Bitcoin and Ethereum have reacted negatively to the Consumer Price Index (CPI) print in the United States. The metric is used to measure inflation in the U.S. dollar and hit 9.1% for June which represents an increase from May’s results. Related Reading | Social Dominance Rate Of Bitcoin Marks An All-Time High in 2022 At that…
Bitcoin extended losses and traded below $19,600 against the US Dollar. BTC could start a recovery wave if it stays above the $19,300 support zone. Bitcoin remained in a bearish zone and settled below the $20,000 level. The price is now trading below the $19,600 level and the 100 hourly simple moving average. There is…
Data from Glassnode shows the recent selling from Bitcoin long-term holders has come from those who bought at more recent prices, and not the hodlers who got in during the 2017-2020 cycle. Bitcoin Long-Term Holders Have Been Selling At An Average Loss Of 33% As per the latest weekly report from Glassnode, the BTC long-term…
Bitcoin extended losses and traded below $20,000 against the US Dollar. BTC could revisit the key $19,500 support zone, where the bears might be tested. Bitcoin is following a bearish path below the $20,500 pivot level. The price is now trading below the $20,500 level and the 100 hourly simple moving average. There was a…
Bitcoin trimmed gains and declined below $21,000 against the US Dollar. BTC must stay above $20,500 to avoid a major decline in the near term. Bitcoin failed to stay above the $21,000 support and extended drop. The price is now trading below the $21,500 level and the 100 hourly simple moving average. There is a…
On-chain data shows Bitcoin miners have deposited large amounts to derivatives exchanges recently, a sign that these network validators may be hedging against potential future falls. Bitcoin Miners Have Been Transferring To Derivatives Exchanges Recently As pointed out by an analyst in a CryptoQuant post, around 4.3k BTC has exited miner reserves during the last…
Bitcoin has witnessed a massive plunge from the $30,000 level to $20,000 in the month of June. Price of Bitcoin has been witnessing movement within a range of $20,000 and $21,000 respectively. The short term technical outlook of the coin has been pointing towards bullishness. It is however too soon to term the upward price direction…
Bitcoin managed to break above the resistance level above $21,000 and seems poised for further gains. The cryptocurrency records its first week in the green after relentless selling pressure pushed it to a multi-year low of around $17,000. Related Reading | Why Weakening Bearish Bitcoin Momentum Could Give Bulls The Upper Hand At the time of…
According to Fidelity’s Jurrien Timmer, Bitcoin is currently undervalued. The benchmark crypto has been pushed back to 2020 levels after losing over 70% of its value in the past months. Related Reading | Crypto Traders Lose $280 Million Following Bitcoin’s Break Above $22,000 At the time of writing, Bitcoin has begun showing some green as it…
Data shows the Bitcoin Coinbase premium gap has surged up to positive values, suggesting that buying from investors on the exchange could be behind the pump to $22k. Bitcoin Coinbase Premium Gap Observes Sharp Rise To Positive Values As pointed out by an analyst in a CryptoQuant post, after many months of negative values, the…