Tag Archives: btcusdt

Bitcoin Bitcoin surged 8% today as it reclaims $40K but is just up 2% on the week. Last Friday, Bitcoin was trading inside an ascending price channel as it breached the January 2021 high at $42,000 to reach as high as $42,400 over the weekend. From there, BTC rolled over and broke beneath the ascending price channel on Monday. It then traded downward inside a descending wedge formation – best seen on the 4-hour chart. This wedge saw the price of BTC being driven lower until...

BTC entered a near-term pullback after reaching overbought conditions at $42.6k last week. The price fell for four consecutive days, wiping out leveraged longs upon every new intraday low. What Happened During the Recent Pullback With 10 consecutive daily candles higher, extremely overbought conditions on the 4-hour and daily chart, the price at technical resistance, and the third-largest whale sending 3000 BTC to Coinbase, the market was flashing a major signal of a local...

JPMorgan reportedly allowed its wealth management clients to get involved with half a dozen cryptocurrency funds over the past month. One of them – a new bitcoin fund created by the digital asset company NYDIG – is only available for private bank customers. New Crypto Offerings from JPMorgan According to a CNBC report, the American multinational investment bank – JPMorgan Chase & Co. – has provided its top customers with digital asset exposure to six cryptocurrency funds...

Customers of the German fashion company Philipp Plein International AG will get the chance to buy products in digital assets instead of fiat money. The supported virtual currencies will be 15 and will include the leading ones – Bitcoin and Ethereum. ‘Cryptocurrencies Are The Future’ In a recent Instagram post, the fashion group Philipp Plein announced that it would start accepting payments in cryptocurrencies. The company’s clients can now pay for clothes, shoes, and other...

The popular Bitcoin stock-to-flow model is flawed, and the asset’s price might not reach a six-digit territory as it predicts, claimed the CEO of CryptoQuant, Ki Young Ju. In a recent interview, he also spoke about the declining issuance of stablecoins, the negative GBTC premium, and the potential consequences for BTC’s price. BTC S2F Model is Flawed Developed a few years back, the stock-to-flow model and its variations take into account the annual supply of BTC (flow) and...

The co-founder of Andreessen Horowitz – Marc Andreessen – highlighted cryptocurrencies and blockchain technology as a financial revolution. He also praised bitcoin, saying it is not only a digital asset but a network providing numerous options to investors. Cryptocurrencies Can Build Trusty Relationships During an interview for Bloomberg, the American entrepreneur Marc Andreessen revealed his reasons what makes digital assets an enduring investment option. He stated that one...

The cryptocurrency platform Bitbns intends to open a systematic investment plan (SIP) in digital assets for Indian athletes who win medals at the ongoing Tokyo Olympics. The exchange will reportedly grant around $2,700 in crypto for gold medal winners. ‘Faster, Higher, Stronger’ And Earn Crypto The Economic Times reported that Indian athletes at the Olympic Games could receive cryptocurrencies as a gift if they manage to win a medal at the tournament in Tokyo. The trading...

BTC’s impressive rally from $29.3k to $42.6k has significantly improved the technicals and especially the momentum for the largest cryptocurrency. Since finding a local top at $42.6k as we reported, the 4-hour and daily conditions for BTC became extremely overbought and overextended, with an increased risk of a near-term correction. When looking at market structure, it appears BTC has exited Phase C in the Wyckoff Accumulation schematic and is now in the early parts of Phase...

Bakkt Holdings recently announced a partnership with Quiznos to launch the pilot for their new Bitcoin payment system. This will allow Bakkt users to purchase food at some Quiznos locations in Denver using the digital asset. Quiznos: Buy a Sandwich With Bitcoin Bakkt users will be able to utilize the pilot in certain Quiznos stores across Denver starting this month. This includes the high-traffic Denver airport location. Chief Revenue Officer at Bakkt, Sheela Zemlin, expanded...

A Russian court ordered Sberbank to restore access for a customer involved in Bitcoin trading. The authorities added that the largest bank in Russia should not have blocked the account as the client had provided all the necessary information about his cryptocurrency operations. Sberbank Had No Right to Ban The Account The Sverdlovsk Regional Court in Yekaterinburg ordered Sberbank, also referred to as Sber, to unblock account services to a client who has been dealing with...