• bitcoinBitcoin (BTC) $ 120,158.00
  • ethereumEthereum (ETH) $ 3,016.83
  • xrpXRP (XRP) $ 2.95
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 691.16
  • solanaSolana (SOL) $ 162.47
  • usd-coinUSDC (USDC) $ 0.999810
  • dogecoinDogecoin (DOGE) $ 0.198049
  • tronTRON (TRX) $ 0.302664
  • staked-etherLido Staked Ether (STETH) $ 3,016.72
  • cardanoCardano (ADA) $ 0.735786
  • hyperliquidHyperliquid (HYPE) $ 47.37
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 119,838.00
  • stellarStellar (XLM) $ 0.452670
  • suiSui (SUI) $ 3.88
  • wrapped-stethWrapped stETH (WSTETH) $ 3,641.30
  • chainlinkChainlink (LINK) $ 15.85
  • bitcoin-cashBitcoin Cash (BCH) $ 505.56
  • hedera-hashgraphHedera (HBAR) $ 0.236249
  • avalanche-2Avalanche (AVAX) $ 21.35
  • leo-tokenLEO Token (LEO) $ 9.00
  • wrapped-eethWrapped eETH (WEETH) $ 3,232.16
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • the-open-networkToncoin (TON) $ 3.05
  • wethWETH (WETH) $ 3,018.38
  • litecoinLitecoin (LTC) $ 95.68
  • usdsUSDS (USDS) $ 0.999766
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999716
  • whitebitWhiteBIT Coin (WBT) $ 45.87
  • moneroMonero (XMR) $ 342.62
  • polkadotPolkadot (DOT) $ 3.96
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 120,125.00
  • uniswapUniswap (UNI) $ 9.18
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • bitget-tokenBitget Token (BGB) $ 4.45
  • pepePepe (PEPE) $ 0.000012
  • aaveAave (AAVE) $ 316.77
  • bittensorBittensor (TAO) $ 409.05
  • daiDai (DAI) $ 1.00
  • pi-networkPi Network (PI) $ 0.461871
  • crypto-com-chainCronos (CRO) $ 0.107501
  • aptosAptos (APT) $ 4.99
  • nearNEAR Protocol (NEAR) $ 2.60
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • ondo-financeOndo (ONDO) $ 0.924991
  • internet-computerInternet Computer (ICP) $ 5.43
  • okbOKB (OKB) $ 47.87
  • jito-staked-solJito Staked SOL (JITOSOL) $ 197.76
  • ethereum-classicEthereum Classic (ETC) $ 18.59
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • mantleMantle (MNT) $ 0.724726
  • algorandAlgorand (ALGO) $ 0.280192
  • kaspaKaspa (KAS) $ 0.085756
  • usd1-wlfiUSD1 (USD1) $ 0.999587
  • ethenaEthena (ENA) $ 0.338242
  • bonkBonk (BONK) $ 0.000027
  • vechainVeChain (VET) $ 0.024411
  • cosmosCosmos Hub (ATOM) $ 4.57
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.229702
  • arbitrumArbitrum (ARB) $ 0.405176
  • susdssUSDS (SUSDS) $ 1.06
  • pump-funPump.fun (PUMP) $ 0.005579
  • render-tokenRender (RENDER) $ 3.78
  • fasttokenFasttoken (FTN) $ 4.51
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.030332
  • official-trumpOfficial Trump (TRUMP) $ 9.43
  • gatechain-tokenGate (GT) $ 15.74
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.716678
  • sei-networkSei (SEI) $ 0.337018
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,016.46
  • worldcoin-wldWorldcoin (WLD) $ 1.05
  • filecoinFilecoin (FIL) $ 2.58
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 119,967.00
  • skySky (SKY) $ 0.076918
  • binance-staked-solBinance Staked SOL (BNSOL) $ 172.67
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.75
  • jupiter-exchange-solanaJupiter (JUP) $ 0.499009
  • kucoin-sharesKuCoin (KCS) $ 11.51
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998065
  • usdtbUSDtb (USDTB) $ 0.999742
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,165.02
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,437.69
  • spx6900SPX6900 (SPX) $ 1.52
  • usdt0USDT0 (USDT0) $ 1.00
  • celestiaCelestia (TIA) $ 1.88
  • fartcoinFartcoin (FARTCOIN) $ 1.31
  • nexoNEXO (NEXO) $ 1.31
  • story-2Story (IP) $ 4.33
  • xdce-crowd-saleXDC Network (XDC) $ 0.077814
  • blockstackStacks (STX) $ 0.796606
  • injective-protocolInjective (INJ) $ 12.43
  • flare-networksFlare (FLR) $ 0.017431
  • optimismOptimism (OP) $ 0.660436
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,239.02
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 119,837.00
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 3,171.26
  • sonic-3Sonic (S) $ 0.349270
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.70
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • dogwifcoindogwifhat (WIF) $ 1.02
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,179.40
  • immutable-xImmutable (IMX) $ 0.530960
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999604
