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Ether Price Pumps, But SEC Decisions Could Spoil the Party
Coinedition·2024/05/20 14:13
Bitcoin's futures basis increases after last week's softer US inflation print
Bitcoin’s three-month annualized basis increased above 10% over the weekend, showing the market is building positive sentiment, analysts say.
The Block·2024/05/20 13:37
Solana (SOL), Injective (INJ), and Thorchain (RUNE), primed for the next big moves
Cryptodaily·2024/05/20 12:40
Ethereum funds face $23 million in outflows amid ETF uncertainty
Cryptobriefing·2024/05/20 12:37
US spot bitcoin ETF rebound continues with nearly $1 billion in net weekly inflows
U.S. spot bitcoin ETFs saw a continued increase in net inflows last week, registering $948.3 million.Total net inflows since the ETFs started trading in January have now surpassed $12.5 billion.
The Block·2024/05/20 12:04
Gnosis Price Rises 20% After Thanefield Capital's $30M Token Buyback Offer
Cointime·2024/05/20 12:04
Abraxas Capital Management deposited all 3,480 ETH into CEX
Cointime·2024/05/20 12:04
Bitcoin’s Price Poised for New ATH after $67,500 Resistance Level: 10x Research
Cryptonews·2024/05/20 11:26
CoinShares: Digital Asset Investment Products Saw Net Inflows of $932 Million Last Week
PANews·2024/05/20 11:16
Litecoin whales have accumulated over 2.75 million LTC in the past 30 days
IntoTheBlock·2024/05/20 11:11
Flash
02:06
Grayscale: On-chain Metrics Show Bitcoin Is Undervalued, But Has Not Yet Reached Previous Cycle LowsBlockBeats News, June 10th, According to the latest report "Is Bitcoin Cheap Yet?" released by Zach Pandl, Director of Grayscale Research, as the Bitcoin price dropped below $60,000 and hit a new low in this cycle, a comprehensive analysis of various on-chain valuation indicators indicates that Bitcoin is currently undervalued. However, the attractiveness of this valuation is still weaker than the bottom of the previous market cycle (such as post-FTX collapse).
The report points out that a comprehensive valuation model composed of three on-chain indicators—NUPL (Net Unrealized Profit/Loss), Price/CVDD, and Market Cap/Thermo Cap—shows that the Bitcoin price is significantly below its long-term average. Nevertheless, Grayscale believes that the decline in this bear market cycle may be shallower than in previous cycles, due to reasons such as the relatively moderate rise in the previous bull market and market structure improvements resulting from the adoption of spot ETFs, wealth management platform allocations, and institutional adoption.
Regarding future trends, Grayscale believes that investors should pay close attention to two short-term catalysts: the progress of the U.S. "CLARITY Act" in the Senate and whether high-leverage Bitcoin holders can stabilize their balance sheets. The report states that institutions remain optimistic about the eventual passage of the CLARITY Act; however, it predicts that there is still considerable uncertainty about the market's perception of the outcome. The current price level provides a Dollar Cost Averaging (DCA) opportunity for long-term investors, while short-term traders may wait for further clarity on the CLARITY Act before making decisions.
00:58
Spot Gold Falls Below $4200/Ounce, Hits Nearly 3-Month Low On June 10, spot gold continued to decline, falling below $4200 per ounce for the first time since March 23, with a daily drop of 1.4%. (Jin Shi)
00:38
Bitmine Acquires Additional 75,000 ETH in Last 8 HoursOn June 10, according to monitoring by Lookonchain, Bitmine, the Ethereum treasury company owned by Tom Lee, has purchased an additional 75,000 ETH through an exchange and FalconX in the past 8 hours, valued at approximately $123 million.
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