Bitcoin

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The “falling wedge” pattern begins wide at the top and contracts as prices move lower, causing the two descending trend lines to converge as the pattern matures. The converging nature of trend lines represents shallower lows, a sign of decreasing selling pressure. Therefore, a breakout is taken to mean a bullish revival. Source link

Text size Bitcoin continues to trade at less than one-third its all-time high from November 2021. Ozan Kose/AFP via Getty Images … Source link

Text size Bitcoin continues to trade at less than one-third its all-time high from November 2021. Ozan Kose/AFP via Getty Images … Source link

Long-term investors in bitcoin are adding to their stashes as prices decline, despite the generally bleak macroeconomic outlook, with some models suggesting the world’s largest cryptocurrency could be undervalued at the current price range of $20,000-$21,000. The Puell Multiple, a tool that measures one-year revenue growth among bitcoin miners, indicates there’s buying interest among investors and, with a reading of 0.5, places bitcoin in a so-called green zone for those looking to build… Source link

The Bitcoin [BTC] narrative that has prevailed in the last few weeks is that it was still trading at a discount between the $20,000-$22,000 price range. Despite this, it still experienced a lot of selling pressure which pushed the king coin below $20,000. Bitcoin’s inability to stay above $20,000 suggests that there was incoming sell pressure that overwhelmed the prevailing demand. It turns out that some of the selling pressure was due to outflows from miner… Source link

Bitcoin (BTC) starts the second week of September still trying to cement $20,000 as support as bears clinch control. The largest cryptocurrency emerges from a sideways weekend with a weekly close almost exactly at the $20,000 mark — but that significant psychological level is already struggling. Expectations already favored further downside during this month — the so-called “Septembear” phenomenon which normally sees BTC price lose ground in September — and so far, there has been… Source link

Bitcoin [BTC] is looking to add to traders’ woes in September, despite two major upgrades across the crypto-industry. Furthermore, Ethereum is set release the Merge on 15 September while Cardano is set to launch Vasil a week later. These long-awaited upgrades are expected to alter trader sentiment across the industry. However, recent data shows a different story as long as Bitcoin is concerned. CryptoQuant analyst ‘Maartunn’ recently shared his briefing about a highly… Source link

As a disclaimer, the volume data comes from skew, which aggregated across seven trusted exchanges (Kraken, LMAX Digital, ItBit, Bitstamp, Gemini, Coinbase and FTX). As such, the absolute volume number is understated, but it works for comparison purposes. Source link

Ethereum (ETH) creator Vitalik Buterin has an idea for what the state of Bitcoin (BTC) will look like twenty years from now. In a new interview with economist Noah Smith, Buterin says that in the medium term, he thinks crypto assets will become about as volatile as gold or the stock market, moving away from the big bubble and crash phases of the past. The crypto visionary also says that even though crypto could satisfy a few key narratives in the next two decades, mainstream… Source link