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Tag Archives: Bitcoin (BTC) Price

Bitcoin Reclaims $58K as Avalanche Taps New ATH (Market Watch)

Following a few days of price nosedives, bitcoin finally bounced off and added more than $2,000 of value. Most altcoins are also well in the green, with Shiba Inu adding double-digit percentages and Avalanche registering a new ATH. Bitcoin Reclaims $58K The past several days didn’t go well for the primary cryptocurrency. Shortly after tapping $69,000 for its latest price peak, the asset headed straight down and lost $9,000 in days. This culminated in a drop to $60,000 on...

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Despite the Crash: Bitcoin Investors Withdrew $1.3B in BTC From Exchanges in Three Days

Despite the recent correction in which bitcoin lost roughly 20% of its value in a week, on-chain data suggests that the liquidity crisis could be increasing. In just three days, exchanges have seen more than 23,000 coins taken off, worth more than $1.3 billion. $1.3B In BTC Withdrawn From Exchanges in Three Days Citing data from the blockchain analytics company Glassnode, crypto analyst Ali Martinez outlined the recently enhanced bitcoin withdrawals from digital asset trading...

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Bitcoin Corrects 10%, Metaverse Tokens on the Rise: This Week’s Recap

This week brings both good and bad news, depending on where you look it from. For Metaverse aficionados, the week was quite great, but for the rest of the market – it was downright bleak. So, let’s start with the broader market. Bitcoin is down over 10% in the past seven days, and there’s no other way of looking at it – it wasn’t pleasant. The cryptocurrency tumbled below $56K for the first time since late October and liquidated millions worth of both long and short positions...

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Bitcoin Price Analysis: If Short-Term Bearishness Continues, This is the Level to Watch

Bitcoin’s price dipped to an intraday low of $55,640 (on Bitstamp) and is currently down around 3.5% on the day and 11.8% on the week. The entire market seems to be struggling, with an exception of cryptocurrencies associated with Play-to-Earn games and metaverse-related projects. Bitcoin managed to recover to about $57K, where it’s currently trading as the market is looking for the next direction. Chart by TradingViewThe overall trend in fundamentals and on-chain remains...

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Bitcoin Dips Below $57K, ETH Sub $4K: $120 Million Liquidated in an Hour

The cryptocurrency market continues to decline as Bitcoin’s price dipped below $57K, while Ethereum reached as low as $3,950 on Binance. This left around $120 million liquidated in just an hour. The bitcoin price is now down 5% in the past 24 hours and 12% in the past week as it dipped below $57K moments ago. This is the lowest BTC has been trading at since October 28th. Chart by TradingViewIn the meantime, Ethereum’s price also took a beating as it dipped below $4K and...

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Third-Largest Whale Bought $99 Million Worth of BTC Below $60K

After a good run over the past several weeks, bitcoin’s rally came to a screeching halt, at least for now. Here’s where the whales come in. In fact, one particular whale is actually keen on raking in more and more coins as price takes another breather. Following the cryptocurrency’s fall below the psychological support level of $60,000, the third-largest Bitcoin whale fetched another 1,647 BTC on November 17th. The amount rounds up to approximately $98.8 million. In the last...

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Bitcoin’s Strong Spot and Neutral Futures Market: Short-Term Volatility Incoming? (Onchain Analysis)

The futures market experienced a moderate reset in the funding rate. The recent price volatility in the range between $58 and $69K has caused it to decline. However, similar to the price rally from the COVID crash in 2020, a rising macro trend in the funding rate becomes obvious. At the same time, the momentum of the open interest has also dropped through the last two weeks of volatile price movements. Chart by CryptoQuantThe market has the same structure that we saw in...

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Bitcoin May Be The Best Inflation Hedge Around, Cites 99.99% Deflation: Bloomberg

Bloomberg recently found that investors are protecting themselves from fears of rising inflation by using Bitcoin. In a tweet, the company even called it “the best inflation hedge around” depending on how one looks at it. Bitcoin Beats Inflation After crunching the numbers, Bloomberg Opinion’s John Authers found that Bitcoin has achieved 99.996% deflation over the past 10 years. What cost one Bitcoin in 2011 now costs just 0.004% of a Bitcoin today. Meanwhile, the CPI has...

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Bitcoin Price Analysis: Critical Moment for BTC Amid Today’s Weekly Close

Since the major drop on Wednesday, the bitcoin price mostly traded around the same range of $64K. Today is the last day of the week; this means that on midnight UTC will see a weekly candle close. This candle close is critical for the next short-term. The bulls need to see BTC makes a weekly close above $64.8k for the first step in breakout confirmation. As shown on the following chart, the bullish Cup and Handle pattern breakout was completed, with a back-test of previous...

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Bitcoin Consolidation Continues, Avalanche Touched $100, Breaking New ATH (Market Watch)

Following the past few days of enhanced volatility, bitcoin has calmed around $64,000. Most alternative coins have also remained untypically stagnant on a 24-hour scale, with the apparent exception of Avalanche, which went on a roll and registered a new ATH. Bitcoin’s Consolidation Rolls On Last week was going quite well for the primary cryptocurrency as it had recovered from its dip to $60,000 and went on to chart new records. It broke the October peak of $67,000 on Tuesday...

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