What Bitcoin’s post-halving history tells us about BTC’s 2024 prices 2min Read Historical data suggests that Bitcoin might register a promising price increase during Q2.

Posted: April 22, 2024 By: Dipayan Mitra Edited By: Saman Waris What Bitcoin's post-halving history tells us about BTC's 2024 prices

Buying sentiment remained dominant in the market. Market indicators hinted at a few more slow-moving days. The Bitcoin [BTC] halving triggered a bull rally for altcoins, but BTC itself did not showcase much volatility. However, if historical data is to be believed, then things might turn bullish for BTC as well.

Therefore, AMBCrypto analyzed BTC’s state to understand what to expect from it after a few days of halving.

Bitcoin remains calm post-halving Just a few days after the much-awaited BTC halving, altcoins began bull rallies, allowing several cryptos to register double-digit growth. Meanwhile, BTC laid low, as it didn’t push its price up by a huge margin.

According to CoinMarketCap, BTC was up by 2% in the last 24 hours. At the time of writing, it was trading at $ 64,992.95 with a market capitalization of over $ 1.28 trillion.

But there was more to the story, as BTC in the past has displayed similar behavior. Rekt Capital, a popular crypto analyst, posted a tweet about past incidents.

As per the tweet, BTC’s price has always consolidated during the halving months back in 2020 and 2016. This indicated that investors might witness less volatility in April.

But the trend might change in May and June, as historically, BTC’s price has gained bullish momentum in the months that followed halvings. Therefore, the chances of BTC closing Q2 on a good note seemed high.

What lies ahead in the short term? If history repeats itself, things might turn volatile for BTC next month, but to see what investors should expect in the short term, AMBCrypto analyzed BTC’s metrics.

Our analysis of CryptoQuant’s data revealed that BTC’s exchange reserve was dropping. This meant that buying sentiment was dominant.

Bitcoin's exchange reserve was dropping Source: CryptoQuant

The king of crypto’s Binary CDD indicated that long-term holders’ movements in the last seven days were lower than average, suggesting that they have a motive to hold their coins.

Buying sentiment among US investors was also dominant, as evident from its green Coinbase Premium. This meant that investors were confident in BTC and expected its value to rise in the coming weeks.

Buying sentiment was dominant among US investors Source: CryptoQuant

To see which direction BTC might head during the upcoming week, AMBCrypto took a look at its daily chart. As per our analysis, BTC’s price might continue to move in a parallel channel between its ATH and $ 61k.

Read Bitcoin’s [BTC] Price Prediction 2024-25

Its Money Flow Index (MFI) went sideways under the neutral mark, further indicating a few more slow-moving days.

However, the MACD displayed the possibility of a bullish crossover, which, if it happens, might allow BTC to turn volatile.

Source: TradingView

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Next: Is the altcoin season upon us? Takeaways from the Bitcoin halving Share SHARETWEET

Read the Next Article Home > Altcoin > Is the altcoin season upon us? Takeaways from the Bitcoin halving ALTCOIN Is the altcoin season upon us? Takeaways from the Bitcoin halving 2min Read AMBCrypto's analysis of CryptoQuant data showed that the buying power was climbing higher since mid-October. Posted: April 22, 2024> Akashnath S Is the altcoin season upon us? Takeaways from the Bitcoin halving The altcoin market was performing well in the past five months, but the halving fears stalled it. The next such run could take a while to materialize, but will leave telltale signs. The altcoin market has lost a lot of value in the past month as fears swirled around a Bitcoin [BTC] halving.

Prominent crypto analyst Ali Martinez observed on X (formerly Twitter) that altcoin seasons start shortly after Bitcoin halving.

An alt season is when the market capitalization of altcoins multiplies. Given how capital rotation is believed to work in the crypto space, this usually does not last more than a few months.

Yet, it gives investors a great opportunity to capture profits.

Is another altcoin season looming? Altcoin Season Index Source: Ali_charts on X

The altcoin season index reached above 75 in early 2024. The halving event saw the index oscillate to the 25 value to reflect Bitcoin season- but in reality, altcoins lost a lot more value than Bitcoin in the past month.

This was a result of the fear of selling pressure behind Bitcoin. At press time, the index was at 39 and did not reflect an altcoin season upon us.

Tether Dominance Source: USDT.D on TradingView

Technical analysis of the Tether [USDT] dominance chart showed that its downtrend was nearing an end.

