Bitcoin prices have pushed higher over the weekend, continuing the rally that began with the new year. The asset has now notched up a 45% gain since its cycle low of $15,665 on November 22. However, there are mounting fears of a bull trap despite the rally still showing strength. A bull trap is a...Read More
The cryptocurrency rally this month was so robust that traders are looking out for the price bottom. Is the market there yet, or will bears take the prices back down to key optical support at $20K? Here are four new bullish indicators for the BTC price. Solid MA Crossover in New Bitcoin Addresses On-chain intelligence...Read More
Stocks and bonds got a nice lift in January out of fizzling inflation, strong consumer and job confidence, and hopes of lower interest rates. But the cryptocurrency spot exchange market absolutely surged on a Bitcoin price rally at the same time. The BTC price has recovered so dramatically since the start of the year that...Read More
Bitcoin’s rise within the past two weeks has made it one of the best-performing assets of the year, according to Bloomberg Intelligence. The firm’s senior macro strategist, Mike McGlone, compares the rally to a similar recovery in early 2019 – but in a macro environment of contracting liquidity. Is Bitcoin Back? In a post to...Read More
While the BTC price cratered over Alameda-FTX and Genesis-Gemini news, it decoupled from the S&P 500 Index and NASDAQ Composite. But after crypto exchange markets priced in the news, they were ready to rally with equities. Because of the Bitcoin stocks correlation, the price on crypto exchange markets moves in tandem with tech stocks like...Read More
Midway through January, crypto investors want to know why Bitcoin’s price spiked. Is it a dead cat bounce, a bull trap, or is the BTC bottom in soon, if not already past? Crypto analysts have offered a wide range of opinions. The Bitcoin price remained in reject territory through December. Sellers were parting with the...Read More
The Bitcoin Fear and Greed Index – a metric that determines the community’s general sentiment on the primary cryptocurrency – spiked to a state of “Neutral” for the first time in nearly nine months. The increase comes as a result of BTC’s positive start in 2023. At Last, out of the ‘Fear’ Zone The Bitcoin...Read More
The Bitcoin price has taken a battering over the past year. But at the same time, its volatility is at a historic low. Will BTC critics finally admit it’s a currency yet? Crypto markets are making a rebound in January, but there’s no certainty as to whether the bottom is in. Nearly all the major...Read More
There’s a crypto study out of South Korea recently of Chinese Bitcoin arbitrage traders and Korea’s “kimchi premium” on Bitcoin prices. Its characterization of the cross-border Bitcoin trade and recommendations miss some key economic foundations. A recently published crypto study by Incheon National University and the Bank of Korea is making the rounds. The authors...Read More
Glassnode released its first on-chain video report of 2023 on Tuesday, reviewing what could be data-based indicators of an emerging crypto bull market. The firm noted that both Bitcoin and Ether’s price and on-chain activity have seen little volatility since the year began – a period like others that have historically preceded “explosive market moves.”...Read More
Bitcoin has returned to $19,000 for the first time since October, soaring beyond its low trading range established after FTX’s collapse. The move has many on crypto twitter calling for a new bull market – though some believe it’s a bull trap. Bitcoin traded for $17,911 early on Thursday, experiencing some volatility after December’s CPI...Read More
Bitcoin and its brethren appear to be healing from the damage done by the FTX collapse and the contagions that followed. The asset hit an intraday and two-month high of $18,287 during the Thursday morning Asian trading session. BTC has now gained 10% over the past fortnight and is up 4.2% over the last 24...Read More
The consumer price index excluding food and energy (core CPI) numbers will be released by the United States government on Thursday, January 12. Although the most recent months saw a decline in the inflation rates compared to the peaks in the summer of 2022, the estimates still show a painful picture. Here Are the Expectations...Read More
With the turnover of the new year, Bitcoin price analyst predictions are out. Meanwhile, a survey of the damage from the protracted 2022 crypto winter shows 70K fewer BTC wallet addresses with $1 million USD worth of Bitcoin or more. It has now been over a year since Bitcoin’s (BTC) last all-time price high of...Read More
Erik Voorhees – CEO of ShapeShaft and an outspoken proponent of bitcoin – believes it could take between six months and three years before the next crypto bull run occurs. He also predicted that the primary cryptocurrency could surge to $40,000 by the summer, representing a 140% increase compared to current valuations. ‘It Won’t be...Read More
