Bitcoin price has now declined to $56k; does that mean a top is in? Or is this just a shakeout? Here’s what the SOPR indicator says about it. The Bitcoin SOPR Indicator The BTC Spent Output Profit Ratio (or SOPR in short) is an on-chain indicator that estimates whether investors are selling at a profit…
Bitcoin price failed to stay above $60,000 and started a fresh decline against the US Dollar. BTC could extend losses below $55,000 in the near term. Bitcoin started a fresh decline from the $61,000 resistance zone. The price is now trading below $58,000 and the 100 hourly simple moving average. There is a key bearish…
The MVRV indicator shows that Bitcoin currently hasn’t reached the top yet, and the crypto may still have room to grow. Bitcoin MVRV Ratio May Show The Top Hasn’t Been Reached Yet As pointed out by a CryptoQuant post, on-chain data suggests MVRV ratio values are still low right now, implying that the coin hasn’t…
Bitcoin price is struggling to maintain support at $60,000, having fallen more than 15% from the local record set earlier this month. But could the November rain storm that has resulted in a short-term bloodbath in crypto, be merely the final shakeout before the cycle peak is in? And could past cycles provide a preview…
Bitcoin and other cryptocurrencies are increasingly making appearances in the world of sports. The latest team to enter the cryptocurrency world is Australian Baseball League club Perth Heat. On Wednesday, the club announced that it integrated crypto payments into its operations. The Heat said they had partnered with OpenNode to accept and send Bitcoin payments powered…
Bitcoin price extended decline below the $60k support against the US Dollar. BTC could extend losses towards $55k in the coming sessions. Bitcoin started a fresh decline below the $65k and $62k support levels. The price is now trading below $60,000 and the 100 hourly simple moving average. There is a key bearish trend line…
Yesterday, funding rates fell below zero in a market sentiment reset as Bitcoin’s price declined following its new all-time high. Bitcoin Funding Rates Briefly Fell Below Zero Yesterday As per the latest weekly report from Arcane Research, the funding rates have plummeted following a spike around when BTC made a new ATH. Yesterday, they briefly…
Raoul Pal, CEO, and co-founder of Real Vision has taken a bullish stance on Ethereum. Staying true to past statements, Pal reiterated support for Ethereum, which he sees growing exponentially in the coming years. For Pal, the growth of Ethereum in comparison to Bitcoin is the greatest argument for its long-term success. This has led…
Bitcoin price recovered losses and climbed above $65,000 against the US Dollar. BTC must climb above the $66,350 zone to start a fresh rally in the near term. Bitcoin started a fresh increase from the $62,500 support zone. The price is now trading above $65,000 and the 100 hourly simple moving average. There was a…
Bitcoin exchange reserves are a good way to gauge investor sentiment in the market. It can show when investors are ready to sell, meaning that they believe the asset has hit an overvalued point. Likewise, it can show when investors are holding on to their bags and expecting the price of the digital asset to…