Tag Archives: BTCGBP

Bitcoin’s price has recently crashed, losing nearly $5,000 in one day. The following analysis looks at the details behind the crash and how it affects the overall market’s trend. Technical Analysis By Edris The Daily Chart On the daily timeframe, the price has been rejected from the $30K resistance level multiple times in recent months. The last rejection from this level and the 50-day moving average near the same price have initiated a significant drop to the downside. BTC...

Bitcoin plunged below the $26,000 level on Wednesday extending monthly losses to nearly 15% but it has never been more difficult to mine the leading crypto-asset. Despite a severe drawdown in price, Bitcoin’s network fundamentals have largely refrained from following the same trajectory. In fact, Bitcoin’s mining difficulty has reached an all-time high of 55.62 trillion hashes, according to the latest data from CoinWarz. Data suggest that the next difficulty adjustment is...

The latest edition of the Bitfinex Alpha report revealed that cryptocurrency traders are bracing themselves for “choppy waters” ahead due to bitcoin’s sudden plunge after a languid period. On-chain data analyzed by researchers at crypto exchange Bitfinex showed a surge and flatline in implied and historical volatility metrics, suggesting that traders have adjusted their strategies in preparation for impending volatility over the next month at least. Choppy Waters Ahead Last...

Orange prices have been on the rise since 2020, but this August, the commodities futures markets expect them to surge. At the same time, orange juice futures are hitting record highs: “In recent weeks, prices in the OJ futures market have topped $3 per pound. Around this time last year, prices were hovering at around $1.81 per pound. The price increase has been fueled primarily by short citrus supply around the globe.” Imagine how pricey oranges could get if the supply was...

After a prolonged period of silence near the critical $30K threshold, the price has encountered significant rejection, resulting in a swift and rapid decline. However, the current scenario shows the price consolidating close to the crucial support range of $25K, where it could potentially find a bottom and halt further downtrends. Technical Analysis By Shayan The Daily Chart Following a minor corrective phase, where a bearish divergence occurred between the price and the RSI...

The cryptocurrency market is going through hard times. It’s been a complete disaster for the past seven days, and the worst took place today. Bitcoin’s price plummeted by a whopping 7.6% in the past 24 hours alone, bringing its total losses to above 11% for the week. The crash also led to a massive wave of liquidations worth over $1 billion in terms of leveraged positions. The volatility wiped off both short and long open interest, and the market is left crumbling. BTC is far...

Bitcoin’s price plummeted on Thursday to $25,300, touching lows the asset has not seen in the past two months. The event triggered nearly $1 billion in liquidations across the entire crypto market. Bitcoin slightly rebounded after the crash, trading for $26,386 at writing time. The last time Bitcoin traded this low was in mid-June, shortly after Binance and Coinbase were sued by the Securities and Exchange Commission (SEC), and shortly before BlackRock announced its bid for a...

Europe saw the launch of the first spot Bitcoin ETF on Tuesday, but it turned out to be a sell-the-news moment since the cryptocurrency’s price plummeted in the following days to multi-month lows. Interestingly, something similar happened back in 2021 after the launch of the futures Bitcoin ETFs in the States, leading to speculations on whether these products are actually benefiting the crypto industry. BTC Down After First European ETF Going under the ticker BCOIN, the...

Michael Burry, one of the Tradfi banking industry’s most notorious bears, just put a $1.6 billion hit out on the U.S. stock market. What happens to bitcoin while the grownups are fighting? The Scion Capital founder, who famously shorted mortgage-backed securities before the 2007 housing crisis, just gave the stock market a $1.6 billion shove of puts in SPY and QQQ! Michael Burry Bets $1.6B on Stock Market Crash Steve Anderson writes at TipRanks: “Michael Burry made a name for...

Bitcoin has tapped a new all-time high against the Argentine peso, shortly after a Bitcoin-supportive presidential candidate came first in the nation’s primary elections. The asset now trades for $10,258,244.60 ARS, up 21% over the past 5 days. Pressure on the Peso Compared to the US dollar, Bitcoin has performed remarkably well against the peso over time given that the latter currency’s persistently high inflation. Last month, the nation’s annual inflation rate skyrocketed...