Tag Archives: btcusdt

After the false breakdown below $30k and the subsequent recovery, BTC continued higher, closing the week up 12.45%. Overall, price action has been bullish, as the cryptocurrency pushed above the 50-day MA and hit an intra-week high above the top of the trading range at $42.6k. Chart by TradingViewIt’s important to note that BTC has printed 10 consecutive green daily candles, is extremely overbought and overextended on the 4-hour and daily chart. With near-term overbought...

Though the Justice Department declined to comment for the article, Bloomberg was able to report last week that the DOJ is investigating U.S. banks and the backers of popular stablecoin USDT. There is some ongoing speculation about how this might affect bitcoin’s price. What’s Supposedly Going on With Tether and the DOJ? The Justice Department is reportedly seeking to determine the extent of U.S. banks’ knowledge of Tether Limited’s business and the prolific use of its...

Everyone who’s even remotely interested in investing and trading is definitely aware of the GameStop saga. It was an event that shook the financial community to an extent that we hadn’t seen before. It all started on a subreddit called WallStreetBets, which went on to become one of the most popular subreddits out there, harboring over 10 million users. CryptoPotato had the pleasure of talking to its Founder – Jaime Rogozinski. In this interview, we talk about WSB’s past,...

The Bitcoin fear and greed index, which tracks the community’s general sentiment on the primary cryptocurrency, has gone into a state of greed for the first time in nearly three months. This comes as BTC’s price has gone on a tear in the past few weeks, adding more than $10,000. Greed Among Bitcoin Investors The fear and greed index is a popular metric that follows several aspects within the cryptocurrency community to determine the general feelings towards BTC and other...

The bitcoin bulls continued their offensive in the past 24 hours as the asset reached yet another 2-month high of over $42,500. Most alternative coins have outperformed their leader, including ETH, BNB, and DOT, which has jumped by more than 16% in a day. Green Altcoins; DOT Adds 16% of Value The altcoins were relatively stagnant yesterday, but the situation is significantly different today. Ethereum traded around $2,450, but a 6% increase has driven it to approximately...

The financial institution Wealthfront announced it would expand its menu of digital asset investments by including Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). Additionally, the company would provide more solutions to its customers with cryptocurrencies different than BTC and ETH. Wealthfront Customers Can Now Invest in GBTC and ETHE The California-based investment provider Wealthfront with more than $25 billion in assets under management, revealed in a...

BTC has definitely surprised market participants lately after a 10-day green streak, managing to break above $40K. Just overnight, BTC staged a last-minute rally and made the first daily close above the top of the trading range closing at $42.2k. Chart by TradingViewBitcoin Overcomes $40K On July 28th, 2021, the third-largest BTC whale transferred 3000 BTC to Coinbase, signaling near-term caution on price. As we reported, this has been a local top indicator on quite a few...

Bitcoin has initiated another leg up, resulting in charting a new two-month high of just over $42,000. Apart from Chainlink, most alternative coins trail behind, and BTC’s market dominance has increased to well above 48%. Bitcoin Taps a 2-Month High As reported earlier this week, bitcoin went on a tear after dabbling with the $33,000 price line for a while and charted a $7,000 green candle. As a result, the cryptocurrency briefly exceeded $40,000 for the first time in over a...

GoldenTree Asset Management, a US asset management giant with $45B in AUM, has reportedly purchased portions of the primary cryptocurrency. The move aims to diversify some of the organization’s already existing strategies. Founded over two decades ago, GoldenTree is an asset manager headquartered in New York City with offices in numerous other important financial cities such as London, Singapore, Tokyo, and Sydney. According to a report by The Street, the institution has...

Going through the recent week and touching the $40K mark, there are some promising signs in on-chain data that could lead to a further price recovery in the market. However, some metrics still make an immediate rally back to the all-time high a questionable probability. Let’s explore the bull and the bear case for Bitcoin’s price in the current market condition, stemming from predominantly on-chain information. Supply Shock – The Bull Case To summarize the overall bullish...