Cryptocurrency Market Analysis

19 01, 2021

Bitcoin breakout ‘imminent’ says hedge fund as analyst targets $48K monthly close

2021-01-19T16:00:00+00:00 January 19th, 2021|Crypto News|0 Comments

A fresh Bitcoin (BTC) breakout is "imminent" and most likely to the upside, hedge fund Vailshire Capital Management says.In a tweet on Jan. 19, Jeff Ross, the firm's founder and CEO, described the outlook for BTC performance as "wildly bullish."Vailshire Capital 'steadfastly long' BTCUsing a combination of on-chain metrics and macro insight, Ross highlighted an upcoming end to the ranging and conolidation seen in the [...]

19 01, 2021

Ethereum price finally beats its 2018 all-time high, surpassing $1,428

2021-01-19T11:55:25+00:00 January 19th, 2021|Crypto News|0 Comments

Ether (ETH), the largest altcoin by market cap, finally reached new all-time highs against the U.S. dollar on Jan. 19.ETH/USD 1-hour candle chart (Bitstamp). Source: TradingviewEther price is back after 3 yearsData from Cointelegraph Markets and TradingView showed ETH/USD beat its existing record during Tuesday trading, passing $1,428 on Bitstamp.$ETHEthereum just made a new all time high on the USD pair.It only took 2 years. Sky [...]

19 01, 2021

‘Pay attention’ — Grayscale adds 18x the Bitcoin mined supply in one day

2021-01-19T09:00:00+00:00 January 19th, 2021|Crypto News|0 Comments

Asset manager Grayscale added 18 times more Bitcoin (BTC) than miners added to the supply in just one day on Jan. 18.As various data sources confirm, Grayscale, which remains the biggest institutional buyer in the Bitcoin space, purchased a total of 16,244 BTC ($607 million) on Monday.BTC buys accelerate againThe giant sums are some of the biggest on record and are an order of magnitude [...]

19 01, 2021

3 reasons why Ethereum has been rising faster than Bitcoin price in 2021

2021-01-19T07:00:00+00:00 January 19th, 2021|Crypto News|0 Comments

The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain network, has been soaring since the beginning of the new year. What's more, it has outperformed Bitcoin (BTC) since Jan. 1, gaining roughly 81% compared to Bitcoin's 26% in their respective USD pairs year-to-date.Bitcoin, Ether YTD performance. Source: Digital Assets DataThere are three main reasons why ETH has been outpacing BTC throughout the [...]

19 01, 2021

Ethereum price inches closer to a new all-time high as Bitcoin consolidates

2021-01-19T04:15:17+00:00 January 19th, 2021|Crypto News|Comments Off on Ethereum price inches closer to a new all-time high as Bitcoin consolidates

Bitcoin (BTC) continues to trade in a tightening range within a pennant pattern and while the price has moved above the 20-day moving average, it's clear that the bulls and bears are fighting over the direction the digital asset will take. Data from Cointelegraph Markets and TradingView show that BTC traded in a range between $34,955 and $37,850 over the weekend but traders buying each dip [...]

18 01, 2021

Binance Coin (BNB) hits a new all-time high one day before its token burn

2021-01-18T23:16:17+00:00 January 18th, 2021|Crypto News|Comments Off on Binance Coin (BNB) hits a new all-time high one day before its token burn

Over the past 6 months, Binance Coin (BNB) has been quietly rallying higher, gaining 189% during this period and notching a new all-time high at $46.90 on Jan. 18. This price peak happened just one day before its quarterly token burn, leading investors to question whether or not BNB price will move higher once the event concludes. A token burn is a permanent removal of coins [...]

18 01, 2021

3 reasons why the price of Curve DAO Token (CRV) tripled in a week

2021-01-18T21:00:00+00:00 January 18th, 2021|Crypto News|Comments Off on 3 reasons why the price of Curve DAO Token (CRV) tripled in a week

Over the past two weeks the entire DeFi sector has been in a strong uptrend and many of the top market cap tokens rallied by double and triple-digits.Curve DAO’s governance token CRV has been a standout performer, coming off a low at $0.54 on Jan. 11 to a 2021 high at $1.78 on Jan. 17. CRV/USDT 4-hour chart. Source: TradingviewThree reasons for this latest surge [...]

18 01, 2021

Yearn.finance eyes new all-time high — Can YFI price reach the next $66K target?

2021-01-18T15:00:00+00:00 January 18th, 2021|Crypto News|Comments Off on Yearn.finance eyes new all-time high — Can YFI price reach the next $66K target?

