The crypto market’s focus has shifted from price movements to on-chain dynamics, particularly the behavior of new and long-term holders. In a post titled “UTXO Age Band Analysis: Sluggish Inflow of New Investors May Limit Bitcoin’s Upside,” on-chain analyst Avocado Onchain, on CryptoQuant’s QuickTake platform, analysed Unspent Transaction Output (UTXO) data to assess investor trends at this cycle stage.

His findings show that although older coins are being sold, the inflow of new investors remains low. This factor has historically limited momentum during previous cycles. The UTXO age distribution reveals that a significant portion of the BTC supply is held by those who have kept their assets for more than six months. This suggests that many market participants are still in the mid- to long-term holding category.

However, despite Bitcoin reaching new highs, the percentage of UTXOs held by investors with a holding period of less than one month remains well below the historical threshold seen near previous market tops. Avocado Onchain warns that without a notable increase in participation from new investors, the market may struggle to maintain upward momentum.

Large-scale accumulation continues in the background, despite lack of retail inflows. CryptoQuant recently highlighted that Bitcoin addresses holding between 1,000 and 10,000 BTC, excluding exchanges and miners, have been steadily increasing. These entities are often associated with institutional investors or long-term strategic holders, and their accumulation is often interpreted as signaling confidence in BTC’s long-term prospects.

While retail remains largely inactive, institutional behavior may serve as a basis for price support. The current dynamics reflect a market in a transitional phase, with potential for upside if broader participation begins to increase.

The post Bitcoin’s Momentum Slows Down: Take a Look at the Chart that Tells the Story appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The price of XRP recently initiated an upward trend surpassing the $2.550 zone and is currently trading above $2.50, backed by the 100-hourly Simple Moving Average. However, there was a disruption below a significant bullish trend line with a support level around $2.550 on the hourly chart of XRP/USD pair, according to data from Kraken.

The pair could potentially initiate another surge if it remains above the $2.480 support level. Like Bitcoin and Ethereum, XRP price has found support above the $2.420 zone and began a fresh rally. Prices surpassed both $2.50 and $2.550 levels.

Bulls propelled the price past the $2.60 resistance zone, ultimately testing the $2.650 mark. Even though the price experienced a pullback, it still trades above $2.50 and the 100-hourly Simple Moving Average.

Resistance may be faced around the $2.550 level with the first key resistance near the $2.580 level. An unimpeded move above the $2.60 resistance could send the price towards the $2.650 resistance. Further gains could potentially push the price towards $2.720 or even $2.750 levels in the short term. The next substantial barrier for the bulls might be $2.880.

If XRP fails to breach the $2.580 resistance zone, another downward trend could ensue. The initial support on the downside lies near the $2.510 level and the 61.8% Fibonacci retracement level of the upward trend from the $2.4220 low to the $2.650 high. Major support lies around the $2.480 mark.

A break and close below the $2.480 level might lead to a continued decline towards the $2.450 support level. The next key support area is near the $2.420 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is gradually losing strength in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently below the 50 mark.
Major Support Levels – $2.510 and $2.480.
Major Resistance Levels – $2.60 and $2.650.

The post XRP Price Experiences Slight Retreat but Maintains Solid Support — Bullish Momentum Persists appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

According to NewsBTC, Powell sees direct listing happening if the firm’s valuation reaches about $20 billion. Moreover, he also believes that cryptocurrency firms could replace legacy companies over the coming ten years.

Coinbase, the leading U.S.-based cryptocurrency exchange and Kraken’s rival, is scheduled to go public via a direct listing on the Nasdaq stock exchange on April 14. The company has also recently published its results for Q1 and reported $335 billion in trading volumes. Coinbase chose direct listing instead of a more traditional initial public offering (IPO), and Kraken plans to follow suit next year.

In other news related to Kraken, the Tax Division of the U.S. Department of Justice has filed a request to the court to receive access to the information about Kraken’s customers. According to Decrypt, the regulator requested account data of American taxpayers. Those include individuals with at least $20,000 worth of crypto in their Kraken accounts in the period between 2016-2020. However, the judge asked for justification of this request.

The post Kraken is considering direct listing for 2022 appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.