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,260.76
  • the-graphThe Graph (GRT) $ 0.099442
  • curve-dao-tokenCurve DAO (CRV) $ 0.708886
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 119,950.00
  • pax-goldPAX Gold (PAXG) $ 3,350.00
  • clbtcclBTC (CLBTC) $ 121,068.00
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • flokiFLOKI (FLOKI) $ 0.000097
  • wbnbWrapped BNB (WBNB) $ 690.88
  • kaiaKaia (KAIA) $ 0.155647
  • paypal-usdPayPal USD (PYUSD) $ 0.999724
  • vaultaVaulta (A) $ 0.548926
  • iotaIOTA (IOTA) $ 0.221340
  • tokenize-xchangeTokenize Xchange (TKX) $ 10.53
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 182.79
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.40
  • tether-goldTether Gold (XAUT) $ 3,345.69
  • msolMarinade Staked SOL (MSOL) $ 212.60
  • theta-tokenTheta Network (THETA) $ 0.795000
  • jasmycoinJasmyCoin (JASMY) $ 0.016061
  • galaGALA (GALA) $ 0.017107
  • lido-daoLido DAO (LDO) $ 0.862264
  • the-sandboxThe Sandbox (SAND) $ 0.308503
  • ethereum-name-serviceEthereum Name Service (ENS) $ 22.70
  • raydiumRaydium (RAY) $ 2.81
  • memecoreMemeCore (M) $ 0.438271
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.75
  • aerodrome-financeAerodrome Finance (AERO) $ 0.832203
  • ousgOUSG (OUSG) $ 111.80
  • zcashZcash (ZEC) $ 43.58
  • bittorrentBitTorrent (BTT) $ 0.00000070
  • saros-financeSaros (SAROS) $ 0.260267
  • pyth-networkPyth Network (PYTH) $ 0.118592
  • chain-2Onyxcoin (XCN) $ 0.019860
  • super-oethSuper OETH (SUPEROETH) $ 3,016.48
  • tezosTezos (XTZ) $ 0.640958
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998508
  • pendlePendle (PENDLE) $ 4.02
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 3,236.21
  • jito-governance-tokenJito (JTO) $ 1.90
  • mog-coinMog Coin (MOG) $ 0.000002
  • wrapped-hypeWrapped HYPE (WHYPE) $ 47.34
  • tbtctBTC (TBTC) $ 119,954.00
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.08
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 3,143.93
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,016.10
  • flowFlow (FLOW) $ 0.388632
  • falcon-financeFalcon USD (USDF) $ 1.00
  • walrus-2Walrus (WAL) $ 0.431511
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 119,290.00
  • decentralandDecentraland (MANA) $ 0.310298
  • newton-projectAB (AB) $ 0.008742
  • usual-usdUsual USD (USD0) $ 0.997666
  • morphoMorpho (MORPHO) $ 1.83
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 119,996.00
  • coredaoorgCore (CORE) $ 0.552900
  • heliumHelium (HNT) $ 2.97
  • telcoinTelcoin (TEL) $ 0.005953
  • thorchainTHORChain (RUNE) $ 1.55
  • based-brettBrett (BRETT) $ 0.054888
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 3,018.38
  • bitcoin-svBitcoin SV (BSV) $ 26.44
  • staked-hypeStaked HYPE (STHYPE) $ 47.29
  • usddUSDD (USDD) $ 1.00
  • conflux-tokenConflux (CFX) $ 0.101571
  • ripple-usdRipple USD (RLUSD) $ 0.999705
  • apecoinApeCoin (APE) $ 0.646112
  • build-onBUILDon (B) $ 0.509824
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.197950
  • starknetStarknet (STRK) $ 0.137944
  • true-usdTrueUSD (TUSD) $ 0.999798
  • 1inch1inch (1INCH) $ 0.352850
  • syrupMaple Finance (SYRUP) $ 0.447629
  • stader-ethxStader ETHx (ETHX) $ 3,209.34
  • beldexBeldex (BDX) $ 0.065605
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008007
  • venomVenom (VENOM) $ 0.223639
  • kavaKava (KAVA) $ 0.429699
  • deepDeepBook (DEEP) $ 0.184533
  • compound-governance-tokenCompound (COMP) $ 48.97
  • dydx-chaindYdX (DYDX) $ 0.602907
  • aioz-networkAIOZ Network (AIOZ) $ 0.382542
  • arweaveArweave (AR) $ 6.91
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999810
  • neoNEO (NEO) $ 6.39
  • apenftAPENFT (NFT) $ 0.00000045
  • elrond-erd-2MultiversX (EGLD) $ 15.37
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,328.48
  • dexeDeXe (DEXE) $ 7.53
  • ether-fiEther.fi (ETHFI) $ 1.13
  • ecasheCash (XEC) $ 0.000021
  • turboTurbo (TURBO) $ 0.006049
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.32
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 120,042.00
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.004131
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • usdbUSDB (USDB) $ 1.01

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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