Tag Archives: Bitcoin (BTC) Price

For the first time in history, we saw Bitcoin closing a weekly candle above $60K. This happened on the back of reports that the first futures-backed BTC ETF would be officially listed, pending no further interference by the SEC. It’s also important to note that the open interest, the funding rates, as well as the estimated leverage ratio all went up in the interim. This signals that it’s necessary to be cautious, especially given the possibility for the Bitcoin ETF...

BTC has been showing strength lately, driven by anticipation of the futures-backed ETF and potential launch early next week. It closed at $61.6k with more than double the daily average volume on Coinbase, showing strong spot buying. Possible Correction for BTC? Although near-term price action has been very bullish with a strong breakout above $52.9k in the last 2 weeks, we need to approach the BTC ETF launch with caution. The risk of a near-term pullback is increasing because...

The latest developments in the US claiming that a Bitcoin ETF might be just around the corner pushed the cryptocurrency to $63,000 hours ago. Most altcoins have failed to follow their leader north, and the BTC dominance reached a near three-month high. Bitcoin Came $2K Away from ATH On October 13th – just three days ago – the primary digital asset had dipped below $55,000 after getting rejected at the $58,000 level. The situation quickly changed in the following days, and BTC...

One of the largest Bitcoin whales, who has been quite active lately, sold 1,500 coins at $56,200 yesterday. Interestingly, they bought back a third of that quantity a day later at a higher price. As outlined by CryptoQuant’s analyst going by the Twitter handle VentureFounder, the unknown BTC whale sold a large chunk of 1,500 bitcoins on October 3rd at $56,200 per coin. In USD terms, this substantial amount totaled $84,300,000. This coincided with their recent strategy to...

The recent price surge from bitcoin has not deterred long-term holders from keeping their portions. Recent data from Glassnode informed that the percentage of BTC supply that has been held for at least three months had reached a record of over 85%. BTC Holders Refuse to Sell Citing data from the blockchain analytics company Glassnode, the Chinese journalist Colin Wu outlined the behavior of bitcoin holders and their most recent attitude towards the asset. As the graph below...

BTC’s recent 46% rally from the lows at $39.6k has been very impressive as prices pushed above $50k, the September high at $52.9k, with higher highs being made. The above further validates the completion of the bear trap down to $39.6k. Bitcoin has been finding initial resistance as anticipated in the $57.1k to $58.3k, a major zone of technical and on-chain resistance. Chart by TradingViewThe $50k to $58.3k zone includes many buyers from earlier this year who acquired Bitcoin...

Bitcoin has been on a roll since the start of October and the past week in particular. It traded below $50,000 on October 5th but reclaimed that coveted line in the following days and kept climbing upwards. It charted a multi-month high just shy of $58,000 hours ago, meaning a 17% increase in the span of a week. Usually, when BTC goes up, most alternative coins tend to follow suit at least against the dollar. This doesn’t seem to be the case now as the majority have lost...

BTC managed to make a strong weekly close above $52.9k, the highs from September, further validating the bear trap to $39.6k. After holding the higher low at $40.7k, a level we have been watching closely, BTC successfully followed through higher by printing a second weekly candle higher. This validates the previous week’s bullish engulfing candle, adding strength to near-term technical momentum and structure. Although last week’s technical conditions were slightly overbought,...

Although the price of bitcoin has increased by more than 35% in the past two weeks or so, retail investors have yet to return to the scene. Google trends data shows that the number of queries on the search engine is still a long way away from the previous heights. No Retail Hype Yet: Google Trends On September 30th, BTC dropped below $41,000 for the third time that week. Now, less than two weeks later, BTC trades above $56,000 after marking a new five-month high at $57,000...

The price of bitcoin went on another run in the past 24 hours and briefly exceeded $57,000 for the first time in five months. Most alternative coins seem left behind as BTC’s dominance continues to increase. Bitcoin Touched $57K It’s safe to say that BTC has returned to its bullish trajectory after it recovered from its sub-$41,000 dips two weeks ago. In the days that followed, the cryptocurrency added a significant chunk of value, broke above $50,000 for the first time in a...