Finflows

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Stablecoin issuer Tether has announced that its United Arab Emirates dirham-pegged stablecoin will be launched on The Open Network (TON) blockchain. 
At the TON Gateway event held in Dubai, Alessandro Giori, Tether’s senior strategic partnership manager, announced that its dirham stablecoins, announced earlier this year, will be launched on the TON blockchain. 

On Aug. 21, Tether announced that it is working with the UAE’s Phoenix Group and Green Acorn Investments to launch a dirham-backed stablecoin. The collaboration aims to establish a digital representation of UAE dirhams, fully backed by liquid UAE-based reserves. 
In a press release, Tether said that it would ensure that every dirham-pegged token is “tied to the value of the AED” and will provide stability and confidence to its value. 
USDT’s growth on TON
On April 19, at the Token2049 event in Dubai, Tether CEO Paolo Ardoino, Telegram founder Pavel Durov and The Open Platform CEO Andrew Rogozov announced that USDt USDTUSD would go live on the TON blockchain. 
Since its launch on the blockchain, Giori said at the TON Gateway event that TON is the fastest blockchain to ever reach 1 billion USDT. The executive told the audience that USDT on the TON blockchain reached the milestone within six months of its launch. 

Giori said there are 160,000 USDT transactions on TON per day and 7.6 million wallets using USDT on the TON blockchain. He added that there are more than 100 crypto platforms that have integrated USDT based on the TON blockchain. 
Giori also announced that USDT on TON will also be available on the digital asset platform Fireblocks. “This means that all the companies that are using Fireblocks are now entering the ecosystem, and more and more people are using USDT on TON,” Giori added. 
UAE approves licensing system for stablecoins
The new development follows the UAE’s decision to approve a licensing framework for stablecoins. On June 3, the UAE’s leaders approved issuing regulations for overseeing and licensing stablecoins. The new regulations would give regulatory clarity on the issuance, licensing and supervision of dirham-backed payment tokens. 
On Oct. 18, a UAE-based stablecoin issuer called AED Stablecoin managed to get an in-principle approval from the UAE’s central bank. If the company gets full approval, it can deliver a regulated dirham-pegged stablecoin in the UAE. 

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$SHIB (Dont forget to follow for more live trades and news)
KEY POINTS:
Shiba Inu showed strong performance in line with the crypto market’s bullish trend.
Increased SHIB burns and Shibarium transactions signal ecosystem growth, though RSI above 70 suggests a possible short-term pullback.
SHIB Heads North
The second-largest meme coin in terms of market cap experienced a substantial resurgence in the past 24 hours, with its price tapping a one-month high of $0.00001957. In the following hours, it erased some of the gains, dropping to the current $0.0000189 (per CoinGecko’s data). However, it remains well in the green on a daily and weekly scale.
Its impressive performance coincides with the reigning bullish environment in the cryptocurrency sector. Several hours ago, bitcoin’s (BTC) priceexplodedto $73,600 (just $150 away from hitting a new all-time high). As of the moment, it trades at around $72,400, representing an 8% weekly increase.
Shiba Inu’s burning mechanism is worth mentioning, too. Over the past 24 hours, the burn rate skyrocketed by 450%, resulting in approximately 52 million tokens sent to a null address. The program’s ultimate goal is to decrease the circulating supply of SHIB, potentially driving its valuation up (assuming demand stays the same or rises).
Last but not least, we will touch upon Shiba Inu’s layer-2 scaling solution – Shibarium. Daily transactions on the network have soared by 13,500% in the span of 24 hours, suggesting increased user engagement.
Shibarium officially saw the light of day last August, aimed at fostering the development of the meme coin’s ecosystem. Those willing to check some of the latest upgrades involving the protocol can read our article here. For more updates on the ecosystem, check out our Shibarium news page.Something for the Bears
Despite the overall bullish conditions mentioned above, one metric indicates a potential retreat for SHIB’s value in the short run.
This is the Relative Strength Index (RSI), which measures the speed and change of price movements. The momentum oscillator varies from 0 to 100 as a ratio above 70 signals the asset could be overbought and poised for a correction. On the other hand, readings below 30 might be interpreted as a buying opportunity.
Currently, the index is hovering at the bearish level of 70.

