• Bitcoin’s (BTC) trading volume has surpassed $40 billion, and its price has been on a roller coaster.
• Institutional investors are placing substantial bets on Bitcoin, with corporate and government treasuries holding BTC valued at over $30 billion.
• Goldman Sachs‘ recent declaration of support for Bitcoin has increased investor confidence, and history has shown that bull runs in the price of Bitcoin typically last four years.

The digital asset Bitcoin (BTC) is currently enjoying a wild ride, with its trading volume surpassing $40 billion and its price taking an up-and-down roller coaster. The fact that institutional investors are placing substantial bets on Bitcoin must be noted, with corporate and government treasuries holding BTC valued at slightly over $30 billion as of this writing. This is according to the Basel Committee of the Bank for International Settlements (BIS), who estimates that the global banks currently own over $9 billion in cryptocurrency, with Bitcoin and derivatives based on it accounting for 56% of this total.

The increased interest in Bitcoin from institutional investors has been buoyed by news from prominent companies, such as MicroStrategy. Michael Saylor, the co-founder of MicroStrategy, has a strong bullish outlook for Bitcoin, with approximately 130,000 BTC, or 0.62% of the 19 million Bitcoin currently in circulation, owned by his company. Additionally, Goldman Sachs‘ recent declaration of support for Bitcoin has increased investor confidence in the cryptocurrency, with a recent tweet from a single user pointing out that the S&P 500, US Treasury bonds, gold, and other well-known indices were all beaten by Bitcoin in Goldman Sachs‘ ranking of the best-performing assets for 2022.

History has shown that bull runs in the price of Bitcoin typically last four years. The initial step of this cycle is the accumulation of Bitcoin, which is followed by a period of increased trading activity and an uptick in price. This has been seen in the current bull run, with the largest exchanges seeing a surge in trading volume and the price of Bitcoin rising to all-time highs.

The increased institutional interest in Bitcoin may signal that a new wave of investors are entering the market, and this could cause the price of Bitcoin to reach new heights. As the market continues to develop, many traders and investors are unsure of where Bitcoin will go next. However, with the increased institutional interest, it is possible that Bitcoin could reach even higher levels in the years to come.

• Bitcoin investor appetite has resumed, according to multiple indicators.
• Open Interest and MVRV ratios are demonstrating a shift to the positive trend.
• However, there is still a risk of potential downside due to GBTC mismanagement.

The Bitcoin [BTC] market has been on a roller-coaster ride for the past few months. After hitting a peak of USD 42,000 in mid-January, the premier cryptocurrency dropped to as low as USD 30,000 in the first half of February. This price crash caused many investors to panic, resulting in some of them cashing out their BTC holdings. However, after the market stabilized, it appears that Bitcoin investors are once again feeling confident, as multiple indicators are pointing to a potential bull run.

CryptoQuant, a crypto analysis firm, recently released an analysis on 19 January which indicated the start of Bitcoin’s next bull run. The analysis observed that holders had shifted their coins from the spot to the derivatives market. This allows them to tap into leverage, which was confirmed by the rise in Open Interest since the start of the year. The MVRV ratio, which measures the ratio of market capitalization to realized capitalization, was also attempting to recover above 1. Similarly, the Puell multiple was also showing a shift in favor of the positive trend.

Despite the positive indicators, there is still a risk of potential downside for Bitcoin. This is mainly due to the mismanagement of the Digital Currency Group (DCG) and Genesis, which could potentially trigger a mega liquidation and lead to another selloff. This might be the reason why the Purpose Bitcoin ETF holdings have continued to offload its BTC. Additionally, the number of addresses holding over 1,000 BTC has only increased by a small margin since the start of January.

All in all, while there are positive indicators of a potential bull run, investors should still exercise caution as there is still a significant risk of downside. It is thus important to stay abreast of the latest market developments and take into account the potential risks before making any investment decisions.

• Binance Coin [BNB] traded at a significant resistance zone, where traders can wait for a move below $270 before looking to enter short positions.
• The lower timeframe market structure was strongly bullish, but the drop beneath $276.8 saw its character change. The bias remained bullish, but the RSI was at 50.02 to signal momentum could flip downward.
• A move above $280 could be a hunt for liquidity, and traders can wait for a session close above $284.4 and a retest of the $276-$280 area to assess a buying opportunity.

Binance Coin [BNB] experienced a significant level of resistance recently, as it traded at a key resistance zone. This saw traders looking to enter short positions below the $270 mark in order to capitalize on potential bearish momentum. The technical indicators also signaled that a downward reversal could be on the cards, as the Relative Strength Index (RSI) was hovering around the 50.02 mark.

The lower timeframe market structure for BNB was strongly bullish, however, the drop beneath $276.8 changed the character of the market. Despite this, the overall bias remained bullish and traders were looking for a way to capitalize on this upside movement. To the north, the $280, $300 and $315 levels are considered to be critical resistance levels. A move above these levels could be seen as a hunt for liquidity, and traders can wait for a session close above $284.4 and a retest of the $276-$280 area to assess a buying opportunity.

The Accumulation/Distribution indicator has also been forming higher lows over the past week which indicates genuine demand behind the rally from $240. Additionally, the Chaikin Money Flow (CMF) was at -0.07 which suggests that there has been a significant outflow of capital from the market in recent hours.

