Lookonchain APP

App Store

Report: Bitcoin Institutional Buyers Yet to Stage Comeback, Market Still in Consolidation Phase

15 hours ago

On March 17th, Bitfinex put forth a new report indicating that Bitcoin has been in a continuous decline ever since reaching a historical high of $109,590 on January 20th. The lowest point last week was $77,041, representing a 29.7% pullback, which marks the second deepest correction within this bull market cycle. While in history, bull markets usually witness a 30% retracement before resuming the upward trend, in this cycle, there had been shallower declines previously due to institutional adoption and ETF-driven demand. Short-term holders continue to endure unrealized losses, which intensifies the selling pressure. These investors, especially those who purchased in the past 7 to 30 days, are typically the most prone to giving up. Historically, when fresh capital inflows slow down and the cost basis trend changes, it suggests a weakening demand environment. With Bitcoin struggling to maintain key levels, this trend is becoming more evident. In the absence of new buyers entering the market, Bitcoin may experience a prolonged consolidation period or even further declines as weak hands continue to exit. A crucial factor to keep an eye on is whether long-term holders or institutional demand will reemerge at these lower levels. If deep-pocketed investors begin to absorb the supply, it could signify a shift towards an accumulation phase, stabilizing price movements and reversing market sentiment.
Relevant content

BMT Surpasses $0.22, Hits All-Time High

On March 18th, based on GMGN market data, BMT has surpassed $0.22 and is currently trading at $0.224, reaching a new all-time high with a 24-hour increase of 96%.

1 seconds ago

Cumberland has received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS).

On Monday, Cumberland SG, the Asian subsidiary of the U.S.-based cryptocurrency exchange company Cumberland, announced that it has received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS). Cumberland stated that once the MPI license is fully granted, it will be able to provide regulated digital payment token services in Singapore.

1 seconds ago

a16z Founder: ElizaOS v2 1.0.0 Beta Released

On March 18, a16z co-founder Shaw tweeted that the ElizaOS v2 1.0.0 Beta has been made available. Previously, Shaw stated that the ElizaOS v2 1.0.0 version is in the process of development and will soon be released for beta testing. There remains a significant amount of work to be completed before the final release, and the new version will include an app.exe, enabling anyone to run the agent without the need for any cumbersome programs.

1 seconds ago

BSC Ecosystem DEX has reached a 24-hour trading volume of $2.544 billion, ranking first

On March 18th, according to the data from DeFiLlama, the DEX in the BSC ecosystem achieved a 24-hour trading volume of $25.44 billion, surpassing Ethereum's $13.48 billion and taking the lead. Moreover, PancakeSwap, the major DEX in the BSC ecosystem, also became the DEX protocol with the highest trading volume in the past 24 hours, with a volume of $16.39 billion.

1 seconds ago

World Network has partnered with Razer, and Razer ID will be verified by World ID.

On March 18th, World Network announced a partnership with Razer. Under this partnership, Razer ID will be verified by World ID, which is a human identity authentication technology designed to enhance game security and ensure a player-centric gaming experience.

1 seconds ago

The Trump Team Explores Streamlining Peer-to-Peer Tariff Scheme

On March 18th, as reported by The Wall Street Journal, officials within the Trump administration are having a fierce debate regarding how to carry out Trump's tariff commitment. It is stated that U.S. officials are currently considering whether to simplify the complex task of setting new tariff rates for hundreds of U.S. trading partners and instead classify countries into three tariff levels. (Wall Street Journal)

1 seconds ago