Market Wrap: Bitcoin Slips to $52K; All Eyes on Friday’s $6B Options Expiry
“This is a time to make sure that you have some dry powder and are not overextended,” said one trader.
“This is a time to make sure that you have some dry powder and are not overextended,” said one trader.
The stimulus checks are in the mail so it might be too early to call the hyped-up episode a dud.
The GSA's next BTC auction could fetch more than $300K, generating even more excitement among cryptocurrency investors.
More bitcoin may be getting HODLed, blockchain data shows.
For now, bitcoin continues to hold long-term trend support above $50,000, with lower support around $42,000.
Theoretically, the $80,000 call represents a bet that bitcoin would settle above that level on April 30.
Tesla got the market excited briefly, but bitcoin is still in consolidation mode.
The record bitcoin options expiry could be bearish overhang on the market.
BTC upside is limited, and could halve in twelve-month's time, according to Deutsche Bank survey.
The company told CoinDesk that even though ICOs and fiat-to-crypto trading are not allowed in China, crypto-to-crypto trading is not banned.
The daily relative strength index (RSI) is back in neutral territory after reaching overbought levels earlier this month.
Tesla accepting bitcoin payments and running its own nodes is "massively bullish," according to one analyst.
The Tesla CEO said bitcoin paid to the company will stay as bitcoin and not be converted into fiat.
“The market is not as confident anymore,” say Arcane Research. “More traders are positioned short.”
Tether is its "own worst enemy" and needs to be audited, according to co-founder William Quigley.
"My speculative guess is that institutions are buying bitcoin's price dip," one analyst said.
Backed by a cadre of heavy-hitting investors, Mina announced its mainnet launch Tuesday.
Hut 8 plans to add another 5,000 ASICs to Foundry's pool by August.
Bitcoin's "reserve risk" metric indicates the cryptocurrency is nowhere close to a major price top.
Bitcoin's uptrend continues to slow after breaking short-term support.
The drop below $55,000 comes at a time when cryptocurrency fund inflows have been on the decline.
As of March 21, there were fewer than 2.44 million BTC available on exchanges, the lowest amount since August 2018.
Crypto fund flows are slowing, which could suggest investor uncertainty about BTC's price.
BTC could peak by next June before entering a bear market, according to Chinese crypto miner Jiang Zhuoer.
"Falling implied volatility suggests that markets are expecting sideways price action," one analyst said.
Based on an analysis of price chart patterns, bitcoin is about halfway through its current bull market, which began around the March 2020 low.
Peer-to-peer bitcoin trading volumes steadily increased in the country during the last three years.
Turks might be looking for bitcoin as a potential store of value against further currency weakening or as a hedge against inflation.
BTC is moving sideways as its short-term uptrend slows.
Asked he if sees SkyBridge having an Ethereum-based product some day, Scaramucci said "Yes, I see that happening.