Bitcoin price is nowhere near setting new all-time highs, but an important long-term price average is doing so, day after day, month after month. What is this moving average being referenced, and what does it setting new highs potentially mean? The 50-month moving average at the highest point ever| BTCUSD on TradingView.com Meet The Moving…
In a recent development, MicroStrategy, a US-based software firm, has announced intentions to raise about $750 million through stock sales. According to the platform, which is currently one of the biggest corporate holders of Bitcoin, proceeds realized from the sale will be used to purchase more Bitcoin. More BTC For MicroStrategy? In a filing with…
Data shows that Bitcoin funding rates have risen to the greenest levels since February 2023, something that could increase the risk of a long squeeze. Bitcoin Funding Rates Are At Highest Levels Since February As pointed out by an analyst in a CryptoQuant post, longs have accumulated in the market recently. The “funding rates” is…
Bitcoin, the pioneering cryptocurrency, is currently exhibiting mixed market signals, according to the latest data from Glassnode. The analytics firm points out that Bitcoin addresses in loss have reached a one-month high, even as the count of addresses holding smaller balances of the coin marks a record high. The contrasting trends paint an intriguing picture…
BlackRock officially announced its entrance into Bitcoin earlier this year by filing for a Spot Bitcoin ETF with the United States Securities and Exchange Commission (SEC). Although the regulator is yet to accept the filing, CEO Larry Fink has also made some supportive comments, comparing BTC to digital gold. In light of these events, Galaxy…
The CEO of Lightspark, David Marcus, has come forward to share his experiences on building atop the Bitcoin Lightning Network. Marcus noted the challenges the Lightning Network held for builders, stating that it was incredibly difficult and complex to develop software around the protocol. The Bitcoin Lightning Network And The Challenges It Holds for Builders…
Bitcoin has plunged below the $29,000 level during the past day. According to on-chain data, here’s the next level that could act as major support. Bitcoin Short-Term Holder Realized Price May Be The Next Support Level As pointed out by an analyst in a CryptoQuant post, the realized price of the short-term holders at $28,000…
In his recent report, Charles Edward, a prominent crypto market analyst, released an update on the state of the Bitcoin (BTC) market. The report highlights the continuation of the downtrend for Bitcoin, which has been losing its key support, the 50-day Moving Average (MA). The bearish trend has been confirmed by technical indicators and the…
Last week, the 1W Bollinger Bands in Bitcoin reached its tightest level ever. The volatility measuring tool typically doesn’t give any indication of direction, however. Using historical data, we’ve taken all previous instances of extreme lows and the resulting direction — up and down — and discovered the success rate of the signal. Bollinger Band…
Bitcoin (BTC) has been trading in a tight range for quite some time now, with bulls and bears engaged in a tug-of-war over key support and resistance levels. The recent move above $29,500 has provided some hope for the bulls, but so far, they have been unable to gather enough momentum to push prices higher.…