The prices of gold, silver, and Bitcoin (BTC) are all rallying in tandem, as various macro factors boost alternative assets. As gold rose to a new all-time high at $2,055, BTC rallied to $11,715 on the day, recording a 4.28% increase.Gold-USD. Monthly chart. Source: TradingView.comAs the three assets see stronger momentum altogether, there are three factors to consider. These are: gold’s correlation with Bitcoin, the [...]
The sudden $1,500 drop in Bitcoin (BTC) price on August 2 caused over $1 billion worth of liquidations on futures contracts and also led to a sharp decline in the price of many top altcoins. This massive figure represents 18% of the total $5.6 billion open interest and undoubtedly caused the exaggerated move down to $10,560.Interestingly, futures open interest recovered half of this loss in less [...]
Without a doubt, one of the best-performing cryptocurrencies in the past few years is Chainlink (LINK). In recent days, the cryptocurrency surged from $6.80 to $9.30 capping a 40% percent move and becoming the number nine cryptocurrency by market capitalization. Can Chainlink continue moving upward and even reach the magical number of $10 or higher?Crypto market daily performance. Source: Coin360Chainlink rallies with 41% since the crash [...]
Most markets are rallying since receiving a severe shakeout throughout the weekend, during which the price of Bitcoin (BTC) fell by $1,400 in minutes below the $11,000 level, liquidating $1 billion in futures along the way. However, one of the most reliable coins in recent days has been Ripple’s XRP token as it rallied 40% in the past seven days and more than 70% from recent [...]
A recent report by cryptocurrency research firm, Zubr, found that despite being extremely volatile when compared to traditional asset classes, Bitcoin (BTC) maintains a “market equilibrium” nature for the majority of the time. The report just a few days after Bitcoin rallied beyond the $12,000 mark and its volatility finally recovered from a multi-year low.Using data from CoinAPI, a cryptocurrency market data provider, Zubr found that [...]
Yesterday saw many major altcoins rally to their yearly highs, with Ether (ETH) surging past $400, which I expected was a likely scenario in my last article two weeks ago. In addition, XRP also had a bumper day exceeding $0.32 while momentarily outperforming Bitcoin as expected in my July 1 article. However, Bitcoin showed its dominance in the space by wiping out several billion of these gains [...]
The price of Bitcoin (BTC) has seen a great week with a surge to $11,700. After two months of consolidating inside a range, the price of Bitcoin finally broke through the psychological barrier of $10,000 and currently faces the final hurdle before the bull market can start. Most often, people become bullish once they see green candles, with which extraordinary targets can be found on social [...]
A total of 106,000 Bitcoin (BTC) futures contracts and options expired today, and this has investors curious about how BTC price may respond, leading into and after the expiry. Bears were not expecting the most recent run to $11,000, especially after two months of sideways trading activity.The 52% increase in Bitcoin futures’ aggregate open interest increase in July indicates that sellers are either excessively confident or [...]
In July 2016, a mere four years ago, Nvidia was a $26-billion company focused on GPU chips and graphic card production. In comparison, the long-standing sector leader was Intel Corp, with a $166-billion market capitalization. The nearly 40-year old chip manufacturer was a blue-chip Fortune 500 company and at the time, it was likely unfazed by such a small competitor.Nvidia’s previous peak market capitalization occurred in [...]
As July comes to a close, the amount of Bitcoin (BTC) held by major cryptocurrency exchanges has reached its lowest level since late May 2019. At that time, Bitcoin’s price was around $8,000 before continuing toward its 2019 high of $12,967 on July 11, 2019. Roughly 10% of Bitcoin held by exchangesThe Bitcoin balance held by major exchanges has been dropping significantly since mid-March 2020 following [...]
Altcoins got crushed in their respective BTC pairs as Bitcoin (BTC) price decided to break out of the two-month-old range and reach as high as $11,400.However, some altcoins did relatively well and a few top-10 cryptocurrencies showed strength while the price of Bitcoin was climbing. These included EOS (EOS), Litecoin (LTC) as well as XRP (XRP), which also showed strength by reaching a price level [...]
Bitcoin (BTC) price finally woke up and surged to a new 2020 high but as the markets surged past $10,000, some traders seem to have opened excessively leveraged long positions. This effect became more noticeable as the funding rate for perpetual contracts reached the second-highest level this year at 12.4% per month.Funding alone shouldn’t be considered a red flag, especially in short-term periods. The problem lies [...]
