The market has been gearing up for volatility before the launch of spot ETH ETFs in the US today. While ETH’s price action has been relatively uninteresting in the past few weeks, it seems that large holders are expecting price swings and are rushing to cash out.

Glassnode’s data on realized profit for Ethereum holders shows a dramatic increase from $144.598 million on July 21 to $747.311 million on July 22. This is a significant spike and the highest realized profit in over 40 days.

Such a high spike warrants a detailed examination of wallet sizes and holding periods involved in the sell-off. Data shows that wallets holding between 10,000 and 100,000 ETH realized $626.982 million in profits on July 22, up from $35.744 million the previous day. This indicates that large holders, most likely institutional players or high-net-worth individuals, are cashing out ahead of the ETF launch.

Additionally, long-term holders were primarily responsible for the significant increase in realized profits. Profits from wallets holding ETH for over a year surged from $92.751 million to $666.227 million. This behavior aligns with a strategic move to lock in gains before potential market volatility associated with the ETF launch.

Analyzing realized profits by holding age, the most significant increase is seen in the 6 to 12-month holding age category, with realized profits jumping to $577.677 million from $3.964 million. This suggests that holders from mid-2023 are securing their profits.

The spike in realized profits highlights the market’s cautious approach to the anticipated changes with the advent of spot ETH ETFs. As trading heats up, we can expect more realized profits in the coming weeks. CryptoSlate previously reported that premarket trading of ETH ETFs has already generated significant interest, showing that the market is positioning itself for all of the potential opportunities and risks associated with the new ETFs.

It’s also possible that large and institutional Ethereum holders are realizing profits and reinvesting them into ETH ETFs instead of holding spot ETH directly. For institutional investors and high-net-worth individuals, ETFs’ regulatory oversight and transparency can reduce the risks associated with holding ETH directly. Another significant benefit is the simplified tax reporting associated with ETFs. In many jurisdictions, ETFs are treated more favorably for tax purposes than holding the underlying assets directly. This can translate into more efficient tax management for investors, especially with large asset volume sets.

Liquidity is another critical factor. ETFs are traded on traditional stock exchanges, which tend to offer better liquidity and easier transaction settlement. For large holders, the ability to quickly liquidate ETH positions without significantly impacting the market price could be a substantial advantage.

The post Large holders cashed out ahead of Ethereum ETF launch appeared first on CryptoSlate.

The post Large holders cashed out ahead of Ethereum ETF launch appeared first on Top Crypto Game.

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Timestamps
00:00 Bitcoin and Ethereum all time highs
01:35 Jay Clayton Warns of BTC Regulations
02:40 The Crypto Bull Case: JP Morgan, Citibank, Guggenheim
04:59 Ether to $2,500 based on Futures Trading?
06:21 Blockchain Banking with PointPay

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The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
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Monitoring liquidation levels is crucial during periods of price volatility, as they indicate where significant price movements can occur due to forced sell-offs or buy-ins. 

Tools like Coinglass’s liquidation heatmap are invaluable as they visually represent where the market holds large amounts of leveraged positions, identifying potential price points where forced liquidations will occur if the price reaches these levels.

Essentially, a liquidation heatmap acts as a strategic map, showing traders potential ‘hot zones’ where volatility is likely to increase due to the unwinding of leveraged positions. This allows them to make more informed decisions about entry and exit points and risk management and potentially capitalize on the resulting market movements.

Bitcoin saw a significant drop on May 1, losing the psychologically important support at $60,000 and dropping to as low as $56,500. As of press time, its price hovers around $57,000, causing widespread losses in the market and drastically impacting what was, until recently, a very bullish sentiment.

Bitcoin’s 12% drop caused $381.76 million in liquidations in the 24 hours preceding May 1, 15:30 UTC, with $307.92 million being longs. Its drop from $60,600 to $57,000 in 12 hours wiped out $177.36 million in longs.

