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XRP's Price Outlook, Social Buzz vs. Technicals
NewsRipple News

XRP’s Price Outlook, Social Buzz vs. Technicals

There have been significant movements in the value of Ripple's XRP token…

By Nayab Fatima
Bitcoin Surges to $71K Amid Increased Spot ETF Inflows
NewsBitcoin News

Bitcoin Surges to $71K Amid Increased Spot ETF Inflows

On Tuesday, Bitcoin's price rose to $71,000. This was due to a…

By Nayab Fatima
Ethereum ETF Approval Could Drive ETH Price to $5K
NewsEthereum News

Ethereum ETF Approval Could Drive ETH Price to $5K

The U.S. Securities and Exchange Commission (SEC) quickly approved Spot Ethereum ETFs.…

By Sana Bukhari
Bullish Hashrate Traders Anticipate Bitcoin Price Surge in Next Six Months
NewsBitcoin News

Bullish Hashrate Traders Anticipate Bitcoin Price Surge in Next Six Months

As shown by forward hashrate contracts, traders are optimistic about Bitcoin's price…

By Sana Bukhari
Ethereum Jumps 17% on Increased ETF Approval Odds
NewsEthereum News

Ethereum Jumps 17% on Increased ETF Approval Odds

Bitcoin (BTC), the second-largest cryptocurrency by market value, has gained 17% because…

By Sana Bukhari
Willy Woo, a cryptocurrency expert, recently wrote an article about how the end of profit-taking in the Bitcoin market seems to have been described as a "very healthy reset." Woo's latest article on X talks about the Bitcoin Spent Output Profit Ratio (SOPR), an important on-chain metric that shows whether Bitcoin holders are making funds or losing funds when they sell their coins. When the SOPR goes above 1, it means that buyers are selling their Bitcoin holdings for a profit on average. On the other hand, a negative SOPR means that most people in the market are selling at a loss. A SOPR of 1 means that gains and losses are equal, which means that investors will break even. Bitcoin SOPR Post-ATH Trends If you look at the graph, you can see that when Bitcoin hit a new all-time high (ATH), the SOPR went up a lot. This showed that investors were taking significant gains, similar to what happened at the start of the 2021 bull run. After hitting its highest point, the SOPR has been going through a cooling-off period while Bitcoin is in its consolidation phase after the all-time high. Woo shows this trend in the chart given, pointing out that the measure is getting closer to being neutral. This change could mean that investors are less eager to make funds, which would be favorable to the coin market. Notably, funds coming into Bitcoin have started to rise again, following the same trend seen during the post-spot exchange-traded funds (ETFs) approval crash earlier this year. This caused a rally that led to Bitcoin's current all-time high. Bitcoin Market Sees Neutral SOPR, Rising Inflows
NewsBitcoin News

Bitcoin Market Sees Neutral SOPR, Rising Inflows

Woo's latest article on X talks about the Bitcoin Spent Output Profit…

By Aima Raza
Bitcoin Nears $70,000 As Whales Hold Steady
NewsBitcoin News

Bitcoin Nears $70,000 As Whales Hold Steady

Bitcoin continues to move upwards. It recently went over $67,000 and is…

By Aima Raza
Chainlink Price Could Drop 60%, Warns CrediBULL Crypto
NewsCrypto

Chainlink Price Could Drop 60%, Warns CrediBULL Crypto

A crypto expert named CrediBULL Crypto said that Chainlink (LINK) could lose…

By Aima Raza
Solana (SOL) Breaks $160 Resistance, Signals Bullish Momentum
NewsAltcoin News

Solana (SOL) Breaks $160 Resistance, Signals Bullish Momentum

Solana (SOL), a blockchain platform known for dealing with deals quickly and…

By Rubab Fatima
Ethereum's Rise Amidst Turmoil, Whale's Strategic Moves
NewsEthereum News

Ethereum’s Rise Amidst Turmoil, Whale’s Strategic Moves

Ethereum (ETH) has become a sign of hope in the cryptocurrency market,…

By Rubab Fatima