• bitcoinBitcoin (BTC) $ 105,888.00
  • ethereumEthereum (ETH) $ 2,550.36
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.17
  • bnbBNB (BNB) $ 648.33
  • solanaSolana (SOL) $ 147.41
  • usd-coinUSDC (USDC) $ 0.999799
  • tronTRON (TRX) $ 0.274400
  • dogecoinDogecoin (DOGE) $ 0.170057
  • staked-etherLido Staked Ether (STETH) $ 2,549.62
  • cardanoCardano (ADA) $ 0.600864
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 105,714.00
  • hyperliquidHyperliquid (HYPE) $ 37.22
  • wrapped-stethWrapped stETH (WSTETH) $ 3,073.43
  • bitcoin-cashBitcoin Cash (BCH) $ 490.62
  • suiSui (SUI) $ 2.83
  • chainlinkChainlink (LINK) $ 13.11
  • leo-tokenLEO Token (LEO) $ 8.95
  • stellarStellar (XLM) $ 0.249440
  • avalanche-2Avalanche (AVAX) $ 18.18
  • the-open-networkToncoin (TON) $ 2.97
  • whitebitWhiteBIT Coin (WBT) $ 49.61
  • usdsUSDS (USDS) $ 0.999789
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • wethWETH (WETH) $ 2,550.52
  • wrapped-eethWrapped eETH (WEETH) $ 2,728.73
  • litecoinLitecoin (LTC) $ 85.41
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999654
  • hedera-hashgraphHedera (HBAR) $ 0.148610
  • moneroMonero (XMR) $ 317.10
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • polkadotPolkadot (DOT) $ 3.53
  • bitget-tokenBitget Token (BGB) $ 4.32
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 105,871.00
  • uniswapUniswap (UNI) $ 7.77
  • pepePepe (PEPE) $ 0.000010
  • pi-networkPi Network (PI) $ 0.539372
  • aaveAave (AAVE) $ 260.46
  • daiDai (DAI) $ 0.999572
  • okbOKB (OKB) $ 53.78
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • bittensorBittensor (TAO) $ 353.81
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • aptosAptos (APT) $ 4.42
  • crypto-com-chainCronos (CRO) $ 0.090974
  • internet-computerInternet Computer (ICP) $ 5.08
  • nearNEAR Protocol (NEAR) $ 2.17
  • jito-staked-solJito Staked SOL (JITOSOL) $ 178.54
  • susdssUSDS (SUSDS) $ 1.06
  • ethereum-classicEthereum Classic (ETC) $ 16.76
  • ondo-financeOndo (ONDO) $ 0.771568
  • tokenize-xchangeTokenize Xchange (TKX) $ 29.04
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • mantleMantle (MNT) $ 0.627614
  • gatechain-tokenGate (GT) $ 16.83
  • fasttokenFasttoken (FTN) $ 4.44
  • vechainVeChain (VET) $ 0.021841
  • official-trumpOfficial Trump (TRUMP) $ 9.35
  • kaspaKaspa (KAS) $ 0.070825
  • cosmosCosmos Hub (ATOM) $ 4.05
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 105,567.00
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.688364
  • ethenaEthena (ENA) $ 0.288033
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.189975
  • skySky (SKY) $ 0.080106
  • render-tokenRender (RENDER) $ 3.19
  • filecoinFilecoin (FIL) $ 2.36
  • usdt0USDT0 (USDT0) $ 0.999658
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,550.82
  • worldcoin-wldWorldcoin (WLD) $ 0.934204
  • arbitrumArbitrum (ARB) $ 0.306051
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.40
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998289
  • algorandAlgorand (ALGO) $ 0.170261
  • quant-networkQuant (QNT) $ 100.76
  • usdtbUSDtb (USDTB) $ 0.999828
  • kucoin-sharesKuCoin (KCS) $ 11.12
  • binance-staked-solBinance Staked SOL (BNSOL) $ 156.08
  • spx6900SPX6900 (SPX) $ 1.34
  • nexoNEXO (NEXO) $ 1.21
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,902.85
  • jupiter-exchange-solanaJupiter (JUP) $ 0.404974
  • flare-networksFlare (FLR) $ 0.017555
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,671.07
  • kaiaKaia (KAIA) $ 0.199204
  • sei-networkSei (SEI) $ 0.205669
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.74
  • celestiaCelestia (TIA) $ 1.66
  • injective-protocolInjective (INJ) $ 11.45
  • bonkBonk (BONK) $ 0.000014
  • fartcoinFartcoin (FARTCOIN) $ 1.03
  • sonic-3Sonic (S) $ 0.321840
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999792
  • blockstackStacks (STX) $ 0.645604
  • optimismOptimism (OP) $ 0.571107
  • xdce-crowd-saleXDC Network (XDC) $ 0.058579
  • paypal-usdPayPal USD (PYUSD) $ 0.999859
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,727.28
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,674.82
  • newton-projectAB (AB) $ 0.014359
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 105,789.00
