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    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

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    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

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    Economic Fail Or Key To A Creative Future?

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    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

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    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

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    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

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    Disney Metaverse

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    Man wearing smart glasses touching a virtual screen to access the metaverse

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    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

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  • Analysis
    Ethereum

    Ethereum Turns Red, Why ETH Must Hold This Key Support

    bitcoin bollinger bands

    Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

    Bitcoin

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    Ethereum

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    Bitcoin

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    bitcoin google

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    Harmony's Cross-Chain Bridge Exploited for $100M

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  • Learn About Crypto
    Overbought vs. Oversold Signals

    Overbought vs. Oversold Signals

    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

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    How to Survive a (Crypto) Bear Market

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    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

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    A Beginner’s Guide To Reversal Candlestick Patterns

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  • Regulation
    Celsius denies allegations on Alex Mashinsky trying to flee US

    Celsius denies allegations on Alex Mashinsky trying to flee US

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Central African Republic president launches crypto initiative following Bitcoin adoption

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    Educating regulators will help to mitigate risks, says Figment exec

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    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

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    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    Catalonia is building its own metaverse, says innovation minister

    Catalonia is building its own metaverse, says innovation minister

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The Green and Red Signals to Watch for Bitcoin (BTC)

February 21, 2022
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The world’s largest cryptocurrency Bitcoin (BTC) continues to remain under pressure after losing the $40,000 support last Saturday. In a further price correction, the BTC price took a dive under $38,000 before recovering back again.

While the bitcoin price remains highly volatile, we are looking at some of the on-chain metrics that can help decide on the future price action. Citing data from Glassnode, crypto enthusiast Ali Martinez points out some entity-adjusted dormancy flow for Bitcoin. He writes:

Entity-Adjusted Dormancy Flow shows that old hands have significantly reduced their $BTC spending behavior. A dormancy value of 250K or lower, suggests #BTC is a good historical buy zone. Since Jan. 06, #Bitcoin dormancy value dropped below 250K and currently sits at 228K.

Courtesy: Glassnode

However, it won’t be an easy path for Bitcoin on the road to recovery. It will have to break past some crucial resistances on its way to surge past crucial resistance of $40,000 and more.

The Downside Risks for Bitcoin

The Bitcoin whale behavior recently suggests that we could be heading for a major correction going ahead. Citing data from Santiment, crypto analyst Ali Martinez explains:

The number of whales on the network with 100 to 100,000 $BTC has remained flat since Feb 1. These wealthy market participants do not appear interested in buying #BTC at the current price levels and could be expecting to buy #Bitcoin at a discount.

Courtesy: Santiment

Furthermore, the analyst also predicts the Bitcoin price trajectory based on the technical charts, Martinez writes:

Bitcoin could be looking to find support around the 200MA on the 3-day chart at $37K or it may test Tom DeMark’s setup trendline at $33.5K. Failing to hold above this crucial support zone could trigger a cascade of liquidations in the futures market, pushing $BTC further down.

Looking at the recent Bitcoin price action, many analysts believe that we could be at the beginning of the next “crypto winter”. Recently, CEO of crypto exchange Huobi said that we should not expect a Bitcoin bull run until late 2024 or early 2025.



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  • bitcoinBitcoin(BTC)
    $21,068.00-1.86% 24H
    BITCOIN
    24H : -1.86%
    Volume : $18,561,929,789.00
    Marketcap : $402,291,135,238.00
  • ethereumEthereum(ETH)
    $1,222.69-0.84% 24H
    ETHEREUM
    24H : -0.84%
    Volume : $13,361,455,787.00
    Marketcap : $148,401,812,275.00
  • tetherTether(USDT)
    $0.996-0.44% 24H
    TETHER
    24H : -0.44%
    Volume : $47,942,859,800.00
    Marketcap : $66,617,824,829.00
  • usd-coinUSD Coin(USDC)
    $0.999-0.32% 24H
    USD COIN
    24H : -0.32%
    Volume : $4,938,798,339.00
    Marketcap : $55,645,129,055.00
  • binancecoinBNB(BNB)
    $238.71-0.56% 24H
    BNB
    24H : -0.56%
    Volume : $887,042,235.00
    Marketcap : $38,992,572,103.00