Bitcoin breaks $24k – correlation seen with traditional assets trending downwards YTD
As Bitcoin breaks $24k, correlation to traditional assets revealed — Bitcoin and S&P 500 only 16% correlated year to date (YTD).
James Van Straten 1 min read Insights
Data-led research on the narratives, flows, and on-chain signals moving crypto markets.
CryptoSlate Insights has been discontinued. Visit News for the latest crypto news and market coverage.
James Van Straten 1 min read Latest insights
Bitcoin
Bitcoin drawdowns vs other assets – Amazon with the largest drawdown of 95%
Alongside Amazon's largest drawdown to date of 95%, Bitcoin price has not remained insulated from such volatile drawdowns.
Bitcoin
Bitcoin loses $24k – as 15k coins go back onto exchanges, profits get realized
Bitcoin fell below $24,000 on Feb. 17 as coins began returning to exchanges — short-term holders realized large amounts of profit.
Bitcoin
BTC mining stocks surge as Bitcoin breaks $25k
Iris Energy Limited leads the pack up 270% year to date
Bitcoin
Short-term holder cost basis has been below long-term holder cost basis for 146 days
During later stage bear markets, short-term holder cost basis is less than long-term holder cost basis
Bitcoin
Bitcoin flips multiple moving averages, faces key resistance levels at $25k
The 200-week moving average (200-WMA) has been a reliable support level in previous bear market cycles for Bitcoin.
Bitcoin
Over $210M of liquidations in the past 24 hours, takes Bitcoin above $24.5K
Amongst the $210 million in liquidations, $187M of that came from short liquidations in the past 24 hours.
Bitcoin
Bitcoin hash rate hits ATH after 34% YOY growth
Only 5 negative days in 2023 for Bitcoin hash rate
Stablecoins
USDT dominance breaks 52%, highest since May 2022
Significant outflows of BUSD has seen USDT increase market share
Stablecoins
Fifth biggest outflow of stablecoins on Ethereum in the past two years
Roughly $250 million worth of stablecoins have left exchanges in the past week on the Ethereum blockchain network.
Bitcoin
Over 100K Ordinals minted on Bitcoin
Taproot adoption and utilization spike to new all-time highs over a 7DMA as the number of Ordinals minted on BTC surpasses 100,000.
Bitcoin
Asia smart money flips bearish on Bitcoin for the first time since the FTX collapse
While, the EU and US continues to buy Bitcoin, Asia has switched to bearish on Bitcoin for the first time since the FTX collapse.
Bitcoin
Third biggest Bitcoin withdrawal year to date – $130M
Roughly $130 million in Bitcoin (BTC) was withdrew from exchanges yesterday — equating to 6000 BTC — just one day before CPI announcement.