  • wbnbWrapped BNB (WBNB) $ 648.30
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 105,853.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,676.75
  • pax-goldPAX Gold (PAXG) $ 3,377.57
  • the-graphThe Graph (GRT) $ 0.084675
  • tether-goldTether Gold (XAUT) $ 3,362.83
  • clbtcclBTC (CLBTC) $ 106,843.00
  • vaultaVaulta (A) $ 0.515070
  • story-2Story (IP) $ 2.77
  • dogwifcoindogwifhat (WIF) $ 0.800271
  • curve-dao-tokenCurve DAO (CRV) $ 0.586323
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • immutable-xImmutable (IMX) $ 0.409456
  • jito-governance-tokenJito (JTO) $ 2.24
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 164.90
  • aerodrome-financeAerodrome Finance (AERO) $ 0.863898
  • flokiFLOKI (FLOKI) $ 0.000075
  • msolMarinade Staked SOL (MSOL) $ 191.95
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,751.53
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.23
  • ousgOUSG (OUSG) $ 111.48
  • lido-daoLido DAO (LDO) $ 0.775776
  • theta-tokenTheta Network (THETA) $ 0.693203
  • zcashZcash (ZEC) $ 41.86
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998585
  • ethereum-name-serviceEthereum Name Service (ENS) $ 19.86
  • galaGALA (GALA) $ 0.014417
  • iotaIOTA (IOTA) $ 0.166291
  • bitcoin-svBitcoin SV (BSV) $ 32.03
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • pendlePendle (PENDLE) $ 3.86
  • the-sandboxThe Sandbox (SAND) $ 0.256962
  • usual-usdUsual USD (USD0) $ 0.997543
  • jasmycoinJasmyCoin (JASMY) $ 0.012556
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.009544
  • bittorrentBitTorrent (BTT) $ 0.00000061
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 105,555.00
  • walrus-2Walrus (WAL) $ 0.433851
  • pyth-networkPyth Network (PYTH) $ 0.099282
  • raydiumRaydium (RAY) $ 2.12
  • falcon-financeFalcon USD (USDF) $ 0.999851
  • tezosTezos (XTZ) $ 0.536458
  • super-oethSuper OETH (SUPEROETH) $ 2,548.12
  • tbtctBTC (TBTC) $ 105,424.00
  • coredaoorgCore (CORE) $ 0.551406
  • flowFlow (FLOW) $ 0.346763
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,549.59
  • saros-financeSaros (SAROS) $ 0.206721
  • wrapped-hypeWrapped HYPE (WHYPE) $ 37.27
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,678.81
  • syrupMaple Finance (SYRUP) $ 0.498272
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,723.40
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 105,818.00
  • apecoinApeCoin (APE) $ 0.633119
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,550.63
  • thorchainTHORChain (RUNE) $ 1.42
  • true-usdTrueUSD (TUSD) $ 0.998109
  • decentralandDecentraland (MANA) $ 0.256847
  • dexeDeXe (DEXE) $ 8.48
  • heliumHelium (HNT) $ 2.57
  • chain-2Onyxcoin (XCN) $ 0.013739
  • compound-governance-tokenCompound (COMP) $ 50.60
  • kavaKava (KAVA) $ 0.407751
  • beldexBeldex (BDX) $ 0.061441
  • staked-hypeStaked HYPE (STHYPE) $ 37.24
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.170037
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999798
  • based-brettBrett (BRETT) $ 0.043505
  • usddUSDD (USDD) $ 1.00
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,548.29
  • mimblewimblecoinMimbleWimbleCoin (MWC) $ 37.95
  • ripple-usdRipple USD (RLUSD) $ 0.999963
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • apenftAPENFT (NFT) $ 0.00000041
  • usdbUSDB (USDB) $ 0.996289
  • dydx-chaindYdX (DYDX) $ 0.509655
  • neoNEO (NEO) $ 5.66
  • elrond-erd-2MultiversX (EGLD) $ 13.85
  • morphoMorpho (MORPHO) $ 1.27
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • stader-ethxStader ETHx (ETHX) $ 2,711.52
  • ecasheCash (XEC) $ 0.000019
  • aioz-networkAIOZ Network (AIOZ) $ 0.325752
  • grassGrass (GRASS) $ 1.34
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006612
  • ether-fiEther.fi (ETHFI) $ 1.01
  • starknetStarknet (STRK) $ 0.113111
  • telcoinTelcoin (TEL) $ 0.004123
  • ketKet (KET) $ 0.374655
  • conflux-tokenConflux (CFX) $ 0.073362
  • eosEOS (EOS) $ 0.514001
  • axie-infinityAxie Infinity (AXS) $ 2.27
  • eigenlayerEigenlayer (EIGEN) $ 1.19
  • axelarAxelar (AXL) $ 0.372492
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,812.16
  • arweaveArweave (AR) $ 5.42
  • zebec-networkZebec Network (ZBCN) $ 0.004099
  • kaitoKAITO (KAITO) $ 1.44

