Bitcoin’s price action has become increasingly dependent on that of the S&P 500 over recent months. The correlation is so strong that it has been observed by analysts who do not actively watch the cryptocurrency space, such as a team at JP Morgan. Data shared by analysts suggest the correlation between these two markets is…
Bitcoin saw a notable upswing yesterday that allowed it to put some serious distance between its current price and its recent low. The benchmark cryptocurrency is starting to show signs of breaking its bout of incredibly low volatility. However, it has yet to shatter the upper boundary of its macro trading range, which sits at…
Bitcoin price is at a pivotal moment, potentially ready for a breakout into a new bull trend. The crypto market has just been watching and waiting for the right spark. Crypto assets typically pump when they’re listed on a new exchange or platform. The spark the crypto world may have been waiting for could be…
Investing in Bitcoin is a wild and bumpy ride. Some choose to “HODL,” while others decide to trade the normally volatile crypto asset. Both are subject to extreme fluctuations in price, however, traders can turn market sentiment into a profitable trading signal. Here’s how the cryptocurrency market fear and greed index can be used as…
Bitcoin’s fundamental case continues to strengthen as developments regarding the next stimulus bill continue. Industry executives believe that this could act as a catalyst for this market moving forward. This comes as BTC has begun to inch higher after weeks of consolidation. As of this article’s writing, Bitcoin trades for $9,500 — the highest price…
Bitcoin’s recent jump above $9,500 has increased its probability of testing $10,000 in the coming sessions, according to an analyst. He also noted that traders would first target $9,785 as their interim resistance level. Bitcoin leaped over the $9,500-mark on Wednesday and it now eyes extended its bullish momentum into the six-figure region. The benchmark…
Many believe that the next catalyst for Bitcoin’s growth will be its positioning as a “safe haven” asset that investors turn to protect their capital from shrinking due to inflation and economic turbulence. Although there’s no doubt that Bitcoin is fundamentally positioned to fit this role, it remains somewhat unclear as to whether or not…
Bitcoin and the aggregated crypto market are currently stabilizing following the turbulence seen yesterday. This volatility allowed Bitcoin to break out of its tight trading range and secure a position above its previous range highs of $9,300. Concurrently, most altcoins shed some of their value. Now that the dust has settled and BTC is entering…
Bitcoin gained more than 2.5% and broke the main $9,300 resistance against the US Dollar. BTC is currently consolidating gains and it is likely setting up for more upsides towards $9,550. Bitcoin gained bullish momentum above the $9,200 and $9,300 resistance levels. The price is currently consolidating above $9,300 and it is well above the…
Bitcoin expects to hold its long-term bullish bias as long as it trading above $8,800, according to market analyst Mohit Sorout. Bitazu Capital’s founding partner based his analogy on three bullish technical indicators, each signifying a favorable buying sentiment in the cryptocurrency market. A modest rally in the Bitcoin market on Tuesday promised to improve…