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$SOL $ETH (Follow for more live news and live trades)
A top crypto analyst has issued a bold prediction for Ethereum, forecasting it will outperform both Bitcoin and Solana in the coming months. Taking to social media platform X, a crypto analyst known pseudonymously as @IamCryptoWolf highlighted that Ethereum is still bullish, with price targets reaching up to $12,000. This analysis comes in light of a 6.22% decline in the price of Ethereum in the past seven days and a continued increase in the Bitcoin dominance.
Analyst Says Ethereum Will Outperform Bitcoin
Ethereum has mostly lagged behind Bitcoin in price performance since the current market cycle began, struggling to gain momentum above the $3,000 mark since July. Ethereum bulls have faced challenges in attracting significant inflows, which has kept the price below key levels while Bitcoin has surged. 
Bitcoin recently climbed back above $67,000 and is now approaching its yearly high of $73,737. Solana has also found its way above $170 again and could continue on the momentum to break above its yearly high of $202.
However, despite Ethereum’s underperformance relative to these two crypto heavyweights, crypto analyst @IamCryptoWolf believes the trend is going to reverse in the second half of the cycle.
The analyst provided his Ethereum outlook in reference to its price movements on the 3-day candlestick chart. The chart shows Ethereum rebounding off the bottom trendline of an ascending triangle, indicating the potential for an upward move. Consequently, the analyst projected a full breakout of multiple price resistances when the momentum finally rolls into Ethereum.
Should this breakout occur, @IamCryptoWolf predicts Ethereum will surpass Bitcoin and Solana in performance during the second half of this bull cycle. He further noted a price target range for Ethereum’s surge, placing the lower boundary at $8,428, with a high-end target reaching up to $12,000. This projected breakout has sparked renewed interest in Ethereum’s ability to regain a leading position, especially among investors who are still waiting for an altcoin rally phase led by Ethereum.
What’s Next For ETH?
At the time of writing, Ethereum is trading at $2,472, having lost about 3% of its value in the past 24 hours. This sort of performance has left many ETH investors feeling uncertain about the asset’s near-term outlook. According to data from IntoTheBlock, about 51.40% of addresses that bought in between $2,106.27 and $2,855.96 are in losses, not to talk of those that bought above $2,855.96. 

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$BTC
Excessively high price estimates for Bitcoin are more common than not in this industry. However, many analysts and investors believe that Bitcoin can rally to $100,000 within the next 12 months. Matt Hougan, chief investment officer at Bitwise, also believes that Bitcoin will rally above six figures.
Let’s take a look at data that supports a Bitcoin price run to $100,000 and above. 
Spot Bitcoin ETF inflows highlight strong institutional demand
Rising demand for spot Bitcoin ETFs, which have seen an impressive $2.11 billion in net inflows since Oct. 11, is one reason for BTC’s recent price strength. These ETFs, launched in January 2024, now hold over $60 billion in assets under management, indicating significant institutional interest.
From a macroeconomic perspective, Hougan points to the upcoming Nov. 5 presidential election in the United States. Republican presidential nominee Donald Trump has also expressed strong support for Bitcoin and the inclusion of cryptocurrencies in financial markets, while candidate Kamala Harris has projected a regulatory-friendly stance that could encourage the development of crypto projects and companies in the US.
Soaring US debt highlights a government overspending problem

Hougan also emphasizes that the US government deficit has reached unsustainable levels, a situation made possible by the bipartisan agreement to raise the debt ceiling.
In just two weeks, US public debt surged by $500 billion, reaching an all-time high of $35.8 trillion. This excessive government spending weakens the US dollar, making scarce assets like Bitcoin, gold, and stocks more valuable. As a result, central banks may be forced to continue cutting interest rates to ease the government's debt repayment burden.
According to Apollo data, interest expenses on US public debt have exceeded $3 billion per day. This situation puts the Federal Reserve in a difficult position, as lowering interest rates typically fuels inflation and risks overheating the economy. Hougan notes that recent economic stimulus packages announced by China are also contributing toward pushing Bitcoin’s price closer to $100,000.
Historically, Bitcoin has shown a positive correlation with global base money, as measured by the M2 supply, which includes bank deposits and money market funds. Increased liquidity encourages more risk-taking among investors. During periods of economic expansion, when recession risks are low, traders tend to seek higher returns beyond fixed-income investments.
Whales accumulating Bitcoin will cause a “supply shock”

An analysis by Woominkyu, a verified author on CryptoQuant, illustrates that the current accumulation pattern resembles the ratio observed in July 2020, when Bitcoin's price surged by 550% in just six months.
Hougan highlights that Bitcoin accumulation by large holders has reached 1.6 million BTC over the past six months, according to CryptoQuant. This accumulation is creating a “supply shock,” as the supply of coins available for sale is unable to keep pace with the growing demand from institutional investors.

