Bitcoin has entered what appears to be yet another consolidation phase within the lower-$9,000 region. The crypto is struggling to garner any momentum as its buyers and sellers both reach an impasse following its recent decline.It now appears that the crypto could be gearing up for a massive movement in the days and week ahead,…
One key on-chain indicator is now signaling that Bitcoin is seeing intense underlying strength despite its recent turbulent price action.BTC’s NVT is a widely respected indicator that weighs the number of unique tokens being transacted on the Bitcoin network with the cryptocurrency’s price action.Because the network is still being heavily utilized by investors, it shows…
Bitcoin started a strong decline after it broke the key $9,500 support against the US Dollar. BTC price is currently correcting higher from the $8,794 low, but upsides are likely to remain capped.Bitcoin is down more than 5% and it broke many key supports near $9,500 and $9,150.The price is now trading well below the…
It has been a rough day for the benchmark cryptocurrency. After flashing some signs of weakness, Bitcoin briefly dipped below $9,000 earlier today before incurring enough buying pressure to propel it back above this level.This decline led BTC down towards its 200-day moving average, which has so far been defended by bulls.The 200-day MA has…
Bitcoin has seen some immense selling pressure today that has led it down to its key support at $9,000. The crypto is now flashing some signs of growing weakness as it continues struggling to post any decisive bounce at this level.This has led analysts to note that the cryptocurrency’s selling pressure is “back in full…
New data based on the delta between Chinese buyers and derivatives markets in Bitcoin markets suggests that much of the recent rally has been driven by crypto investors in China.But why are Chinese buyers dominating Bitcoin interest, and what is sparking the unusual phenomenon?Indicator Shows Chinese Buyers Are Dominating DerivativesBitcoin price may be falling currently,…
Bitcoin price fell towards $9,200 a day after it formed a bullish Golden Cross pattern.The decline appeared despite bullish favorable market outlook, raising fears of an extended downside action before this week’s close.So far, bitcoin has logged its biggest weekly decline since March 2020, with losses mounting near $700.Bitcoin plunged to near $9,200 just a…
After holding in the high-$9,000s for days on end, Bitcoin recently exhibited some weakness uncharacteristic to the recent uptrend. The cryptocurrency fell from the $9,800 support level to $9,100 in a move that liquidated $40 million, with BTC plunging on fears of Satoshi Nakamoto liquidating his coins.Bitcoin price chart from TradingView.com. Chart shows the cryptocurrency’s Wednesday…
So-called “Crypto Twitter” was set ablaze today by an unusual 50 Bitcoin transaction made by a Satoshi-era wallet from 2009 that has been dormant for over a decade.News of this initially led many to speculate that this could be the cryptocurrency’s elusive founder – Satoshi Nakamoto –moving his holdings, but later data suggests that this…
The crypto market was surprised to find that an 11-year-old Bitcoin wallet from early 2009 – just after the cryptocurrency’s launch – is now moving BTC.This has sparked a plethora of theories to emerge regarding whether or not it is Satoshi himself – or one of his associates – that is moving the cryptocurrency.News of…