Bitcoin has been consolidating in the time following its latest rejection at $10,000. This comes as the crypto’s mid-term market structure shows immense signs of strength, although in the short-term it does appear to be in a precarious position.
In spite of this, analysts are now widely flipping long on Bitcoin, citing a price divergence and the emergence of some large spot bids on OKEX.
The massive growth of Tether’s market cap – as compared to that of Bitcoin – is also a phenomenon some analysts are pointing towards as a reason to be bullish on the crypto.
Bitcoin Flashes Signs of Short-Term Weakness, But Large Buyers are Growing Active
At the time of writing, Bitcoin is trading down just under 2% at its current price of $9,490. This marks a notable decline from daily highs of over $9,900 that were set yesterday evening.
The cryptocurrency has been able to find some notable support around its current price level, although its slight drift lower throughout the past few hours does seem to point to some potential near-term weakness.
One analyst recently explained that he believes closing above $9,550 is imperative in order for Bitcoin to maintain its near-term strength.
Otherwise, $9,900 could be a local top.
“BTC: There’s the breakdown and bounce in low $9ks. Nice wick, watching for a close back above $9550. If not, then likely a sign that this was a local top,” he said.
The hourly close in the coming hour should offer significant insight into the benchmark cryptocurrency’s current strength.
It is important to note that some large buyers are currently propping the market, as another analyst recently pointed tolarge buy orders on OKEX as a reason why he is comfortable going long on BTC at the present moment.
“Long Here. Pretty big delta divergence. Some pretty big OKEX spot orders hitting the tape. I think OKEX is as close as you can get to being ‘signed order flow,’” he explained.
Could Tether’s Booming Market Cap Boost BTC?
One notable event seen within the crypto market throughout the past several months is that Tether’s market cap has boomed.
Data from CoinMarketCap shows that it has ballooned from $4.1 billion at the start of the year to its current size of $8.8 billion.
This massive growth may be at least partially rooted in individuals around the globe purchasing USDT as a way to add exposure to the US Dollar to their portfolios – indicating that USD is still widely viewed as a safe haven currency during times of turbulence.
One trader on Twitter recently offered a chart showing the growth of Tether as compared to Bitcoin – suggesting that it could be bullish as some of this money may soon be siphoned into BTC.
Image Courtesy of MoonOverlord
Featured image from Unplash. origin »
Bitcoin has shown some immense signs of strength today as buyers aim for a $16,000 break. If this level is shattered, the cryptocurrency could be poised to see some immense gains in the coming few days.
Bitcoin saw an immense decline yesterday that was sparked by its latest push into the $10,000 region This decline caused the cryptocurrency’s traders to have nearly $100 million in long positions liquidated This massive torrent of liquidations came about less than 12-hours after the crypto’s rally to highs of $10,500 liquidated over $120 million in short positions Bitcoin has seen immense turbulence as of late, providing dangerous market conditions for active traders looking to cash […]
2020 will go down in history as a period of immense difficulty from a financial and health standpoint. The global population has not struggled so much in terms of economy and threat to life in decadesThe post Bitcoin's price may have been affected, but not dictated, by COVID-19 appeared first on AMBCrypto.
Bitcoin has seen immense volatility in recent times, and although most of this has favored buyers, the crypto has been unable to firmly surmount the $10,000 region It now appears that large traders are rushing to gain exposure to the cryptocurrency, as open interest for Bitcoin options on the CME has surged 10x this month alone This comes shortly after news of Paul Tudor Jones and other notable investors gaining upside exposure to BTC via […]
The world’s leading cryptocurrency had its historic event, halving earlier this week and since then, BTC’s price has jumped over 10%. Halving also has many crypto enthusiasts betting on another bitcoin bull rally, akin to the previous two halvings.
Ethereum has some immense weakness in recent times, severely underperforming Bitcoin and the aggregated crypto market as it continues struggling to garner any upwards momentum. Traders don’t seem to think that this lackluster price action will last for too much longer, however, as open interest for ETH has been rocketing higher throughout the past 12-hours....
After concluding its third-ever block rewards halving, Bitcoin has shown some immense signs of strength from both a technical and fundamental standpoint The cryptocurrency has now recovered a good portion of the losses that came about as the result of its recent dip, leading many analysts to conclude that this could mark a local bottom BTC’s hash rate has also remained quite high in the time following this event, which is a sign of strength, […]
Bitcoin's price suffered from immense selling pressure in the market on 10 May, causing the value of the coin to drop to $8,109. However, the tug of war between the buyers and sellers continued the foThe post Bitcoin price action causes an increase in spread on low-tier exchanges appeared first on AMBCrypto.
The immense volatility seen by Bitcoin and the aggregated crypto market throughout 2020 has led to a major shift in dynamics seen amongst market participants, with many retail investors fleeing exchanges as they lose trust in centralized entities and begin adopting a long-term “hodl” strategy.
