Crypto News

January 2021

Bitcoin meets Biden: 5 things to watch for BTC price this week

2021-01-18T09:00:00+00:00 January 18th, 2021|Crypto News|

Bitcoin (BTC) is back in familiar territory as the week begins after a weekend spent ranging in its new, albeit large, trading corridor above $30,000.With the United States presidential inauguration just days away, Cointelegraph takes a look at what else may be able to shake up BTC price action.DXY keeps reversing lossesThe inauguration of President-elect Joe Biden comes as the strength of the U.S. dollar [...]

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Bitcoin gets physical: Art or digital heresy?

2021-01-18T04:48:16+00:00 January 18th, 2021|Crypto News|

Since 2011, a group of enthusiasts and collectors have been obsessed with the physical manifestation of Bitcoin. On the face of it, physical Bitcoin seems like a contradiction to the key terms that define it, so a trustless, instantly transferable virtual currency becomes a real world coin that has all the disadvantages of Earth-bound cash. But there are numerous advantages too when it comes to privacy, [...]

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Bitcoin open interest hits $8.8B as 45% of BTC options expire in 2 weeks

2021-01-18T01:41:23+00:00 January 18th, 2021|Crypto News|

Over the past two months the open interest on Bitcoin options has held reasonably steady even as the figure increased by 118% to reach $8.4 billion as (BTC) price rose to a new all-time high. The result of Bitcoin’s price appreciation and the rising open interest on BTC options has resulted in a historic $3.8 billion expiry set for Jan. 29. BTC options aggregate open interest. [...]

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Hedge fund predicts $115K Bitcoin price and the fall of ‘speculative’ altcoins

2021-01-17T21:55:38+00:00 January 17th, 2021|Crypto News|

New data from Pantera Capital, an investment firm and hedge fund, suggests that Bitcoin’s (BTC) current price action is closely following the stock-to-follow model’s trajectory and the firm’s analysts believe BTC will reach $115,212 by Aug. 1. Bitcoin’s parabolic rally may have placed the price a bit ahead of the model’s projection and this week’s 28% correction sent temporary shivers across the market but sharp corrections [...]

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Top 5 cryptocurrencies to watch this week: BTC, LINK, UNI, XTZ, ATOM

2021-01-17T18:57:33+00:00 January 17th, 2021|Crypto News|

Bitcoin (BTC) price has yet to recapture the $40,000 level and traders who were expecting a quick resumption of the uptrend may have been caught off guard by the recent pullback. This could have led to the liquidation of about $500 million worth of cryptocurrency futures positions in the past 24 hours.Over leveraged positions provide the necessary ammunition during the uptrend, but they become a [...]

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DeFi bull run: Why Aave and SUSHI are surging despite Bitcoin price uncertainty

2021-01-17T12:00:00+00:00 January 17th, 2021|Crypto News|

DeFi blue-chips, including Aave (AAVE) and SushiSwap (SUSHI), have been rallying hard in the past several days while Bitcoin is seeing range-bound consolidation at around $35,000 as of Jan. 17. Both AAVE and SUSHI prices have risen by more than three-fold since December, within merely a month. Investors attribute the bull run of DeFi tokens to the market “re-rating” the major DeFi projects.SUSHI/USDT 1-day price chart (Binance). Source: [...]

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$500M in crypto futures liquidated as Bitcoin dips below $34K: What happens next?

2021-01-17T10:13:01+00:00 January 17th, 2021|Crypto News|

Roughly $500 million worth of cryptocurrency futures positions were liquidated in the past 24 hours. The mass liquidation of positions happened before the price of Bitcoin (BTC) dipped below $34,000 on Jan. 17.Bitcoin total liquidations. Source: Bybt.comWhy were so many positions liquidated?Overnight, the price of Bitcoin rose by 6.7% from $35,500 to nearly $38,000. Meanwhile, the futures funding rate sharply increased, indicating an overleveraged market.Across [...]

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Traders say Bitcoin price ‘needed pullback’ to maintain bullish momentum

2021-01-16T21:30:00+00:00 January 16th, 2021|Crypto News|

Bitcoin’s parabolic increase well above its previous all-time-high has many experiencing déjà vu from 2017 and a number of analysts are concerned the market is overdue for a sizable correction. On Jan. 8 With Bitcoin (BTC) price reached a new all-time high at $41,940 and this week’s 28% collapse to $31,076 had professional and retail investors afraid that a strong trend reversal was in the making. [...]

