Bitcoin is gaining bullish momentum above $24,500 against the US Dollar. BTC could gain bullish momentum if it clears the $25,000 resistance zone. Bitcoin started a fresh increase above the $24,200 resistance zone. The price is now trading above the $24,000 level and the 100 hourly simple moving average. There is a key bullish trend…
Bitcoin NUPL data suggests that the crypto’s cycles are getting less sharper with time as profit tops and loss bottoms aren’t following a horizontal line. Bitcoin NUPL Didn’t Exceed The 0.75 “Greed” Mark During This Cycle As explained by an analyst in a CryptoQuant post, the BTC profit and loss cycles shouldn’t be treated with…
On-chain data shows Bitcoin exchange inflows from whales holding between 1k to 10k BTC have spiked up recently, a sign that can be bearish for the price of the crypto. Bitcoin Exchange Inflows Spike Up Following Rally Above $24k As pointed out by a CryptoQuant post, the BTC whales with between 1k to 10k BTC…
Bitcoin traded close to $25,000 before it corrected lower against the US Dollar. BTC must stay above the $23,500 support to start another increase. Bitcoin started a fresh increase above the $24,000 resistance zone. The price is now trading above the $23,600 level and the 100 hourly simple moving average. There was a break below…
On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets. Bitcoin aSOPR Fails Retest Of The “Value=1” Line As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR has been rejected from the breakeven mark recently. The “Spent Output Profit Ratio” (or SOPR…
The crypto market sentiment had taken a beating when the price of bitcoin fell to a new cycle low of $17,600. With this, investor sentiment had plummeted to new yearly lows. But slowly, the market sentiment had recovered and made its way out of the extreme fear territory. That is until now when the market…
Bitcoin miners have borne the brunt of the bear trend since it began. They watched cash flow plummet on their machines, forcing them to look to other ways to finance their operations. The natural response to this was for public miners to dip into their bitcoin reserves and begin selling off BTC to keep their…
Bitcoin surged after July’s CPI data showed that inflation has started to decline after several months of record-breaking rates. Similar to earlier instances, the price of bitcoin climbed close to $24,000. CPI Report Boost Bitcoin Price According to the Consumer Price Index report (CPI) that the U.S. Bureau of Labor and Statistics released on Wednesday,…
The crypto market has been trading in the green over today’s session as it sees some relief from macro-economic factors. Today, the U.S. published July’s Consumer Price Index (CPI) print which hinted at a slowdown in inflation and allow Bitcoin, Ethereum, and others to experience some relief. CPI has been a key metric over the…
Bitcoin price started a fresh decline from the $24,250 resistance zone against the US Dollar. BTC declined below $23,000 and remains at a risk of more losses. Bitcoin started a fresh decline below the $23,500 support zone. The price is now trading below the $23,500 level and the 100 hourly simple moving average. There was…