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Tomiwabold Olajide Bitcoin, Ethereum and other altcoins show signs of impending price move According to the MVRV divergence, on-chain analytics firm Sanitment suggests that Bitcoin, Ethereum and other altcoins are currently “underbought.” 📊 One of @santimentfeed‘s most popular metrics, MVRV, indicates that short, mid, and long term timeframe trading returns are at ‘pain’ thresholds that historically foreshadow oncoming price turnarounds. When this turnaround will happen is the… Source link

On-chain data shows Bitcoin funding rates have sunk into deep negative values, something that could pave way for a short squeeze in the market. Bitcoin All Exchanges Funding Rate Has A Red Value Right Now As pointed out by an analyst in a CryptoQuant post, BTC may see a slight uplift in the short term because of the current funding rates. The “funding rate” is an indicator that measures the periodic fee that Bitcoin futures long and short traders exchange… Source link

The Litecoin price analysis is bearish today as the LTC price is following a downwards trend again. The coin has marked a lower low at $50.1 as the bearish trend has been gaining strength since yesterday. LTC/USD has been on a downtrend after the price last peaked at $58.7 on 25 June 2022. However, the coin was following an uptrend prior to this. Overall the coin price has been sliding down after 15 November 2021 as the major bearish trend is eminent on the price chart, and the crypto pair… Source link

Bitcoin (BTC) needs to go lower before putting in a macro bottom, one of the market’s most accurate indicators shows. Data from sources including on-chain analytics firm Glassnode shows Bitcoin’s MVRV-Z Score is almost — but not quite — signaling a price reversal. MVRV-Z Score inches towards macro bottom Amid ongoing debate whether if, or when, BTC/USD will go beyond its current macro lows of $17,600, new figures suggest that the market easily has further to fall. As noted by Filbfilb,… Source link

Various factors impacting Bitcoin’s price include the supply and demand of BTC, competition from other cryptocurrencies and news, cost of production and regulation. Supply and demand Those with a background in economics are aware of the law of supply and demand. However, if you are unfamiliar with this concept, let’s help you to understand. As per this law, supply and demand market forces work together to determine the market price and the quantity of a specific commodity. For instance, the… Source link

Others such as Chris Terry of lending platform SmartFi say they expect bitcoin to trade in a fairly narrow range in the short term. “The feeling of the trading desk is that if bitcoin stays in the $18,000 to $20,000 [range], it’s going to be a long drawn out, and we could be in this trading range now for weeks,” he said. Source link

The richest non-exchange Bitcoin wallet is on a BTC shopping spree as the crypto market downturn continues. The wallet, ranking third in Bitcoin holdings behind two crypto exchange wallets, bought 4,816 BTC over the past month, splurging over $102 million in the process. At the start of June, the Bitcoin wallet in question held 127,873 BTC. Over the last month, the wallet has made numerous Bitcoin acquisitions in varying amounts and only one withdrawal to bring the total to… Source link

President of El Salvador Nayib Bukele must truly believe in Bitcoin—or love losing money. Undeterred by the massive losses incurred by his strategy of using public funds to invest in Bitcoin, Bukele announced last night that he spent another $1.5 million to buy 80 BTC at $19,000 per coin. “El Salvador bought today 80 BTC at $19,000 each,” the Central American politician tweeted, “Bitcoin is the future, thanks for selling cheap,” he said. Prior to this latest announcement, Bukele had… Source link

Ethereum [ETH] concluded June with a 27% bearish push in the last five days of the month after enjoying a brief relief rally. The bearish end of June resulted in the token dropping below $1,000, followed by a pullback. Could this be a sign of a strong buy wall within the $1,000 price level? June was one of the most bearish months for ETH in recent history. It dropped from a monthly high of $1,972 at the start of the month, to a monthly low of $881 on 18 June. ETH fell below… Source link

Litecoin price analysis reveals that the LTC/USD prices have spiked high as the bullish momentum continues to inflate. The current market trend is very strong and there is a possibility that the prices might test the $58.00 resistance level soon. For now, support for Litecoins price is present at $50.39. The LTC/USD prices have been on a bullish run for the last 24-hour and this rally has taken the prices to new yearly highs. The price has increased by over 5 percent in the past 24 hours… Source link