Market Analysis

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2024 Report Finds 96% of NFTs Declared ‘Dead’ Amid Market Instability

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A recent report by nftevening.com reveals a troubling state of the non-fungible token (NFT) market, with 96% of NFTs now considered “dead.” The analysis highlights the high unprofitability rate among holders and the fleeting lifespan of most NFTs. NFT Sector Faces Uncertain Path as 2024 Bull Run Bypasses It As highlighted in nftevening.com’s 2024 report, … Read more

US Election-Year Bull Runs: How Bitcoin Historically Surged Post-Victory

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With just 65 days remaining until the U.S. presidential election, bitcoin wrapped up August with an 8.6% decline compared to where it started the month. Historically, in the last two election cycles, bitcoin’s value has only shown substantial appreciation after the election had ended and a victor was declared. From 2012 to 2020: How Bitcoin … Read more

PCE Report Triggers Gold Slide, Analyst Warns Fed Rate Cut Could Deepen Losses

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On Friday, Aug. 30, 2024, gold experienced a decline in value, coinciding with the U.S. Commerce Department’s release of the personal consumption expenditures (PCE) price index data. The PCE climbed by 2% in July, aligning perfectly with market expectations. During the day, gold hit a low of $2,495, but it later bounced back, crossing the … Read more

Cryptoquant Report Reveals Faltering Global Bitcoin Demand Despite Recent Spike

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A recent report from Cryptoquant reveals that comments by Federal Reserve Chairman Jerome Powell sparked a surge in U.S. bitcoin demand last week, though overall global demand remains weak. The report highlights the mixed signals in the market following the Fed’s announcement. Analysis Says Weak Global Bitcoin Demand Persists Cryptoquant‘s report details how bitcoin’s price … Read more

Bitcoin Investors Face Diverging Fortunes as Long-Term Holders Stay Steady, Glassnode Reveals

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Bitcoin’s market dominance has reached 56% as long-term holders continue to accumulate despite turbulent market conditions, according to a comprehensive report by Glassnode. The latest onchain report highlights a divergence in investor behavior, with short-term holders bearing the brunt of recent losses. Long-Term Bitcoin Holders Show Resilience, Averaging $138M in Daily Profits, Says Glassnode Glassnode‘s … Read more