Latest news with #Glassnode
Yahoo
2 days ago
- Business
- Yahoo
Bitcoin Faces Weakest Monthly Growth Since July as Whales Counteract ETF Inflows
Bitcoin BTC is on track to record its weakest monthly performance in a year amid a puzzling mix of consistent spot ETF inflows and signs of on-chain selling by whales and small wallets. As of writing, BTC changed hands at around $107,000, up just 2% for the month, according to CoinDesk data. That's the smallest monthly gain since last July. The dour price action appears confounding as the U.S. spot exchange-traded funds (ETFs) have continued to see strong uptake, registering $3.9 billion in net inflows in consecutive weeks. Besides, the corporate treasury adoption continues at brisk pace globally. However, on-chain data sourced from Glassnode, particularly one key metric called the Accumulation Trend Score, which breaks down the behavior of different wallet cohorts, doesn't paint a rosy picture. The metric measures the relative strength of accumulation for each cohort based on the size of entities and the amount of BTC acquired over the last 15 days. A value closer to 1 suggests that participants in that cohort are accumulating coins, whereas a value closer to 0 signals distribution. Entities such as exchanges and miners are excluded from this calculation. Currently, holders with balances between 10 and 10,000 BTC are in accumulation mode, though their behavior fluctuates between buying and selling, indicating they are more opportunistic traders rather than consistent buyers or sellers. Conversely, whales holding 10,000 BTC or more are leaning slightly toward distributing their holdings, while smaller holders are also net sellers. Between January and April 2025, all cohorts were predominantly selling, but accumulation resumed once bitcoin bottomed in April near the $76,000 level. Now, the asset appears to have entered another consolidation phase. In its latest 'Week On-Chain' report, Glassnode suggests that profit-taking activity is beginning to slow. Realized profits have reached $650 billion in this cycle compared to $550 billion during the previous cycle. Glassnode attributes this trend to a market cooldown, further emphasizing the ongoing consolidation period. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
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Bitcoin Illiquid Supply Climbs to Over 14M BTC, Reflects Strong HODL Trend
Bitcoin's BTC illiquid supply has surged to 14.37 million BTC, jumping from 13.9 million BTC at the start of 2025, according to Glassnode data. With bitcoin's current circulating supply standing at approximately 19.8 million, this means over 72 percent of all mined BTC is now classified as illiquid. Illiquid supply refers to the portion of BTC held by entities with minimal spending behavior, such as long-term investors and cold wallet holders. These coins are effectively taken out of the market, reducing the amount available for trading. As more investors opt to store bitcoin rather than trade it, the liquid portion of the supply shrinks, tightening market availability. This trend is significant because a growing illiquid supply often reflects increasing investor confidence and long-term conviction. It also creates the potential for a supply-side shock, where rising demand meets limited available supply, historically associated with bullish price movements. The continued rise in bitcoin illiquidity supports the narrative of bitcoin as a store of value. If this trajectory holds, it could place upward pressure on price, particularly in the context of heightened market interest and diminishing miner issuance. This underscores liquidity analysis as a key indicator for market sentiment and future price action.
Yahoo
4 days ago
- Business
- Yahoo
SOL Surges 8%, With Its CME Futures Volume Hitting an All-Time High
Solana's SOL token SOL is trading at $145.47, up 7.63% in the past 24 hours, as traders responded to a breakout surge backed by strong futures activity. The rally gained traction after a sharp bounce from $133.55 to $144.10, supported by above-average trading volumes during the 17:00 and 22:00 hours, according to CoinDesk Research's technical analysis model. Per a post on X earlier today by crypto analytics firm Glassnode, CME futures volume for SOL hit an all-time high of 1.75 million contracts, reflecting an increase in institutional interest. This marked the highest volume level since the exchange introduced SOL futures in March, signaling aggressive positioning by sophisticated market participants as price approached the $145 zone. In a separate development with longer-term significance, Kazakhstan's government issued a press release on May 30 announcing the creation of the Solana Economic Zone Kazakhstan (SEZ KZ), the first such initiative in Central Asia built on Solana's blockchain. The launch event took place in Astana with support from the Solana Foundation and government agencies. According to the Ministry of Digital Development, Innovation and Aerospace Industry, the SEZ will serve as a testbed for asset tokenization, blockchain engineering education, and foreign startup onboarding. The SEZ initiative includes three strategic pillars: