Bitcoin

On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1.  Cryptocurrency daily market performance snapshot. Source: Coin360 The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tuesday, providing enough momentum for bulls to push above the ascending channel to $12,038. BTC futures volume by exchange. Source: Digital Assets Data The rally to $12K was also… Source link

On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery. The firm concluded that “CME Bitcoin futures contribute more to price discovery than its related spot markets.” And the researchers also suggested that: “CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price… Source link

Within the past few hours, Bitcoin price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities. The general sentiment around Bitcoin (BTC) among analysts and traders remains positive, and multiple on-chain analysts say that Bitcoin has been behaving like a safe-haven asset…. Source link

The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200. This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already.  However, other cryptocurrencies haven’t been following in Bitcoin’s… Source link

The cryptocurrency market has suddenly shifted back to Bitcoin (BTC) after several months of a decentralized finance (DeFi) frenzy. While market cap dominance remains below 60%, earlier this month, the trading dominance of BTC has spiked to levels not seen since 2017 when the price hit an all-time high at $20,000. The trading dominance of Bitcoin against other major cryptocurrencies. Source: TheTie Due to the growing dominance of Bitcoin in terms of market volume, the alternative… Source link

Bitcoin prices have remained above $11,000 since October 10, trading within a reasonably tight … [+] range. (Photo by Chesnot/Getty Images) Getty Images Bitcoin prices have been trading north of $11,000 for more than a week, seemingly gathering strength above that level. The digital currency has rallied this year, climbing more than 200% from under $3,900 in March to more than $11,800 today, CoinDesk data shows. While it has experienced some notable… Source link

Tucked away on a quiet street in Berlin’s Kreuzberg district, Room 77 had the look of your typical dive bar – until you paid attention to the details. If you did, you’d notice the grungy scene was punctuated with cypherpunk paraphernalia. One brick wall overlooking a row of booths was populated by the portraits of Ross Ulrbicht, Edward Snowden and Julian Assange. Adjacent to these crypto-anarchy icons, a currency burner (which does exactly what you think it does) sat where an arcade… Source link

Bitcoin’s biggest rally in more than a week has pushed it to the brink of $12,000, a key level watched by chartists and technicians. The world’s largest digital currency rose as much as 3.4% on Monday to around $11,835. Crypto fans are closely watching the $12,000 level as a major hurdle to cross before it can embark on a bigger rally. … Source link

Old hands are selling their Bitcoin (BTC) holdings, according to glassnode’s Coin Dormancy metric. As shown below, dormant addresses selling BTC marked previous tops in BTC. Coin Dormancy of Bitcoin. Source: glassnode On-chain analyst Willy Woo said old hands reliably sold the top until the most recent price cycle. He wrote: “Dormancy is a measure of ‘old hands selling out.’ It’s interesting to see old hands reliably sold tops until this present cycle. They sold the #bitcoin bottom at… Source link

According to new data from Statista, only 7% of Americans have previously used Bitcoin (BTC). This means current investors in BTC are still in an early stage of growth. Dan Tapiero, the co-founder of 10T Holdings, said Bitcoin is still at the “birth” phase of a new asset class. He wrote: “It’s still so early for Bitcoin. Still at the birth of a new global asset class.” In the longer term, Bitcoin has significant growth potential to evolve into an established store of value, like gold…. Source link