Category: Analysis

Why this Wall Street fund quietly signaled its intention to invest in Bitcoin

Bitcoin is up 60 percent in the past month alone. This performance makes it the best-performing macro asset, hands down. It’s no surprise that considering this performance, investors want in. While retail interest in the cryptocurrency market has yet to pick up as BTC is not yet past its $20,000 all-time high, Wall Street investors…

November 16, 2020
Research: real Bitcoin volume explodes to 2020 high, but greed takes over

According to Arcane Research, the “7-day average daily real bitcoin volume” hit a yearly high. It comes after the top cryptocurrency exhibited significant momentum in recent weeks. But the market is starting to show extreme greed. Bitcoin is showing some resilience above $16,000. Although there is low resistance above $16k, analysts say that a pullback…

November 15, 2020
This $700m cryptocurrency is about to see its first halving six months after Bitcoin

In May, Bitcoin underwent its long-awaited block reward halving. The number of coins mined per block was cut in half, leading many to expect a massive surge as the market supply of BTC was technically supposed to decrease relative to demand. And it did… kinda. Since the halving, Bitcoin has gained 70 to 80 percent…

November 14, 2020
Bullish for ETH: The balance of Ethereum on exchanges just hit a multi-year low

Despite Ethereum being the backbone for the rapidly growing decentralized finance ecosystem, the cryptocurrency has been severely underperforming Bitcoin throughout the past few weeks. This underperformance comes as its price remains below its 2020 highs, while BTC is trading at the highest levels seen in the time following its parabolic uptrend in 2017. Although its…

November 13, 2020
Bitcoin is stable above $16k with little mainstream hype, and it’s very bullish

The price of Bitcoin is showing stability above $16,000 after a continuous rally since November 10. Every major dip was aggressively bought up, allowing BTC to sustain strong momentum. Yet, there is little mainstream hype behind the rally. According to Google Trends, compared to the 2017 rally when Bitcoin hit $20,000, there is noticeably lower…

November 13, 2020
4 reasons Bitcoin’s climb to $16k is such a volatile rollercoaster

The price of Bitcoin hit $16,000 on November 12 and it is exhibiting extreme volatility. After BTC achieved $16,150, it fell to as low as $15,600 within two hours. There appear to be four major factors behind this volatility. The potential catalysts are a miners’ sell-off, whales taking profit, the significance of the $16,000 resistance…

November 12, 2020
Why DeFi majors Yearn.finance, Aave, SNX plunged amid overnight BTC rally

Overnight, on November 11, the price of Bitcoin rallied by nearly 4% as it neared $16,000. While BTC showed strengthening momentum, decentralized finance (DeFi) majors, like Yearn.finance (YFI), Aave (AAVE), and Synthetix (SNX), underperformed. The trend spotted in DeFi in the last 24 hours, where it corrects while Bitcoin surges, was reminiscent of October. Throughout…

November 12, 2020
Analyst: Hash rate signal that preceded Bitcoin’s recent 100% rally will soon appear

The Bitcoin hash rate dove strongly in late October. The metric, which tracks how much computational power is being used to mine BTC, fell from approximately 170 exahashes to a low near 90 exahashes per second. Bitcoin transactions subsequently became slow as block times naturally increased. Worrying some investors, the “Hash Ribbons,” a custom indicator…

November 11, 2020
Bitcoin enters “extreme greed” zone as BTC price nears $16k

According to various on-chain metrics, Bitcoin (BTC) is entering the greed zone as price nears $16,000. Alternative’s Fear & Greed Index shows Bitcoin is now hovering in the “extreme greed” area. The metric shows out of 100, the greed level in the Bitcoin market has hit 86. In comparison, in the month of October, Bitcoin’s…

November 11, 2020
One of the biggest crypto funds just bought another $2m of Yearn.finance (YFI)

The DeFi market has undergone a strong surge since it seemingly bottomed late last week. As reported by CryptoSlate previously, top DeFi coins have surged over 100 percent from their lows, becoming the best-performing altcoins of this past week. Market data of the top 15 DeFi coins from CryptoSlate On-chain data suggests that this recovery…

November 11, 2020