Aster price is tightening into a Bollinger squeeze after the team executed an 
$80 million token burn and pushed its Stage 4 buyback live. Aster was trading 
at $1.03 at press time, down 2.7% in the last 24 hours. The…

Aster price compresses into a Bollinger squeeze as team completes $80M token burn

An aide to the Russian President has stated that cryptocurrency mining is a 
major factor causing inaccurate ruble exchange rate forecasts, calling it a 
“new, undervalued export item.” Undervalued Export and Hidden Currency Flows 
Maxim Oreshkin, Deputy Chief of Staff of the Presidential Executive Office and 
a key economic aide to Russian President Vladimir Putin, […]

Kremlin Aide: Crypto Mining is a ‘Hidden Export’ Skewing Ruble Forecasts

FINRA found the number of people invested in crypto was steady from 2021 to 
2024, but fewer were considering either buying more or investing for the first 
time.

US investors consider crypto less as risk-taking drops: FINRA study

On-chain analytics firm Glassnode has pointed out how the current Bitcoin 
market is reminiscent to the structure from the first quarter of 2022. Bitcoin 
Dynamics Are Currently Looking Similar To Early 2022 Bear Market In its latest 
weekly report, Glassnode has discussed about how the broader Bitcoin market 
structure is starting to resemble Q1 2022. First, the analytics firm has 
shared the data of its Supply Quantiles Cost Basis Model, highlighting price 
levels that correspond to a certain degree of investor profitability. In the 
chart, three supply quantiles are listed: 0.75, 0.85, and 0.95. If Bitcoin 
trades at the first of these levels, 75% of the supply will be in profit. 
Similarly, the latter two correspond to 85% and 95% profitability, 
respectively. Related Reading: Ethereum Back At $3,200 As Sharks Show Strong 
Accumulation It&#8217;s visible in the graph that Bitcoin has recently fallen below 
all three of these levels, indicating more than 25% of the cryptocurrency&#8217;s 
supply is now underwater. &#8220;This creates a fragile balance between the risk of 
top-buyer capitulation and the potential for seller exhaustion to form a 
bottom,&#8221; explained Glassnode. BTC similarly broke below the 0.75 quantile back 
during the sideways market of early 2022. Another indicator that reinforces 
the resemblance is the Total Supply in Loss, which measures, as its name 
suggests, the amount of the Bitcoin circulating supply that&#8217;s being held at 
some net unrealized loss. Below is a chart showing the 7-day moving average 
(MA) trend in the metric. As displayed in the graph, the 7-day MA Bitcoin 
Total Supply in Loss hit a high of 7.1 million BTC last week, which is the 
highest that it has been since September 2023, more than two years ago. The 
analytics firm noted: The current scale of supply in loss, ranging between 
5M–7M BTC, is strikingly similar to the early-2022 sideways market, further 
reinforcing the resemblance noted above. Finally, the Bitcoin long-term holder 
Spent Output Profit Ratio (SOPR) also implies that the current market 
structure is mirroring Q1 2022. This metric tells us, in short, whether the 
Bitcoin investors holding since more than 155 days ago are selling their coins 
at a profit or loss. The Bitcoin long-term holder SOPR has witnessed a sharp 
decline recently, but its value is still above 1, indicating the long-term 
holders are selling at some net profit. With its current value of 1.43, 
however, there has been a notable shrinkage in the profit margins of the 
cohort. Related Reading: Next Key XRP Level Could Be $1.2 If Current Support 
Fails, Says Analyst It now remains to be seen whether the trends in these 
indicators mean that the cryptocurrency is on the cusp of a bear market 
transition like in early 2022, or if a rebound will come before long. BTC 
Price Bitcoin has seen a slight pullback during the past day as its price has 
dropped to $91,800. Featured image from Dall-E, Glassnode.com, chart from 
TradingView.com

Bitcoin Market Structure Echoes 2022 Bear Start, Glassnode Warns

Bitcoin’s downturn has barely anything to do with “anything crypto specific,” 
but it’s unlikely to surge early next year, says 21Shares co-founder Ophelia 
Snyder.

Cryptocurrency price in ILS