“Even after the recent price rally, fundamental and technical indicators still point to a bear market environment,” said CryptoQuant. Bitcoin staged a brief relief rally above $74,000 on Thursday, but it has already petered out as analysts predict a persistent bear market will keep momentum subdued. “Bitcoin is still in a bear market despite the recent rally,” on-chain analytics company CryptoQuant said on Thursday. The platform’s Bull Score Index, a composite indicator that measures the overall health of Bitcoin (BTC) using a combination of fundamental and technical metrics, remains at 10 out of 100, “deep in bearish territory,” it said. Read more
Macroeconomist Lyn Alden says gold has a “somewhat euphoric” sentiment around it, while Bitcoin is being treated “somewhat unfairly negative.” Bitcoin is likely to outperform gold on price performance through to 2029 after gold’s strong recent rally, says macroeconomist Lyn Alden. “If I had to bet Bitcoin versus gold over the next two to three years, I would bet Bitcoin,” Alden said on the New Era Finance podcast on Wednesday. “Gun to my head, if I had to say which one I think outperforms, I would say Bitcoin,” she added. Read more
Bloomberg ETF analyst Eric Balchunas says Solana ETF inflows are posting “pretty impressive numbers,” even as the token has dropped by more than half since they launched. Exchange-traded funds tied to Solana have held on to their early inflows, despite the token having more than halved in price since the funds were launched, which analysts say indicates institutional resilience. Solana (SOL) is down 57% since Solana ETFs launched in the US in July, but the funds have managed to accumulate $1.5 billion in flows and “not really give any of it up,” Bloomberg ETF analyst Eric Balchunas said on Thursday. He added that 50% of the inflows to the ETFs are from institutional investors, which Balchunas called a “serious investor base” and a good sign for the future. Read more