On-chain analysis indicates that Bitcoin market volatility is at its lowest ever period. Crypto analysts have been monitoring historical BTC volatility levels, and they have bottomed out. The last time volatility tanked to near current levels was in late 2018. This was a similar bear market to current conditions, with crypto prices falling for the...Read More
Valuations in the cryptocurrency market have dropped significantly from their all-time highs, with the total market capitalization losing around $2.2 trillion – a decline of around 73%. Many altcoins, including some from the large caps, have lost over 90% of their value since their all-time highs, and industry participants are scrambling to time the bottom....Read More
DataDash founder a veteran crypto analyst Nicholas Merten predicts more pain ahead for Bitcoin’s price based on a combination of technical indicators and macroeconomic pressures. The analyst referenced price charts for three different assets to back up his claim: BTC, ETH, and AAPL. Where Bitcoin’s Price Will Crumble In a video published on Wednesday, Merten...Read More
Crypto and Bitcoin markets are heading for a lull period if the on-chain activity is anything to go by. In its last weekly on-chain report for the year, analytics provider Glassnode reported that Bitcoin annualized realized volatility has been the lowest since October 2020. The metric matches similar low volatility levels at the previous cycle...Read More
BitMEX co-founder and renowned crypto essayist, Arthur Hayes, thinks the worst of this year’s Bitcoin bear market has come to pass. The former CEO believes the three major cohorts of forced Bitcoin sellers – trading firms, miners, and speculators – have already capitulated, marking the bottom of Bitcoin’s market cycle. How Bitcoin Gets Dumped As...Read More
Bitcoin and crypto markets are a full year into bear territory, and it has been about that time when the cycle bottom occurs. During the previous bear market, it came in December 2018, a year after the Bitcoin price peak. This time around, BTC has fallen 75% from its peak a year ago, and bottom...Read More
Bear markets always appear to be long, drawn-out affairs, but the steep downtrend only really lasts a year or so. The crypto industry hit its all-time high of just over $3 trillion in market capitalization in November 2021. Almost a year to the day later, on Nov. 22, they hit a cycle low of $820...Read More
Hash ribbons have just formed a death cross which has been a leading indicator for Bitcoin miner capitulation in previous cycles. Hash Ribbon indicators use simple daily moving averages to identify changes in hash rate trends. They are often used as a long-term signal to indicate macro bottoms on the Bitcoin price chart. A bearish...Read More
The cryptocurrency industry saw one of the most spectacular crashes of one of its giants earlier this month, which cast doubt over the entire market and investors’ perspectives on it. However, on-chain data shows that retail investors have continued accumulating bitcoin with enhanced appetite. Crabs and Shrimps Keep Buying Bitcoin shrimps, as categorized by Glassnode...Read More
Bitcoin’s price is struggling above the $16K mark, and it seems that more troubles might be coming. Data shows that miners might be having hard times, as their revenues are getting lower while the mining difficulty remains high. According to an analyst from the popular resource CryptoQuant, the current situation in regard to Bitcoin miners is similar...Read More
The past year or so has not been kind to the primary cryptocurrency, following many industry and macroeconomic adversities. Even though the asset has lost roughly 80% of its value since the all-time high last November, some estimations show that it could drop further, perhaps to the four-digit territory. It was approximately a year ago...Read More
JPMorgan’s team, led by Nikolaos Panigirtzoglou, predicted that the price of bitcoin could drop to $13,000 due to the turmoil following the FTX collapse. The cost to produce BTC has also fallen considerably, which could be another reason for the asset’s potential downfall. A Grim Forecast An analysis team of the Wall Street bank estimated...Read More
Despite the rally during the past couple of weeks, the cryptocurrency took a beating today. Bitcoin’s price plunged by more than 5%, dropping $20K. The total liquidations on a 24-hour scale have reached around $360 million. The recent rally brought hopes to many that the crypto winter might be coming to an end, but this...Read More
In its ‘week on-chain’ report on Oct. 31, analytics provider Glassnode made a number of comparisons between the current Bitcoin market cycle bottom and those from previous bear markets. Last week’s relief rally appears to have fizzled out with a double-top rejection, as reported by CryptoPotato yesterday. Glassnode stated that the market was “hammering out...Read More
Bitcoin tapped a weekend peak of $21,000 on Saturday, its highest price since September 13. Prices began moving mid-week, culminating in a 5% gain since the same time last week. However, that move appears to be breaking down as a clear double-top formation has been printed on the charts. The pattern has been identified by...Read More
