“The fear is gone for now, and the market is optimistic,” Arcane Research wrote in a Tuesday newsletter. But not enough to keep bitcoin's price above $50K.
A new report from the blockchain-sleuthing firm says DeFi has been "powered by experienced cryptocurrency traders and investors."
Bitcoin slipped below $50K and will likely consolidate this week, analysts say.
Increased institutional on-chain activities have accompanied bitcoin's latest price rally.
Bulls returned to defend short-term support in bitcoin and ether.
Bitcoin is declining as regulatory concerns rise; ether is holding support.
The market is holding that price floor well as large investors return.
The network is now among the 20 or so supported by Bison Trails’ “Query & Transact” product.
The decline shows decreasing active user participation on the blockchain network, possibly a sign of weak demand.
The Paris-based institutional data firm plans to open an Asian office in either Hong Kong or Singapore later this year.
Evan Cheng, the director of research at Facebook’s Novi Financial, is also joining the project as an adviser.
Bitcoin's rich list has accumulated 80,000 BTC since the May 19 crash.
"This traditionally bullish signal should be interpreted with caution and in the context of other indicators," one analyst said.
Elon Musk's tweets spur the latest drop.
Fidelity Investments' latest product to help institutional clients with their crypto investments.