After days of steep downward movement, the price of Bitcoin appears to have 
found a somewhat reliable anchor around the $60,000 region. However, recent 
on-chain data suggests that the premier cryptocurrency might not be down for 
long, with a bullish reversal seemingly on the cards. Is BTC Price Bottom 
Already Forming? In a June 7th post on the X platform, crypto analyst Ali 
Martinez revealed that the price of Bitcoin might have just reached a major 
bottom in this cycle. This evaluation is based on changes in the Bitcoin 
Supply In Loss metric, which measures the amount of BTC in circulation that 
was last moved at a price above the current market value. Related Reading: 
Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline This on-chain 
metric provides insight into how much pressure investors are under (or how 
deeply underwater they are) as they hold their Bitcoin at an unrealized loss. 
Hence, the Supply In Loss indicator, near unprecedented levels, is a signal of 
systemic fear and an impending shift in Bitcoin market dynamics. Martinez 
noted that the flagship cryptocurrency formed major cycle bottoms in the past 
when more than 10 million BTC were held at a loss. According to Glassnode data 
highlighted by the analyst, Bitcoin has breached this threshold, with 10.46 
million coins (more than half of the circulating supply) underwater. As 
observed in the chart above, the Bitcoin price saw a bullish reversal in late 
2018, as the supply in loss crossed this 10 million threshold. A similar 
pattern could be seen for BTC&#8217;s price when its Supply In Loss climbed to this 
mark around 2022. Martinez explained: I believe this is an important signal 
because selling pressure often begins to fade as fewer investors are willing 
to realize losses, increasing the probability of a market bottom forming. 
Based strictly on historical context and patterns, there is a high likelihood 
that a price bottom is forming for BTC at current levels. However, an 
important factor to discount is that the Bitcoin circulating supply was 
markedly lower in both periods (around 17.4 million and 19.2 million towards 
the end of 2018 and 2022, respectively). Lower circulating supply could mean 
the Supply In Loss might edge slightly higher this time, suggesting the BTC 
price could see further downside. This was evident in 2015 (when the 
circulating supply was much lower), when the Supply In Loss didn&#8217;t reach the 
10 million threshold before a bullish reversal. Bitcoin Price At A Glance As 
of this writing, the price of BTC stands at around $62,746, reflecting a 2.5% 
jump in the past 24 hours. Related Reading: Ethereum Breakdown Warning: This 
Key Level Could Trigger More Downtrend Featured image from iStock, chart from 
TradingView

After days of steep downward movement, the price of Bitcoin appears to have found a somewhat reliable anchor around the $60,000 region. However, recent on-chain data suggests that the premier cryptocurrency might not be down for long, with a bullish reversal seemingly on the cards. Is BTC Price Bottom Already Forming? In a June 7th &#8230;

Bitcoin Supply In Loss Crosses Critical Threshold — Bullish Reversal Next?

HTX&#8217;s actions highlight the risks of centralized control in crypto, prompting 
investors to reassess the stability and governance of their assets.
The post HTX suspends WLFI and USD1 trading, converts user USD1 holdings to 
USDT at 1:1 ratio appeared first on Crypto Briefing.

HTX&#8217;s actions highlight the risks of centralized control in crypto, prompting investors to reassess the stability and governance of their assets. The post HTX suspends WLFI and USD1 trading, converts user USD1 holdings to USDT at 1:1 ratio appeared first on Crypto Briefing.

HTX suspends WLFI and USD1 trading, converts user USD1 holdings to USDT at 1:1 ratio

The rapid inflows into Hyperliquid ETFs highlight a shift in investor interest 
towards alternative blockchain assets, potentially reshaping market dynamics.
The post Hyperliquid ETFs pull in $160M in weeks as Bitcoin and Ether funds 
bleed capital appeared first on Crypto Briefing.

The rapid inflows into Hyperliquid ETFs highlight a shift in investor interest towards alternative blockchain assets, potentially reshaping market dynamics. The post Hyperliquid ETFs pull in $160M in weeks as Bitcoin and Ether funds bleed capital appeared first on Crypto Briefing.

