Bitcoin’s price has rebounded from the correction that followed the new ATH and the asset is now trading close to $48000, well on track for price discovery beyond the ATH. As the price continues rallying, a total of $602 Million worth of Bitcoin short positions got liquidated in the aftermath of the Tesla news. If...Read More
While Ethereum Futures are making noise on the CME, Bitcoin Options have been rather quiet. This is interesting, especially since Bitcoin hit a new ATH after crossing $48,000 for the first time in its history, Elon Musk decided to watch what he says about Bitcoin, and Tesla bought $1.5 billion worth of Bitcoin. Additionally, Open...Read More
Bitcoin is trading close to $38000, and the break from the rangebound price level came as a relief earlier this week. On Tuesday, the price hit $37000 and trading beyond $35000 allowed Bitcoin’s price rally to break away from the resistance. As traders gear up to predict the impact of the current price trend on...Read More
Bitcoin’s price rallied to $37900 and as momentum built up, the asset was ready to cross $40000 with a 17.8% increase in a single day. However, a sell-off led to a price drop to $33000 level. As Bitcoin rallied there were metrics that offered buying opportunities and shorting opportunities throughout the rally, on the way...Read More
Bitcoin’s price correction in the ongoing rally was rather short-lived and the asset is back trading at the $32400 level based on data from CoinMarketCap. Though traders endured losses in the dip, and institutions continued buying, the dip was rewarding for altcoins as it changed the direction of investment flow. Against 100% wallets HODLing Bitcoin...Read More
Bitcoin’s price fell to $30,800 on Thursday, with echoes of Black Thursday sounding in a lot of people’s minds. This was the biggest price drop in 3 weeks and this may have been due to fears of double spending in Bitcoin, something that shook the faith of users. Though BitMEX confirmed that there was no...Read More
Bitcoin’s dominance is currently at 64.8% in comparison to 2017 in which its dominance was over 68%. The current crypto market cap is well distributed among top altcoins and stablecoins. After the price rallies in the current market cycle, nearly 100% of crypto wallet addresses are profitable. However, the same doesn’t hold true for altcoins...Read More
Ethereum’s price rally was in full swing, before the 5.9% drop in the past 24 hours. The price has dropped from the ATH and Ethereum is now trading at the $1300 level. Nearly all cryptocurrencies are bleeding currently, including Bitcoin, with a massive 24-hour price drop of 5.2%. This hasn’t affected the sentiment of retail traders...Read More
When the third halving took place on 11 May 2020, Bitcoin and Gold were correlated. Today, on the 12th day since Bitcoin hit a new ATH on the price charts, Bitcoin and Gold are uncorrelated. The reversal in the said correlation is incredible, but there is a historical precedent here too. After all, this is...Read More
The support of top payment giants like PayPal is promising for building the case of mainstream Bitcoin payments. However, Bitcoin’s rapidly increasing price in the USD poses a tough challenge for the adoption of Bitcoin denominated payment systems. A number of altcoins are rallying alongside Bitcoin, and making payments in cryptocurrencies may not be the...Read More
After an action-packed week, Bitcoin is trading at $35468 after having endured a flash crash. However, the price action left traders asking why the flash crash in Bitcoin took place? Also, does this mean the rally is over and it was over-extended? As per the data, there may have been excessive speculation in Bitcoin’s price,...Read More
The latest headlines are filled with posts about Bitcoin’s halving and its impact on Bitcoin’s price. These are popular facts and repeated several times as arguments for Bitcoin’s recent price rally. The repetition may have become so cruel, that memes on these facts are doing the rounds on Crypto Twitter. But the real question one...Read More
The dropping Bitcoin reserves led to the rally of 2021, breaking the previous ATH and hitting a new high above $41000 level. Bitcoin reserves started dropping in October 2020 and continued well into 2021. When the price crossed $30000, reserves increased to an extent before dropping again. Currently, as the price is above $38000, BTC...Read More
Institutional buying that started when Bitcoin’s price was as low as $19000 has continued well into the $40000 level. Institutions like Grayscale have consistently added to their Bitcoin holdings irrespective of the price rally and the subsequent correction. Based on data from the Coinbase chart, there is a possibility that institutional investors have bought $BTC...Read More
With the recent spike in Bitcoin’s price, its market capitalization is nearly 7% that of Gold. On-chain analysts and crypto influencers on Twitter have been calling for Gold Flippening and this could be the first step in that direction. Back in October 2020, when Bitcoin’s network momentum was increasing steadily, Bitcoin’s correlation with Gold was...Read More
As Bitcoin’s price rallies there are a few traders wishing for one last price drop so they can fill their bags. This isn’t what retail traders would conventionally ask for, but back in 2017, there were nearly 7 opportunities for buying more Bitcoin, before the price skyrocketed to the ATH. 2020 didn’t exactly see a...Read More
When the volatility in the cryptocurrency market is high enough to gain over 12% in price in 24 hours, there is a persistent fear of making mistakes. Bitcoin’s price chart has broken nearly all ceilings to hit the new ATH of $41780 on most top exchanges. While price discovery beyond the new ATH is yet...Read More
It’s been a good few weeks for the cryptocurrency market. On the back of Bitcoin climbing to one ATH after another and Ethereum going past $1000 on the price charts, the market hit yet another milestone today after the cumulative market cap of the industry hit the $1 trillion mark for the first time ever....Read More
Bitcoin breached its all-time-high earlier today, crossing $22,000 briefly, before dipping back down to levels around $21,800. It has now crossed $22,000 once more and was trading at $22,091 at the time of writing. Source: BTC/USD, TradingView The level of optimism around the world’s largest cryptocurrency was exceedingly high, as many in the crypto community...Read More
It’s been a good few weeks for Bitcoin, the world’s largest cryptocurrency. Not only did BTC climb to a new ATH recently, but it has also emerged to become the world’s fastest adopted asset. This was recently brought to light by a tweet authored by popular on-chain analyst Willy Woo. The tweet in question compared...Read More
As Bitcoin’s price hit a new ATH before closing in November 2020, it is the ideal time to check Bitcoin’s correlation with Gold and the impact on price. Bitcoin and Gold decoupled earlier in November 2020, based on data from skew. The quarterly gain posted by Bitcoin is 72% and the monthly gain is 35%....Read More
Bitcoin’s price crossed ATH on most exchanges on November 30, 2020 chasing after a high monthly close. Interestingly enough, @Danheld of Kraken has been asking traders to be patient and wait to get rewarded. In his recent tweet, he said there will be several dips in this cycle as well, and HODLing is the only...Read More
