In a significant development this week, Bitcoin price has crossed bearish on the weekly LMACD (Logarithmic Moving Average Convergence Divergence), marking the first time this has occurred in 2023. Does this mean further decline for BTCUSD, or do bulls still have a chance to save the recent uptrend? Bitcoin Momentum Takes A Turn For The…
Bitcoin (BTC) and other cryptocurrencies have taken a hit in the wake of recent news regarding Binance, the world’s largest cryptocurrency exchange by trading volume. The market has reacted with concern to the disclosure of a complaint against the exchange, which has sparked a wider downtrend throughout the cryptocurrency industry. As of this writing, Bitcoin…
The Bitcoin Ordinals protocol developers have introduced a new upgrade to rectify over 71,000 invalid inscriptions previously untradeable. These inscriptions often result from incorrect usage and were rendered useless and untradeable until now. However, with this recent development, developers have taken the first step toward addressing this long-standing problem. Developers Unleased the New Ordinals Protocol…
Data from Glassnode shows that the current Bitcoin price is where the cost basis of a large number of coins lies. Here’s what this means. 780,000 BTC Was Acquired Near The Current Spot Prices According to data from the on-chain analytics firm Glassnode, 4.6% of the entire circulating Bitcoin supply has its acquisition price near…
Bitcoin price is struggling to clear the $27,500 resistance zone. BTC is sliding and there could be a sharp decline toward $25,550 in the coming sessions. Bitcoin is still struggling to stay above the $27,000 support zone. The price is trading below $27,200 and the 100 hourly Simple moving average. There was a break below…
Bitcoin, the world’s most valuable cryptocurrency, is going green, and the pace at which the network has reduced its carbon emissions in the past three years has been noted by climate activists. Nonetheless, how this could impact BTC prices and attract technology firms like Tesla, the electric automobile manufacturer, is yet to be seen. Carbon…
In his latest report titled “Crypto Outlook, June 2023,” Bloomberg’s Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin (BTC) and the broader cryptocurrency market. McGlone argues that despite a rebound in prices in 2023, the risks for the Bloomberg Galaxy Crypto Index remain tilted downward. Is Bitcoin Doomed? According to McGlone, cryptocurrencies…
Here are the pricing model lines that Bitcoin might have to stay above if the bullish momentum of the cryptocurrency has to continue. These Bitcoin Pricing Models Are Currently Near The Spot Price In a new tweet, the on-chain analytics firm Glassnode has pointed out how the three pricing models, the adjusted realized price, the…
In a recent post, Ripple CTO, David Schwartz, explained Automated Market Makers (AMMs) – a vital component in the decentralized finance (DeFi) framework, and their trading strategies for profit. Schwartz states that AMMs thrive when an asset is volatile but does not change its price direction much. Schwartz explained further that an asset whose volatility…
Bitcoin is recording minor profits on higher timeframes but has been unable to display significant price action. In this context, volatility is reaching a record low, but the status quo could suddenly shift in the short term. As of this writing, Bitcoin trades at $27,100 with sideways movement in the last 24 hours. In the…