Insights Pulse Insights

Jun 14

The Crowd's Fear May Bring Some Mild Weekend Cheer 14-06-24, 18:29


๐Ÿ˜จ The crowd is showing fear after Bitcoin has fallen to $65K, its lowest market value since May 16th. Spikes in mentions of #selling or #takingprofit are common after a drop, and a temporary bounce and buy opportunity may form if we see continued FUD & panic from small traders.

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Signs of capitulation: Bitcoin miners sell at a high pace, reserves at 2-year lows 14-06-24, 11:28

The Bitcoin minersโ€™ reserves dropped aggressively to June 2022 levels when BTC was trading below $20,000.

Bitcoin supply held by miners. Source: Santiment / Vini Barbosa (@vinibarbosabr)

As of this writing, miners hold 1.8 million BTC, while Bitcoin trades at $66,800. This represents a relevant contrast from the 2.01 million BTC held a few weeks before Marchโ€™s all-time high of $73,000, evidencing a sell-off as the maiden cryptocurrency consolidates in a 4-month price range.


Bitcoin mining is a highly competitive and high-cost business activity directly reliant on the leading cryptocurrency price action. Miners can often see themselves operating underwater amid extended bearish or consolidation periods, forcing some to capitulate from mining.


In particular, data retrieved from MacroMicro indicates this is happening right now, with an average cost of $83,668 per mined Bitcoin.


Bitcoin Average Mining Costs. Source: MacroMicro

Read the full report on Finbold, covering other metrics and sources:

https://finbold.com/signs-of-capitulation-bitcoin-miners-sell-at-a-high-pace-reserves-at-2-year-lows/

Follow me on ๐• @vinibarbosabr

Crowd Mentions Related to 'Buying Bitcoin' Spiked BIG on This Latest Dip 14-06-24, 01:39


๐Ÿค‘ Bitcoin's second stop below $67K Thursday resulted in the 2nd largest spike in crowd $BTC buying interest in the past 2 months. FOMO and greed comes in two ways:

1) Price erupts and traders want to jump in with hopes of prices continue climbing (as we saw on May 20th)

2) Price drops, traders don't believe dip was warranted, and buy in hopes of a quick recovery (as we saw on June 13th)

Were you in either of these camps around these times? Are you taking profit in fear of prices going down further? Or perhaps, you're just sitting patiently with your bags?

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Jun 13

Bitcoin's Supply Moving Away From Exchanges is a Promising Sign of an Eventual ATH Break! 13-06-24, 01:13


๐Ÿ˜Ž Bitcoin's supply on exchanges has now dropped to its lowest level since December, 2021 (~942K coins). Meanwhile, Ethereum and Tether are moving back on. Historically, there is less drop-off risk for all of crypto while $BTC's available supply to be sold is limited.

Jun 12

Care to Be a Counter Trader to the Crowd's Top Trending Tokens? 12-06-24, 19:28


๐Ÿ—ฃ๏ธ Crypto's top trending coins. Remember - the opposite direction of the crowd's expectation is most likely:

๐Ÿช™ $BTC: Trump interest in increased Bitcoin mining
๐Ÿช™ $MIN: Concerns of transparency and credibility
๐Ÿช™ $XCN: Launch of core chain validator & use of Klay chain for gas

CPI Report Anticipation is Heating Up, Get Your Reactions Ready! 12-06-24, 00:05


๐Ÿง‘โ€๐Ÿ’ผ๐Ÿ‡บ๐Ÿ‡ธ The May 2024 Consumer Price Index (CPI) report is scheduled to be released tomorrow (June 12th) at 12:30pm UTC (11 hours from now). Current experts expect a 3.4% YoY or 0.3% MoM increase. Anything below would.

๐Ÿ‚ If lower, it's a signal that inflation is slowing, increasing the likelihood of crypto rising.

๐Ÿป If higher, it's a signal that inflation is still a concern, increasing the likelihood of crypto dropping.

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Jun 11

Bitcoin ETF Volume Rise... Are Markets About to Surprise? 11-06-24, 22:57


๐Ÿ“Š Bitcoin ETF volume has jumped to its highest level since May 15th, according to data from the top 7 largest ETF's. When these volume spikes occur, there is more of a chance of prices making a turnaround. This latest spike was likely a dip buy reaction. Do you expect a bounce?

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Jun 10

Keep an Eye on Bitcoin and Cardano as Crowd Puts Them in the Spotlight 10-06-24, 17:30


๐Ÿ—ฃ๏ธ The most rising coins in social interest to start the week are:

$BTC: Bulls and bears battling at $70K level, and Bitcoin's market cap ($1.377T) being compared to Apple's ($2.998T)

$ADA: Smart contract NFT's, comparison to Ethereum, growing Cardano network decentralization

VIDEO: Is Bitcoin's Dance Around $70K Being Impacted By AI and Meme Coins Like $TREMP and $MOTHER? 10-06-24, 05:42


๐Ÿ“บ We talk about the Bitcoin all-time high teases, AI token potentials, and meme coin FOMO for assets like $TREMP and $MOTHER. Tune in for our great chat with Thinking Crypto in our latest video!

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Jun 6