The conditions are not getting better for Bitcoin buyers, who must deal with the price pressure. Unfortunately, this week does not bring encouraging signs, as several conditions are not favorable for a continuation higher. Last week we’ve seen Bitcoin falling after a short-term deterioration of the bullish sentiment and now
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Even though 9 days ago the Bitcoin price had finally broken above the key $12,000 resistance area, that wasn’t enough to spur more buying momentum. For the past week, BTC traded below that zone and yesterday had continued to slide, finding support around the 4h chart 200 MA. Last week
The exchange rate on the most liquid cryptocurrency bitcoin has been surging higher as COVID-19 has spread across the globe. Both young and older investors are looking for an alternative to stocks and bonds as central banks flood the market with liquidity. The rapidly rising fiscal stimulus is putting money
Since August 2nd, Bitcoin looks to have entered a consolidation phase, following a pretty decent move on the upside, The $12,000 mark seems to be the line in the sand for now, since bulls failed to break above it twice so far. Although we did not have any sign showing
The positive Bitcoin mood continues this week, given the price is now above $11,500 for the third day this year. After soaring past $11,000 last week, the momentum does not show any sign of weakening yet, as it can be noticed from the latest price action developments. The broad cryptocurrency
Following weeks of consolidation inside a narrowed range, Bitcoin had finally broken out and staged a massive rally on the upside. Since July 21st, the price jumped from $9,300 all the way to $11,400 on the Coinbase exchange, showing great interest from the buy-side. This confirms what we’ve mentioned in
The Bitcoin price action had favored the bulls for the past few days, as the market managed to break above a triangle structure we’ve mentioned in our last weekly crypto analysis. More importantly, the gains came on the back of weaker performance on global stock markets, which might suggest investors
The series of cryptocurrency thefts continues and this time the popular social media platform Twitter is involved. In what had been labeled as the “worst hack of a major social media platform yet” by Dmitri Alperovitch, co-founder of cyber-security company CrowdStrike, leading US figures like Bill Gates, Elon Musk, Kanye
During the month of June, the number of “whale” Bitcoin trades (a trade that is at least 10 BTC tokens) had spiked higher, in particular on the popular OKEx exchange. Based on the data provided by Kaiko, there were more than 8,000 such large trades, exceeding other popular exchanges like
Bitcoin continues to be subdued as financial markets are under pressure due to increased uncertainty generated by COVID-19. What’s even more concerning for BTC investors has to do with the S&P500 correlation. More than a month ago we’ve talked about a Binance research showing cryptocurrencies were correlated with stocks. The
