This weekend and on Monday, trading desks across the stock market and other traditional markets will be shut down. But Bitcoin and the rest of the crypto market never stops.With the stock market closed, less to do, and traditional celebrations next to impossible due to lockdown conditions, it could keep more traders at home, driving…
Another week, another round of Crypto Tidbits. Bitcoin has seen quite the tumultuous week.After rallying towards $10,000 at the start of the week on the back of post-halving buying, seemingly caused by both retail and institutional players, Bitcoin plunged to $8,800 over the course of two days. Altcoins posted similar losses, with some underperforming the market…
Bitcoin saw a 6% negative mining difficulty adjustment this week, which ensures that the cryptocurrency will continue mining blocks every ten minutes.This indicates that the cryptocurrency is rapidly seeing a reduction in the number of miners vying to validate transactions, suggesting that the implications of the recent mining rewards halving event are starting to take…
Bitcoin has entered what appears to be yet another consolidation phase within the lower-$9,000 region. The crypto is struggling to garner any momentum as its buyers and sellers both reach an impasse following its recent decline.It now appears that the crypto could be gearing up for a massive movement in the days and week ahead,…
One key on-chain indicator is now signaling that Bitcoin is seeing intense underlying strength despite its recent turbulent price action.BTC’s NVT is a widely respected indicator that weighs the number of unique tokens being transacted on the Bitcoin network with the cryptocurrency’s price action.Because the network is still being heavily utilized by investors, it shows…
Bitcoin started a strong decline after it broke the key $9,500 support against the US Dollar. BTC price is currently correcting higher from the $8,794 low, but upsides are likely to remain capped.Bitcoin is down more than 5% and it broke many key supports near $9,500 and $9,150.The price is now trading well below the…
It has been a rough day for the benchmark cryptocurrency. After flashing some signs of weakness, Bitcoin briefly dipped below $9,000 earlier today before incurring enough buying pressure to propel it back above this level.This decline led BTC down towards its 200-day moving average, which has so far been defended by bulls.The 200-day MA has…
Bitcoin has seen some immense selling pressure today that has led it down to its key support at $9,000. The crypto is now flashing some signs of growing weakness as it continues struggling to post any decisive bounce at this level.This has led analysts to note that the cryptocurrency’s selling pressure is “back in full…
New data based on the delta between Chinese buyers and derivatives markets in Bitcoin markets suggests that much of the recent rally has been driven by crypto investors in China.But why are Chinese buyers dominating Bitcoin interest, and what is sparking the unusual phenomenon?Indicator Shows Chinese Buyers Are Dominating DerivativesBitcoin price may be falling currently,…
Bitcoin price fell towards $9,200 a day after it formed a bullish Golden Cross pattern.The decline appeared despite bullish favorable market outlook, raising fears of an extended downside action before this week’s close.So far, bitcoin has logged its biggest weekly decline since March 2020, with losses mounting near $700.Bitcoin plunged to near $9,200 just a…