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🫡 «The theory of Bitcoin cycles is dead» Author: CEO CryptoQuant Here’s what he writes: My forecasts were based on this theory - to buy when whales accumulate, and to sell when retail (crowd) joins. This model doesn’t work anymore. In the last cycle, whales sold coins to retail investors. Now old whales are sold to new long-term large investors. Institutional acceptance turned out to be much larger than we thought. Trading seems pointless: there are more holders than traders. My mistake is to ignore this shift when I announced that the «bull cycle is over». I sincerely apologize if my forecast affected your investments. From now on, I will be more careful with forecasts and focus on data-based analytics.
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🖼📈 The total #NFT market cap hit a local high of ~$7B this week, up ~20% in 7 days.
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🤔 Stablecoins are most prominent in countries hit by war or high inflation. They're essential in places where economic freedom and stability are under threat. #stablecoin
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📊👀 Altcoins and #ETH now account for 83% of total futures trading volume, their highest share in 2.5 years.
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📉🤔 #ETH exchange reserves are close to the all-time low Typically, it is a positive sign for a coin. It suggests investors prefer holding Ethereum rather than selling it. Lower supply on exchanges may reduce selling pressure, potentially driving ETH prices higher.
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