Bitcoin has suddenly shot higher, climbing after the expiration of $4.2 billion worth of bitcoin options contracts—allowing investors to buy or sell bitcoin at a specified price within a set time period—sent shockwaves through the crypto market. The bitcoin price, still on track to end April down, jumped around 5% after the options expiry, climbing to just over $57,000 per bitcoin before falling back—though “joke” cryptocurrency dogecoin has left bitcoin in the dust this week. … Source link

As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion. However, Ether contracts were only launched a couple of months ago. Both FTX and Deribit require 100% full-KYC for their clients, and these markets… Source link

When the price of bitcoin declines, it’s common to see the terms “crash” and “correction” used more or less interchangeably. However, the two words actually mean different things. Bitcoin crash A crash is widely regarded in traditional finance as an over-10% drop in price over the course of a single day. These are often fueled by impactful, sudden changes in the crypto market that cause panicked investors to exit en masse.  While technical factors can have dramatic effects on… Source link

You may have heard a lot about Ethereum, a form of cryptocurrency that’s been around since 2015 and was created as an alternative to Bitcoin. Here’s what you need to know about it in a nutshell. First, Ethereum is not actually the name of the cryptocurrency. Rather, it’s the name of a specific blockchain, a decentralized distributed electronic ledger that keeps track of all transactions in a public manner, as well as the name of a programming language to run and develop upon that blockchain.

After finding support at $225, Litecoin (CRYPTO:LTC) is soaring, up about 30% in the past week. Support is a large concentration of buyers gathered at the same price level. In this case, it was $225. At support levels, there is more demand than supply. That’s why sell-offs end when they reach them, and that’s what happened here. Sometimes stocks or cryptos rally after they fall to support levels. This occurs when some of the buyers sense the presence of the… Source link

During a continued divergence in the crypto markets, where ether posted new all-time highs while bitcoin wallowed at levels almost $10,000 below its peak, the politics and buzz around both continue to spur thought and debate.  In the spirit of that, this week’s newsletter dives into Iran’s ostensibly pro-bitcoin strategy and shows how it contravenes the level playing field values on which bitcoin is built. It also looks at the explosion in non-fungible token (NFT) sales and offers a… Source link

The first half of 2021 has so far offered some significant opportunities for bitcoin bears to be wrong. The most salient of them came this past Sunday, when the bitcoin price suddenly dropped to $47,073.37, down from a freshly set all-time high (just 11 days old), of $64,888.99.  That drop of 27.5% in less than two weeks put bitcoin into bear market territory, at least as far as the normal definition of a bear market is concerned. In equities, the term “bear market” usually applies when… Source link

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice After hitting the resistance level of $296.74, Litecoin saw its price retrace by almost 38% on the charts. Alas, even though a later recovery pushed the price of the digital silver towards $265 at press time, market momentum was still lacking. Litecoin daily chart Source: LTCUSD on TradingView Litecoin’s daily chart suggested that the crypto’s price had… Source link

It looks like Ethereum (CRYPTO:ETH) will continue to consolidate in the near term. Securities tend to make rapid and large moves higher after they break resistance levels. At these levels, there are large groups of sellers. If the level “breaks,” it means these sellers have finished. With this large amount of supply off the market, buyers will need to pay higher prices. This is what causes rallies. See Also: Here’s Why JPMorgan Believes Ethereum Will Continue… Source link

Litecoin price shows a massive spike in buying pressure, pushing it closer to pre-crash levels. The supply barrier extending from $296.75 to $317.09 is the only hurdle preventing LTC’s 65% upswing to $439.41. A breakdown of the demand zone’s upper trend line at $217.97 will invalidate the bullish outlook. Litecoin price shows a resurgence of buyers, which has pushed it past some resistance levels. A continuation of this bullish momentum could see LTC retest a… Source link