• Latest
  • Trending
  • All
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

March 13, 2023
First national OSCE training courses in Moldova on cryptocurrency risks, investigations and supervision conclude

First national OSCE training courses in Moldova on cryptocurrency risks, investigations and supervision conclude

March 24, 2023
How To Buy Dogecoin on eToro: 5 Easy Steps

How To Buy Dogecoin on eToro: 5 Easy Steps

March 24, 2023
Grantee Roundup – Q1 2023

Grantee Roundup – Q1 2023

March 24, 2023
The Current Global Litecoin Hashrate is 721TH/s at Block Height 2,439,216 with a … – Latest Tweet by Litecoin

The Litecoin Network Processed Its 148 Millionth Transaction Last Night, Amassing over 8 … – Latest Tweet by Litecoin

March 24, 2023
Crypto Market Sees Boost as Banking Networks Falter – Blockchain News, Opinion, TV and Jobs

Crypto Market Sees Boost as Banking Networks Falter – Blockchain News, Opinion, TV and Jobs

March 24, 2023
56,006,787,000,000 Shiba Inu (SHIB) Worth Over $600,000,000 Now Held by Top Ethereum Addresses: WhaleStats

56,006,787,000,000 Shiba Inu (SHIB) Worth Over $600,000,000 Now Held by Top Ethereum Addresses: WhaleStats

March 24, 2023
Bitcoin, Other Crypto See $360 Million Sold Off In Single Day

Bitcoin, Other Crypto See $360 Million Sold Off In Single Day

March 24, 2023
LVMH CIO Insists Luxury Products Need Blockchain Technology

LVMH CIO Insists Luxury Products Need Blockchain Technology

March 24, 2023
Hacked vanity addresses used to siphon $500K

Hacked vanity addresses used to siphon $500K

March 24, 2023
Litecoin (LTC) and Dogecoin (DOGE) Drowning in Controversy While TMS Network (TMSN) Steals the Show

Litecoin (LTC) and Dogecoin (DOGE) Drowning in Controversy While TMS Network (TMSN) Steals the Show

March 24, 2023
Ethereum [ETH] becomes traders’ current favorite because of this reason

Ethereum [ETH] becomes traders’ current favorite because of this reason

March 24, 2023
Bitcoin Reclaims $28K After Enhanced Volatility, Litecoin Up 15% Weekly (Market Watch)

Bitcoin Reclaims $28K After Enhanced Volatility, Litecoin Up 15% Weekly (Market Watch)

March 24, 2023
Friday, March 24, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Bitcoin

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

by Cuevas Antonio
March 13, 2023
in Bitcoin
0
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


  • BTC has logged negative funding rates for the first time this year.
  • On-chain data shows increased selling as many exit trading positions.

As the cryptocurrency market grapples with the uncertainty that lies ahead as banks resume operations on Monday, Bitcoin’s [BTC] funding rates turned negative for the first time since the year began, data from CryptoQuant revealed.

The BTC market has been hit by negative sentiments since the Silicon Valley Bank saga began, according to CryptoQuant’s Jay Bot. As a result, funding rates turned negative for the first time this year and have reached levels similar to those seen when FTX collapsed in November 2022.


Read Bitcoin [BTC] Price Prediction 2023-24


Funding rates are the fees traders pay to hold positions in futures markets. When the funding rate turns negative, traders are paying more to hold long positions than short positions.

Jay Bot, however, opined:

“If bad news disappears and Bitcoin prices rebound, a short squeeze may occur as the overheated short positions are liquidated.”

Source: CryptoQuant

BTC bears take control as market sentiment turns sour

An on-chain assessment of BTC’s performance so far this weekend confirmed the exit of trading positions by investors. 

Data from Santiment revealed a spike in BTC’s Age Consumed metric in the early trading hours of 11 March. Investors’ confidence declined as the trading day progressed, causing the price of BTC to drop. 


Is your portfolio green? Check out the Bitcoin Profit Calculator


A spike in an asset’s Age Consumed metric indicates that many previously idle tokens are now being transferred between addresses. This suggests that there has been a sudden and strong change in the behavior of long-term holders, who are typically known for making careful decisions.

HODLers and experienced traders are known for being deliberate in their actions, which is why the increased activity of dormant coins often coincides with major shifts in market conditions. 

Moreso, a spike in Age Consumed followed by a price drawdown, as is the case here, marks the formation of a local top, which often marks the beginning of a period of price decline.

Source: Santiment

Furthermore, as BTC’s price dropped on 11 March, its Exchange Inflow rallied, per data from Santiment. 

Generally, an increase in the number of coins moving to known exchange wallets just before a local top can indicate a widespread sell-off.

Sometimes, this sell-off may be too sudden and significant for the bulls to manage. However, this has been nothing out of the ordinary in BTC’s case.

Source: Santiment



Source link

Tags: BankBitcoininvestorsmarketpanicsidewaysSiliconValley
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 19, 2023
ChatGPT is Being Used to Make ‘Quality Scams’

ChatGPT is Being Used to Make ‘Quality Scams’

March 20, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
First national OSCE training courses in Moldova on cryptocurrency risks, investigations and supervision conclude

First national OSCE training courses in Moldova on cryptocurrency risks, investigations and supervision conclude

March 24, 2023
How To Buy Dogecoin on eToro: 5 Easy Steps

How To Buy Dogecoin on eToro: 5 Easy Steps

March 24, 2023
Grantee Roundup – Q1 2023

Grantee Roundup – Q1 2023

March 24, 2023

Recent News

First national OSCE training courses in Moldova on cryptocurrency risks, investigations and supervision conclude

First national OSCE training courses in Moldova on cryptocurrency risks, investigations and supervision conclude

March 24, 2023
How To Buy Dogecoin on eToro: 5 Easy Steps

How To Buy Dogecoin on eToro: 5 Easy Steps

March 24, 2023

Categories

  • Altcoin
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Education
  • Ethereum
  • Featured
  • Litecoin
  • Market
  • News
  • Uncategorized

Follow Us

Recommended

  • First national OSCE training courses in Moldova on cryptocurrency risks, investigations and supervision conclude
  • How To Buy Dogecoin on eToro: 5 Easy Steps
  • Grantee Roundup – Q1 2023
  • The Litecoin Network Processed Its 148 Millionth Transaction Last Night, Amassing over 8 … – Latest Tweet by Litecoin

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved