Category: Analysis

Data shows the Bitcoin derivatives market is becoming less crowded

The Bitcoin futures funding rate has declined across major cryptocurrency exchanges in the past 48 hours. This shows that the derivatives market is getting less overheated and the rally can become more sustainable. The 1-hour price chart of Bitcoin. Source: BTCUSD on TradingView What is the futures funding rate and why does it affect the…

November 25, 2020
Ethereum wicks under $500 on top futures exchange as market (finally) sags

The crypto market has developed massively since 2017 and 2018, with the introduction of complex derivatives products, regulation, and liquidity through prominent market makers like Jump Trading and Alameda. But the market is far from perfect: just recently, the price of Ethereum dropped under $500 on a leading futures exchange while ETH traded at $600…

November 25, 2020
What makes the crypto market’s rise to $500 billion different from 2017?

The last time the total market capitalization of cryptocurrencies surpassed $500 billion, in December 2017, the industry had no idea a world-shattering crash was waiting just around the corner. And now, with Bitcoin nearing the coveted $20,000 point, the industry holds its breath once again as it prepares to leap into the unknown. But, this…

November 25, 2020
Bitcoin has been massively outperforming gold in November—but why?

The price of Bitcoin has been hugely outperforming gold throughout November. While BTC is aiming for an all-time high as it hovers above $19,200, gold is declining. Since the November peak, the price of spot gold has declined by over 8%. In the same period, BTC has increased by more than 24%, demonstrating a parabolic…

November 24, 2020
Bitcoin surpassing $19k led Ethereum, XRP, and altcoins to plunge—what’s next?

The price of Bitcoin surpassed $19,000 on November 24, reaching $19,299 on Binance. As BTC rallied, major alternative cryptocurrencies, including Ethereum and XRP, fell sharply. Whether the trend of profits from altcoins cycling into Bitcoin would continue in the near term remains to be seen. One variable could prevent a broader altcoin market downturn, and…

November 24, 2020
Bitcoin’s “logical” market cap limit (for now) is gold’s $9 trillion valuation: trader

Bitcoin has undergone a strong rally since the lows of September and October. From the mid-October lull at $11,200, the coin has rocketed over 60 percent higher to $18,350 as of this article’s writing. Just a few days ago, BTC was trading just a few percent shy of $19,000 as investors began to flood in…

November 24, 2020
XRP is now up 200% since the start of November, at highest price since mid-2018

XRP has ripped higher over the past few days as the coin finally begins to catch up with Bitcoin and the decentralized finance (DeFi) market. Despite the fact that the coin has not seen ostensible fundamental events, it is roaring higher, pulling no punches in its ascent to the upside. The coin is up over…

November 24, 2020
Zero crypto-assets in the top 100 are down today as Bitcoin bull run continues

After fears that Bitcoin would tank on the weekend (and it did), the crypto bull run seems to be back in full force as of Monday morning. According to CryptoSlate market data and CoinGecko market data, there is literally no crypto-asset in the top 100 by market capitalization that is down in the past 24…

November 23, 2020
On-chain metrics show where Litecoin might be heading next

Litecoin, the sixth most valuable cryptocurrency in the global market, increased by 30% in the past week. As LTC shows strong momentum, on-chain data points demonstrate both bear and bull cases. The daily price chart of Litecoin with moving averages. Source: LTCUSD on TradingView Researchers at Santiment identified various on-chain indicators that buy the case…

November 23, 2020
Analyst who predicted Bitcoin rally to $18,000 begins to build a short position

Bitcoin has undergone an extremely strong rally over the past few weeks that has brought the coin as high as $18,900. The coin is up around 70 percent in the past five weeks, making it the best-performing macro asset over that time frame. But just weeks ago, few investors thought it would move this high…

November 22, 2020