An analyst has explained that a Bitcoin price recovery may be highly likely based on this pattern forming in a metric. Bitcoin Coinbase Premium Gap Is Becoming Less Negative In a CryptoQuant Quicktake post, an analyst pointed out how the selling pressure on Coinbase has been diminishing recently. The relevant indicator here is the “Coinbase…
Previous speculation has resurfaced regarding one of the largest potential Bitcoin buy-ins in the history of cryptocurrency. According to crypto analyst Justin Verrengia, there are indications that Saudi Arabia and Qatar may be gearing up for an enormous Bitcoin purchase, with an official announcement anticipated in the coming week. Saudi Arabia, Qatar Rumored To Purchase…
In a surprising turn of events, the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) has not yielded the anticipated immediate upside impact on the Bitcoin price. Contrary to expectations within the crypto community, BTC has experienced a sharp drop of over 16% since the ETF approval on Wednesday, January 11, dipping below the key…
Bitcoin price is struggling to stay above $39,000 per coin and as it sinks lower, an ominous bearish technical signal is triggering. Bitcoin Selloff Prompts Possible Change In Momentum Selling pressure driven by FTX’s estate dumping nearly $1 billion in Grayscale GBTC shares caused Bitcoin price to lose the $39,000 level today, currently trading around…
The Bitcoin price has plummeted below the $39,000 mark, the lowest level since December 2. This significant drop can be attributed to three main factors that have collectively contributed to the current market sentiment and price action. #1 Selling Pressure From Grayscale’s GBTC Outflows The market has been heavily influenced by the continuous outflows from…
Bitcoin price extended its decline below the $40,000 support zone. BTC is consolidating losses and remains at risk of more downsides below $38,500. Bitcoin price is gaining bearish momentum below the $40,500 zone. The price is trading below $40,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with…
Bitcoin (BTC), the largest cryptocurrency in the market, has encountered a significant downturn following the waning hype around exchange-traded funds (ETFs), resulting in a 9% decline over the past fourteen days. However, Glassnode co-founders remain optimistic, asserting that the recent price corrections align with historical patterns and could propel Bitcoin to new heights, nearly doubling…
The Bitcoin price took a downside turn over the weekend and seems ready to re-test critical support levels. The downside price action was triggered by a spike in selling pressure following the approval of Bitcoin spot Exchange Traded Funds (ETFs) in the US. As of this writing, the Bitcoin price trades at $40,900 with a…
Bitcoin has been experiencing a downward trend recently, dropping from its 2023 all-time high of about $49,000 to below $41,000 at the time of writing. Despite this significant price correction, popular crypto analyst Kevin Svenson has predicted a new all-time high for BTC in the months after the 2024 Bitcoin halving. Bitcoin Anticipated To Hit…
On-chain data shows the Bitcoin Puell Multiple indicator is currently retesting a crucial level that may end up deciding the fate of the latest rally. Bitcoin Puell Multiple Is Now Retesting Its 365-Day Moving Average As explained by an analyst in a CryptoQuant Quicktake post, the interaction of the Puell Multiple with its 365-day moving…