Finance News

Story: Bitcoin Hovers Near $70K as Inflation Fears Mount

By Bruce Buterin

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Network Activity Slows Down. Onchain activity tells a different story though. Transfer volume crashed 31% last month while…

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Institutions Get Cold Feet. Institutional money is backing away. Spot Bitcoin exchange-traded funds saw net outflows recently,…

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Bitcoin sits around $70,500 right now. The cryptocurrency dropped from its recent high near $76,000 as traders worry about rising energy costs and geopolitical tensions involving…

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The market looks pretty cautious these days, but Bitcoin isn't crashing like some expected. VanEck's latest ChainCheck report from mid-March shows something interesting - while…

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Options traders are getting defensive. Real defensive.

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VanEck's data shows the put-to-call open interest ratio hit 0.77 on average - the highest we've seen since mid-2021.

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Long-term holders aren't selling much. Transfer volume decreased across all age groups, meaning older coins are just sitting there doing nothing.

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Miners are being pretty smart about things. Mining revenues fell 11% over the past month, but they're not panic-selling their stashes.

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Institutional money is backing away. Spot Bitcoin exchange-traded funds saw net outflows recently, which is a complete reversal from the inflow trend we saw before.

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Morgan Stanley just filed with the SEC to list their spot Bitcoin ETF under ticker MSBT on NYSE Arca. As of right now, Bitcoin's trading at $70,371.

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VanEck's report points out something pretty interesting about historical patterns. When the put-to-call ratio hits current levels like we're seeing now, Bitcoin has typically…

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The institutional behavior shift is pretty clear. Those spot Bitcoin ETFs that were seeing steady inflows just weeks ago are now watching money walk out the door.

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Market participants are watching miner behavior closely. Despite that 11% revenue drop, miners haven't ramped up sales of their existing Bitcoin reserves.

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Morgan Stanley's MSBT ticker filing represents another step toward mainstream Bitcoin adoption.

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Glassnode data shows wallet activity shifting in interesting ways. The number of wallets holding over 1,000 BTC increased 2% over the past month.

The Currency Analytics

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