Markets are still reeling from the impact of the pandemic and the resulting Black Thursday selloff. However, one fund manager says the powerful shakeout demonstrated the strong will of Bitcoin investors.If that violent selloff driven by panic and fear didn’t cause holders to sell, what might it take?Remembering The Most Violent Shakeout In Crypto HistoryAt…
Bitcoin is slowly moving higher and trading above the $9,100 level against the US Dollar. BTC could start a strong upward move if it clears the $9,300 and $9,340 resistance levels.Bitcoin is showing a few positive signs above the $9,000 and $9,100 levels.The price is trading above the 100 hourly simple moving average, but it…
While Bitcoin has seen its fair share of short-term volatility, on a macro scale the cryptocurrency is still consolidating.The below chart from Blockroots founder Josh Rager, a crypto trader, displays this well. The chart shows that over the past ~seven weeks, BTC has been effectively trapped between $8,500 and $10,000. Each breakout has failed to…
Bitcoin appears to be incredibly weak from a short-term perspective.After breaking below $9,000 for a short period earlier this week, the crypto is once again at risk of breaking below the lower boundary of its long-held trading range.Multiple top traders, however, remain firmly bullish on the cryptocurrency’s mid-term price action. Some are even noting that…
It has been a rough week for Bitcoin. The benchmark crypto rallied to highs of $9,800 just a few short days ago before once again being met with massive selling pressure that caused it to slide lower.The mixed price action it has seen in recent times is strikingly similar to that seen in the traditional…
Last week, Bitcoin price fell from a high of $9,800 to a low of $8,900. Ethereum fell over 10% from $248 to $215. But while these top crypto assets tanked, several small-cap altcoins not only surged but set records for a new all-time high.What’s causing these underdog altcoins to rally while major crypto assets continue…
Bitcoin price can break above $10,000 even as it eyes a choppy price action in the weeks ahead.The upside bias takes its cues from the crypto’s on-chain data, including higher buying strength, declining capitulation sentiment, and rising transactional volume.Phi Deltalytics, an independent cryptocurrency analysis portal, sees Bitcoin hitting $11,700 in the coming sessions.Bitcoin market’s short-term…
Data on Bitcoin futures from the Chicago Mercantile Exchange (CME), on the Commitments of Traders (CoT), shows a sharp decline in aggregate holdings by institutional traders for June. Bitcoin price with open interest on CME. Source: TradingView.comIn early February this year, which was the previous instance of this happening, a downturn in the Bitcoin price…
Bitcoin has made an attempt at recovering the losses it incurred late last week. On Sunday, the cryptocurrency rallied as high as $9,200 as buyers stepped in and shorts were squeezed.Yet order book data indicates that BTC may have a tough time rallying any further.Related Reading: A Hacker Just Drained $500k in Ethereum & Altcoins…
Bitcoin is currently correcting higher from the $8,813 swing low against the US Dollar. BTC is trading above $9,000, but it is facing many hurdles near $9,200 and $9,300.Bitcoin started an upside correction after trading to a new monthly low at $8,813.The price is recovering nicely and it is trading above the $9,000 level.There is…