The USDTD trending downward is a good sign because it denotes investors assuming risk and exchanging stablecoin for crypto assets.

A USDT dominance’s upward trend would show the opposite.

Therefore, in an altseason, we want a strong downtrend. The Directional Movement Index on the 3-day chart showed that a downtrend was in play from late October to early April.

This was a sizeable amount of time and suggested that the market would need time to reset before the next downtrend. Additionally, the cyan boxes highlight the 2020 and 2024 BTC halvings.

If the 2020 similarities play out, we could see altcoins lose more value in the coming weeks.

Buying power in the market was rising Stablecoin Exchange Reserve Source: CryptoQuant

AMBCrypto’s analysis of CryptoQuant data showed that the buying power was climbing higher since mid-October. The exchange reserve of stablecoins is a reflection of the buying power in the crypto market.

Comparing it to the 2020-2021 run, the metric has not yet gone parabolic like it did in the previous cycle. The vast expansion of market capitalization in 2021 saw the exchange reserves climb dramatically.

Read Bitcoin’s [BTC] Price Prediction 2024-25

Therefore, another rapid rise in stablecoin reserves would be an indicator that another altcoin season is upon us.

Combining it with the Tether dominance chart and the altcoin season index could give investors an edge in the markets.

Previous: What Bitcoin’s post-halving history tells us about BTC’s 2024 prices Next: All about the state of Ethereum after Bitcoin’s halving Share SHARETWEET Read the Next Article Home > Ethereum > All about the state of Ethereum after Bitcoin’s halving ETHEREUM All about the state of Ethereum after Bitcoin's halving 2min Read The volume of Ethereum stakes see a decline while the outflows increase - Is this a positive sign? Posted: April 22, 2024> Adewale Olarinde Decoding Ethereum's decline in new stakes amidst market recovery Ethereum sees more outflow but fewer new stakes. ETH continued its recovery post-BTC halving. As the Bitcoin [BTC] halving approached, altcoins experienced a price decline. Analysis indicated that Ethereum was among the assets that witnessed substantial recovery following the halving.

However, the recovery of ETH staking remained elusive.

Ethereum daily staking drops AMBCrypto’s examination of Ethereum’s staking chart showed a significant downturn in the volume of new stakes over the past few days.

The chart indicated that at the beginning of the previous week, there was an uptick in the volume of staked ETH, peaking at over 115,000 by the 15th of April. However, this volume began to decline.

At the time of this writing, the volume of new stakes was 31,441, marking a decline of over 80,000.

New Ethereum stakes Source: Trebding

Though not the lowest daily figure recorded for ETH, if this decline persists, it could set a new record low. Additionally, the total ETH staked surpassed 43.9 million at press time.

Despite an overall increase, a detailed analysis of the chart suggests that the progression has been nearly stagnant, indicating a lack of significant influx in recent times.

Outflows dominate the Ethereum flow trend Except for the 20th of April, Ethereum has witnessed more outflows than inflows in recent days.

AMBCrypto’s analysis of the Netflow chart on Glassnode revealed that by the end of the date, ETH experienced an inflow of over 20,000, significantly lower than the volume of outflow.

On the 18th of April, ETH encountered an outflow exceeding 144,800, marking one of the largest outflows recently.

At the time of writing, over 14,000 outflows had been recorded, indicating a trend where more ETH is leaving exchanges.

Ethereum Netflow Source: Glassnode

Based on the trajectory of the staking chart, it’s evident that most of the withdrawn ETH is not being staked. This presented a positive indicator for the asset, suggesting that holders anticipated a price increase.

This sentiment was particularly strong given the recent Bitcoin halving, fostering beliefs that a rally may commence.

ETH remains in bear trend AMBCrypto’s look at Ethereum on the daily timeframe revealed a positive conclusion to the week. ETH experienced a more than 3% increase, reaching approximately $ 3,157 by week’s end.

Read Ethereum’s [ETH] Price Prediction 2024-25

It commenced the week near $ 3,158 but faced several days of declines after that. At the time of this writing, it was trading at around $ 3,177, with a rise of less than 1%.

Its Relative Strength Index (RSI) indicated that it dipped below the neutral line on the 11th of April. At the time of this writing, it remained below this line, though there was a noticeable improvement.

Ethereum price trend Source: TradingView

Previous: Is the altcoin season upon us? Takeaways from the Bitcoin halving Next: Terra says ‘yes’ to crucial proposals: How about LUNC? Share SHARE

@lens @lens @phaver What Bitcoin’s post-halving history tells us about BTC’s 2024 prices 2min Read Historical data suggests that Bitcoin might register a promising price increase during Q2.