CoinGlass’s liquidation heatmap showed $16 million in liquidation leverage at the $56,880 price point placed within the last 24 hours. This level represented the initial significant threshold—if BTC fell to this point, it could prompt the start of liquidations, potentially leading to increased selling pressure.

Between $56,750 and $56,620, we see higher leverages added at $22.31 million and $19.22 million, respectively. The proximity of these levels suggests that a drop through these thresholds could result in a compounding effect, where sequential liquidations at each level intensify the downward price movement.

However, the most significant point is the $56,490 level, with $34.04 million in liquidation leverage. Given the substantial amount of leverage involved, a drop to this level could act as a major catalyst for a sharper price decline.

Subsequent Levels ($56,360, $56,230, and $56,100), with liquidation leverages of $23.24 million, $19.52 million, and $19.37 million, respectively, further illustrate a densely packed area where each small drop in price might trigger additional sell-offs, contributing to a potential cascading effect in liquidations.

These levels show a stacked arrangement of potential triggers just below the current price, suggesting that a minor price decline could lead to a series of liquidations. Each level acts as a potential breakpoint where the price might either stabilize temporarily due to buying activity or continue to drop if selling pressure overwhelms. The concentration of liquidation points in a relatively narrow price range implies that the market could experience significant volatility if these levels are tested. 

Cumulatively, the amount of leverage across OKX, Binance, and Bybit over the past day comes to over $3.5 billion. The majority of the leverage is made up of short positions up to $63,380, with only around $5 million in leveraged longs.

The post Liquidation heatmap shows volatility ahead as Bitcoin drops to $57k appeared first on CryptoSlate.

The post Liquidation heatmap shows volatility ahead as Bitcoin drops to $57k appeared first on Top Crypto Game.

#bitcoin #ethereum #cryptocurrency

Hey E.T Fam! I hope everyone is doing well and not letting the current volatility that we’re experiencing worry you. Right now, the crypto market is going through a bit of a cool off. While this may cause fear in some newbies, I expect all of my veterans to remain unfazed. A cool off is to be expected after an epic run past the ATH. In an extreme bull cycle, earlier hodlers tend to take profits.

Your job is to not get shaken out of the market by falling for the hype. Plus, you all know that I’ve been warning everyone of a possible shakeout of the weak hands and over-leveraged traders. The #ETF bulls are still piling into the market. In fact, the BITO ETF broke records yesterday by becoming the fastest ETF ever to naturally get $1B. It only took them two days! Now it’s being reported that three more ETFs are possibly on the way. Billionaires like Peter Thiel are expressing regrets for underinvesting into BTC and more pension funds are starting to diversify into crypto.

Also, in regular crypto shenanigans news, Binance had a “flash crash” occur on its US platform that caused the price of Bitcoin to drop to $8k. Luckily, this only occurred on Binance.US…..but once again, this is just another case of Binance doing Binance things. Welcome to crypto everybody. E.T Fam, the things may seem erratic at the moment, but we’re still in good shape. The bull market is still in full effect!

0:00 A smooth sea never made a good sailor
1:06 BTC’s ‘scam wick’
3:42 Don’t operate on emotion
4:00 Explaining leverage
5:03 Liquidation cascades help BIG money
7:00 This is when things get hot
7:46 Expect VERY HIGH volatility
8:50 The market doesn’t reward buying green & selling red
9:36 High IQ take: have conviction
11:08 Bears + having perspective
13:00 Animoca brands valuation
14:32 Answering live questions
14:38 Will NFTs run before alts?
16:36 SuperFarm + Immutable X Announcement & walkthrough
20:09 First time Immutable X user walk through
22:25 Why this partnership is MASSIVE
24:02 Parallel raises $500m
25:19 Sushiswap liquidity efficiency
25:43 Answering live questions
28:08 Given $100k where would you invest crypto?
30:24 Prepare for massive shifts!

DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR

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