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BTC crash, DOT crushes XRP, man risks losing $262M: Hodler’s Digest, Jan. 10–16

2021-01-16T20:43:35+00:00 January 16th, 2021|Crypto News|

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.Top Stories This WeekBulls buy Bitcoin’s $35,000 support retest as altcoins push higherScream if you want to go faster. The crypto markets have been a [...]

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Ethereum competitor Near Protocol (NEAR) gains 106% as DeFi heats up

2021-01-16T18:05:46+00:00 January 16th, 2021|Crypto News|

Near Protocol (NEAR) is a smart contract platform that uses parallel processing to scale the network. This technique, known as sharding, resembles what Eth2 is aiming to achieve and Near’s proof-of-stake consensus mechanism also allows token holders to stake their coins. In the past month, NEAR has rallied by 107% and this raises questions on whether the project is making significant strides in what has become [...]

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Polkadot gains 75% in one week — But can DOT price reach $20 next?

2021-01-16T14:35:56+00:00 January 16th, 2021|Crypto News|

Bitcoin (BTC) has made significant moves already this year but altcoins are catching up. Once Bitcoin’s price starts to stabilize, the market environment becomes better for altcoins to begin their run. One of the strongest performers in 2021 is Polkadot, as this cryptocurrency has been making new all-time highs day in, day out. Polkadot’s price rallied by 85% in 2021 and 75% in the past seven [...]

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Peak fear? Bitcoin futures leverage gets reset by this week’s wild price swings

2021-01-16T13:47:40+00:00 January 16th, 2021|Crypto News|

The leverage used in the Bitcoin (BTC) futures market has fallen significantly in the past several days. This indicates that traders are generally uncertain about where BTC is heading in the near term.Estimated leverage on Binance. Source: CryptoQuantWhat is leverage and why is this metric crucial for Bitcoin market sentiment?In the Bitcoin futures market, traders can borrow up to 125 times of their initial capital [...]

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Bitcoin bulls buy BTC’s $35K support retest as altcoins push higher

2021-01-16T00:25:20+00:00 January 16th, 2021|Crypto News|

Calls for Bitcoin (BTC) to rally above $40,000 were dashed as the top cryptocurrency hit a wall of resistance which sparked a sell-off in the early trading hours. Data from Cointelegraph Markets and TradingView show the price of BTC fell as low as $34,368 before rebounding to its current price of $37,300. Daily cryptocurrency market performance. Source: Coin360It’s possible that the excitement surrounding the announcement of [...]

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Bitcoin slides under $35K despite Biden unveiling $1.9 trillion stimulus

2021-01-15T16:21:04+00:00 January 15th, 2021|Crypto News|

Bitcoin (BTC) fell below $35,000 on Jan. 15 as renewed strength in the U.S. dollar piled pressure on the largest cryptocurrency. BTC bounced off support at $34,300 and is trading at $35,300 at the time of writing. BTC/USD 4-hour candle chart (Bitstamp). Source: TradingvidwBitcoin heads back toward $30,000Data from Cointelegraph Markets and TradingView shows BTC/USD hitting its lowest in over 24 hours at publication time on Friday, [...]

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After Ethereum, ‘next stop will be higher risk alts,’ says Bitcoin investor Raoul Pal

2021-01-15T09:00:00+00:00 January 15th, 2021|Crypto News|

As the cryptocurrency market is showing signs of bullish continuation on Jan. 15, Raoul Pal, the CEO of Real Vision Group and an avid Bitcoin (BTC) investor, is optimistic about the price of Ether (ETH). Pal  also says he's looking to add “higher risk alts.”ETH/USDT 4-hour price chart (Binance). Source: TradingView.comIs an altseason coming?Following Bitcoin’s rally above $42,000, many alternative cryptocurrencies, or altcoins, have indeed performed [...]

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Bitcoin chases new high as analyst says ‘smart money never stopped’ buying

2021-01-15T01:42:37+00:00 January 15th, 2021|Crypto News|

The total cryptocurrency market capitalization is back above the $1 trillion level as Bitcoin (BTC) bulls pushed the price back to $40,000 on Jan. 14.Daily cryptocurrency market performance. Source: Coin360Bitcoin price rallied to $40,099 in the early trading hours on Jan. 14 according to data from Cointelegraph Markets and TradingView before pulling back to $39,500. This marks a rapid turnaround from the recent drop below [...]

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$13B Bitcoin futures open interest reflects traders’ strong bullish optimism

2021-01-14T23:13:10+00:00 January 14th, 2021|Crypto News|

Bitcoin (BTC) price recovered by 27% just three days after testing the $31,000 support and earlier today bull recaptured the $40,000 level. This quick recovery occurred despite the digital asset facing one of the largest buy-side liquidations in a single day as $1.5 billion was wiped off the books. Interestingly, futures contract traders appear to have returned with an even larger appetite.After such a large [...]