Posted: April 22, 2024 By: Dipayan Mitra Edited By: Saman Waris What Bitcoin's post-halving history tells us about BTC's 2024 prices

Buying sentiment remained dominant in the market. Market indicators hinted at a few more slow-moving days. The Bitcoin [BTC] halving triggered a bull rally for altcoins, but BTC itself did not showcase much volatility. However, if historical data is to be believed, then things might turn bullish for BTC as well.

Therefore, AMBCrypto analyzed BTC’s state to understand what to expect from it after a few days of halving.

Bitcoin remains calm post-halving Just a few days after the much-awaited BTC halving, altcoins began bull rallies, allowing several cryptos to register double-digit growth. Meanwhile, BTC laid low, as it didn’t push its price up by a huge margin.

According to CoinMarketCap, BTC was up by 2% in the last 24 hours. At the time of writing, it was trading at $ 64,992.95 with a market capitalization of over $ 1.28 trillion.

But there was more to the story, as BTC in the past has displayed similar behavior. Rekt Capital, a popular crypto analyst, posted a tweet about past incidents.

As per the tweet, BTC’s price has always consolidated during the halving months back in 2020 and 2016. This indicated that investors might witness less volatility in April.

But the trend might change in May and June, as historically, BTC’s price has gained bullish momentum in the months that followed halvings. Therefore, the chances of BTC closing Q2 on a good note seemed high.

What lies ahead in the short term? If history repeats itself, things might turn volatile for BTC next month, but to see what investors should expect in the short term, AMBCrypto analyzed BTC’s metrics.

Our analysis of CryptoQuant’s data revealed that BTC’s exchange reserve was dropping. This meant that buying sentiment was dominant.

Bitcoin's exchange reserve was dropping Source: CryptoQuant

The king of crypto’s Binary CDD indicated that long-term holders’ movements in the last seven days were lower than average, suggesting that they have a motive to hold their coins.

Buying sentiment among US investors was also dominant, as evident from its green Coinbase Premium. This meant that investors were confident in BTC and expected its value to rise in the coming weeks.

Buying sentiment was dominant among US investors Source: CryptoQuant

To see which direction BTC might head during the upcoming week, AMBCrypto took a look at its daily chart. As per our analysis, BTC’s price might continue to move in a parallel channel between its ATH and $ 61k.

Read Bitcoin’s [BTC] Price Prediction 2024-25

Its Money Flow Index (MFI) went sideways under the neutral mark, further indicating a few more slow-moving days.

However, the MACD displayed the possibility of a bullish crossover, which, if it happens, might allow BTC to turn volatile.

Source: TradingView

Follow AMBCrypto on Google News

Next: Is the altcoin season upon us? Takeaways from the Bitcoin halving Share SHARETWEET

Read the Next Article Home > Altcoin > Is the altcoin season upon us? Takeaways from the Bitcoin halving ALTCOIN Is the altcoin season upon us? Takeaways from the Bitcoin halving 2min Read AMBCrypto's analysis of CryptoQuant data showed that the buying power was climbing higher since mid-October. Posted: April 22, 2024> Akashnath S Is the altcoin season upon us? Takeaways from the Bitcoin halving The altcoin market was performing well in the past five months, but the halving fears stalled it. The next such run could take a while to materialize, but will leave telltale signs. The altcoin market has lost a lot of value in the past month as fears swirled around a Bitcoin [BTC] halving.

Prominent crypto analyst Ali Martinez observed on X (formerly Twitter) that altcoin seasons start shortly after Bitcoin halving.

An alt season is when the market capitalization of altcoins multiplies. Given how capital rotation is believed to work in the crypto space, this usually does not last more than a few months.

Yet, it gives investors a great opportunity to capture profits.

Is another altcoin season looming? Altcoin Season Index Source: Ali_charts on X

The altcoin season index reached above 75 in early 2024. The halving event saw the index oscillate to the 25 value to reflect Bitcoin season- but in reality, altcoins lost a lot more value than Bitcoin in the past month.

This was a result of the fear of selling pressure behind Bitcoin. At press time, the index was at 39 and did not reflect an altcoin season upon us.

Tether Dominance Source: USDT.D on TradingView

Technical analysis of the Tether [USDT] dominance chart showed that its downtrend was nearing an end.

