While Bitcoin is touted as uncorrelated, the cryptocurrency has been following the inverse of one asset over the past few months: the U.S. dollar. Like gold, BTC’s price action is partially dictated by the value of fiat currencies. Over the past few months, the negative correlation gold and Bitcoin have with the U.S. dollar has…
Bitcoin price may be down compared to it was just weeks ago, but it is not out. Bulls are fighting hard and have been keeping $10,000 as unbreakable on the way back down as it was on the way up. With each touch of the key resistance turned support, the cryptocurrency’s price action more closely…
Bitcoin is currently showing some serious signs of strength. The benchmark cryptocurrency has flown past its $10,400 resistance and is now en route to setting fresh weekly highs. This marks a notable rebound from lows of $9,900 that were set on multiple occasions throughout the past couple of weeks. The buying pressure between this level…
Bitcoin price remained well supported above $9,900 and $10,000 against the US Dollar. BTC is currently recovering and approaching a major breakout zone at $10,500. Bitcoin is trading higher, and it surpassed the $10,200 resistance zone and he 100 hourly simple moving average. It is facing a major hurdle near the $10,450 and $10,500 levels.…
Centralized exchanges are playing a decreasingly important role within Bitcoin network activity, which is highlighted by the number of fees that stem from transactions taking place on exchanges. In past years, exchanges accounted for a far higher percentage of the transaction fees received by miners than presently. This seems to indicate that although exchanges still…
Bitcoin price this past week collapsed from the 2020 high of over $12,400 to under $10,000. More than seven distinct drops to below $10,000 have been bought up already. During each plunge down, however, some of the weakest hands in the crypto market may have been shaken out, according to one uncommon metric. If that’s…
Bitcoin has resumed its descent to the downside as legacy markets have opened in the red once again. The leading cryptocurrency has been flirting with $10,000 all morning, nearing the trend lows. The cryptocurrency is reaching pivotal supports as it continues its descent. One trader went as far as to suggest that if BTC doesn’t…
Ethereum just collapsed a full 37% over the last week, following a new 2020 high and a record over 300% rally from Black Thursday lows. But despite how sharp and violent the selloff has been, its possible that the price action is a bullish retest that after confirmation leads to more new highs ahead. According…
Bitcoin price is falling and the market is already fearful of a repeat of Black Thursday. But if massive “high net worth” whales have anything to say about it, another such plummet is extremely improbable. Why? Because since that day, these same whales have amassed a substantial amount of the BTC supply. But what is…
Bitcoin is once again trading down at its crucial $10,000 support level. Earlier today, bears attempted to invalidate this support when they pushed it to $9,900, but the cryptocurrency was able to rebound from these lows. Analysts are now conflicted on where BTC will trend next, as a continued defense of $10,000 would be bullish,…