Tag Archives: Bitcoin (BTC) Price

Bitcoin’s price is finally gaining some bullish momentum following almost two months of correction. It seems that the bulls are looking to paint a new record high in the coming weeks, but will they make it? Technical Analysis By TradingRage The Daily Chart Bitcoin’s daily price action has been showing an apparent corrective behavior. The cryptocurrency has been making lower highs and lows since dropping from $75K. The gradual decline inside a descending channel shows the...

The first month after the Bitcoin halving last month has been uneventful. However, this might change soon as CryptoQuant observed a serious spike in the volume of stablecoins entering the market. Interestingly, there are significant jumps in stablecoin inflows at various points, often corresponding with movements in bitcoin’s price. Surge in Liquidity Signals Strong Bullish Trend Bitcoin witnessed a significant increase in value after the historic approval of US spot...

QCP Capital has forecasted a bullish momentum that could see bitcoin reach its previous highs of $74,000 in the next few months. This follows a surge in BTC’s price on May 15th, fueled by growing ETF inflows and the April Consumer Price Index (CPI), which indicated a slight decrease in inflation from the previous month. Institutional Adoption and Bullish Momentum According to insights provided by QCP Capital, the U.S. CPI figures caused a breakout across various risk assets,...

Galaxy Digital CEO Mike Novogratz thinks Bitcoin’s price action is in for a lengthy sleeper period until the market “narrative” can rear its head. That narrative can come in one of two forms: either the central bank cuts interest rates, or regulators clear the air on crypto. Bitcoin Needs A New Narrative During a company earnings call on Tuesday, Novogratz said he believes crypto is in a “consolidation phase” after a strong first quarter, and he expects Bitcoin’s price to...

The cryptocurrency market has calmed down considerably in the past 24 hours, halting the bearish assault and finding some consolidation in the process. Bitcoin’s price is trading at around $61K on Sunday morning, while Ethereum is now firmly below the pivotal $3K level. Are the Bitcoin Bulls Regrouping? As CryptoPotato reported yesterday, Bitcoin’s price experienced a sudden correction, dropping below $61K and losing around 3.5% in a single day. This seemingly had to do with...

TL;DR Bitcoin kicked off 2024 on a high note, achieving a record high over $73,500, though it later dipped to around $63,000. A new bull run may hinge on factors like technological advances, adoption rates, and global events. Key influences on BTC’s future price include potential changes in the US Federal Reserve’s interest rate policies and the outcome of Ripple’s lawsuit against the SEC, both of which could significantly impact investor sentiment and market dynamics. The...

Bitcoin’s price rally has come to a halt over the last couple of months as the market consolidates. Yet, things are about to change soon, either for the better or for the worse. Technical Analysis By TradingRage The Daily Chart On the daily chart, it is evident that the Bitcoin price has been consolidating inside a large descending channel. The midline of the channel has recently rejected the price to the downside, and the market is testing the $60K level once again. If this...

Bitcoin’s price fell 2.5% to $60,300 on Friday as Federal Reserve officials weighed their options for combatting stubborn price inflation in the United States. Bitcoin traded for $63,400, at noon UTC on Friday, before plummeting below $61,000 over the next few hours. According to Coinglass, the volatility triggered $175 million in liquidations over the past 24 hours. The single largest liquidation took place on a Binance BTC/USDT trade for $3.56 million. Speaking at a...

The Bitcoin kimchi premium in South Korea has plummeted significantly amid a broader market decline, signifying weakened enthusiasm among digital asset investors in the country. According to data from CryptoQuant, the Bitcoin kimchi premium slumped to 1.5% on Friday during the afternoon trading session in Asia. Bitcoin Kimchi Premium Slumps For the uninitiated, the kimchi premium is an indicator of the difference between Bitcoin’s valuation on South Korean exchanges and...

During the ongoing cycle, BTC and ETH have witnessed a growing divergence in their respective performances. According to Glassnode’s findings, this can be attributed to a general trend of weaker capital rotation, particularly in comparison to previous cycles and all-time high breakthroughs. Ethereum Receives Weak Capital Flows Leading up to bitcoin’s peak established on March 14, Glassnode observed a surge in speculative activity. As per its latest on-chain weekly report,...