Crypto market capitalization has topped $2.5 trillion for the first time since late July as Bitcoin powers towards $70,000, but will this week’s economic reports propel it further? Additionally, the United States presidential election is just two weeks away, “which should begin to bring more volatility,” commented the Kobeissi Letter. Economic Events Oct. 21 to...Read More
Historical data shows bitcoin (BTC) performing well in the fourth quarters of previous bull cycles, especially in halving years. Current on-chain data indicates that the leading cryptocurrency is following previous patterns and is on track to another remarkable Q4. A report by the market analytics platform CryptoQuant revealed that bitcoin’s price rally in the coming...Read More
With bitcoin (BTC) surging above $60,000 since the beginning of the week, investors have become greedy. This is evident in the Fear and Greed Index, which depicts market sentiment at any given time, turning green in the last two days. Data from Alternative.me shows that the Fear and Greed Index is in the greed zone,...Read More
On Oct. 17, om-chain analytics platform Santiment reported that Bitcoin whale transactions have spiked to their highest level in over ten weeks. There were 11,697 transfers worth more than $100,000 on Oct. 15 and the 16th was also shaping up to be a high day for whale activity. The platform also noted that social media...Read More
Elon Musk’s Tesla has moved almost its entire stash of 11,500 BTC worth around $760 million, according to Arkham Intelligence. There were 26 transactions in total on Oct. 15 to various w9allet addresses, it revealed. The Tesla holdings had been dormant for two years up until these latest transactions. The wallet balance is now zero,...Read More
Bitcoin on-chain metrics are flashing bullish signals. The cryptocurrency’s open interest just hit an all-time high, and demand is growing at a fast monthly pace. Data from market intelligence platform CryptoQuant shows that bitcoin’s open interest has reached a record high of $19.8 billion. Pseudonymous analyst EgyHash said this points to a bullish sentiment among...Read More
Bitcoin prices reached $66,500 during late trading on Oct. 14, according to CoinGecko. It is the highest level since late September when it hit a similar price but was rejected at resistance. The asset seems to be behaving similarly again, with resistance forcing a retrace to $65,400 during Tuesday morning trading in Asia. Analyst ‘CrediBULL...Read More
Will crypto markets experience another week of low volatility and inactivity, or is Bitcoin about to break out and kick off “Uptober”? On Oct. 14, analyst CrypNuevo told his 117,000 X followers that the week ahead should be good for price action. “We’ve seen aggressive moves in both directions, and they are being retraced,” he...Read More
Crypto markets have remained tightly range-bound over the weekend, with volatility declining, but that may be about to change. Retail sales and manufacturing reports are released this week. These are often used as indicators of economic conditions and potential changes in inflationary trends. “We now have the Fed, election, geopolitical tensions, and earnings in the spotlight,” commented...Read More
This week, bitcoin (BTC) touched a price height of $64,000 before retracing its steps to a current price mark below $62,000. This price downtrend begs the question – will the leading crypto asset unlock new heights in the near term? A CryptoQuant analyst has shared research showing what could enable the leading crypto asset to...Read More
Stablecoin dynamics are flashing positive, reaching record highs and boosting liquidity within the crypto market. As historical data shows, this is good news for bitcoin (BTC) and the entire crypto industry because more liquidity often correlates with higher prices. A recent CryptoQuant report revealed that the total market capitalization of major USD-backed stablecoins now stands...Read More
Veteran commodity trader Peter Brandt has suggested that the price of Bitcoin (BTC) could drop by as much as 75%. The 77-year-old based his warning on the observation that in the past, Bitcoin experienced major corrections whenever it failed to reach a new all-time high (ATH) within 30 weeks of its previous peak. Could Historical...Read More
Around 18,800 Bitcoin options contracts will be expiring on Friday, Oct. 11, with a notional value of around $1.1 billion. Today’s options expiry is very similar to last week’s as implied volatility declines, and expiry events are now smaller. Therefore, it is unlikely to impact spot markets, which have been retreating this week. Bitcoin Options...Read More
Tokyo-listed Bitcoin holder Metaplanet has purchased an additional 108.786 Bitcoin for 1 billion yen, reflecting its ongoing bullish stance on the crypto asset. The latest stash is worth around $6.7 million. Metaplanet Expands Bitcoin Holdings According to the official statement released on Monday, Metaplanet – often referred to as Japan’s MicroStrategy – now holds 639.503...Read More
Crypto markets gained over the weekend and are holding on to momentum in early Monday trading in Asia. This week’s raft of economic and inflation reports could give them a further boost, especially if the probability of another large rate cut increases. “A November 50 basis point rate cut was almost entirely priced out last...Read More
