Bitcoin News Thebittimes.Com

Bitcoin (BTC) faces mixed sentiments amid the consolidation below $28,000. Glassnode shared intriguing insights into bitcoin’s on -chain activity, shedding light on two key metric s offering valuable market sentiment and price movement indicators. In a tweet earlier today, Glassnode called attention to the BTC number of addresses in the Loss indicator. The platform noted that the indicator has surged to a four-month high of 17,168,229. This metric is derived by calculating the average number of bitcoin addresses that currently hold a loss over seven days.  #Bitcoin $BTC Number of Addresses in Loss (7d MA) just reached a 4-month high of 17,168,229.613 Previous 4-month high of 17,161,501.905 was observed on 12 June 2023 View metric :https://t.co/s2ciFMlDcX pic.twitter.com/dq2rRlPaKC — glassnode alerts (@glassnodealerts) June 14, 2023 It indicates the number of addresses that bought BTC at a higher price than its current value. The rising trend suggests that many BTC ...

BTC’s $1,420 decline in the span of 1-hour negatively impacted demand for stablecoins in Asia and it shifted futures traders into a more defensive attitude. Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank's 57.7% stock crash which was due to significant losses and "suboptimal capitalization." The U.S. fintech-friendly bank was a key financial infrastructure provider for exchanges, institutional investors and mining companies and some investors are worried that its potential demise could have wide-ranging negative impacts on the crypto sector. The crypto-friendly bank discontinued its digital asset payment railway — Silvergate Exchange Network (SEN) — citing excessive risks. Silvergate also reportedly borrowed $3.6 billion from the U.S. Federal Home Loan Banks System, a consortium of regional banks and lenders, to mitigate the effects of a surge in withdrawals. Among the impacted exchanges was Dubai-based Bybit, which announced the suspen...