All the pieces are in place for BTC to rally to $30,000, but escalating economic uncertainty and regulatory pressure add strength to the key resistance level. On March 23, Bitcoin (BTC) price recovered the $28,000 support after a brief correction below $27,000. The movement closely tracked the traditional financial sector, particularly the tech-heavy Nasdaq Index,…
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Volatility products are popular with traditional investors, as they enable portfolio hedging, risk management and speculation. Crypto derivatives exchange Deribit will soon launch Bitcoin (BTC) volatility futures, giving investors a direct way to measure and trade BTC market volatility. On March 17, Deribit introduced BTC DVOL futures — a derivatives contract built on the Deribit…
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A day of important macroeconomic news in the U.S. and Europe sees BTC price action circling the all-important $25,000 zone. Bitcoin (BTC) rebounded for a fresh challenge of $25,000 on March 16 ahead of a key interest rate decision in Europe. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Credit Suisse stock up 40% after “decisive…
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Investors are unwilling to add long positions as the Shanghai Fork is expected to unlock a significant amount of ETH over a short period. The price of Ether (ETH) declined 6% between March 2-3, followed by a tight range trading near $1,560. Still, analyzing a wider time frame provides no clear trend, as its chart…
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BTC’s $1,420 decline in the span of 1-hour negatively impacted demand for stablecoins in Asia and it shifted futures traders into a more defensive attitude. Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank’s 57.7% stock crash which was due to significant losses and “suboptimal capitalization.” The U.S. fintech-friendly bank was…
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On Feb. 24, 2023, bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1. On March 2 at 8 p.m. Eastern Time, the price of bitcoin fell, dropping below the $23,000 mark. This decline resulted in a significant $237.97 million worth of long liquidations on…
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This week’s bearish regulatory actions and rumors were not strong enough to suppress investors’ appetite for cryptocurrency. The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the…
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Bullish BTC traders are using excessive leverage, but bears’ reluctance to fight back could extend the current Bitcoin price rally. Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift…
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Strong corporate earnings and investors’ anticipation of a Federal Reserve pivot are helping to cement the case for risk assets like Bitcoin. Bitcoin (BTC) price broke above $22,500 on Jan. 20 and has since been able to defend that level — accumulating 40.5% gains in the month of January. The move accompanied improvements in the…
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Bad news continues to dominate crypto media headlines but Bitcoin and the wider market appear to not care. Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the…
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