Geothermal energy has long been the forgotten member of the clean energy family, overshadowed by relatively cheap solar and wind power, despite its proven potential. But that may soon change, for an unexpected reason. Geothermal technologies are on the verge of unlocking vast quantities of lithium from naturally-occurring hot brines beneath places like California’s Salton […]

Many creators are using the world of NFTs to make our real world a better place.

It was in the final semester when I was pursuing my Bachelor’s degree in psychology that I first heard the phrase, ‘User Experience Design’. Having no prior knowledge about the field, I applied for an Read more

The post Exploring Usability Principles of Efficiency and Self-evidency in Product Development appeared first on ixBlog.

Bitcoin trends higher in the last few days as it approaches the mid area around its current levels. The benchmark crypto has seen some relief in the past days but seems unlikely to fully reclaim its previous bullish momentum. Related Reading | Data: Bitcoin Long-Term Holder Supply Has Stagnated Since October High At the time of writing, Bitcoin trades at $42,500 with a 4% profit in the last day and a 12% profit over the last two weeks. As NewsBTC has been reporting, Bitcoin seems to be reacting to the U.S. Federal Reserve (FED) shift in monetary policy and the armed conflict between Russia and Ukraine. The financial institution announced a rate hike of 25 basic points (bps) for the coming months. This increment meets market expectations. No major announcement is expected from the FED in the short term. As for the armed conflict, attempts to reach a diplomatic solution have failed, with no clear winner on the battlefield. The parties seem to be at a stalemate. This tense calm has moved to the market and the uncertainty could lead Bitcoin into further consolidation between its current levels, and the high area around $30,000. In support of this thesis, Arcane Research records no major movements in Open Interest (OI) for the BTC-based derivatives sector. This metric has remained stable at around 360,000 BTC and 380,000 BTC since the start of 2022. As seen below, the OI for BTC futures has been moving sideways along the price of Bitcoin, as it registers a decrease in volatility. In other words, the BTC market could be experiencing a period of low activity which suggests no important trends in either direction. The Last Time Bitcoin Open Interest Hinted At Consolidation The 30-day volatility for Bitcoin OI futures, as Arcane Research reported, saw a 1% low in March, and has trended a bit higher in the last two weeks. The metric currently stands at 1.5%. The research firm claims current trading activity has been lower than during a similar period of consolidation in 2021. Arcane Research added: Overall, the BTC denominated open interest remains relatively lofty at 370,000 BTC. We’ve rarely seen open interest being maintained at such levels for such a long duration without any major squeeze setbacks such as those experienced during the spring and fall bull markets and bitcoin’s short squeeze in July. Additional data provided by Santiment indicates Bitcoin’s supply on exchanges has been trending down as the price of BTC consolidates. In June 2021, this metric saw a 6-month low as the market recovered from bearish price action. As BTC’s price moved further up, the supply followed, but the cryptocurrency managed to score a new all-time high near $70,000. Related Reading | Ethereum Classic Gains 60% In One Week, Why The Merge Could Push Its Price Higher The chart below could be hinting at a similar trend as supply on exchanges decreases, and the price consolidates.

On-chain data shows the Bitcoin NUPL metric currently has values that would suggest the bear market is yet to hit in full swing, if the coin is in one. Bitcoin NUPL Value Still Not As Low As Previous Bear Markets As pointed out by an analyst in a CryptoQuant post, the BTC NUPL metric suggests market hasn’t neared a bear market bottom yet. The “net unrealized profile/loss” (or NUPL in short) is an indicator that tells us about the ratio of profit and loss in the Bitcoin market. The metric’s value is calculated by taking the difference between the market cap and the realized cap, and dividing it by the market cap. When the NUPL has a value greater than zero, it means there are more coins in profit than ones in loss at the moment. On the other hand, negative values of the indicator imply that investors are, on average, in a state of loss right now. Related Reading | Bitcoin Bullish Signal: Exchange Reserve Loses Another 50k BTC Over Past Week Now, here is a chart that shows the trend in the Bitcoin NUPL over the history of the crypto: Looks like the value of the indicator is still above zero | Source: CryptoQuant As you can see in the above graph, the Bitcoin NUPL metric has often been able to predict top and bottom formations through its various colored zones. In the previous bear markets, the indicator’s value has usually fallen off below zero (blue) as a bottom approached. In the lead up to these bearish periods have been the yellow and green phases, but currently the NUPL still looks to be in the yellow zone. This may mean that if Bitcoin has already entered into a bear market, it has still some ways to go before total capitulation and bottom formation. Related Reading | What’s Bitcoin Role After End of Petrodollar System? Arthur Hayes Says However, it’s worth noting that there have been instances before where the indicator dropped into the yellow zone after a bull rally, but then jumped back up soon after as the bullish trend continued, indicating a mid-cycle bottom formation instead. The latest example of this was during the mini-bear period of May-July 2021, where the coin bottomed at around $28k and rallied on to a new ATH. BTC Price At the time of writing, Bitcoin’s price floats around $41.4k, up 6% in the past week. Over the last month, the crypto has gained 8% in value. The below chart shows the trend in the price of the coin over the past five days. The price of the crypto seems to have held above $40k over the past couple of days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Bitcoin futures and options markets are pricing in higher volatility in the near future. Meanwhile, on-chain activity remains firmly in bear market territory, but continues to recover meaningfully.

As bond risks grow and contagion appear more likely than ever, every investor needs to consider bitcoin as portfolio insurance.

While the second-largest crypto asset by market cap has gained more than 15% in value against the U.S. dollar during the last week, the number of ethereum stored on exchanges has dropped significantly during the last few weeks. In less than two years, more than 29% of the ether held on exchanges has left centralized…

The post ETH Continues to Leave Trading Platforms, Ethereum Balance on Exchanges Lowest in 3 Years appeared first on Bitcoin News Miner.