The price of Bitcoin hit $10,463 on BitMEX, slightly below the previous peak in June. But two indicators are signaling a BTC cool-off: TD9 and exchange inflows.The price of Bitcoin tests a crucial resistance level. Source: Raoul PalThe TD9 is a trend-reversal indicator that is a part of the TD sequential system. It typically indicates if a rally or a correction is over-extended.Similarly, exchange inflows, [...]
The price of Bitcoin (BTC) held the crucial support level of $9,000, after which a rally to $9,600 occurred, as anticipated in last week’s technical analysis. Nevertheless, the overall market trend for BTC price has not broken out of its range since the halving in May.The support area is $8,800-9,000, while the resistance can be found between $10,100-10,300. The volatility and volume have been decreasing [...]
There are few indicators capable of accurately detecting professional traders’ sentiment on Bitcoin (BTC). To ascertain whether or not market participants are positioned in a bullish or bearish manner, analysts usually rely on technical analysis and derivatives markets, although those usually mix retail flow. More recently some exchanges created internal metrics exclusively measuring top traders positions. Looking at exchange-provided data highlighting traders’ long-to-short positioning, one can [...]
Since the start of the week Ether (ETH) has gained more than 17% and the gains appear to be connected to increasing stablecoin use and the rise of DeFi applications. As reported by Cointelegraph, Ethereum network usage surpassed Bitcoin’s, doubling the volume settled over the entirety of 2019.Another possibly bullish factor in the background is the Ethereum 2.0 final testnet scheduled for August 4. This appears [...]
Recently the Grayscale Bitcoin Trust Fund (GBTC) premium to net asset value (NAV) reached its lowest level since November 2018. This premium shows that traders are paying more for GBTC shares than the underlying Bitcoin (BTC) quantity held by the fund.This difference is caused mostly due to retail investors inability to purchase shares directly from Grayscale Investments, whose funds are aimed exclusively for accredited investors.Currently, [...]
At the start of this week, Bitcoin’s (BTC) volatility, or the average daily oscillation, dropped to its lowest level since November 2018 (when the infamous $6,000 support finally broke).Prior to today’s mild breakout to $9,437, the last significant move above 1% was on July 9 when the price dropped 2.1%. Generally, Bitcoin price has been trading in a tightening range for the past month so [...]
Recently, the price of Bitcoin (BTC) has been showing virtually zero volatility. This volatility decreased particularly as of late while Bitcoin was resting on the crucial support level of $9,000.But on July 21 Bitcoin finally made a sudden move, as expected in the latest analysis, and the price surged from $9,100 to $9,400. So is volatility back or is this just nothing more than a [...]
Since Bitcoin (BTC) price rallied above $19,000 in 2017, crypto analysts have issued an amazingly wide range of price predictions on the date and value of the next all-time high or low. Sometimes these predictions are rooted in deep fundamental and technical analysis, whereas other times they are simply nothing more than off-the-cuff estimates issued at whim. Options markets provide useful insights into traders' expectations, including mathematical [...]
Not a day goes by without someone shilling something related to Decentralized Finance (DeFi). It’s being touted as being bigger than the 2017 altcoin boom, and when you look at things like the monstrous Tether market cap, the recent surge in the price of Chainlink as well as DeFi platform Celsius recently exceeding $1 billion in crypto deposits, it's clear that these are well-founded claims. However, [...]
The price of Bitcoin (BTC) has been continuing the previous week’s weakness as the support of $9,000 has been tested many times. However, the market itself is not acting bearish because altcoins such as DOGE, for example, are surging left and right. Is the market ready for a momentum shift and a big volatile move by BTC, the top-ranked cryptocurrency by market capitalization? Crypto market daily [...]
Bitcoin’s (BTC) consistent failure to break the $9,400 level over the past three weeks has led to some analysts becoming skeptical about the chance of a positive breakout. Although the $9,000 support has been holding strong for the past 50 days, any slightly negative indicator tends to get more attention from media and pundits. Recently, crypto media has focused on Bitcoin’s 25 day skew as proof that [...]
Nestled between the Julian Alps and the Adriatic Sea, in a beautiful corner of Europe often ignored by international visitors who flock to nearby Veneto or the Dalmatian Coast, is Slovenia – a nation that gained independence from the former Yugoslavia in 1991.As one of those travelers who was flocking to Venice, I accidentally stumbled into Slovenia several years ago only as a consequence of [...]
On July 13 Chainlink (LINK) rallied more than 34% to reach a new all-time high at $8.48. Since then the price corrected back to the $7 range but at the time of writing the altcoin is making a renewed attempt at taking out the recent all-time high.LINK has rallied 167% in 2020 and remains one of the top performers in the crypto market but this [...]
