Bitcoin’s consolidation over the past few weeks hasn’t been seen as bullish by everyone. Case in point: institutional traders on the CME are currently net short on BTC futures.Yet, a trader says that those shorting have “terrible odds” of making money.Related Reading: Ethereum Could Soon “Rally Hard” as DeFi Hits Escape Velocity: Fund ManagerBitcoin Is Historically…
The past few days have seen Bitcoin trade in the low-$9,000s seemingly with a downside skew. The cryptocurrency has tested $9,000 time and time again, as bears prepare to push the asset under that crucial support to confirm a bear trend.Yet an analyst that made an extremely accurate prediction has suggested that Bitcoin may soon…
It’s clear that Bitcoin is building towards a breakout. The cryptocurrency has converged towards supports in low-$9,000s, with volatility reaching multi-week and multi-month lows.Unfortunately for bulls, a textbook chart pattern is predicting that Bitcoin will break lower from this range, likely to fall towards the $8,000s.Related Reading: BTC Hash Rate Recovers to Pre-Halving Levels, But a…
After the block reward halving in May, Bitcoin’s mining ecosystem was immediately thrown into disarray.The revenue of miners was effectively halved overnight, forcing many miners with tight profit margins to go offline as they could not maintain a positive cash flow in the wake of the event. This resulted in a slowdown in transaction speeds…
Bitcoin could soon see a massive move as volatility continues to tighten, according to a crucial indicator. Investors, however, remain largely divided over what comes next for the cryptocurrency.Related Reading: A Top Macro Analyst Just Bought Bitcoin For the First Time EverBitcoin Is Prepping For a Massive MoveThe width of the Bollinger Bands on Bitcoin’s…
Bitcoin’s recent consolidation has thrown most investors for a loop: the majority aren’t too sure what comes next for the cryptocurrency market.Some, though, have made progress in discussing the recent price action. One analyst observed that stepping back and looking at BTC’s medium-term price action, the past three months look extremely structurally similar to a…
Bitcoin could break above $10,000 in the next quarter.The upside sentiment matures as the S&P 500 hints at painting a super-bullish Golden Cross in July 2020.The U.S. benchmark’s growing correlation with Bitcoin could help it attempt a breakout towards $20,000.As bitcoin repeatedly struggles to close above $10,000, the S&P 500 is paving the way for…
Bitcoin’s recent consolidation has left analysts and investors alike largely puzzled as to what comes next.Nothing is a better sign of this than the funding rates of BTC futures markets, which are converging towards 0.00%. This shows that both the long and short side of the market is not overvalued.An analyst has suggested that a…
It’s been an explosive past few months for Bitcoin, equities, and other global markets.After a liquidation event in March that sent cryptocurrencies down by over 50% and other asset classes down almost as much, a bounce has ensued that has largely deleted the losses of March.BTC now trades for $9,400, up by approximately 30% since…
Ripple’s XRP stole the spotlight of the cryptocurrency market after the former chairman of the U.S. Commodity Futures Trading Commission (CFTC) Christopher Giancarlo affirmed that it does not qualify as a security. Instead, the so-called “Crypto Dad” argues that the cross-border remittances token can be considered a currency like any other sovereign currency.“Ultimately, under a…