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Bitcoin derivatives data reflects traders’ belief that $20K will become support
Bitcoin (BTC) showed strength on Oct. 4 and 5, posting a 5% gain on Oct. 5 and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions and it led some traders to predict a potential…
Will bulls take charge now that Bitcoin price trades above a long-term trendline resistance?
On Oct. 4 and 5, Bitcoin (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to April 22 or Nov. 15, depending on one’s style of technical analysis.Some…
Bitcoin briefly trades above $20k as traders ape into futures
Bitcoin (BTC) briefly bounced above the $20,000 mark earlier today for the first time since Sept. 28 after gaining 4.6% in the past week. However, the euphoria was shortlived as it was rejected around the $20,400 level, dropping to $19,991…
Bitcoin repeats key bear market move as $19K becomes key BTC price zone
Bitcoin (BTC) holding $19,000 could be more important than traders realize, new data reveals.In the latest edition of its monthly report series, “The Bitcoin Monthly,” investment management firm ARK Invest flagged an ongoing battle for the…
Bitcoin miner profitability under threat as hash rate hits new all-time high
The Bitcoin hash rate hit a new all-time high above 245 exahashes per second on Oct. 3, but at the same time, Bitcoin (BTC) miner profitability is near the lowest levels on record. With prices in the low $20,000 range and the estimated…
Bitcoin price sets October high with $20K in reach as US stocks rally
Bitcoin (BTC) climbed to new October highs at the Oct. 3 Wall Street open as Credit Suisse concerns heightened. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTraders close in on rangebound BTCData from Cointelegraph Markets Pro…
A crumbling stock market could create profitable opportunities for Bitcoin traders
Some of the biggest companies in the world are expected to report their 2Q earnings in October, including electric automaker Tesla on Oct. 18, tech giants Meta and Microsoft on Oct. 24, Apple and Amazon on Oct. 26 and Google on Oct. 30.…
Upside capped at $980B total crypto market, according to derivatives metrics
It is becoming increasingly challenging to support a bullish short-term view for cryptocurrencies as the total crypto market capitalization has been below $1.4 trillion for the past 146 days. Furthermore, a descending channel initiated in…
BTC price still not at ‘max pain’ — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a new week in a precarious place as global macro instability dictates the mood.After sealing a weekly close just inches above $19,000, the largest cryptocurrency still lacks direction as nerves heighten over the…
Research: Persistent low volume could cause Bitcoin price to plummet to $12k if it falls below…
Recent on-chain metrics suggest that a Bitcoin (BTC) bottom might be forming, but the chances of the flagship asset dropping below its lowest value are increasing due to weak volume.
Due to current macroeconomic conditions, among other…