Bitcoin recently gave a bearish signal, which ultimately failed to produce a meaningful pullback. Due to the technical failure, historical data suggests that in only a matter of a month BTCUSD could set a new all-time high and reach a target of $85K per coin. Here’s why. Why Failed Bearish Technicals Produce Bullish Breakouts In…
In a recently published report by CoinShares, analyst James Butterfill delves into the relationship between inflows into Bitcoin exchange-traded funds (ETFs) and changes in the Bitcoin price. The report addresses the critical question of how much inflow into ETFs could be anticipated upon launching a Bitcoin spot ETF in the US and the potential impact…
The Bitcoin price rally is losing strength as the cryptocurrency returns to its support levels following weeks of bullish momentum. In the short term, the landscape seems sloped to the downside, but an analyst presented the main reasons why the rally has just begun. As of this writing, Bitcoin (BTC) trades at $36,550 with a…
Despite a larger portion of Bitcoin’s total supply being “inactive” for over a year, recent data revealed impressive growth in investors holding on to their BTCs during the rally. Bitcoin HODLing Yawns For Growth With Lesser Supply On Wednesday, November 15, a crypto analyst known as Root took to his official X (formerly Twitter) handle…
An apparent increase in demand for safe-haven assets, rising interest in Bitcoin ETFs in the US, and anticipation of a more accommodating position from the Federal Reserve were the purported drivers of the cryptocurrency market’s recovery this year, which led to a significant gain in the value of Bitcoin. While the spot and futures markets…
Bitcoin price again failed to clear the $38,000 resistance zone. BTC is likely forming a double top and might decline toward the $34,500 support. Bitcoin started a fresh decline from the $38,000 resistance zone. The price is trading below $36,750 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming…
The Bitcoin open interest can often be an indication of where the BTC price might be headed next depending on whether or not the metric is rising or falling. This time around, the Bitcoin open interest has risen drastically, hitting 19-month highs in the process. Using historical data, it is possible to extrapolate what this…
Those burned by the last big Bitcoin bull run are rightfully skeptical that another one is here so soon. However, a trend strength indicator is now confirming the existence of a new bullish trend emerging. Are bulls finally back in control over crypto? Sidelined investors and traders will want to pay attention. How Technicals Could…
On-chain data shows the Bitcoin Network Value to Transactions (NVT) ratio is above the bear zone, implying the recent price growth might have been healthy. Bitcoin NVT Ratio Has Remained Outside Red Since October According to data from the on-chain analytics firm Santiment, the NVT ratio has seen a significant improvement recently. The relevant indicator…
Cathie Wood, CEO of Ark Invest, has reiterated her bullishness on the crypto industry. In a recent interview with CNBC’s “Squawk Box,” Cathie Wood argued that the crypto industry is poised to reach a $25 trillion valuation, given a regulatory breakthrough in the US. Out of the multitude of digital assets on the market right…