Daily Archives: 31. Dezember 2022

Bitcoin Volatility Ahead? Open Interest & Leverage Ratio Reach Highs

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• On-chain metrics signal upcoming Bitcoin (BTC) volatility, with futures open interest and estimated leverage ratio reaching the highest levels for over a month.
• Data from Binance indicates that Binance will contribute to price swings, with a short liquidations cluster forming between prices of $16,650 and $16,940.
• Current BTC price is hovering around $16,547 at the time of writing.

Bitcoin (BTC) is showing signs of upcoming volatility, according to new data from Glassnode and Binance. Futures open interest and estimated leverage ratio have both reached the highest levels for over a month, and Binance has revealed a short liquidations cluster between prices of $16,650 and $16,940.

Futures open interest is a metric that reflects the USD value of the total amount of funds allocated in open futures contracts. The chart shows that it exceeded over 500,000 BTC on December 30th, marking its highest level for over a month. The futures estimated leverage ratio is a metric that represents the ratio between the open interest in futures contracts and the balance of the corresponding exchange. After hitting a low of 0.3 on December 5th, it quickly started to recover and nearly increased by around 10% in 20 days to see 0.34 on December 30th.

Binance also indicated that it will contribute to price swings in the near future. A short liquidations cluster has formed in Binance between the prices of $16,650 and $16,940. The current BTC price is hovering around $16,547 at the time of writing, only $100 away from entering the mentioned cluster.

All in all, these metrics suggest that Bitcoin volatility is on the horizon. The futures open interest and estimated leverage ratio are at their highest levels for over a month, and Binance has revealed a short liquidations cluster near the current BTC price. This could be a sign of an upcoming BTC price swing, and traders should be prepared for increased volatility over the coming days.

Bitcoin Volatility on the Rise: On-Chain Metrics and Binance Data Point to Price Swings

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• On-chain metrics such as futures open interest and estimated leverage ratio have reached their highest levels in over a month, signaling upcoming Bitcoin (BTC) volatility.
• Additionally, data from Binance indicates that a short liquidations cluster has formed between $16,650 and $16,940.
• These metrics and data point to potential Bitcoin volatility and price swings in the near future.

Bitcoin (BTC) appears to be on the cusp of some major volatility, as a variety of on-chain metrics and data from Binance indicate that the digital asset is about to experience some significant price swings.

Analyzing data from Glassnode, it appears that the BTC futures open interest and futures estimated leverage ratio have reached their highest levels in over a month. The futures open interest metric reflects the USD value of the total amount of funds allocated in open futures contracts, and the futures estimated leverage ratio represents the ratio between the open interest in futures contracts and the balance of the corresponding exchange. The open interest has risen to over 500,000 BTC, and the estimated leverage ratio has increased by around 10% in the past 20 days, reaching 0.34.

In addition to these on-chain metrics, data from Binance indicates that a short liquidations cluster has formed between the prices of $16,650 and $16,940. The current BTC price is currently hovering around $16,547, only $100 away from entering this liquidations cluster.

Overall, the combination of on-chain metrics and data from Binance point to potential Bitcoin volatility and price swings in the near future. Investors should be sure to monitor these metrics and data points in order to stay ahead of the game and manage their portfolios accordingly.

Sam Bankman-Fried Moves $684,000 ETH, Violating US Bail Terms

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• On-chain data suggests that the fallen founder of FTX Sam Bankman-Fried (SBF) moved Ethereum (ETH) worth $684,000 to RenBridge and Seychelles-based exchanges over the past 2 days.
• In a Twitter thread, on-chain sleuth BowTiedlguana claimed that SBF transferred $684,000 worth of Ethereum (ETH) to a Seychelles-based exchange and RenBridge.
• On Dec. 28, SBF allegedly emptied his public wallet by sending 0.6659 ETH, worth around $806.51 at the time, to a newly created address, as per Etherscan data.

The downfall of Sam Bankman-Fried, former founder of the popular cryptocurrency exchange FTX, has continued with news that he has allegedly moved $684,000 worth of Ethereum (ETH) to RenBridge and Seychelles-based exchanges over the past two days. This news was made public through a Twitter thread from BowTiedlguana, an on-chain sleuth.

The alleged movement of funds is reportedly in violation of Bankman-Fried’s $250 million bail terms, which restrict the former crypto mogul from conducting transactions above $1,000 without court approval. On Dec. 28, Bankman-Fried allegedly emptied his public wallet by sending 0.6659 ETH, worth around $806.51 at the time, to a newly created address, as per Etherscan data.

The newly created address then received around 185.1928 ETH from wallets tagged as Alameda Research within a few hours, on-chain data shows. Alameda Research was a now-defunct hedge fund owned by Bankman-Fried that filed for bankruptcy along with FTX on Nov. 11. Additionally, the new wallet received 384.95 ETH, worth around $458,348, from various wallets.

From the new wallet 519.95 ETH was transferred to an address that also received funds from Alameda Research wallets, as per on-chain data from Etherscan. This third wallet then transferred the funds to RenBridge, a Seychelles-based exchange. It is believed that Bankman-Fried is trying to move his funds out of the jurisdiction of US authorities, as the exchange is not subject to US regulations.

The news has caused uproar in the crypto space, with many questioning Bankman-Fried’s motives and calling out his disregard for the court’s bail terms. The US authorities are yet to take any action against Bankman-Fried, but the situation is being closely monitored by the crypto community.

Bitcoin Wallets Holding 0.1 to 10 BTC Surpass 3 Million: Data

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• The total supply of wallets holding between 0.1 Bitcoin (BTC) and 1 Bitcoin has surpassed 1 million coins, while the collective supply of wallets that hold between 1 BTC and 10 BTC topped 2 million.
• The total BTC supply of wallets that hold between 0.1 BTC and 1 BTC started to record a stable increase in late 2013, with short exponential growth periods in 2016 and 2018.
• The total BTC supply of wallets that hold between 1 BTC and 10 BTC also broke its own all-time high by surpassing 2 million at the end of November.

The use of Bitcoin, the world’s leading cryptocurrency, has skyrocketed in the past few years. As the technology has advanced and its applications have become more widespread, it has become increasingly popular among investors and enthusiasts alike. According to data from Blockchain.com, the total supply of wallets holding between 0.1 Bitcoin (BTC) and 1 Bitcoin has surpassed 1 million coins, while the collective supply of wallets that hold between 1 BTC and 10 BTC topped 2 million.

The total BTC supply of wallets that hold between 0.1 BTC and 1 BTC started to record a stable increase in late 2013, with short exponential growth periods in 2016 and 2018. This increase in the total BTC supply held by these wallets is indicative of the growing interest in cryptocurrency investments. As of Dec. 29, the total supply sits at 1.01 million BTC.

The total BTC supply of wallets that hold between 1 BTC and 10 BTC also broke its own all-time high by surpassing 2 million at the end of November. This meteoric rise in the total BTC supply held by these wallets is likely a result of larger investors buying into the technology. As of Dec. 30, the total supply held by these wallets is 2.06 BTC.

The data collected by Blockchain.com shows that the popularity of Bitcoin is continuing to grow, with more and more investors investing larger sums of money into the technology. This growth is likely to continue in the near future, as the industry continues to develop and evolve. As the technology matures, it is likely that more investors will join the market, pushing the total BTC supply held by wallets even higher.