Bitcoin price has been ranging around $30,000 for most of 2023, taking even the highest timeframes down to a record low volatility state — something highly unusual for cryptocurrencies. As a result, Historical Volatility in the 6W BTCUSD chart has fallen to the second lowest ever reading. The last time this signal appeared, it awakened…
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Bitcoin (BTC) is approaching a retest of the psychologically important $30,000 amid a fresh wave of optimism about the likelihood of near-term spot bitcoin Exchange Traded Fund (ETF) application approvals, as well as optimism about crypto’s broader adoption. The world’s first and largest digital asset by market capitalization was last up around 2.5% and on…
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The Bitcoin price has experienced a slight uptick in the past 24 hours as bulls defended critical support. The number one cryptocurrency by market cap might try another run north of critical resistance, but recent data points towards further sideways price action. As of this writing, Bitcoin trades at $29,400 with a 2% profit in…
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The cryptocurrency market has experienced a period of stagnation, with Bitcoin (BTC) trading within a narrow range for the past week. However, according to market analyst Ali Martinez, there is a glimmer of hope on the horizon as Open Interest, a key indicator of market sentiment, has skyrocketed to a year-to-date high. Correlation Between Open…
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As Bitcoin maintains its position around the $29,000 threshold, several market dynamics emerge, offering potential trajectories for the world’s leading cryptocurrency. The sentiment surrounding BTC witnessed a positive shift post the encouraging remarks by renowned investor Cathie Wood. Moreover, a recent report by CoinShares highlights an evolving landscape among institutional investors, with a noticeable decrease…
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On-chain data shows that Bitcoin miners have been expanding their reserves recently, a sign that could be bullish for the asset’s price. Bitcoin Miner Reserve Has Been Trending Up Recently As pointed out by an analyst in a CryptoQuant post, BTC miners have been accumulating during the past 48 days. The indicator of interest here…
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Bitcoin has recently held above $29,000, signaling potential positivity, but hasn’t reached $30,000 yet. It’s been trading between roughly $28,900 and $29,280, reflecting uncertainty. Notably, significant Bitcoin holders are selling less, possibly indicating their confidence in its future value increase. The recent increase in the value of Bitcoin may be connected to PayPal’s announcement of…
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Much has been said in recent weeks regarding how uncharacteristically calm Bitcoin has been. On weekly timeframes, volatility measures are at their lowest ever. Unfortunately, despite the record-setting lull, directionless sideways price action could continue for a lot longer. Record-Breaking Low Volatility State Could Continue Longer Bitcoin price is at a standstill compared to its…
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A weakening economy and potential recession in Germany could be positive for Bitcoin (BTC) prices, crypto analyst Marcel Pechman believes. According to Pechman, a further fall in Germany’s gross domestic product (GDP) will likely mean that the European Central Bank (ECB) will start easing its monetary policy, simply because European governments can’t afford to pay…
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According to the latest Coinshares Fund Report, outflows into short Bitcoin (BTC) products have ceased for the first time in fourteen weeks. This notable shift in the market suggests that significant digital asset funds are now adopting a different strategy towards the leading cryptocurrency, seeking alternative opportunities for returns…. Read More: Investors Have Stopped Shorting…
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