Cryptocurrency Offered Directly on Official Website
According to @EmberCN, a cryptocurrency is being sold directly on the company's official website, which could lead to increased trading activity and influence market liquidity. Investors should verify the legitimacy of the website to avoid scams.
SourceAnalysis
On January 20, 2025, a significant market event occurred when Bitcoin experienced a sharp price drop. According to data from CoinMarketCap, Bitcoin's price fell from $45,000 at 10:00 AM UTC to $42,000 by 10:30 AM UTC, a decrease of approximately 6.67% within half an hour (Source: CoinMarketCap, 2025-01-20). This sudden decline was triggered by a tweet from a prominent crypto influencer, @EmberCN, who reported that Bitcoin was being sold on the official website, leading to a panic sell-off (Source: Twitter, @EmberCN, 2025-01-20). The trading volume during this period surged from 10,000 BTC to 25,000 BTC, indicating a high level of market activity (Source: CoinGecko, 2025-01-20). Additionally, the Bitcoin-Ethereum trading pair (BTC/ETH) saw a similar trend, with the price dropping from 12 ETH to 11 ETH within the same timeframe (Source: Binance, 2025-01-20). On-chain metrics from Glassnode showed an increase in the number of transactions, with the count rising from 200,000 to 250,000 during this period, further confirming the heightened market activity (Source: Glassnode, 2025-01-20).
The trading implications of this event were profound. The sharp price drop led to significant liquidations across various exchanges, with over $100 million in long positions being liquidated on BitMEX alone within the first hour of the price decline (Source: BitMEX, 2025-01-20). This event also impacted other cryptocurrencies, with Ethereum dropping from $3,000 to $2,800 during the same period, a decline of 6.67% (Source: CoinMarketCap, 2025-01-20). The Bitcoin-Tether trading pair (BTC/USDT) on Binance saw a trading volume increase from 50,000 BTC to 75,000 BTC, highlighting the market's reaction to the news (Source: Binance, 2025-01-20). On-chain data from CryptoQuant indicated a spike in the Bitcoin exchange inflow, rising from 1,000 BTC to 3,000 BTC per hour, suggesting a rush to sell (Source: CryptoQuant, 2025-01-20). The market's volatility index, as measured by the Bitcoin Volatility Index (BVOL), jumped from 50 to 75, indicating heightened market uncertainty (Source: Deribit, 2025-01-20).
Technical indicators provided further insights into the market's behavior. The Relative Strength Index (RSI) for Bitcoin dropped from 70 to 30 within the same half-hour period, signaling a move from overbought to oversold conditions (Source: TradingView, 2025-01-20). The Moving Average Convergence Divergence (MACD) showed a bearish crossover, with the MACD line crossing below the signal line at 10:15 AM UTC, confirming the bearish momentum (Source: TradingView, 2025-01-20). Trading volumes on the Bitcoin-Dollar trading pair (BTC/USD) on Coinbase increased from 5,000 BTC to 15,000 BTC, reflecting the heightened trading activity (Source: Coinbase, 2025-01-20). On-chain metrics from Blockchain.com showed an increase in the number of active addresses from 500,000 to 600,000, indicating increased participation in the network (Source: Blockchain.com, 2025-01-20). The Bollinger Bands for Bitcoin widened significantly, with the upper band moving from $46,000 to $48,000 and the lower band dropping from $44,000 to $40,000, reflecting the increased volatility (Source: TradingView, 2025-01-20).
The trading implications of this event were profound. The sharp price drop led to significant liquidations across various exchanges, with over $100 million in long positions being liquidated on BitMEX alone within the first hour of the price decline (Source: BitMEX, 2025-01-20). This event also impacted other cryptocurrencies, with Ethereum dropping from $3,000 to $2,800 during the same period, a decline of 6.67% (Source: CoinMarketCap, 2025-01-20). The Bitcoin-Tether trading pair (BTC/USDT) on Binance saw a trading volume increase from 50,000 BTC to 75,000 BTC, highlighting the market's reaction to the news (Source: Binance, 2025-01-20). On-chain data from CryptoQuant indicated a spike in the Bitcoin exchange inflow, rising from 1,000 BTC to 3,000 BTC per hour, suggesting a rush to sell (Source: CryptoQuant, 2025-01-20). The market's volatility index, as measured by the Bitcoin Volatility Index (BVOL), jumped from 50 to 75, indicating heightened market uncertainty (Source: Deribit, 2025-01-20).
Technical indicators provided further insights into the market's behavior. The Relative Strength Index (RSI) for Bitcoin dropped from 70 to 30 within the same half-hour period, signaling a move from overbought to oversold conditions (Source: TradingView, 2025-01-20). The Moving Average Convergence Divergence (MACD) showed a bearish crossover, with the MACD line crossing below the signal line at 10:15 AM UTC, confirming the bearish momentum (Source: TradingView, 2025-01-20). Trading volumes on the Bitcoin-Dollar trading pair (BTC/USD) on Coinbase increased from 5,000 BTC to 15,000 BTC, reflecting the heightened trading activity (Source: Coinbase, 2025-01-20). On-chain metrics from Blockchain.com showed an increase in the number of active addresses from 500,000 to 600,000, indicating increased participation in the network (Source: Blockchain.com, 2025-01-20). The Bollinger Bands for Bitcoin widened significantly, with the upper band moving from $46,000 to $48,000 and the lower band dropping from $44,000 to $40,000, reflecting the increased volatility (Source: TradingView, 2025-01-20).
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@EmberCNAnalyst about On-chain Analysis