The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Bitcoin

1.65 Million Bitcoin (BTC) Accumulated in this Strong On-Chain Support Zone

by Miki 08/30/2021
by Miki 08/30/2021 0 comment

Bitcoin’s (BTC) price has moved sideways after facing rejection at the $50K level last week. The top cryptocurrency has been moving in the $45K-$50K over the past week which has also become a key on-chain support zone. The top cryptocurrency is moving in a tight range with no significant price change but looks to test $50K again.

Bitcoin
Source: TradingView

Glassnode’s UTXO Realized Price Distribution for Bitcoin showed nearly 1.65 million BTC has an on-chain cost basis in the $45K-$50K range forming a strong support zone. The next target support zone for the top cryptocurrencies lies in the $53.7K to $59K zone which has nearly 1.33 million in Bitcoin accumulated in that zone.

Source: Glassnode

Apart from these key on-chain support zones, nearly 2.98 million BTC  lies in the green zone in the $31k to $40k price range which is indicative of large accumulation demand in that range. The price momentum has slowed down in the final week of the month and bearish sentiments have started to crop up in the short term.

Bitcoin Traders Getting Impatient

It has been nearly a week since Bitcoin price topped $50K for a brief period before falling below the key resistance again. On-chain analysis by Santiment suggests BTC traders are growing impatient again with the sideways movement of the price and commentary has turned negative.

😎 Now six days since #Bitcoin crossing over (and then crossing back) $50k, traders appear to have gotten restless with the lack of return back to this coveted psychological price. Commentary has turned negative again, which is a solid recipe for a bounce. https://t.co/GlmCoff9Cw pic.twitter.com/BcfhTMnq9G

— Santiment (@santimentfeed) August 29, 2021

According to Santiment, this is a perfect time for the top cryptocurrency to make a bounce back as evident from the past. The on-chain key support zone for the top cryptocurrency is a relief given the strong demand in the current price zone, however, there is a stronger accumulative demand in the lower price region, so $50K becomes a crucial juncture.

The long-term outlook remains highly bullish as predictions of $100K are still on and as we enter September conquering all the FUDs of the past quarter, a new price momentum can be expected that could help BTC move past the key resistance.



Source link

Views: 1
AccumulatedBitcoinBTCmilliononchainstrongSupportzone
Share
0
FacebookTwitterPinterestEmail
previous post
Bitcoin, Solana, Terra Price Analysis: 30 August
next post
China to Set Up Digital Yuan-Backed Global Clearing Network for Mobile Payments

Related Posts

Elon Musk thinks this individual could be the...

12/29/2021

Bitcoin price trades under $48k as $6 billion...

12/29/2021

Indian security regulator warns mutual funds against investing...

12/29/2021

Bitcoin Will Remain ‘Digital Gold’, But Not A...

12/29/2021

Key Factors that Propelled Ether’s 4X Growth over...

12/28/2021

Gold Proponent Peter Schiff Claims Bitcoin is Losing...

12/28/2021

Trend Is Again Shifting From Outflows To Inflows

12/28/2021

Why Bitcoin Will Never Surpass The Market Cap...

12/28/2021

Crypto hacks led to $9.8 billion in losses...

12/28/2021

Is Bitcoin (BTV) Going To Hit $100k? Ambitious...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • StarLink Crypto Gains More Than 100% in 3 Days after SpaceX Launches Satellites into Space

  • XRP, Dogecoin, BAT Price Analysis: 31 October

  • Squid Game Crypto Causes Authenticity Concerns as Investors Cannot Access Funds

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,982.00-2.49%
  • ethereumEthereum(ETH)$2,037.87-2.55%
  • tetherTether(USDT)$1.00-0.20%
  • usd-coinUSD Coin(USDC)$1.00-0.27%
  • binancecoinBNB(BNB)$300.58-1.06%
  • rippleXRP(XRP)$0.430056-2.69%
  • cardanoCardano(ADA)$0.56-4.57%
  • SolanaSolana(SOL)$54.65-3.33%
  • Binance USDBinance USD(BUSD)$1.000.03%
  • polkadotPolkadot(DOT)$10.84-4.35%
  • dogecoinDogecoin(DOGE)$0.089728-1.39%
  • AvalancheAvalanche(AVAX)$33.52-3.41%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,924.00-2.54%
  • Lido Staked EtherLido Staked Ether(STETH)$2,000.70-2.75%
  • tronTRON(TRX)$0.069593-2.32%
  • Shiba InuShiba Inu(SHIB)$0.000012-2.12%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.00-0.14%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • CronosCronos(CRO)$0.195916-1.05%
  • litecoinLitecoin(LTC)$68.99-0.68%
  • matic-networkPolygon(MATIC)$0.69-4.15%
  • LADZLADZ(LADZ)$0.0686894.36%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.72-4.61%
  • leo-tokenLEO Token(LEO)$4.91-1.26%
  • FTX TokenFTX Token(FTT)$31.85-0.23%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$202.03-3.81%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.57-1.04%