Tokenized Capital Markets: A pilot program with AIX, Solana Foundation, Jupiter, and Intebix aims to introduce tokenized financial instruments into Kazakhstan's infrastructure. Web3 Talent Development: A nationwide blockchain education initiative will be launched in partnership with universities and Astana Hub. Startup Onboarding: With support from Forma, the country plans to attract international Web3 firms through infrastructure access, regulatory clarity, and business incentives. Technical Analysis Highlights SOL gained 7.63%, climbing from $133.55 to $145.47 within a $15.94 range. The sharpest rally occurred at 22:00, when price spiked to $146.90 on 3.92M volume. A high-volume support level was established at $132.43 during the 17:00 hour. SOL entered a consolidation zone between $143 and $146 with resistance at $146.55. A V-shaped recovery followed a dip from $144.88 to $143.59. Strong support emerged at $143.60 with 38,097 SOL volume at 13:53. A short-term support band formed between $143.60 and $143.80. Immediate resistance was observed at $144.30. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin Set for Biggest Mining Difficulty Drop Since July 2021
Mining difficulty on the Bitcoin BTC blockchain is on course to drop by the most since July 2021 after the amount of mining power securing the network slid about 30% in two weeks. According to data from a downward difficulty adjustment of around 9% is projected within the next five days. That would be the most since the China mining ban four years ago, when the hashrate, the total computational power used to mine blocks, plummeted 50% to 58 exahashes per second (EH/s) and bitcoin was trading near $30,000. The difficulty adjusts every 2,016 blocks to ensure that blocks continue to be mined at roughly 10-minute intervals. After the recent decline, the hashrate is now just under 700 EH/s, according to Glassnode data. The largest cryptocurrency by market cap was trading recently around $105,300. Significant hashrate and difficulty corrections are not unusual during the northern hemisphere's summer. Elevated electricity prices, driven by higher air conditioning demand and strained power grids, often lead miners to temporarily shut off machines, especially older or less efficient ones. This seasonal pattern has been observed in several previous years. The anticipated drop in mining difficulty will provide meaningful relief for miners. The hashprice, or miner revenue per exahash, currently sits at $51.9. This metric reflects the estimated daily income in dollars a miner earns per EH/s contributed to the network, based on block rewards and transaction fees. As difficulty decreases, mining becomes easier, meaning miners can earn more revenue for the same amount of computational effort. Assuming bitcoin's price and transaction fees remain stable or increase, the hashprice should rise significantly in the coming days, helping to offset recent profitability pressure. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
6 days ago
- Business
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US stocks aren't safe in heated global tensions anymore
US stocks aren't safe in heated global tensions anymore originally appeared on TheStreet. Bitcoin's long-held belief as a major volatile asset has been challenged amid the Iran-Israel conflict. On June 21, the United States carried out a strike on Iran, where it bombed three of its main nuclear facilities — Fordo, Natanz, and Isfahan. While Bitcoin briefly fell from $103,000 to $100,000, it never dropped below the $100,000 mark, unlike in previous cycles. As of June 23, Bitcoin's 60-day realized volatility had fallen to approximately 27% to 28%, according to Bitwise Europe's André Dragosch, which is lower than the S&P 500, which declined by 30%, the NASDAQ 100 by approximately 35%, and "Magnificent 7" by 40%.The "Magnificent Seven" are the top seven U.S. tech stocks that have performed exceptionally well: Apple, Microsoft, Amazon, Nvidia, Alphabet, Meta, and Tesla. However, this is not a one-off situation for Bitcoin. Historically speaking, Bitcoin's volatility has been the lowest. In February 2022, Bitcoin hit volatility levels of 60% to 65% during the onset of the Russia-Ukraine conflict, showing a stark difference from the current pattern, per data available on Glassnode. Analysts also suggest that the difference is mainly attributed to long-term holders and the use of institutional to the Glassnode data, over 30% of Bitcoin's circulating supply is controlled by just 216 centralized entities — like exchange-traded funds (ETFs) issuers, crypto exchanges, and corporate treasuries — compared to long-term holders, who now control a record 14.53 million BTC. Arthur Hayes, the co-founder of BitMEX, believes the price trajectory for BTC will remain bullish, supported by both central bank policies and investor confidence. At press time, Bitcoin was trading at $101,197.17, up by 2.16% in the last 24 hours, as per Kraken's price feed. US stocks aren't safe in heated global tensions anymore first appeared on TheStreet on Jun 23, 2025 This story was originally reported by TheStreet on Jun 23, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