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$SOL (Please follow for more live news and live trades)
Major AI memecoins have seen double-digit price drops over the past 24 hours, signaling a cooling in the recent surge of interest sparked by endorsements from so-called AI agents like Truth Terminal and Luna.
As of the time of writing, the Truth Terminal-backed Goatseus Maximus (Ticker: GOAT) token has plummeted nearly 17%, trading around $0.066, amid a broader decline in enthusiasm for the fusion of crypto and AI.
According to Coingecko data, the total market capitalization of the AI meme token category has fallen to $1.95 billion, reflecting a 2% decrease in the past day.
Among the top five tokens listed in Coingecko’s AI meme token category, all have seen price drops: Turbo is down 3%, Goatseus Maximus has dropped 17%, Corgi AI is down 1%, Koala AI has fallen 16%, and Fartcoin has plunged by over 30%. Lesser-known AI memecoins have suffered even steeper declines, with some witnessing price drops exceeding 50%, resulting in the loss of hundreds of millions of dollars in market capitalization. The Luna by Virtuals token, which is endorsed by the Luna AI chatbot has bucked the trend and posted a modest 8% gain over the past day, according to Coingecko data.
Coingecko classifies AI meme tokens as coins inspired by or related to AI, which may leverage AI-powered agents, be created using AI tools, or derive their concepts from AI technologies and trends.
Hype surrounding the AI agent memecoin meta 
Goatseus Maximus, one of the better-known AI memecoins, owes some measure of its success to endorsements by the AI chatbot Truth Terminal, which has been actively promoting the memecoin on X.com. The token appears to have been launched by an anonymous developer on Pump.fun after Truth Terminal gained attention with a series of posts known as the "Goatse Gospel." While the AI chatbot, developed by researcher Andy Ayrey, didn’t directly create the Solana-based memecoin, it mentioned it as a concept in one of its many posts, then quickly began endorsing the token after it was anonymously created on Pump.fun.
Ayrey developed Truth Terminal as an experimental AI capable of posting autonomously without human intervention. The AI's crypto-related activities, including receiving $50,000 worth of bitcoin from venture capitalist Marc Andreessen, have drawn attention to it on social and mainstream media. While Truth Terminal initially discussed launching its own token, it ultimately ended up endorsing Goatseus Maximus instead, adding to the growing hype around the project.
First AI to amass $1 million in crypto
Beyond its involvement with Goatseus Maximus, the Marc Andreessen-backed crypto-trading AI chatbot appeared to become a crypto millionaire after its holdings in a memecoin called Fartcoin surged in value last Friday. However, the @truth_terminal account was scrutinized at the end of last week, with community members flagging spelling errors in its posts as indicating a human was behind the account rather than an AI agent.
"The truth terminal makes typoes because language models are fundamentally 'simulators' — trying to predict 'what comes next' in a long string of text. A base, untuned model will output much more chaos than this," Ayrey responded.
Ayrey said he would not trade based on his insider knowledge of the project and plans to release a project roadmap, research paper and artist statement. His goal is to clearly explain the project's mechanisms and narrative, aiming to prevent market misunderstandings and curb excessive speculation.
On Thursday, cryptocurrency exchange Binance launched a new GOAT/USDT USD-Margined perpetual contract with up to 75x leverage. This move comes as the first futures offering for the Truth Terminal-backed AI meme token.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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Tokenized U.S. Treasuries are gaining traction as a yield alternative to stablecoins, but they are unlikely to fully replace stablecoins, according to JPMorgan analysts.
Over the past year, the market for tokenized Treasuries has rapidly expanded, nearing $2.4 billion. While this is still significantly smaller than the $180 billion stablecoin market, it highlights potential challenges to stablecoins' dominance but also indicates that tokenized Treasuries could only partially replace stablecoins, JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou, wrote in a report on Thursday.
Major stablecoin issuers like Tether (USDT) and Circle (USDC) do not share reserve yields with their users, a practice that could not only decrease their revenues but also categorize stablecoins as securities, the analysts said. Such a classification would subject them to stringent regulatory oversight, which could limit their use as collateral in the crypto market, the analysts noted.
While stablecoin users have sought various strategies to earn yield, including lending, these methods come with risks and often require handing over control of assets, the analysts said. In contrast, tokenized Treasuries provide yield without the associated risks of complex trading or lending strategies, allowing users to maintain custody of their funds, they added.
But regulatory hurdles remain a challenge for tokenized Treasuries. Classified under securities law, these offerings are restricted to accredited investors, which limits broader market adoption, the analysts said. For instance, BlackRock's tokenized money-market fund BUIDL requires a minimum investment of $5 million, substantially narrowing the pool of investors due to compliance constraints tied to "Regulation D," they noted.
Despite these regulatory challenges, tokenized Treasuries are poised for further growth and may partly replace traditional stablecoins as collateral in areas like crypto derivative trading. A recent report that BlackRock's BUIDL could be used as collateral on various crypto exchanges highlights the potential demand for tokenized Treasuries, the analysts said. Additionally, tokenized Treasuries could replace non-yield-bearing stablecoins in decentralized autonomous organization (DAO) treasuries, liquidity pools and idle cash held by crypto venture funds, the analysts said.
Over time, it's possible that tokenized Treasuries could replace most of this idle cash currently held in stablecoins. However, estimating how much idle cash there is can be difficult, and it's unlikely to be a large part of the stablecoin market, the analysts said. As a result, "tokenized treasuries would eventually replace only a fraction of the stablecoin universe (unless regulations change dramatically in the future)," according to the analysts.
Currently, stablecoins have a significant advantage in terms of liquidity. With their market cap nearing $180 billion, stablecoins facilitate low transaction costs even for large trades, enabling seamless trading. Conversely, tokenized Treasuries, still in their nascent stage, have lower liquidity, the analysts said.
"This liquidity disadvantage could potentially be lessened over time as tokenized treasuries gain further traction in the future. But, as mentioned above, a full replacement of stablecoins seems unlikely given tokenized treasuries’ regulatory disadvantage (ie by being classified as securities tokenized treasuries are subjected to more restrictions that stablecoins, thus hindering their seamless use as a source of collateral in the crypto ecosystem)," the analysts concluded.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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$BTC (Please do follow for more Live News and live trades)
Bitcoin’s whale wallets – defined as those holding 100 or more BTC – have increased by 297 lately. The latest figure represents a 1.9% rise in the past two weeks.
On the other hand, wallets containing less than 100 BTC have decreased by 20,629, a decline of 0.1% during the same period.Bitcoin Whales Signal Potential Market Upswing
According to the crypto analytic platform Santiment, this shift indicates that the largest stakeholders in the crypto market are actively accumulating BTC, capitalizing on the selling pressure from retail traders.
Historically, such behavior by whales has led to bullish outcomes for bitcoin, essentially signaling that the market may be gearing up for a potential upward momentum as larger players strengthen their positions.
This accumulation trend aligns with another analysis by CryptoQuant, which revealed that whale holdings of bitcoin have reached an all-time high, with approximately 670,000 BTC currently in their possession. This accumulation is a strong indicator of confidence in the market’s long-term prospects.
“This accumulation phase can be characterized as calm before the storm in the medium and long term. The real surge in Bitcoin growth begins after whales gradually reduce their holdings until they reach negative percentage change values.”
Furthermore, the looming concern is whether bitcoin will reach a new price peak between the US presidential elections and late November. Failure to do so could foreshadow serious challenges for the ongoing bull cycle, raising alarms about potential downturns.Positive Bitcoin Network Fundamentals
The increasing whale wallets come at a time when Bitcoin’s network fundamentals are showing encouraging signs. The network hash rate, for one, recently hit anall-time high. This surge in hash rate reflects intensified competition among miners, leading to an increase in mining difficulty.
It also means that BTC’s intrinsic value is on the rise, making it a more attractive investment for savvy investors, often referred to as SmartMoney. Furthermore, since mid-September, there has been a notable uptick in the number of active bitcoin addresses over the past 30 days, correlating with a significant rise in total fees as on-chain transactions gain momentum.
In the past, spikes in bitcoin’s price have been accompanied by increased active addresses and transaction volumes, indicating a healthy network. Even if the market faces a correction or consolidation phase soon, the underlying network fundamentals strongly suggest that BTC is on track for a bullish trend ahead.