Given the current market conditions, traders may have to be patient in order to capitalize on any potential upside momentum. Ultimately, a session close above $284.4 and a retest of the $276-$280 area could provide traders with an opportunity to enter into long positions. On the other hand, a session close below $270 could lead to a quick decline in the price of BNB.

• The Judge has granted the platform the right to sell millions of dollars of stablecoin belonging to nearly 600,000 Earn customers.
• Customers will now have to prove their claims that they own the cryptocurrency assets in their accounts in order to receive full repayment.
• The Judge favored Celsius in its move to sell $18 million stablecoins, ruling it was unnecessary to resolve whether the sale was in the ordinary course of business.

The United States Bankruptcy Court recently granted Celsius Network the authority to sell millions of dollars of stablecoins belonging to its nearly 600,000 Earn customers. This ruling comes after the platform won the rights to the customers‘ $4.2 billion worth of crypto deposits.

The ruling stated that when the cryptocurrency assets were deposited in Earn Accounts, they became Celsius’s property. This means that customers are now classified as unsecured debtors under bankruptcy law and will have to prove their claims that they own the cryptocurrency assets in their accounts. However, the Judge noted that there may not be enough funds to repay all customers in full.

The U.S. states had also sought to block Celsius Network’s move to sell its $18 million stablecoins held in Earn accounts, arguing that it was unnecessary given the platform still had money left to conduct operations for a few more months. However, the Judge favored Celsius in this matter, ruling that it was unnecessary to resolve whether the sale of stablecoins would be in the ordinary course of business.

By winning the rights to its customers‘ crypto funds, Celsius Network has now become the custodian of these funds. This ruling will be a major factor in determining how the platform will use these funds going forward and how much of these customers‘ claims will be repaid.

• The number of unique addresses holding APE increased substantially over the last year, from 20,000 to 100,000.
• APE’s staking rewards program and associated NFT collections were two of the reasons for the growth in number of holders.
• On-chain activity for APE has increased, with the TVL generated by staking APE increasing from $627,000 to $29.3 million, and the overall volume for MAYC increasing by 52.31%.

The cryptocurrency ApeCoin (APE) has seen an increase in its number of unique holders over the past year. This growth can be attributed to the token’s staking rewards program and associated Non-Fungible Token (NFT) collections. On-chain activity for APE has also increased, with the Total Value Locked (TVL) generated by staking APE increasing from $627,000 to $29.3 million, and the overall volume for Mutant Ape Yacht Club (MAYC) increasing by 52.31%.

According to data provided by crypto analytics firm Delphi Digital, the number of unique addresses holding APE grew from 20,000 to 100,000 since March 2022. This growth is likely due to APE’s staking rewards program, which encourages holders to stake their APE in order to earn rewards. Data from Dune Analytics showed that the TVL generated by staking APE in the BAYC pool increased from $627,000 to $29.3 million, while the estimated Annual Percentage Yield (APY) increased to 224%.

APE’s associated NFT collections have also seen a surge in popularity, which has likely contributed to the increase in number of holders. Bored Ape Yacht Club (BAYC) has seen its floor price increase by 4.07% over the last 30 days, while the number of whale sales has also increased during that period. MAYC’s volume has also grown significantly, with the overall volume increasing by 52.31% in the last 30 days.

These developments have translated to APE’s on-chain activity as well. Over the last summer, the number of transactions for APE increased from 300,000 to over 1 million. Furthermore, the amount of APE transferred on-chain increased from $10 million to over $100 million during the same period.

Overall, the increasing popularity of APE is evident from the growth in the number of unique holders, TVL generated by staking APE, NFT collections and on-chain activity. As the blockchain space continues to grow, it is likely that the number of APE holders will continue to increase in the future.

• Chiliz (CHZ) has found favor with top Ethereum (ETH) whales, temporarily flipping Shiba Inu (SHIB) as the most traded token by this cohort.
• Despite this, CHZ has not seen any positive price rally, currently trading at $0.1001 with a 0.1% decline in the last 24 hours and 8% drop in trading volume.
• Technical indicators show CHZ is severely oversold, with the Relative Strength Index (RSI) at 27.40 and Money Flow Index (MFI) at 32.30.

Chiliz (CHZ) has been making waves in the crypto world, as it was recently revealed by WhaleStats that the altcoin has found favor with top Ethereum (ETH) whales and momentarily flipped Shiba Inu (SHIB) as the most traded token by this cohort of investors. This news was met with optimism, but unfortunately the price of CHZ has not seen any positive response, instead continuing its bearish trend it closed 2022 with.

At press time, CHZ was exchanging hands at $0.1001, logging a 0.1% decline in value in the last 24 hours and an 8% drop in trading volume within the same period. This is not the kind of response investors had been hoping for after such a big announcement, and indicates that the market sentiment is still bearish.

Technical indicators are also in agreement with this bearish sentiment, with key momentum indicators positioned far from their respective neutral lines. This indicates that CHZ is severely oversold, with its Relative Strength Index (RSI) currently at 27.40 and its Money Flow Index (MFI) at 32.30. These numbers have been on a steady decline ever since the FTX debacle and have only worsened as the days go by. This further confirms the control the bears have taken over the market, with the Directional Movement Index (DMI) being positioned in favor of the sellers since mid-November.

Overall, it remains to be seen if CHZ will be able to make a comeback and if the recent news of its favor amongst top Ethereum whales will have any effect on its price. For now, investors should keep an eye on the indicators and the market sentiment to get a better understanding of the current situation.