Bitcoin Pulls Back to $107K, but NYDIG Analysis Suggests Market Far From Overheated

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Bitcoin Pulls Back to $107K, but NYDIG Analysis Suggests Market Far From Overheated

Wednesday morning U.S. hours saw a modest acceleration in crypto’s pullback from the recent big move higher, with bitcoin

BTC$107,282.94 stumbling nearly 2% to just above the $107,000 level.

Altcoins fared worse, with XRP

XRP$2.27, solana SOL$170.30 and dogecoin DOGE$0.21954 among those sporting declines in the 3%-5% range.

Among crypto-related stocks, the bitcoin miners were hardest hit, with MARA Holdings (MARA), Riot Platforms (RIOT) and Hut 8 (HUT) each lower by nearly 10%.

Bitcoin treasury companies were also showing sizable losses, led by GameStop (GME), down 11% after announcing the purchase of just over 4,710 bitcoin (or about $500 million at the current price) — to some a rather underwhelming amount considering the company raised $1.3 billion for bitcoin acquisition several weeks ago.

Cycle over?

Bitcoin’s roughly 50% rally from the post-early April bottom to a new record high of $112,000 last week has more than a few market participants suggesting 2021-like signs of froth.

Not so fast, said the research team at NYDIG.

First off, they note, bitcoin has rallied about 7X from the November 2022 low in the $15,000 area — a nice move for sure, but far behind peak-to-trough moves of 452X in 2013, 112X in 2017 and 20X in 2021. While bitcoin is a far more mature asset today than in the past and even a 20X move might seem a bit steep, the numbers still suggest a decent amount of further upside.

The team also looked at Market Value to Realized Value (MVRV), which compares the current total market cap of all bitcoins to their aggregated value based on the last time each coin moved. It’s current at 2.4X, far below prior peaks, including 2021’s top of 4.0X.

“While these are all just rough benchmarks, they suggest there’s still meaningful upside potential for bitcoin,” concluded NYDIG.

Source

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