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25th October 2024 – (Washington) A crypto wallet address associated with the U.S. government, which held seized funds from Bitfinex, fell victim to a reported hack, resulting in the theft of $20 million.
According to blockchain intelligence firm Arkham, the hackers executed a sophisticated operation, siphoning $20 million worth of Tether (USDT), USD Coin (USDC), aUSDC, and Ethereum (ETH) from the compromised wallet.
The stolen stablecoins were swiftly converted into Ethereum and funnelled into multiple addresses labelled “Binance Deposit.” Arkham’s analysis suggests that the hackers have initiated the process of laundering the illicit proceeds through addresses linked to suspicious money laundering services.
In a concerning turn of events, Arkham also noted that moments before the unauthorized transfers took place, the US government withdrew $5.4 million from Aave, marking its first activity on the address in eight months.
Furthermore, an additional $1.12 million in Tether (USDT) was withdrawn from Aave by the government, raising further questions about the intricacies of the breach.
Blockchain investigator ZachXBT weighed in on the situation, describing the hack as “nefarious” and attributing the funds’ movement to outright theft.
The saga harks back to the infamous 2016 heist where a hacker duo made off with 120,000 Bitcoin (BTC), presently valued at around $8.2 billion. The culprits, Ilya Lichtenstein and Heather Morgan, are slated for sentencing this November.
US law enforcement agencies intervened post the theft, securing the pilfered crypto assets in what was deemed a significant seizure by the United States Department of Justice at the time.
As investigations unfolded, it was revealed that the hacker wallet that received substantial sums from government-associated funds utilised 1inch, an exchange aggregator, to convert stablecoins into Ethereum. Subsequently, the perpetrators fragmented the Ethereum into $40,000 increments and transferred them to a deposit address for a crypto exchange, initially thought to be Binance, but later clarified by ZachXBT as a “nested exchange utilising Binance for liquidity.”

