Bitcoin had surged above $30,000 earlier during the past day but has since observed a retrace as profit-taking from traders has spiked. Bitcoin Profit-Taking Volume Is Currently More Than Twice The Loss-Taking One Bitcoin showed some promising signs of breaking away from its stagnation earlier during the past 24-hour period, as the cryptocurrency’s price managed…
Bitcoin price climbed above the $29,500 resistance. BTC spiked above $30,000 and is currently consolidating gains above a connecting trend line. Bitcoin is showing positive signs above the $29,500 pivot level. The price is trading above $29,550 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near…
Renowned analyst Josh Olszewicz has shared some compelling insights on Ethereum’s price trajectory. Drawing parallels from historical patterns, Olszewicz’s analysis suggests that Ethereum might be gearing up for a significant rally in the coming months. Historical Pattern: Ethereum Forms Ascending Triangle Olszewicz starts by highlighting Ethereum’s current price pattern, jokingly stating, “Ethereum: ascending triangle 450…
In the last 24 hours, Bitcoin has experienced a 2% surge, pulling the broader crypto market along with it into a bullish trajectory. Leading the charge among altcoins are PEPE with an 8% gain, followed closely by SHIB and HBAR both at 6.3%, TON at 5.6%, SNX at 5.4%, and SOL at 5.3%. The overall…
The cryptocurrency market has experienced a period of stagnation, with Bitcoin (BTC) trading within a narrow range for the past week. However, according to market analyst Ali Martinez, there is a glimmer of hope on the horizon as Open Interest, a key indicator of market sentiment, has skyrocketed to a year-to-date high. Correlation Between Open…
The Bitcoin price has experienced a slight uptick in the past 24 hours as bulls defended critical support. The number one cryptocurrency by market cap might try another run north of critical resistance, but recent data points towards further sideways price action. As of this writing, Bitcoin trades at $29,400 with a 2% profit in…
ARK Invest CEO Cathie Wood has sparked speculation with her recent prediction that the United States Securities and Exchange Commission (SEC) may potentially grant approval for multiple Spot Bitcoin exchange-traded funds (ETFs) simultaneously. Deviation From The Norm For Spot Bitcoin ETFs In a recent interview with Bloomberg on August 7, Cathie Wood shared her insight…
Bitcoin price has been ranging around $30,000 for most of 2023, taking even the highest timeframes down to a record low volatility state — something highly unusual for cryptocurrencies. As a result, Historical Volatility in the 6W BTCUSD chart has fallen to the second lowest ever reading. The last time this signal appeared, it awakened…
Since the Bitcoin bull market began, one discussion that has never left the crypto community is when the next bull rally will commence and if it would follow the previously established trend around the halving events. To this end, a crypto analyst, Lark Davis, has taken to X (formerly Twitter) to share his forecast around…
The latest weekly report from CoinShares reveals that crypto investment products, particularly Bitcoin funds, saw major outflows for the third consecutive week. As investors continue to take profit, a total of $107 million in outflows was recorded in the previous week. Crypto investment products listed in the report are from various exchange-traded product (ETP) providers,…