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How long before Bitcoin is truly uncorrelated with stocks?

Time and again, the digital assets industry has witnessed a domino effect. In case you missed it, on 21st September, Bitcoin’s price declined by 6.46%, falling from $10996 to $10286. A little recovery was observed on the 22nd, but on the 23rd, the asset shaved another 3.82 percent. The bearish floodgates in the crypto market […] The post How long before Bitcoin is truly uncorrelated with stocks? appeared first on AMBCrypto.

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Bitcoin: Survived – Yes, but has it recovered?

A perfect week, one that saw the market recover to an extent, came to an abrupt halt when Bitcoin dropped by $350 over the last 24-hours. Riding high on the charts, Bitcoin, trading at a price of $10,575, soon fell down to $10,204 in a matter of just 8 hours. In fact, the aforementioned fall was accompanied by other on-chain developments as well, with Glassnode indicating that miners have started to cash out their profits once again. Source: Twitter As illustrated in the attached chart, Bitcoin miners have been selling a huge volume of BTC over the past week, with…

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This one key Bitcoin metric holds the cards to the bull run

Bitcoin crossed $12,000 and slid under the range, yet again. Speculation with respect to an imminent bull run is almost unavoidable at the moment. With every key metric turning plush green every day, for more proponents, the next big rally for Bitcoin is seemingly around the corner. Bitcoin’s Short-Term Holder metric conveyed the same sentiment at press time. Source: Twitter According to the above glassnode chart, BTC’s Net Unrealized Profit/Loss (NUPL) has now held a positive position for a good part of the last four months. Glassnode Founder Rafael Schultze-Kraft stated that historically such a scenario has been identified with previous…

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