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$BTC (Guys dont forget to follow trying to hit 1000 followers )
Bitcoin {{BTC}} may cross previous highs in the coming weeks regardless of which candidate becomes the U.S. president, some traders say, in a shift of tone ahead of the November elections.
Traders have long perceived Republican Donald Trump’s victory as a bullish catalyst for the industry for his pro-crypto stance and promises to make the U.S. a bitcoin powerhouse. Democrat Kamala Harris, on the other hand, has not made similar promises but said he would introduce regulations to protect certain groups.
Such stances have skewed expectations of a Republican win as better for bitcoin. However, some say the asset is poised to go higher either way as several macroeconomic factors weigh in.
“Both Presidential candidates have adopted pro-crypto stances to appeal to voters, but it's tough to say if any of their promises will come to pass,” Jeff Mei, chief operating officer at crypto exchange BTSE, told CoinDesk in a Telegram message. “However, It is clear that the market is responding positively to the upcoming change in administration and policies - whether it's Harris or Trump, traders and investors think any sort of change will be good.”
“The fact that this coincides with the first Fed rate cuts in four years and a recent run-up in stock prices only adds to the thesis that Bitcoin could surpass its all-time high and reach $80,000,” Mei added.
Options traders are already increasing bets that bitcoin will touch fresh highs by the end of November, per Bloomberg. The implied volatility for bitcoin options due around election day is elevated.
The open interest for call options expiring on November 29 shows a significant concentration at the $80,000 strike price, followed by a notable interest at the $70,000 level. For call options with expiration on December 27, the open interest is primarily grouped around the $100,000 and $80,000 strike prices.
Options due to expire on November 8 have their highest open interest at the $75,000 strike price, indicating a key market focus area for that period.
However, some are terming the price behavior as an election hedge rather than a bullish outlook.
“I wouldn't say that people buying 80K calls on BTC to be a bet on higher prices, but is more like a cheap option (implied vol really hasn't gone up that much) against a broader market rally,” Augustine Fan, head of insights at SOFA, told CoinDesk in a Telegram message.
“BTC vol skews heavily in favor of higher prices post election, but that has been the case for quite a few weeks now as an election 'hedge,” Fan added.
BTC is down 0.7% over the past 24 hours, CoinGecko data shows, outperforming a 1.6% drop in the broad-based CoinDesk 20 (CD20).

