Bitcoin is back in the spotlight of the cryptocurrency market after taking a nearly 10% dum. The sudden bearish impulse saw the asset’s price drop from a high of $9,970 to a low of $9,050.Alongside the price slump, over $80 million worth of long and short BTC positions were liquidated on BitMEX alone.From a technical…
The beginning of the month was quite chaotic for Bitcoin and those trading it.On June 1, the flagship cryptocurrency was able to slice through the $10,000 resistance level for the first time since mid-February. But a few hours later, BTC plummeted by more than $1,000 in less than five minutes.The wild price action resulted in…
Ethereum rallied so far and fast in 2017 that there was a point at which analysts were expecting the market capitalization of ETH to flip that of Bitcoin. Fittingly, this event was dubbed the “flippening.”But since the 2018 all-time high, the cryptocurrency has deflated massively. One Ethereum used to buy close around 0.15 BTC, but…
Bitcoin’s price action has been rather volatile over the past two weeks, with the asset whipsawing between the $8,000s and $10,000s.In the past week alone there was approximately $250 million worth of position liquidations on BitMEX alone due to the volatility, according to data shared by crypto derivatives tracker Skew.com.Yet the price action has actually…
After plunging on Sunday morning, Bitcoin has mounted a strong comeback over the past two hours that has seen it reverse the earlier losses.In the past 30 minutes, the cryptocurrency has rallied from $9,540 to a high of $9,800 — a 2.7% move. And since the daily lows of ~$9,370, the asset is up just…
Even though Bitcoin is up more than 150% from March’s lows, analysts have still been questioning if it is just a matter of time before the bear trend continues.A trader that months before March called for Bitcoin to fall to the $3,000s and for XRP to reach $0.11 recently touched on this. He indicated in the…
On June 1st, Bitcoin surged just under $1,000 in mere hours, rallying from $9,500 to a high of $10,400. It was a move that made analysts immediately flip bullish on the flagship cryptocurrency.Chief executive of Real Vision Raoul Pal shared the below chart in the wake of the move with the following comment:“Here it is on…
Bitcoin’s rally over the past month has been impressive. But even more so is that of Ethereum.The second-largest cryptocurrency is up more than 13% in the past 30 days, according to data from Coin360.com. Over that same time frame, Bitcoin dipped by 4%, while some altcoins like XRP and BSV plunged by nearly 10%.ETH’s ability…
Since plunging as low as $8,600 earlier this week, Bitcoin has mounted a strong comeback that took prices as high as $9,900 on June 4th and 5th.The more than 10% bounce has convinced many traders of the bull case, hence why funding on futures exchanges remains positive, showing longs are more aggressive than shorts. Yet…
After the $1,500 drop that Bitcoin sustained just the other day, analysts are reconsidering their bullish skew on the crypto market.One analyst went as far as to suggest that the cryptocurrency is poised to correct towards the $7,000s after seeing that harsh rejection above $10,000.The analyst in question predicted months in advance BTC would bottom…