The wider cryptocurrency market entered a period of consolidation on July 27 following Bitcoin’s (BTC) brief spike above $40,000 the day before that helped ignite a rally across the market and brought a renewed sense of optimism to the market. Data from Cointelegraph Markets Pro and TradingView shows that a mid-day attempt by bulls to
Market Analysis
Bitcoin (BTC) traded steady on July 27 after a surge above $40,000 resulted in higher levels broadly holding. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView All eyes on Bitcoin higher lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $37,000, around 8.8% below the peak of Monday’s gains. Its first trip above $40,000
A renewed sense of optimism has returned to the cryptocurrency ecosystem on July 26 as Bitcoin’s (BTC) recovery above $38,900 has sparked a market-wide rally in the altcoins. Data from Cointelegraph Markets Pro and TradingView shows that the top movers over the past 24 hours are Amp (AMP), Venus (XVS) and Reserve Rights (RSR). Top
On Crypto Twitter, a surge of attention directed at a coin often comes in response to dramatic price action. Quite naturally, rallying assets attract the attention of traders and take over Twitter conversations, which can also create positive feedback loops that further prop up the momentum. This is exactly what happened with some of the
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week SpaceX owns Bitcoin, Elon Musk and Nic Carter believe BTC
Bitcoin (BTC) has become considerably more decentralized in the past year, one metric suggests — and the trend is growing. According to data from on-chain data resource Blockchain, hash rate distribution is increasingly favoring small, unknown miners. Small guys increase slice of mining pie Despite the past twelve months seeing a large price run-up, Bitcoin
Bitcoin (BTC) has better probability of recovering back to $60,000 than to break below its current support level of $30,000 and target $20,000, believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence. A screenshot from McGlone’s latest analysis on the flagship cryptocurrency, first shared by Bloomberg’s senior ETF analyst, Eric Balchunas, shows him comparing Bitcoin’s ongoing
This Friday’s weekly Bitcoin (BTC) options expiry currently holds a $330 million open interest. Considering the recent struggle to regain the $32,000 support, this event is an important test of bulls’ willingness to display reversion signs. On July 21, Alameda Research announced that the company made Bitcoin purchases below $30,000, and Sam Trabucco, the firm’s
Bitcoin’s (BTC) painful plunge below $30,000 on Tuesday turned into a so-called “buy the dip” opportunity for Alameda Research, a Hong Kong-based quantitative trading firm and liquidity solutions firm headed by FTX-famed Sam Bankman-Fried. The company’s quantitative trader Sam Trabucco revealed late Tuesday that they purchased Bitcoin during its latest price decline, adding that their
There’s no doubt that the last couple of months have been bearish for Bitcoin (BTC), but throughout this entire period, derivatives indicators have been relatively neutral. This could be because cryptocurrencies have a strong track record of volatility, and even 55% corrections from all-time highs are expected. After two months of struggling to sustain the
Billion-dollar investment firm Rothschild Investment Corp quadrupled its exposure to Bitcoin (BTC) since April, new records show. In a filing with the United States’ Securities and Exchange Commission (SEC) on July 17, Rothschild confirmed that it now owns 141,405 shares of the Grayscale Bitcoin Trust (GBTC). Rothschild GBTC shares near 150,000 A quiet but nonetheless
Bitcoin (BTC) breaking below $30,000 has cost it almost all of its 2021 bull run gains — but a historic silver lining is ready to rescue bulls. Data from crypto exchange Binance’s order book confirms that BTC/USD has almost dipped to the strongest support zone ever seen. BTC price arrives at “biggest bid ever” It
The rocky road that Bitcoin (BTC) has been on for the past two months continued on July 19 as a widely predicted move downwards materialized in the early hours on Monday and dropped the price of BTC below $31,000. Data from Cointelegraph Markets Pro and TradingView shows that a wave of mid-day selling pushed the price
The head of crypto investment giant Grayscale believes that only a “couple of maturation points” separate the United States from its first Bitcoin (BTC) exchange-traded fund (ETF). Speaking to CNBC on July 19, Michael Sonnenshein reiterated that a U.S. ETF is a matter of “not ‘if,’ but ‘when.’” Sonnenshein: “If, not when” for U.S. Bitcoin
In the last 29 days, Bitcoin (BTC) has been ranging from $31,000 to $36,000 as the impact of the recent China ban and a $1.4 billion Grayscale GBTC share unlocking continue to pressure markets. China’s government implemented a series of measures to curb cryptocurrency mining and trading by ordering the immediate shut down of some
It’s now three months since the last Bitcoin (BTC) all-time high, but one measure suggests that holders may be waiting even longer for the next. In a series of tweets on July 17, analytics service Ecoinometrics revealed that this year’s descent from all-time highs is the second-longest in Bitcoin bull market history. $30,000 may stay