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Crypto

Bitcoin short-term holders stay in profit for 30 days; CryptoQuant calls it bull-market return signal

Bitcoin short-term holders have stayed in profit for about 30 days, raising the possibility of a shift to a bullish market, an analysis showed. CryptoQuant described the trend as a key signal for a long-term uptrend to return in this cycle. As of Sept. 15, $168.2 billion of short-term holdings were in profit and $102.6 billion were below cost. Other on-chain indicators, including SOPR, also point to improving conditions.

Crypto

Bitcoin stalls as volume, volatility shrink; Grayscale says it resembles summer 2023 standstill

Bitcoin has entered a standstill similar to summer 2023 as trading volume and volatility have shrunk together, an analysis showed. Grayscale said spot Bitcoin volume and realised volatility have fallen to cycle lows and the market reacts less to news. One-month implied volatility fell to 32 percent. The firm said the calm may not last, while noting outflows from U.S. spot Bitcoin ETFs and a drop in corporate holdings.

Crypto

Glassnode says speculative traders drive resistance for bitcoin around $60,000

Bitcoin has repeatedly failed to break higher around $68,700, with selling pressure from recent buyers taking profits or cutting losses cited as a key factor. On-chain analytics firm Glassnode said the average purchase price of short-term holders who bought within the past six months is acting as a major resistance level. Bitcoin has traded in a tight range since early June, while large holdings concentrated between $62,000 and $65,000 are reinforcing the band.