After the initial oversold bounce, traders are struggling to sustain the momentum of the relief rally in Bitcoin and most altcoins, a signal that selling could intensify at higher levels. During strong uptrends, the best practice is to buy on significant dips as profits are produced when the price quickly rebounds from oversold conditions. This…
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Bitcoin’s weakness and Dogecoin’s epic pump are signals that the market could be overheating and in need of a short-term correction. Dogecoin’s (DOGE) massive rally to $0.45 propelled it to a market capitalization of over $54 billion to make it the fifth most valuable cryptocurrency by market cap. This lofty market cap comes as a…
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Altcoins continue to press higher while Bitcoin bulls work on holding the $60,000 level as support. Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012…
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The 10-largest Ethereum whales have accumulated roughly $10 billion, but their investment behavior suggests some are still hungry. Covalent’s latest findings in Cointelegraph Consulting’s biweekly newsletter investigates the anatomy of Ether (ETH) whales. The data indicates that the top 10 ETH-only whales consistently hold roughly 5 million ETH, with the largest whale accumulating more than…
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The rally in Bitcoin and select altcoins seems to have hit a wall as bears continue to aggressively push back at key overhead resistance levels. Hong Kong tech company Meitu revealed on April 8 that it had added $10 million worth of Bitcoin (BTC) to its holdings which were purchased at an average rate of…
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Bitcoin and most major altcoins have bounced off their immediate support levels, indicating an increase in bullish sentiment. The total crypto market capitalization reached the important milestone of $2 trillion on April 5. As cryptocurrencies increase in value, they are likely to attract further investments from institutional investors because they can no longer afford to…
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Select altcoins could rally higher if Bitcoin and Ethereum hold on to their recent gains. According to a recent research note by JPMorgan, institutional investors have withdrawn about $20 billion from their gold investments since mid-October and during the same time frame, institutional inflows into Bitcoin (BTC) have increased by $7 billion. The bank said,…
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Bitcoin’s recovery from its recent lows and the stellar performance from altcoins signal that bulls are confident BTC will retest its all-time high. Following in the footsteps of Morgan Stanley, Goldman Sachs has announced plans to allow its wealth management clients to trade in cryptocurrencies and other digital assets. In an interview with CNBC, Mary…
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Bitcoin’s renewed push above the descending channel trendline suggests bulls are preparing to push BTC and altcoins to new highs. On Monday Visa announced that it had launched a pilot program with Crypto.com to enable its partners to settle fiat transactions by sending USD Coin (USDC) stablecoin to Visa’s Ethereum address at Anchorage digital bank. This…
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Uniswap is currently the second-ranked crypto platform by daily fee generation after Ethereum. The world’s top decentralized exchange, Uniswap, is currently beating out Bitcoin’s daily fee generation by more than 50%. According to the data tracking website, CryptoFees, the leading Ethereum-powered decentralized exchange Uniswap has generated more than $4.8 million worth of fees over the…
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