Tag Archives: Bitcoin (BTC) Price

$4 billion in liquidations wiped out the derivatives market, sending BTC lower by 19% at the intraday lows yesterday. Crypto Twitter went into panic, as exchanges were unresponsive, investors struggled to fill orders, and fears of a bear market began to spread. Days like yesterday make it easy to panic sell without thinking about what was actually happening. Although the charts looked horrible, on-chain data was flashing completely different signals, showing that long-term...

In a completely unexpected turn of events, Bitcoin’s price crashed to below $43,000 in a matter of minutes. This happens on the day El Salvador officially recognizes it as legal tender in what many called the “Bitcoin Day.” In a matter of hours, Bitcoin’s price crashed from above $52,000 to below $43,000 in a violent red candle and a massive sell-off. Chart by TradingViewIn two consecutive candles, bitcoin’s price lost about $7,000 of its value. Since then, it has somewhat...

After 2 weeks of consolidation, Bitcoin managed to make a weekly close above the critical $50k level, marking another step forward in bull market continuation validation. This is now the fourth consecutive weekly close above the 21-week, 40-week, and 200-day moving average, 3 major levels that have been successfully reclaimed in order to re-enter bull market continuation validation. It is important for BTC to start establishing $50k as support this week, as the bulls start...

The battle for $50k continues as the bitcoin price is trading above and below the key level. On Friday, September 3rd, 2021, Bitcoin successfully made the first daily close above the $50k mark since May, a sign of strength for the bulls. Trading volume came in 36% above average on Coinbase, indicative of strong spot buying. In addition, BTC short liquidations came in below average, indicating the recent price rally was spot-driven rather than short covering. Chart by...

After touching a multi-month high above $51,000, bitcoin has retraced slightly and currently stands around the coveted $50,000 mark. Most altcoins have also stalled on a 24-hour scale, except for Polygon, which has surged by roughly 20% in a day. Bitcoin Stands Around $50K Ever since the primary cryptocurrency recovered from its dip to $46,300 at the start of the month, the bulls have had control over the market. They pushed the asset to and beyond $50,000, as reported...

The CEO of blockchain forensics firm Chainalysis is optimistic that the bitcoin price will rise above $100,000 before the end of 2021. $100k by December 2021 In a Bloomberg interview on Thursday (September 3rd, 2021), Michael Gronager, who is also the co-founder of cryptocurrency exchange Kraken, asserted that bitcoin and the cryptocurrency market, in general, are still in a bull run state. Earlier in August, Kraken CEO Jesse Powell noted that the market was still in the...

The Bitcoin bulls continued to push the cryptocurrency north in the past 24 hours, resulting in a multi-month high of just over $51,000. Most altcoins also performed well in the same timeframe, with ETH touching $4,000 for the first time since mid-May. Bitcoin Tapped $51K September didn’t start all that well for bitcoin as the asset fell to a multi-day low of $46,300 on Wednesday. However, this is where the situation quickly changed. The primary cryptocurrency started rising...

This week saw Bitcoin’s price surging past $50,000 on a few occasions, while altcoins have been charting double-digit gains all along. Let’s start with BTC. The primary cryptocurrency is up about 7% over the past seven days, and it’s currently sitting above the coveted $50K mark. However, it took it a few attempts to go there, and we need to see today’s daily candle close above it for further validation of the bullish continuation. Towards last weekend, Bitcoin attempted to...

BTC made an intraday push above the critical $50k level yesterday, reaching a high of $50.3k, but struggled to hold onto gains before dropping back below $50k. $50k is a technical and psychological level of resistance with a moderate amount of BTC moved on-chain, meaning it will take multiple attempts for the bulls to successfully make a close above it. Near term, as long as Bitcoin remains above the lows at $46.3k, continues to make higher lows, and tests $50k, we can expect...

BTC is starting off the month of September on a positive note gaining 7.9% from yesterday’s lows and with today’s attempt in retesting $50k for a potential breakout. The cryptocurrency appears to be completing the 10-day long consolidation after topping out at $50.5k on August 23rd, 2021. Leading up to the current attempt to break out, BTC tested key support at the 21-day MA, 21-day EMA, and nearly the 200-day moving average. Continuing accumulation and falling aggregate spot...