BTC is in a lengthy downtrend but three key price metrics explain why traders are confident that the $38,000 level will hold. Bitcoin (BTC) has been unable to break from the 26-day-long descending channel. Investors are uncomfortable holding volatile assets after the United States Federal Reserve pledged to reduce its $9 trillion balance sheet. While…
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The crypto industry has stepped up another gear in its race to win the hearts, minds, and some money of sporting fans the world over. Following the news that Crypto.com will be one of the main sponsors of the World Cup in Qatar later this year, the crypto exchange OKX has announced that it…
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Crypto is now a billion-dollar industry. While reports covering the entire sector are patchy and overly conservative, filings from individual companies speak to the growing scale of crypto, with Coinbase and Blockchain.com alone generating USD 7.35bn and USD 1.5bn in revenue in 2021, respectively…. Read More: How the Crypto Industry is Increasingly Paying Its…
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BTC and ETH prices are in a clear bull trend, but derivatives data shows pro traders haven’t turned into bulls just yet. As Bitcoin (BTC) finally broke out of the $46,000 resistance on March 27, traders were quick to conclude that the bearish trend was gone for good. Even as the price hit its highest…
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Short sellers got liquidated to the tune of $150 million, but two metrics show pro traders did not flip bullish after the recent Bitcoin rally. Bitcoin (BTC) showed strength on March 22, posting a 5% gain and testing the $43,000 resistance. The move liquidated over $150 million worth of leverage short positions, those betting on…
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A symmetrical triangle shows support at $38,000 but pro traders have failed to add leverage long positions, according to exchanges’ data. Bitcoin (BTC) has been trapped in a symmetrical triangle for 56 days and the trend change could last until early May, according to price technicals. Currently, the support level stands at $38,000, while the…
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Following Manchester United’s partnership with blockchain firm Tezos almost one month ago, Manchester City’s foray in the space having partnered with crypto exchange OKX provides new competition in vie for technological prominence. Leading English football club Manchester City have announced an inaugural cryptocurrency exchange partnership with OKX across both its men’s and women’s teams, as well…
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The entire crypto market is green on Feb. 28, and derivatives metrics suggest that BTC’s bullish reversal will flip $40,000 back to support. Whenever Bitcoin (BTC) fails to break through important resistance levels, traders gain confidence and add to their altcoin positions. The logic is that, unless BTC drops significantly, these movements historically provide decent…
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BTC and altcoins flashed bullish this week, but the perpetual contracts funding rate and Tether premium reflect a lack of confidence from traders. Analyzing the aggregate cryptocurrency market performance over the past 7 days could give investors the impression that the total market capitalization grew by a mere 4% to $2.03 trillion, but this data…
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Data suggests $34,000 was the bottom and BTC’s recent performance could be a sign that traders are beginning to open fresh longs. Cryptocurrencies had a volatile week after Bitcoin’s (BTC) sudden crash to $33,000 on Jan. 24. However, the sharp 9% drop fully recovered within 8 hours after BTC price regained the $36,000 support. On…
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