Tag Archives: Bitcoin (BTC) Price

The cryptocurrency market took a hit today as its capitalization lost around $150 billion in the past few hours. This also saw a little over $900 million worth of long and short positions liquidated. As we reported earlier today, bitcoin’s price tumbled below $60K and tested the support found at $58.3K. This sent the entire market downwards as almost all cryptocurrencies saw double-digit declines with the exception of a few. Shiba Inu’s SHIB, AAVE, and 1inch were the major...

The near-term pullback managed to find support at $59.5K and successfully held $60K on a daily closing basis. The significant rally with elevated open interest, high funding rates, and leverage ratios were all signals of caution. The open interest has been consolidating around $14.3 billion, and the funding rate also cooled down to neutral levels. The leverage ratio remains elevated, and it hit a recent high of .19 which is near the November 2020 peak. Chart by...

Bitcoin’s price finally entered a correction to flush out the leverage, cool off the overbought conditions, and help build a structure after the large rally in the past three weeks. This happened after the open interest, funding rates, and leverage ratio all reached elevated levels. The near-term support at $60K appears to be holding, which is a positive signal. Given the current selling pressure, it’s unlikely that the weekly close will be above $64.8K. Chart by...

Bitcoin dipped below $60,000 once again in the past 24 hours but has recovered and currently stands above it. Most altcoins are also untypically calm this weekend, with ETH sitting north of $4,000. Shiba Inu, though, charted a new all-time high hours ago. Bitcoin Remains Above $60K All crypto eyes in the past few weeks were on the launch of the first-ever Bitcoin Futures ETF in the United States. After years of waiting, the Securities and Exchange Commission finally allowed...

Following the past several days of surging higher and higher, BTC corrected hard in the past 24 hours and even dipped below $60,000 briefly. Most altcoins followed suit, and the entire market cap lost more than $150 billion since its peak earlier this week. Bitcoin Lost $7K in Days The main focus in the cryptocurrency space in the past week or so was on the first-ever Bitcoin Futures ETF going live in the United States on Tuesday. The euphoria for such a long-anticipated...

The volatile roller-coaster returned to the crypto markets again after bitcoin’s ATH, and the asset dropped by more than $5,000 a day later. While most altcoins have stalled on a 24-hour scale, Solana has gone on a tear once more by breaking above $200. Bitcoin Lost $5K The news that the US will finally have its own Bitcoin ETF, even if it’s a Futures one, for now, brought significant gains for the primary cryptocurrency. BTC traded below $58,000 last week when the first...

The German-American billionaire entrepreneur – Peter Thiel – praised bitcoin’s recent surge to an all-time high price. According to him, this rise shows that the major financial institutions are struggling to cope with the current economic situation. Underinvested in Bitcoin Peter Thiel – Co-Founder of PayPal and Palantir Technologies – has been a long-standing cryptocurrency advocate, with bitcoin being his most preferable digital asset. In a recent appearance in Miami, he...

There’s been plenty of comaparisons of Bitcoin’s price action now and in April when the cryptocurrency reached its previous all-time high. Research firm IntoTheBlock now points out a staggering difference in Bitcoin’s transactional volume between the two periods. $700 Billion Weekly Transactional Volume According to the research firm, Bitcoin’s on-chain volume reached over $700 billion transacted, which presents an increase upwards of 7x compared to April. In addition, the...

Bitcoin managed to complete a daily close above the previous all-time high at $64.8K at $66K. This is an early bullish signal, but it’s not enough to fully confirm the breakout. For this to happen, we need to see multiple daily closes, as well as weekly ones above $64.8K. This would provide confirmation and further validation. In the near term, we can expect to see multiple retests of $64.8K as a support level. Chart by TradingViewNear-Term Caution for the BTC Price Even...

After yesterday’s new all-time high at $67,000, bitcoin corrected today with a steep decline to below $64,000. On some exchanges, though, the crash was significantly more violent as BTC dropped as low as $54,000 on Kraken and to four digits on Binance.US. October 20th was a historic day for the primary cryptocurrency as it finally skyrocketed above its previous all-time high and peaked at $67,000. It happened on the wings of the recently approved Bitcoin Futures ETF in the...