#BinanceTurns7 #WeAreAllSatoshi #btc70k #BTC #Metaplanet
Japanese investment firm Metaplanet Inc. has raised about 10 billion yen ($66 million) by completing its stock acquisition rights exercise, as the company continues to pour money into bitcoin investments.
The Tokyo-listed firm disclosed on Wednesday that its 11th planned stock acquisition rights have been exercised, with participation from 13,774 individual shareholders. With the plan, shareholders were given the opportunity to buy shares at a discounted rate.
The firm commenced the stock acquisition rights period on Sept. 6 and concluded on Oct. 15. The total funds raised through the approach amounted to 10 billion yen, according to the filing.
“We would like to thank all shareholders for their invaluable support and contribution, which strengthens Metaplanet’s mission of becoming a leading bitcoin treasury company,” Simon Gerovich, CEO of Metaplanet, wrote in a post on X on Tuesday. 
While Metaplanet did not specify in the filing how it would use the newly raised funds, the firm has been on a bitcoin buying spree in recent months after announcing in May that it had started to adopt bitcoin as its strategic treasury reserve asset. Earlier this month, it purchased an additional 106.976 bitcoin worth about 1 billion yen ($6.6 million), raising its total holdings to 855.478 BTC, or about $57.4 million at current market prices.
Metaplanet also announced last week that it has rolled up its bitcoin put options previously disclosed on Oct. 3, adjusting the strike price to $66,000 from $62,000 as the firm remains optimistic about the outlook of the world’s largest cryptocurrency.
Metaplanet’s stock closed down 6.57% at 1,110 yen on Wednesday in Japan. However, its stock price has risen 6.53% over the past month and 593.75% year-to-date. The Nikkei 225 index was down 0.8% today.
Meanwhile, Michael Saylor-led MicroStrategy remains the largest corporate bitcoin holder, owning 252,220 BTC, according to BitcoinTreasuries data. Marathon Digital follows this record with 26,842 BTC.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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On-chain data shows a Bitcoin signal that has led to at least a 70% rally the last four times has recently formed for the asset once again.
Bitcoin MVRV Momentum Has Seen A Bullish Crossover Recently
In a new post on X, analyst Ali Martinez has discussed the recent trend in the Bitcoin Market Value to Realized Value (MVRV) Ratio. The “MVRV Ratio” is an indicator that keeps track of the ratio between the Bitcoin market cap and the realized cap.
The realized cap here refers to an on-chain capitalization model that calculates the total value of the asset by assuming that the true value of any token in circulation is the price at which it was last transacted on the blockchain and not the current spot price.
This last transaction price of any coin is likely to be its latest cost basis, so the realized cap is essentially a sum of the cost basis of all tokens in circulation. Put another way, this model represents the capital the investors have put into the asset.
In contrast, the market cap, which calculates the total valuation of the total BTC supply at the current spot price, signifies the value the investors hold right now.
When the value of the MVRV Ratio is greater than 1, the investors hold more value than they put in, so they are in a state of net profit. On the other hand, the metric under this threshold suggests the market as a whole is carrying a loss.
Now, here is a chart that shows the trend in the Bitcoin MVRV Ratio and its 180-day moving average (MA) over the last few years:

As displayed in the above graph, the Bitcoin MVRV Ratio has seen a surge recently as the asset’s price has gone through its recovery run, implying investor profitability has improved.
With this increase, the indicator has now broken above its 180-day MA. Historically, a surge beyond this line has meant that the momentum of the metric has flipped to positive, which has proven to be a bullish predictor for the price.
In the chart, the analyst highlighted the previous rallies that followed a momentum flip in the MVRV Ratio. BTC appeared to have seen surges of at least 70% on each of the last four occasions.
Going by this precedent, the latest change in the MVRV Ratio momentum to green may again lead to a surge for Bitcoin. It only remains to be seen, though, whether any such rally would be of a comparable scale to the previous ones or not.
BTC Price
At the time of writing, Bitcoin is trading at around $67,500, up almost 3% over the last week.