A prominent cryptocurrency analyst, Bluntz, has expressed skepticism about the recent uptrend that increased Bitcoin and Ethereum prices by more than 5%. The pseudonymous analyst told his over 224,000 Twitter followers that the flagship crypto assets may face more downturns. Applying the Elliott Wave theory in his analysis, Bluntz predicted that Ethereum is about to…
Data shows that Bitcoin investors may be close to embracing greed as market sentiment has surged into neutral territory. Bitcoin Fear & Greed Index Points At Neutral Trader Sentiment The “Fear & Greed Index” is an indicator that tells us about the general sentiment among the investors in the Bitcoin and wider cryptocurrency sector. According…
In the intricate dance of global finance, traditional economic indicators and the burgeoning Bitcoin and crypto market are becoming increasingly intertwined. Recent macroeconomic data from the US suggests a cooling economy, and this could have profound implications for Bitcoin and other cryptocurrencies. Macro Data Snapshot: A Cooling US Economy Yesterday’s data release paint a clear…
Bitcoin price is correcting gains from $28,000. BTC could correct further lower toward the $26,800 zone before the bulls take a stand. Bitcoin started a downside correction from the $28,150 resistance zone. The price is trading above $26,600 and the 100 hourly Simple moving average. There is a declining channel forming with resistance near $27,250…
If the United States Securities and Exchange Commission (SEC) ends up approving a spot Bitcoin exchange-traded fund (ETF) anytime in the coming days or weeks, one expert is confident BTC prices will explode more than 6x to $185,000. As of August 30, BTC is changing hands below $30,000 but remains firm. Bitcoin To $185,000? In…
The crypto industry echoed the news of Grayscale Investments’ groundbreaking victory over the United States Securities and Exchange Commission (SEC) yesterday. This landmark lawsuit has established intriguing possibilities concerning approving a much-anticipated spot Bitcoin ETF product. A Win Bigger Than Just Approval? John Deaton, the renowned lawyer representing XRP holders, is among the voices adding…
Over the last couple of weeks, the Bitcoin open interest had been on a downtrend that sent it toward one-year lows. However, with the Grayscale victory against the SEC coming on Tuesday, August 29, and sending a positive wave across the entire region, open interest in the digital asset has begun to surge once more.…
The Bitcoin price is on the move as bulls take over the market and reclaim previously lost territory. While the rally signals potential, BTC still needs to overcome significant resistance at higher levels. As of this writing, Bitcoin (BTC) trades at $27,300 with a 5% profit in the last 24 hours. In the previous…
On-chain data suggests the $28,100 level could be the next major resistance to break for Bitcoin if history is anything to go by. Bitcoin Short-Term Holder Cost Basis Is Valued At $28,100 Currently As pointed out by an analyst in a CryptoQuant post, the BTC price has recently neared the short-term holders’ realized price. The…
Crypto asset manager Grayscale recently won against the Securities and Exchange Commission (SEC) in court, propelling gains in the price of Bitcoin in the past 24 hours. According to the case details, a US appeals court ruled on Tuesday, August 292r, that the SEC was wrong to reject an application from Grayscale to convert the…