The USDTD trending downward is a good sign because it denotes investors assuming risk and exchanging stablecoin for crypto assets.

A USDT dominance’s upward trend would show the opposite.

Therefore, in an altseason, we want a strong downtrend. The Directional Movement Index on the 3-day chart showed that a downtrend was in play from late October to early April.

This was a sizeable amount of time and suggested that the market would need time to reset before the next downtrend. Additionally, the cyan boxes highlight the 2020 and 2024 BTC halvings.

If the 2020 similarities play out, we could see altcoins lose more value in the coming weeks.

Buying power in the market was rising Stablecoin Exchange Reserve Source: CryptoQuant

AMBCrypto’s analysis of CryptoQuant data showed that the buying power was climbing higher since mid-October. The exchange reserve of stablecoins is a reflection of the buying power in the crypto market.

Comparing it to the 2020-2021 run, the metric has not yet gone parabolic like it did in the previous cycle. The vast expansion of market capitalization in 2021 saw the exchange reserves climb dramatically.

Read Bitcoin’s [BTC] Price Prediction 2024-25

Therefore, another rapid rise in stablecoin reserves would be an indicator that another altcoin season is upon us.

Combining it with the Tether dominance chart and the altcoin season index could give investors an edge in the markets.

Previous: What Bitcoin’s post-halving history tells us about BTC’s 2024 prices Next: All about the state of Ethereum after Bitcoin’s halving Share SHARETWEET Read the Next Article Home > Ethereum > All about the state of Ethereum after Bitcoin’s halving ETHEREUM All about the state of Ethereum after Bitcoin's halving 2min Read The volume of Ethereum stakes see a decline while the outflows increase - Is this a positive sign? Posted: April 22, 2024> Adewale Olarinde Decoding Ethereum's decline in new stakes amidst market recovery Ethereum sees more outflow but fewer new stakes. ETH continued its recovery post-BTC halving. As the Bitcoin [BTC] halving approached, altcoins experienced a price decline. Analysis indicated that Ethereum was among the assets that witnessed substantial recovery following the halving.

However, the recovery of ETH staking remained elusive.

Ethereum daily staking drops AMBCrypto’s examination of Ethereum’s staking chart showed a significant downturn in the volume of new stakes over the past few days.

The chart indicated that at the beginning of the previous week, there was an uptick in the volume of staked ETH, peaking at over 115,000 by the 15th of April. However, this volume began to decline.

At the time of this writing, the volume of new stakes was 31,441, marking a decline of over 80,000.

New Ethereum stakes Source: Glassnode

Though not the lowest daily figure recorded for ETH, if this decline persists, it could set a new record low. Additionally, the total ETH staked surpassed 43.9 million at press time.

Despite an overall increase, a detailed analysis of the chart suggests that the progression has been nearly stagnant, indicating a lack of significant influx in recent times.

Outflows dominate the Ethereum flow trend Except for the 20th of April, Ethereum has witnessed more outflows than inflows in recent days.

AMBCrypto’s analysis of the Netflow chart on Glassnode revealed that by the end of the date, ETH experienced an inflow of over 20,000, significantly lower than the volume of outflow.

On the 18th of April, ETH encountered an outflow exceeding 144,800, marking one of the largest outflows recently.

At the time of writing, over 14,000 outflows had been recorded, indicating a trend where more ETH is leaving exchanges.

Ethereum Netflow Source: Glassnode

Based on the trajectory of the staking chart, it’s evident that most of the withdrawn ETH is not being staked. This presented a positive indicator for the asset, suggesting that holders anticipated a price increase.

This sentiment was particularly strong given the recent Bitcoin halving, fostering beliefs that a rally may commence.

ETH remains in bear trend AMBCrypto’s look at Ethereum on the daily timeframe revealed a positive conclusion to the week. ETH experienced a more than 3% increase, reaching approximately $ 3,157 by week’s end.

Read Ethereum’s [ETH] Price Prediction 2024-25

It commenced the week near $ 3,158 but faced several days of declines after that. At the time of this writing, it was trading at around $ 3,177, with a rise of less than 1%.

Its Relative Strength Index (RSI) indicated that it dipped below the neutral line on the 11th of April. At the time of this writing, it remained below this line, though there was a noticeable improvement.

Ethereum price trend Source: TradingView

Previous: Is the altcoin season upon us? Takeaways from the Bitcoin halving Next: Terra says ‘yes’ to crucial proposals: How about LUNC? Share SHARE