Although Chainlink has been one of the most bullish cryptocurrencies throughout 2019 and 2020, its short-term price action has lagged against that of Bitcoin and many of its other peers. The crypto is flashing some signs of immense short-term weakness after its bullish divergence was “destroyed,” leading some analysts to now watch for a significant...
The crypto market has been subjected to immense volatility throughout 2020, with Bitcoin plummeting to lows of $3,800 in mid-March before incurring an intense rebound that has since led it all the way up to highs of $9,500.
Bitcoin has seen some immense bullishness throughout the past couple of days, with the benchmark cryptocurrency incurring a notable uptrend that allowed it to climb from lows of $7,700 to highs of $9,500.
Chainlink has had a good year so far. The digital coin’s performance this year has been so immense that, many crypto experts have called it one of the most profitable assets in the cryptocurrency market alongside Bitcoin, the biggest digital coin.
Bitcoin trading has hit a new all-time high in Argentina. The crypto-asset has seen an immense increase in popularity among the Argentinians as the country looks at a potential default on almost $70 billion in foreign debts.
2020 will go down in the history books as a year of immense financial importance. However, it has been an equally important year for the digital asset industry.
Not only has the digital asset spaceThe post Rise in Bitcoin's trading volume undercuts fall in price correlation over Q1 2020 appeared first on AMBCrypto.
Bitcoin has seen some incredible fundamental growth in recent times, with network activity rocketing throughout the year while the crypto sees relatively strong price action in the face of immense global economic turbulence.
Cryptocurrencies have made immense inroads when it comes to elevating their status as a digital asset. For the world's largest cryptocurrency, Bitcoin, its comparison to store-of-value assets like golThe post Ethereum's scarcity narrative might be boosted by DeFi's growth appeared first on AMBCrypto.
The digital gold, Bitcoin appeared to be in troubled waters as traders are trying to make a profit. The market especially in the last 24-hours has noted immense volatility, with its price being above The post Bitcoin liquidity remains restricted as Bid-Ask spread widens appeared first on AMBCrypto.
For all of its revolutionary potential, Bitcoin remains a work in progress. Its long, and often contentious development has been the subject of immense debate among both supporters and critics. Several emerging steps along its march to completion will soon become game changers on the move toward mass adoption.
Bitcoin saw a relatively sharp decline late-yesterday that marked a bearish resolution to its multi-day bout of sideways trading within the upper-$6,000 region. This downwards movement has come about during a time of immense fear amongst cryptocurrency investors and has further compounded this uncertainty – leading the benchmark crypto’s fear and greed index to hit […]
The post Analysts believe Bitcoin may see months of consolidation despite investors’ “extreme fear” appeared first on CryptoSlate.
Being radically different didn't always help cryptocurrencies. However, in countries such as India, technological innovations like crypto and blockchain have great potential and can provide immense beThe post India: Can Bitcoin emerge as the go-to asset for young Indians? appeared first on AMBCrypto.
Bitcoin and the crypto market have been firmly caught in the throes of immense volatility over the past several days and weeks, with Bitcoin’s sharp swings leading altcoins like Ethereum to follow suit and incur some notable volatility.
Bitcoin has once again found itself caught within the throes of an immense selloff, with the benchmark cryptocurrency plummeting below $5,000 earlier this morning in tandem with the decline seen by the U.
Bitcoin (BTC) has been caught in the throes of immense bearishness over the past several days, with its overnight rally turning into a bout of capitulation after bulls failed to defend the crypto from dropping below its key support at $9,000.
Ethereum has been caught within the throes of immense bearishness over the past couple of days, with sellers leading the cryptocurrency to underperform Bitcoin is it smashes through key support level that had been developed throughout the course of its intense 2020 uptrend.
XRP has been like a rocket ship ready for a moon mission, with crypto speculators predicting an immense rally against the dollar and Bitcoin. But either XRP is refueling its jets before more upside or has just taken a detour back into a selloff, as the price of the number three cryptocurrency by market cap...
It has been a wild day for Bitcoin (BTC), with the benchmark cryptocurrency finding itself caught within the throes of immense volatility that has primarily been bull-favoring. This volatility has allowed the crypto to rally up towards $10,000, although it has hit some intense resistance during the course of this latest upswing.
Bitcoin (BTC) has been caught within the throes of immense bull-favoring volatility over the past several weeks, which has allowed the cryptocurrency to put significant distance between its recent lows of $6,400 and its current price of $9,500.
Bitcoin experienced a massive bout of volatility this morning that led it to plummet to $9,000 on popular cryptocurrency trading platform Bitmex before bulls stepped up and catalyzed a massive rally up to highs of...
Although the past few weeks have proven to be highly bullish for Bitcoin (BTC) and the aggregated crypto markets, it is important to note that the local highs set by most major digital assets are looking increasingly like mid-term tops, and bears are slowly regaining control over the markets.
The world's largest cryptocurrency, Bitcoin, is undoubtedly the most successful coin, seeing immense adoption and growth over the past few years. The cryptocurrency not only paved the way for an electThe post Cryptocurrencies need to be 'very reminiscent of Bitcoin:' Samson Mow appeared first on AMBCrypto.
