Tag Archives: btcusd

Bitcoin (BTC) fell under $40,000 on Monday for the first time since early December as a wave of ETF outflows pushed the asset into deeper waters. Over the past 24 hours, over $236 million in trades have been liquidated, including $208 million worth of longs. Bitcoin trades for $39,504 at writing time – a price last seen for the asset on December 2 2023. According to Coinglass, Over 90,000 traders have been liquidated in the last 24 hours. The largest liquidation took place on...

Despite positive developments such as the approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission, Bitcoin’s price encountered significant rejection, resulting in a notable 17% decline. However, as the cryptocurrency approaches a crucial support region, there is potential for a renewed bullish movement. Technical Analysis By Shayan The Daily Chart Analyzing the daily chart, Bitcoin’s attempt to overcome the substantial resistance at $48K was met with...

The cryptocurrency market seems to have been cooling off throughout the past seven days, decreasing to its current capitalization of $1.69 trillion. This comes a week after the United States Securities and Exchange Commission approved a spot Bitcoin ETF. Undoubtedly, the above has been on everyone’s mind for the last few months. Now that the approval is finally here, the market is cooling down. Somewhat expectedly, the ETF didn’t attract hundreds of billions of inflows. In...

Bitcoin is down by almost 10% as it continued to face an uphill battle following the approval of much-anticipated spot ETFs by the SEC. But relief for the flagship crypto-asset might not transpire just yet. In fact, the positive and negative movements of the Korean “Kimchi” Premium and the Coinbase Premium, respectively, signal a potential short-term correction in the Bitcoin market. Bitcoin: Short-Term Correction Imminent The Korea Premium Index (KPI) is a crucial metric for...

While being bullish on Bitcoin ETFs for the long term, Arthur Hayes expressed bearish sentiments on Bitcoin in January, anticipating a short-term correction of up to 30% in prices. In a recent post on Tuesday, Arthur Hayes, Chief Investment Officer of the family office Maelstrom and former CEO of BitMEX, delves into the allure of Bitcoin (BTC) for investors, citing market inefficiency and its uncorrelated behavior with traditional assets as key factors attracting billions in capital from...

Analysts anticipate that the outflows from Grayscale’s Bitcoin Trust (GBTC) ETF, coupled with investors shifting to lower-fee options, will exert downward pressure on Bitcoin price. Bitcoin (BTC) experienced a rocky weekend as it fell below $42,000 for the second time, failing to break above $43,100 amid subdued trading volumes. The excitement surrounding the approval and launch of spot Bitcoin Exchange-Traded Funds (ETFs) initially propelled the flagship crypto to a two-year high above...

Bitcoin plummeted 10% below $42,000 on Friday, triggering $338 million worth of crypto market liquidations. The collapse erased most of the asset’s progress over the past month leading up to the approval of several Bitcoin spot ETFs for public trading in the United States. According to Coinglass, over 101,000 crypto traders have been liquidated in the past 24 hours. The largest individual liquidation took place on a Bybit BTC/USD trade for $4.5 million. Most liquidations...

What a week… The United States Securities and Exchange Commission finally greenlighted a spot Bitcoin Exchange-Traded Fund (ETF). Those of you who’ve been following the industry for many years know that this has been one of the most highly-anticipated moments, and it’s absolutely monumental how far the industry has come in 2024. But the process itself was particularly scuffed, to say the least. First, the SEC’s X account was compromised, and the attacker tweeted (falsely)...

Bitcoin’s price has undergone a consistent surge following the recent announcement of SEC ETF approval, reaching a crucial resistance region. This price range includes the upper boundary of the ascending channel and the static resistance at $48K, presenting challenges in reclaiming this significant level. Technical Analysis By Shayan The Daily Chart A comprehensive analysis of the daily chart reveals a sustained uptrend in the price, approaching a substantial resistance zone....

Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US. South Korea’s financial regulator, the Financial Services Commission (FSC), has said that the spot Bitcoin ETFs recently approved in the US may contravene the country’s law. In an official statement published on Friday, the regulator sounded a note of warning without providing extensive details: “Domestic securities firms brokering overseas-listed Bitcoin...