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0x (ZRX) price rallies 35% ahead of v4 mainnet update

2021-01-14T18:19:40+00:00 January 14th, 2021|Crypto News|

Decentralized exchanges (DEX) are a giant leap in permissionless and transparent trading, and they exist as fantastic alternatives to centralized exchanges. While DEXs ease the process of listing new ERC-20 tokens and remove the need to pay a central authority high listing fees, they stil have the issue of high gas fees. This is precisely the issue 0x Protocol (ZRX) aims to solve.The 0x Protocol (ZRX) [...]

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Ethereum eyes new all-time high after bears unable to sink ETH below $900

2021-01-14T16:00:00+00:00 January 14th, 2021|Crypto News|

Bitcoin’s (BTC) price saw a significant 28% correction during the week from $41,000 to $30,000. At the same time, Ether (ETH) also saw a drop of 32%. The recent high for ETH/USD was $1,350 — or about $70 shy of the all-time high — while the recent low was seen at $910.January has seen heavy volatility in the crypto markets. The sentiment has been flipping [...]

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Bitcoin refuses to ‘die’ as BTC price hits $40K just three days after crash

2021-01-14T15:34:55+00:00 January 14th, 2021|Crypto News|

Bitcoin (BTC) surged higher on Jan. 14, reaching $40,000 on Coinbase amid fresh evidence of new large buys on exchanges.BTC/USD weekly price candles (Coinbase). Source: TradingviewBTC price adds $10,000 in three daysData from Cointelegraph Markets and TradingView tracked BTC/USD as the pair delivered even more bullish surprises during Thursday trading, adding over 17% in 24 hours.The uptick is the latest bullish sign to come from Bitcoin price [...]

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Polkadot skyrockets nearly 30% to $10 billion market cap: What’s behind the rally?

2021-01-14T09:50:13+00:00 January 14th, 2021|Crypto News|

Polkadot (DOT), a network protocol that allows arbitrary data — not just tokens — to be transferred across blockchains, is up nearly 30% in the last 24 hours. Polkadot's market capitalization has also surpassed $10 billion, solidifying its position as the fifth-biggest crypto asset.There are several major reasons behind DOT’s strong uptrend: strong technical market structure, the anticipation of scalable blockchain networks, and the craze [...]

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Is a new rally brewing as Bitcoin reclaims $38K and stablecoins ‘flooding’ exchanges?

2021-01-14T08:03:53+00:00 January 14th, 2021|Crypto News|

The price of Bitcoin (BTC) has extended its recovery on Jan. 14, reclaiming the $38,000 level. What's more, the weekly candle has now turned green for the fifth consecutive week despite the 28% crash earlier this week. BTC/USD Weekly candle chart (Bitstamp). Source: TradingviewMeanwhile, stablecoin deposits are flooding into cryptocurrency exchanges, according to data from CryptoQuant. This inflow may act as a short-term catalyst for Bitcoin [...]

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Bitcoin price rally to $37,850 signals that bulls intend to reclaim $40K

2021-01-13T23:13:11+00:00 January 13th, 2021|Crypto News|

Bitcoin (BTC) price broke through the $35,000 resistance and appears to be stepping into a new range that would see the price trade between $38,000 to $40,000. Today’s recovery from the $34,000 level also appers to have invalidated what looked to be a bearish head and shoulders pattern forming on the 4-hour timeframe. BTC/USDT 4-hour chart. Source: TradingViewReclaiming the $36,000 level as support may also assist [...]

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DEX and interoperability upgrades show TomoChain (TOMO) wants DeFi dominance

2021-01-13T22:14:14+00:00 January 13th, 2021|Crypto News|

The cryptocurrency market started the year in full force and with all the bullish breakouts happening it can be difficult to discern which projects are simply being driven by the macro trend and which are making gains based on solid tech developments and improving fundamentals. As the price of Bitcoin dropped more than $11,000 between Jan. 10 and Jan. 11, a number of altcoins saw double-digit [...]

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3 key reasons why the DeFi sector is booming again

2021-01-13T17:20:00+00:00 January 13th, 2021|Crypto News|

Data from Messari shows that over the past 30 days, the majority of tokens listed on the site’s DeFi Assets index have rallied by more than 20%. A few standouts such as Maker's MKR, Synthetic Network Token (SNX) and SushiSwap's SUSHI gained more than 100% during the same time frame. DeFi assets index. Source: Messari.ioFrom Jan. 1 to Jan. 9, the decentralized finance sector saw its [...]

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