Hyperliquid ETFs pull in $160M in weeks as Bitcoin and Ether funds bleed capital

After a judge halted a default judgment Friday in the New York Supreme Court 
case Noah Doe v. John Does 1-39,069, several onchain wallets linked to the 
litigation have sprung into motion. On Sunday, Galaxy Research identified a 
wallet dormant since 2019 that transferred 1,878.5711 BTC, valued at $114.16 
million, marking its first activity in […]

After a judge halted a default judgment Friday in the New York Supreme Court case Noah Doe v. John Does 1-39,069, several onchain wallets linked to the litigation have sprung into motion. On Sunday, Galaxy Research identified a wallet dormant since 2019 that transferred 1,878.5711 BTC, valued at $114.16 million, marking its first activity in &#8230;

1,878 BTC Moves Onchain as Noah Doe’s Declaratory Judgment Bid Unravels

Ethereum price started a recovery wave above the $1,600 zone. ETH is now 
consolidating and might rally if there is a clear move above the $1,750 
resistance. Ethereum started a recovery wave above the $1,600 zone. The price 
is trading above $1,620 and the 100-hourly Simple Moving Average. There was a 
break above a key bearish trend line with resistance at $1,600 on the hourly 
chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline 
if it stays below the $1,750 zone. Ethereum Price Aims for Upside Break 
Ethereum price remained bid above the $1,500 support zone, like Bitcoin. ETH 
price formed a base and started a recovery wave above the $1,600 resistance. 
There was a break above a key bearish trend line with resistance at $1,600 on 
the hourly chart of ETH/USD. The price surpassed the 23.6% Fib retracement 
level of the downward move from the $2,005 swing high to the $1,505 swing low. 
Ethereum price is now trading above $1,620 and the 100-hourly Simple Moving 
Average. If the bulls remain in action above $1,600, the price could attempt 
another increase. Immediate resistance is seen near the $1,700 level. The 
first key resistance is near the $1,750 level or the 50% Fib retracement level 
of the downward move from the $2,005 swing high to the $1,505 swing low. The 
next major resistance is near the $1,800 level. A clear move above the $1,800 
resistance might send the price toward the $1,885 resistance. An upside break 
above the $1,885 region might call for more gains in the coming days. In the 
stated case, Ether could rise toward the $1,920 resistance zone or even $2,000 
in the near term. Another Drop In ETH? If Ethereum fails to clear the $1,750 
resistance, it could start a fresh decline. Initial support on the downside is 
near the $1,650 level. The first major support sits near the $1,620 zone. A 
clear move below the $1,620 support might push the price toward the $1,600 
support. Any more losses might send the price toward the $1,550 region. The 
main support could be $1,500. Technical Indicators Hourly MACD – The MACD for 
ETH/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for 
ETH/USD is now above the 50 zone. Major Support Level – $1,620 Major 
Resistance Level – $1,750

Ethereum price started a recovery wave above the $1,600 zone. ETH is now consolidating and might rally if there is a clear move above the $1,750 resistance. Ethereum started a recovery wave above the $1,600 zone. The price is trading above $1,620 and the 100-hourly Simple Moving Average. There was a break above a key &#8230;

Ethereum Price Mounts An Impressive Recovery As Market Mood Shifts

The US-Iran tensions risk destabilizing global energy markets and increasing 
compliance challenges in the cryptocurrency sector.
The post Iran condemns US strikes on radar facilities as ceasefire violation, 
warns of self-defense response appeared first on Crypto Briefing.

The US-Iran tensions risk destabilizing global energy markets and increasing compliance challenges in the cryptocurrency sector. The post Iran condemns US strikes on radar facilities as ceasefire violation, warns of self-defense response appeared first on Crypto Briefing.

Bitcoin Supply In Loss Crosses Critical Threshold — Bullish Reversal Next?

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