Bitcoin

Bitcoin rallied near $43,000 on Friday as short positions continue to unwind from the second quarter sell-off. The world’s largest cryptocurrency by market valu is up about 1% over the past week compared to a 17% gain in ether over the same period.  Some analysts are optimistic about the broad crypto rally and see further upside, especially for ether. On Thursday, ether rallied past $2,600 as the latest hard fork upgrade, which was dubbed “London,” officially activated on the Ethereum… Source link

Key Takeaways Bitcoin has claimed $40,000 as support, generating a short squeeze.  More than $180 million worth of short positions were liquidated as prices rose. With shorts liquidated, BTC could climb to $47,600.  Share this article Bitcoin has sliced through a crucial resistance level that was preventing it from achieving its upside potential. Bitcoin is Breaking Out Bitcoin looks ready to rally. Doubters have been trying to short the asset in recent weeks, but prices continue to… Source link

Crypto investors have thrown caution to the wind, as evidenced by the recent rise in the ether–bitcoin (ETH/BTC) price ratio, and the trend looks set to continue.  “ETH/BTC shows a bullish breakout, and that’s a sign of market-wide risk-on where alternative cryptocurrencies tend to outperform BTC,” Katie Stockton, founder and managing partner at Fairlead Strategies, said.  Some crypto investors see bitcoin, the biggest cryptocurrency by market value, and stablecoins as safe-haven… Source link

Bitcoin’s (BTC) price rallied to a multi-month high at $43,231 on August 6 and this allowed the digital asset to break free of the trading range it had been stuck in since May.  Data from Cointelegraph Markets Pro and TradingView shows that after trading sideways through the early morning hours on Friday bulls staged a rally that lifted the price of Bitcoin (BTC) to an intraday high at $43,231, its highest level since May 19. BTC/USDT 4-hour chart. Source: TradingView Throughout the week,… Source link

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On-chain analyst Willy Woo asserted that Bitcoin (BTC) would break above the $42,000-resistance level in its coming attempts. The researcher based his bullish analogy on the so-called Rick Astley indicator, a heat-map that tracks investors—the Rick Astleys of this world—that buy Bitcoin to hold the asset for longer timeframes. The indicator earlier predicted Bitcoin price spikes based on investors’ buying activity below certain technical resistance levels. Investors’ buy-and-hold habits… Source link

Bitcoin (BTC) and Ether (ETH) are due for a “huge” move, but short-term signals suggest a correction, an analyst warned on Friday. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Buy into resistance? “Not interested” Data from Cointelegraph Markets Pro and TradingView showed both BTC/USD and ETH/USD acting near critical range resistance as the week drew to a close. A late surge the day before punctuated an overall downtrend after swift upside throughout the previous week,… Source link

Developers successfully completed a ‘hard fork’ of ethereum on Thursday, essentially changing the underlying code that the cryptocurrency relies on to run. Photo: Jakub Porzycki/NurPhoto via Getty A successful change to the code underlying the world’s second biggest cryptocurrency ethereum (ETH-USD) has helped improve sentiment and drive crypto prices higher. Developers successfully completed a “hard fork” of ethereum on Thursday, essentially changing the underlying code that the… Source link

The United States tax bill, which could hurt Bitcoin (BTC) and crypto holders, will “continue the plunder of future generations,” Cameron Winklevoss argues. According to new estimates, the proposed Infrastructure Bill currently under discussion in Washington would pile on an extra quarter of a trillion dollars in debt. Bill may add $256 billion in debt As the contentious bill makes its way through government, crypto voices continue to warn about a potential tax nightmare, which, they… Source link

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