Technical analysis

The “total amount of coins transferred on chain,” metric is equivalent to 70% of the United States Gross Domestic Product.

A reflection on the first large correction of and outlook for the remainder of 2021.

The bitcoin mining industry undergoes various capitulations upon the halving of block rewards, affecting bitcoin’s price.

What’s been behind the recent dips in the price of bitcoin, and what might the future potentially hold?

Bitcoin’s strong uptrend resumes as, once again, the market has claimed new highs in the $5,900 zone.

Last Friday, we discussed a macro resistance level bitcoin would likely test. The level was tested three times prior and immediately rejected. Now, for the fourth time, we find ourselves situated above the level as we wait to see if our support holds.

Bitcoin remains in its tightly coiled range as the market continues its sideways trend for the third week in a row.

Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping. It’s currently clutching onto the $3,500 values but it doesn’t look like it can hold on much longer.

At the moment, we are seeing signs of distribution as large rounds of selling have remained present during key support tests.

Volume is highly consolidated and the market is ready for a large move — the question is, where will it move next?