Bitcoin (BTC) and cryptocurrency adoption may not necessarily make its price higher in dollar terms, Goldman Sachs argues. In a note seen by Bloomberg published Thursday, the international banking giant claimed that mainstream acceptance of crypto assets would increase their correlation to other mainstream asset classes. Goldman: Adoption is “double-edged sword” In a view contrary…
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Bitcoin (BTC) sellers’ losses are mounting as the BTC price downturn shows that some investors are panicking at current prices. Data from on-chain analytics firm Glassnode and trading suite Decentrader shows that in January, more and more BTC entities have been selling coins for less than they purchased them. On-chain loss selling now “consistent” While…
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Bitcoin (BTC) created resistance at $37,500 on Friday amid an increasing consensus that a new dive was underway. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Funding signals dip expectations Data from Cointelegraph Markets Pro and TradingView revealed $37,500 as the ceiling which capped price action overnight into Friday. BTC/USD had recovered from a trip to local…
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Bitcoin (BTC) investors are famous for their ability to “hodl” through price dips, but new data sheds light on how long they may be prepared to continue. In a tweet on Jan. 16, on-chain analytics firm Glassnode noted that holder behavior currently mimics how Bitcoin behaves during the least extreme part of its price cycles.…
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Bitcoin (BTC) climbed down from multi-day highs on Jan. 27 as the aftermath of the latest United States Federal Reserve meeting saw bulls taper their enthusiasm. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin disappoints below $37,500 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD walking back some of its gains, which had topped out…
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Bitcoin (BTC) staged new retests of $38,000 resistance on Jan. 26 as optimism increased over a potential recovery to $40,000 and higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Next stop a $40,000 retest? Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued the rebound that began on Monday. At the time of…
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Bitcoin (BTC) could still fall under $30,000, but some prominent sources are already calling the end of the latest bearish turn on BTC/USD. In a tweet on Jan. 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, eyed Bitcoin’s position relative to its 20-week moving average, noting that historically, current levels have marked a turning…
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Bitcoin (BTC) held onto fresh upside on Tuesday after a resurgent stock market took the largest cryptocurrency above $37,500. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView. Fed may spark fresh volatility Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $36,000 on Tuesday, with maximum 24-hour gains totaling 14% versus Monday’s floor. Bitcoin’s correlation…
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Bitcoin (BTC) is being aggressively bought up at prices near $30,000 as bidders begin to soak up liquidity from short-term sellers. Data from on-chain monitoring resource CryptoQuant shows that as of late December, Bitcoin exchanges have begun to shed their BTC reserves once more. BTC conspicuously attractive at current levels After a period of traders…
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Bitcoin (BTC) set new multi-month lows on Jan. 24 as the new week began with some classic price behavior. BTC/USD 1-minute candle chart (Binance). Source: TradingView “Rangeplay” for BTC after CME gap fill Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $32,967 on Bitstamp prior to the Wall Street open Monday. That level…
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