Bitcoin

A report published by major U.S.-based crypto exchange Kraken has identified signs the correlation between Bitcoin (BTC), the greenback, and legacy markets, is continuin to weaken. Kraken’s September volatility report found Bitcoin (BTC) largely maintaining a negative correlation with the U.S. Dollar Index (DXY) since May, despite a brief coalescence between the two markets in early September. Bitcoin’s 30-day rolling correlation with U.S Dollar Index: Kraken The report attributes BTC’s… Source link

Bitcoin (BTC) price had been acting inside a narrow range for the last few weeks but the momentum and trend shifted as a bullish breakout occurred on the announcement that Square had allocated 1% of its cash reserves to BTC. This bullish breakout even caused the price to rally from $10,600 to $11,500, which is almost $1,000 in a few days. Despite this strong upside move, traders are still cautious as they are unsure whether the bullish momentum is back or if this is just a temporary blip.

Goldman Sachs, the $71.4 billion investment bank, is reportedly bearish on the U.S. dollar. For Bitcoin (BTC), which has recently rallied above the dreaded $11,100 level, this could serve as a potential catalyst. Bitcoin is heading into the last two months of the year with significant uncertainty. But if the dollar continues to slump, it could buoy the momentum of BTC and gold in the fourth quarter. The daily chart of Bitcoin. Source: TradingView.com Why Goldman Sachs is not optimistic on the… Source link

Bitcoin and cryptocurrency use by terrorists, rogue nations and other criminals has grown in recent years—with high-profile attacks drawing international attention. The illicit use of bitcoin and cryptocurrency ranges from money laundering and tax evasion to extortion, with cyber criminals increasingly demanding bitcoin and crypto payments in ransomware attacks on computer systems. Now, the U.S. Department of Justice (DOJ) has warned the emergence of bitcoin and similar cryptocurrencies… Source link

Bitcoin (BTC) starts the week above $11,000 as fresh gains continue to hold — is $12,000 next or will bears gain control? Cointelegraph takes five factors that could help decide whether this week is bullish or bearish for BTC price action.  U.S. election could send dollar back to 2018 Bitcoin remains sensitive to macro phenomena as Q4 continues, and the U.S. election run-up could produce noticeable turbulence. The outcome of a Democratic win looks bleak for one macro indicator in particular:… Source link

On Oct. 7 Cointelegraph reported that top crypto traders had kept a bearish stance since mid-September and at the time the Bitcoin (BTC) long-to-short ratio had reached its lowest level in 10 weeks. All of this changed in a matter of hours as soon as BTC broke through the $11,000 resistance. Whenever Bitcoin’s volatility gets too low, it usually signals that traders became too complacent. Naturally, there will be periods of range trading, but short-term unpredictability is Bitcoin’s defining… Source link

Bitcoin has been sent to 350 deputies of the Spanish Congress as part of an educational initiative similar to the “Crypto for Congress” campaign that sent bitcoin to all Members of U.S. Congress. Bitcoin Sent to 350 Spanish Lawmakers All 350 members of Spain’s Congress of Deputies have been sent bitcoin worth a euro each as part of an educational campaign, local newspaper ABC reported Thursday. The Congress of Deputies is the lower house of Spain’s parliament; it has 350 members. The… Source link

New data shows Bitcoin’s (BTC) current price action is showing higher levels of ‘HODLing’ activity than previous bull cycles. According to on-chain analyst Willy Woo, an indicator called “reflexivity” has been increasing in recent months. Woo explained that the indicator measures Bitcoin investors’ tendency to hold onto their BTC as its price rises. It’s essentially an alternative way to gauge the HODLing activity of retail investors. Bitcoin market cap gain per dollar invested or… Source link

On early Sunday morning around 1:38:02 a.m. (New York time), approximately 20 blocks with coinbase rewards from 2010 were spent in one block. 1,000 BTC was then consolidated into a single address before moving again. The massive movement of the decade-old ‘sleeping’ bitcoins was caught by an onchain transaction parser and the coins were spent in block 652,204. ** Update, approximately 9.99999943 BTC or $114k worth of the 1,050 bitcoins from 2010 were sent to the Free Software Foundation…. Source link

The U.S. dollar has been under pressure this year, taking a big hit as the coronavirus pandemic wreaked havoc on America’s economy. In the run up to next month’s U.S. presidential election, investors are scrambling to understand how a win for either incumbent Donald Trump or Democratic challenger Joe Biden will move the dollar and currency markets. However, former Facebook FB executive-turned venture capitalist, Chamath Palihapitiya, has warned neither Biden nor Trump will help… Source link