 level. The next resistance could be $109,500 and the trend line. A close above the $109,500 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance. Any more gains might send the price toward the $111,500 level. The next barrier for the bulls could be $112,000 and $112,500. More Losses In BTC? If Bitcoin fails to rise above the $108,800 resistance zone, it could continue to move down. Immediate support is near the $106,200 level. The first major support is near the $105,500 level. The next support is now near the $105,000 zone. Any more losses might send the price toward the $104,200 support in the near term. The main support sits at $103,500, below which BTC might struggle to recover in the short term. Technical indicators: Hourly MACD The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) The RSI for BTC/USD is now below the 50 level. Major Support Levels $106,200, followed by $105,500. Major Resistance Levels $108,800 and $109,500.
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