As another week comes to a close in this eventful macroeconomic climate, let’s take…

The post Could this on-chain metric catapult Ethereum’s price? appeared first on Coin Journal.

On-chain data shows the Bitcoin exchange reserve has lost another 50k BTC over the past week, a sign that could be bullish for the price of the crypto. Bitcoin Exchange Reserve Continues To Observe Further Decline In Recent Weeks As pointed out by an analyst in a CryptoQuant post, 50k BTC in net outflows has exited exchange wallets over the past week. The “all exchanges reserve” is an indicator that measures the total amount of Bitcoin stored in wallets of all centralized exchanges. When the value of this metric goes up, it means the supply on exchanges is rising as investors deposit a net amount of coins. Such a trend may be bearish for the price of the coin as holders usually transfer to exchanges for selling purposes. On the other hand, the reserve’s value decreasing implies that a net amount of Bitcoin is exiting exchange wallets at the moment. This kind of trend when sustained over a period can prove to be bullish for the coin’s price as it may be a sign that investors are accumulating. Related Reading | Current Stretch Of Bitcoin Fear Surpasses 2021 Selloff Now, here is a chart that shows the trend in the BTC exchange reserve over the past few months: Looks like the value of the indicator has sharply gone down recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange reserve has been going down over the last few months. In the past week alone, the metric has dropped 50k BTC in value. The last couple of days especially saw large downward spikes amounting to around 10k to 11k BTC. Related Reading | Mike Novogratz: Bitcoin Price To Range Between $30k-$50k Throughout The Year The exchange reserve has traditionally been considered the “selling supply” of the coin. As it has been shrinking for a while now, the effect on the price should be positive due to supply-demand dynamics. Some have referred to this decline as creating a “supply shock” in the market. However, recent data suggests that the reserve is no longer the main source of selling pressure, coins exiting from exchanges have instead just shifted into investment vehicles like ETFs. Nonetheless, the reserve declining does reduce part of the selling supply so the net effect of such a trend may still be bullish. BTC Price At the time of writing, Bitcoin’s price floats around $41k, up 5% in the past week. Over the last month, the crypto has lost 6% in value. The below chart shows the trend in the price of the coin over the past five days. The price of Bitcoin seems to have seen a surge over the last couple of days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Despite the four-month bearish price action, institutions continue to pile drive bitcoin, which might have scared away retail leverage traders. This is because institutions are focusing on longer-term horizons and see the potential for big profits in BTC’s growth over time. The recent large outflow of coins from the U.S.-based crypto exchange Coinbase is evident, according to blockchain analytics firm Glassnode. Related Reading | 82% Of Bitcoin Short-Term Holder Supply Now In Loss, Capitulation Ahead? The recent highly volatile markets have sent bitcoin prices tumbling, with a total of 31,130 bitcoin leaving Coinbase last week. This is the highest single-week outflow since 2017, data tracked by Glassnode. In a weekly newsletter published Monday, Glassnode said;  Large outflows like this one are actually part of a consistent trend in the Coinbase balance, which has been stair-stepping downwards over the last two years. As the largest exchange by BTC balance, and a preferred venue for U.S.-based institutions, this further supports the adoption of bitcoin as a macro asset by larger institutions. The crypto markets have experienced drought over the past week. The Nasdaq-listed exchange’s holding in bitcoin has dropped a four-year low of 649,500 BTC for just the second time since 2018. In addition, the amount of bitcoins held by all centralized exchanges has decreased to 2,519,403 BTC, the lowest number since November 2018. Withdrawal Bitcoins Moved To Inactive Wallets The Coinbase withdrawal may be driving up the price of Bitcoin. The declining exchange balance means fewer coins are available for liquidations on exchanges, which could lead to an increase in demand and push prices higher still – especially since those withdrawals have moved into largely inactive wallets. Additionally, Glassnode said; If we look at the Illiquid Supply Shock Ratio (ISSR), we can see a significant uptick this week. Suggesting that these withdrawn coins have been moved into a wallet with little-to-no history of spending. The ISSR is on an upwards trend, suggesting that these withdrawn coins transferred into a wallet with little-to-no history of spending. Related Reading | Bitcoin Detractor Peter Schiff Lays On What Will Trigger Bitcoin Recovery The current amount of supply held in Illiquid wallets is 3.2x larger than Liquid and Highly-Liquid combined. Meaning that many coins are still trapped there despite the recent bear market conditions. A similar metric to what we saw during the 2018 – 2020’s bear market. Major cryptocurrencies registered mostly small losses on Monday. As the European Parliament’s Committee on Economic and Monetary Affairs voted down a bill. That bill could have outlawed proof-of-work in EU territory. The markets were volatile yesterday as investors waited to hear what the Federal Reserve would do with today’s policy meeting. The NASDAQ100 fell 2%, while SPX500 Index dropped 0.75%. DJ30 closed flat following these declines in stock prices.  The crypto market experienced a mild correction, with Ethereum, BNB, Solana, and XRP losing 2%. Bitcoin also fell slightly 1.6% in value and trading under $40,000 at the time of writing. Featured image from Flickr, chart from Tradingview.com  

A popular crypto analyst is taking a macro look at Bitcoin (BTC) to get a clearer picture of where the leading crypto asset is heading after several months of volatility. In a new strategy session, Benjamin Cowen first tells his 719,000 YouTube subscribers that regardless of short-term price fluctuations, Bitcoin and the crypto space, in […]

The post Analyst Benjamin Cowen Says Bitcoin and Crypto Markets Primed To Rally Higher Despite Short-Term Volatility appeared first on The Daily Hodl.