Bitcoin (BTC) usually performs well in the fourth quarter of bull cycle years, especially after halving events. CryptoQuant analysts say this year will be no different; however, things are not adding up. According to a CryptoQuant report, Bitcoin’s apparent demand growth is still slow, and it will need to grow at faster rates to propel...Read More
Approximately 17,400 Bitcoin options contracts are due for expiry on Friday, Oct. 4. These contracts have a notional value of around $1 billion. Today’s options expiry is much smaller than last week’s mammoth end-of-the-month and end-of-the-quarter event, so it is unlikely to impact spot markets, which have been retreating this week. Bitcoin Options Expiry This...Read More
Bitcoin (BTC) faces the risk of falling below its current level of $60,000 in the coming hours due to escalating geopolitical tensions in the Middle East. Analysts at British multinational bank Standard Chartered said in a note accessed by The Block that the chances of BTC declining further are high; however, investors should consider the...Read More
Bitcoin climbed past $61,400 on Wednesday after taking a major tumble amid escalating conflict in the Middle East, dampening expectations for an October rally. Analysts now suggest that Bitcoin’s attempt to reclaim its all-time high near $74,000 could take longer than anticipated. October’s Rocky Start For Bitcoin Prominent Bitcoin analyst Willy Woo said that Bitcoin’s...Read More
Bitcoin prices dumped almost $4,000 in less than 24 hours following an Iranian missile strike on Israel late on Oct. 1. The asset was trading at just over $64,000 on Tuesday but it tanked hard to bottom out at a little above $60,000 following the attack. BTC has since recovered to around $61,700 during Wednesday...Read More
The past week has been positive for bitcoin (BTC), with the asset breaking through its August 25 local top of $65,200 after multiple previous rejections. While BTC is currently trading below the $65,000 range and could record more gains, analysts say there are warning signs. According to a Bitfinex report, there is a lack of...Read More
September is often dubbed ‘Slumptember’ as Bitcoin and crypto assets have historically recorded losses during this month with the odd exception. However, this September ended with the best performance, as noted by analyst Rekt Capital on Sept. 30. He reported that BTC increased by 7.75% in September, beating its previous record of 6% in 2016....Read More
Bitcoin appears to have defied the historical trend of negative return for September, with almost 9% in gains for the month. At the time of writing, Bitcoin is trading above $64,000. As such, experts are now betting on a more favourable market conditions and a continued bullish trend for the world’s leading crypto asset. Room...Read More
On September 27, bitcoin (BTC) reclaimed a trading price of $66,500 for the first time since late July. This surge was accompanied by bullish sentiments from many investors. Instead of going higher, the leading crypto asset has tanked below $64,000 at press time. Blockchain market intelligence platform Santiment shares insight into a possible reason behind...Read More
Crypto markets were retreating heavily during early Monday morning trading in Asia, how low they go may be influenced by this week’s economic events. There are eleven Federal Reserve speaker events this week and a raft of economic data that could set the scene for the final quarter as Q3 comes to a close. Economic...Read More
Bitcoin’s correlation with Wall Street has been climbing for the past several months and, earlier this week, hit a multi-year peak. This comes at an intriguing time since a few of the largest and most prominent US stock market indexes charted new all-time highs this week. BTC-Wall Street Correction Rises The Fed’s interest rate cut...Read More
Around 89,000 Bitcoin options contracts are due for expiry on Friday, Sept. 27. These BTC derivatives have a notional value of around $5.8 billion. Today’s options expiry is a whopper due to the end of the month and the end of the third quarter, so it could impact spot markets, which have been on the...Read More
Bitcoin’s price has been on a positive trend for the past week but it has unsuccessfully challenged the $65,000 level a few times. According to on-chain data, BTC whales have been offloading a lot of their holdings lately, which could suggest more trouble on the horizon if they continue. #Bitcoin whales sold over 20,000 $BTC...Read More
Bitcoin’s correlation with one of the oldest and arguably the safest investment instruments, gold, has risen to a five-month peak, according to data from IntoTheBlock. At the same time, Ethereum’s numbers point to precisely the opposite, even though ETH is supposed to be ultra-sound money following some of its updates in the past few years....Read More
On Sept. 25, the founder of Lyn Alden Investment Strategy announced that her recently commissioned research paper has measured global money creation relative to other asset classes. Alden’s paper revealed that bitcoin moves in the direction of global money supply (M2) 83% of the time and more than other assets. Bitcoin has demonstrated a strong...Read More
