Earlier today, the United States Securities and Exchange Commission (SEC) approved 19b-4 fillings for eight spot Ethereum exchange-traded funds (ETFs), paving the way for the highly anticipated institutional adoption of the second most valuable coin. The decision comes after months of uncertainty and less than six months after the regulator approved spot Bitcoin ETFs. For…
Bitcoin is cooling off after an impressive 25% spike from May 2024 lows. Even with this cool-off, some analysts are upbeat, predicting the coin will extend gains in future sessions. Bitcoin Finds Strong Support Between $70,180 and $70,600 In a post on X, one analyst believes Bitcoin has strong support at around $70,180 and $70,600. The…
Bitcoin is firm, recently trending above $71,200 and easing past local resistance levels, much to the delight of holders. However, the current leg up is just the beginning for Willy Woo, an on-chain analyst. Bitcoin Rally Getting Started: Analyst Taking to X, Woo, who has been maintaining a bullish outlook for the world’s most valuable…
Even after the upswing mid-this week, Bitcoin prices remain wavy, considering price action in lower time frames. The coin is retesting $66,000 at spot rates, but traders expect the breakout to have been confirmed, pushing BTC prices toward $70,000. Since the surge to all-time highs in March, the coin has been on a steady downtrend,…
According to the candlestick arrangement in the daily chart, Bitcoin is moving inside a range. BTC is also down roughly 20% from the all-time high at spot rates. Though the series of lower lows posted in the past few trading days is bearish, one analyst is upbeat, expecting an encouraging recovery in the sessions ahead. This…
Bitcoin has been trending lower after failing to break above $66,000 in early May, deflating hopes of immediate price gains post-Halving. Taking to X, one analyst shared on-chain data that paints a more nuanced picture than a simple loss of confidence in recent weeks. Bitcoin Open Interest Remains Low: Bullish? The analyst, pointing to CryptoQuant data, observes…
Some analysts were frightened by the recent drop in Bitcoin prices. Though the coin is showing signs of strength, multiple leveraged longs were liquidated early this week. In a post on X, one analyst thinks Bitcoin might have just found support, bottoming up after the contraction this week, pushing it lower from the multi-week range established in…
As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater. New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that…
Bitcoin bulls may soon be back in business. According to Willy Woo, an on-chain analyst, market data shows that urgent “market sells” responsible for forcing the coin from all-time highs are now falling. This development may prop up prices, preventing further sell-offs. Bitcoin Selling Pressure Easing This preview is due to falling Cumulative Volume Delta (CVD)…
While Bitcoin prices struggle for momentum and are caged inside a narrow range, on-chain data tells a different story. Taking to X, one analyst notes that whales, which are large crypto holders, are actively accumulating the world’s largest coin by market cap. BTC whales accumulating | Source: Analyst via X Bitcoin Whales Accumulating Despite Weakness By…