Bitcoin

Bitcoin rose toward $61,000 on Thursday, albeit within a choppy trading range. Analysts have mixed views about the short-term direction of BTC’s price, which is up about 2% over the past 24 hours. On Wednesday, El Salvadorian President Nayib Bukele tweeted that his government had “bought the dip,” adding an additional 420 BTC to the treasury, the equivalent of around $25 million. That purchase was one reason behind today’s price bounce. Bitcoin’s price has whipsawed over the past… Source link

“Some believe what is happening is a quick balancing process and preparation before the push for new highs, while others think it’s the beginning of a broader correction that will take BTC to $45K-$50K,” FxPro analyst Alex Kuptsikevich, wrote in an email to CoinDesk. Kuptsikevich also mentioned that technical price indicators are retreating from overbought levels, which could lower the odds of a sustained correction. Source link

Bitcoin. Sean Gladwell Sean Gladwell Crypto miners hanging onto their bitcoin are creating “supply shocks,” Kraken said in a blog Thursday. The supply shocks are helping to boost bitcoin prices even further. The trend indicates bitcoin’s bull run may have farther to go, Kraken said. Crypto miners are stockpiling bitcoin, driving a supply shock and setting the world’s most popular cryptocurrency up for further gains. In a report from Kraken, the crypto exchange said that… Source link

Bitcoin (BTC) investors will resist selling their coins for a lot longer and the bull run will continue, new analysis argues.  In a Twitter debate on Oct. 28, data analyst Mitch Klee delivered fresh evidence that the current bull run is only 50% complete. RHODL demands more upside Using the Realized HODL Ratio (RHODL) indicator, created by popular analyst Philip Swift, Klee showed that Bitcoin is still far from the classic top signals it gave at the height of previous bull markets. RHODL is… Source link

The price of one bitcoin fell more than 5% Wednesday and was trading around $59,000, 12% below last week’s record levels. For any other asset, like a stock or bond, a drop that steep in such a short time would be considered a market correction. For bitcoin, it’s just business as usual. Crypto investors have come to accept that bitcoin is volatile. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap — ranging from dogecoin and shiba inu to more obscure tokens with even goofier… Source link

Bitcoin slid below US$60,000 as euphoria over the first U.S. crypto ETF dissipated and traders took profits following a record-breaking rally.  The biggest digital asset by market value fell as much as 6.4 per cent to US$58,132, reaching the lowest intraday price in almost two weeks. It climbed to US$66,976 on Oct. 20. Ether also sank about 6 per cent and smaller tokens took a hit, with Dash and EOS each tumbling more than 10 per cent. The Bloomberg Galaxy Crypto Index, which tracks some… Source link

Bitcoin is trading with a heavy tone amid signs of excess leverage and greed in the market. The largest cryptocurrency by market value was changing hands near $58,900 at press time, representing a 2.3% drop on the day. It is down 12% from last week’s record high of $66,975, CoinDesk 20 data shows. A pullback was overdue, and more downside volatility could be in the offing, according to analysts. “Estimated leverage ratio is about to hit a year-high. It seems obvious that the market is… Source link

Last week, bitcoin had almost touched $67,000. Photo: Reuters Bitcoin’s price crashed on Wednesday morning, falling below $60,000 (£43,725), just a week after hitting a new all-time high. At the time of writing, bitcoin (BTC-USD) was down roughly 6% to trade at $59,115. Last week, it had soared to an all-time high of around $67,000, a day after the first-ever bitcoin futures exchange-traded fund (ETF) in the US made its debut on the New York Stock Exchange (^AMZI). Ethereum (ETH-USD), the… Source link

Bitcoin (BTC) fell sharply on Oct. 27 as $60,000 finally gave way to two-week lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bites into major buy wall Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $58,000 at the time of writing, hitting its lowest since Oct. 15. The move follows multiple retests of $60,000, with Bitcoin now taking liquidity in a large support wall with $57,000 as its base. Analysts, as Cointelegraph reported, were already… Source link

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