70K – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Mon, 17 Mar 2025 11:05:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 70K – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Bitcoin Faces Massive 'Supply Gap' Between $70K and $80K https://earlybirdsinvest.com/bitcoin-faces-massive-supply-gap-between-70k-and-80k/ https://earlybirdsinvest.com/bitcoin-faces-massive-supply-gap-between-70k-and-80k/#respond Mon, 17 Mar 2025 11:05:14 +0000 https://earlybirdsinvest.com/bitcoin-faces-massive-supply-gap-between-70k-and-80k/

Bitcoin’s (BTC) ongoing price pullback could accelerate below $80K, as on-chain analysis by Glassnode indicates that the $10K price range beneath this level was marked by weak economic activity late last year.

BTC prices quickly rose from $70K to above $80K in early November after pro crypto Donald Trump won the U.S. Presidential election. As a result, very little BTC changed hands between those levels, leaving a so-called “supply gap,” as evident from Glassnode’s UTXO Realized Price Distribution (URPD) chart.

This metric tracks the price points at which existing bitcoin UTXOs were last moved. Each bar represents the volume of bitcoin that last changed hands within a specific price range. The data is entity-adjusted, meaning it assigns an average purchase price for each entity, categorizing its full balance accordingly.

Bitcoin’s rapid surge from the mid-$60K to over $100K following Donald Trump’s U.S. election victory left little supply accumulation in the $70K to $80K range, as it traded only for a few days between these levels.

In other words, the total number of traders with acquisition prices between $70K and $80K is likely to be far less than at other levels. So, a move below $80K will likely see very little bargain hunting from holders looking to buy more at their acquisition costs, thus ensuring little support before $73K, the all time high set in March 2024.

Besides, as bitcoin currently consolidates above $80K, approximately 20% of the total supply is currently at a loss—meaning these holdings were purchased above the current price of $83K. These wallets could add to the selling pressure below $80K, leading to a quick slide.

Glassnode data shows that approximately 100,000 BTC have been sold by short-term holders due to the price correction. While the lack of supply and current tepid demand has already contributed to bitcoin’s 30% pullback from its all-time high of $108K.

BTC: Entity Adjusted URPD (Glassnode)

BTC: Entity Adjusted URPD (Glassnode)

]]> https://earlybirdsinvest.com/bitcoin-faces-massive-supply-gap-between-70k-and-80k/feed/ 0 25623 Bitcoin Traders Now Target $70K as Japan Bond Yields Surges to 17-Year Highs https://earlybirdsinvest.com/bitcoin-traders-now-target-70k-as-japan-bond-yields-surges-to-17-year-highs/ https://earlybirdsinvest.com/bitcoin-traders-now-target-70k-as-japan-bond-yields-surges-to-17-year-highs/#respond Mon, 10 Mar 2025 08:59:29 +0000 https://earlybirdsinvest.com/bitcoin-traders-now-target-70k-as-japan-bond-yields-surges-to-17-year-highs/

Crypto bulls may need to brace for some turbulence as Japan’s 20-year government bond yield surged to its highest level since 2008 in a move that has historically led to aversion from risk assets such as bitcoin (BTC).

The Japanese Government Bond (JGB) yield climbed to 2.265% last week, a level not seen since the global financial crisis, amid speculation of potential rate hikes by the Bank of Japan (BOJ) and rising inflationary pressures.

These are similar conditions to August 2024, where strength in the yen saw a global sell-off from equities to bitcoin, as CoinDesk reported at the time.

A surge in Japanese bond yields, coupled with geopolitical and economic uncertainties, is fueling concerns among traders that BTC could face a significant correction. Higher yields indicate that the Bank of Japan may raise interest rates to control inflation or manage its large public debt.

Rising yields in Japan often signal broader global economic uncertainty or tighter financial conditions. This creates a stronger yen, which can reduce the appeal of carry trades, where investors borrow in yen to invest in higher-yielding assets like BTC.

As such, traders are targeting a low of $70,000 for bitcoin in the coming weeks amid macroeconomic jitters, an ongoing tariff trade war and the general lack of market catalysts after a run-up to the U.S. presidential elections.

“We believe that the geopolitical and economic uncertainty is causing institutions to pare down their crypto holdings, and Bitcoin could very well drop to the $70-80k range in the coming weeks,” Jeff Mei, Chief Operating Officer at BTSE, said in a Telegram message to CoinDesk.

“Only when this tariff war ends and the Fed resumes cutting rates will top cryptocurrencies resume trending towards previous all-time highs,” Mei added, reflecting growing apprehension about the impact of U.S. trade policies nd the Federal Reserve’s cautious stance on interest rate cuts in 2025.

Elsewhere, Augustine Fan, Head of Insights at SignalPlus, painted a grim technical picture: “Price action has turned technically very negative, and the high realized volatility has worsened the BTC risk-adjusted profile, with few (if any) immediate positive catalysts on the horizon.”

Fan’s comments align with a CoinDesk analysis on Sunday, which noted that BTC is testing the 200-day simple moving average (SMA) and a close below it could mean a critical break in a strong support trendline.

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