Category: Analysis
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No matter who wins the U.S. election, Bitcoin will likely rally: historical data
It’s been quite a volatile past day for the American public. The presidential election has begun, and while both sides are claiming victory, there is not a clear winner as of the time of this article’s writing. Bitcoin has seen strong reactions to electoral trends, first rallying strongly past $14,000 on expectations of a Biden…
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History shows presidential elections often mark a turning point for Bitcoin
The presidential elections have long been looked upon as a serious catalyst for economic trends, with potential changes in power often altering the global markets’ course. Many analysts expect Bitcoin’s price also to be influenced by the elections. History does show that elections are turning points for Bitcoin, and they typically work in the benchmark…
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Bitcoin in “overbought territory” says researchers as BTC suddenly corrects
According to researchers at Santiment, Bitcoin has been in an “overbought territory.” Merely two hours after the report came out, BTC dropped 4% within two hours. Possibly due to the uncertainty around the U.S. election on November 4, the cryptocurrency market saw a steep pullback. As Bitcoin declined from $13,750 to $13,200, Ethereum and other…
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Yearn.finance (YFI) fell to four digits—but are whales accumulating?
The price of YFI, the native token behind the decentralized finance (DeFi) giant Yearn.finance dropped to double-digits. It has started to recover as the market sentiment around Yearn.finance started to show signs of improvement. On October 30, the price of YFI dropped to as low as $9,631 on Binance. The DeFi space saw a marketwide…
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Binance Futures surpasses BitMEX, becomes most liquid Bitcoin perpetual swap
According to the data from Skew, Binance Futures now has the most liquid Bitcoin perpetual swap contract. It surpassed BitMEX, which was probed by U.S. regulators in early October. Binance Futures, the futures exchange arm of Binance, launched in September 2019. Since then, it has become one of the largest futures exchanges alongside OKEx and…
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Bitcoin’s organic valuation is at an all-time high and it’s a bright mid-term sign
The Bitcoin NVT Ratio is at an all-time high, which indicates that the blockchain network activity is supplementing the price. The metric shows the ongoing rally of BTC is organic, led by genuine retail and institutional demand. The Bitcoin NVT price hits a new all-time high and enters price discovery. Source: Willy Woo Bitcoin’s NVT…