The indicator identifies trends by calculating the 180-day m | CrypticNews Hub on Binance Square

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The indicator identifies trends by calculating the 180-day moving average of the MVRV difference between #ETH and #BTC over time.

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Morning news from CrypticNews Hub 1. Biden: If health issues arise, he will consider withdrawing from the elections; 2. Biden has tested positive for the new coronavirus, increasing the likelihood of his withdrawal from the elections to 65% according to Polymarket; 3. Launch of 9 #Ethereum spot ETFs announced; 4. The U.S. Securities and Exchange Commission has approved document 19b-4 for the Ethereum spot mini ETF by Grayscale. 5. Market News: American financial giant State Street explores creating stablecoins and deposit tokens; 6. StarkWare launches OP_CAT technology in Bitcoin's Signet test environment; 7. Data leak incident at Fractal ID affects Gnosis Pay and other cryptocurrency projects; 8. Grayscale: Market sentiment shifts due to expectations of a more favorable regulatory environment; 9. Vitalik Buterin opposes basing political voting on whether to "support cryptocurrency"; 10. CryptoQuant: Bitcoin's rise may be restrained by the market capitalization of stablecoins.

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santiment: The number of Bitcoin holders (all wallets with coins >0) is aggressively declining, as traders still seem to believe that the March ATH was as good as it could get in 2024. When we see such mass liquidations, the likelihood of a continuation bounce only increases.

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GLASSNODE: Recently, institutional-grade custodians and ETFs have entered the stage. A total of 11 new spot ETFs in the US have accumulated +887,000 BTC, making their combined balance the second largest pool of #Bitcoin that we track. 🟡 Centralized exchanges: 3M BTC ⚪️ US ETF balance: 887k BTC 🔵 Miners, including Satoshi: 705k BTC 🟢 Government institutions: 207k BTC 🔴 Mt. Gox trustee: 139k BTC

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2) Perhaps not a large amount yet, but the growth trend deserves attention.

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1) Stablecoins have started flowing into the market. Their market capitalization has been increasing since the beginning of July and reached an all-time high last week. USDT accounts for 70% of the total market capitalization.

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