Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Bitcoin’s Next Big Move? CryptoQuant Says These Alerts Are To Watch

Source Newsbtc

On-chain analytics firm CryptoQuant has revealed the five key Bitcoin on-chain alerts that could be to keep an eye on in the coming week.

Bitcoin Is Observing Developments On These Metrics

In a new thread on X, CryptoQuant has discussed about some Bitcoin on-chain alerts that could be to watch amid the consolidation phase in the cryptocurrency’s price.

The first indicator shared by the analytics firm is the 60-day change in the market cap of USDT, the number one stablecoin.

As is visible in the above chart, the 60-day change in the USDT market cap has continued to sit at a notable positive level recently, implying the stablecoin has been witnessing growth.

Stablecoins are one of the main inlets of capital into the cryptocurrency sector, so growth in them can generally be a positive sign. Currently, the 60-day change in the USDT market cap has a value of $10 billion. “This is a clear sign of fresh liquidity entering the market,” notes CryptoQuant.

Another stablecoins-related indicator that can be relevant for Bitcoin is the Stablecoin Supply Ratio (SSR), which measures the ratio between the market cap of BTC and combined that of all stables.

A low value in the indicator can prove to be a bullish sign, as it implies investor purchasing power in the form of stablecoins is high compared to the Bitcoin market cap.

From the below chart, it’s apparent that the Relative Strength Index (RSI) of the BTC SSR stands at a value of 21 right now, which is considered to be inside the “buy” territory.

Another bullish sign that’s developing for Bitcoin is in the Accumulator Address Demand, an indicator that measures the demand that’s coming from addresses that have zero history of selling the cryptocurrency. These perennial HODLers now own 298,000 BTC, which is a new record.

A metric that’s still inside the bearish zone, however, is the Inter-Exchange Flow Pulse (IFP). This metric keeps track of the BTC flows happening between spot and derivatives exchanges.

The indicator has been following a downtrend during the past few months, which is considered to be a bear market pattern. “Watch closely: a shift upward often marks the start of bullish momentum,” says the analytics firm.

The final metric shared by CryptoQuant is the Realized Price of the short-term holders (STHs), which measures the average cost basis of the Bitcoin investors who got in during the last 155 days.

During BTC’s recent plunge, the STHs briefly dipped into losses, but the asset has since recovered above their Realized Price of $109,775. Bullish trends have historically continued when the coin has traded above this level.

BTC Price

Bitcoin has climbed back to $114,200 following its recovery surge in the last couple of days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Sep 23, Wed

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Sep 24, Thu

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Author TradingKey

Sep 24, Thu

As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

WTI (USOIL) Is down 2.03% on Sep 25: Here Is Why WTI (USOIL) is down 2.03% at Sep 24 22:20(UTC+0), now at $92.517, with a 7-day down of 3.63%.What is driving WTI (USOIL)’s stock price down today?The drop in WTI crude oil prices was primarily driven by

Author TradingKey

Sep 25, Fri

WTI (USOIL) is down 2.03% at Sep 24 22:20(UTC+0), now at $92.517, with a 7-day down of 3.63%.What is driving WTI (USOIL)’s stock price down today?The drop in WTI crude oil prices was primarily driven by

Popular Symbols