Bitcoin

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Bitcoin (BTC) may soon “decouple” from traditional assets, says statistician Willy Woo as a key gold relationship breaks out of a long-term downtrend. In a tweet on Sep. 25, Woo forecast that Bitcoin would act like a successful startup in accruing new interest and going its own way. Woo: Breakdown of Bitcoin macro correlation to hit “soon” Adoption, he argued, would follow a classic S-curve pattern, much in the same way that a startup grows. This would take precedence over investors… Source link

Today the price of Bitcoin (BTC) abruptly rose by 6% from $10,136 to as high as $10,743.  After this powerful 24-hour rally, analysts are now turning cautiously bullish for various reasons but will Bitcoin price be able to tackle the $11K mark any time soon? Cryptocurrency daily market performance snapshot. Source: Coin360 Currently, the factors that appear to be lifting investor sentiment are negative funding rates, BTC whale activity, and the U.S. dollar’s recent weakness. Funding rates are… Source link

The price of Bitcoin (BTC) has been stagnating in recent weeks, as it couldn’t break above $11,000 and couldn’t drop below $10,000, the ultimate sign of a continued range-bound structure.  Such a range-bound and sideways structure could strengthen some relief on the markets, as the altcoins — especially the DeFi sector — have seen massive selloffs in recent weeks. However, what’s next for Bitcoin as the futures expiration day is tomorrow, which most likely will cause short-term… Source link

The latest Bitcoin (BTC) whale clusters’ data shows four key short-term price levels could potentially act as resistances, namely $10,369, $10,570, $10,734 and $10,842. The hourly map of unspent Bitcoin from whales. Source: Whalemap Whalemap, an on-chain analysis firm that tracks Bitcoin whale activity, observes areas where whales, or high-net worth individuals, accumulate or move their holdings.  Green clusters indicate areas where whales last bought Bitcoin. Given the tendency of whales to… Source link

Bitcoin (BTC) hitting $7,000 is now the “worst-case scenario,” veteran trader Tone Vays said on Sep. 23.  In the latest episode of his Market Pulse YouTube series, Vays said he was looking for a BTC price bottom of $9,000. Vays: $9,000 BTC price is “very good buy the dip” opportunity BTC/USD has maintained $10,000 support this week but has so far failed to reclaim higher levels after its fall from $11,000 several days ago.  “If we break down, I think $9,000 is a very good ‘buy the… Source link

Crypto market data aggregator Glassnode has published data indicating that Bitcoin’s (BTC) realized capitalization has increased by more than 50% since tagging its all-time high of $20,000 at the end of 2017. The realized capitalization metric measures the value of each BTC when it was last moved on-chain, which enables analysts to estimate the aggregate cost-basis of market participants. However, coins on centralized exchanges are absent from the metric, indicating the data is probably… Source link

The bitcoin market continues to display weakness; xDai total value locked shows interest in Ethereum scaling solutions. Bitcoin (BTC) trading around $10,285 as of 20:00 UTC (4 p.m. EDT). Slipping 1.8% over the previous 24 hours. Bitcoin’s 24-hour range: $10,250-$10,575 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since September 21.(TradingView) Bitcoin’s price had remained in a narrow range since Monday, as the… Source link

According to the Bloomberg crypto newsletter, a key on-chain indicator suggests that Bitcoin (BTC) is currently greatly undervalued.  Bitcoin active addresses, the 30-day average. Source: Glassnode. Bloomberg’s crypto analyst Mike McGlone believes that the recent all-time highs in Bitcoin’s hashrate and more importantly, the 30-day average of active Bitcoin addresses, suggests a $15,000 price level for the asset: “The Bitcoin hash rate continues to increase and recently reached new… Source link

The upcoming U.S. presidential election has become one of the most contentious in history, fraught with searing divisions over everything from the economy to race to the continued health of democracy itself.   So it’s not surprising that Wall Street options traders are now pricing in expectations of elevated market volatility around the November election. Analysts for the investment banking giant Goldman Sachs noted earlier this month that price swings of nearly 3% are implied around… Source link