{"id":624319,"date":"2024-06-13T01:00:12","date_gmt":"2024-06-13T01:00:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=624319"},"modified":"2024-06-12T18:58:50","modified_gmt":"2024-06-12T18:58:50","slug":"crypto-surge-over-bitcoin-stalls-as-investor-enthusiasm-wanes","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/crypto-surge-over-bitcoin-stalls-as-investor-enthusiasm-wanes\/","title":{"rendered":"Is The Crypto Surge Over? Bitcoin Stalls At $72,000 As Investor Enthusiasm Wanes"},"content":{"rendered":"

Recent reports from CryptoQuant analysts on the QuickTake platform highlight<\/a> a notable decline in market sentiment across Bitcoin and altcoin investors.<\/p>\n

According to Crypto Dan, a leading analyst at CryptoQuant, “After Bitcoin’s recent failure to breach the $72,000 mark, there is a noticeable cooling off<\/a> of investor enthusiasm.”<\/p>\n

Related Reading: Is Bitcoin Overheated Right Now? This Metric Suggests No<\/a><\/div>\n

Bitcoin Slump In Activity Signals Market Adjustment<\/h2>\n

Data reveals a significant drop in active Bitcoin addresses, signaling a reduction in transactional activity since peaking in March.<\/p>\n

\"Bitcoin
Bitcoin active addresses. | Source; CryptoQuant<\/a><\/figcaption><\/figure>\n

This downtrend reflects Bitcoin\u2019s recent price corrections and prolonged periods of sideways movement. Crypto Dan suggests that the sentiment among altcoin investors may be deteriorating even further, hinting that we may be nearing the end of a market adjustment period.<\/p>\n

\n

Weakening investment sentiment among $BTC<\/a> & altcoin market participants<\/p>\n

\u201cAfter reaching a peak in March, it has decreased significantly due to #Bitcoin<\/a>‘s correction & sideways movement over a period of three months.\u201d \u2013 By @DanCoinInvestor<\/a><\/p>\n

Link \ud83d\udc47https:\/\/t.co\/4dUs6tzkCx<\/a><\/p>\n

\u2014 CryptoQuant.com (@cryptoquant_com) June 12, 2024<\/a><\/p><\/blockquote>\n

In a similar vein, CryptoAsh, another prominent crypto analyst, shared<\/a> insights via the social platform X, noting the absence of significant market-moving narratives that previously propelled massive rallies<\/a>, such as ICOs in 2017, DeFi in 2020, and NFTs in 2023.<\/p>\n

He stated, “Unless we see the ETH ETFs come into play, altcoins will likely continue declining against BTC. However, this period could represent an optimal time for strategic accumulation.”<\/p>\n

Signs Of Recovery Amid Market Turbulence<\/h2>\n

Despite recent challenges, there are emerging signs of recovery within the crypto market. Following the US CPI’s latest report indicating slowed inflation, Bitcoin experienced a 4.7% increase over the past 24 hours, adjusting its price\u00a0to $69,573<\/a>.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Adding to the complexity of the market dynamics<\/a>, a recent analysis by CryptoQuant analyst Abramchart revealed<\/a> significant Bitcoin acquisitions by whales during recent price dips, suggesting that large investors are actively increasing their holdings.<\/p>\n

\"Bitcoin
Bitcoin inflows to accumulation addresses. | Source: CryptoQuant<\/a><\/figcaption><\/figure>\n

Meanwhile, the broader altcoin market has shown resilience<\/a>, with the total market capitalization climbing from $1.038 trillion to a 24-hour peak of $1.108 trillion. Leading altcoins like Ethereum, Solana, and XRP have posted gains of 5.2%, 8.7%, and 4.7%, respectively.<\/p>\n

A report by analyst Burakkesmeci pointed<\/a> to a substantial Ethereum outflow from Coinbase, marking the largest withdrawal this year and hinting at possible large-scale institutional activity.<\/p>\n

These transactions, often involving sums between $400 million to $1.1 billion, underscore a potentially bullish outlook for Ethereum, especially in anticipation of new developments like the trading of spot ETFs.<\/p>\n

Related Reading: Bitcoin Price Prediction: Major Analysts Say BTC Is Headed For 6-Digit ATH<\/a><\/div>\n

The exact implications of these movements remain to be seen, but they are likely to significantly impact Ethereum’s price trajectory in the medium to long term.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent reports from CryptoQuant analysts on the QuickTake platform highlight a notable decline in market sentiment across Bitcoin and altcoin investors. According to Crypto Dan, a leading analyst at CryptoQuant, “After Bitcoin’s recent failure to breach the $72,000 mark, there is a noticeable cooling off of investor enthusiasm.” Related Reading: Is Bitcoin Overheated Right Now? This Metric Suggests No Bitcoin Slump In Activity Signals Market Adjustment Data reveals a significant drop in active Bitcoin addresses, signaling a reduction in transactional activity since peaking in March. This downtrend reflects Bitcoin\u2019s recent price corrections and prolonged periods of sideways movement. Crypto Dan suggests that the sentiment among altcoin investors may be deteriorating even further, hinting that we may be nearing the end of a market adjustment period. Weakening investment sentiment among $BTC & altcoin market participants \u201cAfter reaching a peak in March, it has decreased significantly due to #Bitcoin‘s correction & sideways movement over a period of three months.\u201d \u2013 By @DanCoinInvestor Link \ud83d\udc47https:\/\/t.co\/4dUs6tzkCx \u2014 CryptoQuant.com (@cryptoquant_com) June 12, 2024 In a similar vein, CryptoAsh, another prominent crypto analyst, shared insights via the social platform X, noting the absence of significant market-moving narratives that previously propelled massive rallies, such as ICOs in 2017, DeFi in 2020, and NFTs in 2023. He stated, “Unless we see the ETH ETFs come into play, altcoins will likely continue declining against BTC. However, this period could represent an optimal time for strategic accumulation.” Signs Of Recovery Amid Market Turbulence Despite recent challenges, there are emerging signs of recovery within the crypto market. Following the US CPI’s latest report indicating slowed inflation, Bitcoin experienced a 4.7% increase over the past 24 hours, adjusting its price\u00a0to $69,573. Adding to the complexity of the market dynamics, a recent analysis by CryptoQuant analyst Abramchart revealed significant Bitcoin acquisitions by whales during recent price dips, suggesting that large investors are actively increasing their holdings. Meanwhile, the broader altcoin market has shown resilience, with the total market capitalization climbing from $1.038 trillion to a 24-hour peak of $1.108 trillion. Leading altcoins like Ethereum, Solana, and XRP have posted gains of 5.2%, 8.7%, and 4.7%, respectively. A report by analyst Burakkesmeci pointed to a substantial Ethereum outflow from Coinbase, marking the largest withdrawal this year and hinting at possible large-scale institutional activity. These transactions, often involving sums between $400 million to $1.1 billion, underscore a potentially bullish outlook for Ethereum, especially in anticipation of new developments like the trading of spot ETFs. Related Reading: Bitcoin Price Prediction: Major Analysts Say BTC Is Headed For 6-Digit ATH The exact implications of these movements remain to be seen, but they are likely to significantly impact Ethereum’s price trajectory in the medium to long term. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":624324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[134,428,1119,78790,6664,8323,1946,83626,4531],"class_list":["post-624319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-altcoin","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto","tag-eth","tag-ethereum","tag-solana","tag-xrp"],"acf":[],"yoast_head":"\nIs The Crypto Surge Over? 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is The Crypto Surge Over? 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