Bitcoin failed to recover above $23,000 against the US Dollar. BTC started a fresh decline and remains at a risk of a move below the $20,000 support. Bitcoin failed to climb above $23,000 and started a fresh decline. The price is now trading below the $22,000 level and the 100 hourly simple moving average. There…
Bitcoin funding rates have been dropping over the last couple of weeks. Even as the price of the digital asset had plummeted, causing some to call it being on ‘discount’, these funding rates have refused to move out of the negative territory. The past week has proven to be no different given that funding rates…
Bitcoin is still holding above $20,000 despite a massive increase in selling pressure over the past few days. The cryptocurrency has experienced some of the worst capitulation events in its history and could be read for a fresh leg-down. Related Reading | Bitcoin Exchange Reserve Spikes Up, Selloff Not Over Yet? At the time of writing,…
On-chain data shows Bitcoin exchange reserves have sharply increased in value, a sign that the selloff may not be over yet. Bitcoin Exchange Reserve Observes Rapid Rise As pointed out by an analyst in a CryptoQuant post, a high number of coins have entered exchanges over the last day. The “exchange reserve” is an indicator…
Bitcoin price is shockingly close to its former 2017 peak, causing widespread panic, fear, and despair across the crypto market. But could the violent move down be a text book zig-zag correction? And if so, what does this mean for the crypto market next? Bitcoin Price Action Follows Deadly Zig-Zag Pattern Despite the narrative from…
The crypto market could face more volatility during today’s trading session. The U.S. Federal Reserve is set to host its Federal Open Market Committee (FOMC) meeting and possibly announce a hardline approach to combat inflation. Related Reading | Bitcoin Miners’ Exchange Flow Rises To Seven-Month High Amid Bloodbath Inflation metrics have been at their 40-year high…
Small and retail investors are not the only ones getting hit hard by the Bitcoin crash. Institutional investors are also feeling the heat of the market crash. This has sent the institutional investors running as inflows had halted for the last week. Outflows from crypto and blockchain-related investments grew steadily over the course of the…
Bitcoin formed a base near the $21,000 level against the US Dollar. BTC is attempting a recovery wave, but the bears might protect gains above $23,000. Bitcoin traded as low as $20,824 before the bulls took a stand. The price is now trading below the $24,000 level and the 100 hourly simple moving average. There…
The crypto market pushes further down and seems poised for more losses as Bitcoin touches the low of its current levels. The number one crypto by market cap approaches a major support level, and if bulls failed to protect it, BTC’s price could return to its 2020 range. Related Reading | By The Numbers: Bitcoin Suffers…
Bitcoin continued to crash down yesterday, with the coin hitting as low as $21k before rebounding to current values. Has the crypto made the bottom yet? Bitcoin NUPL Indicator Assumes Negative Values For First Time Since 2020 As pointed out by an analyst in a CryptoQuant post, the NUPL metric has declined below zero, which…