As Bitcoin’s (BTC) price has been consolidating in recent weeks, many other crypto assets started to show strength. This was largely expected since altcoins generally do better once BTC cools down. Lower volatility in Bitcoin means higher volatility for altcoins as the money flows from Bitcoin to altcoins. Ether (ETH), for example, is now looking to break its all-time high almost a month after Bitcoin's surpassed its own [...]

18 01, 2021

Bitcoin thermocap metric shows BTC price is still in the ‘low end’ of bull cycle

2021-01-18T13:30:00+00:00 January 18th, 2021|Crypto News|Comments Off on Bitcoin thermocap metric shows BTC price is still in the ‘low end’ of bull cycle

Bitcoin (BTC) is still at the “low end” of a 2021 bubble, new data tracking miner and investor behavior suggests. In the latest signal that BTC price action still has major growth potential, researcher Geert Jan Cap showed bullish signs coming from Bitcoin’s thermocap. Thermocap suggests Bitcoin just getting startedThermocap is a metric which aims to track Bitcoin price cycles based on actions taken by miners [...]

18 01, 2021

The case for Bitcoin price dropping to $27K in a possible bearish scenario

2021-01-18T12:00:00+00:00 January 18th, 2021|Crypto News|Comments Off on The case for Bitcoin price dropping to $27K in a possible bearish scenario

Some analysts say that the price of Bitcoin (BTC) could drop to $27,000 in a bearish scenario if it falls through the $30,000 support area.The potential drop to $27,000 is conditional in that BTC would have to break down below $30,500, where it strongly bounced from on Jan. 11. Bitcoin whale clusters. Source: WhalemapWhich is the short-term Bitcoin bottom?In the foreseeable future, there are three [...]

18 01, 2021

Chainlink surpasses Bitcoin Cash making LINK the 8th largest cryptocurrency

2021-01-18T10:15:00+00:00 January 18th, 2021|Crypto News|Comments Off on Chainlink surpasses Bitcoin Cash making LINK the 8th largest cryptocurrency

Chainlink (LINK), the oracle-focused blockchain protocol, surpassed Bitcoin Cash (BCH) to become the eighth-biggest cryptocurrency as of Jan. 18.The market capitalization of Chainlink now hovers at $9 billion and roughly $500 million away from the next biggest crypto asset, Litecoin (LTC).LINKUSDT 1-day price chart (Binance). Source: TradingView.comWhy is Chainlink surging so rapidly?The price of Chainlink rose by 13% in the last 24 hours and the [...]

18 01, 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|Comments Off on Bitcoin meets Biden: 5 things to watch for BTC price this week

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 [...]

18 01, 2021

Bitcoin gets physical: Art or digital heresy?

2021-01-18T04:48:16+00:00 January 18th, 2021|Crypto News|Comments Off on Bitcoin gets physical: Art or digital heresy?

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, [...]

18 01, 2021

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

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. [...]

17 01, 2021

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

2021-01-17T21:55:38+00:00 January 17th, 2021|Crypto News|Comments Off on Hedge fund predicts $115K Bitcoin price and the fall of ‘speculative’ altcoins

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 [...]

17 01, 2021

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

2021-01-17T18:57:33+00:00 January 17th, 2021|Crypto News|Comments Off on Top 5 cryptocurrencies to watch this week: BTC, LINK, UNI, XTZ, ATOM

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 [...]

17 01, 2021

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|Comments Off on DeFi bull run: Why Aave and SUSHI are surging despite Bitcoin price uncertainty

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: [...]

17 01, 2021

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

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 [...]

16 01, 2021

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

2021-01-16T21:30:00+00:00 January 16th, 2021|Crypto News|Comments Off on Traders say Bitcoin price ‘needed pullback’ to maintain bullish momentum

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. [...]

16 01, 2021

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

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 [...]

16 01, 2021

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

2021-01-16T18:05:46+00:00 January 16th, 2021|Crypto News|Comments Off on Ethereum competitor Near Protocol (NEAR) gains 106% as DeFi heats up

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 [...]

16 01, 2021

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

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 [...]

16 01, 2021

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

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 [...]

16 01, 2021

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

2021-01-16T00:25:20+00:00 January 16th, 2021|Crypto News|Comments Off on Bitcoin bulls buy BTC’s $35K support retest as altcoins push higher

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 [...]

15 01, 2021

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

2021-01-15T16:21:04+00:00 January 15th, 2021|Crypto News|Comments Off on Bitcoin slides under $35K despite Biden unveiling $1.9 trillion stimulus

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, [...]