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
Blockchain

Bitcoin’s Social and Trading Volumes Hit a 5-Week High as Address Activity Surge to a 3-Week High

by Miki 07/29/2021
by Miki 07/29/2021 0 comment

As Bitcoin (BTC) continues testing the $40K waters, its social and trading volumes go through the roof, as acknowledged by Santiment.

The on-chain metrics provider explained:

“How did Bitcoin recover to $40K out of the blue? 3 of our key leading metrics all skyrocketed! BTC’s social and trading volumes hit a 5-week high, and address activity hit a 3-week high. When this trio jumps in unison, good things typically happen.”

Image

Bitcoin’s address activity is also not being left behind because it hit a record-high in the last three weeks. Recently, the number of daily active BTC addresses surged by 44.1%.

Therefore, Bitcoin daily active addresses tend to be correlated with the price action, given that investors often follow the price rather than use the asset. 

Heating Bitcoin futures markets

According to data analytic firm IntoTheBlock:

“Alongside the return to $40K, Bitcoin futures markets are heating up once again. Funding rates are once again neutral or positive across several major exchanges, pointing to a majority of long positions being opened over the past few days.”

Image

BTC funding rate recently flipped over to positive as 2.1 million returned to be profitable. The crypto community had been waiting with bated breath to see Bitcoin’s next move as low volatility continued engulfing this market.

Is Institutional money back?

Jan Wuestenfeld, an on-chain analyst, believes that a negative correlation between the dollar index (DXY) and Bitcoin could signal a return of institutional money in the BTC market. He pointed out:

“The USD index (DXY) and Bitcoin’s price have started to show a negative correlation again. This negative correlation has been there this bull-run until the beginning of this year and then did break down. Of course too early to tell, but it might be an indication that inst. money is back.”

Image

Given that 325,000 BTC was previously purchased at this level with significant resistance expected around $42K, the current upward momentum will continue to be observed. 

Image source: Shutterstock



Source link

Views: 0
3Week5WeekActivityAddressBitcoinsHighHitSocialSurgeTradingvolumes
Share
0
FacebookTwitterPinterestEmail
previous post
Dogecoin And Shiba Inu Weekly Recap: DOGE For Dog Treats And A Stuck Donation
next post
Assessing the impact of Cardano failing to make this move

Related Posts

Iran Bans Crypto Mining to Avert Major Blackouts...

12/29/2021

Italian Sports Car Maker Ferrari Inks Multi-Year Deal...

12/29/2021

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

12/28/2021

Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute...

12/28/2021

Binance Trading Platform Licenses in Bahrain, Canada

12/28/2021

Tokenized Bitcoin in Circulation Nears a Half Million...

12/28/2021

Ethereum 2.0 Full Upgrade Will Prompt a 1%...

12/28/2021

Iranian Crypto Miners get Cut Off as Country...

12/28/2021

Kraken Develops NFT Trading Platform, Offering Token-Backed Loans

12/27/2021

Crypto Review 2021 | Blockchain News

12/27/2021

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

  • Revolutionize Opportunities in Decentralized Finance

  • Cardano leads weekly inflows, but what’s next for investors

  • Crypto Worth $250M Seized by British Police, Breaks Record Made Weeks Ago

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)$30,150.003.46%
  • ethereumEthereum(ETH)$2,009.282.42%
  • tetherTether(USDT)$1.000.04%
  • usd-coinUSD Coin(USDC)$1.000.07%
  • binancecoinBNB(BNB)$305.433.74%
  • rippleXRP(XRP)$0.4197261.15%
  • Binance USDBinance USD(BUSD)$1.00-0.02%
  • cardanoCardano(ADA)$0.531.42%
  • SolanaSolana(SOL)$52.062.33%
  • dogecoinDogecoin(DOGE)$0.0864650.77%
  • polkadotPolkadot(DOT)$10.041.36%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,158.003.69%
  • Lido Staked EtherLido Staked Ether(STETH)$1,973.562.61%
  • AvalancheAvalanche(AVAX)$29.78-2.59%
  • tronTRON(TRX)$0.0737172.17%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-0.02%
  • daiDai(DAI)$1.000.39%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$71.145.18%
  • CronosCronos(CRO)$0.1949153.69%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.970.42%
  • matic-networkPolygon(MATIC)$0.65-0.02%
  • FTX TokenFTX Token(FTT)$30.731.91%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.030.26%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$194.270.24%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.111.60%