“Sophisticated passive buying” on Bitcoin (BTC) spot exchanges coincides with the trend of BTC leaving exchanges to cold storage. Adjusted Bitcoin supply shock. Source: Willy Woo The price recovery witnessed in the Bitcoin market across the last two weeks coincided with a rise in hodlers and speculative investors selling their coins, according to data provided by researcher Willy Woo. Nonetheless, BTC’s price ability to withstand the selling pressure meant there was buying pressure coming from… Source link

The price action for Bitcoin (BTC) continues to tantalize investors and once again, concerns over the state of the global economy and rising inflation have prompted warnings that the Fed’s upcoming interest rate hikes could do more damage then good to the state of the market. Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC has hovered near the $43,000 support level in trading on Feb. 11 after rallying 20% from the $37,000 leve over the past week. BTC/USDT 1-day… Source link

One of the leaders of the privacy coin sector, the price of Monero has taken a beating on the charts. A few months ago, Kraken had to delist Monero due to regulatory compliance reasons in the UK. News such as these could deflate investor confidence in the coin. At the time of writing, the coin was trading at an area of supply at $180- but bulls might be forced to retreat once more. XMR- 12H Source: XMR/USDT on TradingView In May 2021, the price of Monero shot to $519 per coin, but since… Source link

News Home Friday, February 11, 2022 04:44 PM | InvestorsObserver Analysts InvestorsObserver gives Monero an average long-term technical score of 59 from its… Source link

Analysts and pundits will scramble to find some angle to explain intra-day price action whenever important economic numbers are published and this practice is commonplace in the crypto sector.  When the United States Bureau of Labor Statistics reported a 7.5% increase in the Consumer Price Index (CPI) on Feb. 10, traders rushed to find some connection to the crypto price action. However, historical correlation data shows investors should actually closely scrutinize whether there is even a… Source link

Uber customers will eventually be able to use bitcoin to pay for their trips, according to the ride-hailing app’s top boss – though the company is waiting for a couple of improvements before it gives the green light. Uber CEO Dara Khosrowshahi said the company is “having conversations all the time” on whether it should begin to accept cryptocurrencies as a form of payment. “Is Uber going to accept crypto in the future? Absolutely, at some point,”… Source link

The relative strength index (RSI) on the daily chart approached oversold territory on Wednesday, which preceded the recent downturn in price. On the weekly chart, however, the RSI is rising from oversold levels similar to what occurred in March 2020, which could keep buyers active over the short term. Source link

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Image source: Getty Images While Bitcoin leads the crypto space in market cap, it’s draggin’ wagon when it comes to price growth this year. Here are three cryptos currently outperforming BTC. Key points While Bitcoin dominates the crypto industry with its $829 billion market cap, its price is… Source link

Bitcoin (BTC) hovered above $43,000 on Feb. 11 as volatility waned after a fresh local peak. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Support and resistance zones narrow Data from Cointelegraph Markets Pro and TradingView showed BTC/USD awaiting a trigger to test either support or resistance nearby as Wall Street opened on Feb. 11. The largest cryptocurrency had seen difficult moves for traders after Feb. 10’s U.S. CPI data, this causing pain for longs and shorts alike as… Source link