Bitcoin and the aggregated crypto markets have incurred immense volatility over the past several days and weeks, which has come about as Bitcoin’s bulls and bears have engaged in an intense battle that has, over the past 24-hours, favored BTC’s bears.
Following Bitcoin’s recent immense volatility, the cryptocurrency has found itself caught within an extended bout of sideways trading that has led BTC to hover around $8,100 for the past couple of days.
Bitcoin’s strong bounce at its key near-term support level at $7,700 has provided relief to the aggregated crypto market from yesterday’s immense selling pressure, allowing multiple major altcoins to push up against or break above their key near-term resistance levels.
It’s no secret that Bitcoin (BTC) was the best performing asset of the last decade, clocking returns of such a great magnitude that early investors could essentially turn pocket change into millions of dollars.
The cryptocurrency markets have been caught in the throes of immense volatility over the past few days, with Bitcoin plummeting to lows of $6,400 earlier this morning before posting a strong rally back up towards $7,000.
Following the immense volatility that Bitcoin (BTC) experienced earlier this week, the cryptocurrency has once again found itself caught within a period of consolidation as it trades sideways within the upper-$7,300 region.
Bitcoin (BTC) has been firmly caught within the throes of immense volatility over the past several days and weeks, with its recent bout of sideways trading ultimately resulting in a massive movement that caused a maximum pain scenario for traders.
An increasing number of authors in China are turning to blockchain technology for intellectual property (IP) protection, reports media outlet Khaosod English, November 27, 2019. Tackling the IP Problem Thanks to the immense, multi-faceted benefits of blockchain technology, it has become an ideal fit for various industries across the globe, The emerging technology, today, isRead MoreRead More.
Bitcoin (BTC) has been caught in the throes of immense volatility over the past several days and weeks, with the cryptocurrency recently dropping to lows of $6,500 before posting a sharp bounce to $7,400.
“The free enterprise system has not failed; the financial system has failed. ” – Tony Blair, Davos, 2009. To maintain the immense wealth some accumulated and did not want to share.
Once again, true to the nature of this purgatory phase in the crypto markets, Bitcoin (BTC) has been relatively flat over the past 24 hours. According to Coin Market Cap, the leading cryptocurrency is up a mere 1% in the past 24 hours — effectively nothing when you factor in this market’s often immense volatility.
Cointelegraph reports that the fiscal regulator has taken drastic measures in order to protect the foreign exchange reserves of Argentina which has been under immense stress following months of high inflation rates which has led to the slump in the country’s currency, the peso.
In the next few hours, Bitcoin will see its monthly candle for October close. As the cryptocurrency has been subject to immense volatility over recent weeks, this close will be immensely important for Bitcoin’s directionality for the next few months.
The Malta Financial Services Authority has warned investors about yet another Bitcoin investment scam. The platform, Bitcoin Future, has been using images of local public figures to dupe its victims.
When asked whether Twitter would be interested in joining the Libra Association, Jack Dorsey met the inquiring journalist with a prompt “hell no”. Dorsey’s reaction is not surprising in the slightest as he has previously spoken of his issues with a network like Libra.
When asked about the drawbacks of Bitcoin, many people cite the cryptocurrency market’s immense volatility — multiple days a year, BTC and its ilk have 10%+ days. Case in point, the Bitcoin price tumbled off a cliff in late September, falling from the lofty price point of $10,100 to $7,700 in a week’s time.
CME Group’s global head of equity products, Tim McCourt, believes that Asian traders and miners will welcome their Bitcoin options product with open arms come Q1 2020. As per an interview with South China Morning Post, CME anticipates greater demand for options contracts given the immense benefits of using it as a hedging mechanism, October 10,Read MoreRead More.
On Friday morning, the Bitcoin market was subject to a bout of immense volatility, throwing off bulls. As reported by NewsBTC previously, the price of BTC surged to $8,820 to dump to $8,350 just minutes later.
Bitcoin price failed to recover above $107,000. BTC is trimming gains and might could continue to move down if it trades below $102,500. Bitcoin started a fresh decline after it failed to clear $107,000.
Square, the payment services arm of Block, has launched its Bitcoin payment feature for small businesses, allowing them to accept BTC payments and manage their digital assets alongside traditional finances through its point-of-sale platform.
Eric Trump, son of US President Donald Trump and executive vice president of the Trump Organization, has revealed new bullish predictions for Bitcoin (BTC).
Bitcoin price is attempting to recover above $103,500. BTC could continue to move up if it clears the $106,500 resistance zone. Bitcoin started a decent recovery wave above the $103,500 support. The price is trading above $104,500 and the 100 hourly Simple moving average.
Bitcoin price is struggling below $105,000. BTC could continue to move down if it stays below the $104,200 resistance. Bitcoin started a fresh decline below the $104,000 support. The price is trading below $104,000 and the 100 hourly Simple moving average.
