Markets

After a lengthy period of uncertainty, Bitcoin’s price has finally managed to break through a critical technical resistance level. This has led some investors to question whether the bear market has finally come to an end or if this recent rally is just a bull trap, a temporary rise in price. Technical Analysis By Shayan The Daily Chart Bitcoin has reached a significant and decisive resistance region of $30K, bringing back the bullish sentiment in the market. Now that the...

MicroStrategy’s massive bitcoin investment has finally generated some paper profits for the business intelligence giant after the asset spiked above $30,000 for the first time since June 2022. The firm started its accumulation spree in the summer of 2020, spending around $4.17 billion to purchase a stash of 140,000 BTC. At the moment of writing these lines, the investment is finally in the green, at least on paper. Finally in the Green Bitcoin’s recent price surge beyond the...

The number 1 cryptocurrency in the world has amassed over 82% gains since the beginning of the year. MicroStrategy (NASDAQ: MSTR) is a major beneficiary in the latest Bitcoin rally that pushed the crypto asset’s price to a new level. While the crypto market was in the red, many crypto-related stocks. MicroStrategy, which Bitcoin holding is worth 140,000, had a tough time before the recent rally. The company bought its first Bitcoin in August 2020, adopting the top cryptocurrency as a...

ADA price is showing positive signs above the $0.3800 zone against the US Dollar. The price is now trading above $0.380 and the 55 simple moving average (4 hours). There was a break above a major contracting triangle with resistance near $0.3910 on the 4-hours chart (data feed via Coinbase). The price could gain bullish momentum if it clears the $0.410 and $0.420 resistance levels. Cardano price is rising above $0.3850 against the US Dollar, similar to Bitcoin. ADA price...

Ethereum price is moving higher above the $1,850 resistance against the US Dollar. ETH price is now trading above $1,850 and the 55 simple moving average (4 hours). There is a major bullish trend line forming with support near $1,860 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it stays above the $1,850 support zone. Ethereum price is rising above the $1,850 level against the US Dollar. ETH/USD could rise further if it clears the $1,940...

Crypto market intelligence platform Santiment suggested that the number of bitcoin investors turning into long-term holders have been spiking recently. In addition, Glassnode determined that more than 50% of all BTC in circulation has not moved in the past two years. Almost 45 Million HODLers As analyzed by Santiment, the total amount of individuals and entities holding bitcoin for the long run has soared to almost 45 million, and the numbers have been rising at the fastest...

The cryptocurrency market has stalled for the past several days, but all that is expected to change by the middle of the week. This is because of two notable events about to take place – the announcement of the latest CPI data in the United States and the long-anticipated Shanghai/Shapella update for the Ethereum network. CPI Data on the Horizon For the past year or so, the US CPI data has been strongly impacting bitcoin’s price performance, at least for the short term. The...

Bitcoin appears to have hit a ceiling as the price continued to hover below the psychological resistance level of $30,000. This has led some to believe that the rally may soon come to an end since futures OI has been relatively flat throughout the year. But the options market has a different story to tell. Potential Bitcoin Rally? According to the latest chart by Glassnode, the amount of Open Interest in Bitcoin Options contracts has reached $10.3 billion. Its futures...

Bitcoin’s price dip below $28,000 seems to be short-lived as the asset has spiked back above that level and even tapped $28,500 hours ago. The altcoins are also slightly in the green. LDO has recovered some of yesterday’s losses, while STX has soared the most. BTC Returns Above $28K After the massive volatility last Monday, which brought BTC south by over a grand on fake news surrounding Binance’s CEO, the cryptocurrency performed slightly better and calmer in the following...

Binance notified about an issue affecting its Future users as only USD-Margined contracts were impacted. Nevertheless, the largest crypto exchange quickly outlined that the issue had been solved, and all operations are back to normal. Binance Futures announced fully resuming trading activity for USD-Margined contracts just minutes after the issue. According to Binance CEO CZ, the crypto exchange is seeing several issues with Futures UM Rest service/API, which have affected...