Weekly Onchain Insights: Market Swing

The IntoTheBlock newsletter highlights weekly interesting data points about the crypto markets.

Every week the IntoTheBlock team publishes a newsletter that summarizes key data insights about the crypto market. Below is a quick summary.

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From the Editor

Hey onchainers,

Welcome back to the 6th edition of IntoTheBlock’s newsletter. We have created a different type of newsletter for crypto fans that is not about news, but about data and analytics. Every week, we deliver valuable data insights about the crypto market.

According to our trusted partner, CoinMarketCap, the total reported exchange volume of BTC yesterday was of $56.426.509.501. IntoTheBlock’s estimates that the ratio of volume reported by exchanges to the onchain volume was a whopping 7.3X yesterday

BTC Price Analysis: Can he make it to 7000? Bitcoin price went up over 25% yesterday, and using our In/Out of the Money Around Current Price indicator (IOMAP), we see that there’s a minor level of resistance between $6,500 and $6,950, where 715 thousand addresses bought 363k BTC. The biggest level of resistance is between…